400 per cent returns: This multibagger industrial product company bags new orders worth Rs 23.34 crore!

Shares of this company jumped more than 70 per cent in the last six months.

Marine Electricals (India) Limited informed in the exchange filing that the company has secured new orders worth Rs. 23.34 crores (excluding GST). The company has received an order from Garden Reach Shipbuilders & Engineers Ltd, Kolkata for the supply of B&D spares for IBS of ASWSWC amounting to Rs. 21.08 crores (excluding GST), with a delivery timeline of two years. Additionally, Marine Electricals has received an order from Goa Shipyard Limited, Goa for the hot works installation of various electrical equipment for PCVs Yard 126 amounting to Rs. 2.26 crores (excluding GST), with a delivery timeline of two years.

The company has also secured an order worth Rs. 5.05 crores (excluding taxes) from Princeton Digital Group, Mumbai for the supply of LV panels. The delivery is expected to be completed within three months.

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Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. The company is engaged in manufacturing and sale of all types of marine and industrial electrical & electronic components like switch-gears, control-gears etc. The stock also delivered multibagger returns of over 100 per cent in the last three years. While in the last five years, the stock has gained about 400 per cent.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.