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Last Updated: April 2, 2026, 3:19 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 503101 | NSE: MARATHON

Marathon Nextgen Realty Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹431.40Fairly Valued by 8.94%vs CMP ₹396.00

P/E (12.5) × ROE (13.2%) × BV (₹326.00) × DY (0.25%)

₹423.77Fairly Valued by 7.01%vs CMP ₹396.00
MoS: +6.6% (Thin)Confidence: 48/100 (Moderate)Models: 3 Under, 1 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹579.7823%Under (+46.4%)
Graham NumberEarnings₹518.8417%Under (+31%)
Earnings PowerEarnings₹195.5311%Over (-50.6%)
DCFCash Flow₹774.1711%Under (+95.5%)
Net Asset ValueAssets₹326.247%Over (-17.6%)
EV/EBITDAEnterprise₹252.479%Over (-36.2%)
Earnings YieldEarnings₹367.007%Fair (-7.3%)
ROCE CapitalReturns₹160.807%Over (-59.4%)
Revenue MultipleRevenue₹86.096%Over (-78.3%)
Consensus (9 models)₹423.77100%Fairly Valued
Key Drivers: EPS CAGR 34.4% lifts DCF — verify sustainability. | Wide model spread (₹86–₹774) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 34.4%

*Investments are subject to market risks

Investment Snapshot

59
Marathon Nextgen Realty Ltd scores 59/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health63/100 · Moderate
ROCE 12.0% AverageROE 13.2% GoodD/E 1.18 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money85/100 · Strong
FII holding up 2.85% (6mo) AccumulatingDII holding up 11.97% MF buyingPromoter holding at 55.9% Stable
Earnings Quality55/100 · Moderate
OPM expanding (29% → 32%) ImprovingWorking capital: 310 days Capital intensive
Quarterly Momentum33/100 · Weak
Revenue (4Q): -9% YoY DecliningProfit (4Q): +23% YoY PositiveOPM: 20.0% (down 10.0% YoY) Margin pressure
Industry Rank75/100 · Strong
P/E 12.5 vs industry 19.4 Cheaper than peersROCE 12.0% vs industry 14.0% Average3Y sales CAGR: 24% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:19 am

Market Cap 2,668 Cr.
Current Price 396
Intrinsic Value₹423.77
High / Low 775/368
Stock P/E12.5
Book Value 326
Dividend Yield0.25 %
ROCE12.0 %
ROE13.2 %
Face Value 5.00
PEG Ratio0.36

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Marathon Nextgen Realty Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Marathon Nextgen Realty Ltd 2,668 Cr. 396 775/36812.5 3260.25 %12.0 %13.2 % 5.00
Ashoka Buildcon Ltd 3,109 Cr. 111 231/1012.97 1500.00 %39.7 %54.8 % 5.00
Mangalam Cement Ltd 2,195 Cr. 798 940/64027.0 3270.19 %9.87 %5.70 % 10.0
Ahluwalia Contracts (India) Ltd 4,550 Cr. 679 1,129/64517.0 2870.09 %18.5 %11.9 % 2.00
IRB Infrastructure Developers Ltd 26,101 Cr. 21.6 27.2/18.532.7 16.90.69 %7.82 %5.91 % 1.00
Industry Average89,147.00 Cr628.2719.35214.440.24%13.97%16.65%5.56

All Competitor Stocks of Marathon Nextgen Realty Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 278170210129210155162146123149141117125
Expenses 152129149811341081091048710711075100
Operating Profit 126416148764753423641314225
OPM % 45%24%29%37%36%30%33%29%30%28%22%36%20%
Other Income 1291010101111202639503814
Interest 34272523291419139181220
Depreciation 1111111111000
Profit before tax 103224535574444495362687838
Tax % 27%30%25%22%27%28%26%19%21%22%23%18%27%
Net Profit 80164334514038494954626733
EPS in Rs 17.003.509.117.299.807.787.229.469.3510.4111.699.804.80

Last Updated: March 3, 2026, 10:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 12:16 am

