MarketFriction

Marsons Ltd

NSE MARSONS · BSE 517467 · Heavy Electrical Equipment
₹114.26 -1.02%
NSE close2026-10-01
52 week range100.25 - 175.40
Market cap₹2,028 Cr.
P/E45.9
Price band 20% Delivery 35.5%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1.800.653.7729.8838.5144.1755.8047.0359.8045.9492.2649.26
Expenses1.290.333.1724.8332.7040.0045.6739.7251.2339.0773.2442.03
Operating Profit0.510.320.605.055.814.1710.137.318.576.8719.027.23
OPM %28.33%49.23%15.92%16.90%15.09%9.44%18.15%15.54%14.33%14.95%20.62%14.68%
Other Income0.120.010.030.361.812.37-1.180.990.930.64-0.010.75
Interest-0.00-0.00-0.000.030.010.040.060.100.090.800.370.36
Depreciation0.170.180.180.140.140.18-0.090.170.220.230.140.24
Profit before tax0.460.150.455.247.476.328.988.039.196.4818.507.38
Tax %-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-0.00%-22.00%19.78%
Net Profit0.450.150.455.247.476.328.998.039.206.4822.585.93
EPS in Rs0.030.010.030.300.430.370.520.470.530.381.310.34
Mar 2016 9mMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales103100170-00256168245247
Expenses9097642011245143203206
Operating Profit133-47-19-1-1011254242
OPM %12%2.7%-283%-5,506%-176%0.6%23%18%15%17%17%
Other Income11-8-1-0-0060322
Interest81050-0003-0012
Depreciation325322111011
Profit before tax3-8-65-23-3-2-131284242
Tax %-21%22%-0%-8%-0%-0%-0%-0%-0%-0%-10%
Net Profit4-10-65-22-3-2-131284644
EPS in Rs1.66-3.98-25.90-8.63-0.24-0.18-0.100.260.041.632.692.56
Dividend Payout %-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%2%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%275%277%33%
Compounded Profit Growth27%87%160%43%
Stock Price CAGR24%66%173%-32%
Return on Equity%27%29%27%
Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital252525252512121212141717
Reserves2327-8-72-94-9-11-13-90105200
Borrowings677176868422232315931
Other Liabilities44102443723011662772
Total Liabilities16022613776382625232330152291
Fixed Assets333029242119171613131465
CWIP0-0000-0-0-0-0-0-025
Investments1037123-0-0-0-0-0-037-0
Other Assets1171589649177871017101200
Total Assets16022613776382625232330152291
Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-3274-71-13-000-4-352
Cash from Investing Activity-6-25-11-03-0-08-0-3812
Cash from Financing Activity8-3-45-2100-0-8474-4
Net Cash Flow-1-1-0-0-10-0-000110
Free Cash Flow-9304-71-11-008-4-37-0
CFO/OP-38%212%159%14%-4%2,089%86%3,400%10%-359%-131%1%
Jun 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days32137214490710,1267,8641,586756827148160
Inventory Days3013132002-0783910042111
Days Payable15953712719096530224071107
Cash Conversion Cycle46214721772010,1267,864700493687120164
Working Capital Days3599777-696-51,3827,4991,45533375151163
ROCE %8%2%-77%-76%-14%-9%-5%1%3%34%25%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters66.72%66.72%66.24%53.65%53.65%53.65%53.65%53.65%53.65%53.65%53.65%53.65%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.02%0.04%0.04%0.12%0.13%
DIIs0.00%0.00%0.00%0.00%0.01%0.00%0.00%0.00%0.00%0.00%0.15%0.17%
Public33.27%33.28%33.76%46.34%46.34%46.35%46.34%46.33%46.31%46.31%46.08%46.05%
No. of Shareholders11,92812,44212,95513,38324,92134,18233,01430,54229,41928,14027,03530,677

