The share price of the small-cap IT company Saksoft Limited dropped by approximately 3 per cent and closed at Rs 1,150 on Wednesday. In the last five days, the stock has zoomed by 7 per cent.
Saksoft Ltd is a leading Digital Transformation Solution Partner for clients across various countries. It works with mid-tier businesses situated in the UK and the US to provide business intelligence and information management solutions.
The company has announced to split its shares. It is going for the subdivision of 1 equity share of the company having a face value of Rs 10 each fully paid up into 10 equity shares having a face value of Re 1 each fully paid up. For this purpose, the company has set September 26, 2022, as the record date.
In Q1FY23, the company earned a total revenue of Rs 148 crores which increased from Rs 102 crores which they earned in the same quarter a year prior. In the quarter under review, their net profit grew sideways and was at Rs 17.80 crores as against Rs 17.69 crores in Q1FY22.
The company has a market capitalization of Rs 1,207 crores as of September 21st, 2022, and a dividend yield of 0.52%. The company is also undervalued as compared to the industry as its TTM PE is 19.04 whereas the sectoral PE is 27.08.
The promoters hold a 68.31 per cent stake in the company which has remained unchanged for the last 3 quarters. The promoter’s pledge is zero.
Written by Anoushka Roy
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