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1971936982241206306717705580531
Expenses 1371362630177142232471472407392
Operating Profit 60574352646474246233173139
OPM % 31%29%62%63%27%31%24%34%33%30%26%
Other Income 45501181838364196141
Interest 00521414475123915932
Depreciation 00126533332
Profit before tax 1051063930263235156180208246
Tax % 21%21%27%20%21%28%33%28%26%22%
Net Profit 83843932251639124169191215
EPS in Rs 14.6514.798.426.845.233.308.3726.1232.5336.4336.70
Dividend Payout % 3%3%12%7%0%0%6%4%3%3%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)1.20%-53.57%-17.95%-21.88%-36.00%143.75%217.95%36.29%13.02%
Change in YoY Net Profit Growth (%)0.00%-54.78%35.62%-3.93%-14.12%179.75%74.20%-181.66%-23.27%

Marathon Nextgen Realty Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: January 7, 2026, 4:02 pm

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2828232323232323262634
Reserves 5676485275845705866267629801,1612,164
Borrowings 0112084295677391,08786976156059
Other Liabilities 88128461456351402499482350339
Total Liabilities 6046968851,4971,6171,6992,1392,1532,2482,0972,596
Fixed Assets 00105221294287286283286237184
CWIP 00000000000
Investments 00142226132714981110605
Other Assets 6036957671,2551,2971,3991,5821,8211,8811,7501,807
Total Assets 6046968851,4971,6171,6992,1392,1532,2482,0972,596

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -52-5616910118-1097631522-25
Cash from Investing Activity + 6445-198-312-71-3-37527112298
Cash from Financing Activity + -1484020360144274-326-155-265
Net Cash Flow -2-311-8732-2615-218
Free Cash Flow -52-561689218-1087531421-29
CFO/OP -31%-54%419%207%11%-169%122%140%29%12%

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow60.0046.00-165.00-377.00-503.00-675.0073.00-623.00-528.00-387.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 128497024338945224960
Inventory Days 3836512,21514,6835,749
Days Payable 453,4921,510460
Cash Conversion Cycle 5075560248,75613,26245225,33860
Working Capital Days 3855585571,086173860441213246310
ROCE %17%6%6%6%6%7%17%16%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.44%74.40%73.45%73.68%73.68%73.63%73.63%73.63%73.63%73.63%55.93%55.93%
FIIs 0.15%0.24%2.34%1.56%0.56%0.41%3.15%2.34%2.28%0.94%6.89%5.13%
DIIs 0.03%0.01%0.01%0.07%0.01%0.80%1.61%2.47%2.43%2.31%15.59%14.40%
Public 25.38%25.35%24.20%24.68%25.75%25.18%21.62%21.57%21.67%23.12%21.60%24.55%
No. of Shareholders 7,5827,38210,20110,33010,9109,78710,63510,76210,70611,06915,44715,442

