Ashish Kacholia Holds 3.17 Per cent Stake: Multibagger Defence-Tech Company Signs MoU with IIT Ropar for Defence and Aerospace R&D
It holds a license for manufacturing bulletproof jackets, vests, helmets, also an industrial license for producing bombs, UAVs, gun mountings, missile systems, and grenades.
Ashish Kacholia-backed Small-Cap company is in heavy engineering and project execution, boasting a diversified portfolio across key sectors. Specializing in EPC (Engineering, Procurement, and Construction) and turnkey projects, the company excels in hi-tech manufacturing, engineering products, and engineering services.
Walchandnagar Industries Ltd signed a Memorandum of Understanding (MOU) with IIT Ropar to advance targeted R&D and drive innovation and indigenization efforts in the defence and aerospace sectors. This collaboration is focused on fostering a culture of research and innovation in advanced military technologies. The joint initiative aims to support research, development, and indigenization in Armament Technology, aligning with the Government of India’s Atmanirbhar Bharat (Self-Reliant India) vision and the Make in India initiative.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
Today, the shares of Walchandnagar Industries Ltd opened at Rs 320.70 per share, compared to the previous day's closing figure of Rs 321.60 per share on the BSE. Currently, the shares are at Rs 315 per share on the BSE. Additionally, the shares have delivered an impressive return of around 90 per cent in the past year.
As per the Quarterly Results, in the first quarter of FY25, Walchandnagar Industries Ltd recorded a revenue of Rs 79.17 crore. The operating loss for Q1 FY25 stood at Rs 12.82 crore. The net loss for Q1 FY25 was Rs 1.76 crore. Looking at the annual performance, the company generated a revenue of Rs 302 crore in FY24, compared to Rs 322 crore in FY23. The operating profit for FY24 was Rs 1 crore, with a net loss of Rs 42 crore.
Regarding Walchandnagar Industries Ltd's shareholding pattern, the promoters own 31.55 per cent of the company, and the public or retail investors hold 67.84 per cent. FIIs and DIIs hold 0.31 per cent and 0.28 per cent, respectively. Ashish Kacholia owns a 3.17 per cent stake in the company.
Disclaimer: The article is for informational purposes only and not investment advice.