Precision Electronics Limited (PEL) has announced a significant development in its business operations, securing a new order worth approximately Rs 60.00 lakh from a domestic customer in the Aerospace Defense segment. This order marks a positive step for the company in strengthening its position in the defense sector.

Order Details

Key Points

• Confidentiality: Due to confidentiality clauses and commercial sensitivity, the customer's name has not been disclosed.
• Specifications: The company will supply the Mast with accessories according to the customer's specific requirements.
• Execution Timeline: Delivery is scheduled to be completed within the current financial year.
• Regulatory Compliance: The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Business Implications

This order is significant for Precision Electronics Limited as it demonstrates the company's capability to secure contracts in the strategic Aerospace Defense sector. The domestic nature of the order aligns with the government's push for 'Make in India' in defense manufacturing.

Corporate Governance

PEL has confirmed that this contract does not involve any promoter group interest or related party transactions, ensuring transparency in its business dealings. The company's prompt disclosure of this information to the stock exchange underscores its commitment to regulatory compliance and shareholder communication.

As the Aerospace Defense sector continues to grow in India, such orders could potentially pave the way for more significant opportunities for companies like Precision Electronics Limited in the future. However, it's important to note that this is a single order, and its long-term impact on the company's financials would depend on the company's ability to secure more such contracts consistently.

Precision Electronics Limited , a player in the telecom and infra services sector, has announced its financial results for the quarter and year ended March 31, 2024, showcasing significant improvement in its performance.

Annual Performance Highlights

The company reported a substantial increase in total income for the fiscal year 2024, reaching Rs 4,764.00 lakh, up from Rs 3,617.00 lakh in the previous year. This represents a year-over-year growth of approximately 31.71%. More impressively, Precision Electronics saw a dramatic surge in net profit, which stood at Rs 146.00 lakh for FY 2024, compared to just Rs 1.00 lakh in the prior year.

Q4 FY 2024 Results

For the quarter ended March 31, 2024, Precision Electronics Limited posted strong results:

• Total income: Rs 1,390.00 lakh
• Net profit: Rs 156.00 lakh

Segment-wise Performance

The company operates in two primary segments:

1. Telecom
2. Infra services

The telecom segment emerged as the major revenue generator, contributing Rs 4,483.00 lakh to the company's annual revenue.

Financial Position

Precision Electronics' balance sheet showed improvement, with total assets increasing to Rs 4,523.00 lakh as of March 31, 2024, up from Rs 3,868.00 lakh in the previous year, indicating a growth of about 16.93%.

Audit Opinion

It's worth noting that the auditors have issued an unmodified opinion on the financial statements, which suggests that the financial reports are free from material misstatements and are in accordance with the applicable financial reporting framework.

Conclusion

The financial results for Precision Electronics Limited reflect a year of significant growth and improved profitability. The substantial increase in net profit, from Rs 1.00 lakh to Rs 146.00 lakh, highlights the company's enhanced operational efficiency and market performance. The growth in total income and assets further underscores the company's expanding business operations, particularly in its telecom segment.

Note: All figures are in Rs lakh

These results suggest that Precision Electronics Limited has navigated the fiscal year 2024 with strategic focus, resulting in improved financial health and market position.