27:10, 1:2 & 1:3 Bonuses, And 1:2 Split: Penny Stock Below Rs 100 Signs Rs 160.35 Crore MoU

Alphalogic Techsys, a penny stock in the IT sector, has seen a bearish start to the week despite winning a big deal worth over Rs 160 crore. Despite the latest hiccups of hitting back-to-back lower circuits, this penny stock is still a multi-bagger with gains of over 336% from its 1-year lows. Alphalogic has rewarded a series of incentives to its investors in the form of stock splits and bonus shares in the past three years.

On BSE, Alphalogic Techsys share price ended at Rs 81.89 apiece, down by 2% with a market cap of Rs 383.69 crore. {image-Alphalogic Techsys www.goodreturns.in}

The stock is over Rs 10 away from its 52-week high but is trading higher by 336.28% from its 52-week lows of Rs 18.77 apiece. Its upper circuit and lower circuit are 2% each at Rs 85.23 and Rs 81.89 apiece respectively on the current levels.

Alphalogic has touched a 2% lower circuit since March 5th but has been in red since March 4th to date.

On March 5, as per the regulatory filing, Alphalogic announced that a Memorandum of Understanding (MoU) has been signed between Alphalogic Techsys and District Administration, Chandrapur in the state of Maharashtra to facilitate the establishment and operationalize industrial activities.

Further, it said, the company will establish Grain based Bio-Ethanol Plant with a proposed investment of Rs 160.35 crores. The project is expected to generate employment for 200 peoples and would be located in Tadali Growth Centre in the district of Chandrapur, Maharashtra.

Also, last month, the company announced that the board has approved the borrowing of term loan of Rs 136 crores from Indian Renewable Energy Development Agency Limited (IREDA) for setting up 150 KLPD grain-based Bio-Ethanol Plant in Chandrapur, Maharashtra.

In Q3FY24, the company reported revenue from operations of Rs 1.16 crore, compared to Rs 1.07 crore in Q3FY23 and Rs 1.26 crore in Q2FY24. Net profit was at Rs 74.26 lakh in Q3FY24 versus Rs 54.89 crore in Q3FY23 and Rs 77.32 crore in Q2FY24.

In the past three years, Alphalogic has carried three bonus issues. The highest was of 27:10 ratio which came into effect from August 9, 2021, followed by 1:2 on September 21, 2022, and 1:3 on December 22, 2023.

Meanwhile, the company carried one stock split in the ratio of 1:2, effective from October 5, 2021. The face value was reduced from Rs 10 to Rs 5.

Alphalogic is a global technology solutions company headquartered in the Washington, DC metropolitan area. Alphalogic offers a wide range of technology and consulting services; predictive analytics, data warehousing & BI, cloud consulting, web & mobile application development.