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New Delhi [India], May 15 (ANI/ATK): Pune based Alphalogic Techsys Limited, the first startup in the country to be listed on the startup exchange and now migrated to the mainboard, has released its quarterly and annual financial results for the quarter ending on March 31, 2023. The company has been operating successfully in the Information Technology and Industrial Storage Solutions sectors, and has demonstrated robust financial performance. Anshu Goel, the Managing Director and CFO of Alphalogic Techsys, shared details about the company's business activities.
Expansion into Ethanol Manufacturing Goel revealed that the company is making effective strides into the renewable energy sector through its bio-ethanol plant. This plant will produce bio-ethanol from broken-rice, utilizing energy for boiler obtained from rice husk as biomass fuel. The plant will be a Green, State-of-the-art and fully integrated bio-refinery project. With an abundant supply of broken-rice, guaranteed purchases from oil marketing companies, and a strategic location, Alphalogic Techsys anticipates significant benefits in the ethanol business. The ethanol plant represents a forward integration of their ancestral rice milling business, and the plant location's proximity to approximately 200 rice mills in Maharashtra, and neighbouring states like Madhya Pradesh, Chattisgarh, and Telangana will provide a substantial advantage. With these advantages, the ethanol manufacturing business is poised to be a game changer for Alphalogic Techsys. Impressive Financial Performance On a consolidated basis, Alphalogic Techsys achieved a total revenue of Rs 8.71 crore for the quarter ended March 31, 2023, witnessing significant growth from the Rs 3.47 crore earned in the same period of the previous financial year. The net profit after tax for this quarter amounted to Rs 1.30 crore, marking a substantial increase from the Rs 59.86 lakh earned in the same period the previous year. In the fiscal year ending on March 31, 2023, the company achieved a total revenue of Rs 22.96 crore, reflecting a notable growth of 62.41 per cent compared to the Rs 14.14 crore earned in the previous fiscal year. The net profit after tax for this period amounted to Rs 4.07 crore, an impressive increase of 96.96 per cent from the Rs 2.07 crore earned in the last financial year. Alphalogic Techsys also announced a basic EPS of Rs 1.19 for the financial year 2022-23. The consolidated financial results include the performance of subsidiaries Alphalogic Industries Limited and Faraday Digital Inc. Alphalogic Industries Limited has established itself as a leading company in the Industrial Storage Solutions sector, boasting a portfolio that includes esteemed clients such as Aditya Birla Group, Bajaj Auto Group, Bharat Forge Group, Bharat Electronics, JSW Group, Saint Gobain, Rentomojo, Swiggy among others. Meanwhile, Faraday Digital Inc., based in the United States, is actively collaborating with partners to develop products in the futuristic blockchain technology. The company's stock last traded at 39.52, at the close of business on Friday. The stock has delivered a return of 82.87 per cent vs Nifty's return of 15.86 per cent in last one year and a return of 398.11 per cent vs Nifty's return of 99.15 per cent over a period of three years. This story has been provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)
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