The shares of the Electrical company specializing in providing integrated technical services in the fields of electrical automation and information are in focus upon receiving a work order for Rs. 9.94 crores from Cochin Shipyards Limited
Price action
With a market capitalization of Rs. 2,173.18 crores on Wednesday, the shares of Marine Electricals Limited jumped upto 2.1 percent, making a high of Rs. 163.78 per share compared to its previous closing price of Rs. 160.30 per share.
What Happened
Marine Electricals Limited is engaged in providing integrated technical services in the fields of electrical automation and information, has received a work order for Rs. 9.94 crores from Cochin Shipyard Limited for the Next Generation Missile Vessel (NGMV) project, with delivery over four years.
About the Company
Marine Electricals Limited is a prominent Indian company specializing in electrical systems and solutions for the marine, industrial, and infrastructure sectors. It offers products like switchboards, control panels, and automation systems. The company serves a wide range of industries, including shipping, power, and construction.
Product and Services
Marine Electricals delivers a wide range of products and services, including marine-specific electrical components like switches, circuit breakers, and transformers.
The company designs advanced automation systems, such as control panels and SCADA, retrofits and upgrades ship electrical systems, and provides expert training and consultancy in marine electrical engineering.
Manufacturing Facilities
As per the latest data, Marine Electricals (India) Limited operates a robust network with 14 service centers along India’s coastal locations and 18 sales and representative offices across India and the Middle East. Its manufacturing capabilities include 8 plants across Goa, Mumbai, Chennai, UAE, and Italy, covering a total area of 3 lakh sq. ft.
Financials
The company’s revenue rose by 50 percent from Rs. 126.04 crore to Rs. 189.79 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 5.16 crore to Rs. 10.22 crore during the same period.
Written by Sridhar J
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