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Marine Electricals Ltd Secures New Orders Worth Rs. 11.54 and 14.33 Crore

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Marine Electricals (India) Limited has announced the acquisition of two significant orders. The first, amounting to Rs. 11.54 crore (excluding taxes), has been received from UDUPI Cochin Shipyard Limited for an electrical package, with delivery scheduled over an 8-month period.

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In addition, the company has secured an order worth Rs. 14.33 crore (excluding taxes) from Cummins India Limited for the supply of sandwich bus duct, to be delivered over a 12-month timeframe.

Marine Electricals (India) Limited specializes in integrated technical services, encompassing electrical automation and information and communication technology solutions. The company’s offerings include the manufacturing and sale of various marine and industrial electrical & electronic components such as switchgear and control gears.

With a market capitalization exceeding Rs. 1,200 crore, the company’s order book presently stands at Rs. 482 crore. Notably, in the third quarter of FY24, net sales surged by 7% to Rs. 146.65 crore, and net profit saw a 12% increase to Rs. 5.32 crore compared to the preceding quarter.

In FY23, the company witnessed a significant growth in net sales by 17.82% to Rs. 443 crore, while net profit soared by 30.77% to Rs. 70 crore compared to FY22.

The stock has demonstrated resilience, with its 52-week high at Rs. 122.90 and low at Rs. 43.35. In the final quarter of the financial year 2024, Foreign Institutional Investors (FIIs) acquired 29,521 shares, representing a 0.02% stake in the company. Notably, the stock has delivered impressive returns, surging over 120% from its 52-week low of Rs. 43.35 per share. Investors are advised to monitor this Small-Cap stock closely.

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