Shareholding Pattern Chart

No. of Shareholders

Marathon Nextgen Realty Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund 6,612,860 1.25 342.456,479,8382026-02-23 05:30:262.05%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 37.2134.4326.128.373.30
Diluted EPS (Rs.) 37.1932.5026.128.363.30
Cash EPS (Rs.) 32.2526.7125.035.776.22
Book Value[Excl.RevalReserv]/Share (Rs.) 231.79196.85171.25142.35133.51
Book Value[Incl.RevalReserv]/Share (Rs.) 231.79196.85171.25142.35133.51
Revenue From Operations / Share (Rs.) 113.29137.70154.6866.5444.68
PBDIT / Share (Rs.) 52.5953.5660.8224.4617.68
PBIT / Share (Rs.) 52.0752.9860.1523.8216.50
PBT / Share (Rs.) 40.6035.2133.707.616.98
Net Profit / Share (Rs.) 31.7326.1324.355.135.04
NP After MI And SOA / Share (Rs.) 36.4332.5326.128.373.30
PBDIT Margin (%) 46.4238.8939.3236.7639.56
PBIT Margin (%) 45.9638.4738.8835.7936.92
PBT Margin (%) 35.8325.5621.7811.4315.61
Net Profit Margin (%) 28.0018.9715.747.7011.27
NP After MI And SOA Margin (%) 32.1523.6216.8812.587.39
Return on Networth / Equity (%) 15.7116.7115.405.932.49
Return on Capital Employeed (%) 16.7716.1116.876.935.76
Return On Assets (%) 8.897.435.611.800.89
Long Term Debt / Equity (X) 0.310.580.991.371.10
Total Debt / Equity (X) 0.470.761.111.671.18
Asset Turnover Ratio (%) 0.260.320.240.090.03
Current Ratio (X) 2.152.022.051.772.48
Quick Ratio (X) 0.860.901.020.791.17
Inventory Turnover Ratio (X) 0.900.000.000.000.00
Dividend Payout Ratio (NP) (%) 2.742.821.900.000.00
Dividend Payout Ratio (CP) (%) 2.702.771.860.000.00
Earning Retention Ratio (%) 97.2697.1898.100.000.00
Cash Earning Retention Ratio (%) 97.3097.2398.140.000.00
Interest Coverage Ratio (X) 4.583.012.301.511.86
Interest Coverage Ratio (Post Tax) (X) 3.762.471.921.321.53
Enterprise Value (Cr.) 3122.363295.872081.341566.87925.96
EV / Net Operating Revenue (X) 5.384.682.905.124.50
EV / EBITDA (X) 11.5912.037.3913.9211.39
MarketCap / Net Operating Revenue (X) 4.553.711.791.751.38
Retention Ratios (%) 97.2597.1798.090.000.00
Price / BV (X) 2.222.631.630.820.46
Price / Net Operating Revenue (X) 4.553.711.791.751.38
EarningsYield 0.070.060.090.070.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Marathon Nextgen Realty Ltd. is a Public Limited Listed company incorporated on 13/01/1978 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L65990MH1978PLC020080 and registration number is 020080. Currently Company is involved in the business activities of Activities of head offices; management consultancya ctivities. Company's Total Operating Revenue is Rs. 241.94 Cr. and Equity Capital is Rs. 25.60 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringMarathon FutureX, N.M. Joshi Marg, Mumbai Maharashtra 400013Contact not found
Management
NamePosition Held
Mr. Chetan R ShahChairman & Managing Director
Mr. Mayur R ShahVice Chairman
Mrs. Shailaja C ShahDirector
Mr. Kaivalya ShahDirector
Mr. Samyag ShahDirector
Mr. Deepak R ShahIndependent Director
Mr. Devendra ShrimankarIndependent Director
Mr. Ashwin M ThakkerIndependent Director
Mr. Atul MehtaIndependent Director
Mrs. Parul ShahIndependent Director

FAQ

What is the intrinsic value of Marathon Nextgen Realty Ltd and is it undervalued?

As of 18 April 2026, Marathon Nextgen Realty Ltd's intrinsic value is ₹423.77, which is 7.01% higher than the current market price of ₹396.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (13.2 %), book value (₹326), dividend yield (0.25 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Marathon Nextgen Realty Ltd?

Marathon Nextgen Realty Ltd is trading at ₹396.00 as of 18 April 2026, with a FY2026-2027 high of ₹775 and low of ₹368. The stock is currently near its 52-week low. Market cap stands at ₹2,668 Cr..

How does Marathon Nextgen Realty Ltd's P/E ratio compare to its industry?

Marathon Nextgen Realty Ltd has a P/E ratio of 12.5, which is below the industry average of 19.35. This is broadly in line with or below the industry average.

Is Marathon Nextgen Realty Ltd financially healthy?

Key indicators for Marathon Nextgen Realty Ltd: ROCE of 12.0 % is moderate. Dividend yield is 0.25 %.

Is Marathon Nextgen Realty Ltd profitable and how is the profit trend?

Marathon Nextgen Realty Ltd reported a net profit of ₹191 Cr in Mar 2025 on revenue of ₹580 Cr. Compared to ₹39 Cr in Mar 2022, the net profit shows an improving trend.

Does Marathon Nextgen Realty Ltd pay dividends?

Marathon Nextgen Realty Ltd has a dividend yield of 0.25 % at the current price of ₹396.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Marathon Nextgen Realty Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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