Mumbai, January 31, 2025 – Marine Electricals (India) Limited (NSE: MARINE, ISIN: INE01JE01028) has secured a ₹37.92 crore (excluding taxes) contract from DC Development Noida Ltd for the design, manufacture, and supply of a Low Voltage (LV) skid system. The project is set to be delivered over a 10-month period, further strengthening the company’s order book and market presence in the electrical solutions sector.
Order Details and Strategic Significance
The contract underscores Marine Electricals’ expertise in delivering high-quality electrical infrastructure solutions, reinforcing its position as a key player in the industry. The deal also highlights the company’s ability to secure large-scale projects from prominent clients, supporting its long-term growth trajectory.Corporate Governance and Regulatory Compliance
In line with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company confirmed that neither the Promoter nor the Promoter Group holds any interest in the contract. Additionally, the transaction does not fall within the scope of related party transactions, reinforcing Marine Electricals’ commitment to corporate governance and transparency.Market Implications and Future Outlook
This order adds momentum to Marine Electricals’ expanding portfolio, reflecting its strong execution capabilities and robust demand for its solutions. Investors may view this development favorably as the company continues to secure high-value contracts, enhancing its revenue visibility and growth prospects in the sector.Official Statement
"We are pleased to announce this significant order, which strengthens our position as a trusted provider of advanced electrical solutions. This contract aligns with our growth strategy and commitment to delivering top-tier engineering excellence," said Deep Shah, Company Secretary & Compliance Officer, Marine Electricals (India) Limited.With this latest contract win, Marine Electricals continues to build on its strong market reputation, reinforcing confidence among stakeholders and investors.