Multibagger shares secure Robotic Process Automation project from US consulting firm, shares rise 142% from 52-week low

Edvenswa Enterprises Limited announced that its wholly owned subsidiary Edvenswa Tech Inc. in the United States has bagged a new project in the strategic domain of Robotic Process Automation (RPA) with Big Four consulting firm. Edvenswa Enterprises Limited (EEL) has launched a focused initiative to leverage the growing demand from global enterprises to transform the way they increase workforce productivity by empowering it with AI-enhanced digital workforce (Robotic Process Agents) as well as physical robots to increase on-site productivity.

A software technology called robotic process automation (RPA) makes it easier to create, use, and manage software robots that mimic the way humans interact with computers and software. Software robots can perform a wide range of user-defined tasks, including understanding what is on the screen, making appropriate keystrokes, navigating systems, and identifying and extracting data. Software robots can reliably perform most tedious and repetitive tasks without requiring breaks.

A multi-year project to utilize RPA in software test automation to test complex software systems under development and the integrity of data being converted from a legacy system to a new system has been awarded to Edvenswa Tech Inc, a wholly owned subsidiary of Edvenswa Enterprises Ltd. The market for this solution can be expanded to include more projects for the same client as well as other clients.

Speaking on the occasion, Mr. Uppuluri Sreenivasa Sreekanth, Chairman and Managing Director of the Company said, “We are delighted to announce that we have secured the contract amidst intense competition, directly partnering with one of the top four consulting firms. Our team has developed an RPA solution tailored to this specific scenario, which offers ample growth opportunities across multiple projects across client locations as well as similar projects with other clients. Our revenue from this growing pipeline has the potential to reach around USD 2.0 Mn over the next six quarters.” Mr. Ramesh Reddy, CEO of the Company further appreciated the remarkable response and support of our shareholders in the recent rights issue. Addressing the shareholders, he said, “The oversubscription is a clear indicator of the trust and confidence that shareholders have in the company and its future prospects. The company remains committed to working tirelessly to deliver long-term value to its shareholders and stakeholders and we assure you that we will continue to uphold this commitment.”

“We are committed to establishing a comprehensive RPA practice to leverage the potential of this market. Our approach includes developing reusable components and customized agents for a range of applications across a domain, meeting the needs of our existing customers and providing adoption capabilities for new customers across industries,” added Mr. Anil Boenepalli, CTO of the company.

Edvenswa Enterprises Ltd, a technology solutions provider, specialises in helping companies innovate through rapid prototyping and then rapidly scale by building large-scale software applications.

On Friday, Edvenswa Enterprises shares closed at ₹45.26 per unit, which means an increase of 1.50% compared to the previous close ₹44.59. Over the last three years, it has generated a multibagger return of 201% and over the last five years, a multibagger return of 478%. Over the last year, the stock’s multibagger return is 142%, while the year-to-date (YTD) decline in 2023 so far is 5.85%. The stock touched a 52-week high of ₹75.82 on (17.08.2022) and 52-week low ₹18.66 days (11/04/2022). At the current market price, the stock is trading 142.55% above its yearly low and 40.30% below its yearly high.