Budget Day Pick: Why 1:2 Stock Split Stock Should Be On Your Radar?

One of the top software development companies, Ksolves India Limited, offers IT solutions to companies in a variety of sectors. Following the company's announcement of the record date for a 1:2 stock split, Ksolves India's shares closed the day Friday 2% higher at Rs 985.80 with a market capitalization of Rs 1,168.76 Cr.

Ksolves India Stock Split

"We would like to inform you that the Board of Directors of the Company at its meeting held today i.e., Sunday, January 19, 2025, inter-alia Fixed, Thursday, February 06, 2025 as 'Record Date' for determining the entitlement of Equity Shareholders for the purpose of Sub-Division/Split of existing Equity Shares of the Company, such that existing 1 (One) Equity Share having a face value of INR 10 (Ten) each into 2 (Two) Equity Shares of INR 5 (Five) each, fully paid up, ranking pari passu in all respects, if approved by the shareholders through ongoing evoting," said the company in a stock exchange filing.

Ksolves India Q3 Financials

The company's net sales for the quarter ending in December 2024 were Rs 37.70 crore, rising 32.66% from Rs 28.42 crore for the quarter ending in December 2023. Its net profit climbed 15.46% from Rs. 8.94 crore in the December 2023 quarter to Rs. 10.32 crore in the December 2024 quarter. EBITDA increased 16.64% from Rs. 12.14 crore in Q3FY24 to Rs. 14.16 crore in Q3FY25.

Mr. Ratan Kumar Srivastava, Chairman and Managing Director: "I'm excited to present our Q3FY25 results, and happy to share that in first 9 months of FY24-25 , we have achieved revenues of Rs 100 crores + with robust growth in both revenue and profitability. Key deal wins are anticipated to drive further top-line expansion. Our team's commitment to delivering outstanding customer solutions has been validated through various recognitions and accreditations. Our focus would be on scaling our offerings on evolving technologies & boosting business growth with Generative AI (GenAI) by reduction in cost, driving operational efficiencies, and optimizing resource allocation for clients. Additionally, our strategic investments in global events have strengthened our market position and helped attract new customers. We are deeply grateful for the continued support from our customers, shareholders, employees, and stakeholders, which remains essential to our ongoing success."

Ksolves India Share Price Target

"KSolves India stock price is bullish on the Daily charts with strong support at 945. A Daily close above resistance of 990 could lead to a target of 1072 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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