IT stock jumps 8% after receiving order worth ₹40 Cr for digital transformation projects

IT Stock engaged in providing a comprehensive suite of distributed IT solutions, encompassing consulting, enterprise computing, and many more jumped up to 8 percent in the day’s trade upon receiving work orders worth Rs. 40 Crores.

Price Action (WA:ACT)

With a market capitalization of Rs. 236 Crores, the shares of Rox Hi Tech Ltd (NS:ROXH) were trading at Rs. 103.30 per equity share, up 7 percent from its previous day’s close price of Rs. 96.25.

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What Happened

ROX Hi-Tech Limited a customer-centric IT solutions provider has received a new work order focused on digital transformation projects for enterprise clients, encompassing network and security management along with application management for a consideration of Rs. 40 Crores.

The said work order is set for phased execution and is expected to be completed by March 2024. With this addition, the total order book now stands at Rs. 150 Crores, with Rs. 110 Cr already billed and Rs. 40 Cr currently in the order book.

About the Company

ROX Hi-Tech Limited is engaged in the business of dealing in Computer Hardware components, peripheral devices, electronic data processing equipment, and software including packaged & customized software.

ROX Hi-Tech Limited provides a comprehensive suite of distributed IT solutions, encompassing consulting, enterprise computing, end-user services, managed print, and network solutions. Its clientele spans a broad spectrum, featuring Fortune 1,000 companies.

Financials and Ratios

Its revenue from operations grew by 8 percent from Rs. 77 Crores in H1FY24 to Rs. 83 Crores in H1FY25, accompanied by profits of Rs. 10 Crores in both the years.

In terms of Return ratios, it has reported a return on equity (ROE) of 36.4 percent, and a Return on capital employed (ROCE) of 39.3 percent. It has reported a debt-to-equity ratio of 0.50.

Written by: Bharath K.S

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The post IT stock jumps 8% after receiving order worth ₹40 Cr for digital transformation projects appeared first on Trade Brains.

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