The shares of these small and medium enterprises hit 5 percent upper circuit of Rs 73.90 apiece after the company entered into an OEM contract with Shenzhen Hitevision Technology Co. Ltd.
The shares of Richa Infosystems Limited were trading in green at Rs 73.90 per share, which increased significantly around 4.97 percent as compared to the previous closing price of Rs 70.40 apiece, the market capitalization of the company Rs 17.96 crore.
Reason of rise:-
According to the company filing, Richa Infosystems Limited entered into an OEM contract with Shenzhen Hitevision Technology Co. Ltd. to produce and supply interactive flat panel displays and commits to procure a minimum of 6000 units, this contract is valid for a duration of 3 years from the date of signing of the contract between parties.
Financial condition:-
Examining the company’s financial performance, revenue jumped by 213 percent from Rs 9.47 crore in H1FY24 to Rs 29.66 crore in H2FY24, however during the same period of time, net profit magnified by 73 percent from Rs 0.26 crore to Rs 0.45 crore.
Product wise revenue & client base:-
The company’s 62 percent revenue comes from Interactive Flat Pane, 15 percent comes from CCTV Camera, 9 percent comes from Podium, 6 percent comes from Kiosk & Signage, 5 percent comes from Video Conference Camera, and 3 percent revenue comes from Digital Teaching Device.
The company has a strong client base which includes B J Medical College, Ahmedabad Dental College, Civil Hospital Amdavad, Sharda University, IITE, ISR, etc.
Company snapshot:-
Richa Infosystems Limited is a product and system integrator that provides solutions for customers in industries such as government, PSUs, education, and defense. The company delivers services to government entities in India via the Government e-marketplace (GeM).
Written by:- Abhishek Singh
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