This Microcap stock which operates in the business of e-Governance services and products trading, and other services related to e-Governance was up 3.5 percent after the company’s agreement with Star Health Agency under Ayushman Bharat.
Price Action
With a market capitalization of Rs. 596.28 Crores, the shares of Alankit Limited were up by 3.5 percent in the day’s trade touching a day’s high of Rs. 22.47 per share. The stock reiterated from the day’s high and was trading at Rs. 21.99 which is 1.29 percent higher from the previous closing price of Rs. 21.71 apiece. The stock has delivered a return of 21 percent, outperforming the Nifty Index in the past year.
What Happened
The company has entered into an agreement with Star Health Agency under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY) and Mukhyamantri Amrutam (MA) Yojana in Gujarat. As per the Memorandum of Understanding (MoU), the company would undertake the verification of the pending e-KYC enrollments through the Beneficiary Identification System (BIS) platform which is provided by the National Health Authority (NHA).
About the Company
Alankit Limited, established in 1989, is a prominent player in the FinTech sector, specializing in Financial Services, e-Governance, RegTech, and Managed Services. They offer a wide range of services which includes PAN card applications, payment solutions, and digital transformation technologies.
With a strong focus on customer-centric solutions, Alankit operates over 8,000 business locations across India and has a significant global presence. Its innovative approach leverages advanced technology to enhance service delivery and transparency, positioning Alankit as a leader in facilitating essential citizen services and financial solutions.
Financials & Ratios
Its Revenue from operations grew by 48.54 percent year on year from Rs. 43.32 Crores in H1FY24 to Rs. 64.35 Crores in H1FY25, accompanied by a profit of Rs. 2.54 Crores to a profit of Rs. 3.67 Crores.
In terms of Return ratios, the company has a return on capital employed (ROCE) of 11.80 percent and the return on equity (RoE) stood at 10.05 percent. The net profit marginstood at 9.33 percent and the debt-to-equity ratio stood at 0.13 as of FY24. Shareholding Pattern
As of September 2024, the shareholding pattern with the promoter’s stake holding a share of 54.15 percent in Alankit, Foreign Institutional Investors (FII) holding 0.37 percent, Domestic Institutional Investors (DII) holding 0.01 percent, and public holdings standing at 45.47 percent.
Written by Santhosh S
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