Indo National scores major order win from BAE Systems; Stock hits back-to-back upper circuit

Indo National Limited, a prominent dry cell manufacturer in India, has announced today that its subsidiary, Kineco Kaman Composites India Private Limited, has secured a substantial contract worth Rs 100 Crores (approximately USD 12.39 million) from BAE Systems.

According to the press release, the contract pertains to the manufacturing and export of fully assembled Mission Crew Workstations, also known as ‘Consoles,’ for the Boeing P-8 Poseidon Aircraft. The Boeing P-8 Poseidon is a renowned long-range multi-mission patrol and reconnaissance aircraft, widely recognized for its exceptional capabilities within its aircraft category. The Indian Navy currently operates a fleet of 12 P-8 Poseidon aircraft.

Kineco Kaman’s involvement in this program dates back to 2013, during which it successfully supplied more than 700 Consoles to BAE Systems.

Interestingly, Kineco Kaman has consistently received recognition from BAE Systems, including multiple Gold Supplier awards, acknowledging its outstanding performance in terms of on-time delivery and product quality. In 2020, the company achieved the prestigious title of “Partner2Win Supplier of the Year” from BAE Systems, highlighting its exceptional contributions and excellence in service.

Kineco Kaman operates an advanced composites manufacturing facility in Goa, India, catering to aerospace and defence clients worldwide. Their facility holds a prestigious ZED gold rating, while also meeting customer-specific requirements. They export to global aerospace OEMs in the US, Europe, and Israel.

Additionally, Kineco Kaman is a significant supplier of composite parts and assemblies to Hindustan Aeronautics Limited (HAL) and contributes to the Indian Space Research Organization’s (ISRO) satellite and launch vehicle programs.

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Share Performance: 

Today, the company’s shares began trading at Rs 534.70 per share, marking a 1.99% increase compared to the previous day’s closing price of Rs 524.25 per share and finally closed the session at the same price of Rs 534.70 per share on the BSE, representing a gain of 1.99%.

The market capitalization of the company is Rs 401 crore. Additionally, the stock has delivered a return of 65% in the last six months and 409% in the last decade.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.