During Monday’s trading session, the shares of one of the largest manufacturers of LV and MV switchgear in India hit a 5% upper circuit at Rs. 236.32 on NSE, after receiving orders worth Rs. 12.93 crores from Cochin Shipyard Limited and Adani Group.
With a market cap of Rs. 3,259.9 crores, the shares of Marine Electricals (India) Limited opened in the green at Rs. 230.5, up by nearly 2.4 percent, as against its previous closing price of Rs. 225.07.
What’s the news:
Marine Electricals secured orders amounting to Rs. 12.93 crores from Cochin Shipyard Limited and Kutch Copper Tubes Limited (Adani Group). According to the latest regulatory filings with the NSE, the company has received an order from Cochin Shipyard to supply Base & Depot Spares for the ASW & SWC Project, with delivery scheduled over a span of 8 months.
Additionally, Marine Electricals has received another order from Kutch Copper Tubes Limited for the supply of LT Panels for the Mundra Site Project, with delivery set to take place over a period of 4 months.
Previous News & Orders:
On 14th October, Marine Electricals opened its 5th plant NDR Goaspace Private Limited, located in Salcete, Goa, expanding its manufacturing footprint by 20 percent.
This new facility will enhance the company’s production capacity for LV/MV switchboards, allowing them to produce new solutions, and speed up delivery timelines to their valued customers.
On 24th October, the company received orders totalling Rs. 11.27 crores from Listenlights Private Limited, Nxtra Data Limited, and Core Greentech LLP for the supply, installation, testing and commissioning of LV Panels.
On 31st October, Marine Electricals secured an order worth RS. 5.13 crores from Controller Procurement Material Organisation (Karwar) for the supply of Navigational Radar and COTS Radar I-Band.
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Financials:
Marine Electricals reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 34.3 percent, rising from Rs. 137 crores in Q2 FY24 to Rs. 184 crores in Q2 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 5 crores to Rs. 13 crores, representing a rise of around 160 percent YoY.
Key Financial Ratios:
In terms of key financial metrics, Marine Electricals has a Return on Equity (RoE) of 11.2 percent and a return on capital employed (RoCE) of 15.4 percent. Additionally, the company’s debt-to-equity ratio stands at 0.23.
Stock Performance:
The stock has delivered multibagger returns of nearly 153.4 percent in one year, as well as around 132 percent returns in the last six months. So far in 2024, the shares of Marine Electricals have given multibagger returns of about 129 percent.
About the company:
Established in 1978, Marine Electricals (India) Limited is engaged in the business of manufacturing and sale of all types of marine and industrial electrical & electronic components like switchgear, control-gears etc. and is also engaged in the renewable energy sector specifically solar.
The company also provides services like designing, fabricating etc. for all types of electrical & electronic installations in India and abroad and undertakes annual maintenance contracts.
Marine Electricals is an integrated technical services provider in the fields of electrical automation, power electronics, information and communication technology solutions.
It manufactures and installs a complete range of slow and fast EV Chargers from 3.3 KW to 240 KW in addition to providing its in-house App Bijlify and charge point management system.
Written by Shivani Singh
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