Marine Electricals (India) Limited has informed the Exchange about Bagging/Receiving of orders/contracts

Order Above 5pct RevenueBusiness Updates View source PDF

MARINE · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Marine Electricals (India) Limited has announced receiving orders totaling Rs. 96.40 crores (excluding taxes) from Princeton Digital Group (India) Management Private Limited. The orders are for the supply of power distribution systems. The delivery timeline is 12-14 months. The company clarified that no promoters or promoter group have any interest in the transaction, and it does not qualify as a related party transaction. The disclosure is being made under Regulation 30 of SEBI LODR Regulations for good corporate governance.

Likely market impact

This is a positive development as the Rs. 96.40 crore order represents significant new business for the company, likely exceeding 5% of annual revenue given the order size. The 12-14 month delivery timeline will provide revenue visibility over the next fiscal year.