Maral Overseas Limited (MARALOVER)

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Maral Overseas Limited (MARALOVER) · mywealthgrid

About

Maral Overseas is a small-cap textile company (market cap ₹220.57 Cr) in textiles & apparels within consumer discretionary. After multiple loss-making quarters through 2025, Jun 2026 showed recovery with ₹263.21 Cr revenue and ₹5.98 Cr net profit.

Face value: ₹10

Market cap

₹239 Cr

P/E

11.0×

P/B

2.2×

Dividend yield

ROE

ROCE

12%

Debt / equity

3.08

OPM

4.9%

EPS (TTM)

₹5.3

Book value

₹26.7

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Profitability instability: losses in four of eight recent quarters (Jun 2025: -₹12.57 Cr, Dec 2024: -₹10.56 Cr); verify if cyclical or structural
Margin vulnerability: OPM ranged 0.52%–7.84% across eight quarters with 4.94% average; verify pricing power and ability to pass through input-cost shocks
High financial leverage: D/E 3.08 and ROE 2.97% constrain flexibility; verify debt maturity profile and refinancing risk
Textile sector exposure: Verify domestic demand trajectory, export tariffs, and raw material or labor cost pressures affecting textiles & apparels

Generated analysis · source review pending

Growth drivers

Margin recovery trajectory: OPM improved from 0.52% (Dec 2024) to 6.35% (Jun 2026); if sustained as permanent gain, profit scales faster with revenue growth—verify whether structural or cyclical
Revenue stabilization at higher level: Jun 2026 revenue ₹263.21 Cr is highest in eight quarters; consistent performance at this level with 6%+ margins would materially improve profitability—verify demand trajectory and competitive position
Turnaround confirmation: After losses in four of eight prior quarters, Jun 2026 shows ₹5.98 Cr profit; verify whether recovery is structural operational improvement or temporary bounce

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹57.7-5.5%1Y

Quick read

rule-based

Pros

+High promoter holding of 75% with no pledge

Cons

−Low return on equity of -8.1% (3-yr avg)
−Thin operating margin of 4.9%
−Profit declined 23.6% a year over the last 5 years
−Modest revenue growth of 9.2% a year over the last 5 years
−Heavily leveraged (debt/equity 3.1)
−Weak interest coverage of 1×

Research score

Structured signal from quality, growth, valuation and momentum.

44/100

Business quality: 5
Growth: 36

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
K.p.r. Mill LimitedKPRMILLKPRMILL	₹36,607 Cr	₹37,203 Cr	₹6,820 Cr	₹1,332 Cr	19.1%	₹912 Cr	13%	21.4%	16.2%	181
Welspun Living LimitedWELSPUNLIVWELSPUNLIV	₹22,941 Cr	₹24,744 Cr	₹9,934 Cr	₹884 Cr	8.4%	₹278 Cr	2.3%	6.6%	4.2%	108
Vardhman Textiles LimitedVTLVTL	₹15,322 Cr	₹17,177 Cr	₹10,186 Cr	₹1,387 Cr	12.6%	₹848 Cr	7.6%	8.6%	7.3%	259
Trident LimitedTRIDENTTRIDENT	₹11,293 Cr	₹13,061 Cr	₹6,781 Cr	₹877 Cr	13%	₹395 Cr	5.6%	10.6%	8%	103
Indo Count Industries LimitedICILICIL	₹8,789 Cr	₹9,862 Cr	₹4,390 Cr	₹424 Cr	9.5%	₹151 Cr	3.1%	10%	5.5%	215
Garware Technical Fibres LimitedGARFIBRESGARFIBRES	₹7,630 Cr	₹7,671 Cr	₹1,644 Cr	₹306 Cr	18.6%	₹190 Cr	13%	21.6%	15.3%	172
Kusumgar LimitedKUSUMGARKUSUMGAR	₹6,222 Cr	₹6,445 Cr	₹692 Cr	₹188 Cr	27.2%	₹98 Cr	14.2%	43.8%	35.2%	—
Filatex India LimitedFILATEXFILATEX	₹4,712 Cr	₹4,840 Cr	₹4,256 Cr	₹346 Cr	8.3%	₹191 Cr	4.4%	17.4%	12.9%	-4
Jindal Worldwide LimitedJINDWORLDJINDWORLD	₹4,594 Cr	₹5,152 Cr	₹2,300 Cr	₹124 Cr	5.9%	₹80 Cr	3.1%	13.5%	7.9%	112
Sanathan Textiles LimitedSANATHANSANATHAN	₹4,257 Cr	₹5,744 Cr	₹4,401 Cr	₹323 Cr	7.5%	₹61 Cr	2%	6.9%	4.2%	-25
Raymond Lifestyle LimitedRAYMONDLSLRAYMONDLSL	₹3,823 Cr	₹5,023 Cr	₹6,973 Cr	₹671 Cr	9.6%	₹43 Cr	0.7%	4%	0.5%	102
Alok Industries LimitedALOKINDSALOKINDS	₹3,505 Cr	₹29,610 Cr	₹3,775 Cr	₹66 Cr	0.8%	₹-711 Cr	-20%	-4%	—	93

