Marine Electricals receive orders of Rs40cr in first two months of FY22; stock dips 1.5%

MARINE has received Order of Rs3.5cr from Bluestar Limited for supply of Blockset panels for their project of Salcomp Manufacturing India, one of the leading manufacturers of Power supplies for Apple mobile and other electronics devices, the company said.

May 31, 2021 02:05 IST India Infoline News Service

News Newspaper Text
Marine Electricals (India) Limited said in the press note on Monday that it has announced an order intake of Rs40cr during the month of April & May 2021.

Commenting on Order Intake, Mr. Venkatesh Uchil, Chairman has commented, “We are very excited to receive an order from Bridge Datacenter, a leading Datacenter from Singapore. This order has further strengthened our leading position in Datacenter segment. We strive to build long term relationship with Bridge Datacenter to get repeat contracts going forward. The Order intake of Rs40cr in first two months of the financial year is quite encouraging given various restrictions in major parts of the country. 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. With orders in first two months, the total Order book of the Company stands at Rs441.3cr. Total Order book includes orders of Rs288.6cr. from Marine Segment and Rs152.7cr from Industrial segments,” Venkatesh Uchil said.

Some of the significant orders during this period are as follows:
  • MARINE has received total Order of Rs25.65cr from Bridge Datacenters (Mumbai) LLP for supply of Power Distribution Systems and MV Switch board package for Project Bytes. The said goods will be delivered in 7-8 months’ period.
  • MARINE has received Order of Rs3.5cr from Bluestar Limited for supply of Blockset panels for their project of Salcomp Manufacturing India, one of the leading manufacturers of Power supplies for Apple mobile and other electronics devices.
At around 2.34 pm, Marine Electricals (India) Limited was trading at Rs77.30 per piece, down Rs1.20 or 1.53% on the BSE.

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