1,400 per cent returns: This multibagger defence stock bags a new order worth Rs 6.55 crore from Mazagon Dock Shipbuilders!

Shares of the company have gained more than 200 per cent in the last one year.

Avantel Limited secured two new domestic orders totaling Rs. 6.55 crore. The first order, valued at Rs. 4.26 crore, came from Mazagon Dock Shipbuilders Limited and involves supplying unspecified equipment with a 48-month warranty and a 5 per cent performance bank guarantee. The deadline for completion is November 2nd, 2024.

The second order, worth Rs. 2.29 crore, was placed by Bharat Electronics Limited for supplying equipment requiring inspection by BEL and carrying a 12-month warranty. This order needs to be fulfilled by March 5th, 2025. These contracts highlight the company’s continued presence in the domestic defense sector, supplying equipment to major companies involved in shipbuilding and electronics.

Avantel Limited reported a weak fourth quarter for FY24, with a net sales decrease of 20.5 per cent to Rs 41.75 crore, compared to Rs 52.53 crore in the same quarter last year. The operating profit also experienced a significant increase of 2.11 per cent. The net profit for the quarter stood at Rs 12.15 crore, which was Rs 9.63 crore in the previous year's same quarter.  

Avantel Limited is in the design and development of products based on high-power broadband wireless, satellite communication, and broadband access technologies. The design, development, and integration of wireless and access products are carried out using standard and proprietary software tools. The stock has delivered over 1,400 per cent returns in the last 3 years.

The stock has shown impressive growth, and investors should keep a close eye on this stock.         

Disclaimer: The article is for informational purposes only and not investment advice.