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Last Updated: April 2, 2026, 3:19 am
Author: Getaka|Social: XLinkedIn

Marine Electricals (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹140.61Overvalued by 17.29%vs CMP ₹170.00

P/E (46.7) × ROE (13.0%) × BV (₹28.90) × DY (0.18%)

₹79.60Overvalued by 53.18%vs CMP ₹170.00
MoS: -113.6% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹181.4523%Fair (+6.7%)
Graham NumberEarnings₹48.7217%Over (-71.3%)
Earnings PowerEarnings₹15.0711%Over (-91.1%)
DCFCash Flow₹86.4611%Over (-49.1%)
Net Asset ValueAssets₹28.887%Over (-83%)
EV/EBITDAEnterprise₹61.089%Over (-64.1%)
Earnings YieldEarnings₹36.507%Over (-78.5%)
ROCE CapitalReturns₹36.867%Over (-78.3%)
Revenue MultipleRevenue₹76.106%Over (-55.2%)
Consensus (9 models)₹79.60100%Overvalued
Key Drivers: EPS CAGR 29.0% lifts DCF — verify sustainability. | Wide model spread (₹15–₹181) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 29.0%

*Investments are subject to market risks

Investment Snapshot

63
Marine Electricals (India) Ltd scores 63/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health81/100 · Strong
ROCE 17.5% GoodROE 13.0% GoodD/E 0.29 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.21% (6mo) Slight increasePromoter holding at 68.2% Stable
Earnings Quality40/100 · Moderate
OPM stable around 9% SteadyWorking capital: 123 days Capital intensive
Quarterly Momentum68/100 · Strong
Revenue (4Q): +7% YoY GrowingProfit (4Q): +22% YoY Positive
Industry Rank60/100 · Moderate
P/E 46.7 vs industry 61.2 In-lineROCE 17.5% vs industry 16.4% Average3Y sales CAGR: 29% 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.

Marine Electricals (India) Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 46.7 vs Ind 61.2 | ROCE 17.5% | ROE 13.0% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.29x | IntCov 0.0x | Current 1.61x | Borrow/Reserve 0.09x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹41 Cr | CFO/NP N/A
Ownership Accumulation
-25
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -0.36 pp | DII +0.21 pp | Prom -0.34 pp
Business Momentum
-39
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +5.2% | Q NP -26.7% | Q OPM -3.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-53.2%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.09xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-0.36 ppLatest FII% minus previous FII%
DII Change+0.21 ppLatest DII% minus previous DII%
Promoter Change-0.34 ppLatest promoter% minus previous promoter%
Shareholder Count Change-497Latest shareholder count minus previous count
Quarterly Sales Change+5.2%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-26.7%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-3.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

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

Market Cap 2,349 Cr.
Current Price 170
Intrinsic Value₹79.60
High / Low 258/151
Stock P/E46.7
Book Value 28.9
Dividend Yield0.18 %
ROCE17.5 %
ROE13.0 %
Face Value 2.00
PEG Ratio1.61

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

View Share Price Target for Marine Electricals (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Marine Electricals (India) Ltd 2,349 Cr. 170 258/15146.7 28.90.18 %17.5 %13.0 % 2.00
Spectrum Electrical Industries Ltd 2,302 Cr. 1,465 1,993/1,00662.8 1370.00 %15.7 %13.7 % 10.0
Kernex Microsystems (India) Ltd 1,606 Cr. 956 1,434/67230.5 1030.00 %23.8 %38.0 % 10.0
Servotech Power Systems Ltd 1,546 Cr. 68.4 168/57.547.8 10.70.07 %20.8 %19.0 % 1.00
Modern Insulators Ltd 1,080 Cr. 229 290/77.416.1 1060.00 %8.98 %7.36 % 10.0
Industry Average12,116.17 Cr516.5461.1898.010.35%16.40%15.91%6.47

All Competitor Stocks of Marine Electricals (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 11613086121124202125165185225147173182
Expenses 10211977113115182112150170206133152165
Operating Profit 14119992013161519142217
OPM % 12%9%10%7%8%10%10%10%8%8%10%12%9%
Other Income 0112233254554
Interest 2222333333334
Depreciation 2212222333223
Profit before tax 1196771811131317142015
Tax % 21%30%27%27%22%25%24%24%23%24%24%24%23%
Net Profit 86555138101013111511
EPS in Rs 0.680.490.380.390.401.020.620.700.740.930.791.110.82

