Marine Electricals (India) Limited

About

Marine Electricals (India) Limited manufactures and sells various marine and industrial electrical and electronic components in India and internationally. The company operates through Marine and Industry segments. It provides marine and defence solutions that offer power generation and distribution solutions, including main switch boards, automated power management systems, motor control centers/group starter panels/local starter panels, distribution boards, battery charger/transformer rectifier units, and navigation light control panels; internal communication systems comprising automatic telephone, self-powered telephone, public address-general alarm, sound reception, and talk-back systems; electrical and hybrid propulsion systems consisting of battery energy storage systems, air- and liquid-cooled drive systems, and motors and alternators; marine LED lights, such as automatic emergency lanterns, flush mounted lights/cabin, flood lights/hanger, pendant, explosion proof pendant, red pendant, weather deck, bilge, tube, bunk, and engine room lights; ancillary systems that include addressable flood alarm systems, wind speed and direction systems, all weather observation systems, data distribution units, and auto transfer switches; and marine motors that comprises brake, SPDP, FLP, winged, dual speed and three speed, salvage pump, and canned motors. Its defence solutions also offer integrated bridge and integrated platform management systems. In addition, the company's commercial solutions provide monitoring and control systems, and integrated navigation and communication systems. Further, it provides LV switchboards, MV switchboards, busducts and bustrunking systems, integrated powering solutions, and IBMS. Additionally, the company offers maritime domain awareness solutions, and mobility product and software solutions, as well as the Biz starter pack. Marine Electricals (India) Limited was founded in 1978 and is headquartered in Mumbai, India.

Key Metrics

as of Sep 2026

Market Cap6,048 Cr

P/E93.00

Div Yield0.07 %

Book Value₹35.20

52w High₹450.00

52w Low₹151.00

Face Value₹2.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	259.00	277.00	210.00	222.00	167.00	251.00	194.00	184.00	138.00	237.00	147.00	137.00	101.00
Expenses	231.00	246.00	190.00	196.00	150.00	228.00	182.00	163.00	125.00	217.00	135.00	127.00	91.00
Operating Profit	28.00	32.00	20.00	26.00	17.00	22.00	11.00	21.00	13.00	20.00	11.00	10.00	10.00
OPM %	11.00	11.00	10.00	12.00	10.00	9.00	6.00	12.00	10.00	9.00	8.00	7.00	10.00
Other Income	4.00	2.00	4.00	4.00	5.00	4.00	4.00	2.00	3.00	4.00	1.00	2.00	1.00
Depreciation	5.00	4.00	4.00	4.00	3.00	4.00	4.00	4.00	3.00	3.00	3.00	2.00	2.00
Interest	4.00	8.00	4.00	4.00	3.00	3.00	4.00	4.00	3.00	4.00	3.00	3.00	3.00
Profit before tax	24.00	22.00	16.00	22.00	15.00	18.00	8.00	16.00	10.00	17.00	7.00	7.00	6.00
Tax %	26.00	17.00	24.00	26.00	25.00	27.00	40.00	21.00	27.00	28.00	23.00	30.00	37.00
Net Profit	18.00	19.00	12.00	17.00	12.00	14.00	5.00	13.00	7.00	12.00	5.00	5.00	4.00
EPS in Rs	1.23	1.32	0.85	1.20	0.84	0.97	0.38	0.92	0.54	0.96	0.38	0.37	0.28

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Sales	877.00	767.00	622.00	443.00	376.00	251.00	263.00	400.00	369.00	272.00	250.00	236.00
Expenses	782.00	698.00	570.00	404.00	344.00	224.00	240.00	378.00	337.00	246.00	229.00	216.00
Operating Profit	94.00	69.00	52.00	39.00	32.00	27.00	22.00	22.00	31.00	26.00	21.00	20.00
OPM %	11.00	9.00	8.00	9.00	9.00	11.00	9.00	6.00	9.00	9.00	8.00	8.00
Other Income	15.00	13.00	7.00	5.00	4.00	8.00	6.00	4.00	3.00	2.00	2.00	3.00
Interest	19.00	14.00	12.00	10.00	7.00	9.00	11.00	8.00	7.00	5.00	3.00	5.00
Depreciation	15.00	16.00	10.00	8.00	9.00	9.00	10.00	5.00	5.00	5.00	5.00	6.00
Profit before tax	76.00	52.00	36.00	25.00	19.00	17.00	8.00	13.00	23.00	18.00	14.00	12.00
Tax %	23.00	27.00	29.00	33.00	32.00	20.00	24.00	29.00	28.00	38.00	34.00	29.00
Net Profit	59.00	38.00	26.00	17.00	13.00	14.00	6.00	9.00	16.00	11.00	9.00	9.00
EPS in Rs	4.17	2.79	1.95	1.35	1.06	1.05	0.46	0.75	1.75	1.19	1.07	0.92
Dividend Payout %	0.00	11.00	10.00	0.00	0.00	19.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Equity Capital	28.00	28.00	27.00	25.00	25.00	25.00	25.00	25.00	18.00	17.00	17.00	17.00
Reserves	465.00	376.00	224.00	183.00	150.00	138.00	126.00	130.00	78.00	58.00	46.00	36.00
Borrowings	89.00	55.00	97.00	66.00	37.00	58.00	56.00	57.00	46.00	40.00	32.00	24.00
Other Liabilities	309.00	266.00	268.00	192.00	162.00	162.00	176.00	162.00	212.00	112.00	54.00	66.00
Total Liabilities	890.00	725.00	616.00	466.00	373.00	383.00	383.00	373.00	354.00	227.00	149.00	143.00
Fixed Assets	99.00	75.00	75.00	66.00	49.00	48.00	53.00	43.00	39.00	56.00	43.00	40.00
CWIP	14.00	16.00	6.00	0.00	2.00	0.00	0.00	14.00	14.00	0.00	0.00	0.00
Investments	3.00	6.00	6.00	3.00	3.00	3.00	5.00	3.00	3.00	0.00	0.00	0.00
Other Assets	775.00	627.00	529.00	396.00	319.00	331.00	325.00	313.00	297.00	171.00	106.00	104.00
Total Assets	890.00	725.00	616.00	466.00	373.00	383.00	383.00	373.00	354.00	227.00	149.00	143.00

