Marine Electricals (India) has announced the acquisition of new orders totalling ₹16.90 crore, excluding taxes. The orders encompass a range of electrical equipment supplies to prominent infrastructure and shipyard companies.
The first order, from Afcons Infrastructure, involves the supply of a power distribution system. The delivery of these goods is scheduled over a period of six to eight months.
Another significant order comes from Knowledge Shipyard Private Limited, which requires the supply of switchboards and electrical equipment. The delivery for this order is expected to be completed within four to five months.
Additionally, Marine Electricals has secured an order from Udupi Cochin Shipyard Limited for the supply of a diesel generator. The delivery for this contract is projected to span 22 months.
The company clarified that none of the promoters or promoter group have any interest in these contracts, and they do not constitute related party transactions. This disclosure is part of Marine Electricals’ commitment to good corporate governance.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).