On Tuesday, the shares of the leading provider of low code digital transformation platform rose 9 percent to an all-time high of Rs 1000 per share after the company received a USD 9,90,000 order from an international customer.
At 3:15 p.m., Newgen Software Technologies Ltd shares were trading at Rs 969 a share on the National Stock Exchange, up Rs 53 or 5.6 percent.
As per the company’s exchange filing, the Company received an order from an international customer for the Licence Product, implementation, and support services. The total value of the aforementioned purchase order is USD 9,90,000/- over a three-year term.
The company’s stock has delivered returns of 118 percent in six months and 145 percent over a year. A shareholder’s investment of Rs. 1 lakh in the business would be worth Rs. 2.45 lakhs after a year and Rs 2.18 lakhs after a half-year.
Ace investor Mukul Mahavir Agrawal holds 800000 shares in the company as of the June 2023-24 quarter, equivalent to 1.14 percent.
The company reported an increase in sales by 34 percent to Rs 251 crore in Q1FY24, compared to Rs 187 crore in the previous year’s equivalent quarter (Q1FY23), and its net profit increased by 58 percent to Rs 30 crore in Q1FY24, from Rs 19 crore in Q1FY23.
As per the latest shareholding pattern, the promoters hold 55.16 percent of the company, while foreign institutional investors hold 15.34 percent and retail investors hold 20.86 percent.
Newgen Software Technologies is a software product development company, which includes creating and providing end-to-end software solutions across a complete range of software services, from workflow automation to document management to imaging.
Written by Omkar Chitnis
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