---
title: "Marine Electricals (India) Ltd (MARINE) — Share Price, Financials & Analysis"
symbol: "MARINE"
company: "Marine Electricals (India) Ltd"
canonical: "https://tapetide.com/stocks/MARINE"
isin: "INE01JE01028"
nse_symbol: "MARINE"
sector: "Capital Goods"
industry: "Industrial Products"
market_cap_cr: 5552.99
generated_at: "2026-09-13T18:58:21.009Z"
---

# Marine Electricals (India) Ltd (MARINE)

Canonical page: https://tapetide.com/stocks/MARINE

## Company

- **NSE Symbol:** MARINE
- **ISIN:** INE01JE01028
- **Sector:** Capital Goods
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2020-12-02
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** marineelectricals.com

## About

Marine Electricals (India) Limited is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. [1]

## Latest Price

- **Price:** ₹419.15
- **Change:** +10.6 (+2.59%)
- **Open:** ₹413
- **Day High:** ₹425.65
- **Day Low:** ₹390
- **Previous Close:** ₹408.55
- **Volume:** 774758
- **As Of:** 2026-09-11T10:29:30+00:00

## Key Fundamentals

Observed at 2026-09-11T04:52:09.729412Z.

- **Market Cap:** ₹5552.99 Cr
- **Classification:** Microcap
- **P/E (reported):** 88.7
- **P/E (TTM):** 91.12
- **EPS (TTM):** ₹4.6
- **Book Value:** ₹35.22
- **Price to Book:** 11.61
- **Dividend Yield:** 0.07%
- **ROE:** 9.34%
- **ROCE:** 15.16%
- **Debt to Equity:** 0.18
- **Revenue (yearly):** ₹876.94 Cr
- **Net Income:** ₹57.85 Cr
- **EBITDA:** ₹93.27 Cr
- **52-Week High:** ₹450
- **52-Week Low:** ₹150.86
- **RSI (14):** 63.03

## Tapetide Score

- **Score:** 44 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 25 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 54.66 | 9% |
| growth | 60.39 | 9% |
| momentum | 98.9 | 12% |
| ownership | 55.4 | 24% |
| quality | 37.2 | 22% |
| valuation | 21.4 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 35.8% CAGR over last 5 years

