Sealmatic India Ltd Share Price – BSE

Engineering, Small Cap

EcoTech is a Single source distributor for industrial solutions and process equipment, including pumps, valves, mechanical seals, automatic lubrication, gear boxes, etc. The company employs a team of technical solutions engineers dedicated to staying at the forefront of the process equipment markets. This includes expertise in mechanical seals, pumps and many other industrial rotary equipment. EcoTech’s service centers are capable of extensive repair and fabrication to meet the needs of customers in the United State of America (USA).

Sealmatic and EcoTech will offer superior quality sealing technology and will significantly add value to the convenience of users in the process industry such as oil & gas, refining, power, marine, pulp & paper, chemical, petrochemical etc.

As of 2022, the USA mechanical seal market was tagged at over $1.25 billion and is the largest market globally for advanced sealing technology.

Umar A K Balwa, managing director, Sealmatic, said: “Sealmatic has always raised the bar in terms of delivering quality sealing technology globally thus meeting the diverse and ever-growing needs of the end users and OEMs.

We are pleased to announce the partnership with EcoTech in USA, which is in line with our expansion strategy, strengthening our network throughout the USA. As we continue to expand our offerings across the USA, we look forward to enhancing our state-of-the-art products in addition to prioritizing safety and efficiency in the years ahead.”

Sealmatic India is engaged in the business of designing and manufacturing of mechanical seals and associated products. The company has a complete range of engineered mechanical seals and sealing support systems to cater the needs of customers located all across the globe.

The company had reported a net profit of Rs 6.59 crore and revenue of Rs 37.01 crore for the six month ended on 30 September 2023.

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Sealmatic India will hold a meeting of the Board of Directors of the Company on 10 November 2023.

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Sealmatic India has bagged an order for Rumaila Project (Iraq) which is managed by the Rumaila Operating Organization (ROO) – a Joint Venture between BOC, Basra Energy Company (BECL) and Oil Marketing Company (SOMO) to Supply 38 Critical Mechanical Seals & Seal Supply Systems as per API 682. The order has been placed by Flowserve India Controls.

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Sealmatic India has opened a sales & service center in Pune, Maharashtra. This center aims to support customers in various industries, including OEM, oil & gas, petrochemical, power generation, and mining. It will provide local expertise in application engineering, troubleshooting, failure analysis, and other services. Additionally, the center will act as a regional hub for supporting sales for OEMs in India and other strategic countries in Asia.

The facility will offer engineering, sales, and aftermarket support for Sealmatic mechanical seals, including service and repair, installation and commissioning support, onsite facility analysis and evaluation, and implementation support for improved efficiency and lower total cost of ownership. This development is seen as significant for both Sealmatic and the Pune region, as it will contribute to job creation and strengthen the industrial base in the area.

Sealmatic India is engaged in the business of designing and manufacturing of mechanical seals and associated products. Mechanical seals are mainly used in oil & gas, refinery, petrochemical, chemical, pharmaceutical, fertiliser, power, mining, pulp & paper, aerospace, marine and other industrial. The company manufactures customised seals to meet the requirement of the client. The company has a complete range of engineered mechanical seals and sealing support systems to cater the needs of customers located all across the globe. Sealmatic products are globally recognized as a trusted brand in process industry in over 45 countries, to name a few: USA, UK, Germany, Netherlands, Italy, Sweden, Norway, Switzerland, Denmark, Australia, France, Japan and many more countries.

The company recorded a total revenue of Rs 25.82 crore and net profit of Rs 5.43 crore for the period ended on 30 September 2022.

Shares of Sealmatic India fell 3.03% to Rs 582.55 on 22 August 2023.

The stock entered the bourses on 1 March 2023. It was listed at Rs 225, at par with the issue price of Rs 225. The stock is currently up 137% over its IPO price. The IPO of Sealmatic India was subscribed 16.61 times. The issue was open between 17th and 21st February 2023. The issue price band was Rs 220-225 per share.

The company intends to utilize the net proceeds from the issue for purchasing plant and machinery; product development; marketing and after sales support; general corporate purpose; provisions and contingency; and working capital requirement.

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