400 per cent returns: This multibagger industrial product company bags new orders worth Rs 8.94 crore from Goa Shipyard Limited!

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 won an order worth Rs. 8.94 crores (excluding taxes) from Goa Shipyard Limited for the supply of an Integrated Machinery Control System (IMCS). The IMCS is a computer-based system that controls and monitors the operation of a ship's machinery. The system is expected to be delivered over a period of one year.

This order is a significant win for Marine Electricals (India) Limited, as it demonstrates the company's expertise in the design and manufacture of IMCS systems. The order also highlights the growing demand for IMCS systems in the Indian shipbuilding industry.

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Shares of Marine Electricals (India) Limited have also delivered multibagger returns to their shareholders in the three years. During this period, the company’s share price jumped from Rs 34.00 on November 14, 2020, to Rs 82.10 on November 10, 2023, an increase of more than 100 per cent in a three-year holding period. While in the last five years, the stock has gained about 400 per cent.

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 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.