Martin Burn Ltd

₹ 50.0 -0.18%

09 Feb 4:01 p.m.

About

Incorporated in 1946, Martin Burn Ltd is in the business of Real Estate Development and execution of Works Contract Projects^[1]

Key Points

Business Overview:^[1]
MBL is engaged in the activities of Work Contract & Real Estate development. It focuses on the mid-market /premium residential
segment in and around Kolkata. The company deals with all activities across the product value chain from acquisition of land, obtaining approvals, project planning and execution, to launch, sales & marketing, and final delivery of the developed property to the customers.

Website BSE

Market Cap ₹ 25.8 Cr.
Current Price ₹ 50.0
High / Low ₹ 79.7 / 45.0
Stock P/E 4.47
Book Value ₹ 112
Dividend Yield 0.00 %
ROCE -2.17 %
ROE -3.90 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.45 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -12.9% over past five years.
Company has a low return on equity of -0.47% over last 3 years.
Earnings include an other income of Rs.16.7 Cr.
Company has high debtors of 228 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Realty Realty Residential, Commercial Projects

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	0.07	0.07	0.08	0.20	0.08	1.64	0.08	0.08	0.08	0.08	0.00	0.00	0.00
	0.55	0.88	0.40	0.74	0.60	4.23	0.59	0.51	0.48	6.89	0.58	0.91	0.87
Operating Profit	-0.48	-0.81	-0.32	-0.54	-0.52	-2.59	-0.51	-0.43	-0.40	-6.81	-0.58	-0.91	-0.87
OPM %	-685.71%	-1,157.14%	-400.00%	-270.00%	-650.00%	-157.93%	-637.50%	-537.50%	-500.00%	-8,512.50%
	1.25	1.32	1.22	1.23	1.33	2.75	1.46	1.65	1.49	11.79	1.80	1.78	1.33
Interest	0.23	0.23	0.22	0.25	0.22	0.22	0.22	0.22	0.22	0.20	0.00	0.00	0.00
Depreciation	0.05	0.05	0.04	0.05	0.07	0.06	0.06	0.06	0.06	0.06	0.05	0.05	0.05
Profit before tax	0.49	0.23	0.64	0.39	0.52	-0.12	0.67	0.94	0.81	4.72	1.17	0.82	0.41
Tax %	28.57%	0.00%	28.12%	0.00%	0.00%	58.33%	28.36%	27.66%	0.00%	14.62%	28.21%	28.05%	26.83%
	0.35	0.22	0.46	0.39	0.52	-0.18	0.48	0.67	0.80	4.03	0.85	0.59	0.29
EPS in Rs	0.68	0.43	0.89	0.76	1.01	-0.35	0.93	1.30	1.55	7.82	1.65	1.14	0.56
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013 15m	Sep 2014 15m	Mar 2016 18m	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	1.66	0.38	3.78	0.97	1.68	0.42	0.64	0.27	0.64	0.29	1.99	0.32	0.08
	3.51	2.70	7.79	2.23	3.55	4.83	3.23	3.44	4.07	3.06	5.95	8.45	9.25
Operating Profit	-1.85	-2.32	-4.01	-1.26	-1.87	-4.41	-2.59	-3.17	-3.43	-2.77	-3.96	-8.13	-9.17
OPM %	-111.45%	-610.53%	-106.08%	-129.90%	-111.31%	-1,050.00%	-404.69%	-1,174.07%	-535.94%	-955.17%	-198.99%	-2,540.62%	-11,462.50%
	4.63	1.31	5.73	4.76	5.06	8.78	6.01	4.35	6.79	5.17	6.54	16.38	16.70
Interest	1.29	0.02	0.02	0.78	0.81	2.29	0.98	0.88	0.82	0.89	0.93	0.88	0.20
Depreciation	0.28	0.30	0.35	0.24	0.30	0.21	0.25	0.24	0.24	0.20	0.22	0.25	0.21
Profit before tax	1.21	-1.33	1.35	2.48	2.08	1.87	2.19	0.06	2.30	1.31	1.43	7.12	7.12
Tax %	28.10%	6.02%	25.93%	16.53%	18.27%	22.46%	21.46%	-50.00%	29.13%	22.90%	17.48%	15.87%
	0.87	-1.41	1.00	2.07	1.70	1.45	1.72	0.10	1.63	1.00	1.18	5.99	5.76
EPS in Rs	1.69	-2.74	1.94	4.02	3.30	2.81	3.34	0.19	3.16	1.94	2.29	11.62	11.17
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	15.88%	18.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-2%
5 Years:	-13%
3 Years:	-21%
TTM:	-96%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	225%

