Huge Order: Microcap multibagger Company gets Rs 18 crore order!

Due diligence exercise to ascertain the company's current business operations and identify the noteworthy recent developments.

Nitiraj Engineers Ltd recently made a significant announcement, in adherence to SEBI (LODR) Regulation 30, regarding a substantial order from Integra Micro Systems Pvt Ltd in Bangalore. This order entails a remarkable 30,450 units of weighing scales, representing a substantial financial value of Rs 18.17 crore. These achievements underscore Nitiraj Engineers' strength and resilience in the competitive market.

This accomplishment builds on a previous milestone, where Nitiraj Engineers successfully clinched a significant order from Alex Industries, Indore, comprising a diverse range of 70,528 units, including Infant meters, Stadiometers, Spring Type Mechanical Weighing Scales, and Digital Weighing Scales for both mother and child, with a total value of Rs 6.94 crore. These achievements exemplify the company's dedication to providing comprehensive solutions and expanding its product portfolio.

A Peek into Nitiraj Engineers' Business Landscape

Founded in 1989, Nitiraj Engineers Ltd has earned recognition for its extensive product range, manufacturing and distributing Electronic Weighing Scales, Currency Counting Machines, and Taxi Fare Meters under the well-regarded 'Phoenix' brand. Beyond its product line, the company plays a pivotal role in supplying advanced machines to state governments as part of the Child Growth Monitoring Systems (CGMS) program. These machines incorporate cutting-edge technology, enabling data collection, plotting, Management Information System (MIS), and efficient information dissemination.

With a market capitalization of 126.29 crore and turning out to be a multibagger by delivering a substantial 158 per cent return on investment over a two-year period, Nitiraj Engineers has firmly established itself as a valuable investment destination.

Paving the Way Forward: Recent Innovations

Nitiraj Engineers Limited is on the cusp of a transformative venture with the imminent launch of four cutting-edge drone models scheduled for June 30, 2024. These drones will initially debut in the domestic market before expanding internationally. Tailored for precision farming, GIS mapping, aerial surveys, short-range cargo transportation, and military applications, these drones reflect the company's commitment to pushing the boundaries of Unmanned Aerial Vehicle (UAV) technology. The company's Drone Design and Production Unit is staffed by experts dedicated to advancing UAV technology and catering to the specific needs of diverse industries.

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