On Wednesday, a multibagger microcap stock gained 3 percent after bagging an order worth ₹8.80 crore from the Ministry of Defense. The stock has delivered 153.59 percent returns in one year.
With a market capitalization of ₹506 crore, Krishna Defence and Allied Industries Ltd. (KDAIL) rose by 3 percent from its previous close of ₹362.45 per share to an intraday high of ₹372.90 per share.
Krishna Defence and Allied Industries Ltd. has received an order worth ₹8.80 crore from the Ministry of Defence for the supply of a special steel product to be used for naval applications. According to the company’s exchange filing, KDAIL claims that this order has contributed to their total order wins of ₹193.42 crore for the current financial year.
On a YoY basis, revenue from operations of the company has increased by 28 percent from ₹49.52 crore in FY22 to ₹63.34 crore in FY23, and in the same period, net profits increased by 115 percent from ₹2.46 crore to ₹5.3 crore.
The shareholder pattern of the company shows that 73.38 percent is held by the promoters, and the remaining 26.62 percent is held by the public.
Krishna Defence & Allied Industries Limited (KDAIL), previously known as Krishna Allied Industries Ltd., founded in 1997, is an Indian manufacturing firm with comprehensive in-house capabilities for designing, developing, and manufacturing a wide range of equipment for defence, homeland security, & dairy. Since its inception, the company has increased its production capacity to manufacture products and custom components.
Furthermore, Krishna Defence & Allied Industries Limited holds a transfer of technology agreement with the Defense Research and Development Organization (DRDO) for the production and supply of specialised defence application goods in the defence sector.
Written by Praveen R.
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