---
title: "Marvel Decor Ltd (MDL) — Share Price, Financials & Analysis"
symbol: "MDL"
company: "Marvel Decor Ltd"
canonical: "https://tapetide.com/stocks/MDL"
isin: "INE575Z01010"
nse_symbol: "MDL"
sector: "Consumer Goods"
industry: "Home Furnishing"
market_cap_cr: 109.99
generated_at: "2026-09-13T18:36:15.597Z"
---

# Marvel Decor Ltd (MDL)

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

## Company

- **NSE Symbol:** MDL
- **ISIN:** INE575Z01010
- **Sector:** Consumer Goods
- **Industry:** Home Furnishing
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2018-03-23
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** marvellifestyle.com

## About

Incorporated in 1996, Marvel Decor Ltd is in the business of manufacturing and supplying window covering fashion 
blinds and components.[1]

## Latest Price

- **Price:** ₹62
- **Change:** 0 (0%)
- **Open:** ₹62
- **Day High:** ₹62
- **Day Low:** ₹62
- **Previous Close:** ₹62
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:41+00:00

## Key Fundamentals

Observed at 2026-09-11T04:41:13.440937Z.

- **Market Cap:** ₹109.99 Cr
- **Classification:** SME
- **P/E (reported):** 25.3
- **Book Value:** ₹37.38
- **Price to Book:** 1.66
- **Dividend Yield:** 0%
- **ROE:** 6.55%
- **ROCE:** 8.67%
- **Debt to Equity:** 0.32
- **Revenue (yearly):** ₹72.2 Cr
- **Net Income:** ₹4.3 Cr
- **EBITDA:** ₹8.6 Cr
- **52-Week High:** ₹104.8
- **52-Week Low:** ₹43
- **RSI (14):** 51.91

## Tapetide Score

- **Score:** 40 / 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:** 14.5 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 60.57 | 9% |
| growth | 55.3 | 9% |
| momentum | 83.85 | 12% |
| ownership | 50 | 24% |
| quality | 32.38 | 22% |
| valuation | 25.87 | 24% |

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

## Key Insights

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 6.79% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.3.60 Cr.
- Promoter holding has decreased over last 3 years: -5.50%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 85.53% | -40.43% | -135.48% |
| ebitda margin growth | 4.3% | 1.98% | -6.69% | -4.59% |
| net income growth | 1.4% | 13.16% | 30% | 150% |
| revenue growth | 17.7% | 12.46% | 11% | 20% |
| roce | 0% | -3.77% | -11.8% | 8.52% |
| roe | 0% | 7.2% | 6.33% | 92.08% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 9.62 | 18.23 | 19.51 | 21.71 | 23.43 | 26.23 | 26.2 | 27.23 | 30.9 | 32.2 | 36.97 | 31.51 |
| Expenses | 10.75 | 14.39 | 18.32 | 19.18 | 22.97 | 23.49 | 23.14 | 23.88 | 27.25 | 29.43 | 34.46 | 29.19 |
| Operating Profit | -1.13 | 3.84 | 1.19 | 2.53 | 0.46 | 2.74 | 3.06 | 3.35 | 3.65 | 2.77 | 2.51 | 2.32 |
| OPM % | -11.75 | 21.06 | 6.1 | 11.65 | 1.96 | 10.45 | 11.68 | 12.3 | 11.81 | 8.6 | 6.79 | 7.36 |
| Other Income | 0.33 | 0.53 | 0.9 | 0.69 | 2.16 | 0.62 | 0.32 | 0.15 | 0.31 | 0.74 | 1.58 | 2.06 |
| Interest | 0.56 | 0.65 | 0.71 | 0.85 | 0.73 | 0.78 | 0.82 | 0.76 | 0.67 | 0.86 | 0.86 | 0.63 |
| Depreciation | 1.07 | 1.07 | 0.95 | 1.02 | 0.88 | 1.02 | 0.84 | 0.88 | 0.76 | 0.96 | 0.95 | 1.08 |
| Profit before tax | -2.43 | 2.65 | 0.43 | 1.35 | 1.01 | 1.56 | 1.72 | 1.86 | 2.53 | 1.69 | 2.28 | 2.67 |
| Tax % | -2.06 | 7.55 | 23.26 | 8.89 | 14.85 | 10.26 | 14.53 | 6.45 | 11.46 | 6.51 | 9.65 | 14.61 |
| Net Profit | -2.38 | 2.46 | 0.33 | 1.23 | 0.86 | 1.39 | 1.48 | 1.74 | 2.25 | 1.58 | 2.06 | 2.28 |
| EPS in Rs | -1.52 | 1.58 | 0.25 | 0.62 | 0.5 | 0.82 | 0.87 | 1.02 | 1.27 | 0.89 | 1.16 | 1.29 |

