The shares of Electrical stock, specializing in the manufacturing and supply of electrical equipment, hit a 5 percent upper circuit upon receiving a work order worth Rs. 37.92 crores from DC Development Noida Ltd
Price action
With a market capitalization of Rs. 2,763.72 crores on Friday, the shares of Marine Electricals Limited hit 5 percent upper circuit making a high of Rs. 210.35 per share compared to its previous closing price of Rs. 200.35 per share. The stock has given a 97.51 percent from the last year.
What Happened
Marine Electricals Limited specializing in the manufacturing and supply of electrical equipment has received a new domestic order from DC Development Noida Ltd for worth Rs. 37.92 Crores. This order is for the Design, manufacture, and supply of an LV skid system to be delivered over 10 months.
About the Company
Marine Electricals Limited is an Indian company engaged in the manufacturing and supply of electrical equipment for marine, offshore, and industrial sectors. It provides services such as design, installation, and maintenance of electrical systems. The company’s product range includes lighting, switchgear, power distribution, and automation systems.
Financials
The company’s revenue rose by 36 percent from Rs. 123.25 crore to Rs. 167.86 crore in Q2FY24-25. Meanwhile, Net profit fell from Rs. 4.95 crore to Rs. 9.72 crore during the same period.
Segment revenue (FY24)
The company’s revenue is primarily driven by two segments: the Marine segment, which generated Rs. 265.7 crores, and the Industry segment, which generated Rs. 267.9 crores in FY24.
Orderbook (As of FY24)
The company’s consolidated order book increased from Rs. 356 Cr in FY22 to Rs. 600 Cr in FY24, leading to a 65 percent consolidated revenue growth between FY22 and FY24. As of FY24, the standalone order book is Rs. 497 Cr which includes: Marine 59 percent and Industry 41 percent.
Written by Sridhar J
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