On Monday, Multibagger penny stock surged 5 percent after receiving a performance bank guarantee from the Maharashtra Pollution Control Board (MPCB) against the work order.
With a market capitalization of Rs 196.38 crore, Techknow Green Solutions Ltd. stock price rose by 5 percent from its previous close of Rs 259.05 per share to an intraday high of Rs 272.90 per share.
Techknow Green Solutions Ltd. received a performance bank guarantee amounting to Rs 9.81 crore from the Maharashtra Pollution Control Board (MPCB) against the work order received on February 19 for the evaluation of air quality in different indoor environments in the Mumbai Metropolitan Region (MMR).
On a yearly basis, revenue from operations of the company increased by 50 percent, from Rs 9.87 crore in FY22 to Rs 14.84 crore in FY23, and in the same period, net profits increased by 318 percent, from Rs 1.08 crore to Rs 4.51 crore.
The company operates in three segments, namely consulting, technology, and research. As per the investor presentation of Oct 2023, it has an 8 billion market potential in India across consulting offerings of 1.2 billion and technology offerings of 6.7 billion.
From 2019 to 2023, the company has executed the largest project of Rs 10.5 crore in Delhi Jal Board and signed MoU with Engineering Projects (India) ltd, Munif AL Nahadi, Environment Defense funds, and the German Development Agency via E&Y
The shareholder pattern of the company shows that 65.58 percent is held by the promoters and 34.42 percent by the public.
Techknow Green Ltd. is an Indian-based environmental consulting services company engaged in providing services in consulting, technology, and research. Headquarters in Pune, Maharashtra. Over the last 20 years, it has delivered 2,500+ projects specialising in compliance, complex consulting projects, research, and implementing numerous environmental technology solutions.
Written By Praveen R
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