Penny which is one of the leading IT Solutions providers specializing in facilitating digital transformation through Digitalization, Modernization, Cloudification, Automation, and Intelligence jumped 16 percent in the day’s trade upon receiving a work order worth Rs. 25.65 Crores. 

Price Action 

With a market capitalization of Rs. 356 Crores, the shares of Canary’s Automations Limited were trading at Rs. 63 per equity share, from its previous day’s close price of Rs. 56.40. 

What Happened 

Canary’s Automations Limited has received a new work order from Jalkal Vibhag, Nagar Nigam Gorakhpur, UP, for the Design, Supply, Installation, Commissioning, and Maintaining Urban Flood Early Warning System along with Associated Infrastructure for a period of 5 Years for a consideration of Rs. 25.65 Crores. 

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About the company 

Canary’s Automations Limited is one of the leading IT Solutions providers that specializes in facilitating digital transformation for businesses through its software solutions in Digitalization, Modernization, Cloudification, Automation, and Intelligence. As of June 2024, It has a strong order book of Rs. 122 Crores 

The solutions provided by the company cater to various industry sectors, including water management technology solutions, BFSI, Retail, Healthcare, Pharmaceutical, and Manufacturing, with a primary focus on enhancing operations, improving customer experiences, and staying competitive 

Financials and Ratios 

Its Revenue from operations grew by 0.67 percent from Rs. 74.52 Crores in FY23 to Rs. 75.02 Crores in FY24, accompanied by profits of Rs. 8.53 Crores to Rs. 7.99 Crores. 

It has reported a return on equity (ROE) of 44 percent, a return on capital employed (ROCE) of 33.5 percent, and a debt-to-equity ratio of 0.10. 

Written by: Bharath K.S


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