Marine Electricals (India) Limited — Board Meeting, 12-02-2025: Outcome of Board Meeting

The Board has approved several key actions: the unaudited standalone and consolidated financial results for the quarter and nine months ending December 31, 2024, show a revenue from operations of ₹184.91 crore and ₹1,198.04 crore respectively. The company will divest 50% of its equity investment in Athmar India Private Limited for ₹0.05 crore. Additionally, it will acquire 10% of Marks Marine Radio Private Limited for ₹0.50 crore, and increase its stake in Xanatech Synergies Private Limited to 100% with an investment of ₹0.0143 crore. The revised cost for proceeds from the preferential issue for working capital and acquisitions has also been adjusted to ₹146.33 crore.