Multibagger Engineering stock engaged in the manufacturing and sale of all types of marine and industrial electrical & electronic components hit a 5 percent upper circuit in the day’s trade after it received an order worth ~Rs. 32 Crores from the Ministry of Defence.
At 11:20 a.m the shares of Marine Electricals Limited were trading at Rs. 101.10, up 4.44 percent from its previous day’s close price of Rs. 96.80 and its market capitalisation is Rs. 1,316 Crores. It has delivered multi-bagger returns of 225 percent in a year.
Marine Electricals Limited has received an order worth Rs. 31.85 Crores from the Ministry of Defence for the procurement of 6 integrated bridge systems (IBS) for TEG and Shivalik classes of ships, the order includes 5 years of AMC for Rs. 6 Crores and it has to be delivered over 36 months.
The company’s revenue from operations grew 17.68 percent from Rs. 376.33 Crores in FY22 to Rs. 442.85 Crores in FY23, accompanied by increasing profits of Rs. 12.98 Crores to Rs. 17 Crores.
It has reported a return on equity (ROE) of 8.88 percent and a return on capital employed (ROCE) of 14.49 percent, it is making decent returns on its equity and capital employed.
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.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
