On Wednesday, the shares of a leading manufacturer of Engineering components rose 20 percent to a 52-week high price of Rs 69.60 per share after the company received an order from the Defence Research and Development Organization.
At 12:32 p.m. on the National Stock Exchange, Ameya Precision Engineers Ltd shares were trading at Rs 66.10 per share, up Rs 8.10 or 13.97 percent from the previous close price. The company has a market valuation of Rs 49 crore.
As per the company’s exchange filing, Ameya Precision Engineers has received a Purchase Order from Defence Research and Development Organisation (DRDO)- Armament Research & Development Establishment (ARDE), a Ministry of Defence of the Government of India, for the delivery of PCB Empty Assy (LR-LACM) for Rs.91,34,002/-.
The Company’s revenue climbed by 20 percent year on year, rising from Rs 23.64 crore in FY 21-22 to Rs 28.51 crore in FY22-23.Net profit climbed by 22 percent within the same time frame, from Rs 1.52 crore to Rs 1.82 crore.
The Ameya Precision Engineers Share rose by 69 percent in the previous month and by 67 percent over the preceding three months.
In the most recent fiscal year, the firm exhibited declining profitability ratios, with a return on equity of 9.54 percent and a return on capital employed of 12.51 percent.
According to the recent shareholding pattern, the promoters hold 72.64 percent of the company, while retail investors hold 27.36 percent.
Ameya Precision Engineers Limited specializes in the production of high-end precision components (shafts and other trim components) for the general engineering sector, with a particular emphasis on valve and pump manufacture.
As penny stocks are illiquid, even a small number of orders might cause a circuit limit. Individual investors should do extensive research before buying high-return penny stocks since they lack consistency in performance and hence create a high risk to retail investors.
Written by Omkar Chitnis
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