Marshall Machines Ltd (MARSHALL) share price, results

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

Standalone, Rs crore

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Revenue from operations	12.50	9.29	24.38	6.79	8.40	7.14	12.18	10.66	1.79	9.99	5.52	9.14
Operating costs	11.81	10.00	18.98	7.69	7.93	7.33	12.97	9.40	2.74	8.40	6.28	9.58
EBITDA	0.69	-0.71	5.40	-0.90	0.47	-0.19	-0.79	1.26	-0.95	1.59	-0.76	-0.44
EBITDA margin %	5.52%	-7.64%	22.15%	-13.25%	5.60%	-2.66%	-6.49%	11.82%	-53.07%	15.92%	-13.77%	-4.81%
Depreciation & amortisation	1.62	1.62	1.43	1.58	1.44	1.44	1.42	1.23	1.25	1.25	1.20	1.11
Finance costs	1.08	1.31	1.12	1.00	1.08	1.07	1.27	1.25	1.36	0.90	0.31	0.73
Non-operating income	0.03	0.03	0.04	0.08	1.13	1.28	0.01	0.02	0.05	0.00	0.37	0.04
Pre-tax profit	-1.98	-3.61	2.89	-3.40	-0.92	-1.42	-3.47	-1.20	-3.51	-0.56	-1.90	-2.24
Effective tax rate %	-28.28%	-14.40%	25.26%	-25.59%	-25.00%	-25.35%	-23.92%	-13.33%	-25.07%	-23.21%	-31.58%	-34.82%
Profit after tax	-1.42	-3.08	2.16	-2.52	-0.69	-1.06	-2.64	-1.03	-2.63	-0.43	-1.31	-1.46
Earnings per share (Rs)	-0.57	-1.25	0.87	-1.02	-0.28	-0.43	-1.07	-0.42	-1.10	-0.18	-0.55	-0.61

	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Revenue from operations	41.67	29.99	43.80	50.18	59.35	65.23	59.56	66.83	60.33	34.50	27.93	26.44
Operating costs	40.33	28.36	38.33	44.02	46.54	50.02	43.74	57.42	53.44	35.91	26.78	27.00
EBITDA	1.34	1.63	5.47	6.16	12.81	15.21	15.82	9.41	6.89	-1.41	1.15	-0.56
EBITDA margin %	3.22%	5.44%	12.49%	12.28%	21.58%	23.32%	26.56%	14.08%	11.42%	-4.09%	4.12%	-2.12%
Depreciation & amortisation	0.00	0.00	1.23	1.60	2.20	3.73	8.10	5.12	6.27	5.87	4.94	4.81
Finance costs	0.00	0.00	3.62	3.11	3.22	3.71	4.40	3.81	4.46	4.41	3.83	3.30
Non-operating income	0.00	0.00	0.11	0.35	0.07	0.23	0.80	0.11	0.14	2.50	0.44	0.46
Pre-tax profit	1.34	1.63	0.73	1.80	7.46	8.00	4.12	0.59	-3.70	-9.19	-7.18	-8.21
Effective tax rate %	0.00%	0.00%	43.84%	38.33%	32.98%	27.88%	27.91%	37.29%	-15.14%	-24.92%	-24.65%
Profit after tax	1.34	1.63	0.42	1.10	5.01	5.77	2.97	0.36	-3.14	-6.90	-5.40	-5.83
Earnings per share (Rs)	4.32	5.26	1.35	3.55	13.92	2.34	1.20	0.15	-1.27	-2.79	-2.26	-2.44
Paid out as dividend %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

	10 Years	5 Years	3 Years	TTM	1 Year	Last Year
Revenue CAGR	%	-16%	-25%	-31%
Profit CAGR	%	%	%	-8%
Share price CAGR	%	-33%	-60%		-31%
Average return on equity	%	-5%	-10%			-9%

