Shares of this Information and Communication Technology company surged 9 percent in Tuesday’s trading session after receiving an order worth Rs. 25 crores.
With a market capitalisation of Rs. 348 crores, the shares of CWD Ltd started Tuesday’s trading session on a higher note at Rs. 949 compared to its previous close of Rs. 913. During the trading session, the shares hit a high of Rs. 1,039, gaining 9 percent and are currently trading at Rs. 965 apiece.
Such a bullish movement in the share price was observed after the company in an exchange announced that they had received an order worth Rs. 25.20 crores for the supply of sound boxes and the order is to be executed within 12 months.
Furthermore, the company mentioned that the “Sound Boxes”, designed to revolutionize the fintech landscape, has garnered widespread attention for its cutting-edge technology and user-centric features.
Coming onto the company’s financial statement, the revenue increased by 51 percent from Rs. 15.02 crores during FY21-22 to Rs. 22.72 crores in FY22-23. On a contrasting note, the net profits declined by 31 percent from Rs. 3.10 crores to Rs. 2.15 crores during the same period.
In FY23, the company accounted for 56 percent of revenue from the domestic market and 38 percent of revenue from the international market.
Moreover, CWD Limited has formed a strategic alliance with a leading smart meter manufacturer. And has achieved over 100 thousand successful installations, CWD Limited’s smart meter solution has proven its reliability and effectiveness in real-world scenarios.
Due to increasing expenditure, the profitability metrics of the company declined with the return on equity (RoE) decreasing from 15.47 percent during FY 21-22 to 10.22 percent in FY 22-23, and, the return on capital employed (RoCE) showed a downward movement from 21.76 percent to 14.24 percent during the same timeframe. Furthermore, the net profit margin decreased from 19.78 percent during FY 21-22 to 9.50 percent during FY 22-23.
Headquartered in Mumbai, Connected Wireless Devices (CWD) Limited is an information and communication technology-based company that is engaged in the design, development, manufacturing, and selling of integrated solutions with the use of software and electronics. The company’s business segments include smart Connectivity Modules, Connected Products, Electronics Design, Product Design, and Software Design.
Written By Vaibhav Patil
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