LIC sold 13,56,366 shares: Multibagger Aerospace & Defence Company Announces Robust Q2 and H1 FY 2024-25 Results and Strategic Developments
The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 43.40 per share.
On Tuesday, shares of Jaykay Enterprises Ltd hit a 5 per cent upper circuit to Rs 134.55 per share from its previous closing of Rs 128.15 per share with a spurt in volume by 2 times on BSE. The stock’s 52-week high is 166.19 per share and its 52-week low is Rs 43.40. The company has a market cap of over Rs 1,500 crore.
JayKay Enterprises Ltd. (JKE), with a strong presence in the Defence, Aerospace, Digital and Advanced Systems, has reported significant progress in its business performance in the second quarter and first half of the financial year 2024-25. Highlights are as follows.
Financial Performance
For Q2FY25, JKE achieved an Operating Revenue of Rs 3,081 lakh, marking a year-on-year growth of 279 per cent compared to Rs 814 lakh in the same period last year. Q2 revenue was up 80 per cent over the preceding quarter from Rs 1,714 lakh. Profit After Tax stood at Rs 58 lakh, primarily due to a reduction in Non-Operating Income during the quarter. For H1FY25, operating revenue was Rs 4,795 lakh vs Rs 1,509 lakh last year, showing a growth of 218 per cent.
Rights Issue
JKE successfully completed a Rights Issue, raising Rs 146 crore, which will be deployed according to the outlined use of funds. This successful capital infusion strengthens the company’s financial base, supporting ongoing and future growth initiatives.
Defence & Aerospace Segment
JKE's SilverGrey division continues to make significant strides in the aerospace component manufacturing sector. Having successfully completed key export projects, the division is actively engaged in advanced discussions with prominent global players to further expand its international footprint.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
JK Defence & Aerospace Ltd., a wholly owned subsidiary of JKE, has received a strategic land allocation from the Government of Karnataka for its Defence & Aerospace Park in Bengaluru. This development marks a significant milestone for the company as it embarks on detailed expansion planning to capitalize on the growing opportunities in the defence and aerospace industry. Additionally, Allen Reinforced Plastics Pvt Ltd. (ARPL), a subsidiary of JK Defence & Aerospace Ltd., has successfully completed the expansion of its Bolaram facility, enhancing its production capacity for critical components for programs like BrahMos and Konkur. The company is also actively pursuing the expansion of its Cherlapally plant to further strengthen its manufacturing capabilities and meet the increasing demand for its products.
About the Company
JayKay Enterprises Ltd. (JKE) is a leading diversified company with a strong portfolio in defence, aerospace, digital and advanced systems. Through its divisions and subsidiaries, JKE is committed to delivering industry-leading solutions, driving innovation, and contributing to India’s strategic industrial base.
As of September 2024, the Life Insurance Corporation of India (LIC) sold 13,56,366 shares or 2.32 per cent stake in the company. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 43.40 per share. Investors should keep an eye on this small-cap aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.