Centum Electronics jumps 9% post Chandrayaan-3 mission success; up 270% in 1 year

Shares of Centum Electronics jumped nearly 9 percent in the morning session on August 24, post the successful landing of Chandrayaan-3 on the moon.

Centum was a key industrial partner to ISRO for electronics on the prestigious moon mission and supplied critical modules and systems.

At 12:30 pm, the Centum Electronics stock was trading 8.70 percent higher at Rs 1,786 on NSE.

Centum Electronics Q1FY24 highlights

Centum Electronics released its Q1 results on August 11, the consolidated revenue of the company increased by 17 percent YoY mainly due to an increase in the electronics manufacturing services (EMS) business.

Revenue decreased QoQ due to higher revenue of build to spec (BTS) in the previous quarter, which is lumpy in nature. EBITDA margins increased from 5 percent in Q1-FY23 to 7 percent in Q1-FY24 due to improved revenues in the EMS business.

Focused efforts are being taken to improve the EBITDA of the French subsidiary in the coming quarters to improve the consolidated EBITDA from the current levels according to a filing with BSE by the company.

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The key objective of the Chandrayaan mission

Chandrayaan-3, India’s follow-up to the Chandrayaan-2 lunar mission, has been designed to study the composition and geology of the earth’s nearest celestial neighbour and help determine if humans can live on the moon.

Shareholding Pattern of Centum Electronics

Promoters hold the majority of stake in the company with 58.8 percent. The public holds 33.43 percent stake followed by DIIs and FIIs, who hold the remaining 7.66 percent and 0.11 percent stake in the company, respectively.

Stock Performance

Centum Electron shares gave 189.03 percent returns over the last six months and 273.51 percent returns over the last 12 months. The benchmark Nifty50 index has given a return of 11.33 percent over the past six months in comparison.

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