Stock Price CAGR
10 Years:	8%
5 Years:	15%
3 Years:	7%
1 Year:	-34%

Return on Equity
10 Years:	2%
5 Years:	0%
3 Years:	0%
Last Year:	-4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40
Reserves	35.69	34.19	35.11	37.12	38.73	40.36	41.77	41.39	42.98	43.87	45.04	50.92	52.32
	7.04	6.49	7.73	7.44	10.15	9.84	10.12	10.41	9.74	10.11	10.08	0.34	0.14
	48.24	43.04	42.14	44.24	45.93	41.30	43.75	43.22	41.62	40.84	40.31	45.53	43.26
Total Liabilities	96.37	89.12	90.38	94.20	100.21	96.90	101.04	100.42	99.74	100.22	100.83	102.19	101.12
	22.39	21.98	21.94	21.64	21.33	21.34	21.12	20.95	20.67	20.39	20.48	19.63	19.33
CWIP	0.16	0.41	0.53	0.57	8.21	8.24	8.45	10.45	10.47	10.92	10.94	10.96	10.96
Investments	0.00	0.00	0.08	0.00	0.00	0.00	0.00	0.00	0.00	1.59	2.41	5.43	6.47
	73.82	66.73	67.83	71.99	70.67	67.32	71.47	69.02	68.60	67.32	67.00	66.17	64.36
Total Assets	96.37	89.12	90.38	94.20	100.21	96.90	101.04	100.42	99.74	100.22	100.83	102.19	101.12

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-2.39	0.25	0.59	0.80	3.75	-11.87	-4.66	0.23	6.50	-1.27	3.77	15.35
	-0.33	-0.48	-0.39	0.00	-0.07	2.45	3.86	-0.42	-3.94	0.71	-2.83	-5.37
	2.66	0.04	0.08	-0.92	-3.72	11.24	1.09	-0.71	-1.69	-0.53	-0.93	-10.46
Net Cash Flow	-0.06	-0.19	0.28	-0.12	-0.04	1.83	0.29	-0.90	0.87	-1.09	0.01	-0.48

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2013	Sep 2014	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	430.96	1,479.21	84.01	323.61	167.29	347.62	273.75	527.22	165.39	390.17	62.36	228.12
Inventory Days	557.53		12.05								0.00
Days Payable	1,271.48		6.89
Cash Conversion Cycle	-282.99	1,479.21	89.17	323.61	167.29	347.62	273.75	527.22	165.39	390.17	62.36	228.12
Working Capital Days	-8,590.69	-13,332.11	-1,561.39	9,606.65	8,360.24	33,710.36	25,681.17	56,926.48	18,888.75	41,660.34	4,922.91	5,212.66
ROCE %	5.25%	4.76%	1.97%	6.64%	5.51%	7.48%	5.55%	0.49%	5.24%	3.69%	2.32%	-2.17%

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	65.84%	65.84%	65.84%	65.84%	65.84%	65.84%	65.84%	65.84%	65.84%	66.23%	66.23%	66.23%
	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.12%
	0.04%	0.04%	0.04%	0.04%	0.05%	0.05%	0.05%	0.04%	0.04%	0.04%	0.04%	0.02%
	33.88%	33.88%	33.87%	33.88%	33.87%	33.87%	33.87%	33.88%	33.88%	33.48%	33.49%	33.63%
No. of Shareholders	8,498	8,482	8,710	8,686	8,732	8,763	8,766	8,653	8,641	8,726	8,765	3,186

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	59.77%	64.60%	65.26%	65.91%	65.72%	65.84%	65.84%	65.84%	65.84%	66.23%
	0.23%	0.44%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.23%	0.12%
	0.03%	0.03%	0.04%	0.04%	0.04%	0.04%	0.04%	0.05%	0.04%	0.02%
	39.97%	34.93%	34.47%	33.82%	34.01%	33.89%	33.88%	33.87%	33.88%	33.63%
No. of Shareholders	9,041	8,700	8,580	8,476	8,478	8,454	8,498	8,732	8,641	3,186

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Martin Burn Ltd

Martin Burn Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports