Multibagger Marine and Defence Company Secures Order Worth Rs 8.58 Crore for the Supply of LT and MV Panels: Recently Bagged Order from the Ministry of Defence, Sri Lanka!
The company's shares have delivered a return of around 630 per cent to its shareholders in just two years.
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. The company has announced that it has received a work order today.
As per the press release, the company has secured an order worth Rs. 8.58 crore (excluding taxes) from Princeton Digital Group for the supply of LT and MV panels for the MU1 DC1 Airoli project in Navi Mumbai. The delivery is expected to take place over a period of 6 to 8 months.
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On September 26, the company secured an order valued at €1,559,175.68 (approximately Rs. 14.54 crore). To read the article, please click here.
On Monday, the shares of Marine Electricals (India) Ltd closed at around Rs 219.90 per share, with a market capitalization of Rs 2917 crore. The stock has delivered a multibagger return of over 270 per cent in just 1 year.
According to the Quarterly Results, in Q1 FY25, the company reported a revenue of Rs 138.46 crore and an operating profit of Rs 13.34 crore. The operating profit margin for the quarter stands at 9.63 per cent. The company’s net profit stood at Rs 7.05 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.
According to the shareholding patterns, promoters own 68.45 per cent, FIIs own 0.29 per cent which was earlier 0.15 per cent, DIIs reduced Stakes to 0.07 per cent from 0.11 percent while public investors own 31.19 per cent stake in the company.
Marine Electricals is a Small-Cap company engaged in the manufacturing and sale of 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.
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Investors must keep this stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.