Marine Electricals (India) was locked in an upper circuit of 5% at Rs 104 after it received orders amounting to Rs 104.25 crore from TATA Projects and Fleet Maintenance Unit (FMU).
The order received from Tata Projects is for LT Panel (sub panel, PCC panel and hookup panel) for micron technology (project pioneer), Sanand. The delivery shall be over a period of 6 months.The company had also won order from Fleet Maintenance Unit (FMU), Vishakapatnam for AIAMC. The delivery shall be over a period of 24 months.
The aggregate amount for the orders stood at Rs 104.25 crore.
Marine Electricals provides customised electrical solutions to the marine and non-marine sectors. Its head office is in Mumbai, with manufacturing facilities in Mumbai and Goa.
Marine Electricals reported 31.8% decrease in consolidated net profit to Rs 4.98 crore despite of 15.7% rise in revenue from operations to Rs 146.65 crore in Q3 FY24 over Q3 FY23.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
