One of the micro-cap stocks engaged in providing information technology services, including software development and cloud-based solutions. The stock hits 10 percent upper circuit after acquiring a 51% stake in Moodscope AI Private Limited
Stock Price Movements:
With a market capitalization of Rs. 321.02 crores, the shares of Shradha AI Technologies Limited’s stock surged by 10 percent, reaching an upper circuit of Rs. 131.67 per share on Monday, up from its previous closing price of Rs. 119.70 per share.
Over the last six months, the stock has provided impressive returns of more than 118.79 percent.
What Happened:
Shradha AI Technologies Limited has successfully completed its acquisition of a 51% control in Moodscope AI Private Limited by subscribing to 51,000 equity shares of Rs. 10 each.
This acquisition was valued at Rs. 5,10,000 and makes Moodscope AI a subsidiary of Shradha AI Technologies Limited, effective from December 7, 2024. The target company specializes in software development, customization, and related services.
Recent Developments:
In November 2024, Shradha AI Technologies announced several corporate actions, including a record date for an equity share split and amendments to its Memorandum and Articles of Association. These changes are part of the company’s strategy to enhance shareholder value and improve liquidity in its shares.
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Recent quarter results and ratios:
Shradha AI Technologies Limited’s revenue has decreased from Rs. 6.05 crore in Q2 FY24 to Rs. 3.54 crore in Q2 FY25, which has down by 41.49 percent. The net profit of Shradha AI Technologies Limited has grown by 18.81 percent, from Rs. 2.18 crore in Q2 FY24 to Rs. 2.59 crore in Q2 FY25.
Shradha AI Technologies Limited’s revenue and net profit have grown at a CAGR of 157.13 percent and 81.71 percent, respectively, over the last three years.
In terms of return ratios, the company’s ROCE and ROE should be 17.8 percent and 13.1 percent, respectively. Shradha AI Technologies Limited’s EPS is to be Rs. 3.30 and almost debt-free company.
Shareholding pattern:
In September 2024, Shradha AI Technologies Limited had a majority stake held by the promoters at 74.66 percent and the public at 25.34 percent.
Company Overview:
Shradha AI Technologies Limited is previously known as Shradha Industries Limited and is an Indian company incorporated in 1990. It specializes in providing IT and related services, including software development, cloud-based solutions, and technical support for various business sectors.
Written By -Nikhil Naik
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