10,000 per cent returns: This multibagger telecom infrastructure company bags new orders worth Rs 109.76 crore from Ministry of Defence
The stock gave multibagger returns of 270 per cent in just 1 year, 1,300 per cent in 3 years and a whopping 10,000 per cent in a decade.
Established in 1990, Avantel Limited specializes in integrating cutting-edge communication and technology solutions. Headquartered in Visakhapatnam with a corporate office in Hyderabad, Avantel is renowned for its advanced technological products and services catering to strategic sectors such as defence and aerospace. Certified with AS 9100D and ISO 9001:2015, the company focuses on delivering high-quality, reliable solutions that align with the stringent requirements of its clients, including various government and defence entities. Avantel's commitment to innovation and quality has positioned it as a key player in India's technology landscape.
Avantel Limited has been awarded a significant supply order worth Rs 109.76 crore by the Ministry of Defence, Government of India. This domestic contract involves supplying SATCOM equipment and must be completed within 12 months.
According to Quarterly Results, the net sales decreased by 20.5 per cent to Rs 41.76 crore and net profit increased by 26.2 per cent to Rs 12.15 crore in Q4FY24 over Q4FY23. As of annual results, the net sales increased by 45.3 per cent to Rs 224.37 crore and net profit increased by 96 per cent to Rs 52.55 crore in FY24 over FY23.
Also Read: Vijay Kedia gains Rs 12,06,05,760 from this multibagger engineering stock in just 1 day as the company reports a 197 per cent jump in net profit
The company is a Small-Cap company having a market cap of over Rs 2,900 crore with a 3-year stock price CAGR of 142 per cent. The shares of the company have an ROE of 40 per cent and a ROCE of 48 per cent. In the previous financial year, the shares of the company have ex-traded bonus shares and stock split in the ratio 2:1 and 5:1 respectively with November 11, 2023 and August 14, 2023, respectively their ex-dates.
The stock gave multibagger returns of 270 per cent in just 1 year, 1,300 per cent in 3 years and a whopping 10,000 per cent in a decade. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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