Markolines Pavement Technologies Ltd
Incorporated in 2002, Markolines Pavement Technologies Ltd is in the business of providing highway operations & maintenance services[1]
- Market Cap ₹ 371 Cr.
- Current Price ₹ 167
- High / Low ₹ 188 / 120
- Stock P/E 14.1
- Book Value ₹ 91.2
- Dividend Yield 0.90 %
- ROCE 15.7 %
- ROE 13.9 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 44.2% CAGR over last 5 years
Cons
- Company has high debtors of 154 days.
- Promoter holding has decreased over last 3 years: -17.2%
* 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
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 73 | 171 | 158 | 187 | 312 | 347 | 300 | 324 | |
| 64 | 153 | 144 | 163 | 284 | 316 | 262 | 283 | |
| Operating Profit | 9 | 18 | 14 | 23 | 28 | 32 | 39 | 41 |
| 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 | 6 |
| Depreciation | 2 | 3 | 2 | 3 | 2 | 5 | 7 | 7 |
| Profit before tax | 4 | 10 | 6 | 15 | 22 | 25 | 30 | 35 |
| Tax % | 31% | 31% | 38% | 31% | 30% | 32% | 24% | 25% |
| 3 | 7 | 4 | 10 | 16 | 17 | 23 | 26 | |
| EPS in Rs | 252.00 | 719.00 | 40.20 | 4.57 | 7.13 | 7.83 | 10.25 | 11.81 |
| Dividend Payout % | 0% | 0% | 0% | 9% | 8% | 11% | 15% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 1% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 44% |
| 3 Years: | 18% |
| TTM: | 17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 10% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 16% |
| Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.87 | 0.87 | 0.87 | 19 | 19 | 19 | 22 | 22 |
| Reserves | 12 | 19 | 24 | 52 | 67 | 83 | 155 | 180 |
| 38 | 37 | 36 | 27 | 31 | 59 | 63 | 86 | |
| 23 | 33 | 48 | 38 | 72 | 80 | 71 | 47 | |
| Total Liabilities | 73 | 90 | 108 | 136 | 188 | 240 | 310 | 336 |
| 12 | 10 | 10 | 9 | 21 | 29 | 32 | 31 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 8 | 10 | 21 | 40 |
| 61 | 80 | 98 | 127 | 158 | 200 | 256 | 264 | |
| Total Assets | 73 | 90 | 108 | 136 | 188 | 240 | 310 | 336 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -7 | 7 | 1 | -20 | 20 | 2 | -33 | 11 | |
| -7 | -0 | -2 | -2 | -22 | -23 | -16 | -26 | |
| 13 | -7 | 0 | 22 | 1 | 21 | 50 | 16 | |
| Net Cash Flow | -0 | -0 | 0 | 1 | -1 | 0 | 0 | 1 |
| Free Cash Flow | -14 | 6 | -1 | -21 | 6 | -11 | -43 | 6 |
| CFO/OP | -73% | 40% | 8% | -84% | 73% | 8% | -63% | 50% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 191 | 81 | 103 | 114 | 89 | 127 | 215 | 154 |
| Inventory Days | 101 | 94 | 125 | 148 | 271 | 76 | 27 | 37 |
| Days Payable | 190 | 90 | 147 | 110 | 408 | 188 | 148 | 129 |
| Cash Conversion Cycle | 102 | 85 | 80 | 152 | -48 | 15 | 94 | 62 |
| Working Capital Days | 100 | 62 | 72 | 146 | 84 | 69 | 154 | 86 |
| ROCE % | 29% | 20% | 27% | 24% | 22% | 19% | 16% |
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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Extracted by Screener AI
Documents
Announcements
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Reg. 32-Statement Of Deviation(S) Or Variations(S)
1d - No deviation in use of Rs.2.01 crore from warrant conversion; funds fully utilized for working capital, capex, expansion and loans.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
1d - Audio recording of Q4-FY26 earnings call on audited results available on 29 May 2026.
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Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Markolines Pavement Technologies Limited informed the esteemed exchange about presentation to be made to the Investors/Analysts'' in Investors/Analysts'' virtual meeting to take place on 29th …
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
26 May - Markolines reported FY26 PAT of Rs 26.23 crore, order book above Rs 600 crore, and warrant conversion.
- Results-Financial Results For The Quarter And Year Ended 31 March 2026 26 May
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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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.