Defence stock in focus after receiving ₹8.56 Cr export order for supply of HT panels

One of the small-cap defence stocks engaged in integrated technical services providers in the fields of electrical automation and information and communication technology solutions. The stock is in focus after receiving an export order worth Rs. 8.56 crore from Société Minière de DASA SA for the supply of HT panels 

Stock Price Movements: 

With a market capitalization of Rs. 3,976.94 crore, the shares of Marine Electricals (India) Limited were trading at Rs. 288.30 per equity share, down nearly around 3.24 percent from its previous day’s close price of Rs. 297.95. 

What Happened: 

Marine Electricals (India) Limited has secured an export order worth USD 10,07,009 (approx. INR 8.56 crores) from Société Minière de DASA SA, Niger, West Africa, for the supply of HT panels. The delivery is scheduled to be completed over a period of nine months. 

Product and Services: 

Marine Electricals delivers a wide range of products and services, including marine-specific electrical components like switches, circuit breakers, and transformers. 

The company designs advanced automation systems such as control panels and SCADA, retrofits and upgrades ship electrical systems, and provides expert training and consultancy in marine electrical engineering. 

Order Book: 

Marine Electricals (India) Limited has achieved significant growth, with its consolidated order book rising from Rs. 356 Cr in FY22 to Rs. 600 Cr in FY24, driving a 65% revenue increase. The FY24 standalone order book stands at Rs. 497 Cr, comprising 59% marine and 41% industrial sectors. 

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Manufacturing Facilities: 

Marine Electricals (India) Limited operates a robust network with 14 service centers along India’s coastal locations and 18 sales and representative offices across India and the Middle East. Its manufacturing capabilities include 8 plants across Goa, Mumbai, Chennai, UAE, and Italy, covering a total area of 3 lakh sq. ft. 

Recent quarter results and ratios: 

Marine Electricals (India) Limited’s revenue has increased from Rs. 137 crore in Q2 FY24 to Rs. 184 crore in Q2 FY25, which has grown by 34.31 percent. The net profit of Marine

Electricals (India) Limited has also grown by 260 percent, from Rs. 5 crore in Q2 FY24 to Rs. 13 crore in Q2 FY25. Marine Electricals (India) Limited’s revenue and net profit have grown at a CAGR of 24.01 percent and 44.28 percent, respectively, over the last four years. 

In terms of return ratios, the company’s ROCE and ROE should be 15.4 percent and 11.2 percent, respectively. The debt-to-equity ratio of the company is to be 0.23x, which shows the company is almost debt-free. Marine Electricals (India) Limited’s EPS is to be Rs. 2.80. 

Company Overview: 

Marine Electricals (India) Limited was established in 1978 and is a leading integrated technical services provider specializing in electrical automation, power electronics, and ICT solutions. 

The company is headquartered in Mumbai and operates manufacturing facilities in Goa, Chennai, and the UAE, with expertise in marine applications and industrial solutions. 

Written By – Nikhil Naik 

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