The shares of a leading manufacturer of heavy-duty mechanical seals rose to 7 percent to Rs 611 per share after the company bagged an order to supply mechanical seals.
On Monday, Sealmatic India Ltd shares closed at Rs 611 per share, up 7.10 percent from the previous close price. The company has a market capitalization of Rs 552 crore.
According to the Sealmatic exchange filing, the company bagged an order to supply 26 API mechanical seals along with 26 API Plans for various pumps in the BBU, RFU, ARU & CDU units at Bharat Petroleum Corporation Limited.
Recently, Sealmatic India Ltd has partnered with EcoTech of the USA to expand its footprint throughout the United States and to develop a cutting-edge center of excellence to meet America’s rising need for high-quality mechanical seals.
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
The company’s revenue has jumped by 38 percent yearly, from Rs 42 crore in FY 21-22 to Rs 58 crore in FY 22-23. In the same timeframe, Net profit has significantly increased by 25 percent from Rs 8 crore to Rs 10 crore.
Sealmatic India shares have delivered a return of around 158 percent in a year, This shows that a shareholder investment of Rs 1 lakh in the company would be worth Rs 2.58 lakhs in a year.
Sealmatic India Limited is engaged in the business of designing and manufacturing mechanical seals and associated products.
Sealmatic India 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.
Sealmatic offers the widest portfolio of seals and seal supply systems per API 682 4th edition. Sealmatic’s API-compliant mechanical seals offer technically competent, practical solutions that provide significantly greater safety and process reliability in refining technology oil & gas and chemical industries.
Written by Omkar Chitnis
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