Maral Overseas Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹240 Cr
- P/E
- 10.74
- ROE
- 3.84%
- PEG
- 0.35
- Price to sales
- 0.23
- Debt to equity
- 3.38
- 52W high / low
- ₹65.8 / ₹35.4
- Sales growth (5Y)
- 9.19%
- EBITDA margin
- 6.23%
- Net profit margin
- 0.43%
- Promoter holding
- 74.95%
- Sales (last year)
- ₹1,019 Cr
Incorporated in 1991, Maral Overseas Ltd manufactures Grey Yarn, Dyed Yarn, Knitted Fabric and Garments[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Textiles & Apparels
on management's own guidance
- Strong growth2
- Strong growth1
- Sumeet IndustrieGood growth3
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Peers
Textiles & Apparels companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹602 Cr | 97.3 | |
| 2 | 40%+ | Flat | ₹383 Cr | 25.2 | |
| 3 | Sumeet Industrie | 20–40% | Up 2%+ | ₹638 Cr | 25.8 |
| 4 | 20–40% | Up 2%+ | ₹301 Cr | 20.1 | |
| 5 | 20–40% | Up 0–2% | ₹2,383 Cr | 10.4 | |
| 6 | 20–40% | Up 0–2% | ₹1,032 Cr | 55.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Textiles & Apparels rankingMaral Overseas Ltd announcements
All announcements →- Acquisition / mergerMajor developmentMaral Overseas approves Q2 results to 30 Sep 2026, Rs. 180 crore capex and Asawata stake
- Financial resultsMajor developmentMaral Overseas approves half-year results and in-principle Rs. 180 crore capex plan
- Financial resultsMajor developmentMaral Overseas approves results for quarter ended 30 Sept 2026 and in-principle Rs.180 crore capex
Financials of Maral Overseas Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Maral Overseas Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% | 74.95% |
| FIIs + | 0.09% | 0.10% | 0.08% | 0.08% | 0.11% | 0.08% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% |
| Public + | 24.97% | 24.94% | 24.97% | 24.96% | 24.93% | 24.97% | 24.97% | 24.96% | 24.97% | 24.97% | 24.97% | 24.97% |
| No. of Shareholders | 17,369 | 18,507 | 18,020 | 17,650 | 17,083 | 16,904 | 16,800 | 17,048 | 16,917 | 16,640 | 16,502 | 16,350 |
Pros & Cons
Maral Overseas Ltd
Key positives and risks surfaced from the company insights section.
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 9.19% over past five years.
- Company has a low return on equity of -8.17% over last 3 years.
- Promoters have pledged 48.0% of their holding.
- Earnings include an other income of Rs.26.1 Cr.
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 9.19% over past five years.
- Company has a low return on equity of -8.17% over last 3 years.
- Promoters have pledged 48.0% of their holding.
- Earnings include an other income of Rs.26.1 Cr.
Financials of Maral Overseas Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 245.00 | 227.63 | 259.77 | 250.92 | 271.04 | 250.37 | 274.70 | 225.50 | 249.70 | 247.45 | 258.22 | 263.21 | 301.30 |
| Expenses + | 232.63 | 213.81 | 246.81 | 247.35 | 263.68 | 249.06 | 264.29 | 223.87 | 240.62 | 228.06 | 239.92 | 246.49 | 283.13 |
| Operating Profit | 12.37 | 13.82 | 12.96 | 3.57 | 7.36 | 1.31 | 10.41 | 1.63 | 9.08 | 19.39 | 18.30 | 16.72 | 18.17 |
| OPM % | 5.05% | 6.07% | 4.99% | 1.42% | 2.72% | 0.52% | 3.79% | 0.72% | 3.64% | 7.84% | 7.09% | 6.35% | 6.03% |
| Other Income + | 3.79 | 4.51 | 11.28 | 7.73 | 3.47 | 4.59 | 6.78 | 4.64 | 4.65 | 3.67 | 9.82 | 5.73 | 6.89 |
| Interest | 9.41 | 8.88 | 7.92 | 9.22 | 9.76 | 8.84 | 8.85 | 10.00 | 9.14 | 9.41 | 8.94 | 9.16 | 9.70 |
| Depreciation | 8.60 | 8.80 | 8.63 | 8.54 | 8.41 | 8.45 | 8.77 | 9.02 | 7.73 | 7.97 | 7.95 | 7.97 | 7.85 |
| Profit before tax | -1.85 | 0.65 | 7.69 | -6.46 | -7.34 | -11.39 | -0.43 | -12.75 | -3.14 | 5.68 | 11.23 | 5.32 | 7.51 |
