Shares of this smallcap company jumped upto 5 percent in Friday’s trading session after receiving an order worth Rs. 5.8 crores from a Hyderabad-based company. In one year, the shares have delivered a multi-bagger return of 235 percent to its shareholders.
Price Movement:
With a market capitalization of Rs. 1,637 crores, the shares of Taneja Aerospace & Aviation Ltd started Friday’s trading session on a higher note at Rs. 632.40 compared to its previous close of Rs. 622.90. During the trading session, the shares hit a high of Rs. 669.50, gaining around 5 percent and are currently trading at Rs. 642 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received an order worth Rs. 5.8 crores from Hyderabad-based Company for modification and Installation of instrumentation on Helicopters.
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Financials:
Looking at the company’s financial statements, the revenue increased by 2 percent from Rs. 31.2 crores during FY22-23 to Rs. 31.86 crores in FY23-24. In addition, the net profits magnified by 100 percent from Rs. 5.47 crores to Rs. 10.99 crores during the same period.
Recent Developments:
Earlier, the company had received an order from Bharat Electronics for Aircraft modification/installation of the SARANG system on Kamov-31 for 12 Nos. The total basic order value was over Rs. 14.47 crores.
Important Financial Ratios:
In terms of key financial metrics, the company reported a return on equity of 8.53 percent and a return on capital employed of 11.28 percent for the period spanning FY23-24. Additionally, the net profit margin stood at 36.67 percent during the same timeframe.
Customer Base:
The company manufactures aerospace components and structures for companies like HAL, Defense Research and Development Organization, Bharat Electronics, Indian Air Force, Defense Electronics Research Laboratory, Vikram Sarabhai Space Centre and many more.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters hold 52.20 percent of the stake, the Public holds 47.77 percent of the shares, and the remaining 0.02 percent of the stakes are held by Foreign Institutional Investors (FIIs).
Company Profile:
Headquartered in Bangalore, Taneja Aerospace & Aviation Ltd is engaged in the business of manufacture and sale of various parts and components to the aviation industry, providing services related to Airfield & MRO and allied services.
Written By Vaibhav Patil
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