Marine Electricals' Order Book Surges 139% to Rs. 12,546 Million in FY26; Data Centres, Defence and EV Mobility to Drive Growth

Marine Electricals' Order Book Surges 139% to Rs. 12,546 Million in FY26; Data Centres, Defence and EV Mobility to Drive Growth

Company Reports 28.9% Growth in Net Profit to Rs. 528.70 Million; Chairman Vinay Uchil Highlights Opportunities in India's Expanding Infrastructure, Power Distribution and Maritime Sectors

The Electrical Post 

Marine Electricals (India) Limited delivered a strong performance during FY 2025–26, supported by a significant expansion in its order book, improved profitability and growing opportunities across defence and marine, digital infrastructure, power distribution, automation and electric mobility. The company's order book reached approximately Rs. 12,546 million at the end of FY 2025–26, compared with Rs. 5,240 million in the previous financial year, registering a substantial year-on-year increase of nearly 139%.

In his annual address to shareholders, Mr. Vinay Uchil, Chairman and Executive Director of Marine Electricals (India) Limited, highlighted the company's resilience amid global economic uncertainties, geopolitical tensions, changing tariff regimes and supply chain disruptions. He noted that rapid advances in Artificial Intelligence (AI) continued to accelerate innovation and transform businesses across industries, creating new opportunities for productivity, efficiency and growth. However, geopolitical developments, including the conflict in West Asia, and evolving global tariff regimes contributed to an increasingly complex operating environment.

Despite these challenges, Marine Electricals maintained its growth momentum through disciplined execution, operational agility, strong customer relationships and a clear focus on strategic priorities. The company continued to strengthen its capabilities, pursue emerging opportunities and build a foundation for sustainable, long-term growth.

The company's standalone financial performance remained encouraging during the year. Revenue increased to Rs. 7,469.37 million in FY 2025–26 from Rs. 7,005.84 million in FY 2024–25. Net profit registered a growth of 28.9%, reaching Rs. 528.70 million compared with Rs. 410.23 million in the previous financial year.

Mr. Uchil attributed the substantial increase in the order book to growing customer confidence in the company's capabilities, comprehensive product portfolio and execution track record. With continued portfolio expansion and its ability to offer a broader range of solutions, Marine Electricals anticipates further strengthening its order book during FY 2026–27.

Looking ahead, the company remains focused on research and development, indigenisation, innovation and fiscal discipline. These priorities are expected to support its growth trajectory, strengthen its order book and enable it to deliver value across business segments.

Mr. Uchil expressed confidence in India's growth environment, highlighting the country's favourable demographics, infrastructure development and economic reforms. He noted that Marine Electricals' businesses are closely aligned with India's broader economic priorities and policy initiatives. The government's focus on the power sector, expanding electrification and the transition towards clean energy is creating opportunities for companies operating in power distribution and automation.

The defence and marine segment continues to be an important pillar of Marine Electricals' business, with the Indian Navy remaining one of its most valued customers. The government's Make in India initiative has accelerated indigenisation in shipbuilding, while India's vision of developing a 200-ship combat fleet by 2035 is expected to support significant expansion in naval capabilities.

The Shipbuilding Financial Assistance Policy (SBFAP), aimed at positioning India among the world's top five shipbuilding nations by 2047, is another important development for the sector. Through direct financial assistance and subsidies, the policy seeks to offset operational cost disadvantages for Indian shipyards and improve their competitiveness in securing contracts.

Marine Electricals is well-positioned to address the growing requirements of the defence and maritime sectors through its portfolio of Integrated Bridge Systems, NAVCOM solutions, power generation and distribution systems, integrated monitoring and control systems, electric and battery-powered propulsion solutions, and integrated communication and data distribution systems. These offerings are expected to strengthen the company's role in supporting India's maritime ambitions.

Digital infrastructure and data centres represent another significant growth opportunity. Increasing data consumption and accelerating cloud adoption are driving demand for data-centre infrastructure across India. According to Mr. Uchil, India's data-centre footprint, which stood at approximately 16 million sq. ft. in 2025, is expected to expand to around 55 million sq. ft. over the next five to six years.

The government's decision to accord infrastructure status to data centres and its data localisation policy, which aims to retain 75% of data within the country, are further supporting the sector's development.

Marine Electricals' Industry segment currently accounts for approximately 65% of its order backlog, with data centres and industrial infrastructure contributing to its increasing exposure to India's digitalisation and infrastructure growth. The company has established itself as a preferred partner for leading operators in this sector, providing critical power solutions that support the reliable functioning of large-scale data centres. Mr. Uchil expects this opportunity to deepen further as India's digital ecosystem expands.

Electric mobility is also emerging as an important area of opportunity for the company. Rising fuel costs, climate-related priorities and government subsidies are accelerating electric vehicle adoption. Through its subsidiary, Evigo Charge Pvt. Ltd., Marine Electricals is developing next-generation charging solutions for residential applications, workplaces, fleets and electric buses. The company is also exploring opportunities in the two- and three-wheeler charging segments.

During FY 2025–26, Evigo Charge established new collaborations with government agencies and private-sector players to expand the reach of its EV ecosystem. These initiatives are aimed at strengthening the company's presence across multiple electric mobility applications and supporting India's transition towards cleaner transportation.

Marine Electricals is also investing in maritime domain awareness solutions, focusing on coastal surveillance, port management and vessel traffic systems. With safety, security and operational efficiency becoming increasingly important priorities in maritime operations, these solutions are expected to support safer and more efficient port and vessel operations. Mr. Uchil expects this business segment to become a strong contributor to the company's growth in the coming years.

Marine Electricals' performance during FY 2025–26 reflects its growing business scale and expanding opportunities across multiple infrastructure-driven sectors. With its order book increasing nearly 139%, alongside improvements in revenue and profitability, the company is looking to capitalise on India's expanding requirements in power infrastructure, naval modernisation, data centres, industrial development and electric mobility. Its continued emphasis on R&D, indigenisation, innovation and financial discipline will remain central to its strategy for sustainable growth.
 

Published at : Nov 10, 2026 09:42 AM (IST)

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