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. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Marine (53%), Industry (47%). Project-order driven industrial electrical systems manufacturer with multi-year delivery cycles.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 376 | 443 | 622 | 767 | 877 |
| EBITDA (ex other income) | 31 | 39 | 52 | 69 | 93 |
| margin % | 8.3 | 8.7 | 8.3 | 9.0 | 10.6 |
| Owners' profit | 13 | 17 | 26 | 38 | 58 |
| EPS, as reported (₹) | 1.06 | 1.38 | 2.02 | 2.83 | 4.22 |
| ROE % · ROCE % | — · — | 7.8 · 14.5 | 10.1 · 16.9 | 9.3 · 15.2 | 11.7 · 17.8 |
| Debt / equity (x) | — | 0.30 | 0.37 | 0.12 | 0.17 |
| Cash from operations | 47 | (2) | (7) | 55 | (16) |
| Capex | (12) | (23) | (24) | (22) | (28) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 184 | 194 | 251 | 167 | 222 | 210 | 277 | 259 |
| Profit before tax | 16 | 8 | 19 | 15 | 22 | 16 | 22 | 24 |
| Net profit | 13 | 5 | 14 | 12 | 17 | 12 | 19 | 18 |
| EPS (₹) | 0.95 | 0.39 | 0.97 | 0.84 | 1.20 | 0.85 | 1.33 | 1.23 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Marine | 464 | 52.9 |
| Industry | 413 | 47.1 |
| Total, before eliminations | 877 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Newspaper publication of 19th AGM notice to shareholders | compliance | minimal | — | — |
| 7 Sept 2026 · Marine Electricals AGM on Sep 30, 2026; final dividend of Rs 0.30 per share | board shareholder meetings | low | — | — |
| 6 Sept 2026 · Notice of 19th AGM on Sept 30, 2026 - 7 resolutions including dividend and BSE listing | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Notice of 19th AGM on Sep 30, 2026 with FY25-26 Annual Report | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Marine Electricals files 1st BRSR for FY 2025-26 | compliance | low | — | — |
| 5 Sept 2026 · 19th AGM on Sep 30 2026; final dividend Rs 0.30; BSE listing proposed | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Marine Electricals bags orders worth Rs 80.77 Crore | business updates | high | — | — |
| 1 Sept 2026 · Marine Electricals bags Rs 229.73 crore order from Digital Edge DC | business updates | high | — | — |
| 31 Aug 2026 · Marine Electricals bags orders worth Rs 398.81 crores | business updates | high | — | — |
| 17 Aug 2026 · Q1 FY27 results published in Business Standard and Navshakti newspapers | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 11.3 |
| 13.4 |
| — |
| 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 22,490 | 69.9 | 11.24 | 39.7 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 90.9 | 26.9 | 120 of 138 | 13% |
| P/B | 11.7 | 3.5 | 98 of 111 | 12% |
| ROCE | 14.2 | 11.3 | 56 of 144 | 62% |
| ROE | 11.7 | 9.5 | 44 of 117 | 63% |
| Debt / Equity | 0.2 | 0.2 | 66 of 117 | 44% |
| EBITDA margin | 12.6 | 12.4 | 55 of 110 | 51% |
| Revenue growth | 55.2 | 20.6 | 22 of 114 | 81% |
| Profit growth | 51.0 | 17.1 | 42 of 109 | 62% |
| Market cap | 5864 | 356 | 16 of 140 | 89% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
