Dynamatic Technologies jumped 8.04% to Rs 2,014.65 after the company said that 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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