### Weaknesses

- Stock is trading at 11.9 times its book value
- Company has a low return on equity of 12.2% over last 3 years.
- Company has high debtors of 178 days.
- Promoter holding has decreased over last 3 years: -6.26%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 853.26% | — | — |
| ebitda margin growth | -3.85% | -0.67% | 11.54% | 10.24% |
| net income growth | -5.91% | 51.84% | 52% | 36% |
| revenue growth | -6.23% | 12.37% | 26% | 28% |
| roce | -6.82% | -10.35% | 4.7% | 14.97% |
| roe | -5.71% | -7.34% | 9.08% | 17.34% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 137 | 147 | 237 | 138 | 184 | 194 | 251 | 167 | 222 | 210 | 277 | 259 |
| Expenses | 127 | 135 | 217 | 125 | 163 | 182 | 228 | 150 | 196 | 190 | 246 | 231 |
| Operating Profit | 10 | 11 | 20 | 13 | 21 | 11 | 22 | 17 | 26 | 20 | 32 | 28 |
| OPM % | 7 | 8 | 9 | 10 | 12 | 6 | 9 | 10 | 12 | 10 | 11 | 11 |
| Other Income | 2 | 1 | 4 | 3 | 2 | 4 | 4 | 5 | 4 | 4 | 2 | 4 |
| Interest | 3 | 3 | 4 | 3 | 4 | 4 | 3 | 3 | 4 | 4 | 8 | 4 |
| Depreciation | 2 | 3 | 3 | 3 | 4 | 4 | 4 | 3 | 4 | 4 | 4 | 5 |
| Profit before tax | 7 | 7 | 17 | 10 | 16 | 8 | 18 | 15 | 22 | 16 | 22 | 24 |
| Tax % | 30 | 23 | 28 | 27 | 21 | 40 | 27 | 25 | 26 | 24 | 17 | 26 |
| Net Profit | 5 | 5 | 12 | 7 | 13 | 5 | 14 | 12 | 17 | 12 | 19 | 18 |
| EPS in Rs | 0.37 | 0.38 | 0.96 | 0.54 | 0.92 | 0.38 | 0.97 | 0.84 | 1.2 | 0.85 | 1.32 | 1.23 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 369 | 400 | 263 | 251 | 376 | 443 | 622 | 767 | 877 | 969 |
| Expenses | 337 | 378 | 240 | 224 | 344 | 404 | 570 | 698 | 782 | 863 |
| Operating Profit | 31 | 22 | 22 | 27 | 32 | 39 | 52 | 69 | 94 | 106 |
| OPM % | 9 | 6 | 9 | 11 | 9 | 9 | 8 | 9 | 11 | 11 |
| Other Income | 3 | 4 | 6 | 8 | 4 | 5 | 7 | 13 | 15 | 14 |
| Interest | 7 | 8 | 11 | 9 | 7 | 10 | 12 | 14 | 19 | 20 |
| Depreciation | 5 | 5 | 10 | 9 | 9 | 8 | 10 | 16 | 15 | 16 |
| Profit before tax | 23 | 13 | 8 | 17 | 19 | 25 | 36 | 52 | 76 | 84 |
| Tax % | 28 | 29 | 24 | 20 | 32 | 33 | 29 | 27 | 23 | — |
| Net Profit | 16 | 9 | 6 | 14 | 13 | 17 | 26 | 38 | 59 | 65 |
| EPS in Rs | 1.75 | 0.75 | 0.46 | 1.05 | 1.06 | 1.35 | 1.95 | 2.79 | 4.17 | 4.6 |
| Dividend Payout % | 0 | 0 | 0 | 19 | 0 | 0 | 10 | 11 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 17 | 18 | 25 | 25 | 25 | 25 | 25 | 27 | 28 | 28 |
| Reserves | 58 | 78 | 130 | 126 | 138 | 150 | 183 | 224 | 376 | 465 |
| Borrowings | 40 | 46 | 57 | 56 | 58 | 37 | 66 | 97 | 55 | 89 |
| Other Liabilities | 112 | 212 | 162 | 176 | 162 | 162 | 192 | 268 | 266 | 309 |
| Total Liabilities | 227 | 354 | 373 | 383 | 383 | 373 | 466 | 616 | 725 | 890 |
| Fixed Assets | 56 | 39 | 43 | 53 | 48 | 49 | 66 | 75 | 75 | 99 |
| CWIP | 0 | 14 | 14 | 0 | 0 | 2 | 0 | 6 | 16 | 14 |
| Investments | 0 | 3 | 3 | 5 | 3 | 3 | 3 | 6 | 6 | 3 |
| Other Assets | 171 | 297 | 313 | 325 | 331 | 319 | 396 | 529 | 627 | 775 |
| Total Assets | 227 | 354 | 373 | 383 | 383 | 373 | 466 | 616 | 725 | 890 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 13 | 31 | -53 | 23 | 2 | 47 | -2 | -7 | 55 | -16 |
| Cash from Investing Activity | -16 | -23 | 1 | -1 | 1 | -19 | -28 | -21 | -95 | -17 |
| Cash from Financing Activity | 2 | 3 | 44 | -19 | -7 | -31 | 31 | 32 | 52 | 37 |
| Net Cash Flow | -1 | 11 | -9 | 3 | -3 | -3 | 1 | 4 | 12 | 4 |
| Free Cash Flow | -5 | 24 | -61 | 23 | -2 | 37 | -24 | -32 | 35 | -43 |
| CFO/OP | 74 | 118 | -205 | 111 | 18 | 167 | 13 | 4 | 106 | 6 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 148 | 182 | 174 | 235 | 252 | 167 | 186 | 186 | 157 | 178 |
| Inventory Days | 73 | 61 | 64 | 146 | 166 | 102 | 71 | 72 | 52 | 50 |
| Days Payable | 168 | 209 | 154 | 292 | 267 | 159 | 161 | 167 | 129 | 135 |
| Cash Conversion Cycle | 52 | 33 | 84 | 90 | 152 | 110 | 96 | 91 | 80 | 93 |
| Working Capital Days | 76 | 16 | 87 | 121 | 157 | 108 | 95 | 79 | 129 | 104 |
| ROCE % | 21 | 22 | 12 | 9 | 12 | 12 | 14 | 15 | 16 | 18 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.84% | 72.87% | 71.98% | 71.17% | 71.17% | 68.45% | 68.45% | 68.45% | 68.46% | 68.54% | 73.52% | 68.2% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.65% | 0% | 1.12% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.12% | 0% | 0.41% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 23.58% | 23.05% | 23.81% | 24.1% | 24.84% | 26.13% | 26.94% | 27.03% | 26.45% | 26.1% | 15.46% | 25.25% |
| Others | 2.58% | 4.08% | 4.21% | 4.73% | 3.99% | 5.43% | 4.61% | 4.52% | 5.1% | 4.59% | 11.02% | 5.02% |
| No. of Shareholders | 51594 | 49305 | 49509 | 55983 | 83504 | 89628 | 93629 | 99332 | 94688 | 6794 | 252 | 86580 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 5 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 421.29 | Sell |
| EMA (10) | 413.78 | Buy |
| SMA (20) | 399.5 | Buy |
| EMA (20) | 396.42 | Buy |
| SMA (50) | 329.84 | Buy |
| EMA (50) | 348.66 | Buy |
| SMA (100) | 287.69 | Buy |
| EMA (100) | 304.29 | Buy |
| SMA (200) | 241.19 | Buy |
| EMA (200) | 263.96 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 66.24 | Neutral |
| MACD (12,26,9) | 25.72 | Sell |
| Stochastic (14,3,3) | 60.89 | Neutral |
| ADX (14) | 54.88 | Buy |
| Williams %R (14) | -35.85 | Neutral |
| ATR (14) | 20.84 | High Volatility |
| ROC (12) | 11.61 | Buy |
| Stoch RSI (14) | 18.6 | Buy |
| UO (7,14,28) | 44.24 | Neutral |

