Defence stock engaged in the manufacturing and sale of all types of marine and industrial electrical & electronic components in focus upon receiving new work orders worth Rs. 5.13 Crores to supply Navigational and COTS Radar Systems.
Price Action
With a market capitalization of Rs. 2,994.91 Crores, the shares of Marine Electricals Limited hit a 5 percent lower circuit at Rs. 217.11 per equity share, from its previous day’s close price of Rs. 228.54.
What Happened
Marine Electricals Limited has received a new work order from the Controller Procurement Material Organisation (Karwar) for the Supply of Navigational Radar and COTS Radar I-Band for a consideration of Rs. 5.13 Crores and it should be delivered over a period of 4-5months.
About the Company
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.
Its business verticals include Defence & Marine Solutions, Industry Solutions, Vessel Traffic Management Systems, and Electric Vehicle Charging Solutions.
It has a strong business clientele with well-known players like Mazagon Dock Shipbuilders, Cochin Shipyard, Goa Shipyard, ONGC, Shipping Corporation of India, Garden Reach Shipbuilders & Engineers, Titagarh Rail Systems, CEAT, Suzlon, Pepsico, and many more.
Financials and Ratios
Its Revenue from operations grew by 37 percent from Rs. 101.07 Crores in Q1FY24 to Rs. 138.46 Crores in Q1FY25, accompanied by profits of Rs. 3.52 Crores to Rs. 7.05 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 11.2 percent, and a return on capital employed (ROCE) of 15.4 percent. It has reported a debt-to-equity ratio of 0.39.
Written by: Bharath K.S
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