The shares of a small-cap company engaged in providing electro-automation solutions hit a 5% upper circuit after securing orders worth Rs. 6.25 crores from Nxtra Data Limited and Pokarna Engineered Stone Limited.
Share price variations:
With a market capitalization of Rs.3,112.33 crores, Marine Electricals (India) Limited opened the trading session at Rs.223.45, and surged to hit the 5% upper circuit at Rs.234.62 per share.
Reason for the Rise:
As per the exchange filing Marine Electricals (India) Limited received multiple orders for a total of Rs 6.25 crores from Nxtra Data Limited for the Supply, Installation, Testing, and Commissioning of HT Panel for the Pune Project and from Pokarna Engineered Stone Limited for Supply, Installation, Testing and Commissioning of Busducts for Hyderabad Project.
Recent Orders Received:
In September, the company secured an order worth Rs. 8.58 crores from Princeton Digital Group for the supply of LT and MV panels for the MU1 DC1 Airoli Navi Mumbai Project.
Additionally, it received an order from the Ministry of Defence, Sri Lanka, valued at Euro 1,559,175.68, and another order from Princeton Digital Group amounting to Rs. 4.10 crores for the supply, installation, testing, and commissioning of LV panels. The company also bagged an order worth Rs. 12.1 crores from Arcelor Mittal Nippon Steel for LV power and motor control centers.
Financial Performance:
For Q1FY25 the company reported a net profit increase of 73.73% to Rs. 8.27 crores compared to a net profit of Rs. 4.76 crores in Q1FY24, while revenue from operations also marked an increase of 45.45%% to Rs. 125.21 crores from Rs. 129.68 crores in comparison to the same period.
The share has given a multi-bagger return of 121.76% in the last 6 months and a return of almost 296% in the past year and in FY24 company had an ROC of 14.08% and ROCE of 17.76%.
About the company:
Marine Electricals is engaged in the business of Integrated Electrical and Automation Solutions across the Marine sector (Indian Navy, Commercial Shipbuilding) and the Non-Marine sector (Data Centre, Building Management Systems, Industrial, etc).
The Company provides solutions in Low Voltage, Medium Voltage, and Industrial Automation backed by In-house Product Design & Development, Manufacturing, Installations, and after-sales service.
The Company has business relationships with global electrical players like Schneider Electric, Siemens, and GE. Further, the company has entered into an agreement with NLC India Limited to provide a Solar Power Evacuation system, thus venturing into the renewable energy segment.
Written By Joseph Pv
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