Maral Overseas Limited (MARALOVER) AI Stock Analysis

• Market Cap: ₹1.60B
• Dividend Yield: N/A
• Average Volume (3M): 1.69K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.86
• Revenue Growth: -0.90%
• EPS Growth: -304.07%
• Country: IN
• Employees: 2,587
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Apparel - Manufacturers
• EPS (TTM): -0.67
• 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: ₹38.00 ▼(-13.02% Downside)

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

Strong gross margins and operating cash flow

Sustained strong gross margins and operating cash flow signal underlying product-level profitability and effective cost management. Over months, this supports reinvestment in core capabilities, funds working capital needs, and provides a durable cushion while management works to restore net profitability.

Robust operating cash flow generation

Consistent operating cash generation enhances financial flexibility independent of accounting profits. This cash can fund day-to-day operations, selective capex, or debt service, allowing the company to maintain operations and execute strategic initiatives even amid uneven reported earnings.

Substantial equity ratio / asset backing

A substantial equity ratio provides a solvency buffer and tangible asset backing that supports creditor confidence and borrowing capacity. Over the medium term this structural balance-sheet strength can help absorb operational shocks and facilitate refinancing or strategic investments.

Negative Factors

High debt-to-equity ratio / leverage

Elevated leverage increases interest and refinancing burden and reduces financial flexibility. Over months this heightens liquidity risk if cash flows weaken, limits the ability to invest organically, and may force prioritization of debt service over growth or margin-restoring initiatives.

Ongoing net losses and negative ROE

Persistent net losses and negative return on equity signal capital erosion and weak profitability delivery. Over the medium term this undermines shareholder value, makes raising equity or debt more costly, and constrains the company’s ability to fund growth without diluting existing owners.

Steep revenue contraction and inconsistent growth

A near-90% reported revenue decline and inconsistent top-line trends indicate structural demand or execution issues. Sustained revenue weakness pressures margin absorption, limits operating leverage, and makes it harder to restore profitability and justify ongoing fixed-cost commitments over coming months.

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

Maral Overseas Limited generates revenue through multiple key streams, primarily from the manufacturing and sale of textile products, including knitted and woven garments. The company leverages its extensive production capabilities and efficient supply chain to fulfill large orders from international brands and retailers. Additionally, Maral Overseas benefits from strategic partnerships with global fashion labels, which provide consistent demand for its products. The integration of sustainable practices also positions the company favorably in the market, attracting clients who prioritize eco-friendly sourcing. Furthermore, the company may explore export incentives and government subsidies related to textile manufacturing, enhancing its overall profitability.

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	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.22B	10.47B	9.36B	10.26B	10.58B	6.22B
Gross Profit	2.77B	3.97B	2.89B	276.22M	3.55B	2.16B
EBITDA	401.92M	226.50M	624.40M	289.89M	1.42B	638.90M
Net Income	-303.20M	-242.00M	-97.64M	-159.30M	669.78M	125.31M
Balance Sheet
Total Assets	0.00	7.32B	7.58B	6.33B	5.90B	4.42B
Cash, Cash Equivalents and Short-Term Investments	58.90M	58.90M	17.26M	36.79M	17.80M	8.89M
Total Debt	0.00	4.49B	4.76B	3.72B	2.43B	2.04B
Total Liabilities	-1.09B	6.23B	6.26B	4.92B	4.24B	3.44B
Stockholders Equity	1.09B	1.09B	1.32B	1.41B	1.66B	976.43M
Cash Flow
Free Cash Flow	0.00	436.50M	-635.50M	-759.60M	36.63M	342.94M
Operating Cash Flow	0.00	758.80M	611.49M	156.10M	340.52M	380.95M
Investing Cash Flow	0.00	-283.10M	-1.22B	-896.20M	-310.28M	-25.00M
Financing Cash Flow	0.00	-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: Negative
• RSI: Neutral
• STOCH: Positive

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 40.10, above the 50-day MA of 43.36, and below the 200-day MA of 57.58, indicating a bearish trend. The MACD of -1.62 indicates Negative momentum. The RSI at 37.88 is Neutral, neither overbought nor oversold. The STOCH value of 19.73 is Positive, 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
LAMBODHARA	69 Neutral	₹1.15B	14.26	―	0.42%	13.13%	-2.13%
MANOMAY	69 Neutral	₹4.05B	20.68	―	―	8.41%	8.81%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SHIVATEX	59 Neutral	₹2.18B	13.47	―	0.33%	15.16%	780.57%
MARALOVER	47 Neutral	₹1.60B	-6.02	―	―	-0.90%	-304.07%
BASML	47 Neutral	₹1.96B	13.42	―	―	-8.50%	―

Maral Overseas Limited Corporate Events

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.