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Avantel Secures ₹43.25 Crore Order from NewSpace India for Xponder Devices

Written by: Team Angel OneUpdated on: Feb 20, 2025, 2:26 PM IST
Avantel Limited has received a ₹43.25 crore order from NewSpace India Limited for the supply, installation, and commissioning of Xponder devices, with execution by August 2025.
Avantel Secures ₹43.25 Crore Order from NewSpace India for Xponder Devices
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Avantel Limited, a technology-driven company, has announced that it has secured a significant purchase order worth ₹43.25 crore (including taxes) from NewSpace India Limited. The company disclosed this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The share price of Avantel on February 20, 2025, opened at ₹114.89, higher by 7.40%. 

Details of the Order

The purchase order involves the supply, installation, and commissioning of Xponder devices, signifying Avantel’s continued role in advanced communication and satellite-related solutions. The contract has been awarded by NewSpace India Limited, a key entity in India’s space sector, and falls under the manufacturing category. This is a domestic contract, and the execution timeline has been set for August 2025. The deal underscores Avantel’s growing presence in high-tech manufacturing, further strengthening its footprint in the industry.

Strategic Importance of the Deal

This contract strengthens Avantel’s position in the domestic technology sector, highlighting its role in providing advanced communication and satellite solutions. The collaboration with NewSpace India Limited—a key player in India’s space sector—further underscores Avantel’s capabilities in high-tech manufacturing.

Q3FY25 Financial Performance 

The company reported a 23.04% rise in consolidated net profit, reaching ₹20.08 crore in Q3FY25, up from ₹16.32 crore in the corresponding quarter of the previous year.

Revenue from operations for the quarter stood at ₹70.68 crore, reflecting a 19.14% year-on-year (Y-o-Y) increase compared to ₹59.33 crore in December 2023.

Avantel has clarified that there is no involvement of promoters, promoter groups, or related parties in this transaction, ensuring transparency in its dealings

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Feb 20, 2025, 2:26 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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