Shares of this micro-cap company surged around 8 percent in Monday’s trading session after they announced their participation in the Vibrant Gujarat Global Summit 2024. The company was listed on September 2023, under the NSE SME category with a premium of 6.35 percent at Rs. 170.
With a market capitalisation of Rs. 393 crores, the shares of Kody Technolab Ltd started Monday’s trading session on a higher note at Rs. 584 compared to its previous close of Rs. 575. The shares hit a high of Rs. 619, gaining around 8 percent, also recorded as the company’s fresh 52-week high and are currently trading at Rs. 604 apiece.
Such a bullish movement was observed after the company in an exchange filing announced its participation in the Vibrant Gujarat Global Summit 2024. For this, the company will be showcasing 4 state-of-the-art autonomous robots, each tailored to specific industry needs. Additionally, they will also present their advanced robot that is poised to astonish attendees.
The 10th Vibrant Gujarat Global Summit (VGGS) is scheduled to take place from January 10th to 12th, 2024, at the Mahatma Mandir Convention and Exhibition Centre in Gandhinagar, Gujarat, India.
The summit serves as a platform for business leaders, investors, policymakers, and thought leaders to create business opportunities and foster economic growth, trade, and investment in the region and the theme for the 2024 summit is set as “Gateway to the Future”.
Coming onto the company’s financial statement, the revenue zoomed by 185 percent from Rs. 3.84 crores during FY21-22 to Rs. 10.95 crores in FY22-23. In addition, the net profit magnified from Rs. 62 lakhs to Rs. 3.18 crores during the same timeframe.
As of FY23, the company gets revenue from both domestic and exports, primarily they get 55 percent of the revenue from domestic sales and the remaining 45 percent of revenue comes from exports.
The company raised Rs. 27 crores through the IPO and got listed on September 27, 2023. The net proceeds of the issues will be utilized for funding capital expenditure, repayment of borrowings and many more.
Headquartered in Ahmedabad, Kody Technolab was incorporated in 2017. The company provides software development services to a diverse set of industries. They are a full-stack developer providing innovative and cutting-edge digital solutions to its clients.
Written By Vaibhav Patil
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