On 6 Nov 2026, Maral Overseas was priced at ₹60.48, or 7.9× trailing earnings, against an industry P/E of 17.0×, and the shares are 12% below their 52-week high. Sales fell 1.6% a year over 3 years, with ROCE of 11% and ROE of 29%. Debt is 3.12× equity. It is a small-cap company with a market cap of ₹251 Cr, ranked 80th of 246 Textile Manufacturing companies by market cap; the shares rose 33% over the past year.
- ₹60.40
- ₹62.25
- ₹58.40
- ₹61.22
- 2.6K
Health check
- ReturnsIn line
+33.2% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 7.9 vs industry 17.0.
- GrowthShrinking
Sales −1.6% a year over 3 years.
- ProfitabilityAverage
ROCE 11.2% vs peer median 10.7%.
- Balance sheetStretched
Debt 3.12× equity, interest covered 1.8×.
- Red flags2 to check
Debt is 3.12× equity.
Small cap
Defensive
Key metrics
- Market cap
- ₹251 Cr
- Small cap
- P/E
- 7.9
- Industry 17.0
- Price to book
- 2.01
- Peers 3.81
- Dividend yield
- 0.00%
- ROE
- 29.1%
- Peers 10.1%
- ROCE
- 11.2%
- Peers 10.7%
- Debt to equity
- 3.12
- Debt ₹390 Cr
- EPS (TTM)
- ₹7.62
- Face value ₹10
- OPM (TTM)
- 6.8%
- Net margin 3.0%
- Sales growth
- +20.7%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.23
- EV/EBITDA 7.9
Strengths and risks
Strengths
- Return on equity of 29.1%.
- Quarterly sales up 20.7% on a year ago.
- P/E of 7.9 against an industry P/E of 17.0.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Debt is 3.12× equity.
- Interest coverage of only 1.8×.
About Maral Overseas
Maral Overseas Limited, a textile company, produces and sells yarns, fabrics, and apparel in India, North America, Europe, Gulf, the Middle East, the Far East and South East Asia, Africa, and internationally. It operates in three segments: Yarn, Fabric, and Garment. The company offers various yarn, including single, double, dyed; combed and carded; polyester/ cotton blended; double yarns and multifold; BCI, organic cotton, fairtrade certified cotton,…
- Headquarters
- Noida
- Employees
- 4,584
- Sector
- Consumer Cyclical
- ISIN
- INE882A01013
- Website
- maraloverseas.com
Price range
- Avg volume (3M)
- 24K
- 1-year return
- plus 33.2%
- From 52-week high
- minus 12.2%
Peers · Textile Manufacturing
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KPRMILLK.P.R. Mill | 1,164.40 | minus 0.25% | 39,883 | 38.3 | 6.41 | 20.0% | 18.0% | 22.1% | 2.3% | 2.1% | 0.43% | plus 10.5% |
| WELSPUNLIVWelspun Living | 241.30 | minus 4.75% | 22,717 | 52.8 | 4.47 | 5.8% | 8.8% | 28.7% | 5.7% | 0.9% | 0.04% | plus 96.2% |
| VTLVardhman Textiles | 508.80 | minus 4.89% | 14,729 | 14.3 | 1.38 | 8.6% | 7.3% | 13.7% | −0.8% | −2.1% | 0.98% | plus 22.2% |
| ARVINDArvind | 494.75 | minus 0.58% | 12,969 | 28.4 | 3.10 | 15.4% | 11.1% | 10.9% | 3.4% | 0.8% | 0.91% | plus 57.3% |