Last Updated: March 3, 2026, 10:16 pm

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7898193209288323206200323391534701727
Expenses 7087175189263305189177296356486638655
Operating Profit 8111821251817232735476272
OPM % 10%11%9%10%9%6%8%11%8%9%9%9%10%
Other Income 002223645681418
Interest 2334569869101213
Depreciation 115443888671111
Profit before tax 57131518116111826385466
Tax % 4%31%37%42%34%29%21%28%29%26%25%24%
Net Profit 5589128581220284150
EPS in Rs 0.540.550.921.001.300.630.390.641.021.542.142.973.65
Dividend Payout % 0%0%0%0%0%0%0%31%0%0%9%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%12.50%33.33%-33.33%-37.50%60.00%50.00%66.67%40.00%46.43%
Change in YoY Net Profit Growth (%)0.00%12.50%20.83%-66.67%-4.17%97.50%-10.00%16.67%-26.67%6.43%

Marine Electricals (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2012-2013 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 4, 2025, 1:37 am

MonthMar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 17171717182525252525272828
Reserves 813334257100101109120155196349371
Borrowings 19192831334339482955763432
Other Liabilities 36394567168114129116106138220223213
Total Liabilities 8089124157277280294298280372519635644
Fixed Assets 32313742263146393839464856
CWIP 0000141400206139
Investments 66777121111926363942
Other Assets 435179108230223238247230307432534538
Total Assets 8089124157277280294298280372519635644

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 001931-4621-338-6146
Cash from Investing Activity + 00-8-8-21-7-0-2-11-28-24-91
Cash from Financing Activity + 006-3244-191-27332454
Net Cash Flow 00-1-312-102-4-1-019
Free Cash Flow 00-8126-5721-431-25-1630
CFO/OP 0%0%30%70%149%-218%139%-3%161%1%19%98%

Free Cash Flow

MonthMar 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-11.00-8.00-10.00-10.00-8.00-25.00-22.00-25.00-2.00-20.00-29.0028.00

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 2012Mar 2013Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11895110136186155215232135163179150
Inventory Days 1643424513615084556640
Days Payable 89128207131272232119130160114
Cash Conversion Cycle 118953851216979150100888576
Working Capital Days 3224-822-170109141907972123
ROCE %18%20%22%23%12%9%10%13%16%17%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Feb 2026
Promoters 74.46%73.84%72.87%71.98%71.17%71.17%68.45%68.45%68.45%68.46%68.54%68.20%
FIIs 0.00%0.00%0.00%0.02%0.15%0.25%0.96%0.15%0.08%0.18%0.65%0.29%
DIIs 0.00%0.00%0.00%0.00%0.11%0.08%0.04%0.04%0.07%0.12%0.12%0.33%
Public 25.54%26.16%27.12%27.99%28.56%28.50%30.56%31.35%31.40%31.24%30.69%31.19%
No. of Shareholders 52,44151,59449,30550,30455,98383,79989,62893,62996,33294,68889,67989,182

