Multibagger small-cap stock below Rs 100 bags order worth Rs 31.85 crores from Ministry of Defence; total order book of Q3 jumps to Rs 150 crore!
Order received from, The Ministry of Defence for Procurement of 6 Integrated Bridge System (IBS) for TEG and Shivalik Classes of Ships. The delivery shall be over a period of 36 months.
Marine Electricals (India) Limited has received an order amounting to a total Rs 31.85 crores (excluding GST), including 5 years Annual Maintenance Charge amounting to 6 Crores.
Order received from, The Ministry of Defence for Procurement of 6 Integrated Bridge Systems (IBS) for TEG and Shivalik Classes of Ships. The delivery shall be over a period of 36 months.
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Recently, the company had received several orders totaling Rs 27.97 crore: Over 10 months, Hooghly Cochin Shipyard procured the Electrical Package for the IWAI Hybrid Vessel; over 6 months, Garden Reach Shipbuilders & Engineers procured B&D Spares for the IBS Project SVL to CPRO, Visakhapatnam, and Kerala; and over 5 months, Deepak Chem Tech procured LT Panels.
Marine Electricals predicts significant growth in the upcoming quarter, led by a significant influx of orders totalling approximately of Rs 150 crores for Q3FY2024. These orders have come from well-known companies including Larsen & Toubro Limited, L&T Shipbuilding, Garden Reach Shipbuilders & Engineers Ltd, Goa Shipyard Ltd, Crescon Projects & Services Pvt Ltd, and Princeton Digital Group. With this substantial order book, the company is well-positioned for revenue growth, indicating a positive view for the coming quarter and attractive future possibilities.
Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. It is into marine, industrial, and renewable energy solutions.
In the month of December itself, the company has received multiple orders. The stock has delivered multibagger returns of nearly 210 per cent in the last one year.
This is a Small-Cap multibagger company with market capitalization of Rs 1,254 crore, currently trading below Rs 100. The company reported impressive Quarterly Results (Q2FY2024). Net sales witnessed a remarkable 52 per cent increase, reaching Rs 121.4 crores, while net profit surged by 51 per cent, touching Rs 5 crores in Q2FY24 compared to Q2FY23.
Disclaimer: The article is for informational purposes only and not investment advice.