The company designs and manufactures mechanical seals and related products. The company’s mechanical seals are primarily employed in the pulp and paper, oil and gas, refinery, petrochemical, chemical, fertiliser, power, mining, aerospace, marine, pharmaceutical, and other industrial fields.
Sealmatic India Ltd shares were trading at Rs 590 on the Bombay Stock Exchange on Thursday, down 0.16 percent, and the company has a market capitalization of Rs 533 crore.
Sealmatic India Ltd is India’s only domestic manufacturer or monopoly company in mechanical seal production.
It 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.
Sealmatic is the only mechanical seal company in India which has received ISO 19443 accreditation for Nuclear Applications.
The company’s share price has climbed by 151 percent in the previous three months, from a listing price of Rs 236.25 to present levels.
Company’s revenue climbed 38 percent year on year, rising from Rs 42 crore in FY 21-22 to Rs 58 crore in FY 22-23. Similarly, net profit increased by 25 percent, rising from Rs 8 crore to Rs 10 crore.
The business’s total assets climbed from 29 crore to about 39 crore in FY2022, while total borrowings declined by 179 lakhs, showing that the company is investing more in its assets for long-term growth while also paying down its debt to a substantial extent.
Mechanical seal demand is increasing, due to expanding manufacturing and industrial sectors across the world.The worldwide mechanical seals market is expected to increase by around $ 1.37 billion with a CAGR of 5.27% by 2026, with the current market value being at $ 4.15 billion.
The Indian government is emphasising on irrigation projects, drinking water supply, sanitation, infrastructure, and key industries such as refineries, power projects, petrochemicals, and urban housing are likely to fuel demand for mechanical seals in the various core industrial sectors.
Written by Omkar Chitnis
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