MarketFriction

Marine Electricals (India) Ltd

NSE MARINE · Industrial Products
₹436.55 +1.63%
NSE close2026-10-01
52 week range150.86 - 450.00
Market cap₹6,133 Cr.
P/E94.3
Price band 20% Delivery 32.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales137147237138184194251167222210277259
Expenses127135217125163182228150196190246231
Operating Profit101120132111221726203228
OPM %7%8%9%10%12%6%9%10%12%10%11%11%
Other Income214324454424
Interest334344334484
Depreciation233344434445
Profit before tax771710168181522162224
Tax %30%23%28%27%21%40%27%25%26%24%17%26%
Net Profit55127135141217121918
EPS in Rs0.370.380.960.540.920.380.970.841.200.851.321.23
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales250272369400263251376443622767877969
Expenses229246337378240224344404570698782863
Operating Profit2126312222273239526994106
OPM %8%9%9%6%9%11%9%9%8%9%11%11%
Other Income223468457131514
Interest357811971012141920
Depreciation55551099810161516
Profit before tax14182313817192536527684
Tax %34%38%28%29%24%20%32%33%29%27%23%
Net Profit911169614131726385965
EPS in Rs1.071.191.750.750.461.051.061.351.952.794.174.60
Dividend Payout %0%0%0%0%0%19%0%0%10%11%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth13%28%26%22%
Compounded Profit Growth20%36%52%52%
Stock Price CAGR%64%96%104%
Return on Equity11%11%12%13%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital171717182525252525272828
Reserves36465878130126138150183224376465
Borrowings243240465756583766975589
Other Liabilities6654112212162176162162192268266309
Total Liabilities143149227354373383383373466616725890
Fixed Assets404356394353484966757599
CWIP0001414002061614
Investments000335333663
Other Assets104106171297313325331319396529627775
Total Assets143149227354373383383373466616725890
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1331-5323247-2-755-16
Cash from Investing Activity-16-231-11-19-28-21-95-17
Cash from Financing Activity2344-19-7-3131325237
Net Cash Flow-111-93-3-314124
Free Cash Flow-524-6123-237-24-3235-43
CFO/OP74%118%-205%111%18%167%13%4%106%6%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days91104148182174235252167186186157178
Inventory Days472973616414616610271725250
Days Payable9478168209154292267159161167129135
Cash Conversion Cycle43555233849015211096918093
Working Capital Days49677616871211571089579129104
ROCE %23%20%21%22%12%9%12%12%14%15%16%18%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.84%72.87%71.98%71.17%71.17%68.45%68.45%68.45%68.46%68.54%68.20%68.20%
FIIs0.00%0.00%0.02%0.15%0.25%0.96%0.15%0.08%0.18%0.65%0.59%1.12%
DIIs0.00%0.00%0.00%0.11%0.08%0.04%0.04%0.07%0.12%0.12%0.34%0.41%
Public26.16%27.12%27.99%28.56%28.50%30.56%31.35%31.40%31.24%30.69%30.87%30.27%
No. of Shareholders51,59449,30550,30455,98383,79989,62893,62996,33294,68889,67989,03086,580

