Microcap stock engaged in providing high-end supercomputing solutions, data center facilities, and many more hit a 5 percent upper circuit in the day’s trade upon receiving new work order worth ~Rs. 8.5 Crores
Price Action (WA:ACT)
With a market capitalization of Rs. 621 Crores, the shares of Esconet Technologies Ltd (NS:ESCN) hit a 5 percent upper circuit in the day’s trade at Rs. 502.95 per equity share, from its previous day’s close price of Rs. 479.
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What Happened
Esconet Technologies Limited has received a new work order from an Indian Entity for the supply of 4G or Higher Smartphone Telecom (BCBA:TECO2m) Devices for a consideration of Rs. 8.47 Crores and it is to be executed within 4-6 weeks.
In Addition, recently it received a work order from Indian Oil Corporation (NS:IOC) Limited for setting up, operating, and maintaining a Disaster Recovery site at Bangalore for RHQ-DC for a consideration of Rs. 29.23 Crores.
About the Company
Esconet Technologies Limited is engaged in providing high-end supercomputing solutions and data center facilities that include storage servers, network security, virtualization, and data protection and many more.
Financials and Ratios
Its Revenue from operations grew by 49 percent from Rs. 95 Crores in FY23 to Rs. 141 Crores in FY24, accompanied by profits of Rs.3 Crores to Rs. 5 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 25.4 percent, and a return on capital employed (ROCE) of 32.9 percent. It has reported a debt-to-equity ratio of 0.06.
Written by: Bharath K.S
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