The orders have been placed by Princeton Digital Group (India) Management Private Limited and Classic Electric.
Marine Electricals didn’t disclose the individual value of either order, but said their combined value stood at ₹398.81 crore.
The order from Princeton Digital Group India is to be completed over 18 months, while the Classic Electric order carries a shorter delivery timeline of six to eight months.
The Princeton Digital Group order is notable given the company’s focus on developing and operating data centres. Power distribution systems are a critical part of data-centre infrastructure, helping distribute electricity from the main supply to servers and other equipment across a facility.
For Marine Electricals, the order therefore adds to its exposure to the fast-growing data-centre infrastructure market alongside its other electrical and engineering businesses.
The company said none of its promoters or promoter-group entities has an interest in the entities awarding the contracts. The transactions also don’t qualify as related-party transactions.Marine Electricals said it was disclosing the orders as part of good corporate governance practices.
Shares of Marine Electricals were trading 2.75% lower at ₹395.60 on the NSE at 2:02 pm on Monday.
