Markolines Pavement Technologies Ltd
₹ 148
0.56%
24 Mar
- close price
About
Incorporated in 2002, Markolines Pavement Technologies Ltd is in the business of providing highway operations & maintenance services[1]
Key Points
- Market Cap ₹ 328 Cr.
- Current Price ₹ 148
- High / Low ₹ 188 / 120
- Stock P/E 12.0
- Book Value ₹ 82.7
- Dividend Yield 1.02 %
- ROCE 18.9 %
- ROE 16.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 25.3% CAGR over last 5 years
Cons
- Company has high debtors of 215 days.
- Promoter holding has decreased over last 3 years: -17.6%
- Working capital days have increased from 102 days to 154 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
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 73 | 171 | 158 | 187 | 312 | 347 | 300 | 345 | |
| 64 | 153 | 144 | 163 | 284 | 316 | 262 | 302 | |
| Operating Profit | 9 | 18 | 14 | 23 | 28 | 32 | 39 | 44 |
| OPM % | 13% | 11% | 9% | 13% | 9% | 9% | 13% | 13% |
| 0 | 0 | -0 | 0 | 0 | 4 | 6 | 8 | |
| Interest | 3 | 5 | 5 | 6 | 3 | 5 | 8 | 7 |
| Depreciation | 2 | 3 | 2 | 3 | 2 | 5 | 7 | 7 |
| Profit before tax | 4 | 10 | 6 | 15 | 22 | 25 | 30 | 37 |
| Tax % | 31% | 31% | 38% | 31% | 30% | 32% | 24% | |
| 3 | 7 | 4 | 10 | 16 | 17 | 23 | 27 | |
| EPS in Rs | 252.00 | 719.00 | 40.20 | 4.57 | 7.13 | 7.83 | 10.25 | 12.34 |
| Dividend Payout % | 0% | 0% | 0% | 9% | 8% | 11% | 15% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 17% |
| TTM: | -14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 30% |
| TTM: | 29% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 18% |
| Last Year: | 16% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.87 | 0.87 | 0.87 | 19 | 19 | 19 | 22 | 22 |
| Reserves | 12 | 19 | 24 | 52 | 67 | 83 | 155 | 160 |
| 38 | 37 | 36 | 27 | 31 | 59 | 63 | 52 | |
| 23 | 33 | 48 | 38 | 72 | 80 | 71 | 57 | |
| Total Liabilities | 73 | 90 | 108 | 136 | 188 | 240 | 310 | 292 |
| 12 | 10 | 10 | 9 | 21 | 29 | 32 | 65 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 8 | 10 | 21 | 0 |
| 61 | 80 | 98 | 127 | 158 | 200 | 256 | 225 | |
| Total Assets | 73 | 90 | 108 | 136 | 188 | 240 | 310 | 292 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -7 | 7 | 1 | -20 | 20 | 2 | -33 | |
| -7 | -0 | -2 | -2 | -22 | -23 | -16 | |
| 13 | -7 | 0 | 22 | 1 | 21 | 50 | |
| Net Cash Flow | -0 | -0 | 0 | 1 | -1 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 191 | 81 | 103 | 114 | 89 | 127 | 215 |
| Inventory Days | 101 | 94 | 125 | 148 | 271 | 76 | 27 |
| Days Payable | 190 | 90 | 147 | 110 | 408 | 188 | 148 |
| Cash Conversion Cycle | 102 | 85 | 80 | 152 | -48 | 15 | 94 |
| Working Capital Days | 100 | 62 | 72 | 146 | 84 | 69 | 154 |
| ROCE % | 29% | 20% | 27% | 24% | 22% | 19% |
Insights
In beta| Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|
| Cold In-Place Recycling (CIPR) Experience (Cumulative) Lane KM |
|
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| FDR / Soil Stabilization Work (Cumulative) Lakh Cum |
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| Micro surfacing work (Cumulative) Lakh Sqm |
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| Unexecuted Order Book Rs. Crore |
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| Major Maintenance & Repairs (MMR) Work (Cumulative) Lane KM |
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| Order Pipeline Rs. Crore |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
16 Mar - Transcript of Post Earning Conference call with Analyst/ Investors held on 11th March, 2026
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
14 Mar - Transcript of Post Earnings Conference Call with Analyst / Investors held on 11th March, 2026.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
8 Mar - Of Virtual Meeting with investors/ analyst scheduled on Wednesday the 11th March, 2026, 4.00 p.m. onwards
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Board Meeting Outcome for Board Meeting Outcome For Outcome Of The Board Meeting Approving Scheme Of Amalgamation (Merger) Between Markolines Pavement Technologies Limited (Transferee) And Markolines Infra Limited (Transferor).
6 Mar - Board approved amalgamation of Markolines Infra into Markolines Pavement; share exchange 1:1.15; appointed date 1 Jan 2026.
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Board Meeting Outcome for Outcome Of Board Meeting Held On 5Th March 2026, In Accordance With Provisions Of Regulation 30 Of SEBI (LODR) Regulations, 2015 For Conversion Of Warrants Into Equity Shares
5 Mar - Converted 100,000 warrants to equity at Rs.165 each; RPV Holdings allotted; Rs1.2375 crore received.
Annual reports
Concalls
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Mar 2026TranscriptPPT
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Mar 2026Transcript PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Nov 2024TranscriptAI SummaryPPT
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Jun 2024Transcript PPT
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Nov 2023Transcript PPT
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Jul 2023TranscriptAI SummaryPPT
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Dec 2022TranscriptAI SummaryPPT
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Jun 2022TranscriptAI SummaryPPT
Business Overview[1]
Markolines Pavement Technologies Limited is a leading highway maintenance company, specializing in infrastructure services. The company provides a full spectrum of services, including preventive and major maintenance, micro surfacing, cold in-place recycling (CIPR), soil stabilization, rigid pavement maintenance, and tunneling.