The shares of this small-cap aerospace company surged around 8 percent to an intraday high of Rs 644.80 per share on Thursday after they received an order worth Rs 14 crores from Bharat Electronics Limited.
Share price movement: With a market capitalization of Rs 1,579.76 crores, the shares of Taneja Aerospace & Aviation Ltd rose by 3.67 percent at 1:15 pm, trading at Rs 619.50 apiece on Thursday’s afternoon market hours. The shares of this firm have generated a multi-bagger return of 223 percent over the past year and 81 percent in the past six months.
What happened: According to Taneja’s stock exchange filings, the firm has disclosed that they have received an order worth over Rs 14.47 crores from Bharat Electronics limited, Hyderabad. The order needs to be executed within the next three years and it is for the modification/installation of the Aircraft SARANG system on Kamov-31 for 12 Nos.
Financials: Reviewing the financials of Taneja Aerospace on a year-on-year basis, the revenues declined by 6.25 percent from Rs 32 crores in FY23 to Rs 30 crores in FY24. In the same time frame, there was no change in the net profits as they stood at Rs 11 crores for both years.
Customer Base: Taneja caters to various prominent customers such as HAL, Defense Research and Development Organization, Bharat Electronics, Indian Air Force, Defense Electronics Research Laboratory, Vikram Sarabhai Space Centre, Aeronautical Development Establishment, Centre for Airborne Systems, etc.
Ratios: Additionally, for the margin ratios as of 2024, the Net profit margin, operating margin, and gross profit margin stood at 36.67 percent, 52.65 percent, and 64.89 percent, respectively.
Shareholding Pattern: As of March 2024, the firm’s shareholding pattern stood at 52.30 percent for promoters, 47.34 percent for the public, 0.16 percent for foreign institutional investors, and 0.20 percent for domestic institutional investors.
About the Company: Established in 1994 and headquartered in Bangalore, Taneja Aerospace & Aviation Limited is engaged in the business of manufacturing and selling various parts and components to the aviation industry, providing services related to Airfield & MRO, and allied services.
Written By Zahal.
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