Atishay Limited , a prominent player in the E-Governance and Retail services sector, has reported a robust financial performance for the second quarter. The company's unaudited standalone financial results, approved by its Board of Directors on October 16, reveal significant growth in both revenue and profitability.

Financial Highlights

Atishay Limited demonstrated strong financial performance in the second quarter:

• Revenue Surge: The company's revenue from operations jumped to ₹1,795.27 lakhs, marking a substantial 38% increase from ₹1,301.08 lakhs in the same quarter of the previous year.
• Profit Growth: Net profit for the quarter rose to ₹183.16 lakhs, up 26.1% from ₹145.24 lakhs in the previous year's corresponding quarter.
• Improved Earnings: Basic earnings per share (EPS) increased to ₹1.67, compared to ₹1.32 in the corresponding quarter last year.

Segment Performance

The E-Governance segment continues to be the primary revenue driver for Atishay Limited:

• E-Governance: This segment generated revenue of ₹1,575.32 lakhs in the current quarter, contributing significantly to the company's overall growth.
• Retail & Other Services: While smaller in scale, this segment also showed positive results, complementing the company's core E-Governance business.

Half-Yearly Performance

For the first half of the current financial year, Atishay Limited reported:

• Revenue: ₹3,015.56 lakhs, up from ₹2,308.49 lakhs in the previous year's corresponding period
• Net Profit: ₹348.06 lakhs, compared to ₹252.88 lakhs in the previous year
• EPS: ₹3.17 for the six-month period, showing consistent growth

Management Commentary

Akhilesh Jain, Chairman and Managing Director of Atishay Limited, stated, "Our strong performance in Q2 and H1 reflects the growing demand for our E-Governance solutions and the efficiency of our operations. We remain committed to delivering value to our stakeholders and contributing to India's digital transformation journey."

Auditor's Review

M/s B M Parekh & Co., Chartered Accountants, conducted a limited review of the financial results and issued a clean report, affirming the accuracy of the financial statements.

Investors and stakeholders can access detailed financial results on the BSE Limited website and the company's official website.

Atishay Limited , a key player in the IT services sector, has announced a significant win in its business operations. The company, leading a consortium with Gundal Business Private Limited, has been awarded a prestigious 5-year rate contract by the State Election Commission, Karnataka.

Contract Details

The contract, which runs until July 20, 2030, encompasses a wide range of electoral services for local body elections across 31 districts in Karnataka. The scope of work includes:

• Preparation of electoral rolls
• Database management
• Generation, integration, and merging of electoral databases
• Printing of photo electoral rolls and other related activities

Financial Implications

As a rate-based contract, it does not have a fixed monetary value upfront. The total consideration will depend on the actual work orders issued by the State Election Commission during the contract period. Despite this, Atishay Limited describes the expected potential value as significant, given the scale and scope of operations.

Consortium Structure

Atishay Limited serves as the Prime Bidder in this contract, partnering with Gundal Business Private Limited as the Consortium Partner. This strategic alliance appears to combine the strengths of both entities to deliver comprehensive electoral services.

Market Impact

The award of this contract represents a notable achievement for Atishay Limited, potentially strengthening its position in the government services sector. It also demonstrates the company's capabilities in handling large-scale, data-intensive projects crucial for democratic processes.

Regulatory Compliance

In compliance with SEBI regulations, Atishay Limited has duly informed the BSE Limited about this development. The company has committed to keeping the stock exchange informed of any material developments or updates pertaining to the execution of the contract.

This contract win underscores Atishay Limited's growing role in supporting electoral processes and highlights its expertise in managing complex data and printing services for government entities.