Aerospace & Defence Stock Hit Upper Circuit After Company Bags Orders Worth Rs 3,75,87,076 from Hindustan Aeronautics Ltd
The stock is up by 71.4 per cent from its 52-week low of Rs 125 per share.
TechEra Engineering (India) Limited has recently received substantial orders from Hindustan Aeronautics Limited (HAL) Aircraft Division, Nashik, totaling Rs 3,75,87,076. These contracts signify a significant milestone for the company, solidifying its position as a key supplier of high-quality aerospace components. The scope of work encompasses the precision machining, rigorous inspection, and timely delivery of critical aircraft flying parts. To ensure adherence to the stringent quality standards and technical specifications mandated by HAL, TechEra Engineering will leverage its robust engineering capabilities and state-of-the-art manufacturing processes.
Specifically, the company has been awarded two orders:
Order 1: Valued at Rs. 2,46,40,000, this contract entails the machining, inspection, and delivery of a specific set of aircraft parts as per the detailed drawings and technology provided by HAL. The project is scheduled to be completed within a 24-month timeframe.
Order 2: This order, worth Rs. 1,29,47,076, also involves the machining, inspection, and delivery of critical aircraft components. Similar to Order 1, the project is expected to be completed within a 24-month period.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
TechEra Engineering (India) Limited, established in 2018, specializes in designing, manufacturing, and supplying precision tooling and components for the aerospace and defence industries. The company offers a comprehensive range of products including assembly tooling, jigs, fixtures, MRO tooling, ground support equipment, and precision-machined components. Their state-of-the-art manufacturing facility in Maharashtra, equipped with advanced technologies such as 5-axis machining and 3D modeling, enables them to meet the rigorous standards of the aerospace and defence sectors. Certified to ISO 9001:2015 and AS9100D:2018, TechEra caters to a global clientele spanning North America, Europe, and the Asia-Pacific region.
On Friday, shares of TechEra Engineering (India) Limited hit a 5 per cent upper circuit to Rs 214.20 per share from its previous closing of Rs 204 per share. The company has a market cap of Rs 354 crore with an ROE of 64 per cent and an ROCE of 26 per cent. The stock is up by 71.4 per cent from its 52-week low of Rs 125 per share. Investors should keep an eye on this aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.