MARSONS

Marsons Limited

Power transformers for utility and industrial customers

Industrials›Capital Goods›Electrical Equipment›Heavy Electrical Equipment

marsonsonline.com

Ask AI

Key metrics

Price as of 2026-10-16

Stock price

₹122.73

Market cap

2,112 Cr

Stock P/E

47.8

P/B

9.74

Dividend yield

0.0%

ROE (FY26)

21.3%

ROCE (FY26)

20.0%

Operating margin (FY26)

16.9%

Debt / equity (FY26)

0.0032

OCF / EBITDA (FY26)

3.8%

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.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Marsons manufactures power transformers — an electrical-equipment specialist supplying utility and industrial customers from its Kolkata industrial base, with a small U.K. wholly owned subsidiary and a board-approved product-range upgrade in progress.

Company snapshot

29thBy market cap

Ranked among 38 companies in Heavy Electrical Equipment.

What we see

Positives

✓Net margin of 18.9% — the business keeps a healthy share of every rupee it earns.

3 more signals from the filings.Sign in free to see them all

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 2018	Sept 2018	Dec 2018	Mar 2019	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	0.24 Cr	0.11 Cr	0 Cr	0 Cr	44 Cr	56 Cr	47 Cr	60 Cr	46 Cr	93 Cr	49 Cr
Operating expenses (approx.)	0.95 Cr	20 Cr	0 Cr	0.68 Cr	40 Cr	46 Cr	40 Cr	51 Cr	39 Cr	74 Cr	42 Cr
EBITDA	-0.71 Cr	-20 Cr	0 Cr	-0.68 Cr	4 Cr	10 Cr	7 Cr	9 Cr	7 Cr	19 Cr	7 Cr
OPM %	-295.5%	-19018.3%	—	—	9.4%	18.2%	15.5%	14.3%	15.0%	20.6%	14.7%
Other income	0.63 Cr	1 Cr	0 Cr	0 Cr	2 Cr	-1 Cr	0.99 Cr	0.93 Cr	0.64 Cr	0.0001 Cr	0.75 Cr
Interest	0.02 Cr	0.0019 Cr	0 Cr	0 Cr	0.04 Cr	0.06 Cr	0.10 Cr	0.09 Cr	0.80 Cr	0.37 Cr	0.36 Cr
Depreciation	0.69 Cr	0.89 Cr	0.79 Cr	0.77 Cr	0.18 Cr	-0.09 Cr	0.17 Cr	0.22 Cr	0.23 Cr	0.14 Cr	0.24 Cr
Profit before tax	-0.79 Cr	-20 Cr	-0.79 Cr	-1 Cr	6 Cr	9 Cr	8 Cr	9 Cr	6 Cr	19 Cr	7 Cr
Tax %	0.0%	0.0%	0.0%	121.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-22.0%	19.7%
Net profit	-0.79 Cr	-20 Cr	-0.79 Cr	0.30 Cr	6 Cr	9 Cr	8 Cr	9 Cr	6 Cr	23 Cr	6 Cr
EPS (₹)	₹-0.32	₹-7.92	₹-0.32	₹0.12	₹0.37	₹0.52	₹0.47	₹0.53	₹0.38	₹1.31	₹0.34

Profit & loss (annual)

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

Metric	Mar 2019	Mar 2025	Mar 2026	TTM
Sales	0.35 Cr	168 Cr	245 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	18 Cr	143 Cr	203 Cr	Sign in free for the trailing twelve months
EBITDA	-18 Cr	25 Cr	42 Cr	Sign in free for the trailing twelve months
OPM %	-5142.1%	15.0%	17.3%	Sign in free for the trailing twelve months
Other income	-0.91 Cr	3 Cr	2 Cr	Sign in free for the trailing twelve months
Interest	0.02 Cr	0.15 Cr	1 Cr	Sign in free for the trailing twelve months
Depreciation	3 Cr	0.37 Cr	0.75 Cr	Sign in free for the trailing twelve months
Profit before tax	-22 Cr	28 Cr	42 Cr	Sign in free for the trailing twelve months
Tax %	8.0%	0.0%	-9.6%	Sign in free for the trailing twelve months
Net profit	-20 Cr	28 Cr	46 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹-8.06	₹1.63	₹2.69	Sign in free for the trailing twelve months
Dividend payout %	—	0.0%	1.9%	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 2019	Mar 2025	Mar 2026
Equity capital	25 Cr	17 Cr	17 Cr
Reserves	-94 Cr	105 Cr	200 Cr
Borrowings	84 Cr	3 Cr	0.70 Cr
Other liabilities	23 Cr	27 Cr	72 Cr
Total liabilities	38 Cr	152 Cr	291 Cr
Fixed assets (net)	21 Cr	14 Cr	65 Cr
CWIP	0.14 Cr	—	0 Cr
Investments	0 Cr	37 Cr	25 Cr
Loans & advances	6 Cr	0 Cr	0 Cr
Inventories	0 Cr	15 Cr	58 Cr
Trade receivables	10 Cr	68 Cr	107 Cr
Cash & bank	0.0082 Cr	0.37 Cr	8 Cr
Other assets	0.95 Cr	17 Cr	28 Cr
Total assets	38 Cr	152 Cr	291 Cr

Cash flows

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

Metric	Mar 2019	Mar 2025	Mar 2026
Cash from operating activity	—	-35 Cr	2 Cr
Cash from investing	—	-38 Cr	12 Cr
Cash from financing	—	74 Cr	-4 Cr
Net cash flow	—	1 Cr	10 Cr
Free cash flow (OCF − Capex)	—	-37 Cr	-0.03 Cr

Ratios

Metric	Mar 2019	Mar 2025	Mar 2026
ROCE %	-137.5%	22.5%	20.0%
ROE %	—	22.9%	21.3%
Debtor days	10186	148	159
Inventory days	0	39	114
Days payable	8724	65	110
Cash conversion cycle	1462	121	163
OCF / EBITDA %	—	-139.1%	3.8%
Debt / equity	—	0.02	0.0032
Current ratio	0.25	3.37	2.66
Net debt / EBITDA	—	0.09	-0.16