Newgen Software wins ₹19 Crore order in Saudi Arabia; Delivers 122% returns in one year

Newgen Software Technologies, a small-cap IT stock known for delivering exceptional returns, has secured a ₹19 crore (USD 2.27 million) order from Saudi Arabia. The order, awarded to its wholly owned subsidiary, Newgen Software Technologies Company Ltd., was announced on Tuesday, December 24. The project is expected to be completed within a year.

Notably, the order is from an international client and does not involve any related-party transactions, as clarified by the company. Neither the promoters nor any group companies have a stake in the awarding entity, in line with the Companies Act 2013.

Impressive Stock Performance

Over the past year, Newgen Software's stock has delivered an impressive 122% return, effectively doubling investors' wealth. On Tuesday, shares opened at ₹1,587.60, gained 2.09% to reach an intraday high of ₹1,620.90, and closed 0.97% higher at ₹1,602.20 on the BSE. The stock has also shown significant growth in the short-term, with a 12.16% return in the last week, 48.16% in the last month, and 59.48% over the last six months.

In the last three years, Newgen Software has generated a staggering 454.68% return for its investors, making it a preferred choice for those seeking high growth.

Strong Financials

Newgen Software’s financial performance has been robust, with a 87.84% increase in operating income quarter-over-quarter and a 48.86% year-over-year rise. For the July-September quarter of FY25, the company reported a 23.16% year-over-year increase in topline revenue, along with a 47.18% surge in profits. The firm’s revenue also grew by 14.76% compared to the previous quarter.

Currently, the company holds a market capitalization of ₹22,477.55 crore, solidifying its position as a major player in the IT sector.

Disclaimer: Please seek advice from a financial expert before making any investment decisions.