Rs 482 crore order book & FIIs bought 29,521 shares: This multibagger company bags new order worth Rs 11.54 crore from UDUPI Cochin Shipyard Ltd

The stock gave multibagger returns of over 120 per cent from its 52-week low of Rs 43.35 per share.

Marine Electricals (India) Limited informed that the company has received an order amounting to Rs. 11.54 crore (excluding taxes) from UDUPI Cochin Shipyard Limited, for an electrical package. The delivery shall be over a period of 8 months.

Earlier, the company received an order amounting to Rs 14.33 crores (excluding taxes) from Cummins India Limited for the supply of sandwich bus duct. The delivery shall be over a period of 12 months.

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. 

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The company has a market cap of over Rs 1,200 crore and its order book stands at Rs 482 crore. According to the Quarterly Results, the net sales increased by 7 per cent to Rs 146.65 crore and net profit increased by 12 per cent to Rs 5.32 crore in Q3FY24 compared to Q2FY24. In FY23, the net sales increased by 17.82 per cent to Rs 443 crore and net profit increased by 30.77 per cent to Rs 70 crore compared to FY22.

The stock’s 52-week high is Rs 122.90 and its 52-week low is Rs 43.35. In Q4 of the financial year 2024, FIIs bought 29,521 shares or 0.02 per cent stake in the company. The stock gave multibagger returns of over 120 per cent from its 52-week low of Rs 43.35 per share. Investors should keep an eye on this Small-Cap stock.

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