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Companies›Industrials›Capital Goods›Industrial Manufacturing
NSE:MARINE

MARINE ELECTRICAL (I) LTD

Capital Goods › Industrial Manufacturing
₹417.40
at close · 28 Oct 2026
▼ 11.60 (-2.70%)
ThemesDefence· coreElectric Vehicles· growingRailways· growingSolar Energy· mention

Latest filings

Next results: Wed, 4 Nov · Financial Results
  1. Marine Electricals wins orders worth Rs 362.34 crore · Business Updates
  2. Routine filing: SEBI Reg 74(5) certificate for Q2 FY27 · Compliance
  3. Marine Electricals bags orders worth about Rs 393.52 crore · Business Updates
All filings ↓
Ask Nexa about MARINE ELECTRICAL (I) LTD

Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures and supplies electrical systems for marine vessels and industrial customers. FY26 revenue of Rs 876.94 crore is split between Marine (52.9% of segment revenue, Rs 464.16 crore) and Industry (47.1%, Rs 412.77 crore) segments. The Marine segment serves shipyards such as Udupi Cochin Shipyard with alarm monitoring systems on 24-month delivery timelines. The Industry segment delivers power distribution systems to data centres and hyperscalers — FY26 order wins include Princeton Digital Group (Rs 96.40 crore, 12-14 months), STT Global Data Centres India, Adani Infra, a Siemens hyperscaler project, and Deepak Chem Tech, with deliveries running 8-24 months. A 99%-owned subsidiary, MEL Heavy Industries (formerly partnership firm Narhari Engineering Works), makes electric motors, pump sets and other electrical products, with stable turnover of around Rs 21-22 crore over the past three years. Materials and components are the dominant cost line, followed by employee costs and other operating expenses. FY26 EBITDA margin stood at 12.49% on total assets of Rs 890.45 crore, with net profit of Rs 58.62 crore.

Revenue mix · reported segments
Marine52.9%
Industry47.1%
Operating scale
Marine segment revenue
Rs 464.16 croreFY26
Industry segment revenue
Rs 412.77 croreFY26
Marine segment EBIT
Rs 40.03 croreFY26
Industry segment EBIT
Rs 39.98 croreFY26
MEL Heavy Industries subsidiary turnover
Rs 21-22 crore per yearTrailing 3 years
ICRA-rated credit facilities (total)
Rs 419.50 croreFY26
Who pays it
Shipyards and naval clients (Marine) plus data centre operators, hyperscalers and industrial customers (Industry).
Biggest cost
Materials and components at 70.6% of FY26 revenue.
Kind of business
Project-order driven industrial electrical systems manufacturer with multi-year delivery cycles.
Where it sits
Two-segment electrical systems business serving marine (shipyards/navy) and industrial (data centres, hyperscalers) customers, with a 99%-owned subsidiary making electric motors and pump sets.
Market Cap
₹5,841 Cr
P / E (TTM)
90.5×
EV / EBITDA
49.2×
Div Yield
0.07%
Growth
28.4%▲
Revenue 5y CAGR
PAT +34.1% · EBITDA +25.7%
Quality
17.8%▲
ROCE (FY26)
ROE 11.7% · margin 12.5%
Leverage
0.17·
Debt / Equity · low
Net debt ₹62 Cr
Revenue FY21→FY26
3.5×▲
Margin +1.3 pts
₹251 Cr → ₹877 Cr
Cash conversion
0.50×▼
Operating cash ÷ profit · 5 yrs
₹77 Cr on ₹153 Cr
Moves on a normal day
2.01%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 145 Industrial Products peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#112/130
P/B#100/112
ROCE#55/142
ROE#43/113
Debt / Equity#62/113
EBITDA margin#55/110
Revenue growth#22/114
Profit growth#42/109

Scorecard

Measured from the filed financials, judged against its Industrial Products peers · as of FY26 — not investment advice

Strengths
Revenue compounding 28% a year over 5 years
Profit compounding 34% a year over 5 years
Returns on capital 17.8%
#55 of 142 in Industrial Products on the latest reported figures
Concerns
Over 5 years it reported ₹153 Cr of profit and ₹77 Cr of operating cash — 0.50×
Less than 60p of every ₹1 of profit arrived as cash

Charts

How has the market priced it — with filings on the timeline?

MARINE · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from MARINE ELECTRICAL (I) LTD's filed financials and exchange disclosures

What does MARINE ELECTRICAL (I) LTD do?

MARINE ELECTRICAL (I) LTD is a Industrial Manufacturing company listed on NSE, trading under the symbol MARINE.

Is MARINE ELECTRICAL (I) LTD profitable?

Yes. Over the trailing twelve months MARINE ELECTRICAL (I) LTD reported a net profit of ₹65 Cr on revenue of ₹969 Cr.

Does MARINE ELECTRICAL (I) LTD pay a dividend?

Yes. The dividend yield is 0.07% at the current price. It paid out 7% of its profit as dividend in FY26.

Is MARINE ELECTRICAL (I) LTD debt-free?

No. It reported borrowings of ₹84 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹62 Cr after cash. Debt stands at 0.17× equity. That is higher than 54% of its 113 Industrial Products peers.

Is MARINE ELECTRICAL (I) LTD expensive compared with its peers?

On trailing P/E, MARINE ELECTRICAL (I) LTD ranks 112 of 130 in Industrial Products — cheaper than 14% of them, against an industry median of 26.7×. This is a position, not a valuation judgement.

How much does the MARINE ELECTRICAL (I) LTD share price move in a day?

On a typical session MARINE ELECTRICAL (I) LTD moves 2.01% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

When are MARINE ELECTRICAL (I) LTD's next results?

Financial Results on Wed, 4 Nov. MarketPing alerts you on WhatsApp the moment the filing lands.

Where can I track MARINE ELECTRICAL (I) LTD's announcements?

Every NSE and BSE filing by MARINE ELECTRICAL (I) LTD appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.