Shareholding Pattern Chart

No. of Shareholders

Marine Electricals (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 2.832.021.381.061.05
Diluted EPS (Rs.) 2.812.021.361.061.05
Cash EPS (Rs.) 3.892.711.971.851.85
Book Value[Excl.RevalReserv]/Share (Rs.) 29.2718.9017.0014.8013.86
Book Value[Incl.RevalReserv]/Share (Rs.) 29.2718.9017.0014.8013.86
Revenue From Operations / Share (Rs.) 55.6146.8935.0630.6820.49
PBDIT / Share (Rs.) 5.954.443.412.942.85
PBIT / Share (Rs.) 4.823.662.772.182.11
PBT / Share (Rs.) 3.802.731.981.591.38
Net Profit / Share (Rs.) 2.761.931.331.081.10
NP After MI And SOA / Share (Rs.) 2.791.951.351.061.05
PBDIT Margin (%) 10.699.479.739.5913.91
PBIT Margin (%) 8.667.807.907.1010.28
PBT Margin (%) 6.825.815.665.176.73
Net Profit Margin (%) 4.964.113.793.535.38
NP After MI And SOA Margin (%) 5.014.163.833.445.13
Return on Networth / Equity (%) 9.5110.338.157.437.91
Return on Capital Employeed (%) 15.1516.8614.4714.1114.18
Return On Assets (%) 5.304.203.643.473.36
Long Term Debt / Equity (X) 0.050.100.100.020.05
Total Debt / Equity (X) 0.120.380.310.200.29
Asset Turnover Ratio (%) 1.141.151.060.970.58
Current Ratio (X) 2.141.481.601.651.61
Quick Ratio (X) 1.861.201.321.221.21
Inventory Turnover Ratio (X) 8.967.974.393.602.16
Dividend Payout Ratio (NP) (%) 6.900.000.0018.900.00
Dividend Payout Ratio (CP) (%) 4.910.000.0010.980.00
Earning Retention Ratio (%) 93.100.000.0081.100.00
Cash Earning Retention Ratio (%) 95.090.000.0089.020.00
Interest Coverage Ratio (X) 5.834.764.334.963.92
Interest Coverage Ratio (Post Tax) (X) 3.713.072.692.832.52
Enterprise Value (Cr.) 2164.141273.74505.03411.73849.37
EV / Net Operating Revenue (X) 2.822.051.141.093.38
EV / EBITDA (X) 26.3821.6211.7211.4124.30
MarketCap / Net Operating Revenue (X) 2.821.921.021.013.21
Retention Ratios (%) 93.090.000.0081.090.00
Price / BV (X) 5.364.772.172.174.95
Price / Net Operating Revenue (X) 2.821.921.021.013.21
EarningsYield 0.010.020.030.030.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Marine Electricals (India) Ltd. is a Public Limited Listed company incorporated on 04/12/2007 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L31907MH2007PLC176443 and registration number is 176443. Currently Company is involved in the business activities of Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. Company's Total Operating Revenue is Rs. 700.58 Cr. and Equity Capital is Rs. 27.59 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Electric Equipment - GeneralNo: B/1, Udyog Sadan No.3, Mumbai Maharashtra 400093Contact not found
Management
NamePosition Held
Mr. Vinay Krishna UchilChairman & Executive Director
Mr. Venkatesh Krishnappa UchilManaging Director
Mr. Shailendra ShuklaExecutive Director
Mr. Madan PendseInd. Non-Executive Director
Mr. Nikunj MishraInd. Non-Executive Director
Mr. Vikas JaywantInd. Non-Executive Director
Mr. Mohan RaoInd. Non-Executive Director
Ms. Archana Venkata RajagopalanInd. Non-Executive Director
Dr. Tanuja PudhierkarNon Exe.Non Ind.Director

FAQ

What is the intrinsic value of Marine Electricals (India) Ltd and is it undervalued?

As of 05 April 2026, Marine Electricals (India) Ltd's intrinsic value is ₹79.60, which is 53.18% lower than the current market price of ₹170.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.0 %), book value (₹28.9), dividend yield (0.18 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Marine Electricals (India) Ltd?

Marine Electricals (India) Ltd is trading at ₹170.00 as of 05 April 2026, with a FY2026-2027 high of ₹258 and low of ₹151. The stock is currently near its 52-week low. Market cap stands at ₹2,349 Cr..

How does Marine Electricals (India) Ltd's P/E ratio compare to its industry?

Marine Electricals (India) Ltd has a P/E ratio of 46.7, which is below the industry average of 61.18. This is broadly in line with or below the industry average.

Is Marine Electricals (India) Ltd financially healthy?

Key indicators for Marine Electricals (India) Ltd: ROCE of 17.5 % indicates efficient capital utilization. Dividend yield is 0.18 %.

Is Marine Electricals (India) Ltd profitable and how is the profit trend?

Marine Electricals (India) Ltd reported a net profit of ₹41 Cr in Mar 2025 on revenue of ₹701 Cr. Compared to ₹12 Cr in Mar 2022, the net profit shows an improving trend.

Does Marine Electricals (India) Ltd pay dividends?

Marine Electricals (India) Ltd has a dividend yield of 0.18 % at the current price of ₹170.00. 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 Marine Electricals (India) 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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