The shares of a leading manufacturer of heavy-duty mechanical seals rose to 6.3 percent to Rs 628 per share after the company partnered with US-based firm EcoTech to boost its presence in the United States of America.
At 3:27 p.m., On the Bombay stock exchange, Sealmatic India Ltd shares were trading at Rs 585.05 per share, down 0.92 percent from the previous close price. The company has a market capitalization of Rs 529 crore.
Sealmatic partnership with EcoTech will offer superior-quality sealing technology and will significantly add value to the convenience of users in the process industries such as oil & gas, refining, power, marine, pulp & paper, chemical, petrochemical, etc.,
Sealmatic India Ltd has partnered with EcoTech of USA to expand its footprint throughout the United States and to develop a cutting-edge center of excellence to meet America’s rising need for high-quality mechanical seals.
Furthermore, the sealmatic intends to Alice America’s $1.25 billion mechanical seal industry. According to the company’s exchange filing..
Sealmatic’s collaboration with EcoTech to provide superior-quality sealing technology and considerably improve the convenience of customers in process sectors such as oil and gas, refining, electricity, marine, pulp and paper, chemical, petrochemical, and so on.
EcoTech employs a team of technical solutions engineers dedicated to staying at the forefront of the process equipment markets. This includes expertise in mechanical seals, pumps, and many other industrial rotary equipment.
Sealmatic India shares have delivered a return of around 150 percent in a year, This shows that a shareholder investment of Rs 1 lakh in the company would be worth Rs 2.50 lakhs in a year.
The company’s revenue has jumped by 75 percent yearly, from Rs 33 crore in FY 21-22 to Rs 58 crore in FY 22-23. In the same timeframe, Net profit has significantly increased by 37 percent from Rs 8 crore to Rs 11 crore.
Semantic is one of the few Indian companies that has been approved/registered as a vendor with both national and international clients. It is the only indigenous mechanical seal producer approved by BHEL for thermal power plant components and it operates in over 45 countries worldwide.
Sealmatic is the only mechanical seal company in India that has received ISO 19443 accreditation for Nuclear Applications. It is India’s only domestic manufacturer or monopoly company in mechanical seal production
Sealmatic India Limited is engaged in the business of designing and manufacturing mechanical seals and associated products.
Sealmatic India Ltd is a leading designer and manufacturer of mechanical seals that are used across Oil and gas, refinery, petrochemical, chemical, pharmaceutical, fertilizer, power, mining, pulp & paper, aerospace, marine, and other industries.
Written by Omkar Chitnis
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