The shares of an Indian IT company involved in the business of selling software and allied services have hit a 5 percent upper circuit after the company bags orders worth $820K from an international company Based In the United States of America
The shares of Trust Fintech Limited, with a market capitalization of Rs.224.20 crores on Tuesday. Its shares are trading at a CMP of Rs 94.10, against the previous closing price of Rs 89.65. The stock has hit a 5 percent upper circuit.the stock has given a good return of 12.83 percent in the past month
The News
Trust Fintech Limited, through its wholly owned U.S.-based subsidiary TFL TECH INC, has secured its first international order since inception. The order, awarded by Internet Soft Inc, a Delaware-based company, is for the implementation of Core Banking System (CBS) and Loan Origination System (LOS) for a credit union in the United States. The solution will be delivered on a Software-as-a-Service (SaaS) model, marking a significant step in Trust Fintech’s global expansion strategy.
The total value of the order is USD 820,000, which is approximately INR 6.97 crore based on an exchange rate of USD 1 = INR 85. The project is spread over a 60-month period, providing consistent long-term revenue. This contract highlights the company’s growing capabilities in providing end-to-end fintech solutions tailored to global financial institutions, particularly in the U.S. market.
Trust Fintech Ltd (TFL) is basically a Nagpur-based SaaS product-focused company that has carved a niche in providing Core Banking Software, IT Solutions, ERP Implementation, and Customized Software Solutions Development, SAP B1, and Offshore IT services for the BFSI Sector. Their flagship product, TrustBankCBS, is a web-based software. Alternatively, it is also available as an Off-the-Shelf Banking Software Solution in a ‘Software as a Service’ (SaaS) model.
The company’s Revenue from operations has increased by 6.25 percent from Rs 16 crs in H2FY24 to Rs 17 crores in H1FY25, and its Net profits stood stagnant at Rs 5 crores for the same period. The company’s PE stands at 21.4 against the Industry PE of 31.4 and the company is debt-free with a debt-to-equity ratio of 0
Written By Likesh Babu S
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