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In the Thursday trading session, the shares of one of the IT companies specialising in offering customized automation, enterprise resource planning and more almost surged by 1.3 percent after receiving work order worth Rs.2.9 Crores from the Karnataka Golf Association (KGA).
Price action
With the market capitalization of 236.53 Crores on Thursday, the shares of Canarys Automations Ltd (NS:CANA) jumped up to 1.3 percent making a high of Rs.42.65 compared to its previous closing price of Rs.42.10
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What happened
Canarys Automations Limited has secured a major work order from Karnataka Golf Association (KGA), Bengaluru for providing software services such as ERP solution implementation, support, maintenance and many more for in discovery, implementation, go-live and maintenance of the KGA digitalization project
The above contract is on Long term basis with starting from December 2024 and is expected to end by December 2029, the total value of the contract is Rs. 2.9 Crores
About the Company
Canarys Automations Limited is a Bengaluru-based technology solutions provider, founded in 1991. The company specializes in offering customized automation, enterprise resource planning (ERP) and software solutions across various industries, including power, manufacturing, and infrastructure.
The Company is also known for delivering high-quality, reliable solutions that helps businesses optimize their operations and improve efficiency and the company also offers ongoing support and maintenance services to ensure long-term performance with a focus on innovation and customer satisfaction. The order book of the company is worth Rs.12,297 Lakh.
Positive Insights
The Company’s P/E ratio is 29.65 which is lower than the industry average of 51.12 and Company’s Current assets are more than current liabilities and also they achieved an Average 3 Year Net Profit growth of 59.42%.
Financials
The company’s revenue rose by 21.18 percent, from Rs. 31.01 crore in H1FY24 to Rs 37.58 crore in H1FY25. Meanwhile, Net profit increased from a profit of Rs 2.21 crores to a profit of Rs 4.21 crore during the same period.
Key Financial ratios
Canarys Automations Limited has a Return on Equity (RoE) of 11.7% percent and a Return on Capital Employed (RoCE) of 15.32% percent and Furthermore, the company’s debt-to-equity ratio is 0.11.
Written By sridhar J
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