Multibagger Engineering stock engaged in the manufacturing and sale of all types of marine and industrial electrical & electronic components jumped 4 percent from the day’s low after it received orders worth ~Rs. 22 Crores from Laren&Toubro and others.
At 3:20 p.m. the shares of Marine Electricals (India) Limited were trading at Rs. 94, up 0.21 percent from its previous day’s close price of Rs. 93.80 and its market capitalization is Rs. 1,218 Crores. It has delivered multi-bagger returns of 186 percent in a year.
It has received multiple orders worth Rs. 21.90 Crores from different players which include Larsen & Toubro Limited, and L&T Shipbuilding for the supply of Integrated Bridge System (IBS), Mian Switchboard, and Electricals Equipmentsfor MPV Project (2 shipsets ). The delivery shall be over a period of 12 months.
The orders include the supply of spares of the Integrated Bridge System (IBS) from Material Organisation (Vizag), Visakhapatnam and the delivery shall be done over a period of 6 months.
The last order is from Data Center Holdings India LLP, for the supply of Installation testing and commissioning of row-wise BBT and Energy Monitoring system. The delivery shall be over a period of 4.5 months.
The company’s revenue from operations grew 17.68 percent from Rs. 376.33 Crores in FY22 to Rs. 442.85 in FY23, accompanied by increasing profits of Rs. 12.98 Crores to Rs. 17 Crores.
Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information & communication technology solutions, It is engaged in the manufacturing and sale of all types of marine and industrial electrical & electronic components like switchgear, control gears, and many more.
Written by: Bharath K.S
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