This company, which specializes in Engineering Design and Development Services as well as IT services, saw its shares surge by 10% to ₹6.61 per share after securing a ₹74 crore order from the Department of Space.
On Monday’s early trade Vama Industries Ltd shares hit 10% upper circuit to ₹6.61 apiece from the previous close on the Bombay Stock Exchange. The company has a market capitalization of ₹34.7 crore.
According to the company’s exchange filing, Vama Industries Limited has received a supply order worth ₹74.32 crores from NewSpace India Limited (NSIL), a Central Public Sector Enterprise under the Department of Space, Government of India. This order is for the supply of Hierarchical Storage Management (HSM) systems and servers for a Central Archival Facility (CAF) solution on a turnkey basis.
Based in Hyderabad, Vama Industries Limited specializes in IT services, engineering services, and IT infrastructure solutions.
The company provides a range of services including IT consulting, engineering design, Internet of Things (IoT), cloud technologies, software development, product design, and data center implementation.
Vama also markets computer hardware and software, including workstations, servers, notebooks, integrated systems, and computer peripherals.
Over the past 12 months, shares of Vama Industries Ltd have surged by 41 percent, with a notable 38 percent increase in the last six months alone.
Despite this, the company’s revenue has declined by 55 percent, dropping from ₹12.81 crores in Q4 FY23 to ₹5.68 crores in Q4 FY24. However, net losses have risen significantly, increasing from a loss of ₹0.91 crores to ₹3.78 crores during the same period.
Vama Industries generates around 55% of its revenue from the sale of computers, peripherals, and software, 28% from annual maintenance contract services, 3% from consultancy services, 11% from IT engineering services, and 3% from other income.
Written by Omkar Chitnis
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