Marine Electricals (India) Ltd

Marine Electric. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Marine Electricals (India) Ltd

₹ 175 -3.91%
13 Mar - close price
marineelectricals.com NSE: MARINE
About

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

Key Points

Market Leadership
The company is one of India's largest LV and MV Switchgear manufacturers. [1] It has a 50% market share in the electrical segment, it is a tier-1 electrical supplier and an approved vendor with Indian Navy, Indian and Global Shipyards. [2]

Website NSE
  • Market Cap ₹ 2,425 Cr.
  • Current Price ₹ 175
  • High / Low ₹ 258 / 155
  • Stock P/E 48.2
  • Book Value ₹ 28.9
  • Dividend Yield 0.17 %
  • ROCE 17.5 %
  • ROE 13.0 %
  • Face Value ₹ 2.00
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Pros

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

Cons

  • Company has a low return on equity of 12.6% over last 3 years.
  • Promoter holding has decreased over last 3 years: -5.17%

* 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

Industrials Capital Goods Industrial Manufacturing Industrial Products

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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
116 130 86 121 124 202 125 165 185 225 147 173 182
102 119 77 113 115 182 112 150 170 206 133 152 165
Operating Profit 14 11 9 9 9 20 13 16 15 19 14 22 17
OPM % 12% 9% 10% 7% 8% 10% 10% 10% 8% 8% 10% 12% 9%
0 1 1 2 2 3 3 2 5 4 5 5 4
Interest 2 2 2 2 3 3 3 3 3 3 3 3 4
Depreciation 2 2 1 2 2 2 2 3 3 3 2 2 3
Profit before tax 11 9 6 7 7 18 11 13 13 17 14 20 15
Tax % 21% 30% 27% 27% 22% 25% 24% 24% 23% 24% 24% 24% 23%
8 6 5 5 5 13 8 10 10 13 11 15 11
EPS in Rs 0.68 0.49 0.38 0.39 0.40 1.02 0.62 0.70 0.74 0.93 0.79 1.11 0.82
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
78 98 193 209 288 323 206 200 323 391 534 701 727
70 87 175 189 263 305 189 177 296 356 486 638 655
Operating Profit 8 11 18 21 25 18 17 23 27 35 47 62 72
OPM % 10% 11% 9% 10% 9% 6% 8% 11% 8% 9% 9% 9% 10%
0 0 2 2 2 3 6 4 5 6 8 14 18
Interest 2 3 3 4 5 6 9 8 6 9 10 12 13
Depreciation 1 1 5 4 4 3 8 8 8 6 7 11 11
Profit before tax 5 7 13 15 18 11 6 11 18 26 38 54 66
Tax % 4% 31% 37% 42% 34% 29% 21% 28% 29% 26% 25% 24%
5 5 8 9 12 8 5 8 12 20 28 41 50
EPS in Rs 0.54 0.55 0.92 1.00 1.30 0.63 0.39 0.64 1.02 1.54 2.14 2.97 3.65
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 31% 0% 0% 9% 10%
Compounded Sales Growth
10 Years: %
5 Years: 28%
3 Years: 29%
TTM: 7%
Compounded Profit Growth
10 Years: %
5 Years: 54%
3 Years: 46%
TTM: 21%
Stock Price CAGR
10 Years: %
5 Years: 22%
3 Years: 65%
1 Year: 9%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 13%
Last Year: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 17 17 17 17 18 25 25 25 25 25 27 28 28
Reserves 8 13 33 42 57 100 101 109 120 155 196 349 371
19 19 28 31 33 43 39 48 29 55 76 34 32
36 39 45 67 168 114 129 116 106 138 220 223 213
Total Liabilities 80 89 124 157 277 280 294 298 280 372 519 635 644
32 31 37 42 26 31 46 39 38 39 46 48 56
CWIP 0 0 0 0 14 14 0 0 2 0 6 13 9
Investments 6 6 7 7 7 12 11 11 9 26 36 39 42
43 51 79 108 230 223 238 247 230 307 432 534 538
Total Assets 80 89 124 157 277 280 294 298 280 372 519 635 644

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
0 0 1 9 31 -46 21 -3 38 -6 1 46
0 0 -8 -8 -21 -7 -0 -2 -11 -28 -24 -91
0 0 6 -3 2 44 -19 1 -27 33 24 54
Net Cash Flow 0 0 -1 -3 12 -10 2 -4 -1 -0 1 9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 118 95 110 136 186 155 215 232 135 163 179 150
Inventory Days 16 43 42 45 136 150 84 55 66 40
Days Payable 89 128 207 131 272 231 119 130 160 114
Cash Conversion Cycle 118 95 38 51 21 69 79 151 100 88 85 76
Working Capital Days 32 24 -8 22 -1 70 109 141 90 79 72 123
ROCE % 18% 20% 22% 23% 12% 9% 10% 13% 16% 17% 18%

Insights

In beta
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Order Book
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Number of Manufacturing Plants
Number
Number of Service Centres
Number
Total Manpower
Number
Estimated Market Share for Marine Product Range in India
Percentage
Market Share in Schneider Electrical's Blokset Panels in India
Percentage

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Feb 2026
74.46% 73.84% 72.87% 71.98% 71.17% 71.17% 68.45% 68.45% 68.45% 68.46% 68.54% 68.20%
0.00% 0.00% 0.00% 0.02% 0.15% 0.25% 0.96% 0.15% 0.08% 0.18% 0.65% 0.29%
0.00% 0.00% 0.00% 0.00% 0.11% 0.08% 0.04% 0.04% 0.07% 0.12% 0.12% 0.33%
25.54% 26.16% 27.12% 27.99% 28.56% 28.50% 30.56% 31.35% 31.40% 31.24% 30.69% 31.19%
No. of Shareholders 52,44151,59449,30550,30455,98383,79989,62893,62996,33294,68889,67989,182

* 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.

Click on the line-items to see the names of individual entities.

Documents

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