Multibagger Marine and Defence Company Bags Order Worth Rs 3,66,00,000 from L&T Shipbuilding, Stock Gains Over 290 per cent in Just 1 Year!
The shares of the company have delivered a return of over 290 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.
Marine Electricals (India) Limited has secured an order worth Rs 3.66 crore from L&T Shipbuilding for the supply of Addressable Fire Detection Systems and Upper Air Sounding Systems for the Cadet Training Ship (CTS) project. This order involves the delivery of three shipsets for the Indian Navy for 7 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:
On Friday, the shares of Marine Electricals (India) Ltd were closed at around Rs 260.80 per share, with a market capitalization of Rs 3459.91 crore. The stock has delivered a multibagger return of over 295 per cent in just 1 year.
Financial performance:
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 stock split in the ratio of 5:1.
According to the shareholding patterns, promoters own 71.17 per cent, FIIs own 0.15 per cent, DIIs Bought Stakes 0.11 per cent and public investors own 28.56 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.