The share price of this monopoly engineering stock opened in green on Wednesday after the company received a certification from the Indian Register of Shipping. The shares of this company generated an overall return of 60.68 percent over the past year.
With a market capitalization of Rs 539.29 crores, the shares of Sealmatic India Ltd company closed at Rs 590 apiece down by 1 percent on Wednesday’s session.
According to the company’s exchange filings, the company received the Marine Works Approval Certification from the Indian Register of Shipping (IRS). This certification confirms that Sealmatic Ltd’s manufacturing facilities and quality control procedures meet the standards required for naval and marine applications, particularly in the defense sector.
The filings also mention that this certification will open new avenues for Sealmatic Ltd particularly in the defense sector where the reliability and performance of mechanical seals are crucial.
Looking into the financials of Sealmatic India Ltd from a YoY standpoint, the revenue from operations increased by 22.4 percent from Rs. 58 crores in FY22-23 to Rs 71 crores in FY23-24. While the net profits decreased by 10.2 percent from Rs. 10.98 crores in FY22-23 to Rs 9.85 crores in FY23-24.
As of March 2024, the firm’s shareholding pattern stood at 72.38 percent for promoters, 24.70 percent for the public, and 2.92 percent for Domestic Institutional Investors (DII).
Incorporated in 2009, Sealmatic India Ltd manufactures mechanical seals, seal supply systems, pumps, valves, motors, and high-precision mechanical engineering spares and assemblies.
Sealmatic India Ltd is India’s only domestic manufacturer or monopoly company in mechanical seal production.
It 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.
Written By Zahal
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