Maral Overseas

  • Market Cap: Micro Cap
  • Industry: Garments & Apparels
  • ISIN: INE882A01013
  • NSEID: MARALOVER
  • BSEID: 521018
INR
57.46
9.57 (19.98%)
BSENSE

May 08

BSE+NSE Vol: 3.59 lacs

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

3.59 lacs (300.74%) Volume

Shareholding (Mar 2026)

FII

0.06%

Held by 1 FIIs

DII

0.02%

Held by 0 DIIs

Promoter

74.95%

Has Maral Overseas declared dividend?

06-Jun-2025

Yes, Maral Overseas Ltd has declared a dividend of 20% (₹2 per share) with an ex-date of August 17, 2022. Despite this, the dividend yield is 0%, and total returns vary across periods, showing significant gains over the long term, especially a 498.9% total return over five years.

Maral Overseas Ltd has declared a dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 20%<BR>- Amount per share: 2<BR>- Ex-date: 17 Aug 22<BR><BR>Dividend Yield: 0%<BR><BR>Total Returns by Period:<BR>In the 6-month period, the price return was -5.18%, with a dividend return of 0%, resulting in a total return of -5.18%.<BR><BR>In the 1-year period, the price return was 7.65%, with a dividend return of 0%, leading to a total return of 7.65%.<BR><BR>Over the 2-year period, the price return was 33.36%, with a dividend return of 0%, resulting in a total return of 33.36%.<BR><BR>In the 3-year period, the price return was -4.13%, with a dividend return of 3.32%, culminating in a total return of -0.81%.<BR><BR>For the 4-year period, the price return was 79.85%, with a dividend return of 4.21%, resulting in a total return of 84.06%.<BR><BR>In the 5-year period, the price return was 484.2%, with a dividend return of 14.70%, leading to a total return of 498.9%.<BR><BR>Overall, Maral Overseas has declared a dividend, but the dividend yield remains at 0%. The total returns over various periods show a mix of performance, with significant gains over the longer term, particularly in the 5-year period.

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Who are the peers of the Maral Overseas?

03-Jun-2025

Maral Overseas' peers include Trent, Page Industries, K P R Mill Ltd, Vedant Fashions, Trident, Aarvee Denims, Manomay Tex Indi, Shiva Texyarn, and Zodiac Cloth. Co. In terms of returns, Aarvee Denims leads with 462.71% over one year, while Maral Overseas has a return of 7.52%.

Peers: The peers of Maral Overseas are Trent, Page Industries, K P R Mill Ltd, Vedant Fashions, Trident, Aarvee Denims, Manomay Tex Indi, Shiva Texyarn, and Zodiac Cloth. Co.<BR><BR>Quality Snapshot: Excellent management risk is observed at Page Industries, K P R Mill Ltd, and Vedant Fashions, while Good management risk is found at Trent. Average management risk is seen at Manomay Tex Indi, and the rest have Below Average management risk, including Aarvee Denims, Maral Overseas, Shiva Texyarn, and Zodiac Cloth. Co. Growth is Excellent for Trent, Good for K P R Mill Ltd, and Average for Manomay Tex Indi, while Below Average growth is noted for Page Industries, Vedant Fashions, Trident, Aarvee Denims, Maral Overseas, Shiva Texyarn, and Zodiac Cloth. Co. Capital Structure is Excellent for Page Industries and K P R Mill Ltd, Good for Trident, and Below Average for the rest.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Aarvee Denims at 462.71%, while Vedant Fashions has the lowest at -24.65%. Maral Overseas has a 1-year return of 7.52%, which is higher than Vedant Fashions but significantly lower than Aarvee Denims. Additionally, Vedant Fashions, Trident, and Zodiac Cloth. Co have negative six-month returns.

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Is Maral Overseas overvalued or undervalued?

09-Jun-2025

As of February 5, 2025, Maral Overseas is considered a risky investment due to its overvalued status, reflected in a negative PE ratio of -12.33, a high EV to EBITDA of 32.75, and a negative ROE of -22.22%, despite a recent stock return of 13.64% that outperformed the Sensex.

As of 5 February 2025, the valuation grade for Maral Overseas has moved from expensive to risky. The company is currently considered overvalued. Key ratios include a PE Ratio of -12.33, an EV to EBITDA of 32.75, and a ROE of -22.22%. <BR><BR>In comparison to peers, K P R Mill Ltd is categorized as very expensive with a PE of 47.51, while Trident is rated fair with a PE of 42.6. Maral's negative PE and ROE, alongside a high EV to EBITDA ratio, suggest significant concerns regarding profitability and valuation relative to its peers. Despite a recent 1-month stock return of 13.64%, which outperformed the Sensex's 3.89%, the overall financial metrics indicate that Maral Overseas remains a risky investment.

