Marushika Technology Ltd
Incorporated in 2010, Marushika Technology Ltd is in the business
of supplying, installing,, and commissioning information technology and telecom infrastructure products.[1]
- Market Cap ₹ 101 Cr.
- Current Price ₹ 118
- High / Low ₹ 123 / 78.1
- Stock P/E 11.2
- Book Value ₹ 55.3
- Dividend Yield 0.00 %
- ROCE 34.6 %
- ROE 28.9 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 37.0%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 181 days.
- Working capital days have increased from 60.9 days to 112 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
Information Technology Information Technology IT - Hardware Computers Hardware & Equipments
Part of Nifty SME Emerge
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 37 | 54 | 85 | 116 | |
| 35 | 49 | 74 | 100 | |
| Operating Profit | 2 | 6 | 11 | 16 |
| OPM % | 6% | 10% | 13% | 14% |
| 0 | 0 | 0 | 0 | |
| Interest | 1 | 2 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 1 |
| Profit before tax | 1 | 3 | 9 | 13 |
| Tax % | 27% | 27% | 25% | 29% |
| 0 | 2 | 6 | 9 | |
| EPS in Rs | 0.73 | 4.08 | 10.32 | 10.58 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 47% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 185% |
| TTM: | 40% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 37% |
| Last Year: | 29% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 0.78 | 0.87 | 6 | 9 |
| Reserves | 3 | 7 | 9 | 39 |
| 10 | 20 | 21 | 7 | |
| 17 | 19 | 17 | 32 | |
| Total Liabilities | 30 | 46 | 53 | 87 |
| 1 | 2 | 2 | 6 | |
| CWIP | 0 | 0 | 2 | 3 |
| Investments | 0 | 0 | 0 | 0 |
| 29 | 45 | 50 | 78 | |
| Total Assets | 30 | 46 | 53 | 87 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| -3 | -7 | -0 | 2 | |
| -1 | -0 | -2 | -6 | |
| 4 | 9 | 0 | 6 | |
| Net Cash Flow | 1 | 2 | -2 | 1 |
| Free Cash Flow | -3 | -7 | -3 | -0 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -131% | -114% | 9% | 27% |
Ratios
Standalone / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 238 | 252 | 171 | 181 |
| Inventory Days | 0 | 0 | 0 | 0 |
| Days Payable | ||||
| Cash Conversion Cycle | 238 | 252 | 171 | 181 |
| Working Capital Days | 23 | 25 | 46 | 112 |
| ROCE % | 27% | 34% | 35% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| IT & Telecom Vertical Share % |
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| Outstanding Order Book Rs Lakhs |
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Extracted by Screener AI
Documents
Announcements
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General Updates
- Submitted corporate governance non-applicability certificate for half-year ended September 30, 2026.
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Regulation 74(5) certificate for quarter ended September 30, 2026; no physical share certificates received for dematerialization.
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Trading Window
- Trading window closed from 1 October 2026 until 48 hours after half-year results.
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Shareholders meeting
- Marushika’s 16th AGM resolutions passed on 25 Sept 2026, including financial adoption and director appointments.
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Shareholders meeting
- Marushika held its 16th AGM on 25 Sep 2026, approved financials, reappointed Sonika Aggarwal, and appointed an independent director.
Concalls
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May 2026Transcript PPT REC
Business Overview:[1]
MTL delivers digital infrastructure and cybersecurity solutions across Data Centers, Cloud Services, Cybersecurity, Smart Cities, AI-powered Video Analytics, and Enterprise IT Services. The company enables governments, enterprises, and institutions to adopt future-ready technology. It is an emerging provider of technology-driven infrastructure and cybersecurity solutions.