The shares of the integrated technical services provider gained up to 5 percent after the company received a work order worth Rs 22.70 crore from Mazagon Dock Shipbuilders Limited.
With a market capitalization of Rs 1,443.35 crore, the shares of Marine Electricals (India) Ltd were trading at Rs 111.40 per share, decreasing around 2.75 percent as compared to the previous closing price of Rs 114.55 apiece.
According to the exchange filing, Marine Electricals (India) Ltd has received a work order worth Rs 22.70 crore from Mazagon Dock Shipbuilders Limited for the supply of IBS. The delivery shall be over 10 Months.
Have a look into the company’s financials, the company’s revenue increased by 7 percent from Rs 116.40 Q3FY23 to Rs 124.31 Q3FY24. Further, During the same time period, net profit decreased by 37 percent from Rs 8.28 crores to Rs 5.16 crores.
The company’s order book position is estimated to be Rs. 4,820 million at the end of FY 2022-2023, up from Rs. 3,562 million in FY 2021-2022, with a rise in the range of goods offered to its clients anticipating a further increase and solid order booking in FY 2023-24.
The company is mainly dealing into two segments viz Electricals & Electronics and Solar. The Company achieved revenues of Rs. 39,088.54 lakhs for the Electricals & Electronics segment and Rs.38.94 lakhs for the Solar segment during FY 2022-23 as against Rs. 32,058.48 Lakhs for Electricals & Electronics segment and Rs. 230.08 Lakhs for Solar segment during FY2021-22.
The stock returned 69.46 percent in six months and 184.63 percent in a year. If an investor invests Rs 1 lakh in the firm, it will be worth Rs 2.84 lakh per year.
Marine Electricals (India) Limited is an integrated technical services firm based in India that provides electrical automation and information and communication technology solutions. The corporation operates in two segments: electrical, electronics, and solar.
Written by:- Abhishek Singh
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.