Fundamentals

Market Cap₹ 2,028 Cr.
Current Price₹ 118
Stock P/E45.9
Book Value₹ 12.6
ROCE25.4 %
ROE27.2 %
Dividend Yield0.04 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)33%
Compounded Profit Growth (TTM)43%
Standalone figures.
Valuation
Market capRs 1,964 Cr
Enterprise valueRs 1,954 Cr
P/E (TTM)44.45x
Price to book9.03x
Price to sales7.94x
EV / EBITDA44.41x
EV / EBIT45.27x
EV / sales7.90x
Price to cash flow1227.79x
Earnings yield2.25%
Dividend yield0.04%
P/E, 3-year average465.81x
P/B, 3-year average31.30x
P/E, 5-year average318.63x
P/B, 5-year average-132.40x
Profitability
Operating margin (excl. other income)17.26%
Operating margin (incl. other income)18.09%
EBITDA margin17.80%
Pre-tax margin16.80%
Net profit margin17.87%
Net margin, latest quarter12.04%
ROE27.23%
ROCE25.39%
ROA20.89%
ROE, 3-year average25.18%
ROCE, 3-year average22.15%
ROA, 3-year average18.01%
ROE, 5-year average7.43%
ROCE, 5-year average18.72%
ROA, 5-year average12.53%
ROIC (approx.)22.84%
Tax rate-9.64%
Other income / net worth0.93%
Growth
Sales growth (latest year)45.54%
Profit growth (latest year)65.20%
Sales CAGR, 3 years277.36%
Sales CAGR, 5 years275.09%
Profit CAGR, 3 years141.91%
Sales growth QoQ-46.61%
Profit growth QoQ-73.74%
Sales growth YoY (latest quarter)4.74%
Profit growth YoY (latest quarter)-26.15%
Per share
EPS (TTM)Rs 2.57
EPS (latest quarter)Rs 0.34
EPS, 3-year averageRs 0.84
EPS, 5-year averageRs 0.46
Book value per shareRs 12.65
Sales per shareRs 14.38
Cash flow per shareRs 0.09
Free cash flow per shareRs -0.00
Dividends
Dividend payout1.86%
Dividend payout, 3-year average1.86%
Dividend payout, 5-year average1.86%
Efficiency
Asset turnover0.84x
Fixed asset turnover3.78x
Inventory turnover3.31x
Inventory days110 days
Debtor days160 days
Debtors turnover2.28x
Creditor days107 days
Cash conversion cycle164 days
Working capital days163 days
Leverage
Total debtRs 1 Cr
Cash and bankRs 11 Cr
Net debtRs -10 Cr
Debt to equity0.00x
Net debt / EBITDA-0.23x
Interest coverage26.65x
Current ratio (filing 2026-03-31)2.66x
Quick ratio (filing 2026-03-31)1.86x
Trade payables (filing 2026-03-31)Rs 56 Cr
Owners' fund to total sources74.84%
Debt to assets0.24%
Cash flow
Cash from Operating Activity (latest year)Rs 2 Cr
Cash from Investing Activity (latest year)Rs 12 Cr
Cash from Financing Activity (latest year)Rs -4 Cr
Net Cash Flow (latest year)Rs 10 Cr
Free cash flow (latest year)Rs -0 Cr
FCFE (approx.: FCF + change in debt)Rs -2 Cr
Cash from ops / profit, 5 years-0.48x
Sales to cash flow153.14x
Statement figures
Net sales (TTM)Rs 247 Cr
Net sales (latest year)Rs 245 Cr
Sales (latest quarter)Rs 49 Cr
Operating profit excl. other income (latest year)Rs 42 Cr
Operating profit (latest quarter)Rs 7 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 44 Cr
PBDT (TTM)Rs 42 Cr
Profit before tax (TTM)Rs 42 Cr
Tax (latest year)Rs -4 Cr
Net profit (TTM)Rs 44 Cr
Net profit (latest year)Rs 46 Cr
Net profit (latest quarter)Rs 6 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 192 Cr
Total expenditure (latest year)Rs 203 Cr
Total income (latest year)Rs 247 Cr
Share capitalRs 17 Cr
ReservesRs 200 Cr
Shareholders' fundsRs 218 Cr
Total assetsRs 291 Cr
Net blockRs 65 Cr
Capital work in progressRs 25 Cr
ReceivablesRs 107 Cr
InventoryRs 58 Cr
Other liabilitiesRs 72 Cr
Shares outstanding (crore)17.19
Ownership
Promoter holding53.65% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 44.5 is at the 27th percentile of its own 2.8-year range (median 80.4, low 27.8, high 362.1).
P/B 9.04 is at the 19th percentile (median 30.15).
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.
PeriodMARSONSNifty 50Difference
1 week-8.1%-2.8% -5.3 pts
1 month-7.8%-6.8% -1.1 pts
3 months+0.6%-7.6% +8.2 pts
6 months-7.1%+0.4% -7.5 pts
3 years+1870.0%+14.2% +1855.8 pts
5 years+1076.7%+27.9% +1048.8 pts

