In the Friday session, the small-cap share rose 5 percent to an intraday high of Rs 4,214 from its previous close after the company announced it finished delivering the projects.
Dynamatic Technologies Limited, on November 27 that it had finished delivering the first Airbus A220 Escape Hatch Door to Airbus Atlantic. This crucial part is incorporated into Airbus Atlantic’s A220 Nose Fuselage, which is manufactured in Mirabel, Canada.
According to the company, the latest milestone represents a significant advancement in the development and production of this critical component for the Airbus A220 aircraft.
Dynamatic has collaborated with Airbus Atlantic to ensure that the escape hatch door not only meets, but exceeds, the highest quality standards and adheres to the aviation industry’s stringent safety requirements. The official handover ceremony was held at the Dynamatic facility in Bengaluru, with senior executives from both Dynamatic and Airbus Atlantic in attendance.
The managing director and CEO of Dynamatic Technologies Limited, Udayant Malhoutra, stated.”We are pleased to announce the successful completion of the initial delivery of the Airbus A220 Escape Hatch Door… It underscores our commitment to providing top-tier aerospace solutions and our capacity to meet the exacting quality standards set by our esteemed customers,”
The company has reported its net revenue rose 8.3 percent year on year from Rs 323 crores in Q2FY23 to Rs 350 crores in Q2FY24. In addition, net profit rose by 20 percent year on year, from Rs 10 crores in Q2FY23 to Rs 12 crores in Q2FY24.
The company’s promoters hold a 41.87 percent stake in the company, with 16.67 percent owned by foreign institutional investors, 30.44 percent owned by the general public, and 11.02 percent owned by domestic institutional investors.
Dynamatic Technologies Limited is a small-cap company with a market capitalization of Rs 2,790 crores. The share price of the company has increased by 20 percent in the last six months and 69 percent in the year to date.
Dynamatic Technologies Limited (DTL), founded in 1973, manufactures hydraulic gear pumps and automotive turbochargers. They serve clients across Aerospace, automotive and hydraulic industries. DTL manufactures in Europe and India and serves customers on six continents.
Written by Sriram KV
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