The share price of this micro-cap firm engaged in the business of skill development services saw its shares hit a 20 percent upper circuit to an all-time 52-week high of Rs 97.17 as of today after the firm entered into a Memorandum of Understanding (MOU) with Blue Dart Express Limited and Delhivery Limited.
Share price movement:
With a market capitalization of Rs 39.70 crores, the shares of Ascensive Educare Limited hit 20 percent upper circuit at Rs 97.17 on Wednesday. The shares of this company generated both multi-bagger returns of 141 percent over the past year and 131 percent over the past 6 months.
What happened:
According to the Ascensive Educare Limited stock exchange filings, the company entered a Memorandum of Understanding (MOU) with Blue Dart Express Limited and Delhivery Limited for Recruitment and Payroll Management with an approximate target of 1000 -1000 staff each till March 2025.
The exchange filings mention that Ascensive Educare Limited expects a turnover of Rs. 22 crores from these MOUs along with a 5 percent margin. The MOUs have an initial term of 3 years.
Financials:
Reviewing the financials of Ascensive Educare Limited on a year-on-year basis, the revenues increased by 28.3 percent from Rs 16.28 crores in FY23 to Rs 20.90 crores in FY24. In the same time frame, the net profits also increased from Rs 1.11 crores to Rs 1.32 crores, demonstrating a 19 percent increase.
Ratios:
In terms of return ratios for the year 2024, it has reported a return on equity (ROE) of 10.67 percent and a return on capital employed (ROCE) of 16.88 percent. It has also reported a debt-to-equity ratio of 0.20 for the same time period.
Presence:
Ascensive Educare Limited has a presence across India, including West Bengal, Odisha, Madhya Pradesh, Arunachal Pradesh, Kerala, Assam, Mizoram, Uttarakhand, Tripura, Meghalaya, Jharkhand, Rajasthan, Bihar, and Maharashtra.
Shareholding Pattern:
As of March 2024, Ascensive Educare Limited’s shareholding pattern stood at 57.33 percent for promoters and the rest at 42.67 percent for the public.
About the Company:
Ascensive Educare is a skill development company offering vocational training and educational consulting in collaboration with the Central Government, State Governments, and various Industries and Industry Associations.
It also provides central & state government-funded programs, soft skills and personality development programs, management programs, entrepreneurship development programs, and corporate social responsibility (CSR) programs.
Written By Zahal
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