ALANKIT LTD

This week, little known company, Alankit was in the limelight. It announced that it was appointed as E-KYC User Agency (KUA) for the usage of Aadhaar Authentication Services provided by UIDAI to provide Aadhaar Enabled Services to Company beneficiaries, clients and customers.  Giving such constant updates, the counter has been pretty busy and the stock price has been in the green almost through the entire month.

Alankit is engaged in UID Enrolments and Smart Card Data Management Services and it began this activity only from 24th September 2015. Prior to that it was offering an online health & wellness initiative which helped people maintain personal health records online. The company has recently taken up other e-Governance services like National Insurance – Policy Repository (NIR) and National Skills Registry (NSR).

This change in activity has most certainly helped the company’s financials directly. YoY, net sales rose 9.5 times to Rs.19 crore and QoQ by 45%. Net profit came in at Rs.1.63 crore v/s Rs.74 lakh in previous Q2 and Rs.1.89 crore in current Q1, which is actually a decline of 14%. The company is debt free and equity is at Rs.7.15 crore with reserve at Rs.30 crore.

With a market cap of Rs.475 crore, the promoters stake is very low at 24.34% though, through their various companies they seem to hold a sizeable stake in the “public” category.