	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net block (property, plant)	5.50	8.74	10.32	11.47	14.99	22.79	46.39	38.80	68.29	62.48	57.49	60.46
Capital work in progress	2.19	0.76	2.97	1.01	1.01	0.00	0.00	14.11	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Current & other assets	18.36	24.21	33.17	46.91	49.03	56.86	61.38	68.21	64.49	72.86	83.80	95.86
Total assets	26.05	33.71	46.46	59.39	65.03	79.65	107.77	121.12	132.78	135.34	141.29	156.32
Share capital	1.41	1.81	1.81	1.81	1.81	2.14	14.55	14.55	14.55	14.55	14.55	23.90
Reserves & surplus	3.33	4.89	6.53	6.94	8.05	15.69	23.96	26.72	34.50	31.43	24.98	52.12
Total debt	11.72	17.18	24.68	26.06	23.85	28.92	34.20	36.65	40.63	40.18	45.25	38.40
Other liabilities & provisions	9.59	9.83	13.44	24.58	31.32	32.90	35.06	43.20	43.10	49.18	56.51	41.90
Equity + liabilities	26.05	33.71	46.46	59.39	65.03	79.65	107.77	121.12	132.78	135.34	141.29	156.32

	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Operating cash flow	0.00	0.00	0.00	7.08	10.87	5.19	13.60	11.79	11.34	4.78	-0.33	-12.48
Investing cash flow	0.00	0.00	0.00	-1.05	-5.09	-8.92	-27.26	-14.51	-10.36	-0.37	-0.33	-18.66
Free cash flow (after capex)	0.00	0.00	0.00	6.01	5.74	-3.79	-13.73	-2.83	0.87	4.32	-0.73	-31.21
Financing cash flow	0.00	0.00	0.00	-5.40	-5.17	5.06	13.95	3.00	-1.76	-4.77	0.70	31.25
Net change in cash	0.00	0.00	0.00	0.63	0.61	1.32	0.29	0.29	-0.78	-0.37	0.04	0.11
Cash conversion (OCF / EBITDA) %	0%	0%	0%	136%	185%	37%	76%	65%	121%	71%	21%	-1,021%

	Mar 2011	Mar 2012	Mar 2013	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Return on capital employed %		6.64%	5.73%		14.33%	26.55%	19.49%	11.31%	5.24%	0.86%	-5.59%	-3.39%
Receivable days	19.12	21.20	38.95	39.33	59.86	70.23	69.11	86.04	63.79	108.90	300.46	461.05
Inventory days				450.40	394.66	312.88	374.48	555.08	378.47	485.35	667.09	818.80
Payable days				167.69	197.60	150.23	150.88	241.72	166.27	239.74	505.12	645.43
Cash cycle (days)	19.12	21.20	38.95	322.04	256.92	232.88	292.70	399.40	276.00	354.51	462.44	634.42
Working capital days	83.11	115.89	207.88	40.58	6.40	6.46	13.43	19.18	-7.26	6.84	20.21	373.63

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter group %	67.55%	66.99%	66.99%	60.00%	60.00%	52.01%	52.01%	47.34%	28.89%	28.89%	28.89%	28.89%
Foreign investors %	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Retail & others %	32.46%	33.02%	33.01%	40.00%	40.00%	47.99%	47.99%	52.66%	71.11%	71.11%	71.11%	71.11%
Shareholder count	4,074	3,952	4,205	5,864	5,616	5,267	4,506	5,080	6,201	7,593	7,357	7,919

Fundamentals

Market value₹ 8.70 Cr.

Last price₹ 3.64

Book value / share₹ 31.8

Return on capital-3.39 %

Return on equity-9.40 %

Dividend yield0.00 %

Face value₹ 10.0

Revenue CAGR (TTM)-31%

Profit CAGR (TTM)-8%

Standalone figures.

