- 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
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.