Skip to main content
Swing Capital

Marine Electricals (India) Ltd

NSE: MARINE

Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. [1]

₹222
52W: ₹151 — ₹258
PE 61.7 · Book ₹28.9 · +668% vs book
Market Cap₹3,107 Cr
Stock P/E61.7Price to Earnings
ROCE17.5%Return on Capital
ROE13%Return on Equity
Div. Yield0.13%Face Value ₹2

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has delivered good profit growth of 54.0% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 7.35 times its book value
  • −Company has a low return on equity of 12.6% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -6.27%

Shareholding Pattern

Promoters68.2%
FIIs0.59%
DIIs0.34%
Public30.87%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.17%71.17%68.45%▼2.768.45%68.45%68.46%▲0.068.54%▲0.168.2%▼0.3
FIIs0.15%0.25%▲0.10.96%▲0.70.15%▼0.80.08%▼0.10.18%▲0.10.65%▲0.50.59%▼0.1
DIIs0.11%0.08%▼0.00.04%▼0.00.04%0.07%▲0.00.12%▲0.00.12%0.34%▲0.2
Public28.56%28.5%▼0.130.56%▲2.131.35%▲0.831.4%▲0.031.24%▼0.230.69%▼0.530.87%▲0.2

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales121124202125165185225147173182
Expenses113115182112150170206133152165
Operating Profit992013161519142217
OPM %7%8%10%10%10%8%8%10%12%9%
Net Profit55138101013111511
EPS ₹0.390.41.020.620.70.740.930.791.110.82

AI Insights

Revenue Trend

TTM revenue at ₹727Cr, up 3.7% YoY. OPM at 10%.

Debt Position

Borrowings at ₹32Cr. Debt-to-equity ratio: 0.09x. Healthy balance sheet.

Capex Cycle

CWIP at ₹9Cr (16% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.34% (+0.34pp change). FIIs: 0.59% (+0.59pp change). Promoters hold 68.2%.

Margin & Efficiency

ROCE improving from 18% (Mar 2012) to 18% (Mar 2025). Working capital days: 123.

Valuation

PE 61.7x with 17.5% ROCE. Price is 668% above book value of ₹28.9. Dividend yield: 0.13%.

Recent Announcements