Under Rs 250 & 11,300 Per cent Multibagger Returns: This Marine and Defence Stock Hits Back-to-Back Upper Circuit After Securing Order Worth Rs 50,00,00,000!
The shares of the company have delivered a return of over 250 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. The company’s shares have been hitting back-to-back upper circuits for 5 days.
Recently on July 8 the company secured orders amounting to Rs 50 crore (Approx. - Excluding Taxes) from DC Development Hyderabad Ltd for the supply of FIM LV Panels and Skid for the HYD20 expansion (DC 2 & 3), totalling 28.8 MW. The delivery shall occur over a period of 20 months.
The company is 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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Share Performance:
Today, the shares of Marine Electricals (India) Ltd are at around Rs 217.42 per share, with a market capitalization of Rs 2884.41 crore. The stock has delivered a multibagger return of around 266 per cent in just 1 year. Moreover, the company’s stock hit the upper circuit today.
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 stock split in the ratio of 5:1.
According to the shareholding patterns, promoters own 71.98 per cent, FIIs own 0.02 per cent, and public investors own 27.99 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.