During Friday’s trading session, the shares of a company engaged in the manufacturing of cotton yarn and technical textile products surged 12 percent at Rs. 249 on BSE, after the company secured an order worth nearly Rs. 36.2 crores from Ministry of Defence.
At 12:38 p.m., the shares of Shiva Texyarn Limited were trading in the green at Rs. 240, up by nearly 8 percent, as against its previous closing price of Rs. 222.25, with a market cap of Rs. 311.2 crores.
What’s the News
As per the latest regulatory filings with the BSE, Shiva Texyarn has announced securing an order valued at ~Rs. 36.2 crores from the Indian Airforce, Department of Military Affairs, Ministry of Defence, Government of India.
The order involves the supply of 16,000 pairs of SUIT PERMEABLE MK V, scheduled for delivery between 3rd January 2025 and 31st August 2025.
Previous Order
24th October 2024: Shiva Texyarn secured an order worth around Rs. 41.24 crores from the Indian Army, Ministry of Defence, Department of Military Affairs.
According to the regualtory filings, this order involved the supply of 26,574 sets of the Extreme Cold Weather Clothing System (suits). The delivery for this order is planned between 23rd October 2024 and 16th January 2026.
Additionally, the purchaser reserves the right to increase or decrease the quantity to be ordered up to 25 percent of the bid quantity at the time of contract placement.
Financials
Shiva Texyarn experienced a marginal decline in its revenue from operations, showing a year-on-year rise of 3.5 percent from Rs. 98.7 crores in Q2 FY24 to Rs. 95.2 crores in Q2 FY25.
In contrast, its net profit increased during the same period from a loss of Rs. 2.6 crores to a profit of Rs. 2.77 crores.
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Stock Performance
The stock has delivered positive returns of nearly 64.2 percent in one year, as well as around 31.3 percent returns in the last six months. Likewise, the shares of Shiva Texyarn have given positive returns of about 6.4 percent in the last one month.
About the company
Shiva Texyarn Limited is engaged in the business of manufacturing of cotton, yarn and technical textile products like coated and laminated fabrics, home textile and other value added products.
The company was incorporated in the year 1980 and has its registered office and factory in Coimbatore.
Written by Shivani Singh
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