Defence Stock engaged engaged in the business of designing and manufacturing, critical components for Defence, E-Vehicles, and Software Development hit a 5 percent upon signing Exclusive Manufacturing Agreement for ammunitons.
With a market capitalization of Rs. 1,922 Crores, the shares of Nibe Limited hit a 5 percent upper circuit at Rs. 1,463.50.
Nibe Limited has executed ‘the Exclusive Manufacturing Agreement’ with Munition India Limited(MIL) to manufacture and supply hardware to MIL for export of Ammunitions in product range of MIL. Both the parties will work together for export of ammunitions in product for a period of 10 years
Nibe Limited is engaged in the business of designing, manufacturing, supplying, erecting, testing of critical components for Defence, E-Vehicles, and Software Development.
The company’s standalone revenue from operations grew 400 percent from Rs. 21 Crores in FY22 to Rs. 105 Crores in FY23, the company has just become profitable in 2023 by earning a profit of Rs. 5 Crores and it has a trailing twelve months profit of Rs. 8 Crores.
It has reported a return on equity (ROE) of 11.8 percent and a return on capital employed (ROCE) of 15.9 percent, it is making decent returns on its equity and capital employed.
According to the latest shareholding data available for the quarter ended December 2023, the company’s Promoters hold a 49.96 percent stake, the Foreign Institutional Investors (FII) hold 10.43 percent and the Domestic Institutional Investors hold 0.78percent.
Written by: Bharath K.S
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