Red flags

F-score 5 of 8
explainWeak cash conversion Cash from operations was -50% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 15% of total assets in 2026
explainShare dilution Share count up 0% in a year, 38% in three
lookInventory outrunning sales Inventory grew 288% vs sales +46% in 2026
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 ₹49 Cr +4.7% vs Jun 2025. Net profit ₹6 Cr -26.2%.
Against our estimate for Jun 2026: sales -22.2%, profit -42.3% miss. Our estimate for Sep 2026: sales Rs 81 Cr, profit Rs 12 Cr (how).

Activity

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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-16Press ReleaseA press release dated September 16, 2026, titled "Press Release for an appointment of an Additional Independent Director w.e.f 16thSeptember 2026.".
2026-09-16General UpdatesThe appointment of Additional Independent Director of the company.
2026-09-05Record DateRecord date for the purpose of Annual General Meeting is 23-Sep-2026.
2026-09-05Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-02Clarification - Financial ReThe Exchange has sought clarification from Marsons Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obliga...
2026-08-13Press ReleaseA press release dated August 13, 2026, titled "Press Release on the Unaudited Consolidated Financial Results of the Company for the quarter ended 30th...
2026-08-13Board meeting outcomeMarsons Limited has submitted to the Exchange, the financial results (standalone & consolidated) for the period ended Jun 30, 2026.
2026-07-16ResignationResignation of Mr. Mohammad Tinku as Non- Executive Independent Director of the company w.e.f. July 16, 2026.
2026-07-15ResignationResignation of Director/KMP/SMP
2026-07-15ResignationResignation of Mr. Mohammad Tinku (DIN: 09839960) as Independent Director of the company w.e.f. July 16, 2026.
2026-07-03Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-06-18UpdatesMarsons Limited has submitted the Audited Financial Results in Machine readable form.
2026-06-16Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-06-10Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-06-09Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-06-03Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-05-22Board meeting outcomeMarsons Limited has submitted to the Exchange, the Audited Financial statements (Standalone & consolidated) of the company for the quarter and year en...
2026-05-21Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-05-15Press ReleaseA press release dated May 15, 2026, titled "Marsons Limited receives Power Grid Corporation of India vendor approval for supply of Power Transformers"...
2026-05-15General UpdatesIntimation of Receipt of approval of manufacturing unit for supply of Transformers upto 132kV in POWERGRID projects
2026-05-08Awarding of order(s)/contracWe are pleased to announce that our company has received Purchase Order worth ₹18,88,00,000.00 (incl. GST) (Eighteen Crores Eighty Eight Lakhs o...
2026-04-17Awarding of order(s)/contracThe company has received Purchase orders worth Rs. 15,38,34,500.00 (incl GST) from INOX Solar Limited.
2026-04-07Disclosure under SEBI TakeovYashoda Inn Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (S...
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.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Marsons Ltd?

Marsons Ltd (MARSONS) has a market capitalisation of Rs 2,028 Cr. at the 2026-10-01 close.

What is the P/E ratio of Marsons Ltd?

Marsons Ltd trades at a P/E of 45.9 on trailing twelve-month profit, at the 2026-10-01 close.

What were Marsons Ltd's latest quarterly results?

In the Jun 2026 quarter, Marsons Ltd sales was Rs 49 Cr (+4.7% vs Jun 2025) and net profit was Rs 6 Cr.

What is the 52-week high and low of Marsons Ltd?

The 52-week high is Rs 175.40 and the 52-week low is Rs 100.25.

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