Marsons Ltd

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Marsons Ltd

₹ 118 -4.49%
23 Oct - close price
marsonsonline.com BSE: 517467 NSE: MARSONS
About

Incorporated in 1976, Marsons Ltd
is engaged in manufacturing of transformers in the capacity range of 100 MVA 132KV class[1]

Key Points

Business Overview:[1][2]
MSL is an ISO 9001:2008 certified and
CPRI, ERDA, and NABL accredited, multi
product and service organization engaged
in manufacturing, supplying, erecting, testing, and commissioning of Power and Distribution transformers of various ratings, which include 10 KVA, 50 MVA 132 kV class, up to the range of 160 MVA 220 kV class.

Website BSE NSE
  • Market Cap ₹ 2,038 Cr.
  • Current Price ₹ 118
  • High / Low ₹ 176 / 100
  • Stock P/E 46.1
  • Book Value ₹ 12.6
  • Dividend Yield 0.04 %
  • ROCE 24.4 %
  • ROE 26.2 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
  • Debtor days have improved from 378 to 160 days.

Cons

  • Stock is trading at 9.37 times its book value
  • Tax rate seems low
  • Company has high debtors of 160 days.
  • Promoter holding has decreased over last 3 years: -13.1%

* 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 Electrical Equipment Heavy Electrical Equipment

Part of BSE Industrials

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
0.00 0.00 0.65 3.77 29.88 38.51 44.17 55.80 47.03 59.80 45.94 92.65 49.26
0.00 0.68 0.33 3.17 24.83 32.70 40.00 45.67 39.72 51.23 39.07 73.59 42.03
Operating Profit 0.00 -0.68 0.32 0.60 5.05 5.81 4.17 10.13 7.31 8.57 6.87 19.06 7.23
OPM % 49.23% 15.92% 16.90% 15.09% 9.44% 18.15% 15.54% 14.33% 14.95% 20.57% 14.68%
0.79 0.00 0.01 0.03 0.36 1.81 2.37 -1.18 0.99 0.93 0.64 -0.01 0.75
Interest 0.00 0.00 0.00 0.00 0.03 0.01 0.04 0.06 0.10 0.09 0.80 0.37 0.36
Depreciation 0.00 0.77 0.18 0.18 0.14 0.14 0.18 -0.09 0.17 0.22 0.23 0.14 0.24
Profit before tax 0.79 -1.45 0.15 0.45 5.24 7.47 6.32 8.98 8.03 9.19 6.48 18.54 7.38
Tax % 0.00% -121.38% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -21.95% 19.78%
0.79 0.30 0.15 0.45 5.24 7.47 6.32 8.99 8.03 9.20 6.48 22.62 5.93
EPS in Rs 0.32 0.12 0.01 0.03 0.30 0.43 0.37 0.52 0.47 0.53 0.38 1.31 0.34
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Jun 2012 15m Mar 2016 9m Mar 2017 Mar 2018 Mar 2019 Mar 2024 Mar 2025 Mar 2026 TTM
106 116 103 100 17 0 6 168 245 248
93 104 90 97 64 20 5 143 203 206
Operating Profit 13 11 13 3 -47 -19 1 25 42 42
OPM % 12% 10% 12% 2.7% -283% -5,506% 18% 15% 17% 17%
-1 3 1 1 -8 -1 0 3 2 2
Interest 5 9 8 10 5 0 0 0 1 2
Depreciation 1 2 3 2 32 3 1 0 1 1
Profit before tax 6 3 3 -8 -93 -23 1 28 42 42
Tax % 7% 34% -21% 23% -1% -8% 0% 0% -10%
5 2 4 -10 -92 -22 1 28 46 44
EPS in Rs 2.07 0.88 1.66 -3.98 -36.63 -8.63 0.04 1.63 2.69 2.56
Dividend Payout % 24% 11% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 9%
5 Years: %
3 Years: %
TTM: 34%
Compounded Profit Growth
10 Years: 30%
5 Years: %
3 Years: %
TTM: 43%
Stock Price CAGR
10 Years: 20%
5 Years: 53%
3 Years: 171%
1 Year: -31%
Return on Equity
10 Years: %
5 Years: %
3 Years: 28%
Last Year: 26%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Jun 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2024 Mar 2025 Mar 2026
Equity Capital 25 25 25 25 25 25 14 17 17
Reserves 26 27 28 18 -74 -94 0 105 200
38 37 71 76 86 84 9 3 1
48 43 102 44 36 23 6 27 72
Total Liabilities 137 133 227 163 73 38 30 152 291
29 27 58 56 24 21 13 14 65
CWIP 0 1 0 0 0 0 0 0 0
Investments 10 10 10 10 0 0 0 37 25
98 94 158 96 49 17 17 101 200
Total Assets 137 133 227 163 73 38 30 152 291

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Jun 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2024 Mar 2025 Mar 2026
-15 5 27 4 -7 1 -4 -37 2
-0 -2 -25 -1 1 -0 -0 -36 12
10 -5 -3 -4 5 -2 4 74 -4
Net Cash Flow -5 -1 -1 -0 -0 -1 0 1 10
Free Cash Flow -16 4 30 4 -7 1 -4 -39 -0
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit -118% 54% 212% 159% 14% -4% -359% -138% 1%

Ratios

Consolidated / View Standalone

Mar 2011 Jun 2012 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2024 Mar 2025 Mar 2026
Debtor Days 209 116 372 144 907 10,126 827 148 160
Inventory Days 119 175 313 200 2 0 100 42 111
Days Payable 171 130 537 127 190 240 71 107
Cash Conversion Cycle 157 161 147 217 720 10,126 687 120 163
Working Capital Days 53 46 97 77 -696 -51,382 75 151 163
ROCE % 14% 2% -101% -89% 34% 24%

Insights

In beta
Mar 2025 Mar 2027 (P)
Manufacturing Capacity
MVA per annum ・Standalone data

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Capacity Utilization
% ・Standalone data
Cumulative Transformers Supplied
units ・Standalone data
Number of States Served Domestically
states ・Standalone data
Revenue Mix by Business Vertical
% of revenue ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

40 Recently
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
66.72% 66.24% 53.65% 53.65% 53.65% 53.65% 53.65% 53.65% 53.65% 53.65% 53.65% 53.65%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.04% 0.04% 0.12% 0.13% 1.06%
0.00% 0.00% 0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.15% 0.17% 0.18%
33.28% 33.76% 46.34% 46.34% 46.35% 46.34% 46.33% 46.31% 46.31% 46.08% 46.05% 45.12%
No. of Shareholders 12,44212,95513,38324,92134,18233,01430,54229,41928,14027,03530,67731,451

* 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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