Dynamatic Technologies jumped 8.04% to Rs 2,014.65 after the company said it has won the contract to manufacture the escape hatch door for Airbus A220 aircraft.
The contract was placed by the recently established Stelia Aeronautique Canada, a subsidiary of Airbus Atlantic SAS. This contract marks a milestone of workshare of the A220 supply chain in India and extends Dynamatic’s capabilities for manufacturing critical aerostructure to Airbus, Dynamatic Technologies said in a statement.
Udayant Malhoutra, CEO & managing director of Dynamatic Technologies said, “We are delighted to have been awarded this contract. Dynamatic has been working with Airbus since 2006 on flight critical wing sub-assemblies and are now moving onto the fuselage. The escape hatch door is a complex assembly, and this is the first aerostructure of the new Airbus A220 family to be built in India. Dynamatic will become a pathfinder for establishing a fully-qualified ecosystem for the A220 family in India. ”
Dynamatic Technologies designs and builds highly engineered products for automotive, aerospace, hydraulic and security applications.
The company reported a consolidated net profit of Rs 15.02 crore in Q4 FY22 as against net loss of Rs 7.76 crore during the Q4 FY21. Net sales declined 9.2% year on year to Rs 320.91 crore in the quarter ended 31 March 2022.
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