Rs 540 crore order book and 280 per cent returns: This multibagger defence & marine stock bags new order worth Rs 2.99 crore!
Shares of the company have gained about 140 per cent in the last six months.
Marine Electricals (India) Limited has secured a significant order valued at Rs. 2.99 crore from Concept Engineering Projects Private Limited for the supply of Low Tension (LT) panels. This order mandates the delivery of the panels within a three-month timeframe. The successful acquisition of this contract solidifies Marine Electricals' position as a key player in the electrical equipment market and reinforces its commitment to meeting the evolving demands of its customers.
Recently, Marine Electricals (India) Limited secured multiple orders totalling over Rs. 19 crore. The largest order, valued at Rs. 11.16 crore, comes from Princeton Digital Group for the supply and installation of LV Panels, with a delivery timeframe of 3-4 months. Additionally, Udupi Cochin Shipyard Limited placed an order for Navigation & Communication System Panels, to be delivered within 12 months, for approximately Rs. 8.02 Crore (excluding taxes).
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This order was complemented by another from Schneider Electric India Private Limited for the supply and installation of LT Panels, with a delivery period of 3 months. These new projects highlight Marine Electricals' diverse clientele and capabilities within the electrical equipment manufacturing sector. The company has an order book of Rs 540 crore as of December, 2023.
Marine Electricals (India) Limited primarily provides customised electrical solutions to the marine and non-marine sectors. The company offers integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. The company serves the market in diversified areas like Ship Building, Navy, Industries, Commercial Establishments. The shares of Marine Electricals (India) Limited have also delivered multibagger returns of over 280 per cent in the last one year.
The stock has shown tremendous growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.