Multibagger Marine and Defence Company Secures Rs 6.25 Crore Order from Multiple Clients – Stock Hits Upper Circuit on Friday!
The company's shares have delivered a return of around 600 per cent to its shareholders in just two years.
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.
Marine Electricals (India) Limited has secured orders worth approximately Rs 6.25 crore. The orders are as follows:
- From Nxtra Data Limited, for the Supply, Installation, Testing, and Commissioning (SITC) of HT Panels for the Pune Project. The delivery will be completed over a period of 6 months.
- From Pokarna Engineered Stone Limited, for the Supply, Installation, Testing, and Commissioning (SITC) of Busducts for the Hyderabad Project. The delivery is also scheduled to take place over 6 months.
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Marine Electricals is a Small-Cap company 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.
On Friday, the shares of Marine Electricals (India) Ltd closed at around Rs 234.62 per share, with a market capitalization of Rs 3,112.59 crore. The stock has delivered a multibagger return of around 290 per cent in just 1 year. Moreover, the company’s shares rallied 5 per cent and hit the upper circuit on Friday’s trading session.
According to the Quarterly Results, in Q1 FY25, the company reported a revenue of Rs 138.46 crore and an operating profit of Rs 13.34 crore. The operating profit margin for the quarter stands at 9.63 per cent. The company’s net profit stood at Rs 7.05 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 68.45 per cent, FIIs own 0.29 per cent which was earlier 0.15 per cent, DIIs reduced Stakes to 0.07 per cent from 0.11 percent while public investors own 31.19 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.