### 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 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 31.52 | 25.77 | 29.12 | 27.51 | 40.8 | 49.26 | 53.03 | 62.68 | 67.71 |
| Expenses | 23.5 | 19.11 | 24.78 | 24.67 | 37.07 | 46.04 | 46.89 | 56.26 | 62.85 |
| Operating Profit | 8.02 | 6.66 | 4.34 | 2.84 | 3.73 | 3.22 | 6.14 | 6.42 | 4.86 |
| OPM % | 25.44 | 25.84 | 14.9 | 10.32 | 9.14 | 6.54 | 11.58 | 10.24 | 7.18 |
| Other Income | 0.18 | 0.73 | 0.89 | 0.82 | 1.59 | 2.76 | 0.74 | 1.05 | 3.6 |
| Interest | 2.16 | 0.51 | 1.33 | 1.3 | 1.56 | 1.51 | 1.58 | 1.53 | 1.48 |
| Depreciation | 1.82 | 1.97 | 2.29 | 2.14 | 1.97 | 1.9 | 1.71 | 1.72 | 2.03 |
| Profit before tax | 4.22 | 4.91 | 1.61 | 0.22 | 1.79 | 2.57 | 3.59 | 4.22 | 4.95 |
| Tax % | 26.3 | 28.92 | 55.9 | 68.18 | 12.29 | 12.06 | 10.31 | 9.48 | 12.12 |
| Net Profit | 3.11 | 3.5 | 0.72 | 0.07 | 1.57 | 2.26 | 3.22 | 3.82 | 4.34 |
| EPS in Rs | 1.83 | 2.05 | 0.16 | 0.02 | 0.79 | 1.19 | 1.89 | 2.15 | 2.45 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 17.04 | 17.04 | 17.04 | 17.04 | 17.04 | 17.04 | 17.04 | 17.74 | 17.74 |
| Reserves | 22.57 | 25.47 | 26.69 | 26.79 | 28.28 | 30.56 | 33.73 | 44.87 | 48.58 |
| Borrowings | 2.32 | 5.02 | 11.22 | 11.13 | 11.11 | 13.83 | 14.24 | 15.71 | 21.36 |
| Other Liabilities | 7.81 | 11.13 | 11.14 | 8.71 | 10.06 | 9.99 | 11.35 | 11.81 | 13.04 |
| Total Liabilities | 49.74 | 58.66 | 66.09 | 63.67 | 66.49 | 71.42 | 76.36 | 90.13 | 100.72 |
| Fixed Assets | 12.59 | 15.49 | 17.57 | 15.95 | 15.85 | 15.65 | 14.54 | 16.8 | 18.83 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 37.15 | 43.17 | 48.52 | 47.72 | 50.64 | 55.77 | 61.82 | 73.33 | 81.89 |
| Total Assets | 49.74 | 58.66 | 66.09 | 63.67 | 66.49 | 71.42 | 76.36 | 90.13 | 100.72 |

