Sunil Singhania, Madhu Kela bump up stake in this smallcap engineering company; stock gains

As of December end, Singhania already held 2.62 percent stake in Dynamatic Technologies via Abakkus Emerging Opportunities Fund-1

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Dynamatic Technologies’ shares gained on March 21, a day after veteran investors Sunil Singhania and Madhusudan Kela invested in the precision engineering company. At 10:45 am, the stock was quoting at Rs 2678.05 on the NSE, higher by 2.7 percent.

On March 20, the company raised Rs 112.9 crore after preferential share allotment of 4.5 lakh shares to three investors at a price of Rs 2,509.

AL Mehwar Commercial Investments LLC – (NOOSA) invested Rs 62.72 crore for 2.5 lakh shares, Cohesion MK Best Ideas Sub-Trust put Rs 37.63 crore for 1.5 lakh shares and Abakkus Diversified Alpha Fund invested Rs 12.54 crore for 50,000 shares.

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Cohesion MK Best Ideas Sub-Trust is a joint venture between Cohesion Investments and Madhusudan Kela. Meanwhile, the Abakkus Diversified Alpha Fund is managed by Singhania.

As of December end, Singhania already held 2.62 percent stake in the company via Abakkus Emerging Opportunities Fund-1. Both Singhania and Madhu Kela had first invested in the stock in 2021.

What does the company do?

Dynamatic Technologies is a supplier of parts to aerospace, automotive, hydraulic and security assemblers. Its facilities are located in India, United Kingdom (Swindon, Bristol) and Germany (Schwarzenberg).

As per the last annual report, 37 percent of the company’s revenue comes from metallurgy, 34 percent comes from hydraulics and 29 percent comes from aerospace and defence.

The company’s chief executive officer is Udayant Malhoutra who is a member of the CII National Council and was once the chairman of National Sector Skills Council for Strategic Manufacturing.

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However, the company’s financial performance over the last few years has been inconsistent. Quarterly sales have been hovering around Rs 310 crore to Rs 323 crore over the past two years. During the same time period, net profit has ranged anywhere between Rs 1 crore and Rs 15 crore with two quarters of losses.

Recent developments

Ferra Aerospace India has partnered Dynamatic Technologies to scale up capabilities in strategic aerospace manufacturing. The companies are expected to enhance product integration, testing, technology development of airframe structures and precision aerospace components, according to a Deccan Herald report.

Ferra India’s clients include Godrej Aerospace, with whom it is a supplier for the A330 Flap Track Beam Project, and the Godrej Long Range Land Attack Cruise Missile project, the report added.

Meanwhile, the stock has gained over 55 percent from its 52-week low level of Rs 1,678. In 2015, the stock had hit all time high level of Rs 37,00 and it has not seen those levels ever since. Its RoE stands at only 4 percent while TTM price-to-earnings ratio ?is 42x.