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| 4/18/2013 9:00 PM Thursday

VAKRANGEE SOFTWARES

I have bought the shares of Vakrangee Softwares at Rs 55 per share. Shall I exit or hold the counter as it has reached a 52-week high?

- Hiten Dholakia, Via Email

HOLD

BSE/NSE Code 511431/VAKRANSOFT
Face Value Rs 1
CMP Rs 70.65
52-Week high/low Rs 70.65/Rs 30
Current Profit/(Loss) 28.45 per cent
Since you have not mentioned the number of shares you hold, we are not too sure of the amount of money that is at stake. However, here’s an analysis of the company’s business and its financial performance which will enable you to take a call.

Vakrangee Softwares, together with its subsidiaries, provides e-governance related solutions, system integration, and IT enabled services in India and internationally. The company serves the government, telecommunication, banking and financial services, utilities, transport and aviation, education, e-publishing, healthcare and life sciences, and retail and other industries. It has tied up with major software and hardware companies in the world to offer the best in class technology solutions. Vakrangee also has one of the largest capacities in delivering large scale document and print management solutions. 

The financial performance of the company for Q3FY13 has been a decent one. The topline witnessed a growth of 14.19 per cent on a YoY basis for Q3FY13 to stand at Rs 388.91 crore as against Rs 340.58 crore witnessed during Q3FY12. The bottomline witnessed a growth of a stupendous 89.46 per cent on a YoY basis to stand at Rs 32.72 crore for Q3FY13 as against Rs 17.27 crore for Q3FY12. The December 2012 quarter has been the fifth consecutive quarter where the bottomline has witnessed a northward journey. On the valuation front, the stock discounts its trailing twelve-month earnings by 34.53x and the EV/EVITDA stands at 15.44x. 

The reason behind a strong rally in the counter in the recent past is due to the grant of an ‘In-principle Authorisation’ by the Reserve Bank of India for setting up of White Label ATMs (WLAs) in India. As a White Level ATM operator (WLAO), it will set up, own and operate at least 15000 ATMs under its own brand in a three year timeline across the country. This is a positive development for the company. Coming to your query, you can book partial profits as you can earn a profit of up to 30 per cent and hold the rest till the company’s FY13 results are out.

 

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