### Cash Flow

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 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | -7.04 | 2.57 | 3.17 | 1.86 | -0.68 | -0.47 | -4.56 | -0.66 |
| Cash from Investing Activity | — | -4.69 | -4.52 | -1.01 | -2.73 | -1.33 | 0.12 | -4.17 | -5.46 |
| Cash from Financing Activity | — | 0.38 | 1.11 | -1.04 | -0.17 | 2.14 | 0.41 | 9.48 | 5.66 |
| Net Cash Flow | — | -11.34 | -0.83 | 1.12 | -1.04 | 0.13 | 0.06 | 0.75 | -0.46 |
| Free Cash Flow | — | -11.83 | -1.81 | 2.65 | -0.02 | -2.38 | -1.07 | -8.45 | -4.76 |
| CFO/OP | — | -85 | 80 | 117 | 56 | -11 | -2 | -65 | -1 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 73.07 | 67.28 | 77.71 | 71.25 | 50.19 | 59.57 | 69.93 | 76.34 | 91.75 |
| Inventory Days | 635.99 | 2672.53 | 1113.66 | 1170.18 | 906.44 | 779.9 | 841.54 | 790.19 | 842.28 |
| Days Payable | 141.98 | 421.28 | 191.04 | 202.81 | 156.16 | 150.84 | 146.33 | 138.37 | 176.23 |
| Cash Conversion Cycle | 567.08 | 2318.53 | 1000.33 | 1038.61 | 800.47 | 688.64 | 765.14 | 728.16 | 757.8 |
| Working Capital Days | 240.75 | 395.59 | 343.94 | 374.95 | 253.35 | 223.77 | 238.56 | 252.79 | 269.86 |
| ROCE % | — | 11.93 | 5.67 | 2.78 | 5.95 | 6.92 | 8.16 | 8.15 | 7.92 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.91% | 72.91% | 72.91% | 72.91% | 72.91% | 72.91% | 72.91% | 70.03% | 70.03% | 67.41% | 67.41% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 23.17% | 23.32% | 23.74% | 23.81% | 23.34% | 23.82% | 20.96% | 20.39% | 19.6% | 21.74% | 21.64% |
| Others | 3.92% | 3.77% | 3.35% | 3.28% | 3.75% | 3.27% | 6.13% | 9.57% | 10.36% | 10.85% | 10.95% |
| No. of Shareholders | 358 | 345 | 344 | 347 | 345 | 400 | 402 | 425 | 445 | 456 | 442 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 7 / 4 / 8

