Rs 280.36 crore order book: This aerospace and defence company receives order worth Rs 88.06 crore from Ministry of Defence!
On June 09, 2023, the shares of the company saw a spurt in volume by more than 4.09 times on BSE.
IdeaForge Technology Ltd informed that the company has received orders worth about Rs 88.06 crore (exclusive of GST) to supply surveillance quadcopters with accessories to one of the forces under the Ministry of Defence, Government of India.
According to the Quarterly Results, the company reported net sales of Rs 97 crore in Q1FY24 compared to net sales of Rs 99 crore in Q1FY23, a decrease of 2 per cent. The net profit decreased by 53.66 per cent to Rs 19 crore in Q1FY24 compared to a net profit of Rs 41 crore in Q1FY23. The company’s current order book stands at Rs 280.36 crore including the above order.
IdeaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS) for mapping, security & surveillance. These drones are capable of a wide range of mining area planning, and mapping applications.
Today, shares of IdeaForge Technology surged 1.79 per cent to Rs 1,028.45 crore with an intraday high of Rs 1,031.75 and an intraday low of Rs 1,017.05. The stock’s 52-week high is Rs 1,344 and its 52-week low is Rs 996.10.
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On June 09, 2023, the shares of the company saw a spurt in volume by more than 4.09 times on BSE. Investors should keep an eye on BSE IPO stock.
Disclaimer: The article is for informational purposes only and not investment advice.