Valuation

Market capRs 9 Cr

Enterprise valueRs 47 Cr

Price to book0.11x

Price to sales0.33x

EV / sales1.77x

Earnings yield-67.01%

P/B, 3-year average1.06x

P/E, 5-year average23.19x

P/B, 5-year average0.75x

Profitability

Operating margin (excl. other income)4.12%

Operating margin (incl. other income)5.69%

EBITDA margin-0.38%

Pre-tax margin-31.05%

Net profit margin-22.05%

Net margin, latest quarter-15.97%

ROE-9.35%

ROCE-3.36%

ROA-3.63%

ROE, 3-year average-10.70%

ROCE, 3-year average-2.70%

ROA, 3-year average-3.65%

ROE, 5-year average-4.77%

ROCE, 5-year average1.69%

ROA, 5-year average-1.62%

ROIC (approx.)-3.25%

Tax rate24.65%

Other income / net worth0.58%

Growth

Sales growth (latest year)-19.04%

Sales CAGR, 3 years-25.23%

Sales CAGR, 5 years-15.60%

Sales growth QoQ65.58%

Sales growth YoY (latest quarter)-14.26%

Per share

EPS (TTM)Rs -2.44

EPS (latest year)Rs -2.26

EPS (latest quarter)Rs -0.61

EPS, 3-year averageRs -3.05

EPS, 5-year averageRs -1.37

Book value per shareRs 31.81

Sales per shareRs 11.06

Cash flow per shareRs -5.22

Efficiency

Asset turnover0.18x

Fixed asset turnover0.46x

Inventory turnover0.45x

Inventory days806 days

Debtor days461 days

Debtors turnover0.79x

Leverage

Total debtRs 38 Cr

Cash and bankRs 0 Cr

Net debtRs 38 Cr

Debt to equity0.51x

Interest coverage-1.49x

Owners' fund to total sources48.63%

Debt to assets24.57%

Cash flow

Operating cash flow (latest year)Rs -12 Cr

Investing cash flow (latest year)Rs -19 Cr

Financing cash flow (latest year)Rs 31 Cr

Net change in cash (latest year)Rs 0 Cr

Statement figures

Net sales (TTM)Rs 26 Cr

Net sales (latest year)Rs 28 Cr

Sales (latest quarter)Rs 9 Cr

Operating profit excl. other income (latest year)Rs 1 Cr

Operating profit (latest quarter)Rs -0 Cr

Other income (TTM)Rs 0 Cr

EBITDA (TTM)Rs -0 Cr

PBDT (TTM)Rs -3 Cr

Profit before tax (TTM)Rs -8 Cr

Tax (latest year)Rs -2 Cr

Net profit (TTM)Rs -6 Cr

Net profit (latest year)Rs -5 Cr

Net profit (latest quarter)Rs -1 Cr

Depreciation (TTM)Rs 5 Cr

Depreciation (latest quarter)Rs 1 Cr

Interest (TTM)Rs 3 Cr

Cost of goods sold (latest year)Rs 19 Cr

Total expenditure (latest year)Rs 27 Cr

Total income (latest year)Rs 28 Cr

Share capitalRs 24 Cr

ReservesRs 52 Cr

Shareholders' fundsRs 76 Cr

Total assetsRs 156 Cr

Net blockRs 60 Cr

ReceivablesRs 35 Cr

InventoryRs 43 Cr

Other liabilitiesRs 42 Cr

Shares outstanding (crore)2.39

Computed by MarketFriction from the standalone statements. Returns use average balances.

P/B 0.11 is the lowest in 7.3 years (median 1.37).

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.

Period	MARSHALL	Nifty 50	Difference
1 week	-10.1%	-2.8%	-7.3 pts
1 month	-54.4%	-6.8%	-47.7 pts
3 months	-72.8%	-7.6%	-65.2 pts
6 months	-82.7%	+0.4%	-83.1 pts
1 year	-90.1%	-9.9%	-80.2 pts
2 years	-94.4%	-13.6%	-80.9 pts
3 years	-86.3%	+14.2%	-100.5 pts
5 years	-70.0%	+27.9%	-97.9 pts

Red flags

F-score 4 of 8

explain	Receivables outrunning sales Receivables grew 24% vs sales -19% in 2024
look	Repeated losses Net loss in each of the last two 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 2024

Sales ₹9 Cr -14.3% vs Jun 2023. Net loss ₹1 Cr.

Activity

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No bulk or block deals on record.

Ex-date	Action	Factor
2024-08-30	Annual General Meeting
2023-09-28	Rights 7:10 @ Premium Rs 34.80/-
2023-09-22	Annual General Meeting
2022-09-23	Annual General Meeting

No announcements in our files yet.

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.

Order date	Forum	Case
2021-04-05	NCLT	Marposs India Pvt. Ltd. Vs Marshall Machines Ltd.
2021-03-05	NCLT	Marposs India Pvt. Ltd. Vs Marshall Machines Ltd.
2021-03-01	NCLT	Marposs India Pvt. Ltd. Vs Marshall Machines Ltd.
2021-02-12	NCLT	Rollmann Trading Company Vs Marshall Machines Ltd.
2021-01-27	NCLT	Rollmann Trading Company Vs Marshall Machines Ltd.

Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.

Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Marshall Machines Ltd?

Marshall Machines Ltd (MARSHALL) has a market capitalisation of Rs 8.70 Cr. at the 2025-12-29 close.

What were Marshall Machines Ltd's latest quarterly results?

In the Jun 2024 quarter, Marshall Machines Ltd sales was Rs 9 Cr (-14.3% vs Jun 2023) with a net loss of Rs 1 Cr.