Rs 4,820 million order book: This multibagger industrial product company bags new orders worth Rs 22.70 crore from Mazagon Dock Shipbuilders!

Shares of this company jumped more than 60 per cent in the last six months.

Marine Electricals (India) Limited informed in the exchange filing that the company has bagged a Rs. 22.70 crore order from Mazagon Dock Shipbuilders to supply Integrated Bridge Systems (IBS). This 10-month project strengthens their position in the marine electrical sector and showcases trust from a leading shipyard. The deal contributes to their positive market outlook and is expected to be delivered within the next 10 months.

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In Q3FY24, the company posted a 15.65 per cent increase in its consolidated revenue at Rs 146.65 crore compared to Rs 126.80 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 12.75 crore, while the PAT of the company stood at Rs 5.35 crore, from Rs 7.09 crore last year's same quarter. The company has an order book of Rs 4,820 million as of FY23.

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 manufacturing and sale of all types of marine and industrial electrical & electronic components like switch-gears, control-gears etc. The stock also delivered multibagger returns of over 190 per cent in the last one year. While in the last five years, the stock has gained about 500 per cent.

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.