Delhi-based Alankit Ltd (BSE: 531082, NSE: ALANKIT), offering diversified services under financial services, e-governance, share registry and broking services, insurance and health care verticals has seen its share price hit 52-week high on Thursday at Rs 84.45 on BSE and 84.55 on NSE. A total of 1,85,427 shares were traded at a value of Rs 1.56 cr.
The company has the distinction of providing double digit returns in the past five years. It is trading at a price earnings ratio (PE) of 60.39 indicating the higher valuation given by investors. In September quarter, the company reported 251.96% growth in net profits at Rs 5.76 cr while sales rose 28.53% to Rs 23.93 cr. It has reported a net profit growth of 275.98% in net profit in 2016-17 at Rs 1,325.95 cr. Total revenuer rose from Rs 30.26 cr in 2015-16 to Rs 86.65 cr in 2016-17.
It has provided monthly returns of 97.31%, 163.39% quarterly, and 152.38% yearly returns much ahead of Nifty returns and industry average.
It is managed by a professional team led by Ankit Agarwal, Managing Director and having 22 regional offices in India and having three overseas offices in London, Singapore and Dubai. The strength of the company lies in providing user-friendly technology solutions to Medium and Small Enterprises (MSMEs) especially with respect to Goods and Service Tax (GST) compliance. The group has four subsidiary companies, Alankit Technologies Ltd, Europlus Financial Services Ltd, Euro Global Brokers Ltd and Faith Business Advisors Ltd.
It also provides online and offline trading in equities, commodity, currency derivatives and depositary participant in NSDL and CDSL. Among the e-governance services offered include TIN Facilitation Center and PAN Center, authorized person for National Insurance, UID enrolment (Aadhaar), Aadhaar Seeding, Printing of PVC Aadhaar card etc. among others.
With increasing need for tax compliance among MSME’s Alankit hopes to capitalise on its GST Suvidha Provider status to bring in more revenues.
Technical View: Relative Strength Index (RSI) of 91.11 indicates bullish over bought, MACD has witnessed a bullish crossover indicative of buying and ADX of 55 indicates uptrend.