Investors'' presentation on unaudited financial results for the quarter ended 30th June, 2025.
MARKOLINES · price
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Markolines Pavement Technologies reported Q1FY26 consolidated revenue of Rs. 72.72 crore, up 44.4% year-on-year, with PAT surging 119% YoY to Rs. 3.79 crore and EBITDA growing 37% YoY to Rs. 7.51 crore. EPS rose 91% YoY to Rs. 1.72. On a sequential basis, however, revenue fell about 40% from Q4FY25's Rs. 121.51 crore and PAT dropped nearly 69%, reflecting typical lumpy execution in the infrastructure business. The company has a strong Rs. 400 crore unexecuted order book as of June 30, 2025, providing 12-24 months of revenue visibility, with an additional Rs. 600+ crore in pipeline. Recent corporate actions include migration to BSE Mainboard on June 12, 2025, filing of NSE Mainboard listing application on August 9, 2025, and ongoing merger of Markolines Infra Ltd into the company. For full-year FY25, revenue declined 11.5% to Rs. 307.43 crore but PAT grew 31% to Rs. 22.71 crore with EBITDA margin expanding 430 basis points to 14.52%, showing clear margin improvement.
Strong YoY earnings growth and a robust order pipeline signal healthy business momentum, while the BSE Mainboard migration and pending NSE listing should improve liquidity and investor access. However, the sharp sequential drop from Q4FY25 highlights lumpiness in project execution, which investors should monitor in upcoming quarters.