Maral Overseas Limited (MARALOVER) AI Stock Analysis

• Market Cap: ₹1.64B
• Dividend Yield: N/A
• Average Volume (3M): 1.69K
• Price to Earnings (P/E): 8.7
• Beta (1Y): 0.82
• Revenue Growth: -0.90%
• EPS Growth: -304.07%
• Country: IN
• Employees: 2,587
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Apparel - Manufacturers
• EPS (TTM): 1.28
• Shares Outstanding: 41,508,000
• 10 Day Avg. Volume: 1,001
• 30 Day Avg. Volume: 1,690
• PEG Ratio: -0.07
• Price to Book (P/B): 2.39
• Price to Sales (P/S): 0.25
• P/FCF Ratio: 5.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: ₹39.00 ▼(-10.73% Downside)
• Action: Reiterated Date: 11/25/25
• Date: Action: Reiterated 11/25/25

The overall stock score is primarily influenced by financial performance, which reflects mixed results with strong gross margins but significant profitability challenges. Technical analysis indicates a bearish trend, and valuation is weak due to the negative P/E ratio. The absence of earnings call data and corporate events means these factors do not impact the score.

Positive Factors

Healthy gross margins

Sustained gross margins indicate durable unit economics in manufacturing and pricing power in core products. That margin buffer supports recovery in operating profits if sales stabilize, enabling the company to cover fixed costs and preserve cash generation over months.

Strong operating cash generation

Consistent operating cash flow demonstrates the business can convert sales into liquidity, providing runway to fund working capital, capex, and debt servicing during loss-making periods. This underpins solvency and options for reinvestment or restructuring.

Substantial equity/asset backing

A meaningful equity ratio provides a cushion against shocks and supports access to credit or refinancing. Asset backing reduces downside risk for creditors and owners, giving the company flexibility to manage leverage or pursue strategic adjustments over the medium term.

Negative Factors

High financial leverage

Elevated leverage increases interest burden and refinancing risk, constraining cash available for operations and growth. In an apparel business with revenue variability, high debt amplifies vulnerability to downturns and limits strategic flexibility for 2-6 months or longer.

Ongoing net losses

Persistent net losses erode equity and suppress return metrics, hindering the firm's ability to self-fund growth or deleverage. Continued unprofitability raises sustainability questions and may force cost cuts or capital raises that dilute strategic options over time.

Inconsistent revenue growth

Volatile or negative revenue trends reduce predictability of margins and free cash flow, limiting scale benefits in manufacturing. Inconsistent top-line performance complicates planning, weakens bargaining power with suppliers, and prolongs the path to stable profitability.

Maral Overseas Limited Business Overview & Revenue Model

Company Description

Maral Overseas Limited manufactures and sells cotton and blended yarns, knitted and processed fabrics, and ready-made garments. It operates in three segments: Yarn, Fabric, and Textile Made-Ups. The company provides single, double, dyed, cotton, polyester/cotton blended, viscose, modal, lyocell and blends, bamboo and blends, acrylic and blends, cotton/nylon, triblends, miyabi, giza, pima/supima, contamination free, compact, slub, injected slub, eli twist, zero twist, reverse twist, P/C siro/mock twist, BCI, organic cotton, recycle cotton and polyester, synthetic, and cellulosic yarns used in various applications, such as circular and socks knitting, flat knits, home furnishing, towel weaving, carpets and rugs, denims, industrial and bottom weight fabrics, suiting and shirts, yarn dyeing, and weaving. It also offers fabrics in various knits, such as single jersey, rib, interlock, piquet, fleece, French rib, pointelle, and autostriper/engineered stripe products; special fibers and yarns comprising bamboo and blends, soya and blends, organic cotton, fairtrade certified cotton, polyester, slub fabric, modal and blends, and lyocell and blends; and special finishes. In addition, the company provides a range of garments consisting of active wear, casual wear, and sleepwear for men and ladies; and fair trade garments and soft toys for infants and kids. The company operates in India, North America, Europe, Gulf and the Middle East, the Far East and South East Asia, Africa, and internationally. Maral Overseas Limited was incorporated in 1989 and is headquartered in Noida, India.

How the Company Makes Money

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Maral Overseas Limited Financial Statement Overview

Summary

Maral Overseas Limited shows potential with strong gross margins and operating cash flows. However, ongoing net losses and high leverage are significant concerns. The company needs to stabilize revenue growth and improve profitability to enhance financial health.

