KDDL gains after subsidiary wins export order from global vehicle firm

KDDL rose 1.34% to Rs 817.95 after the company's precision engineering business division, Eigen Engineering, received an export order and entered into production agreement with a global vehicle company.

KDDL expects the supplies for these products to commence from the end Q4 FY22 or early Q1 FY23. It is further informed that fulfilment of the order would be subject to satisfactory achievement of milestones and conditionalities. The value of the business is estimated to be up to $4 million per year once conditionalities have been met and full supplies have commenced.

The net profit of KDDL rose 75.93% to Rs 13.67 crore in the quarter ended December 2021 as against Rs 7.77 crore during the previous quarter ended December 2020. The sales rose 44.80% to Rs 258.07 crore in the quarter ended December 2021 as against Rs 178.23 crore during the previous quarter ended December 2020.

KDDL is an engineering company engaged in the manufacture of watch components, precision stamped components and progressive tools for various applications.

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