Sealmatic India has entered into a partnership with PSS Group in Thailand for repair, refurbishment services, and engineering applications support centre for mechanical seals in Thailand to services to customers in the oil and gas, petrochemical, power, water, desalination, chemical, and other industries.
Building on the PSS partnership and its existing local pump servicing capabilities, this specialist facility will provide maintenance and repair services for all types of mechanical seals. This latest partnership will help customers in the region to optimize the performance and reliability of their rotary equipment.
Recently, the company also won a major contract to supply high-critical mechanical seals for 52 pumps in the FCCU, VBU, and BBU units of the Indian Oil Corporation (IOCL) in Mathura. Sealmatic has designed custom solutions to meet the demanding operating conditions of these pumps, with a focus on safety and cost-effectiveness. This installation will create a recurring and profitable spare parts business for Sealmatic over the lifetime of the equipment.
Sealmatic India is engaged in the business of designing and manufacturing mechanical seals and associated products. Mechanical seals are mainly used in Oil & Gas, refinery, petrochemical, chemical, pharmaceutical, fertilizer, power, mining, pulp & paper, aerospace, marine, and other industries.
Today, the stock opened at Rs 617.95, with a high and low of Rs 629.95 and Rs 605.00. The stock is currently trading at Rs 605, down by 1.63%. The stock has a 52-week high of Rs 669 and a 52-week low of Rs 200. The company has a ROCE of 26.6% and an ROE of 20.1% with a market capitalisation of Rs 548 crore.
In the last six months, the shares of the company have given about 150% returns, and investors should keep a close eye on this stock.
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