Marushika Technology Ltd
Marushika Technology Limited distributes IT and telecom infrastructure products.[1]
- Market Cap ₹ 85.2 Cr.
- Current Price ₹ 99.8
- High / Low ₹ 123 / 93.1
- Stock P/E 13.2
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 34.4 %
- ROE 55.9 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 44.1%
- Debtor days have improved from 220 to 171 days.
Cons
- Company has high debtors of 171 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 36.99 | 54.44 | 85.25 | |
| 34.95 | 48.85 | 74.24 | |
| Operating Profit | 2.04 | 5.59 | 11.01 |
| OPM % | 5.52% | 10.27% | 12.91% |
| 0.04 | 0.22 | 0.38 | |
| Interest | 1.34 | 2.17 | 2.39 |
| Depreciation | 0.19 | 0.25 | 0.39 |
| Profit before tax | 0.55 | 3.39 | 8.61 |
| Tax % | 27.27% | 26.84% | 25.20% |
| 0.40 | 2.49 | 6.44 | |
| EPS in Rs | 5.12 | 28.68 | 10.33 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 57% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 159% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 44% |
| Last Year: | 56% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Equity Capital | 0.78 | 0.87 | 6.23 |
| Reserves | 3.03 | 6.93 | 9.01 |
| 9.80 | 19.64 | 21.37 | |
| 16.82 | 19.03 | 16.53 | |
| Total Liabilities | 30.43 | 46.47 | 53.14 |
| 1.40 | 1.64 | 1.92 | |
| CWIP | 0.00 | 0.00 | 1.65 |
| Investments | 0.00 | 0.03 | 0.03 |
| 29.03 | 44.80 | 49.54 | |
| Total Assets | 30.43 | 46.47 | 53.14 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| -2.95 | -6.56 | 0.74 | |
| -0.63 | -0.50 | -3.31 | |
| 4.22 | 9.40 | 0.42 | |
| Net Cash Flow | 0.64 | 2.34 | -2.15 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 238.40 | 252.43 | 170.62 |
| Inventory Days | 0.00 | 0.00 | 0.00 |
| Days Payable | |||
| Cash Conversion Cycle | 238.40 | 252.43 | 170.62 |
| Working Capital Days | 23.19 | 24.61 | 45.64 |
| ROCE % | 27.09% | 34.35% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
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| Outstanding Order Book ₹ Lakhs |
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| Repeat Customer Count Number |
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| Revenue Concentration (Top 10 Customers) % |
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| Revenue Contribution - Delhi % |
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| Revenue from Repeat Customers ₹ Lakhs |
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| Supplier Concentration (Top 10 Suppliers) % |
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| Total Customer Count Number |
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| Tender Bid Success Rate % |
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Documents
Announcements
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Press Release
9 March 2026 - MTL engaged by BEL for DMRC IP-PBX DS-12; contract ~₹31.19 Crore; 58% executed; Phase-IV inaugurated Mar 8, 2026.
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Press Release
26 February 2026 - MTL signed Master Business Partner Agreement Feb 25, 2026 to non-exclusive distribute Graymatics' AI video analytics across India.
Business Profile[1]
Marushika Technology Limited (MTL) is an IT & Telecom Infrastructure distribution and solutions company with operations spanning IT infrastructure, smart city solutions, and auto-tech solutions for defence. The company operates largely as a value-added distributor (VAD) and system execution partner for government and PSU-led infrastructure projects.