MARKOLINES PAVEMENT TEC L MARKOLINES NSEINFRA

Industrials · Infrastructure Operations · India

https://www.markolines.com

Markolines Pavement Technologies Limited provides highway operations and maintenance services in India. The company operates through Highway Maintenance Services; and Specialized Construction Services segments. It offers consultancy services; and major maintenance services involving bituminous comprising pavement milling and filling, bituminous overlay/resurfacing, rehabilitation with glass grid, and hot in plant RAP services. The company also provides rigid pavement maintenance services for structural distresses. In addition, it offers preventive maintenance services, such as crack and fog sealing, slurry sealing, rut filling, surface dressing/chip seal, and cape seal services; and specialized maintenance services consisting of micro surfacing and cold-in-place recycling services. Further, it provides specialized construction services comprising base and subbase/soil stabilization, full depth reclamation, and tunneling. The company was formerly known as Markolines Traffic Controls Limited and changed its name to Markolines Pavement Technologies Limited in October 2021. Markolines Pavement Technologies Limited was incorporated in 2002 and is based in Navi Mumbai, India.

Market & Price

Market Cap

₹368.17 Cr

Current Price

₹167.04

High / Low (52W)

₹183.90 / ₹133.68

Beta

-0.24

Valuation

Stock P/E

13.74

Industry PE

27.78

Forward P/E

PEG Ratio

Book Value

₹75.96

Price to Book

2.20

P/S

1.06

EV/EBITDA

9.48

Dividend Yield

Profitability & Returns

ROCE

19.59%

ROE

13.83%

ROA

7.78%

Profit Margin

7.53%

Op Margin

16.22%

EPS (Latest Qtr)

₹3.33

EPS (TTM)

₹12.16

Balance Sheet & Liquidity

Debt/Equity

0.43

Quick Ratio

1.15

Current Ratio

1.68

Debt

₹86.21 Cr

Total Assets

₹315.90 Cr

Current Assets

₹263.39 Cr

Working Capital

₹143.82 Cr

Ownership

Promoter Holding

62.04%

Chg in Prom Hold

FII / Inst Holding

0.00%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹453.35 Cr

Total Revenue (TTM)

₹348.49 Cr

EBITDA

₹47.81 Cr

Free Cash Flow

₹36.28 Cr

Operating Cash Flow

₹6.24 Cr

Shares Outstanding

₹2.20 Cr

Gross Margin

72.13%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

27.54%

Profit 5Y

30.69%

Revenue (YoY)

-13.50%

Earnings (YoY)

-4.60%

PROS

Compounding revenue at 27.5% over 5 years.
Profit CAGR of 30.7% over 5 years.
Generates positive free cash flow.

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	MARKOLINES MARKOLINES PAVEMENT TEC L NSEINFRA	167.04	13.74	₹368.17 Cr	-	19.59%	13.83%	27.54%	30.69%
2	LT Larsen & Toubro Limited NIFTY50NSEAIINFRA	4,076.50	34.84	₹5.61 L Cr	0.93%	14.55%	16.95%	16.09%	15.38%
3	ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA	1,804.60	30.96	₹4.16 L Cr	0.42%	11.02%	15.59%	22.93%	34.11%
4	HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU	4,303.80	31.55	₹2.88 L Cr	1.16%	13.80%	23.98%	7.87%	16.08%
5	POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA	38,445.00	172.41	₹1.71 L Cr	0.02%	24.92%	21.04%	22.24%	119.12%
6	INDIGO InterGlobe Aviation Limited NSEINFRA	4,405.00	-	₹1.70 L Cr	0.24%	15.53%	-	44.12%	72.60%
7	CUMMINSIND Cummins India Limited NSEINFRA	5,881.00	68.97	₹1.63 L Cr	1.12%	34.95%	29.45%	16.07%	24.35%
8	CGPOWER CG Power and Industrial Solutions Limited NSEINFRA	917.45	118.99	₹1.44 L Cr	0.14%	19.35%	19.56%	21.67%	7.81%
9	POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA	9,477.50	53.48	₹1.43 L Cr	0.37%	30.44%	24.58%	26.57%	28.11%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	-	80.06 Cr	121.09 Cr	72.72 Cr	77.67 Cr	92.95 Cr
Cost of Revenue	-	34.78 Cr	45.62 Cr	17.05 Cr	1.06 Cr	17.41 Cr
Gross Profit	-	45.28 Cr	75.47 Cr	55.66 Cr	76.61 Cr	75.54 Cr
Operating Expenses	-	39.63 Cr	54.09 Cr	51.41 Cr	71.21 Cr	67.32 Cr
Operating Income	-	5.66 Cr	21.38 Cr	4.25 Cr	5.41 Cr	8.22 Cr
EBITDA	-	9.91 Cr	23.08 Cr	7.39 Cr	8.87 Cr	11.62 Cr
Interest Expense	-	85.94 L	4.78 Cr	54.60 L	1.46 Cr	1.31 Cr
Pretax Income	-	7.17 Cr	16.81 Cr	5.19 Cr	5.69 Cr	8.42 Cr
Tax Provision	-	1.12 Cr	4.90 Cr	1.52 Cr	1.83 Cr	1.64 Cr
Net Income	-	6.29 Cr	12.13 Cr	3.79 Cr	4.08 Cr	7.00 Cr
Diluted EPS	0.98	2.79	-	-	1.70	3.33

