Penny stock under Rs 2 jumps after receiving three-orders worth Rs 4,74,54,878.37 from Oneindig Technologies Ltd; Nakoda Energy Innovations & Preet Industries

On Wednesday, shares of Sylph Technologies Ltd hit a 5 per cent upper circuit to Rs 1.03 per share from its previous closing of Re 0.99 per share. The stock’s 52-week high is Rs 1.86 per share and its 52-week low of Re 0.71 per share. Today, shares of the company saw a spurt in volume by more than 1.35 times on the BSE.

Sylph Technologies Ltd has secured two significant domestic purchase orders, cumulatively valued at Rs 4,74,54,878.37. The larger of the two, a work order from Oneindig Technologies Limited, is for Rs 3,77,27,946.37. This contract involves the implementation of standalone solar water pumping systems in Haryana, encompassing both material procurement and installation/commissioning. The work for this order is slated for completion within three months from the purchase order's receipt date.

In addition to the Oneindig Technologies order, Sylph Technologies received two other domestic orders. Nakoda Energy Innovations placed an order worth Rs 63,25,700, with terms specifying a 10 per cent advance payment and the remaining balance due before dispatch. Delivery terms for this order are subject to mutual discussion. The second order, from Preet Industries, is valued at Rs 34,01,232. Its terms include firm prices, an additional 18 per cent GST, freight charges for Haryana and 100 per cent pre-dispatch payment. Deliveries for the Preet Industries order are set to commence on the seventh day and be completed within five days.

About the Company

Sylph Technologies Ltd, established in 1992, offers a diverse range of services beyond its core software development, encompassing newspaper distribution, financial instrument trading, solar power plant trading, IT services, newspaper printing, business process outsourcing and knowledge process outsourcing. The company has a market cap of Rs 41.61 crore and its 100 per stake is owned by the public shareholder.

Results: According to the Quarterly Results, the company reported net sales of Rs 0.18 crore and net profit of Rs 0.12 crore in Q4FY25. In its annual results, the net sales decreased by 88 per cent to Rs 1.96 crore in FY25 compared to Rs 15.75 crore in FY24. The company reported a net loss of Rs 0.93 crore in FY25 compared to a net loss of Rs 2.51 crore in FY24.

The company has a market cap of Rs 87.32 crore with FIIs holding 0.75 per cent stake and the public holding 99.25 per cent stake. From Rs 0.71 (52-week low) to Rs 1.03 per share, the stock is up by 45 per cent.

 Disclaimer: The article is for informational purposes only and not investment advice.