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What is the technical trend for Maral Overseas?

09-Jun-2025

As of June 2, 2025, Maral Overseas shows a mildly bearish trend, with daily moving averages indicating bearishness, mixed signals from MACD and KST, and uncertainty in momentum from RSI and Bollinger Bands.

As of 2 June 2025, the technical trend for Maral Overseas has changed from sideways to mildly bearish. The current stance is mildly bearish, primarily driven by the daily moving averages indicating a bearish trend. The weekly MACD shows a mildly bullish signal, but the monthly MACD is mildly bearish, suggesting mixed signals across time frames. The weekly KST is mildly bullish, while the OBV is mildly bearish, further contributing to the overall bearish sentiment. The lack of clear signals from the RSI and Bollinger Bands indicates uncertainty in momentum. Overall, the strength of the bearish trend is mild, with key indicators reflecting a divergence in short-term and long-term outlooks.

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Who are in the management team of Maral Overseas?

16-Jul-2025

As of March 2023, the management team of Maral Overseas includes Shekar Agarwal (CMD & Executive Director), Ravi Jhunjhunwala (Non Executive Director), Shantanu Agarwal (ED/Joint MD/Promoter), and three Independent Non Executive Directors: Kamal Gupta, P S Dasgupta, and Archana Capoor. Each member contributes to the company's governance and strategic direction.

As of March 2023, the management team of Maral Overseas includes the following individuals:<BR><BR>1. Shekar Agarwal - CMD & Executive Director<BR>2. Ravi Jhunjhunwala - Non Executive Director<BR>3. Shantanu Agarwal - ED / Joint MD / Promoter<BR>4. Kamal Gupta - Independent Non Executive Director<BR>5. P S Dasgupta - Independent Non Executive Director<BR>6. Archana Capoor - Independent Non Executive Director<BR><BR>Each member plays a significant role in the governance and strategic direction of the company.

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What does Maral Overseas do?

17-Jul-2025

Maral Overseas Ltd is a major vertically integrated textile company in India, part of the LNJ Bhilwara Group, with recent net sales of ₹2,747 Cr and a net profit of -₹2 Cr as of March 2025. The company operates in the Garments & Apparels industry and has a market cap of ₹309 Cr.

Overview: <BR>Maral Overseas Ltd is one of India's largest vertically integrated textile companies operating in the Garments & Apparels industry within the Micro Cap market-cap bracket.<BR><BR>History: <BR>Maral Overseas Ltd was incorporated in 1989 and has been a part of the LNJ Bhilwara Group. The company has reported its latest quarterly results for March 2025, showing net sales and profit figures.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: 2,747 Cr (Quarterly Results - Mar 2025) <BR>Most recent Net Profit: -2 Cr (Quarterly Results - Mar 2025) <BR>Market-cap value: INR 309 Cr (Micro Cap)<BR><BR>Key Metrics: <BR>P/E: N/A <BR>Industry P/E: 23 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 4.07 <BR>Return on Equity: -22.22% <BR>Price to Book: 2.84<BR><BR>Contact Details: <BR>Address: Maral Sarovar V&PO Khalbujurg, Kasrawad Tehsil Khargone Madhya Pradesh : 451660 <BR>Tel: 91-7285-265401/265405 <BR>Email: maral.investor@lnjbhilwara.com <BR>Website: http://www.maraloverseas.com

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Who are the top shareholders of the Maral Overseas?

17-Jul-2025

The top shareholder of Maral Overseas is Agarwal Trademart Private Limited, holding 47.61% of shares, while individual investor Ajay Upadhyaya owns 1.89%. Promoters have a pledged holding of 48.03%, and individual investors collectively hold 18.31%.

The top shareholders of Maral Overseas primarily consist of promoters, with Agarwal Trademart Private Limited holding the largest share at 47.61%. The pledged promoter holdings stand at 48.0336%. In terms of public shareholders, Ajay Upadhyaya is the highest individual shareholder, owning 1.89%. Additionally, individual investors collectively hold 18.31% of the shares. There are also 5 mutual funds and 8 foreign institutional investors (FIIs) involved, but their holdings are relatively minimal at 0.0% and 0.08%, respectively.

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How big is Maral Overseas?

24-Jul-2025

As of 24th July, Maral Overseas Ltd has a market capitalization of 307.00 Cr and reported Net Sales of 1047.03 Cr with a Net Profit loss of 24.20 Cr over the latest four quarters. Shareholder's Funds are 131.54 Cr, and Total Assets are valued at 757.71 Cr as of March 2024.

