Marinetrans India Ltd
Incorporated in 2004, Marinetrans India Ltd is in the business of International Freight Forwarding
Non-Vessel Common Operating carrier (NVOCC), Sea Freight Booking in the Shipping Industry[1]
- Market Cap ₹ 20.6 Cr.
- Current Price ₹ 16.2
- High / Low ₹ 28.2 / 13.3
- Stock P/E 137
- Book Value ₹ 20.2
- Dividend Yield 0.00 %
- ROCE 5.75 %
- ROE 1.54 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.80 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 7.49% over last 3 years.
- Debtor days have increased from 47.6 to 85.3 days.
- Working capital days have increased from 38.7 days to 63.0 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
Services Services Transport Services Logistics Solution Provider
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 122 | 96 | 203 | 150 | 106 | |
| 121 | 95 | 200 | 148 | 105 | |
| Operating Profit | 1 | 1 | 3 | 2 | 2 |
| OPM % | 1% | 1% | 1% | 2% | 2% |
| 0 | 0 | 0 | 0 | 0 | |
| Interest | 1 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 1 | 2 | 2 | 1 |
| Tax % | 35% | 28% | 26% | 27% | 44% |
| 0 | 1 | 2 | 2 | 0 | |
| EPS in Rs | 5.91 | 19.70 | 45.81 | 1.79 | 0.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| TTM: | -29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -26% |
| TTM: | -79% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 3% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 7% |
| Last Year: | 2% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 0.41 | 0.41 | 0.41 | 9 | 13 |
| Reserves | 11 | 12 | 14 | 8 | 13 |
| 3 | 2 | 3 | 6 | 7 | |
| 10 | 7 | 6 | 5 | 10 | |
| Total Liabilities | 25 | 22 | 23 | 26 | 42 |
| 0 | 0 | 0 | 0 | 1 | |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 25 | 22 | 23 | 26 | 42 | |
| Total Assets | 25 | 22 | 23 | 26 | 42 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 0 | 2 | -1 | -1 | -8 | |
| 1 | 0 | -0 | -0 | -1 | |
| -1 | -1 | 0 | 3 | 9 | |
| Net Cash Flow | -1 | 1 | -1 | 2 | 0 |
| Free Cash Flow | 0 | 2 | -1 | -1 | -8 |
| CFO/OP | -99% | 134% | 54% | -15% | -461% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Debtor Days | 54 | 62 | 30 | 28 | 85 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 54 | 62 | 30 | 28 | 85 |
| Working Capital Days | 28 | 36 | 23 | 30 | 63 |
| ROCE % | 10% | 18% | 13% | 6% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Asset Turnover Ratio x ・Standalone data |
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| Trade Payables Turnover Ratio x ・Standalone data |
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| Trade Receivables Turnover Ratio x ・Standalone data |
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| Number of Permanent Employees Number ・Standalone data |
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Documents
Announcements
-
Trading Window
27 March 2026 - Trading window closed from 01-Apr-2026 until 48 hours after audited results for year ended 31-Mar-2026.
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Change in Management
25 February 2026 - CFO change: Praveen Kunder resigns; Usha Dilip Peta appointed effective March 20, 2026.
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Structural Digital Database
12 January 2026 - SDD compliance certificate for quarter ended 31 Dec 2025; one event captured; no noncompliance reported.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
12 January 2026 - RTA Skyline certificate dated 03 Jan 2026 confirming Regulation 74(5) compliance for period ended 31 Dec 2025.
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Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
12 January 2026 - Marinetrans exempt from Regulation 27(2) corporate governance reporting for quarter ended 31 Dec 2025.
Business Overview:[1]
a) MIL started with the business of sea freight forwarder, then expanded to Door-to-Door Delivery and 3PL services via informal arrangements with third-party service providers.
b) Currently, it offers customers a comprehensive range of transport management and freight-related services.
c) The company is responsible for obtaining and confirming Sales Booking Requests, confirming the Shipping Line, ensuring Direct Customer Transport, Stuffing, transportation to dock, and coordinating with the customer until delivery.
d) The company primarily acts as a point of contact between the Shipping Line and the customer; it does not directly operate through ports.
e) MIL is dependent on various third-party logistics providers for transportation, customs clearances, and cargo delivery.
f) The company does not hold a Custom House Agent (CHA) license and outsources this role to a CHA forwarder.
g) An internal team (Customer Service and Dispatch Dept.) is responsible for appointing CHA forwarders to handle customs clearance, while the company acts as an intermediary between the customer and the appointed CHA forwarder.