Marine Electricals (India) Limited (MARINE) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 0.13%
• Average Volume (3M): N/A
• Price to Earnings (P/E): ―
• Beta (1Y): N/A
• Revenue Growth: 20.64%
• EPS Growth: 38.70%
• Country: IN
• Employees: 414
• Sector: Services
• Sector Strength: N/A
• Industry: Marine Shipping
• EPS (TTM): 0.84
• Shares Outstanding: N/A
• 10 Day Avg. Volume: N/A
• 30 Day Avg. Volume: N/A
• PEG Ratio: 1.42
• Price to Book (P/B): 5.44
• Price to Sales (P/S): 2.86
• P/FCF Ratio: 49.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 62 Neutral
• Price Target: ―

The overall stock score is primarily driven by strong financial performance, reflecting revenue and profit growth, along with improved margins. However, the high P/E ratio suggests the stock may be overvalued, which lowers the valuation score. The absence of technical analysis and earnings call data limits the comprehensiveness of the evaluation.

Marine Electricals (India) Limited Business Overview & Revenue Model

Company Description

Marine Electricals (India) Limited (MARINE) is a leading provider of electrical solutions for the marine, offshore, and industrial sectors. The company specializes in the design, manufacturing, and supply of a wide range of electrical products and services, including electrical panels, switchboards, and automation systems. With a focus on innovation and quality, MARINE serves a diverse clientele, ensuring compliance with international standards in the marine and industrial domains.

How the Company Makes Money

MARINE generates revenue primarily through the sale of its electrical products and systems to clients in the marine and industrial sectors. Key revenue streams include the manufacturing and installation of electrical panels, switchboards, and automation solutions tailored to customer specifications. Additionally, the company may earn revenue through maintenance and support services offered to clients post-installation. Strategic partnerships with shipbuilders, offshore oil and gas companies, and industrial manufacturers enhance its market reach and contribute to sustained earnings. The company's commitment to quality and compliance with regulatory standards further solidifies customer trust and drives repeat business, which is a critical aspect of its revenue model.

Marine Electricals (India) Limited Financial Statement Overview

Summary

Marine Electricals exhibits strong revenue and profit growth, with improved margins. The balance sheet shows financial stability with reduced leverage and better equity utilization. Cash flow performance has improved, although historical fluctuations warrant caution. Overall, the company's financials reflect a solid foundation for future growth, with attention needed on managing liabilities.

Income Statement

Marine Electricals (India) Limited exhibits strong revenue growth, with a 23.35% increase in the latest year. The gross profit margin has improved to 17.83% from 14.87% the previous year, indicating better cost management. The net profit margin also increased to 5.01% from 4.17%, showing enhanced profitability. EBIT and EBITDA margins have shown positive trends, reflecting operational efficiency.

Balance Sheet

The company's balance sheet is robust, with a debt-to-equity ratio decreasing to 0.14, indicating lower financial leverage. The return on equity has improved to 9.52%, showcasing effective equity utilization. The equity ratio stands at a healthy 55.72%, highlighting strong financial stability. However, the relatively high total liabilities could pose potential risks.

Cash Flow

Operating cash flow improved significantly, turning positive to 659.94 million INR, indicating better cash generation. Free cash flow growth rate turned positive, reflecting improved capital expenditure management. The operating cash flow to net income ratio is 1.72, suggesting efficient cash conversion. Despite improvements, past inconsistencies in cash flow stability remain a consideration.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.53B	7.67B	6.22B	4.42B	3.76B	2.51B
Gross Profit	1.31B	1.37B	925.00M	676.25M	524.44M	432.10M
EBITDA	761.38M	820.24M	550.93M	395.03M	325.75M	342.81M
Net Income	377.17M	384.32M	258.99M	169.95M	129.77M	128.97M
Balance Sheet
Total Assets	0.00	7.25B	6.16B	4.66B	3.73B	3.83B
Cash, Cash Equivalents and Short-Term Investments	561.45M	553.06M	69.82M	33.17M	14.41M	136.52M
Total Debt	0.00	551.91M	970.37M	656.95M	366.16M	583.04M
Total Liabilities	-3.89B	3.17B	3.60B	2.51B	1.92B	2.13B
Stockholders Equity	3.89B	4.04B	2.51B	2.08B	1.75B	1.63B
Cash Flow
Free Cash Flow	0.00	442.39M	-315.20M	-250.60M	347.42M	-24.27M
Operating Cash Flow	0.00	659.94M	-73.57M	-20.93M	466.38M	22.79M
Investing Cash Flow	0.00	-952.63M	-209.72M	-277.07M	-182.90M	13.95M
Financing Cash Flow	0.00	516.67M	319.44M	312.75M	-311.69M	-70.37M

Marine Electricals (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CORDSCABLE	67 Neutral	₹2.28B	14.74	―	0.57%	27.33%	41.15%
MARINE	62 Neutral	―	―	―	0.13%	20.64%	38.70%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SICALLOG	46 Neutral	₹6.46B	―	―	―	43.60%	32.19%

Marine Electricals (India) Limited Corporate Events

Marine Electricals Confirms Compliance with SEBI Regulations for Q3 2025

Marine Electricals (India) Limited has submitted a certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, confirming the dematerialization of securities for the quarter ending September 30, 2025. This move ensures compliance with regulatory requirements and reflects the company’s commitment to maintaining transparent and efficient operations in its dealings with depositories and stakeholders.

Marine Electricals Completes Acquisition of Xanatech Synergies

Marine Electricals (India) Limited has announced the completion of its acquisition of a 26% equity stake in Xanatech Synergies Private Limited, making it a wholly-owned subsidiary. This strategic move is expected to enhance Marine Electricals’ operational capabilities and strengthen its market position, potentially offering new opportunities for growth and expansion in the industry.

Marine Electricals Announces Trading Window Closure

Marine Electricals (India) Limited has announced the closure of its trading window in compliance with SEBI’s insider trading regulations. This closure is effective from October 1, 2025, and will last until 48 hours after the company declares its unaudited financial results for the quarter ending September 30, 2025. This move is part of the company’s adherence to regulatory standards and aims to maintain transparency and integrity in its financial disclosures.

Marine Electricals Conducts 18th AGM, Submits Voting Results

Marine Electricals (India) Limited held its 18th Annual General Meeting (AGM) on September 29, 2025, through video conferencing, in compliance with the Ministry of Corporate Affairs guidelines and relevant regulations. The meeting included discussions on various business transactions as outlined in the AGM notice. The company submitted the voting results and the Scrutinizer’s Report, which are required under the SEBI regulations, to the National Stock Exchange of India.