KDDL zooms ~1.5% on adding new export orders

3 Mar 2022 , 03:55 PM

In its exchange filing on Thursday, KDDL Ltd. informed the investors that its precision engineering business division, Eigen Engineering, has received one export order and entered into a production agreement with a global vehicle company.

KDDL expects the supplies for these products to commence from the end of Q4FY22 or early Q1FY23.

It further informed that fulfillment of the order would be subject to satisfactory achievement of milestones and conditionalities. The company’s business value is estimated to be up to USD 4 million per year once conditionalities have been met and full supplies have commenced.

KDDL is among the top players in manufacturing of watch components, high-quality precision stamped components, and progressive tools for a vast range of engineering products. It also owns the largest luxury watches retail chain in India through its subsidiary, Ethos Limited.

KDDL ended on a higher note today at Rs819, up by 1.24% or Rs10.05 against its previous closing price of Rs808.95. It touched the day’s high and low of Rs850 and Rs811.