Aerospace and Defence Company Successfully Delivers First Major Order of 9x19mm Submachine Guns to Indian Army's Northern Command - Keep This Stock on Radar!
The company’s shares have delivered an impressive multibagger return of around 250 per cent to its shareholders.
This Small-Cap defence company has successfully completed its first major order from the Elite Northern Command of the Indian Army for 9x19mm submachine guns, delivering the consignment on time and in full. The shipment was officially flagged off today, September 30th, 2024, by Maj Gen Rakesh Manocha SM, VSM, GOC Telangana, and Andhra Sub Area. The event was also attended by commandants from the AOC Centre, EME Centre, and Artillery Centre, along with other officers from their respective establishments.
Incorporated in 1983, Lokesh Machines manufactures special-purpose machines, general-purpose machines/CNC lathes, and connecting rods, and provides machining for cylinder blocks and heads.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
On Tuesday, the shares of Lokesh Machines closed the day at around Rs 363.60 per share on the BSE. The company’s current market capitalization stands at Rs 672.54 crore. Additionally, the shares have delivered an impressive multibagger return of around 600 per cent in the past 3 years.
As per the Quarterly Results, in Q1 FY25, Lokesh Machines recorded a revenue of Rs 62.53 crore compared to Rs 50.30 crore. The operating profit stood at Rs 8.04 crore. The net profit stood at Rs 1.03 crore compared to a profit of Rs 0.76 crore. Looking at the annual performance, the company generated a revenue of Rs 293 crore in FY24. The operating profit for FY24 was Rs 40 crore with an operating profit margin of 14 per cent and a net profit of Rs 14 crore.
According to the shareholding pattern of the company, the promoters hold a significant 50.76 per cent stake. Public investors own 49.04 per cent of the shares while FIIs own a 0.21 per cent stake in the company.
Check out my recent article here.
Investors must keep this small-cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.