FIIs and DIIs Bought Shares of This Marine and Defence Stock; Hits Upper Circuit Today, Recently Bagged Order Worth Rs 20.4 Crore from L&T Shipbuilding!
The shares of the company have delivered a return of over 300 per cent to its shareholders in just 1 years only.
Marine Electricals (India) Ltd is engaged in the manufacturing and sale of all types of marine and industrial electrical and electronic components, such as switchgear and control gears. Recently last week, the company secured an order worth Rs 20.40 crore from L&T Shipbuilding for the supply of an Integrated Bridge System (IBS). The delivery is scheduled to be completed for 14-15 months.
The company manufactures and sells all types of marine and industrial electrical and electronic components, such as switchgear and control gears. Additionally, it operates in the renewable energy sector, specifically solar. The company also provides services like designing and fabricating various electrical and electronic installations both in India and abroad, along with undertaking annual maintenance contracts.
Share Performance:
Today, Marine Electricals (India) Ltd's share hit the upper circuit and currently, it is at around Rs 261.11 per share, with a market capitalization of Rs 3464.02 crore. The stock has delivered a multibagger return of over 300 per cent in just 1 year.
Financial performance:
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 237 crore and an operating profit of Rs 20 crore. The operating profit margin for the quarter stands at 9 per cent. The company’s net profit stood at Rs 12 crore. In FY24, the company reported a revenue of Rs 622 crore compared to Rs 443 crore, and a net profit of Rs 26 crore, compared to a profit of Rs 17 crore in the previous year. In the year 2021, the stock underwent a bonus-stock-split ">stock split in the ratio of 5:1.
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According to the shareholding patterns, promoters own 71.17 per cent, FIIs own 0.15 per cent, and public investors own 27.99 per cent. Moreover, DIIs makes a fresh entry by purchasing a 0.11 per cent stake in the June quarter, while FIIs have increased their stake from 0.02 per cent to 0.15 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.