Multibagger Engineering stock engaged in the manufacturing and sale of all types of marine and industrial electrical & electronic components hit a 5 percent upper circuit in the day’s trade upon receiving a work order worth Rs. 14.33 Crores from Cummins India Limited.
With a market capitalization of Rs. 1,324 Crores, the shares of Marine Electricals Limited hit a 5 percent upper circuit at Rs. 100.90. It has delivered multibagger returns of 172 percent in a year
Marine Electricals (India) Limited has received a work order worth Rs. 14.33 Crores from Cummins India Limited for the supply of Sandwich Bus Duct. It is designed to offer flexibility in power distribution with different plug-in & tap-off box options.It is used power plants and big switching station applications and many more.
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.
As of FY23 Marine Electricals (India) Limited has a healthy order book of Rs. 482 Crores and in FY24 it has received multiple orders from well-known players like Larsen & Toubro, Cochin Shipyard, and many more.
Its revenue from operations grew by 6.79 percent from Rs. 116.40 Crores in Q3FY23 to Rs. 124.31 Crores in Q3FY24, accompanied by profits of Rs. 8.28 Crores to Rs. 5.16 Crores.
It has reported a return on equity (ROE) of 11 percent and a return on capital employed (ROCE) of 16 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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