Dynamatic Tech gains on signing long-term contract with Spirit AeroSystems

Dynamatic Technologies rose 3.97% to Rs 2750 after the company's subsidiary signed long-term contract with Spirit AeroSystems for detail part manufacturing for Spirit's Belfast facility in Northern Ireland.

Dynamatic Technologies has a 15-year-long association with one of the world's leading aerostructure companies, Spirit AeroSystems, and has been producing a large volume of flight-critical assemblies and detail parts for them.

The contract involves multiple parts for commercial and business jet programs at Spirit, Belfast.

Dynamatic Manufacturing, which is a centre of excellence for detail parts, will be involved in engineering, manufacturing, and delivering components for different aircraft parts.

Dynamatic Technologies, a $168 million company, designs and builds highly engineered products for Aerospace, Hydraulic, Metallurgy and Security applications at its state-of-the-art design, engineering and manufacturing facilities in Europe and India.

The company reported consolidated net profit of Rs 10.04 crore in Q2 FY23 as against net loss of Rs 10.09 crore in Q2 FY22. Net sales jumped 6.4% to Rs 323.72 crore in Q2 FY23 as compared to Rs 304.35 crore in Q2 FY22.

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