With a market capitalisation of Rs. 51,834 crore, shares of Avantel Ltd. opened at Rs. 126.9 on Monday from its previous close of Rs. 124.65.
The company has delivered a positive return of more than 122.9 percent in the last six months compared to more than 355.9 percent in the last one year. So far in 2024, it has given around 3.71 percent returns.
According to the recent filings on the BSE, Avantel Ltd. received a purchase order worth of Rs. 8.95 crore from Hindustan Shipyard Limited on Monday.
The order received by Avantel is for the supply of satcom equipment and the time period mentioned by which the order is to be executed is from March 2026 to July 2029.
A few days back, Avantel received a Supply Order worth of Rs. 5.30 crores from Naval Headquarters, Ministry of Defence on January 19. The order was for the development and manufacturing of Satcom Baseband equipment for the C-band Hub.
In terms of financials, the company’s revenue from operations grew by 9.25 percent from Rs. 54 crores in the September 2023 quarter to Rs. 59 crore in the December 2023 quarter. The net profit remains unchanged at Rs. 17 crore from September to December 2023 quarter.
As of December 2023, DIIs hold 0.01 percent of the shares, whereas the Public holds 59.89 percent of the shares in the company. The Promoters’ holding has remained unchanged at 40.10 percent for more than two years.
Incorporated in 1990 as a private limited company under the name of Dialog Communications Private Limited, Avantel provides innovative, customised network-centric solutions through products for defence platforms including Ships, Submarines, Aircraft or Helicopters.
The company is engaged in designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and development of network management software applications from the aerospace and defence sectors.
Written by Shivani Singh
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