The shares of this technical service provider surged by 7 percent on Tuesday’s trading session after the company announced that it had secured a key order worth Rs 24.74 crores. In this article, we will look at the details of the order.
With a market capitalization of Rs 2,877 crores, the shares of Marine Electricals (India) Ltd are currently trading at Rs 209 per share, down by 37.4 percent from its 52-week high of Rs 333 per share. In the last year, the stock has delivered a positive return of 119.40 percent.
About the announcement
The company announced that it has bagged an order amounting to Rs 24.74 crores (excluding taxes) from Digital Edge DC (India) Private Limited for the Supply, Installation, Testing, and Commissioning of the Power Distribution System for the BOM1 project. The delivery of the project is expected to be completed within four months.
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Financial Highlights
The company reported a revenue growth of 32 percent to Rs 193.80 crores in Q3 FY25, up from Rs 146.65 crores in Q3 FY24. However, its net profit took a hit of 10 percent to Rs 4.78 crores in Q3 FY25 as compared to 5.32 crores in Q3 FY24.
The company has delivered an ROE and ROCE of 11.22 percent and 15.39 percent respectively, and is currently trading at a P/E of 78.33x as compared to its industry average of 45.35x.
About the company
Marine Electricals (India) Limited, which was established in 1978 and is based in Mumbai, designs, engineers, and manufactures marine, industrial, electrical, and electronic systems. The company, which operates in its Electricals & Electronics and Solar business segments, offers power generation, navigation, communication, and electrical propulsion solutions.
It also provides turnkey installations, maintenance, upgrading, and solar project services. Marine Electricals is a subsidiary of KDU Enterprises Private Limited and caters to customers within India as well as overseas.
Written by Satyajeet Mukherjee
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