Vijay Kedia-Backed Company Bags Rs 96.42 Crore Order for Mobile Satellite Terminals from NewSpace India for Marine Vessels!

The company’s shares have delivered an impressive return of around 150 per cent to its shareholders.

Saankhya Labs Private Limited, a majority-owned subsidiary of this Tata Group Company, has received a final purchase order valued at Rs 96.42 Crore from NewSpace India Limited.

The order, issued by the CPSE under the Department of Space, Government of India, is for the supply, installation, and commissioning of Two-way Mobile Satellite Service (MSS) Terminals (Xponders) to Tejas Network. These terminals are intended for vessel communication and support systems in marine fishing vessels, specifically for monitoring, control, and surveillance (MCS).

On Friday, the shares of Tejas Network closed at around Rs 1207.10 per share on the BSE. The company’s current market capitalization stands at Rs 20,645.83 crore.

As per the Quarterly Results, in the Q1 FY25, Tejas Network recorded a revenue of Rs 1563 crore compared to Rs 188 crore. The operating profit stood at Rs 230 crore. The net profit stood at Rs 77 crore compared to a loss of Rs 26 crore. Looking at the annual performance, the company generated a revenue of Rs 2471 crore in FY24. The operating profit for FY24 was Rs 266 crore with a net profit of Rs 63 crore compared to a net loss of Rs 36 crore in FY23.

According to the shareholding pattern of the company, the promoters hold a significant 55.50 per cent stake. Public investors own 29.39 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 10.20 per cent and Domestic Institutional Investors (DIIs) own 4.91 per cent. Vijay Kedia has a 1.87 per cent 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.