The shares of one of the leading environmental consulting company gained around 20% to an intraday high of ₹268.90 per share after receiving a work order from Maharashtra Pollution Control Board.
Techknowgreen Solutions Ltd is a micro-cap stock with a market capitalization of ₹184 crores.
According to the company’s exchange filing, Techknowgreen Solutions Ltd received a Work order amounting to ₹9.81 crores from the Maharashtra Pollution Control Board for the Evaluation of Air Quality in different Indoor Environments in the Mumbai Metropolitan Region (MMR).
Furthermore, the company is to act as a Representative of Maharashtra State with Special Reference to non-attainment areas, critically / severely impacted areas, and Formulation of Best Practices for better indoor Air Quality (IAQ). The company is to execute the order within 15 Months from the Date of the Work order.
Looking into the company’s financials, its revenues have increased by 50 % year on year from ₹9.87 crore in FY21-22 to ₹14.84 crore in FY22-23, while net profit has increased by 317% from ₹1.08 crore to ₹4.51 crore.
Techknowgreen Solutions Ltd shares have gained multibagger returns of 177% in the last six months, For instance, a shareholder investment of ₹ 1 lakh in the company, would be worth ₹2.77 lakhs in the last six months.
Techknowgreen Solutions Limited provides environmental consulting services, that include wastewater management, Air purification, organic composter; Remediation: Soil, decontamination, and hazardous waste.
The company has notable clientele including Government, and semi-government organizations, MNCs, large companies, mid-size companies, and MSMEs.The company caters to the sectors like Infrastructure, chemical, automobile, healthcare, manufacturing, and real estate.
The company received 35% revenue from the technology segment and the rest 65% from consulting services in FY23.
Written by Omkar Chitnis
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