Marine Electricals India shed 1% despite strong Q4 result, board recommends dividend

PAT stands at Rs13.5cr in FY21, Y-o-Y growth of 130%.

Jun 08, 2021 12:06 IST India Infoline News Service

Marine Electricals (I) Limited, an integrated technical solution provider in the field of electrical automation has announced result for the Quarter & Year ended March, 2021. The key highlights of the result is as under:
  • Consolidated Income of Rs259cr in FY21; EBITDA of Rs35cr with an EBITDA margin of 13.5% in FY21. PAT stands at Rs13.5cr in FY21, Y-o-Y growth of 130%.
  • Consolidated Revenue from Electrical Segment is Rs233cr and EBIT of Rs23.6cr, YoY growth of 10% while Revenue from Solar Segment is Rs17.9cr and EBIT loss of Rs4.9cr.
  • Board has recommended maiden dividend of 10% of Face Value (Rs0.20 per equity share) for the FY 2021
Commenting on financial performance, Vinay Uchil, Chairman & Executive Director commented, “We are very delighted to announce our maiden Dividend in unprecedented challenging year. Our financial performance reflects improvement in operating margin in electrical business.

Despite all challenges we faced in last year, we are happy that we have completed the NLC Solar Project and commissioned the same. We have taken strategic decision to focus on our Electrical business which is providing significant opportunity in Marine as well as Industrial Segment.

The Indian shipyards have seen strong traction in last few years in terms of order intake and with the renewed thrust of the Government, order inflows for shipyards expected to be quite strong for construction of new vessels in next few yeaRsAs an approved vendor and Tier-I supplier with in the Marine electrical ecosystem, this augurs well for MEL as it provides strong visibility of orders with progress of ship constructions at shipyards.

With current orderbook and robust outlook for potential orders, MEL is well placed to drive strong Revenue and profitability growth on the back of the Marine segment. We are witnessing increasing momentum in inquiries post the Government push for ‘Make in India’ program. We believe this momentum will further pick up with large corporates and MNCs commence putting up their facilities in India. We are quite excited about Industrial Business Segment and we are ready to capture the increasing demand going forward."

At around 12:53 PM, Marine Electricals was trading at Rs77.10 apiece down by 0.84% on the NSE.

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