Income Statement

The income statement reflects mixed performance with fluctuating revenues and profitability. While the gross profit margin remains relatively healthy, the company experienced net losses in recent years, impacting the net profit margin negatively. Revenue growth has been inconsistent, and EBIT and EBITDA margins have shown volatility, indicating profitability challenges.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio, signaling significant leverage that could pose financial risk. Return on equity has been negative due to net losses, further impacting financial stability. However, the company maintains a substantial equity ratio, suggesting some level of asset backing.

Cash Flow

The cash flow statement reveals robust operating cash flow, although free cash flow has been inconsistent due to varying capital expenditures. The operating cash flow to net income ratio indicates strong cash generation capability, but free cash flow growth remains a concern.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	10.00B	10.47B	9.36B	10.26B	10.58B	6.22B
Gross Profit	2.71B	3.97B	2.89B	276.22M	3.55B	2.16B
EBITDA	430.97M	226.50M	624.40M	289.89M	1.42B	638.90M
Net Income	-261.44M	-242.00M	-97.64M	-159.30M	669.78M	125.31M
Balance Sheet
Total Assets	6.82B	7.32B	7.58B	6.33B	5.90B	4.42B
Cash, Cash Equivalents and Short-Term Investments	62.94M	58.90M	17.26M	36.79M	17.80M	8.89M
Total Debt	4.13B	4.49B	4.76B	3.72B	2.43B	2.04B
Total Liabilities	5.90B	6.23B	6.26B	4.92B	4.24B	3.44B
Stockholders Equity	922.70M	1.09B	1.32B	1.41B	1.66B	976.43M
Cash Flow
Free Cash Flow	520.38M	436.50M	-635.50M	-759.60M	36.63M	342.94M
Operating Cash Flow	559.60M	758.80M	611.49M	156.10M	340.52M	380.95M
Investing Cash Flow	-9.69M	-283.10M	-1.22B	-896.20M	-310.28M	-25.00M
Financing Cash Flow	-550.55M	-479.30M	585.09M	758.70M	-23.30M	-434.51M

Maral Overseas Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 43.69
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MARALOVER, the sentiment is Negative. The current price of 43.69 is above the 20-day moving average (MA) of 43.39, above the 50-day MA of 42.40, and below the 200-day MA of 53.64, indicating a bearish trend. The MACD of -0.98 indicates Positive momentum. The RSI at 40.15 is Neutral, neither overbought nor oversold. The STOCH value of 20.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MARALOVER.

Maral Overseas Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANOMAY	69 Neutral	₹3.79B	19.63	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
LAMBODHARA	62 Neutral	₹947.99M	13.04	―	0.42%	13.13%	-2.13%
SHIVATEX	59 Neutral	₹1.87B	36.61	―	0.33%	15.16%	780.57%
MARALOVER	47 Neutral	₹1.64B	8.66	―	―	-0.90%	-304.07%
BASML	44 Neutral	₹1.52B	22.90	―	―	-8.50%	―

Maral Overseas Limited Corporate Events

Maral Overseas Reports No Re-lodgment Requests for Physical Share Transfers

Maral Overseas Limited, a listed textile company of the LNJ Bhilwara Group with operations in Noida and Madhya Pradesh, has disclosed an update related to the handling of physical share transfers. The company uses MCS Share Transfer Agent Limited as its registrar and share transfer agent, reflecting a standard outsourced framework for managing shareholder records.

The company informed the stock exchanges that, pursuant to a recent SEBI circular providing a special window for re-lodgment of transfer requests of physical shares, its registrar has submitted a report for the period from 5 February 2026 to 4 March 2026. During this window, no requests for re-lodgment of transfer of physical shares were received, processed, approved, or rejected, indicating no shareholder activity under this regulatory facility for the period under review.

Maral Overseas Shareholders Approve Appointment of Independent Director via Postal Ballot

Maral Overseas Limited has announced that shareholders have approved, via postal ballot and remote e‑voting, a special resolution appointing Shri Suman Jyoti Khaitan as an Independent Director of the company. The resolution, passed with the requisite majority under SEBI’s listing regulations, updates the company’s board composition and may strengthen its corporate governance framework, with detailed voting results and the scrutinizer’s report made available on the company’s and NSDL’s websites for investor reference.