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	147.98 Cr	267.81 Cr	333.70 Cr	307.01 Cr
Cost of Revenue	34.70 Cr	31.67 Cr	109.66 Cr	112.45 Cr
Gross Profit	113.28 Cr	236.13 Cr	224.05 Cr	194.56 Cr
Operating Expenses	92.56 Cr	210.41 Cr	197.03 Cr	160.30 Cr
Operating Income	20.73 Cr	25.72 Cr	27.02 Cr	34.25 Cr
EBITDA	21.69 Cr	27.59 Cr	34.58 Cr	45.50 Cr
Interest Expense	4.37 Cr	2.95 Cr	4.49 Cr	9.08 Cr
Pretax Income	14.67 Cr	22.38 Cr	25.09 Cr	29.38 Cr
Tax Provision	4.57 Cr	6.63 Cr	8.10 Cr	7.38 Cr
Net Income	10.11 Cr	15.75 Cr	17.30 Cr	22.56 Cr
Diluted EPS	6.08	-	-	-

Compounded Sales Growth

5 Years:	27.54%
1 Year:	-13.50%

Compounded Profit Growth

5 Years:	30.69%
1 Year:	-4.60%

Stock Price Performance

1 Year:	-9.17%
6 Months:	+7.64%
3 Months:	+3.89%
1 Month:	+9.24%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	135.56 Cr	187.99 Cr	240.35 Cr	315.90 Cr
Current Assets	125.66 Cr	157.35 Cr	199.39 Cr	263.39 Cr
Cash & Equivalents	1.60 Cr	34.36 L	35.02 L	51.51 L
Inventory	14.05 Cr	23.54 Cr	22.78 Cr	7.96 Cr
Receivables	58.41 Cr	76.08 Cr	121.00 Cr	183.94 Cr
Total Liabilities	64.53 Cr	102.17 Cr	138.56 Cr	139.19 Cr
Current Liabilities	49.71 Cr	85.65 Cr	117.64 Cr	119.57 Cr
Long Term Debt	13.63 Cr	14.90 Cr	20.47 Cr	19.14 Cr
Total Debt	26.84 Cr	30.55 Cr	58.75 Cr	63.02 Cr
Total Equity	71.03 Cr	85.82 Cr	101.79 Cr	176.72 Cr
Shares Outstanding	1.91 Cr	1.91 Cr	1.91 Cr	2.20 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	-19.55 Cr	20.12 Cr	2.44 Cr	-35.63 Cr
Investing Cash Flow	-1.52 Cr	-22.24 Cr	-23.07 Cr	-13.78 Cr
Financing Cash Flow	22.35 Cr	85.16 L	20.64 Cr	49.57 Cr
Capital Expenditure	-1.67 Cr	-15.17 Cr	-13.79 Cr	-10.00 Cr
Free Cash Flow	-21.23 Cr	4.95 Cr	-11.35 Cr	-45.63 Cr
Net Change in Cash	1.28 Cr	-1.26 Cr	66,000	16.50 L

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	76.6%	88.2%	67.1%	63.4%
Operating Margin %	14.0%	9.6%	8.1%	11.2%
Net Margin %	6.8%	5.9%	5.2%	7.3%
ROE %	14.2%	18.3%	17.0%	12.8%
ROCE %	24.1%	25.1%	22.0%	17.4%

Shareholding Pattern

Insiders

62.04%

Institutions

0.00%

Public Float

0.00%

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for MARKOLINES

No recent headlines available.

MARKOLINES · Industrials