1,800 per cent returns: This multibagger defence electronics company bags new order worth Rs 67.92 crore; PAT zooms over 160 per cent!

Shares of this company have gained more than 240 per cent in the last six months.

Avantel Limited has received a provisional purchase order worth Rs 67.92 crores from NewSpace India Limited for the supply, installation and commissioning of satcom terminals (Xponders). The order is expected to be executed by October 2024. Avantel Limited recently issued bonus equity shares in a 2:1 ratio.

The company posted strong results in Q2FY24. The revenue of the company stood at Rs 54.33 crore which grew by 49.9 per cent YoY. The operating profit of the company stood at Rs 25.35 crore, while the PAT of the company stood at Rs 16.07 crore, representing a growth of 161.6 per cent YoY.

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Shares of Avantel Limited have also delivered multibagger returns to their shareholders in the last three years. During this period, the company’s share price jumped from Rs 6.16 on December 04, 2020, to Rs 123.10 on December 01, 2023, an increase of about 1800 per cent in a three-year holding period. While in the last six months, the stock has gained over 240 per cent.

Avantel Limited is engaged in the business of designing, developing and maintaining wireless and satellite communication products, defence electronics, radar systems and development of network management software applications for its customers mainly from the aerospace and defence sectors.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.

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