Fundamentals

Market Cap₹ 6,133 Cr.
Current Price₹ 438
Stock P/E94.3
Book Value₹ 35.2
ROCE18.2 %
ROE13.2 %
Dividend Yield0.07 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)22%
Compounded Profit Growth (TTM)52%
Consolidated figures.
Valuation
Market capRs 6,109 Cr
Enterprise valueRs 6,050 Cr
P/E (TTM)95.43x
Price to book12.39x
Price to sales6.30x
EV / EBITDA50.43x
EV / EBIT58.17x
EV / sales6.24x
Earnings yield1.05%
P/E, 3-year average51.28x
P/B, 3-year average5.07x
P/E, 5-year average39.59x
P/B, 5-year average3.62x
Profitability
Operating margin (excl. other income)10.77%
Operating margin (incl. other income)12.49%
EBITDA margin12.38%
Pre-tax margin8.67%
Net profit margin6.61%
Net margin, latest quarter6.66%
ROE13.02%
ROCE18.22%
ROA7.23%
ROE, 3-year average12.02%
ROCE, 3-year average16.79%
ROA, 3-year average5.92%
ROE, 5-year average10.52%
ROCE, 5-year average15.43%
ROA, 5-year average5.05%
ROIC (approx.)18.57%
Tax rate22.61%
Other income / net worth3.06%
Growth
Sales growth (latest year)14.32%
Profit growth (latest year)51.89%
Sales CAGR, 3 years25.58%
Sales CAGR, 5 years28.40%
Profit CAGR, 3 years50.86%
Profit CAGR, 5 years35.24%
Sales growth QoQ-6.60%
Profit growth QoQ-6.55%
Sales growth YoY (latest quarter)55.20%
Profit growth YoY (latest quarter)48.75%
Per share
EPS (TTM)Rs 4.57
EPS (latest quarter)Rs 1.23
EPS, 3-year averageRs 2.37
EPS, 5-year averageRs 1.79
Book value per shareRs 35.22
Sales per shareRs 69.25
Cash flow per shareRs -1.15
Free cash flow per shareRs -3.07
Dividend per share, 3-year averageRs 0.25
Dividend per share, 5-year averageRs 0.25
Dividends
Dividend payout, 3-year average10.50%
Dividend payout, 5-year average10.50%
Efficiency
Asset turnover0.98x
Fixed asset turnover8.89x
Inventory turnover7.27x
Inventory days50 days
Debtor days178 days
Debtors turnover2.05x
Creditor days135 days
Cash conversion cycle93 days
Working capital days104 days
Leverage
Total debtRs 89 Cr
Cash and bankRs 148 Cr
Net debtRs -59 Cr
Debt to equity0.18x
Net debt / EBITDA-0.50x
Interest coverage5.20x
Current ratio (filing 2026-03-31)2.12x
Quick ratio (filing 2026-03-31)1.88x
Trade payables (filing 2026-03-31)Rs 229 Cr
Owners' fund to total sources55.36%
Debt to assets9.95%
Cash flow
Cash from Operating Activity (latest year)Rs -16 Cr
Cash from Investing Activity (latest year)Rs -17 Cr
Cash from Financing Activity (latest year)Rs 37 Cr
Net Cash Flow (latest year)Rs 4 Cr
Free cash flow (latest year)Rs -43 Cr
FCFE (approx.: FCF + change in debt)Rs -10 Cr
Cash from ops / profit, 5 years0.50x
Statement figures
Net sales (TTM)Rs 969 Cr
Net sales (latest year)Rs 877 Cr
Sales (latest quarter)Rs 259 Cr
Operating profit excl. other income (latest year)Rs 94 Cr
Operating profit (latest quarter)Rs 28 Cr
Other income (TTM)Rs 14 Cr
EBITDA (TTM)Rs 120 Cr
PBDT (TTM)Rs 100 Cr
Profit before tax (TTM)Rs 84 Cr
Tax (latest year)Rs 17 Cr
Net profit (TTM)Rs 64 Cr
Net profit (latest year)Rs 58 Cr
Net profit (latest quarter)Rs 17 Cr
Depreciation (TTM)Rs 16 Cr
Depreciation (latest quarter)Rs 5 Cr
Interest (TTM)Rs 20 Cr
Cost of goods sold (latest year)Rs 619 Cr
Total expenditure (latest year)Rs 782 Cr
Total income (latest year)Rs 892 Cr
Share capitalRs 28 Cr
ReservesRs 465 Cr
Shareholders' fundsRs 493 Cr
Total assetsRs 890 Cr
Net blockRs 99 Cr
Capital work in progressRs 14 Cr
InvestmentsRs 3 Cr
ReceivablesRs 428 Cr
InventoryRs 85 Cr
Other liabilitiesRs 309 Cr
Shares outstanding (crore)13.99
Ownership
Promoter holding68.20% (-0.25 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 94.1 is at the 85th percentile of its own 8.1-year range (median 52.1, low 13.9, high 190.1).
P/B 12.22 is at the 95th percentile (median 3.84).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMARINENifty 50Difference
1 week+8.7%-2.8% +11.5 pts
1 month+0.9%-6.8% +7.7 pts
3 months+55.7%-7.6% +63.4 pts
6 months+187.8%+0.4% +187.4 pts
1 year+101.3%-9.9% +111.2 pts
2 years+91.9%-13.6% +105.5 pts
3 years+652.0%+14.2% +637.8 pts
5 years+1083.1%+27.9% +1055.2 pts