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017
Cash from Operating Activity	-16.00	55.00	-7.00	-2.00	47.00	2.00	23.00	-53.00	31.00	13.00
Cash from Investing Activity	-17.00	-95.00	-21.00	-28.00	-19.00	1.00	-1.00	1.00	-23.00	-16.00
Cash from Financing Activity	37.00	52.00	32.00	31.00	-31.00	-7.00	-19.00	44.00	3.00	2.00
Net Cash Flow	4.00	12.00	4.00	1.00	-3.00	-3.00	3.00	-9.00	11.00	-1.00
Free Cash Flow	-43.00	35.00	-32.00	-24.00	37.00	-2.00	23.00	-61.00	24.00	-5.00
CFO/OP %	6.00	106.00	4.00	13.00	167.00	18.00	111.00	-205.00	118.00	74.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2018	Mar 2017	Mar 2016	Mar 2015
Debtor Days	178.00	157.00	186.00	186.00	167.00	252.00	235.00	174.00	182.00	148.00	104.00	91.00
Inventory Days	50.00	52.00	72.00	71.00	102.00	166.00	146.00	64.00	61.00	73.00	29.00	47.00
Days Payable	135.00	129.00	167.00	161.00	159.00	267.00	292.00	154.00	209.00	168.00	78.00	94.00
Cash Conversion Cycle	93.00	80.00	91.00	96.00	110.00	152.00	90.00	84.00	33.00	52.00	55.00	43.00
Working Capital Days	104.00	129.00	79.00	95.00	108.00	157.00	121.00	87.00	16.00	76.00	67.00	49.00
ROCE %	18.00	16.00	15.00	14.00	12.00	12.00	9.00	12.00	22.00	21.00	20.00	23.00

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	68.20	68.20	68.54	68.46	68.45	68.45	68.45	71.17	71.17	71.98	72.87	73.84
FIIs	1.12	0.59	0.65	0.18	0.08	0.15	0.96	0.25	0.15	0.02	0.00	0.00
DIIs	0.41	0.34	0.12	0.12	0.07	0.04	0.04	0.08	0.11	0.00	0.00	0.00
Public	30.27	30.87	30.69	31.24	31.40	31.35	30.56	28.50	28.56	27.99	27.12	26.16
No. of Shareholders	86,580	89,030	89,679	94,688	96,332	93,629	89,628	83,799	55,983	50,304	49,305	51,594

Corporate Actions

6 records

Action	Ex Date	Record Date	Ratio	Amount (₹)	Notes
Dividend	12 Sep 2025	12 Sep 2025	—	0.30
Dividend	20 Sep 2024	20 Sep 2024	—	0.20
Other	18 Sep 2023	—	—	—	Annual General Meeting
Other	09 Sep 2022	—	—	—	Annual General Meeting
Dividend	20 Sep 2021	—	—	0.20
Split	18 Feb 2021	22 Feb 2021	10:2	—

Announcements

5 filings

Bagging/Receiving of orders/contracts
04 Sep 2026 4 Sep - Marine Electricals won orders aggregating ₹80.77 crore from DXDC Chennai and Micron Semiconductor, deliverable in 4-5 months.
Bagging/Receiving of orders/contracts
01 Sep 2026 1 Sep - Marine Electricals won Rs. 229.73 crore orders from Digital Edge DC; delivery over 15 months.
Bagging/Receiving of orders/contracts
31 Aug 2026 31 Aug - Marine Electricals won Rs 398.81 crore orders for power distribution systems, delivered over 6-18 months.
Copy of Newspaper Publication
17 Aug 2026 17 Aug - Marine Electricals published Q1 FY27 unaudited standalone and consolidated results for quarter ended 30 June 2026.
Press Release
17 Aug 2026 17 Aug - Q1 FY27 revenue rose 55% to Rs. 259 crore; PAT up 51%, order backlog reached Rs. 2,073 crore.

Annual Reports

Credit Ratings

Rating update
24 Jul from icra
Rating update
25 Apr 2025 from icra
Rating update
14 Aug 2024 from icra
Rating update
28 Mar 2024 from icra
Rating update
5 Jan 2023 from icra
Rating update
28 Nov 2022 from icra

Conference Calls

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