Multibagger IT Software Stock Bags Rs 67 Cr Order From Saudi Arabia, Shares Rally

Shares of small cap IT Software company, Genesys International Corporation Ltd on Monday rallied over 3% after it informed it secured a new order worth 67 crore from Saudi Arabia to offer mapping services. Genesys International shares offered 163% return in last 2-years and declined 36% in last 1-year. Check details below:

Genesys International Bags New Order From Saudi Arabia: The company in its BSE filing dated September 18 informed, Genesys International Corporation Limited announced a pivotal milestone in its growth strategy with the establishment of a subsidiary in the Kingdom of Saudi Arabia (KSA). This strategic move coincides with a pivotal juncture in KSA's infrastructure development, notably the NEOM project, and underscores Genesys's commitment to advancing its Digital Twin program, which has gained remarkable traction in Saudi Arabia due to the extensive infrastructure and urban planning initiatives underway. The Company in an announcement today shared its recent accomplishment of securing an order worth Rs 67 crores in Saudi Arabia. With this, the cumulative order wins in KSA totaling Rs 76 crores."

The work would involve creating Elevation models, digital form outputs, up-dation of buildings layer, transport network, hydrographic network, land cover database and alignment with the national geospatial platform, added the BSE filing.

Sajid Malik, CMD, Genesys International, commented on the development, stating, "We are excited to deepen our roots in Saudi Arabia, a nation spearheading transformative infrastructure projects. Securing cumulative orders worth Rs. 76 crores underscores our team's expertise and dedication to the region's development. We look forward to making a significant contribution to Saudi Arabia's growing infrastructure landscape and continuing to provide exceptional value to our clients."

Genesys International Stock Outlook & Return: Last trading price of Genesys International share is Rs 369.40 per share with intraday gain of 3.31% on BSE. Its 52-week high price is Rs 594.95 per share and 52-week low price is Rs 267.00 per share, respectively. The company has a market capitalisation is Rs 1,395.74 crore. Genesys International shares gained 28% in last 1-month, soared 14% in last 3-months, fell 20% YTD, offered return of 526% in last 3-years, and jumped 104% in last 5-years.

Genesys International Financials: The company announced its net sales at Rs 34.55 crore for the June 2023 quarter, down 19.08% as against Rs 42.69 crore declared in June 2022. Its EBITDA declared at Rs 6.73 crore in June 2023, down 48.67% as against Rs 13.11 announced in June 2022. The company announced its consolidated total income at Rs 35.47 crore for the quarter ended June 2023, down 35.47% as against its last quarter total income of Rs 48.03 crore. Its recent quarter net profit after tax declared at Rs -5.46 crore.

About The Company: Genesys International Corporation Ltd, established in 1995 is a pioneer in advanced mapping, survey and geospatial services. With a team of 2000+ professionals and rich experience, we deliver expertise services in Geographical Information System (GIS) and Geospatial Engineering domain. We have a unique blend of understanding the emerging consumer applications around mapping technology as well as the capability on the enterprise side to offer solutions revolving around state-of-the-art remote sensing LiDAR, aerial survey, photogrammetry and ICT based e-governance solutions.

Disclaimer: The stock highlights the rally in shares after bagging new order and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.