India has the world’s third-largest defence expenditure, as of 2021, and it expects to export equipment worth US$ 15 billion by 2026. According to the Sources, it is predicted that the compounded annual growth rate (CAGR) of India’s defence outlay is likely to grow at 12 per cent to $147 billion over FY2025-29E.
Here are the 3 stocks that have had a transactional relationship with the Indian Air Force.
Premier Explosives Limited
In the day’s trade, On November 24, 2023, the shares of Premier Explosives Limited closed at Rs. 1,481.85, down 0.27 percent from its previous day’s close price of Rs. 1,485.85 and its market capitalization is Rs. 1,591 Crores.
Its revenue from operations grew 1.46 percent from Rs. 199.13 Crores in FY22 to Rs. 202.03 Crores in FY23, accompanied by increasing profits of Rs. 5.3 Crore to Rs. 6.91 Crore.
Premier Explosives Limited has recently received an order for the supply of Chaffs and flares to the Indian Air Force.
Premier Explosives Limited is engaged in the manufacture of explosives and accessories, like slurry explosives, permitted explosives, cast bloosters, Amardet NoN Electirc Shock-tube Detonators and many more.
Zen Technologies Limited
In the same timeframe as above, the shares of Zen Technologies Limited closed at Rs. 756, up 0.073 percent from its previous day’s close price of Rs. 755.45 and its market capitalization is Rs. 6,384 Crores.
Its revenue from operations grew 213.76 percent from Rs. 69.75 Crores in FY22 to Rs. 218.85 Crores in FY23, accompanied by increasing profits of Rs. 1.99 Crore to Rs. 42.74 Crores.
Zen Technologies Limited has delivered counter-unmanned aerial systems to the Indian Air Force.
Zen Technologies Limited designs, develops and manufactures state-of-the-art Combat Training Solutions for the training of Defence & Security Forces worldwide.
Astra Microwave Products Limited
In the day’s trade, On November 24, 2023, the shares of Astra Microwave Limited closed at Rs. 554, down 0.34 percent from its previous day’s close price of Rs. 555.90 and its market capitalization is Rs. 5,256 Crores.
Its revenue from operations grew 8.67 percent from Rs. 750.46 Crores in FY22 to Rs. 815.52 Crores in FY23, accompanied by increasing profits of Rs. 37.87 Crores to Rs. 69.83 Crores.
Astra Microwave Products Limited has delivered B-KITS, Testers, and Trainer Specific A-KITS to the Indian Airforce. These products are a set of wires and parts used to make upgrades to an aircraft.
Astra Microwave Products is in the business of designing, developing and manufacturing sub-systems for radio frequency and microwave systems used in defence, meteorology, space and telecommunications.
Bharat Electronics Limited
In the day’s trade as above, the shares of Bharat Electronics Limited were trading at Rs. 140.45, up 0.75 percent from its previous day’s close price of Rs. 139.45 and its market capitalization is Rs. 1,02,665 Crores.
Its revenue from operations grew 15.4 percent from Rs. 15,368.18 Crores in FY22 to Rs. 17,734.44 Crores in FY23, accompanied by increasing profits of Rs. 2,398.87 Crores to 2,984.42 Crores.
Bharat Electronics Limited has supplied Advance Electronic Warfare suit to the Indian Airforce.
Bharat Electronics Limited is a Navratna central public sector enterprise that operates in the aerospace and defence sector, it primarily manufactures advanced electronic products for ground and aerospace applications.
Written by: Bharath K.S
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