FIIs bought 13,600 shares and Rs 113 crore order book: This aerospace & defence company bags new order worth Rs 46,46,00,000 from Mazagon Dock Shipbuilders Ltd
The company's shares have an ROE of 51 per cent and an ROCE of 34.3 per cent.
CFF Fluid Control Ltd informed that the company has bagged an order for a biennial rate contract for engineering work for Project-MRLC-2 INS Shankush from Mazagon Dock Shipbuilders Limited Dockyard Road, Mumbai-400010. The order is worth Rs 46,46,00,000 and will be delivered by August 2026.
Earlier, the company bagged new orders totalling Rs 4,14,00,000, inclusive of taxes, from the Naval Ship Repair Yard, Naval Base, Karwar, involving the provision of Routine and Repair Contracts (RRC) for hull valves and doublers on P-75 class submarines. These orders are scheduled for delivery by February 2027. Additionally, the company had previously secured an order valued at Rs 4.81 crore, taxes included, from the Indian Navy's Controller Procurement, Material Organisation in Mumbai. This order pertains to the procurement of a spare P75 project, with delivery anticipated by August 2024.
CFF Fluid Control Limited is primarily engaged in the business of manufacturing and servicing shipboard machinery. The company manufactures critical component systems and test facilities for submarines and surface ships for The Indian Navy. The company has a market cap of over Rs 1,000 crore and as of September 2023, the company’s order book stands at Rs 113 crore. Additionally, the company reported positive numbers in its half-yearly results (H1FY24) and annual results (FY23).
Today, shares of CFF Fluid Controls Ltd plunged 0.61 per cent to Rs 451 per share with an intraday high of Rs 461.95 and an intraday low of Rs 451. The stock’s 52-week high is Rs 548.95 and its 52-week low is Rs 165.
In September 2023, FIIs bought 13,600 shares or 0.07 per cent stake in the company. The company's shares have an ROE of 51 per cent and an ROCE of 34.3 per cent. The stock gave multibagger returns of 150 per cent in just 1 year.
Disclaimer: The article is for informational purposes only and not investment advice.
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