Multibagger stock below Rs 100: This small-cap company bags new order worth Rs 6.9 crore, total order book for Q3 now stands Rs 118 crore!

This small-cap stock has delivered exceptional multibagger returns of 168 per cent year-to-date

In a recent exchange filing, Marine Electricals (India) Limited disclosed a new order worth Rs 6.90 crores (excluding GST) from 3B Advanced Composites Private Limited, Goa. The order pertains to the supply of low-tension (LT) panels, set to be delivered within 4.2 months, contributing to the company's continual growth in the electrical industry. This project reinforces Marine Electricals' standing as a premier provider of electrical solutions in India.

Entering the upcoming quarter, Marine Electricals anticipates significant growth, driven by a substantial influx of orders amounting to Rs 118.6 crores for Q3FY2024. These orders have been secured from prominent entities such as Larsen & Toubro Limited, L&T Shipbuilding, Garden Reach Shipbuilders & Engineers Ltd, Goa Shipyard Ltd, Crescon Projects & Services Pvt Ltd, Princeton Digital Group. With this robust order book, the company is well-positioned for revenue expansion, presenting a positive outlook for the forthcoming quarter and indicating promising growth prospects.

Marine Electricals (India) Limited operates as an integrated technical services provider specializing in electrical automation, information, and communication technology solutions. The company manufactures and sells various marine and industrial electrical and electronic components, including switch-gears and control-gears.

With a market capitalization exceeding Rs 1,160 crores, 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.

This Small-Cap stock has delivered exceptional multibagger returns of 168 per cent year-to-date, making it a noteworthy choice for investors to monitor closely.

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