Shares of this industrial electrical and electronic components manufacturing company jumped up to 2 percent after receiving an order worth Rs. 6.90 crores for the supply of LT Pane. The company’s stock has delivered multibagger returns of 140 percent to its stakeholders on a YTD basis.
With a market capitalisation of Rs.1,160 crores, the shares of Marine Electricals (India) Ltd started Wednesday’s trading session on a flatter note at Rs. 93 compared to the previous close of Rs. 92.80. The shares hit a high of Rs. 95.35, gaining around 2 percent and closed the day at Rs. 88.70 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that they had received an order from 3B Advanced Composites Private Limited located in Goa for a supply of LT Panel worth Rs. 6.90 crores. The product delivery shall be over 4.2 months.
Coming onto the financial statements published by the company, the revenue magnified by 36 percent from Rs. 101.07 crores in the June quarter to Rs. 137.32 crores during the September quarter. In addition, the net profits increased by around 35 percent from Rs. 3.52 crores to Rs. 4.75 crores during the same timeframe.
In FY23, the order book of the company stands at Rs. 486 crores. Additionally, the company has also received orders from L&T amounting to Rs. 16 crores, Goa Shipyard Limited amounting to Rs. 10 crores and a few more.
The company is the largest partner of Schneider in India. It has also partnered with other Global Electrical Players like Siemens, Orolia, Sperry Marine etc.
Headquartered in Mumbai, Marine Electricals (India) Ltd was incorporated in 1978. The company is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. They are engaged in the manufacturing and sale of all types of marine and industrial electrical and electronic components like switch gears, and control gears.
Written By Vaibhav Patil
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