## Analyst Ratings

| Recommendation | Analysts | Share |
| --- | --- | --- |
| Buy | 1 | 100% |
| Hold | 0 | 0% |
| Sell | 0 | 0% |

Based on 1 analyst ratings, observed at 2026-09-11T04:52:09.472845+00:00.

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-07 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/MARINE_07092026135723_Signed_Notice_and_Annual_Report_2026__2_.pdf) |
| 2026-09-07 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/MARINE_07092026181711_Signed_Regulation_30_Newspaper_Publication.pdf) |
| 2026-09-06 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/MARINE_06092026000501_Signed_Regulation_30_Annual_Report_2026.pdf) |
| 2026-09-06 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/MARINE_06092026151615_Signed_Regulation_Notice__Annual_Report_.pdf) |
| 2026-09-05 | [Updates](https://nsearchives.nseindia.com/corporate/MARINE_05092026212649_Signed_Regulation_30_BRSR_.pdf) |
| 2026-09-05 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/MARINE_05092026211912_Signed_Regulation_30_Notice__Annual_Report.pdf) |
| 2026-09-04 | [Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/MARINE_04092026114537_Signed_Regulation_30_DXDC__Micron.pdf) |
| 2026-09-01 | [Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/MARINE_01092026095720_Regulation_30_Signed_Digital_Edge_DC_India.pdf) |
| 2026-08-31 | [Bagging/Receiving of orders/contracts](https://nsearchives.nseindia.com/corporate/MARINE_31082026133729_Signed_Classic__PDG_Group.pdf) |
| 2026-08-17 | [Press Release](https://nsearchives.nseindia.com/corporate/MARINE_17082026095957_Press_Release_for_the_Quarter_Ended_June_2026.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MARINE_14082026190441_Signed_Regulation_30_outcome_of_board_meeting.pdf) |
| 2026-05-27 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MARINE_27052026184109_Final_Signed_Regulation_30_Financials.pdf) |
| 2026-02-11 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MARINE_11022026193942_Signed_Regulation_30_outcome.pdf) |
| 2025-11-03 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MARINE_03112025174314_Regulation_30_Outcome_of_BM_Signed.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 10 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 10 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/get-quotes/equity?symbol=MARINE) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_31621_MARINE_2025_2026_A_6301876_05092026211745.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28645_MARINE_2024_2025_A_3207230_05092025190617.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_25907_MARINE_2023_2024_0509202420178.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23217_MARINE_2022_2023_01092023185700_09012023190016.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_20844_MARINE_2021_2022_25082022173336_08252022180005.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/AR_19231_MARINE_2020_2021_03092021115823_09032021120008.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2020 | [Concall - Sep 2020](https://archives.nseindia.com/corporate/MARINE_29092020161415_MEIL_INVESTORPRESENTATION.pdf) |
| Oct 2025 | [Concall - Oct 2025](https://nsearchives.nseindia.com/corporate/MARINE_11102025111048_Regulation_30_Investor_Presentation_uploaded_stock_exchange_Signed.pdf) |
| Jun 2022 | [Concall - Jun 2022](https://archives.nseindia.com/corporate/MARINE_14062022144656_InvestorPresentationQ4and2022.pdf) |
| Jun 2021 | [Concall - Jun 2021](https://archives.nseindia.com/corporate/MARINE_09062021151207_MEILInvestorpresentation2021.pdf) |
| Feb 2021 | [Concall - Feb 2021](https://archives.nseindia.com/corporate/MARINE_23022021160626_MEIL_InvestorPresentation_feb_2021.pdf) |
| Aug 2021 | [Concall - Aug 2021](https://archives.nseindia.com/corporate/MARINE_16082021155314_MEILInvestor_PresenataionFY22Q1.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:21.009Z.