Shares of this smallcap company locked 5 percent upper circuit in Monday’s trading session after receiving an order worth Rs. 11.16 crores for the supply and installation of LV Panel. The shares have delivered a multi-bagger return of 214 percent to its shareholders in one year.
Price Movement:
With a market capitalization of Rs. 2,039 crores, the shares of Marine Electricals (India) Ltd started Monday’s trading session on a higher note at Rs. 149.75 compared to its previous close of Rs. 153.66. Within a few minutes of the opening bell, the shares clocked 5 percent upper circuit at Rs. 153.66 apiece.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received an order amounting to 11.16 crores (Excluding Taxes) from Princeton Digital Group, for the supply and installation of LV Panel. The Delivery shall be over a period of 3 to 4 months.
Financials:
Looking at the company’s financial statements, the revenue jumped by around 62 percent from Rs. 146.65 crores during the December quarter to Rs. 237.08 crores in the March quarter. In addition, the net profits zoomed by 129 percent from Rs. 5.32 crores to Rs. 12.18 crores during the same timeframe.
Comparing the same metrics on a YoY basis, the revenue surged by 67 percent from Rs. 143.12 crores during Q4FY23 to Rs. 237.08 crores in Q4FY24. On the other hand, the net profits magnified by 208 percent from Rs. 3.95 crores to Rs. 12.18 crores during the same period.
Key clients:
Some of the key customers of Marine Electricals in the Marine Segment are BHEL, HSL, SCI, Viking, Abu Dhabi shipping building, etc. and clients in the industrial segment are, TATA Communication, IBM, Cipla, Lodha, and a few more.
Earlier, Marine Electricals (India) Limited had received an order amounting to Rs. 8.02 crores approx (excluding taxes) from Udupi Cochin Shipyard Limited and Schneider Electric India Private Limited for the supply of Navigation & Communication System Panel and LT Panel.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters hold 71.98 percent of the stake, the Public holds 27.99 percent of the shares, and the remaining 0.02 percent of the stakes are held by Foreign Institutional Investors (FIIs).
Company Profile:
Headquartered in Mumbai, Marine Electricals (India) Ltd was incorporated in 1978. The company is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. They are engaged in the manufacturing and sale of all types of marine and industrial electrical and electronic components like switch gears, and control gears.
Written By Vaibhav Patil
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