Micro-cap communications and cyber security products manufacturer hits 5 percent upper circuit in the day’s trade after it bagged orders worth Rs. 6.08 Crores from Tejas Networks, which is part of the famous Indian Conglomerate the Tata Group.
At 11:30 a.m the shares of Valiant Communications hit 5 percent upper circuit at Rs. 259.65 and its market capitalization is Rs. 188 Crores.
As per the company’s filing, Valiant Communications has bagged orders worth Rs. 6.08 Crore from Tejas Networks, a Tata Group Company, for the supply of its indigenously developed and manufactured Communication, Protection and Synchronization solutions and the order is to be executed by March 31, 2024.The supply shall be part of the international contract awarded by Bhutan Power System Operator (BPSO) to Tejas Networks.
Valiant has also partnered with Tejas, for power utility overseas markets for multi-year contracts. Given the global reach of the Tata Group, the management is optimistic about the outcome about such global opportunities
The company’s revenue grew 138.64 percent from Rs. 13.2 Crores in FY22 to Rs. 31.5 Crores in FY23, accompanied by decreasing loss of Rs. 2.63 Crore to a profit of Rs. 1.68 Crore.
It has reported a return on equity (ROE) of 5.26 percent and a return on capital employed (ROCE) of 7.11 percent, it is making decent returns on equity, capital employed and is trying to increase its profitability ratios year on year.
Valiant is a manufacturer and exporter of a wide range of communications, transmission, protection, synchronization and cyber security products. It is an approved manufacturer to some of the major power utilities including Power Grid Corporation (India) and various National and State Electricity Boards.
Written by: Bharath K.S
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