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 ₹ 55.4
- Dividend Yield 0.00 %
- ROCE 33.8 %
- ROE 28.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.5%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 182 days.
- Working capital days have increased from 60.5 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| 61 | 85 | 116 | |
| 54 | 74 | 100 | |
| Operating Profit | 6 | 11 | 16 |
| OPM % | 10% | 13% | 14% |
| 0 | 0 | 0 | |
| Interest | 2 | 2 | 3 |
| Depreciation | 0 | 0 | 1 |
| Profit before tax | 4 | 8 | 13 |
| Tax % | 23% | 26% | 29% |
| 3 | 6 | 9 | |
| EPS in Rs | 5.15 | 10.08 | 10.48 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
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| TTM: | 43% |
| Stock Price CAGR | |
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| Return on Equity | |
|---|---|
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| 3 Years: | 36% |
| Last Year: | 29% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Equity Capital | 0.87 | 6 | 9 |
| Reserves | 8 | 9 | 39 |
| 20 | 21 | 7 | |
| 20 | 17 | 33 | |
| Total Liabilities | 48 | 54 | 87 |
| 2 | 2 | 6 | |
| CWIP | 0 | 2 | 3 |
| Investments | 0 | 0 | 2 |
| 47 | 50 | 76 | |
| Total Assets | 48 | 54 | 87 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| -6 | -0 | 2 | |
| -0 | -2 | -6 | |
| 9 | 0 | 6 | |
| Net Cash Flow | 3 | -2 | 1 |
| Free Cash Flow | -7 | -2 | -5 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -99% | 11% | 26% |
Ratios
Consolidated / View Standalone
| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Debtor Days | 237 | 172 | 182 |
| Inventory Days | 0 | 0 | 0 |
| Days Payable | |||
| Cash Conversion Cycle | 237 | 172 | 182 |
| Working Capital Days | 25 | 44 | 112 |
| ROCE % | 33% | 34% |
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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| New Orders Added 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.