Markolines Pavement Technologies Ltd.

•

markolines.comBSE: 543364NSE: MARKOLINES

Market Cap₹ 380 Cr.

Current Price

High / Low₹ 192 / 132

Stock P/E14.2

Book Value₹ 93

Price to Book1.77

Dividend Yield0.00 %

ROCE18.7 %

ROE16.2 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Major Maintenance & Toll Operation: 70.2% • Specialised Construction: 28.1% • Unallocated: 1.7%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 20.8%
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.24x)
Working capital days have increased from 86 to 171 days
Free cash flow has been persistently negative
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	303.00	120.52	26710.00	692.49	12.88	9.42
12.	MARKOLINES	171.35	14.20	380.46	0.00	4.36	15.07	75.86	4.32	18.67	9.79

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0	50	56	80	122	73	78	93	105	76
	0	46	49	73	101	67	71	83	89	72
Operating Profit	0	5	6	8	20	6	7	10	16	4
OPM %	—	9.53%	10.95%	9.42%	16.67%	8.13%	9.18%	10.86%	15.32%	5.38%
	0	1	1	2	1	1	2	2	3	2
Interest	0	1	2	1	3	1	1	1	2	2
Depreciation	0	2	2	2	2	2	2	2	2	2
Profit before Tax	0	2	3	7	17	5	6	8	15	6
Tax %	—	25.66%	24.76%	15.76%	28.47%	29.29%	32.16%	19.48%	24.95%	21.78%
Net Profit	0	0	0	0	0	4	4	7	11	4
	0.00	0.90	0.98	2.79	5.49	1.72	1.70	3.33	5.15	1.96

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025	TTM
	312	347	307	352
	284	316	268	314
Operating Profit	28	32	39	37
OPM %	8.85%	9.15%	12.69%	10.64%
	0	3	5	8
Interest	3	5	8	7
Depreciation	2	5	7	7
Profit before Tax	22	25	29	35
Tax %	29.64%	32.30%	25.13%	24.29%
Net Profit	16	17	22	26
EPS	8.24	9.06	10.25	—
Dividend Payout %	8.49%	11.04%	14.63%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: 18%
Last Year:: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
Equity Capital	19	19	22
	67	83	148
	31	51	56
Trade Payables	35	57	48
	35	30	41
Total Liabilities	187	240	315
	21	29	32
	8	10	19
	24	23	8
	0	121	184
Cash & Bank	0	16	15
	134	40	58
Total Assets	187	240	315

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025
	20	3	-35
Cash from Investing	-22	-23	-14
Cash from Financing	1	21	50
	-1	0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.32	61.21	58.14	56.91	55.00	55.00	55.00	55.00
	0.21	0.18	0.18	0.18	0.18	0.18	0.18	0.59
	0.67	0.00	0.00	0.00	0.00	0.11	0.11	0.10
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.80	38.60	41.68	42.91	44.82	44.70	44.70	44.30

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07

Copy of Newspaper Publication

2026-09-07 - Markolines Pavement Technologies Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-07

Shareholders meeting

2026-09-07 - Markolines Pavement Technologies Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026

2026-08-27

Appointment

2026-08-27 - Markolines Pavement Technologies Limited has informed the Exchange regarding Re-appointment of Mr. Sanjay Bhanudas Patil as Managing Director of the company w.e.f. August 27, 2026.

2026-08-27

Outcome of Board Meeting

2026-08-27 - Markolines Pavement Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on August 27, 2026.

2026-08-19

Investor Presentation

2026-08-19 - Markolines Pavement Technologies Limited has informed the Exchange about Investor Presentation

2026-08-18

Amalgamation/Merger

2026-08-18 - Markolines Pavement Technologies Limited has informed the Exchange about receipt of observation letter with no adverse objection from BSE Limited and NSE Limited

2026-08-15

Press Release

2026-08-15 - Markolines Pavement Technologies Limited has informed the Exchange regarding a press release dated August 15, 2026, titled "Press Release for unaudited financial results for the quarter ended 30th June 2026".

2026-08-14

Appointment

2026-08-14 - Markolines Pavement Technologies Limited has informed the Exchange regarding Reappointment of Mrs. Anjali Sapkal as Non- Executive Independent Director of the company w.e.f. August 17, 2026.

2026-08-14

Appointment

2026-08-14 - Markolines Pavement Technologies Limited has informed the Exchange regarding Appointment of Mr. Rahul Ramkrishna Modak as Non- Executive Independent Director of the company w.e.f. August 14, 2026.

News

Recent coverage and analyst commentary for MARKOLINES

Loading news…

🤖

AI Stock Analyst

Markolines Pavement Technologies Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

303.00

120.52

26710.00

692.49

12.88

9.42

MARKOLINES

171.35

14.20

380.46

0.00

4.36

15.07

75.86

4.32

18.67

9.79

Mar 2022

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

122

105

101

Operating Profit

OPM %

—

9.53%

10.95%

9.42%

16.67%

8.13%

9.18%

10.86%

15.32%

5.38%

Interest

Depreciation

Profit before Tax

Tax %

—

25.66%

24.76%

15.76%

28.47%

29.29%

32.16%

19.48%

24.95%

21.78%

Net Profit

0.00

0.90

0.98

2.79

5.49

1.72

1.70

3.33

5.15

1.96

Mar 2023

Mar 2024

Mar 2025

TTM

312

347

307

352

284

316

268

314

Operating Profit

OPM %

8.85%

9.15%

12.69%

10.64%

Interest

Depreciation

Profit before Tax

Tax %

29.64%

32.30%

25.13%

24.29%

Net Profit

EPS

8.24

9.06

10.25

—

Dividend Payout %

8.49%

11.04%

14.63%

—

Mar 2023

Mar 2024

Mar 2025

Equity Capital

148

Trade Payables

Total Liabilities

187

240

315

121

184

Cash & Bank

134

Total Assets

187

240

315

Mar 2023

Mar 2024

Mar 2025

-35

Cash from Investing

-22

-23

-14

Cash from Financing

-1

Mar 2023

Mar 2024

Mar 2025

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.32

61.21

58.14

56.91

55.00

0.21

0.18

0.59

0.67

0.00

0.11

0.10

Government

0.00

27.80

38.60

41.68

42.91

44.82

44.70

44.30

Markolines Pavement Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Markolines Pavement Technologies Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI