Shares of this micro-cap company specialized in providing technology solutions surged 4 percent on Wednesday morning after the company reported a 219 percent YoY increase in revenue and strong net profit growth in its latest quarterly results.
Share Price Movement
During Wednesday’s trading session, Panabyte Technologies Ltd’s share price reached an intra-day high of Rs.46.07 per share, rising 4.11 percent from the previous close of Rs.44.25 apiece. The shares have retreated since then and currently trading at Rs.45.90 each.
Rationale for Rise
The strong bullish movement in Panabyte Technologies Ltd’s stock price resulted from substantial revenue and net profit growth in the latest quarter. In its recent filing for the quarter ending September 2024, the company reported a remarkable 219 percent increase in revenue, reaching Rs.2.14 crore compared to Rs.0.67 crore in Q2 FY24. Sequentially, revenue also rose by 123 percent from Rs.0.96 crore in Q1 FY25.
During the same period, the company reported a turnaround from a net loss of Rs.0.23 crore to a net profit of Rs.0.05 crore in Q2 FY25. Quarterly the net profits increased 150 percent from Rs.0.02 crore in Q1 FY25.
In terms of return ratios, return on capital employed (ROCE) is currently at 2.04 percent, while return on equity (ROE) is at -6.99 percent. The company has a current ratio of 1.39 and a debt-to-equity ratio of 0.85.
Services Offered
Panabyte Technologies offers a range of technology solutions, including customized electronic security systems and IoT devices to improve connectivity and automation. The company also provides consulting and business systems integration, covering asset management, card printing, and peripheral maintenance services.
Shareholding Pattern
As of September 2024, the promoters of the company hold only a 2.22 percent stake in Panabyte Technologies while the retail investors hold a 97.79 percent stake in the company.
Client Portfolio
Panabyte Technologies caters to a diverse client base, including prominent corporations and government organizations. Key clients include Mahindra and Mahindra Ltd., Bharti Airtel Ltd., Vodafone Idea Ltd., and the Defence Metallurgical Research Laboratory (DMRL).
About the Company
Panabyte Technologies Ltd is a technology solutions provider specializing in electronic security systems and Internet of Things (IoT) products. The company focuses on delivering customized solutions tailored to the specific needs of its clients.
Written by – Siddesh S Raskar
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