Multibagger penny stock under Rs 85: This industrial product company bags new orders worth Rs 15.75 crore from Larsen & Toubro!

Shares of this company jumped more than 70 per cent in the last six months.

Marine Electricals (India) Limited informed in the exchange filing that the company has received an order from L&T Chennai for Rs 15.75 crore to supply, supervise, test, and commission LV panels. The delivery will be completed within 5 months.

Recently, the company also secured an order worth Rs 9.97 crore from Goa Shipyard Limited, Vasco–Da-Gama Goa. The order is received for the supply of an Integrated Platform Management System (IPMS) for PCV project Yard 1267 & 1268. The order is to be completed within 9 months.

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Shares of Marine Electricals (India) Limited have also delivered multibagger returns to their shareholders in the three years. During this period, the company’s share price jumped from Rs 34.00 on November 14, 2020, to Rs 83.90 on November 07, 2023, an increase of about 140 per cent in a three-year holding period.

Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. The company is engaged in manufacturing and sale of all types of marine and industrial electrical & electronic components like switch-gears, control-gears etc. The company has a ROCE of 16.0 per cent and an ROE of 11.0 per cent. The company has a market capitalisation of Rs 1,060 crore.

The stock has shown tremendous growth and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.