Monopoly stock engaged in manufacturing mechanical seals and spares jumped nearly 15 percent after renewal of certification for its facilities from the Ministry of Science and Technology.
Market Movement
Shares of Sealmatic India Limited, engaged in manufacturing mechanical seals and spares, soared nearly 15 percent during Monday’s trading session, reaching an intra-day high of Rs.664 per share from the previous close of Rs.580.4 apiece.
Key Trigger
The surge in share price followed the company’s renewal of certification from the Ministry of Science and Technology, for its facilities. This certification underscores Sealmatic’s dedication to research and development.
The company’s R&D unit, which drives its innovation, is equipped with state-of-the-art test rigs that meet all required standards.
Sealmatic also specialises in Finite Element Analysis (FEA) and Computational Fluid Dynamics (CFD), utilising proprietary tools like the Mechanical Seal Dictionary and Seal Selection Guide.
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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.
Management Commentary
“The recognition from the Ministry of Science and Technology marks a significant milestone in the journey of Sealmatic. With this recognition, Sealmatic is well positioned to continue its growth and innovation, contributing to the advancement of technology not only in India but also on the global stage.
The company will continue to invest in research and development, ensuring that it remains at the forefront of technological advancements in the industry,” says Umar AK Balwa – Managing Director, Sealmatic India Ltd.
International Business Expansion
Sealmatic is expanding its business to support OEMs and end-users in the Middle East, Europe, and the USA, now exporting to 53 countries. The company has formed strategic partnerships in high-growth areas like the UAE, Thailand, and the USA and is making notable progress in the Russian market post-Ukraine conflict.
Additionally, Sealmatic has achieved ISO 19443 certification for the defence and nuclear sectors.
Reputed Clientele
Sealmatic India Limited features a distinguished client roster including Reliance, Indian Oil, Cipla, IFFCO, HP, Shell, L&T, NTPC, BHEL, Essar, KSB, Sundyne and many more.
Financial Performance
Turning to the financials of Sealmatic India Ltd. the company reported revenues of Rs.34 crore for the half year ended June 2024 and net profit stood at Rs.3.26 crore.
About the company
Sealmatic India Limited is an India-based company engaged in designing and manufacturing mechanical seals and associated products and sealing support systems, mainly for the oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and many more industrial applications
Written by – Siddesh S Raskar
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