Infosys holds 16,47,314 shares of this small-cap defence stock; 7 new patents have been granted, check the order book!
It holds a pioneering position and serves as the pre-eminent market leader in Indian Unmanned Aircraft Systems, with UAVs equipped with industry-leading specifications and capabilities.
The NSE benchmark Nifty 50 index on Tuesday is edging closer to reclaiming its 22,200 mark, buoyed by support from heavyweights such as TCS, Reliance, LT, and ICICI Bank. Market breadth slightly favors advances, with 1,126 stocks trading in the green, while 1,114 stocks are seen trading in the red.
One notable stock that has surged by a little over 20 percent from its 52-week low is ideaForge Technology Ltd. On Monday, the stock witnessed a substantial jump in price and volume, closing higher by 6.66 per cent on NSE, with a total traded volume of 47.49 lakh shares, marking its highest-ever single-day volume since listing.
ideaForge is a vertically integrated company with an in-house product development center, enabling it to design, develop, engineer, and manufacture indigenous unmanned aerial vehicles (UAVs). It holds a pioneering position and serves as the pre-eminent market leader in Indian Unmanned Aircraft Systems, with UAVs equipped with industry-leading specifications and capabilities. ideaForge boasts the largest operational deployment of indigenous UAVs across India and, in December 2023, was ranked as the 5th global dual-category (civil & defence) drone manufacturer by Drone Industry Insights, the world’s leading drone survey and analysis company. The company has also been granted 7 new patents in Q3FY24.
As of December 31, 2023, the company's order book stands at Rs 175.8 crore. Consolidated revenue from operations for the quarter ended December 31, 2023, stood at Rs 90.9 crore, with a gross profit of Rs 48.9 crore, representing 53.7 per cent of revenue. EBITDA for the quarter was Rs 26 crore, at 28.8 per cent. PAT stood at Rs 14.8 crore, with a PAT margin of 16.3 per cent. For the nine-month period in FY24, revenue from operations totaled Rs 211.7 crore, compared to Rs 147.3 crore in the same period in FY23. Gross profit stood at Rs 112.8 crore, representing 53.3 per cent of revenue, while EBITDA for the nine-month period in FY24 was Rs 65.3 crore, with an EBITDA margin of 30.8 per cent, compared to Rs 52.1 crore in FY23. PAT stood at Rs 34.6 crore, with a margin of 16.3 per cent.
Now, here's an intriguing insight about this Small-Cap defence stock: Infosys Ltd, the IT behemoth, holds 1,647,314 shares of the company.
Disclaimer: The article is for informational purposes only and not investment advice.
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