Defence marine company bags new orders worth Rs 82,44,00,000 from Mazagon Dock Shipbuilders; Garden Reach Shipbuilders & Engineers and Goa Shipyard
The stock has given multibagger returns of 126 per cent from its 52-week low of Rs 97.40 per share.
Marine Electricals (India) Limited has secured significant new orders, totalling approximately Rs 82.44 crore (excluding taxes). This includes an order worth Rs 4.97 crore from Mazagon Dock Shipbuilders Limited for the supply of spares for the P15B Integrated Bridge System (IBS). Additionally, the company received orders/Letters of Award amounting to Rs 77.47 crore from Garden Reach Shipbuilders & Engineers Limited and Goa Shipyard Limited for the supply of Integrated Bridge Systems. The delivery of these goods is scheduled over a period of 27 months.
Earlier, the company has received an order amounting to Rs 30.50 crore (Excluding Taxes) from Mazagon Dock Shipbuilders Limited for the supply of electrical equipment and AMCS for the MPV Project. The delivery shall be over 27 months.
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About the Company
Marine Electricals (India) Limited is a leading provider of electrical automation and information technology solutions for the marine and industrial sectors. With over 40 years of experience, the company offers a comprehensive range of products and services, including switchgear, control gears, integrated platform management systems, power generation and distribution, marine lights, motors, NavCom solutions and low and medium-voltage power distribution solutions for various industries. Marine Electricals is committed to providing high-quality, reliable and innovative solutions while supporting the 'Make in India' initiative.
The company has a market cap of Rs 2,995 crore. The stock has given multibagger returns of 126 per cent from its 52-week low of Rs 97.40 per share.
Disclaimer: The article is for informational purposes only and not investment advice.