Marine Electricals Secures Contracts Worth Rs 70.86 Crores from Major Clients
Marine Electricals (India) Limited has secured orders totaling approximately Rs 70.86 crores, excluding taxes. The contracts involve the supply of various electrical components and systems to two distinct clients, with the execution period spanning from several months to over a year.The company confirmed receiving two significant orders: one from Princeton Digital Group (India) Management Private Limited and another from C Torq Marine Services L.L.C.
The details of the new contracts are as follows:
| Client Name | Product Supplied | Estimated Delivery Period |
|---|---|---|
| Princeton Digital Group (India) Management Private Limited | Power distribution system | 7 to 9 months |
| C Torq Marine Services L.L.C | Panels | 21 months |
Regarding the operational structure of these agreements, Marine Electricals noted that the order received from Princeton Digital Group (India) Management Private Limited does not involve any interest from the Promoter or Promoter Group, meaning the contract does not fall under related party transaction guidelines.
In contrast, the company stated that the order secured from C Torq Marine Services L.L.C has been classified as a related party transaction.
MARINE Stock Price Movement
Today, Marine Electricals (India) Limited shares edged higher to settle at ₹230.00, gaining 2.34% in today's session. The stock saw robust trading activity, supported by a total volume of 453,198 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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