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	597	189	189	757	676	632	1,082	1,026	960	1,047	981
COGS	-364	123	123	490	442	376	655	689	608	650	584
Gross profit	—	66	66	267	234	257	427	337	352	397	396
	962	57	57	231	226	203	310	318	315	374	348
	-0	9	9	36	8	54	117	19	37	23	48
OPM %	-0.1%	4.7%	4.7%	4.8%	1.1%	8.5%	10.8%	1.9%	3.8%	2.2%	4.9%
Depreciation	—	4	4	20	24	24	26	30	34	34	33
Interest	19	5	5	17	16	17	21	23	34	37	38
	14	6	6	15	17	8	22	15	23	23	23
Profit before tax	14	5	5	13	-15	21	92	-18	-8	-26	1
Tax	3	2	2	5	0	8	26	-2	1	-1	-2
Tax %	24.9%	32.7%	32.7%	39.1%	0%	40%	27.6%	-13.2%	15.4%	-5.6%	-223.8%
	10	4	4	8	-15	13	67	-16	-10	-24	3
PAT margin %	1.7%	1.9%	1.9%	1.1%	-2.3%	2%	6.2%	-1.6%	-1%	-2.3%	0.3%
EPS (₹)	1.9	0.9	0.9	2	-3.7	3	16.1	-3.8	2.4	-5.8	0.8
EPS adjusted (₹)	—	0.9	0.9	2	-3.7	3	16.1	-3.8	-2.4	-5.8	0.8
	0%	0%	0%	0%	—	0%	12.4%	—	0%	—	—
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	42	42	42	42	42	42	42	42	42	42
Reserves	39	51	59	42	56	124	99	90	67	69
	87	35	51	38	197	217	329	424	416	341
	222	276	303	311	147	207	163	202	208	238
Total equity & liabilities	389	404	454	433	442	590	633	758	732	690
	153	157	188	182	160	175	203	346	336	307
CWIP	11	13	3	0	2	3	41	9	1	0
Investments	0	1	0	0	1	1	1	1	1	1
	224	233	262	250	279	411	388	402	393	382
Total assets	389	404	454	433	442	590	633	758	732	690

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
YARN	680.96	33.38	452.33	373.3	79.03	42.24
FABRIC	314.84	18.65

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	35.2%	34.6%	40.6%	39.5%	32.9%	36.6%	37.9%	40.4%
EBITDA margin %	4.8%	1.1%	8.5%	10.8%	1.9%	3.8%	2.2%	4.9%
EBIT margin %	2.1%	-2.5%	4.7%	8.4%	-1%	0.3%	-1.1%	1.6%
PAT margin %	1.1%	-2.3%	2%	6.2%	-1.6%	-1%	-2.3%	0.3%
Working capital
Receivable days	46	41	56	37	35	46	48	47
Inventory days	81	81	97	112	95	98	76	83
Payable days	43	48	59	62	28	22	36	45
NWC days	84	74	94	87	103	123	89	85
Leverage
Current ratio	0.85	0.81	1	1.26	1.07	0.98	0.9	0.93
Debt to EBITDA	1.41	5.04	3.67	1.85	16.93	11.52	18.35	7.05
Debt to equity	0.5	0.45	2.02	1.31	2.33	3.23	3.82	3.08
Interest coverage	1.8	0	2.3	5.4	0.2	0.8	0.3	1
Asset turnover	1.67	1.56	1.43	1.84	1.62	1.27	1.43	1.42
Return ratios
Return on assets %	1.8%	-3.5%	2.8%	11.4%	-2.5%	-1.3%	-3.3%	0.5%
Return on capital employed %	21.3%	0.3%	23.1%	50%	1.7%	7.6%	3.1%	12%
Return on equity %	8.1%	-18.2%	12.8%	40.4%	-11.3%	-7.4%	-22.2%	2.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%	74.95%
	0.16%	0.09%	0.1%	0.09%	0.09%	0.12%	0.08%	0.08%	0.08%	0.08%	0.08%	0.08%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	24.89%	24.96%	24.95%	24.96%	24.96%	24.93%	24.97%	24.97%	24.97%	24.97%	24.97%	24.97%
No. of shareholders	—	—	—	—	—	—	—	—	17,048	16,917	16,640	16,502

Promoter holding up 0 percentage points since Sep 2023.

