Dynamatic Technologies gains on bagging manufacturing contract from Boeing

Dynamatic Technologies rose 1.52% to Rs 3070.05 after the company said that it has been awarded a contract for manufacturing assemblies for Boeing's newest tactical fighter, F-15EX Eagle II.

This is a first where aerostructures for the latest and most advanced F-15EX Eagle II will be made in India, the company said.

Dynamatic Technologies will supply the F-15EX aerostructure assembly requirements from FY 2022. The company will manufacture these aerostructures from their manufacturing facility in Bengaluru, Karnataka.

Udayant Malhoutra, CEO & managing director, Dynamatic Technologies, said, Dynamatic has been associated closely with Boeing as a strategic tier-1 supplier partner for over a decade. The award for manufacturing aerostructures for the F-15EX Eagle II to Dynamatic is a testimony of our partnership with Boeing.

Dynamatic Technologies designs and builds highly engineered products for automotive, aerospace, hydraulic and security applications.

The company reported a consolidated net profit of Rs Rs 2.52 crore in the quarter ended June 2021 as against net loss of Rs 16.94 crore during the previous quarter ended June 2020. Net sales during the quarter rose 72.82% YoY to Rs 320.41 crore.

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