9,500 Per Cent Returns: Multibagger Aerospace & Defence Telecom Stock In Green As Board Is Likely To Raise Funds Via Rights Issue

The stock gave multibagger returns of 110 per cent from its 52-week low, 1,100 per cent in 3 years and a whopping 9,500 per cent in a decade.

Established in 1990, Avantel Limited specializes in integrating cutting-edge communication and technology solutions. Headquartered in Visakhapatnam with a corporate office in Hyderabad, Avantel is renowned for its advanced technological products and services catering to strategic sectors such as defence and aerospace. Certified with AS 9100D and ISO 9001:2015, the company focuses on delivering high-quality, reliable solutions that align with the stringent requirements of its clients, including various government and defence entities. Avantel's commitment to innovation and quality has positioned it as a key player in India's technology landscape.

The Board of Directors of the Company will be held on Thursday, October 24, 2024, inter alia, to consider and approve the proposal for fundraising by the issue of equity shares through Rights Issue or any other appropriate mode, as may be decided by the Board, subject to requisite approvals.

Earlier, Avantel Limited secured a substantial Rs 44.49 crore Purchase Order from Larsen & Toubro Limited for Satcom Systems, to be domestically manufactured and delivered by March 2025. This follows two other significant orders: a Rs 67.92 crore contract from NewSpace India Limited for Satcom Terminals and a Rs 3.45 crore PO from Bharat Electronics Limited for Satcom Equipment, both with scheduled completion dates in April and July 2025, respectively. These contracts underscore Avantel's leading position in the Satcom sector and its capacity to deliver cutting-edge communication solutions to meet rising market demands.

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According to Quarterly Results, the net sales increased by 42.6 per cent to Rs 77 crore and net profit increased by 43.8 per cent to Rs 23 crore in Q2FY25 over Q2FY24. As of annual results, the net sales increased by 45.3 per cent to Rs 224.37 crore and net profit increased by 96 per cent to Rs 52.55 crore in FY24 over FY23.

The company is a Small-Cap company having a market cap of over Rs 4,350 crore with a 3-year stock price CAGR of 160 per cent. The shares of the company have an ROE of 39 per cent and a ROCE of 47 per cent. The stock gave multibagger returns of 110 per cent from its 52-week low, 1,100 per cent in 3 years and a whopping 9,500 per cent in a decade. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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