This small-cap stock signed MoU with Indian National Space Promotion and Authorization Centre (IN-SPACe). Do you own it?

Design and creation of an all-liquid, two-stage small satellite launch vehicle for low-earth orbit.

MTAR Technologies Ltd and the Indian National Space Promotion and Authorization Centre (IN-SPACe) have signed a memorandum of understanding (MoU) for the design and development of a two-stage, all-liquid small satellite launch vehicle for low-Earth orbit. The vehicle will have a 500 kg cargo capacity and be powered by semi-cryogenic technology.  

MTAR also approached IN-SPACe for data sharing, technical information and access to ISRO facilities related to the development and testing of space launch vehicle systems and subsequent launch. The agreement will be in effect for three years.  

Established in 1970, MTAR Technologies Ltd is in the business of manufacturing various machine equipment, assemblies, sub-assemblies and spare parts for energy, nuclear, space, aerospace, defense and other engineering industries. The company reported a positive annual consolidated financial result, with net sales increasing by 31 per cent in FY23 compared to FY22. In FY23, operating income increased by 13.3 per cent. In FY22, net profit was only Rs 46 crore; in FY23, it increased to Rs 61 crore or 33 per cent.  

The shares of the company closed higher than the previous closing, up 3.07 per cent to Rs 1731 per share. As of today, the company's 52-week high was Rs 2563.30 and its 52-week low was Rs 1211.85. Furthermore, the company has an ROE of 14 per cent and a ROCE of 16 per cent, respectively. Investors should keep this stock under their watch list.