Multibagger Marine and Defence Company Bags Export Order Valued at USD 10,07,009 from Société Minière de DASA SA
The company's shares have delivered a multibagger return of around 225 per cent to its shareholders in just 1 year.
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. Today the company has bagged a significant work order.
As per the press release, the company has secured an export order valued at USD 10,07,009 (approximately Rs 8.56 crores) from Société Minière de DASA SA (SOMIDA), based in Niger, West Africa, for the supply of HT panels. The delivery is scheduled to be completed over the next nine months. The promoter or promoter group has no interest in this order, and it does not qualify as a related party transaction.
Today, the shares of Marine Electricals (India) Ltd closed at around Rs 290 per share, with a market capitalization of Rs 4,000 crore. The stock has delivered a multibagger return of around 225 per cent in just 1 year.
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According to the Quarterly Results, in Q2 FY25, the company reported a revenue of Rs 184 crore and an operating profit of Rs 21 crore. The operating profit margin for the quarter stands at 12 per cent. The company’s net profit stood at Rs 13 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 71.17 per cent, FIIs own 0.25 per cent which was earlier 0.15 per cent, DIIs reduced Stakes to 0.08 per cent from 0.11 percent while public investors own 28.50 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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Disclaimer: The article is for informational purposes only and not investment advice.