2 deals · 30 Jan 2024 – 30 Jan 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 Jan 2024	SETU SECURITIES PVT LTD	Bulk	NSE	Sell	2,08,477	₹101.34	₹2.11 Cr
30 Jan 2024	SETU SECURITIES PVT LTD	Bulk	NSE	Buy	2,07,876	₹101.92	₹2.12 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Shekhar AgarwalExecutive Director-Chairperson-CEO-MD
Mr. Ravi JhunjhunwalaNon-Executive - Non Independent Director
Mr. Shantanu AgarwalExecutive Director-MD
Mr. Raman Singh SidhuNon-Executive - Independent Director
Mrs. Romi JattaNon-Executive - Independent Director
Mr. Amitabh GuptaNon-Executive - Independent Director
Mr. Suman Jyoti KhaitanNon-Executive - Independent Director
Mr. Manoj GuptaChief Financial Officer
Mr. Sandeep SinghCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Maral Overseas Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Dividend dividend17 Aug 2022 · ex-date₹2

1

Board meeting to consider results30 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

18 announcementsExport CSV

8 Sept 2026, 6:00 pmCompany Update

Report On Re-Lodgement Of Transfer Requests Of Physical Shares Under Special Window

General PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	35.2%	34.6%	40.6%	39.5%	32.9%	36.6%	37.9%	40.4%
EBITDA margin %	4.8%	1.1%	8.5%	10.8%	1.9%	3.8%	2.2%	4.9%
EBIT margin %	2.1%	-2.5%	4.7%	8.4%	-1%	0.3%	-1.1%	1.6%
PAT margin %	1.1%	-2.3%	2%	6.2%	-1.6%	-1%	-2.3%	0.3%
Working capital
Receivable days	46	41	56	37	35	46	48	47
Inventory days	81	81	97	112	95	98	76	83
Payable days	43	48	59	62	28	22	36	45
NWC days	84	74	94	87	103	123	89	85
Leverage
Current ratio	0.85	0.81	1	1.26	1.07	0.98	0.9	0.93
Debt to EBITDA	1.41	5.04	3.67	1.85	16.93	11.52	18.35	7.05
Debt to equity	0.5	0.45	2.02	1.31	2.33	3.23	3.82	3.08
Interest coverage	1.8	0	2.3	5.4	0.2	0.8	0.3	1
Asset turnover	1.67	1.56	1.43	1.84	1.62	1.27	1.43	1.42
Return ratios
Return on assets %	1.8%	-3.5%	2.8%	11.4%	-2.5%	-1.3%	-3.3%	0.5%
Return on capital employed %	21.3%	0.3%	23.1%	50%	1.7%	7.6%	3.1%	12%
Return on equity %	8.1%	-18.2%	12.8%	40.4%	-11.3%	-7.4%	-22.2%	2.9%

Date	Category	Subject	Filing
8 Sept 2026, 6:00 pm	Company Update General	Report On Re-Lodgement Of Transfer Requests Of Physical Shares Under Special Window	PDF
3 Sept 2026, 4:15 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
26 Aug 2026, 6:00 pm	AGM/EGM AGM	Maral Overseas Ltd - 521018 - Voting Results Of 37Th AGM Under Regulation 44(3) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
26 Aug 2026, 5:52 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
25 Aug 2026, 4:55 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
7 Aug 2026, 4:26 pm	Company Update General	Update On Re-Lodgment Of Transfer Requests Of Physical Shares Under Special Window.	PDF
1 Aug 2026, 5:17 pm	Company Update General	Intimation For Sending Letters To Those Members Whose E-Mail Addresses Are Not Registered With Company'S RTA Or Dps. The Said Letter Provides The Web Link/QR Code To Download Notice Convening The 37Th AGM And The Annual Report For The FY 2025-26	PDF
1 Aug 2026, 3:21 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	44	68	31	56	38	34	16	63	76	90
	-22	-26	-39	-11	-3	-31	-90	-124	-28	-7
	-24	-41	11	-42	-43	-2	76	59	-48	-82
Net cash flow	-2	1	3	4	-8	1	2	-2	-0	1
Free cash flow	—	—	—	—	34	4	-76	-62	44	75
CFO / Operating profit %	487.5%	756.8%	85.3%	752.9%	71.1%	29%	80.3%	170.2%	335%	185%

Maral Overseas Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

1

Announcements

Not in the F&O segment

No fund holdings on record

1

1

Announcements

Annual reports

Credit ratings

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

FABRIC · revenue

Maral Overseas Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends1

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Dividends1

Board meetings1

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

FABRIC · revenue

1

1

1

1