Share price of a retailer of greeting cards, gifts and stationery items moved up to about 3.01 percent to Rs. 35.85 in the morning session on Tuesday, compared to its previous closing price of Rs. 34.80 on NSE, after the company announced securing purchase orders.
With a market cap of Rs. 117.21 crore, the shares of Archies Ltd. opened at Rs. 35.85 on February 20th and the stock is currently trading in the green at Rs. 35.65, up by 2.44 percent.
The company has delivered positive returns of over 38.5 percent in the last six months, whereas nearly 75.7 percent in the last one year. So far in 2024, it has given positive returns of more than 21.8 percent.
According to the recent filings on stock exchanges, Archies Limited secured purchase orders for the supply of paper bags from two international entities on Monday.
The first order is from TJX Companies, Inc., a leading off-price retailer of clothes and home fashions in the U.S. and worldwide, amounting to Rs. 0.428 crores.
TJX Companies, Inc. will first review the sample and notify Archies Ltd. if any modifications are necessary. Once the samples have been finalised, the orders will be dispatched.
The second order is from Anthropologie, a full-lifestyle shopping platform that offers an exclusive variety of clothing, shoes, accessories, cosmetics, furniture, home decor, garden, bridal, and other items, aggregating to Rs. 0.377 crores.
Anthropologie’s terms and conditions include that the order should be dispatched within the first week of March 2024, and the payment term will be 20% advance and the rest after receiving the Bill of Lading by the Party.
Archies Ltd. will also engage with quick commerce, specifically Blinkit, Zepto, Swiggy Instamart, and D-Mart, to supply paper products, gifts, and stationery items.
In terms of financials, the revenue from operations of Archies decreased by 5.09% from Rs. 22.19 crore in Q2 FY23-24 to Rs. 21.06 crore in Q3 FY23-24, accompanied by a decrease in net profit by around 42% to Rs. 0.65 crore in Q3 FY23-24 from Rs. 1.12 crore in Q2 FY23-24.
Archies Limited is an online gifting platform that offers a wide range of products including greeting cards, flowers, cakes, home decor, and plants.
Written by Shivani Singh
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