The shares of the Electrical company specializing in providing integrated technical services in the fields of electrical automation and information jumped upto 4 percent upon receiving a work order from Blue Star Limited for Supply of Power Distribution System for Rs. 16 Crores.
Price action
With a market capitalization of Rs. 2,880 crores on Wednesday, the shares of Marine Electricals Limited jumped upto 4 percent making a high of Rs. 217 per share compared to its previous closing price of Rs. 208.78 per share.
What Happened
Marine Electricals Limited engaged in providing integrated technical services in the fields of electrical automation and information has received a domestic work order for Rs. 16 crore from M/s. Blue Star Limited, for the supply of a Power Distribution System which is to be executed over the six months.
Segments Performance
The company deals with two segments viz Marine and Industry and the company has been receiving orders for these segments regularly. It has achieved revenues of Rs. 265.79 crores for the Marine Segment and 267.93 crores for the Industry Segment during FY 2023-24 as against Rs. 198.07 crores for the Marine segment and Rs. 193.19 crores for the Industry segment during FY 2022-23.
About the Company
Marine Electricals Limited is a prominent Indian company specializing in electrical systems and solutions for 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.
Financials
The company’s revenue rose by 36 percent from Rs. 123.25 crore to Rs. 167.86 crore in Q2FY24-25. Meanwhile, Net profit rose from Rs. 4.95 crores to Rs. 9.72 crores in Q2FY24-25.
Written by Sridhar J
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