Persistent Systems Persevere: 1700% Returns Gained Over 10 Years

Your ₹1 lakh would have become ₹18 lakh+ if you had invested in Persistent Systems. This multibagger has given its investors 1700% returns in 10 years. Here’s a closer look at the company.

💻 Stock: Persistent Systems Ltd.
💻 NSE: $PERSISTENT

⚙️ The Beginning
Persistent Systems Ltd. was incorporated in 1990 in Pune. It is an Indian MNC that designs, develops, and maintains software systems and solutions, creates new applications and enhances the functionality of the customers’ existing software products. They offer complete product life cycle services. The company organises an annual hackathon called “Semicolons” for its employees. Persistent Systems Ltd. has offices across the globe in prominent cities of countries like the UK, Japan, the Netherlands, Malaysia and many more.

💰 Massive Buyback
The Company’s Board of Directors approved the buyback of its shareholders’ fully paid-up equity shares with a face value of ₹10 each through the stock exchanges’ “open market” route in January 2019 for a sum that did not exceed ₹2250 million and at a cost that did not exceed ₹750 per equity share. 881098 of these shares were purchased back at an average cost of ₹648.51 each.

👩🏽‍💻 Growth Potential

▪️ Has an active client base of over 1,000 users annually.

▪️ Is virtually debt-free.

▪️ The revenue has increased to ₹1,878 crores in Jun 2022. The earnings reported for the April-June quarter of FY23 showed a major leap too, with consolidated net profit jumping 40% to ₹211.6 crores.

▪️ On 27th July 2012, the shares of the company were trading at ₹183.40 apiece, while its current market price is ₹3333.95 as of 26 July 2022. The company has given its investors a whopping return of more than 1700% in 10 years!