Engineering company incorporates a new subsidiary for business expansion into the Defence & Aerospace and Defaero Engineering sector
The stock gave multibagger returns of 480 per cent from its 52-week low of Rs 116.5 per share.
Sunita Tools Limited announced the incorporation of its new subsidiary, Sunita Imperial Aerospace Private Limited. The subsidiary was officially incorporated under the Companies Act, 2013 and will serve as a key entity in the company’s expansion into the Defence & Aerospace and Defaero Engineering sector.
Immediately following the incorporation, Sunita Imperial Aerospace Private Limited entered into a Business Takeover Agreement with Imperial Auto Crafts, a sole proprietorship represented by Mr. Ramesh Kumar. Imperial Auto Crafts, based in Coimbatore, Tamil Nadu, has an established reputation in the aerospace and engineering industry. The agreement was executed in Mumbai and became effective on September 12, 2024.
This strategic business acquisition aligns with Sunita Tools Limited’s long-term growth objectives and strengthens its foothold in the Defence & Aerospace sector. The acquired business will continue to operate under the new management of Sunita Imperial Aerospace Private Limited, ensuring continuity and growth.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
The new subsidiary has an initial paid-up capital of Rs 10,00,000, divided into 1,00,000 equity shares of Rs 10 each. Its main business objective will remain aligned with the existing operations of Imperial Auto Crafts, focusing on precision defence & aerospace precision machining and various machining and precision engineering services to the CNC machine manufacturers in South India and oil & gas industry.
Sunita Tools Limited, a seasoned player in the engineering and mould-based industry for over three decades, offers tailored solutions to diverse sectors. The company’s core expertise lies in manufacturing ground plates, mould bases and precision CNC machining. The products are essential components for industries like Automotive, Pharmaceutical, Electronics and Consumer Goods that undergo rigorous quality checks to ensure they meet industry standards. Strategically located in Vasai, Mumbai, our manufacturing facility benefits from easy access to resources and logistics.
The company has a market cap of Rs 380 crore. The company's promoters own 72.98 per cent of the shares, while the remaining 27.02 per cent are owned by the public. The stock gave multibagger returns of 480 per cent from its 52-week low of Rs 116.5 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: Defence company bags new order worth Rs 4.20 crore from Economic Explosives Ltd & DRDO & lowest bidder (L1) for an order worth Rs 72.26 crore from Munitions India Ltd