| Tax % | 23.78% | -63.08% | 23.54% | -0.31% | -5.18% | -7.29% | -46.51% | -1.41% | -11.15% | 6.51% | -18.61% | -12.41% | 6.66% |
| Net Profit + | -2.29 | 1.06 | 5.88 | -6.45 | -6.95 | -10.56 | -0.23 | -12.57 | -2.78 | 5.30 | 13.31 | 5.98 | 7.00 |
| EPS in Rs | -0.55 | 0.26 | 1.42 | -1.55 | -1.67 | -2.54 | -0.06 | -3.03 | -0.67 | 1.28 | 3.21 | 1.44 | 1.69 |
Financials of Maral Overseas Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 648 | 619 | 666 | 641 | 757 | 676 | 632 | 1,082 | 1,026 | 960 | 1,047 | 981 | 1,070 |
| Expenses + | 590 | 572 | 621 | 615 | 721 | 668 | 578 | 965 | 1,006 | 923 | 1,024 | 932 | 998 |
| Operating Profit | 59 | 47 | 46 | 25 | 36 | 8 | 54 | 117 | 20 | 37 | 23 | 49 | 73 |
| OPM % | 9% | 8% | 7% | 4.0% | 4.8% | 1.1% | 8% | 11% | 1.9% | 3.9% | 2.2% | 5.0% | 7% |
| Other Income + | 14 | 12 | 15 | 12 | 15 | 17 | 8 | 22 | 15 | 23 | 22 | 22 | 26 |
| Interest | 19 | 19 | 18 | 19 | 17 | 16 | 17 | 21 | 23 | 34 | 37 | 38 | 37 |
| Depreciation | 35 | 25 | 23 | 18 | 20 | 24 | 24 | 26 | 30 | 34 | 34 | 33 | 32 |
| Profit before tax | 18 | 14 | 21 | 1 | 13 | -15 | 21 | 92 | -18 | -8 | -26 | 1 | 30 |
| Tax % | 5% | 25% | 33% | -65% | 39% | 0% | 40% | 28% | -13% | 15% | -6% | -224% | |
| Net Profit + | 17 | 10 | 14 | 1 | 8 | -15 | 13 | 67 | -16 | -10 | -24 | 3 | 32 |
| EPS in Rs | 4.02 | 2.46 | 3.33 | 0.24 | 1.96 | -3.68 | 3.02 | 16.14 | -3.84 | -2.35 | -5.83 | 0.79 | 7.62 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 12% | 0% | 0% | 0% | 0% |
Financials of Maral Overseas Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 |
| Reserves | 27 | 38 | 53 | 51 | 59 | 42 | 56 | 124 | 99 | 90 | 67 | 69 | 83 |
| Borrowings + | 232 | 239 | 231 | 211 | 248 | 223 | 197 | 243 | 372 | 476 | 449 | 374 | 360 |
| Other Liabilities + | 59 | 53 | 96 | 100 | 107 | 126 | 147 | 180 | 120 | 150 | 174 | 206 | 230 |
| Total Liabilities | 359 | 371 | 421 | 404 | 455 | 433 | 442 | 590 | 633 | 758 | 732 | 690 | 715 |
| Fixed Assets + | 171 | 153 | 158 | 157 | 188 | 182 | 161 | 175 | 203 | 346 | 337 | 307 | 292 |
| CWIP | 3 | 11 | 3 | 13 | 3 | 0 | 2 | 3 | 41 | 9 | 1 | 0 | 0 |
| Investments | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Other Assets + | 184 | 207 | 260 | 232 | 264 | 250 | 279 | 411 | 388 | 402 | 393 | 382 | 420 |
| Total Assets | 359 | 371 | 421 | 404 | 455 | 433 | 442 | 590 | 633 | 758 | 732 | 690 | 715 |
Financials of Maral Overseas Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 85 | 25 | 44 | 68 | 31 | 56 | 38 | 34 | 16 | 61 | 76 | 90 |
| Cash from Investing Activity + | -45 | -14 | -22 | -26 | -39 | -11 | -2 | -31 | -90 | -122 | -28 | -7 |
| Cash from Financing Activity + | -36 | -15 | -24 | -41 | 11 | -42 | -43 | -2 | 76 | 59 | -48 | -82 |
| Net Cash Flow | 4 | -3 | -2 | 1 | 3 | 4 | -8 | 1 | 2 | -2 | -0 | 1 |
| Free Cash Flow | 39 | 11 | 21 | 41 | -9 | 42 | 34 | 4 | -77 | -64 | 44 | 77 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 152% | 62% | 107% | 268% | 93% | 739% | 73% | 53% | 93% | 166% | 326% | 183% |
Financials of Maral Overseas Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 24 | 28 | 45 | 47 | 46 | 41 | 56 | 37 | 35 | 46 | 48 | 47 |
| Inventory Days | 91 | 124 | 138 | 101 | 83 | 83 | 99 | 164 | 127 | 124 | 96 | 101 |
| Days Payable | 20 | 16 | 38 | 40 | 44 | 48 | 60 | 91 | 37 | 27 | 45 | 55 |
| Cash Conversion Cycle | 95 | 135 | 144 | 108 | 85 | 75 | 95 | 110 | 125 | 142 | 99 | 93 |
| Working Capital Days | 13 | 13 | 1 | -31 | -25 | -35 | -3 | 25 | 6 | -5 | -16 | -12 |
| ROCE % | 13% | 11% | 12% | 6% | 9% | 0% | 12% | 31% | 1% | 5% | 2% | 8% |
Continue your research
What Maral Overseas Ltd's management said in earlier quarters
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