Marsons Ltd
Incorporated in 1976, Marsons Ltd
is engaged in manufacturing of transformers in the capacity range of 100 MVA 132KV class[1]
- Market Cap ₹ 2,901 Cr.
- Current Price ₹ 169
- High / Low ₹ 232 / 120
- Stock P/E 88.6
- Book Value ₹ 8.12
- Dividend Yield 0.03 %
- ROCE 33.8 %
- ROE 36.5 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Debtor days have improved from 487 to 148 days.
Cons
- Stock is trading at 20.8 times its book value
- Promoter holding has decreased over last 3 years: -21.4%
* 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 Other Electrical Equipment
Part of BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 106 | 116 | 103 | 100 | 17 | 0 | 6 | 168 | 209 | |
| 93 | 104 | 90 | 97 | 64 | 20 | 5 | 143 | 176 | |
| Operating Profit | 13 | 11 | 13 | 3 | -47 | -19 | 1 | 25 | 33 |
| OPM % | 12% | 10% | 12% | 3% | -283% | -5,506% | 18% | 15% | 16% |
| -1 | 3 | 1 | 1 | -8 | -1 | 0 | 3 | 1 | |
| Interest | 5 | 9 | 8 | 10 | 5 | 0 | 0 | 0 | 1 |
| Depreciation | 1 | 2 | 3 | 2 | 32 | 3 | 1 | 0 | 1 |
| Profit before tax | 6 | 3 | 3 | -8 | -93 | -23 | 1 | 28 | 33 |
| Tax % | 7% | 34% | -21% | 23% | -1% | -8% | 0% | 0% | |
| 5 | 2 | 4 | -10 | -92 | -22 | 1 | 28 | 33 | |
| EPS in Rs | 2.07 | 0.88 | 1.66 | -3.98 | -36.63 | -8.63 | 0.04 | 1.63 | 1.90 |
| Dividend Payout % | 24% | 11% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 79% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 68% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 33% |
| 5 Years: | 71% |
| 3 Years: | 191% |
| 1 Year: | -9% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 36% |
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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 25 | 25 | 25 | 25 | 25 | 25 | 14 | 17 | 17 |
| Reserves | 26 | 27 | 28 | 18 | -74 | -94 | 0 | 105 | 123 |
| 38 | 37 | 71 | 76 | 86 | 84 | 9 | 3 | 3 | |
| 48 | 43 | 102 | 44 | 36 | 23 | 6 | 27 | 24 | |
| Total Liabilities | 137 | 133 | 227 | 163 | 73 | 38 | 30 | 152 | 167 |
| 29 | 27 | 58 | 56 | 24 | 21 | 13 | 14 | 15 | |
| CWIP | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 26 |
| Investments | 10 | 10 | 10 | 10 | 0 | 0 | 0 | 37 | 0 |
| 98 | 94 | 158 | 96 | 49 | 17 | 17 | 101 | 126 | |
| Total Assets | 137 | 133 | 227 | 163 | 73 | 38 | 30 | 152 | 167 |
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 | |
|---|---|---|---|---|---|---|---|---|
| -15 | 5 | 27 | 4 | -7 | 1 | -4 | -35 | |
| -0 | -2 | -25 | -1 | 1 | -0 | -0 | -38 | |
| 10 | -5 | -3 | -4 | 5 | -2 | 4 | 74 | |
| Net Cash Flow | -5 | -1 | -1 | -0 | -0 | -1 | 0 | 1 |
| Free Cash Flow | -16 | 4 | 30 | 4 | -7 | 1 | -4 | -37 |
| CFO/OP | -118% | 54% | 212% | 159% | 14% | -4% | -359% | -131% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2011 | Jun 2012 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 209 | 116 | 372 | 144 | 907 | 10,126 | 827 | 148 |
| Inventory Days | 119 | 175 | 313 | 200 | 2 | 0 | 100 | 42 |
| Days Payable | 171 | 130 | 537 | 127 | 190 | 240 | 71 | |
| Cash Conversion Cycle | 157 | 161 | 147 | 217 | 720 | 10,126 | 687 | 120 |
| Working Capital Days | 53 | 46 | 97 | 77 | -696 | -51,382 | 75 | 151 |
| ROCE % | 14% | 2% | -101% | -89% | 34% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2027 (P) | |
|---|---|---|---|---|
| Maximum Transformer Power Rating MVA ・Standalone data |
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| Maximum Transformer Voltage Class kV ・Standalone data |
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| Manufacturing Capacity MVA/year ・Standalone data |
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| Capacity Utilization % ・Standalone data |
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| Cumulative Transformers Supplied (60 Years) Units ・Standalone data |
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| Manufacturing Plant Area sq. m. ・Standalone data |
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| Order Book INR Crores ・Standalone data |
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| Receivable Cycle Days ・Standalone data |
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| Target Manufacturing Capacity (FY27) MVA/year ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
17 Apr - Marsons received ₹15.38 crore purchase orders from Inox Solar for 3.15, 3.5 and 35 MVA transformers.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
13 Apr - Compliance regarding confirmation of dematerialisation as per section 74(5) of SEBI (Depositories and participants) Regulations, 2018 for the period 01.01.2026 to 31.03.2026 as given by …
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Announcement Under Regulation 30 (LODR) -Audio Recordings For Conference Call
1 Apr - Marsons submitted transformer repair offer to WBSETCL (conference call Apr 1, 2026), itemized charges INR 5k–25k.
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Announcement Under Regulation 30 (LODR)- Intimation Of Conference Call
26 Mar - Conference call on 1 Apr 2026 15:00 IST; ₹137,500 repair estimate for 630 kVA transformer.
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Closure of Trading Window
26 Mar - Transformer repair estimates totaling ~INR137,500; trading-window closed from Apr 1, 2026 until post-results.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from bse
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.