Rs 540 crore order book and FIIs & DIIs increase stake: Multibagger marine electrical equipments stock hit upper circuit on August 07; Here’s Why!

The stock gave multibagger returns of 386.5 per cent from its 52-week low of Rs 55.10 per share.

Today, shares of Marine Electricals (India) Limited jumped 5 per cent upper circuit to Rs 268.05 per share from its previous closing of Rs 255.30. The stock’s 52-week high is Rs 287 and its 52-week low is Rs 242.55.

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. 

Update 1: Marine Electricals (India) Limited has received an order amounting to Rs 4.48 crore (Excluding Taxes) from Crescon Projects & Services Pvt Ltd, for the supply of LT & HT Panel (Princeton project - 3rd Floor). The delivery shall be over 2-3 Months.

Update 2: Marine Electricals (India) Limited will showcase its latest electrical, electronics, and navigation systems at SMM 2024, the world's leading maritime exhibition, held in Hamburg, Germany, from September 3rd to 6th. This global platform will allow us to connect with European ship owners and shipyards, expanding our presence in the commercial shipping industry. By participating in SMM 2024, we aim to contribute to the maritime industry's transformation by offering innovative solutions that address challenges such as market shifts, operational efficiency, and sustainability. Visit us at Hall No. 06, Stall No. 403 to explore how our technology can enhance your maritime projects.

Update 3: Marine Electricals (India) Limited, trading under the stock symbol "MARINE," has issued a new set of 10.55 crore equity shares and convertible warrants. This preferential issue totals Rs 2,16,27,50,000, with each share priced at Rs 205. The company's board approved the issuance on July 24, 2024, and the decision will be presented at the upcoming AGM/EGM on August 17, 2024.

Update 4: Marine Electricals (India) Limited (MEIL) is providing an update on a pending arbitration with GE Power Conversion India Private Limited (GEPC). The sole arbitrator has awarded GEPC Rs. 21.34 crores plus interest, a decision MEIL believes is challengeable and plans to contest in the High Court. MEIL's legal advisors believe there is a strong chance of overturning the award, and the company is initiating legal proceedings to do so. There are no other pending litigations or settlements to report at this time. This update follows a previous notification on August 14, 2023, regarding ongoing litigations and disputes.

The company has a market cap of over Rs 3,500 crore and its order book stands at Rs 540 crore. According to the Quarterly Results, the net sales increased by 66 per cent to Rs 237.08 crore and net profit increased by 204 per cent to Rs 12 crore in Q4FY24 compared to Q4FY23. In FY24, the net sales increased by 41 per cent to Rs 622.12 crore and net profit increased by 53 per cent to Rs 25.62 crore compared to FY23.

In Q1 FY25, FIIs increased their stake to 0.15 per cent compared to 0.02 per cent in March 2024 while DIIs took a fresh entry and bought 0.11 per cent stake in the company. The stock gave multibagger returns of 386.5 per cent from its 52-week low of Rs 55.10 per share. Investors should keep an eye on this Small-Cap stock.

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

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