IT Stock Jumps 10% After BSNL Chooses Company as System Integrator in MP Circle

SYNOPSIS: One of the leading companies specialising in digital solutions has been empanelled by BSNL as a Circle Level System Integrator for the MP Telecom Circle, enabling it to market data services and provide networking solutions, creating potential future business opportunities.

During Wednesday’s trading session, shares of one of the leading companies specialising in digital solutions surged nearly 10 percent from its intraday low on BSE, after being empanelled as Bharat Sanchar Nigam Limited (BSNL) system integrator in the MP Telecom Circle.

With a market cap of Rs. 171.4 crores, shares of Atishay Limited were trading at Rs. 156 on BSE, as against its previous closing price of Rs. 162.85. The stock has delivered multibagger returns of around 141 percent in the last one year, but has fallen by over 8 percent in the last one month.

News

According to the latest disclosures from the stock exchanges, Atishay Limited has been empanelled by Bharat Sanchar Nigam Limited (BSNL) as a “Circle Level – System Integrator” for the Madhya Pradesh Telecom Circle.

Under this empanelment, the company will be responsible for marketing and selling BSNL’s data services within the region. In addition, it will handle the supply, configuration, integration, and ongoing maintenance of customer-end equipment, including networking infrastructure such as LAN and WAN solutions, for BSNL’s data service clients across the MP Telecom Circle.

Although the empanelment is not expected to have any immediate material financial impact, the company believes it could open up new opportunities over time in the telecom and data services space.

Financials

Atishay reported a marginal growth in revenue from operations, experiencing a year-on-year increase of around 2 percent, from Rs. 15.2 crores in Q3 FY25 to Rs. 15.4 crores in Q3 FY26. In contrast, its net profit slumped during the same period from Rs. 2 crores to Rs. 1.9 crores, representing a fall of more than 10 percent YoY.

Operating performance deteriorated during the quarter, with EBITDA falling to Rs. 2.6 crore from Rs. 3 crore in Q3 FY25, marking a around 11 percent YoY decrease. EBITDA margins also contracted by 229 bps to 16.83 percent from 19.12 percent.

In terms of financial ratios, the company currently has a Return on Equity (RoE) of 15.4 percent, and Return on Capital Employed (RoCE) of 20.4 percent, with a debt-to-equity ratio of 0.1.

Atishay Limited is one of the leading companies specialising in digital solutions across various sectors, including information technology, database management, software development, e-governance and fintech services. It offers a wide range of services, including customised software development, banking correspondence and financial inclusion services, catering to both government and private sector clients.

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