Rs 4,26,00,000 worth order bagged by this multibagger small-cap company from the Indian Army for submachine guns 9x19 mm machine pistol; must watch!
The stock has delivered a remarkable return of over 400 per cent in the past 2 years.
In a significant development in India's aerospace and defence landscape, this Small-Cap company has received an order worth Rs 42.6 million from the Northern Command, Indian Army, Department of Military Affairs, Ministry of Defence, Government of India, for the supply of submachine guns 9x19 mm Machine Pistol (ASMI) with accessories. The order has been awarded by a domestic entity and entails a supply order with significant terms including the delivery of the specified submachine guns and accessories. This domestic order is to be executed by September 28, 2024.
Incorporated in 1983, Lokesh Machines Limited, an India-based company, specializes in the manufacturing of special purpose machines (SPM), general purpose machines/CNC lathes (GPM), connecting rods, and the machining of cylinder blocks and heads. The Company operates through two segments: Machines Division and Component Division.
Share Performance:
On Friday, the company's stock closed at around Rs 408.30 per share, with a market capitalisation of Rs 755.22 crore. Additionally, the stock has delivered a multibagger return of around 185 per cent in the past year only.
In terms of shareholding pattern, as of March 2024, the company’s promoters hold a 50.76 per cent stake in the company while FIIs hold 0.27 per cent and the public ownership stands at 48.98 per cent as per the recent update.
Financial performance:
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 80.34 crore and a net profit of Rs 4.69 crore. In FY24, the company reported a revenue of Rs 294 crore and a net profit of Rs 14 crore, compared to a net profit of Rs 10 crore in the previous year.
Investors must keep this small-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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