Krishna Defence Shares Jump Over 3% After Securing ₹45.64 Crore Defence Order from Ministry of Defence

Krishna Defence and Allied Industries shares gained more than 3% in intraday trade after the company announced that it had received a ₹45.64 crore order from the Ministry of Defence for the supply of specialised steel sections for naval vessels.

The stock climbed to an intraday high of ₹1,309.70, nearing its 52-week high of ₹1,313. The share traded within a day range of ₹1,258 to ₹1,309.70. The company currently has a market capitalisation of around ₹1,906 crore and trades at a price-to-earnings (P/E) ratio of 45.53.

Krishna Defence Receives ₹45.64 Crore Defence Order

According to the company's filing, the contract involves the supply of specialised steel sections used in naval vessels. The order has been awarded by the Ministry of Defence and further strengthens Krishna Defence's position as a key supplier of strategic metallurgical products for India's defence and shipbuilding sectors.

The project is expected to be executed over a period of 12 to 18 months. The order size is significant when compared to the company's historical quarterly revenue, indicating potential growth in its order book and future revenue visibility.

The latest order is expected to enhance Krishna Defence's work-in-progress pipeline and support its long-term growth strategy in the defence manufacturing segment. The company's involvement in supplying critical materials for naval platforms aligns with the Indian government's focus on defence indigenisation and strengthening domestic defence production capabilities.

Market participants viewed the order announcement positively, leading to buying interest in the stock during the trading session.