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Marine Electricals (India) inks revenue sharing agreement with PMC

19 May 2023 Evaluate

As part of its push into the EV charging business, Marine Electricals (India) has entered into a Revenue Sharing Agreement with Pune Municipal Corporation (PMC) for supply, installation, testing, Commissioning, Operation, and Maintenance of EV charging stations at around 80 to 90 prominent designated locations within Pune municipal limits to provide charging facilities to the general public.

The Charging Stations shall be managed and maintained by Evigo Charge - (98.88% Subsidiary Company) on chargeable basis. The profit sharing shall be 50% between the Marine Electricals (India) and PMC. The term of this Agreement shall be for a period of 8 years. 

Marine Electricals is one of the leading players offering comprehensive electrical solutions to Marine Segment as well as other Industries.

Peers
Company Name CMP
Havells India 1305.85
Siemens 3706.55
Apar Inds 11474.15
ABB India 7029.95
Waaree Energies 3471.45
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