The company that manufactures and sells telecom products marginally gained nearly 0.7 percent on Tuesday after it received an order worth ₹2.86 crore from Bharat Dynamics Limited.
Avantel Limited is a Small cap company with a market capitalization of ₹2,497 crore. At 12:15 p.m, the company shares were trading at ₹101.80 a share, a decrease of 0.59 percent from the previous closing price on the stock exchange.
According to the company’s exchange filing, on March 22, 2024. the company received a purchase order worth ₹ 2.86 crore from Bharat Dynamics Limited.
Avantel Limited is engaged in the business of designing, developing, and maintaining wireless and satellite communication products, defence electronics, radar systems, and network management software applications for its customers, primarily from the aerospace and defense sectors.
The company experienced significant growth in its annual revenue, with a 52 percent increase from ₹39 crores in Q3 FY23 to ₹59 crores in Q3 FY24. Additionally, there was a noteworthy rise in net profit, which surged by 112 percent, from ₹8 crore to ₹17 crore during the corresponding period.
The company’s notable customer base includes. The Indian Army, Indian Railways, Indian Air Force, Indian Navy, ISRO, DRDO, L&T, Boeing, Goa Shipyard Ltd, CSL, etc.
The company has set up a manufacturing facility in the Andhra Pradesh Medical Tech Zone (APMTZ), Visakhapatnam. It is planning to further establish a new capacity for medical devices, and the planned capex is ₹ 25 crore.
Avantel Ltd shares gained 39 percent in the last six months and multibagger returns of 304 percent in the last 12 months. For instance, a shareholder investment of ₹1 lakh in a company a year ago would be worth 4.04 lakhs.
As per the recent shareholding pattern, The Promoters of the Company own 40.10 percent, while retail shareholders own 59.89 percent of the company.
Written by Omkar Chitnis
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