| TRIDENTTrident | 23.88 | plus 0.08% | 12,168 | 25.4 | 2.53 | 10.7% | 10.1% | 14.9% | 1.8% | −5.1% | 2.09% | minus 16.6% |
| ICILIndo Count Industries | 489.85 | minus 2.25% | 9,702 | 39.8 | 3.81 | 9.5% | 5.5% | 9.7% | 11.6% | −22.9% | 0.31% | plus 78.7% |
| GARFIBRESGarware Technical Fibres | 715.65 | minus 2.13% | 6,988 | 29.8 | 4.97 | 19.3% | 15.3% | 19.2% | 5.6% | 4.9% | 1.26% | minus 3.9% |
| MARALOVERMaral Overseas | 60.48 | minus 1.21% | 251 | 7.9 | 2.01 | – | 29.1% | 6.8% | – | – | 0.00% | plus 33.2% |
| Median of 7 peers | – | −2.13% | 12,969 | 29.8 | 3.81 | 10.7% | 10.1% | 14.9% | 3.4% | 0.8% | 0.91% | 22.2% |
Quarterly results
| ₹ Cr | Sep 25 | Dec 25 | Mar 26 | Jun 26 | Sep 26 |
|---|---|---|---|---|---|
| 250 | 247 | 258 | 263 | 301 | |
| 241 | 228 | 240 | 246 | 283 | |
| 9.1 | 19.4 | 18.3 | 16.7 | 18.2 | |
| 3.6% | 7.8% | 7.1% | 6.4% | 6.0% | |
| 4.7 | 4.3 | 9.8 | 5.7 | 6.9 | |
| 9.1 | 9.4 | 8.9 | 9.2 | 9.7 | |
| 7.7 | 8 | 8 | 8 | 7.9 | |
| – | −0.6 | – | – | – | |
| −3.1 | 5.7 | 11.2 | 5.3 | 7.5 | |
| 11.3% | 6.5% | −18.6% | −12.3% | 6.6% | |
| −2.8 | 5.3 | 13.3 | 6 | 7 | |
| -0.67 | 1.28 | 3.21 | 1.44 | 1.69 |
Profit & loss
- Sales CAGR 3Y
- −1.6%
- ROE
- 29.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,002 | 960 | 1,019 | 955 | |
| – | minus 4.2% | +6.2% | minus 6.3% | |
| 973 | 923 | 984 | 892 | |
| 29 | 36.8 | 35.1 | 63.5 | |
| 2.9% | 3.8% | 3.4% | 6.6% | |
| 6.7 | 22.4 | 14.7 | 11.6 | |
| 21.9 | 34 | 35.9 | 34.6 | |
| 32.5 | 34.3 | 39.7 | 38.9 | |
| 0.4 | 0.5 | 0.1 | −0.6 | |
| −18.4 | −8.5 | −25.6 | 1 | |
| 13.2% | −15.3% | 5.6% | −224.2% | |
| −15.9 | −9.8 | −24.2 | 3.3 | |
| -3.84 | -2.35 | -5.83 | 0.79 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 41.5 | 41.5 | 41.5 | 41.5 | |
| 99.5 | 90 | 67.4 | 69.2 | |
| 372 | 476 | 449 | 374 | |
| 120 | 150 | 174 | 206 | |
| 633 | 758 | 732 | 690 | |
| 242 | 354 | 337 | 307 | |
| 41 | 9.2 | 1.2 | 0 | |
| 5.6 | 31 | 24.1 | 22.1 | |
| 3.7 | 1.7 | 1.4 | 2.5 | |
| 340 | 362 | 369 | 359 | |
| 633 | 758 | 732 | 690 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 15.6 | 61.1 | 75.9 | 89.6 | |
| −89.6 | −122 | −28.3 | −6.9 | |
| 75.9 | 58.5 | −47.9 | −81.9 | |
| 1.9 | −2.3 | −0.4 | 0.8 | |
| −92.8 | −125 | −32.2 | −14.5 | |
| −77.2 | −63.6 | 43.7 | 75.1 | |
| −8.3 | – | – | – |
Shareholding pattern
- Promoters74.95%
- Public25.05%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.95% | 25.05% | 0.00 | |
| 30 Jun 2026 | 74.95% | 25.05% | 0.00 | |
| 31 Mar 2026 | 74.95% | 25.05% | 0.00 | |
| 31 Dec 2025 | 74.95% | 25.05% | 0.00 | |
| 30 Sep 2025 | 74.95% | 25.05% | – |
Major shareholders
Filings & events
News
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