The shares of a leading manufacturer of heavy-duty mechanical seals rose to 6 percent to ₹796 per share after receiving a certification from Russia to supply seal systems to the oil and gas industry.
At 11:25 a.m., On the Bombay stock exchange, Sealmatic India Ltd shares were trading at ₹780.05 per share, up 4.03 percent from the previous close price. The company has a market capitalization of ₹706 crore.
Sealmatic India Limited received TRCU 10 & TRCU 32 certification from Russian for API (682) Seal Supply Systems. This certification will mark the company to expand its business in the Russian market with the highest standards of safety and quality. Without the TRCU 10 & TRCU 32 Certification, no supplies can be made to the Russian Oil & Gas sector.
TRCU 32 certification ensures that Sealmatic’s API (682) Seal Supply Systems comply with regulations governing the design, construction, and operation of the pressure equipment, guaranteeing its suitability for use in high-pressure environments common in industries such as Oil & Gas, Petrochemicals, and Refineries.
In December 2023, Sealmatic partnered with EcoTech to offer superior-quality sealing technology and will significantly add value to the convenience of users in process industries such as oil & gas, refining, power, marine, pulp & paper, chemical, petrochemical, etc.
Sealmatic shares have delivered a return of around 230 percent in a year, This shows that a shareholder investment of ₹1 lakh in the company would be worth ₹ 3.30 lakhs in a year.
The company’s revenue has jumped by 40 percent yearly, from ₹ 42 crore in FY 21-22 to ₹58 crore in FY 22-23. In the same timeframe, Net profit has significantly increased by 37 percent from ₹8 crore to ₹11 crore.
Sealmatic is the only mechanical seal company in India that has received ISO 19443 accreditation for Nuclear Applications. It is India’s only domestic manufacturer or monopoly company in mechanical seal production.
Sealmatic India Limited is engaged in the business of designing and manufacturing mechanical seals and associated products.
Sealmatic India Ltd is a leading designer and manufacturer of mechanical seals that are used across Oil and gas, refinery, petrochemical, chemical, pharmaceutical, fertilizer, power, mining, pulp & paper, aerospace, marine, and other industries.
Semantic 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 Omkar Chitnis
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