Centum Electronics Share Price Rises 4% On Bagging Work Order From DRDO

2 min read Last Updated : Sep 02 2024 | 11:35 AM IST

Centum Electronics stock gains: Shares of Centum Electronics gained up to 4.32 per cent to hit an intraday high of Rs 1778 per share on Monday, September 2, 2024.

However, at 11:06 AM, shares were off highs and were trading 1,.57 per cent higher at Rs 1731.05 per share. In comparison, BSE Sensex was trading 0.33 per cent higher at 82,639.34 levels.

The uptick in share price came after the company announced that it has received an order from Defense Research and Development Organisation (DRDO).

Centum Electronics, via an exchange filing said, “We are pleased to inform you that the company has received an order from Defense Research and Development Organisation (DRDO) for Intersatellite Link & other Payload Subsystems.”

Under the terms of the project, Centum Electronics will be providing Intersatellite Link & other Payload Subsystems to DRDO.

The project is worth Rs 109.58 crore and is expected to be completed in 16 months, the company said in a statement.

Financial performance

The company’s consolidated net profit plunged 364 per cent year-on-year (Y-o-Y) to Rs 3.84 crore in the June quarter of financial year 2025 (Q1FY25), as opposed to Rs 1.45 crore in the June quarter of financial year 2024 (Q1FY24). Net sales, however, rose marginally to Rs 238.81 crore in Q1FY25.

Centum Electronics Limited is an Indian company specialising in the design, development, and manufacturing of electronic systems and subsystems. Established in 1993 and headquartered in Bangalore, Karnataka, Centum creates microelectronics, subsystems, and tailored products for various sectors, including defence, space, aerospace, industrial, transportation, and medical. The company also provides system integration and engineering R&D services, covering electronic hardware design, embedded software development, and more.

Publicly traded since 1994, Centum’s shares are listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The company operates state-of-the-art facilities featuring Class-10K clean rooms and Class-100 LFTs. With a global presence in six countries, Centum is well-positioned in the electronics industry.