Newgen Software Shares Rise Over 9% On Receiving Supply Order From International Client

Shares of Newgen Software Technologies Ltd. rose over 9% on Thursday after it received a supply order from an international client worth Rs 21.48 crore ($2 million).

The order is for the procurement of Enterprise Workflow and Content Management System and includes supply of Newgen’s product and its implementation for the customer digital transformation across multiple lines of business.

The time period by which the order is to be executed is five years, the company said in an exchange filing on Wednesday.

The IT company had reported a 2.8% growth in consolidated net profit to Rs 108.3 crore in the quarter ended March 31, 2025, on higher revenues. It had logged a profit of Rs 105.26 crore in the corresponding quarter of the previous fiscal.

Revenue from operations for the fourth quarter of financial year 2025 came in at Rs 429.8 crore, a 14.5% climb from Rs 375.2 crore in the same period last year. Revenue was driven by strong growth in the APAC and the US region, a company statement said.

"Growth was driven by strong license and implementation revenues across markets. Our large customer base, with billing of over Rs 5 crore, increased to 87 customers from 65 customers last year. The quarter specifically witnessed strong growth, and deal wins in the US region," said Diwakar Nigam, chairman and managing director, Newgen Software Technologies.

Shares of Newgen Software rose as much as 9.11% to Rs 1,336 apiece, the highest level since May 21. It pared gains to trade 7.05% higher at Rs 1,210 apiece, as of 9:31 a.m. This compares to a 0.47% advance in the NSE Nifty 50.

The stock has risen 49.77% in the last 12 months and fallen 22.81% year-to-date. Total traded volume so far in the day stood at 1.85 times its 30-day average. The relative strength index was at 72 indicating it was overbought.

Out of eight analysts tracking the company, five maintain a 'buy' rating, two recommend a 'hold' and one suggests 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 13.7%.