Ashish Kacholia-Backed Aerospace and Defence Company Secures Order Worth Rs 49.22 Crore, Stock Hits Upper Circuit Today!
The company’s shares have delivered an impressive return of around 45 per cent to its shareholders in the past 6 months.
This Small-Cap company a key player in the electronics manufacturing services (EMS) sector, has announced the receipt of significant purchase orders amounting to Rs 49.22 crores.
Incorporated in 2001, Vinyas Innovative Technologies Limited specializes in providing comprehensive design, engineering, and manufacturing services to global Original Equipment Manufacturers (OEM) and Original Design Manufacturers (ODM) in the electronics industry.
The purchase orders have been awarded by a diverse range of domestic and international customers, underscoring the company's strong market presence and trusted partnerships. These contracts, secured on standard terms and conditions typical for the company's operations, will be executed as per the timelines specified in the respective purchase orders.
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On Tuesday, the shares of Vinyas Innovative Technologies closed at around Rs 946.15 per share on the NSE. The company’s current market capitalization stands at Rs 1190.70 crore.
As per the half-yearly results, in March 2024, Vinyas Innovative Technologies Limited recorded a revenue of Rs 180 crore compared to Rs 121 crore. The operating profit stood at Rs 19 crore. The net profit stood at Rs 10 crore compared to a profit of Rs 4 crore. Looking at the annual performance, the company generated a revenue of Rs 317 crore in FY24. The operating profit for FY24 was Rs 33 crore with a net profit of Rs 15 crore compared to a net profit of Rs 7 crore in FY23.
Bengal Finance and Investment (Ashish Kacholia) owns a 1.32 per cent stake in the company since its IPO listing. As per the latest quarterly, they are maintaining their stake in the company.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.