Marine Electricals gains on bagging Rs 35-cr supply contract from AdaniConnex

Marine Electricals (India) advanced 1.06% to Rs 33.25 after the company bagged an order worth Rs 35 crore from AdaniConnex.

The contract is for the supply & installation of LV panel & skid at AdaniConnex's Hyderabad site. The delivery of the said goods shall be made over a period of six months, the company added.

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.

The company reported 23.10% decline in net profit to Rs 2.93 crore on a 15.86% fall in sales to Rs 90.36 crore in Q2 FY23 over Q2 FY22.

 

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