Multibagger penny stock below Rs 100: This micro-cap company bags new order worth Rs 5,05,00,000 crore from Princeton Digital Group!

The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 27.30 per share.

Marine Electricals (India) Limited informed that the company has bagged a new order amounting to Rs 5,05,00,000 crore (excluding taxes) from Princeton Digital Group, Mumbai. The order includes the supply of LV panels. The delivery period shall be over a period of 3 months.

Earlier, the company received an order amounting to Rs 8,94,00,000 crore (excluding taxes) from Goa Shipyard Limited, Kochi Vasco–Da-Gama Goa for the supply of an integrated machinery control system (IMCS). The delivery period shall be over a period of 1 year.

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 company has a market cap of over Rs 1,000 crore. According to the Quarterly Results, the net sales increased by 52 per cent to Rs 121.4 crore and net profit increased by 51 per cent to Rs 5 crore in Q2FY24 compared to Q2FY23. In FY23, the net sales increased by 17.82 per cent to Rs 443 crore and net profit increased by 30.77 per cent to Rs 70 crore compared to FY22.

On Friday, shares of Marine Electricals (India) Limited plunged 1.79 per cent upper circuit to Rs 82.15 per share with an intraday high of Rs 84.5 and an intraday low of Rs 81. The stock’s 52-week high is Rs 88.05 and its 52-week low is Rs 28.

The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 27.30 per share. Investors should keep an eye on this micro-cap stock.

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