Red flags

F-score 3 of 8
explainWeak cash conversion Cash from operations was 26% of net profit over the last 3 years
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹259 Cr +55.1% vs Jun 2025. Net profit ₹18 Cr +50.0%.
Against our estimate for Jun 2026: sales +41.9%, profit +40.4% big beat. Our estimate for Sep 2026: sales Rs 295 Cr, profit Rs 20 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Re 0.30 Per Share
2025-09-12Dividend - Rs 0.30 Per Share
2024-09-20Dividend - Re 0.2 Per Share
2023-09-18Annual General Meeting
2022-09-09Annual General Meeting
2021-09-20 Annual General Meeting/Dividend - Rs 0.20 Per Share
2021-02-18 Face Value Split (Sub-Division) - From Rs 10 Per Share To Rs 2 Per Share0.2000
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-28Order winBagging/Receiving of orders/contracts
2026-09-23Concall / analyst meetSchedule of meet
2026-09-22General UpdatesGeneral Updates
2026-09-22General UpdatesGeneral Updates
2026-09-21General UpdatesGeneral Updates Press Release Summary Capacity Expansion and New Plant at Goa
2026-09-15General UpdatesGeneral Updates
2026-09-07Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-06Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-06Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-05UpdatesBusiness Responsibility and Sustainability Reporting FY 2025-26.
2026-09-05Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-04Order winBagging/Receiving of orders/contracts
2026-09-01Order winBagging/Receiving of orders/contracts
2026-08-31Order winBagging/Receiving of orders/contracts
2026-08-17Press ReleaseA press release dated August 17, 2026, titled "Press Release for Financial Results for the Quarter Ended 30th June 2026".
2026-08-14Monitoring Agency ReportMonitoring Agency Report for the Quarter Ended June 30, 2026
2026-08-14Record DateRecord date for the purpose of Dividend is 11-Sep-2026.
2026-08-14Board meeting outcomeMarine Electricals (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-12General UpdatesReconstitution the Audit Committee
2026-08-11AppointmentAppointment of MR. SHANMUGAM NAGARAJAN as Non- Executive Independent Director of the company w.e.f. August 10, 2026.
2026-08-11Price movementSignificant movement in price has been observed in Marine Electricals (India) Limited. The Exchange, in order to ensure that investors have latest rel...
2026-08-10Price movementSignificant movement in price has been observed in Marine Electricals (India) Limited. The Exchange, in order to ensure that investors have latest rel...
2026-07-28Order winBagging/Receiving of orders/contracts
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Close to Close price movement greater than 50perc in previous 3 monthsClose to Close price movement greater than 75perc in previous 6 monthsHigh low price variation greater than 75perc in previous 3 monthsScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Marine Electricals (India) Ltd?

Marine Electricals (India) Ltd (MARINE) has a market capitalisation of Rs 6,133 Cr. at the 2026-10-01 close.

What is the P/E ratio of Marine Electricals (India) Ltd?

Marine Electricals (India) Ltd trades at a P/E of 94.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Marine Electricals (India) Ltd's latest quarterly results?

In the Jun 2026 quarter, Marine Electricals (India) Ltd sales was Rs 259 Cr (+55.1% vs Jun 2025) and net profit was Rs 18 Cr.

What is the 52-week high and low of Marine Electricals (India) Ltd?

The 52-week high is Rs 450.00 and the 52-week low is Rs 150.86.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03