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 56.19 | Buy |
| EMA (10) | 58.45 | Buy |
| SMA (20) | 59.42 | Buy |
| EMA (20) | 59.98 | Buy |
| SMA (50) | 67.19 | Sell |
| EMA (50) | 62.19 | Sell |
| SMA (100) | 59.52 | Buy |
| EMA (100) | 62.83 | Sell |
| SMA (200) | 67.7 | Sell |
| EMA (200) | 68.63 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 51.91 | Neutral |
| MACD (12,26,9) | -2.3 | Buy |
| Stochastic (14,3,3) | 76.79 | Neutral |
| ADX (14) | 25.73 | Buy |
| Williams %R (14) | -15.38 | Sell |
| ATR (14) | 2.31 | High Volatility |
| ROC (12) | -3.13 | Sell |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 69.79 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 January 2026 - Registrar certifies no securities dematerialized/rematerialized for quarter ended 31 Dec 2025. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 January 2026 - Registrar certifies no securities dematerialized/rematerialized for quarter ended 31 Dec 2025.](https://nsearchives.nseindia.com/corporate/MDL_08012026185729_Reg74_5_MDL_Dec25_.pdf) |
| 7 Sep - Marvel Decor issued corrigendum and revised FY2025-26 annual report on 7 Sep 2026. | [Corrigendum 7 Sep - Marvel Decor issued corrigendum and revised FY2025-26 annual report on 7 Sep 2026.](https://nsearchives.nseindia.com/corporate/MDL_07092026183641_Corrigendum_NSE.pdf) |
| 4 April 2026 - 04 Apr 2026 corrigendum to EGM notice revises preferential warrant issue wording. | [Corrigendum 4 April 2026 - 04 Apr 2026 corrigendum to EGM notice revises preferential warrant issue wording.](https://nsearchives.nseindia.com/corporate/MDL_04042026130912_Covering_Corrigendum.pdf) |
| 30 May 2026 - Board approved audited FY26 standalone and consolidated results; consolidated profit reached ₹434.25 lakh. | [Outcome of Board Meeting 30 May 2026 - Board approved audited FY26 standalone and consolidated results; consolidated profit reached ₹434.25 lakh.](https://nsearchives.nseindia.com/corporate/MDL_30052026173344_FR_March26.pdf) |
| 30 March 2026 - Trading window closed Apr 01, 2026 until 48 hours after results for year/half-year ended Mar 31, 2026.','checklist':['Read announcement to identify event','Determine regulatory nature and impacted … | [Trading Window 30 March 2026 - Trading window closed Apr 01, 2026 until 48 hours after results for year/half-year ended Mar 31, 2026.','checklist':['Read announcement to identify event','Determine regulatory nature and impacted …](https://nsearchives.nseindia.com/corporate/MDL_30032026111341_TWC_Mar26.pdf) |
| 30 April 2026 - Board allotted 12,00,000 convertible warrants on preferential basis at Rs55.50, raising Rs6.66 crore potential capital. | [Allotment of Securities 30 April 2026 - Board allotted 12,00,000 convertible warrants on preferential basis at Rs55.50, raising Rs6.66 crore potential capital.](https://nsearchives.nseindia.com/corporate/MDL_30042026151712_Allotment_OutcomeBM_30042026.pdf) |
| 3 Jun - Marvel Decor won an international purchase order worth INR 6.80 crore, executable within six months. | [Bagging/Receiving of orders/contracts 3 Jun - Marvel Decor won an international purchase order worth INR 6.80 crore, executable within six months.](https://nsearchives.nseindia.com/corporate/MDL_03062026201756_Announcement_03062026.pdf) |
| 25 Jun - Marvel Decor filed FY25 results, corrected UDIN, and reported no deviation in Rs.805 lakh preferential proceeds. | [Reply to Clarification- Financial results 25 Jun - Marvel Decor filed FY25 results, corrected UDIN, and reported no deviation in Rs.805 lakh preferential proceeds.](https://nsearchives.nseindia.com/corporate/MDL_03072025193200_Resubmission_03072025_Signed.pdf) |
| 24 March 2026 - EGM on April 18, 2026 to approve up to 12,00,000 warrants at Rs.55.50, aggregating Rs.6.66 crore. | [Shareholders meeting 24 March 2026 - EGM on April 18, 2026 to approve up to 12,00,000 warrants at Rs.55.50, aggregating Rs.6.66 crore.](https://nsearchives.nseindia.com/corporate/MDL_24032026203526_Notice_F.pdf) |
| 24 March 2026 - Board approved up to 12,00,000 warrants at Rs.55.50 each, raising Rs.6.66 crore; EGM on April 18, 2026. | [Preferential issue 24 March 2026 - Board approved up to 12,00,000 warrants at Rs.55.50 each, raising Rs.6.66 crore; EGM on April 18, 2026.](https://nsearchives.nseindia.com/corporate/MDL_24032026135632_Outcome_24032026.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31093_MDL_2025_2026_A_3485156_02092026152907.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28689_MDL_2024_2025_A_9104763_05092025210537.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25835_MDL_2023_2024_05092024171058.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23501_MDL_2022_2023_05092023160624_09052023170024.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/SME_AR_21231_MDL_2021_2022_03092022171202_09032022180006.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/SME_AR_19421_MDL_2020_2021_05092021105219_09052021110002.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/SME_AR_17419_MDL_2019_2020_05092020185209_05092020190010.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/SME_AR_15677_MDL_2018_2019_03092019174234_03092019180018.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/SME_AR_13935_MDL_2017_2018_02102018112421.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/MDL_21112024171111_Transcript_Call18112024.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/MDL_16062025170949_Transcript_signed.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://nsearchives.nseindia.com/corporate/MDL_21062024153046_InvestorPresentation_MDL.pdf) |
| Jan 2024 | [Concall - Jan 2024](https://nsearchives.nseindia.com/corporate/MDL_09012024170746_InvestorPresentation_09012024.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 2026-09-13T18:36:15.597Z.