Trident Techlabs Rallies 5% and Hits Upper Circuit
Trident Techlabs’ shares have yielded a multibagger return of approximately 975% from its IPO issue price to its shareholders.
Incorporated in 2000, Trident Techlabs provides technology-based solutions to a diverse range of industries including aerospace, defense, automotive, telecommunications, semiconductor, and power distribution. Today the company experienced a significant surge in its share price.
At the start of the day’s trading session, the stock opened at Rs 395 per share, compared to the previous day’s closing figure of Rs 376.55 per share on the NSE. As of the time of writing this article, the shares are currently at Rs 395.35 per share on the NSE. The stock has reached the upper circuit price limit of 5%, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.
The company’s current market capitalisation stands at Rs 683.21 crore, and the stock has generated an impressive return of around 71% in the past one month.
Stock Price Chart (Daily)
Trading and Delivery Volumes (Daily)
Financial Performance
In FY24, Trident Techlabs reported sales of Rs 72.62 crore rupees, reflecting a notable increase from the Rs 67.35 crore rupees reported in March 2023, marking a year-on-year sales growth of 7.82%. The company’s operating profit grew from Rs 10.16 crore in March 2023 to Rs 15.97 crore. This resulted in an increase in the operating profit margin from 15.09% to 21.99% over the same period. Similarly, the net profit showed a positive trend, rising from Rs 5.55 crore in March 2023 to Rs 9.37 crore.
Business Overview
Incorporated in 2000, Trident Techlabs Limited specializes in providing technology-based solutions to various industries including aerospace, defence, automotive, telecommunications, semiconductor, and power distribution.
The company operates through two distinct verticals:
Engineering Solutions: Trident Techlabs offers consulting and technical services covering a broad spectrum of expertise including system-level electronic design, chip-level electronic design, embedded design, hydraulic/pneumatic systems, system modeling, reliability and quality analysis, design automation, power electronics, PCB design, and electromagnetic simulations.
Power System Solutions: Within this vertical, Trident Techlabs caters to power distribution utilities by offering products and services aimed at maximizing the capacity of aging transmission infrastructure, managing the increasing intermittent generation from renewable energy sources, and deploying smart grid technologies that introduce complexity to transmission investment decisions.
Investors must keep this stock on their radar.
Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.