Marine Electricals (India) Limited, a leading provider of integrated electrical solutions, has announced that it has secured a prestigious order worth ₹9.94 crore (excluding taxes) from Cochin Shipyard Limited (CSL) for the NGMV (Next Generation Missile Vessel) project. The delivery of this project is scheduled to be completed over a period of four years, ensuring the timely execution and supply of critical systems for Cochin Shipyard.

Order Details and Project Scope

The order from Cochin Shipyard is a testament to Marine Electricals' capability to deliver high-quality electrical solutions and services to India's maritime and defense sectors. The ₹9.94 crore contract is aimed at supplying critical electrical equipment and systems required for the NGMV project. The scope of work involves designing, manufacturing, testing, and supplying high-performance electrical components that meet stringent quality and performance standards.

Cochin Shipyard Limited (CSL), a leading shipbuilding and maintenance company in India, is responsible for constructing advanced vessels for the Indian Navy and other maritime projects. The NGMV project involves building Next Generation Missile Vessels that will enhance the country's maritime defense capabilities.

Delivery Timeline and Execution Plan

Marine Electricals will execute this project over a period of four years, ensuring meticulous planning, phased delivery, and adherence to quality benchmarks. The phased delivery schedule will allow for efficient management of resources and seamless integration of systems within the stipulated timelines.

The delivery timeline has been structured to align with Cochin Shipyard’s overall project schedule, ensuring that the necessary electrical systems are delivered and installed in line with the construction progress of the NGMV vessels. This systematic approach will help in maintaining the desired operational timelines and avoid any project delays.

Promoter and Related Party Disclosure

Marine Electricals has confirmed that none of the Promoter/Promoter Group entities have any interest in the order or project awarded by Cochin Shipyard. Furthermore, this contract does not fall under the ambit of related party transactions, ensuring that the transaction is conducted in a transparent and ethical manner.

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, emphasizing its commitment to maintaining high standards of corporate governance and transparency.

Importance of NGMV Project for India’s Defense Sector

The NGMV (Next Generation Missile Vessel) project is a strategic initiative aimed at enhancing India's maritime defense capabilities by deploying advanced vessels equipped with state-of-the-art missile systems. These vessels will play a crucial role in strengthening the country's naval defense architecture and ensuring maritime security.

Marine Electricals’ contribution to this project reflects its commitment to supporting India's defense infrastructure by providing high-quality electrical solutions that meet the stringent standards required for defense applications.

Marine Electricals’ Contribution to Defense and Maritime Sector

Marine Electricals has a proven track record of delivering high-performance electrical solutions to various sectors, including defense, marine, and industrial applications. The company’s expertise in marine electrical systems, automation, and control solutions has positioned it as a reliable partner for major defense and maritime projects in India.

Over the years, Marine Electricals has been a preferred supplier for major defense and shipbuilding companies, including Cochin Shipyard, Mazagon Dock Shipbuilders, and Garden Reach Shipbuilders & Engineers. The company’s continued association with leading maritime organizations highlights its technical expertise and consistent performance in delivering quality solutions.

Strategic Significance and Business Impact

The successful execution of this ₹9.94 crore order will not only strengthen Marine Electricals' relationship with Cochin Shipyard but also enhance its reputation as a trusted supplier in the defense and maritime sectors. This contract is expected to contribute significantly to the company’s revenue growth over the next four years, further cementing its position as a key player in the marine electrical solutions industry.

The order also aligns with Marine Electricals’ strategy to diversify its portfolio and increase its footprint in the defense sector. With India’s increasing focus on indigenous defense production and self-reliance (Aatmanirbhar Bharat), Marine Electricals is well-positioned to capitalize on future opportunities in this domain.

Commitment to Good Corporate Governance

Marine Electricals has emphasized that this order and contract fall outside the purview of related party transactions and that no promoter or promoter group has any interest in the said work. The company’s disclosure to the National Stock Exchange of India Limited (NSE) is part of its ongoing efforts to maintain transparency, regulatory compliance, and good corporate governance practices.

Future Prospects and Growth Opportunities

Marine Electricals’ continued focus on securing orders in the defense and maritime sectors bodes well for its long-term growth. The company is actively exploring opportunities to expand its capabilities and increase its presence in the defense, industrial, and marine sectors.

As India continues to modernize its naval and defense capabilities, Marine Electricals is expected to play a pivotal role by providing advanced electrical solutions that meet the requirements of mission-critical defense applications.

Conclusion

Marine Electricals’ recent ₹9.94 crore order from Cochin Shipyard Limited for the NGMV project highlights its continued success in securing high-value contracts in the defense and maritime sectors. The four-year project delivery timeline reflects the company's commitment to quality, efficiency, and adherence to project timelines. With a strong focus on corporate governance and transparency, Marine Electricals remains well-positioned to achieve sustainable growth and contribute to India’s defense modernization efforts.

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