From Rs 7.60 to Rs 30 per share in just 10 months: Debt-free multibagger defence telecom stock reports a turnaround net profit in Q1FY25
The stock’s 52-week high is Rs 35.24 per share while its 52-week low is Rs 7.60 per share, gaining multibagger returns of 295 per cent in just 10 months.
On Wednesday, shares of Kavveri Telecom Products Limited were locked in a 2 per cent lower circuit to Rs 30 per share from its previous closing of Rs 30.62. The stock’s 52-week high is Rs 35.24 per share while its 52-week low is Rs 7.60 per share, gaining multibagger returns of 295 per cent in just 10 months.
Kavveri Telecom Products Limited has experienced significant stock price growth, hitting consecutive upper circuits and 52-week highs. This surge follows the company's board approval on July 18, 2024, to initiate a name change to Kavveri Defence & Wireless Technologies Limited. On July 29, 2024, the Central Registration Centre approved the application for this name change, confirming its availability for the company. However, the new name must be adopted within 60 days and remains subject to potential withdrawal if irregularities are discovered, while also requiring adherence to provisions of the Companies Act, 2013.
Earlier, Kavveri Telecom, a top wireless subsystem maker, landed a major Rs 109 million order for homegrown radio frequency products and antennas. This aligns with the Make in India initiative, boosting domestic production. Kavveri's R&D investment paid off, and they now eye global markets to make India a telecom equipment manufacturing hub.
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According to Quarterly Results, the net sales increased by 107 per cent to Rs 0.62 crore in Q1FY25 compared to Rs 0.30 crore in Q1FY24. The company reported a turnaround net profit of Rs 0.03 crore in Q1FY25 compared to a net loss of Rs 0.20 crore in Q1FY24, an increase of 115 per cent.
Kavveri Telecom is a leading wireless products manufacturer, providing world-class hardware products and solutions for the telecom, defence and space industry. Kavveri Telecom combines expertise with experience to deliver state-of-the-art products and solutions spanning the wide spectrum of the wireless Industry up to 18 GHz frequency range. The diverse range of products manufactured by Kavveri includes Antennas, RF (Radio Frequency) Components, Filters, Combiners, Multi-couplers, Repeaters, TMA/TMB and many more.
The company has a market cap of Rs 60.4 crore and it's completed debt-free as of March 2024. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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