Multibagger Marine and Defence Company Bags Order Worth Rs 4,48,00,000; DIIs Bought Stake After 3 Years, 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 year 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.
Today the company has announced that it has received an order worth Rs 4.48 crore (excluding taxes) from Crescon Projects & Services Private Limited for the supply of LT and HT panels for the Princeton project (3rd Floor). The delivery is scheduled to occur over a period of 2-3 months.
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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:
Today, the shares of Marine Electricals (India) Ltd are at around Rs 255.30 per share, with a market capitalization of Rs 3386.94 crore. The stock has delivered a multibagger return of around 290 per cent in just 1 year.
Financial performance:
According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 237 crore and an operating profit of Rs 20 crore. The operating profit margin for the quarter stands at 9 per cent. The company’s net profit stood at Rs 12 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.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.