MARKOLINES

Markolines Pavement Technologies Limited

Civil construction company specializing in road maintenance and highway life-extension services

Industrials›Construction›Construction›Civil Construction

markolines.com

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Key metrics

Price as of 2026-10-16

Stock price

₹178.40

Market cap

397 Cr

Stock P/E

14.9

P/B

1.96

Dividend yield

0.8%

ROE (FY26)

12.9%

ROCE (FY26)

14.3%

Operating margin (FY26)

9.5%

Debt / equity (FY26)

0.43

OCF / EBITDA (FY26)

15.5%

OCF / EBITDA (3Y)

-30.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Markolines Pavement Technologies (Markolines) maintains and repairs highways across India, mainly for private road owners such as infrastructure funds, using specialised methods like micro surfacing and recycling of the road surface.

Company snapshot

62ndBy market cap

Ranked among 90 companies in Civil Construction.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	73 Cr	78 Cr	93 Cr	105 Cr	76 Cr
Operating expenses (approx.)	67 Cr	71 Cr	83 Cr	89 Cr	68 Cr
EBITDA	6 Cr	7 Cr	10 Cr	16 Cr	8 Cr
OPM %	8.1%	9.2%	10.9%	15.3%	10.1%
Other income	1 Cr	2 Cr	2 Cr	3 Cr	2 Cr
Interest	0.55 Cr	1 Cr	1 Cr	2 Cr	2 Cr
Depreciation	2 Cr	2 Cr	2 Cr	2 Cr	2 Cr
Profit before tax	5 Cr	6 Cr	8 Cr	15 Cr	6 Cr
Tax %	28.6%	31.0%	19.5%	24.6%	21.8%
Net profit	4 Cr	4 Cr	7 Cr	11 Cr	4 Cr
EPS (₹)	₹1.72	₹1.70	₹3.33	₹5.15	₹1.96

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	312 Cr	347 Cr	307 Cr	348 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	284 Cr	316 Cr	269 Cr	308 Cr	Sign in free for the trailing twelve months
EBITDA	27 Cr	32 Cr	38 Cr	40 Cr	Sign in free for the trailing twelve months
OPM %	8.8%	9.1%	12.4%	11.5%	Sign in free for the trailing twelve months
Other income	0.63 Cr	4 Cr	5 Cr	8 Cr	Sign in free for the trailing twelve months
Interest	3 Cr	5 Cr	7 Cr	6 Cr	Sign in free for the trailing twelve months
Depreciation	2 Cr	5 Cr	7 Cr	7 Cr	Sign in free for the trailing twelve months
Profit before tax	22 Cr	25 Cr	29 Cr	35 Cr	Sign in free for the trailing twelve months
Tax %	29.6%	31.9%	25.1%	24.9%	Sign in free for the trailing twelve months
Net profit	16 Cr	17 Cr	22 Cr	26 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹8.24	₹9.06	₹10.09	₹11.90	Sign in free for the trailing twelve months
Dividend payout %	0.0%	7.6%	8.7%	12.6%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	19 Cr	19 Cr	22 Cr	22 Cr
Reserves	67 Cr	83 Cr	148 Cr	180 Cr
Borrowings	—	—	—	86 Cr
Other liabilities	102 Cr	163 Cr	146 Cr	51 Cr
Total liabilities	188 Cr	264 Cr	316 Cr	339 Cr
Fixed assets (net)	21 Cr	29 Cr	31 Cr	28 Cr
CWIP	—	—	—	3 Cr
Investments	8 Cr	10 Cr	19 Cr	33 Cr
Loans & advances	—	—	—	44 Cr
Inventories	24 Cr	23 Cr	8 Cr	8 Cr
Trade receivables	76 Cr	121 Cr	184 Cr	144 Cr
Cash & bank	0.34 Cr	0.35 Cr	15 Cr	2 Cr
Other assets	59 Cr	81 Cr	59 Cr	78 Cr
Total assets	188 Cr	264 Cr	316 Cr	339 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	20 Cr	-4 Cr	-36 Cr	6 Cr
Cash from investing	-22 Cr	-12 Cr	-14 Cr	-21 Cr
Cash from financing	0.85 Cr	23 Cr	50 Cr	16 Cr
Net cash flow	-1 Cr	7 Cr	0.16 Cr	1 Cr
Free cash flow (OCF − Capex)	5 Cr	-4 Cr	-46 Cr	0.89 Cr

Ratios

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	29.9%	30.0%	21.4%	14.3%
ROE %	18.3%	17.0%	12.9%	12.9%
Debtor days	89	127	218	150
Inventory days	206	80	29	37
Days payable	—	198	178	131
Cash conversion cycle	295	9	69	56
OCF / EBITDA %	73.7%	-12.2%	-93.5%	15.5%
OCF / EBITDA % (3 years)	—	—	-19.9%	-30.2%
Debt / equity	0.0036	0.00	0.0036	0.43
Current ratio	1.84	1.58	2.20	1.68
Net debt / EBITDA	-0.01	-0.01	-0.39	2.10