Multibagger stock at Rs 109: This micro-cap company bags new orders worth Rs 104.25 crore from TATA Projects Ltd and Fleet Maintenance Unit

The stock gave multibagger returns of over 230 per cent from its 52-week low of Rs 32.50 per share.

Marine Electricals (India) Limited informed that the company has received an order amounting to Rs 104.25 crore (excluding taxes). The details of the same are mentioned asunder:

1. Order received from TATA Projects Limited for LT panel (sub-panel, PCC Panel and hook-up panel) for micron technology (project pioneer), Sanand. The delivery shall be over a period of 6 months.
2. Order received from Fleet Maintenance Unit (FMU), Visakhapatnam for AIAMC. The delivery shall be over a period of 24 months.

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 the manufacturing and sale of all types of marine and industrial electrical & electronic components like switchgear, control gears, etc. 

The company has a market cap of over Rs 1,200 crore. According to the Quarterly Results, the net sales increased by 7 per cent to Rs 146.65 crore and net profit increased by 12 per cent to Rs 5.32 crore in Q3FY24 compared to Q2FY24. 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.

Today, shares of Marine Electricals (India) Limited were locked in 5 per cent to Rs 109.20 per share from its previous closing of Rs 104. The stock’s 52-week high is Rs 122.90 and its 52-week low is Rs 32.50. The stock gave multibagger returns of over 230 per cent from its 52-week low of Rs 32.50 per share. Investors should keep an eye on this micro-cap stock.

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

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