The shares of a Micro cap Engineering stock engaged in designing and manufacturing of mechanical seals and associated products is in focus after securing an order from Mazagon Dock for providing parts of stern tube seal for Kalvari Class Submarines.
Share Price Movement
The shares of Sealmatic India Ltd, with a market capitalization of Rs 446.17 Crores, as of afternoon were trading around Rs 493 per share, 1.9% down from its previous close of Rs 502.5. The shares generated a return of 119% since it got listed in March 2023.
Order Details
As per a press release dated February 10, 2025, the company announced that it has secured a prestigious order for the critical parts of Stern Gland Seal for the Kalvari Class Submarine (Project P-75) from Mazagon Dock Shipbuilders Ltd.
The Kalvari class submarines, formally classified as the Project-75 submarines is a vital equipment of India’s defense modernization efforts under the ‘Make in India’ initiative. For submarines, particularly diesel-electric variants like the Kalvari-class, the reliability of the stern gland seal is very significant. The time period by which order will be executed is 24 weeks.
Management Commentary
Hitesh Vyavahare, Corporate Manager (Defence Applications), commented, “This prestigious order marks a key milestone for Seamatic’s future efforts in the naval and maritime industry, particularly in defense. It demonstrates our commitment to manufacturing high-quality mechanical seals for critical applications, ensuring reliability and performance in the most demanding environments.”
Financials
Its revenue from operations grew by 16 percent from Rs. 37.01 Crores in H1FY24 to Rs. 43.93 Crores in H1FY25. Its Net Profits slightly declined by 2% from Rs. 6.59 Crores to Rs. 6.46 Crores over the same period. (BSE Website)
Previous Orders
As per a press release dated January 29, 2025, Sealmatic India Ltd, has achieved a significant milestone by securing one of the most prestigious orders to supply supercritical mechanical seals for various high-capacity power projects. These include the 800 MW Supercritical Power Plant (Adani), 660 MW Supercritical Power Plant (DVC Raghunathpur), and 500 MW Critical Power Plants (NTPC Vindhyanchal, DVC Bokaro, and NTPL).
About
Sealmatic Limited designs and manufactures mechanical seals and associated products mainly for the oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and many more industrial applications.
Written By Adhvaitha Nayani
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