This BSE listed stock surged 178% in 3 months; zoomed 454% thus far in CY24

Shares of Ceinsys Tech hit a new high of Rs 1,965.70, gaining 5 per cent on the BSE in Monday’s intra-day trade. The stock is in the process of registering its third straight monthly gain, up 31 per cent so far in the month of December 2024.

 

In the past three months, the stock price of Ceinsys Tech has surged 178 per cent from a level of Rs 708.25.  Thus far in the calendar year 2024, it has zoomed 454 per cent, as compared to 9 per cent rise in the BSE Sensex.

 

Currently, Ceinsys Tech is trading in the ‘X’ group on the BSE. X group classified equity securities of companies that are only listed/traded on the BSE. The "XT" Group represents securities which are settled on a trade-to-trade basis as a surveillance measure.

 

 

The upward movement in stock price of Ceinsys Tech was seen after the company reported robust earnings for the quarter ended September 2024 (Q2FY25). The company’s consolidated profit after tax more-than-doubled or rose 149 per cent year-on-year (YoY) at Rs 11.7 crore. Revenue grew 54 per cent YoY at Rs 90 crore. Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved 186 bps at 18.67 per cent.

 

The management said the growth in both revenue and EBITDA margins was driven by the successful execution of value-added projects, which contributed to stronger margins. Additionally, the company’s ongoing initiatives to improve operational efficiency have enabled us to handle large volumes more effectively, further boosting our performance, it added.

 

As on September 30, 2024, the company’s total order book position stood at Rs 1,210 crore, reflecting a robust demand across core business segments, with geospatial and engineering services contributing to almost 76 per cent of the total order book, while technology solutions make up the balance 24 per cent. During the quarter, the company acquired two important contracts from the Maharashtra State Water and Sanitation Mission.

 

Last month, the company received Certificate of Appreciation for its appreciable role and best services in project establishment and monitoring the project to supply safe and clean drinking water in the rural areas under the Jal Jeevan Mission by the State Water and Sanitation Mission of State of Uttar Pradesh.

 

Ceinsys Tech is a technology-driven organization that specializes in offering Geospatial, Enterprise and Engineering solutions by providing independent opinions, actionable insights, and efficient solutions to customers across private and government enterprises across the utility, infrastructure, natural resources, and Technology sectors.

 

The company is also into software product development, Artificial Intelligence (AI), Machine Learning (ML) and Embedded Electronics space through a new vertical formation which focuses on product development activities related to Metaverse, EdTech, Gaming and Mobility.

 

Ceinsys Tech is leveraging on India's projected geospatial market growth which is expected to grow at compound annual growth rate (CAGR) of 13.5 per cent by 2025. Utilize trends like Digital Water Management, Wastewater Processing, Advanced Filtration, Water-saving Technology, and Desalination to enhance accessibility, sustainability, and economic viability. Growth in this segment will be driven by the growth opportunities in the areas of grid modernization, transmission capacity, Intelligent Asset, Management (IAM), and the integration of smart & microgrids.

 

Ceinsys Tech in an investor presentation said that the company is focused on capitalizing on substantial funding opportunities provided by government initiatives such as National Infrastructure Pipeline (NIP), Jal Jeevan Mission, and Namami Gange program, with a proposed budget of approximately $15 Billion for water-related projects. The company’s focused on tapping the growth avenues in smart water management and renewable energy sectors, as India's aims to add over 340 GW of renewable capacity by 2030.