As of 24th July, Maral Overseas Ltd has a market capitalization of 307.00 Cr, categorizing it as a Micro Cap company.<BR><BR>In the latest four quarters, Maral Overseas reported Net Sales of 1047.03 Cr. However, the company experienced a loss of 24.20 Cr in Net Profit during the same period.<BR><BR>The latest annual reporting period for the balance sheet is March 2024. Shareholder's Funds stood at 131.54 Cr, while Total Assets were valued at 757.71 Cr.

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How has been the historical performance of Maral Overseas?

04-Nov-2025

Maral Overseas has shown fluctuating historical performance, with net sales increasing to 1,047.03 Cr in March 2025 but facing significant losses, including a profit after tax loss of 24.20 Cr. Despite improved cash flow from operations, overall profitability remains a challenge.

Answer:<BR>The historical performance of Maral Overseas shows a fluctuating trend in net sales and profitability over the years, with significant variations in operating and net profits.<BR><BR>Breakdown:<BR>Maral Overseas reported net sales of 1,047.03 Cr in March 2025, an increase from 960.06 Cr in March 2024, but a decrease from 1,025.85 Cr in March 2023. The total operating income followed a similar pattern, reaching 1,047.03 Cr in March 2025. The company's total expenditure, excluding depreciation, rose to 1,024.38 Cr in March 2025 from 923.23 Cr in March 2024, leading to an operating profit of 22.65 Cr, down from 36.83 Cr the previous year. Profit before tax showed a decline, resulting in a loss of 25.63 Cr in March 2025, compared to a loss of 8.47 Cr in March 2024. Consequently, the profit after tax also reflected a loss of 24.20 Cr in March 2025, worsening from a loss of 9.77 Cr in March 2024. The company's total liabilities decreased slightly to 732.13 Cr in March 2025 from 757.71 Cr in March 2024, while total assets also fell to 732.13 Cr from 757.71 Cr. Cash flow from operating activities improved to 75.00 Cr in March 2025 from 61.00 Cr in March 2024, but cash flow from financing activities turned negative at -47.00 Cr in March 2025. Overall, Maral Overseas has experienced challenges in profitability despite some growth in sales and operating activities.

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When is the next results date for Maral Overseas Ltd?

30-Jan-2026

The next results date for Maral Overseas Ltd is 05 February 2026.

The next results date for Maral Overseas Ltd is scheduled for 05 February 2026.

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Should I buy, sell or hold Maral Overseas Ltd?

05-May-2026

Are Maral Overseas Ltd latest results good or bad?

08-May-2026

Maral Overseas Ltd's latest results show a significant net profit increase of 151.04% quarter-on-quarter, but concerns arise from 87.52% of profit coming from other income and a 6.00% year-on-year revenue decline, indicating underlying operational challenges and financial fragility. Investors should be cautious due to the company's high debt-to-equity ratio and reliance on non-operating income.

Maral Overseas Ltd's latest results present a mixed picture. On one hand, the company reported a significant sequential improvement in net profit, which surged by 151.04% quarter-on-quarter to ₹13.31 crores in Q4 FY26. This marks the highest quarterly profit in recent history and indicates some recovery in performance.<BR><BR>However, this positive headline is tempered by deeper concerns regarding the sustainability of these earnings. A staggering 87.52% of the profit before tax was derived from other income, raising serious questions about the quality and reliability of the reported earnings. The company's revenue also showed a year-on-year decline of 6.00%, highlighting ongoing demand challenges in the garments and apparel sector.<BR><BR>Additionally, the operating margin, while improved from previous periods, has decreased slightly to 7.09%, suggesting limited pricing power and ongoing cost management issues. The high debt-to-equity ratio of 3.44x further complicates the financial outlook, indicating significant leverage that could pose risks in the future.<BR><BR>Overall, while there are signs of recovery in the latest quarter, the underlying operational challenges and dependence on non-operating income suggest that the results may not be as strong as they initially appear. Investors should approach with caution, considering the potential for volatility and the company's financial fragility.

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Why is Maral Overseas Ltd falling/rising?

09-May-2026

As of 08-May, Maral Overseas Ltd's stock price is rising to Rs 57.02, marking a 19.99% increase. This rise is driven by strong investor interest, significant outperformance compared to the sector, and robust trading activity, indicating positive market sentiment.

As of 08-May, Maral Overseas Ltd's stock price is rising, currently at Rs 57.02, reflecting a change of 9.5 or 19.99% increase. This upward movement can be attributed to several key factors. <BR><BR>Firstly, the stock has significantly outperformed the sector today, with a performance that exceeded the sector by 20.29%. Additionally, it has been on a positive trend, gaining for the last two days and achieving a remarkable 25.35% return during this period. The stock opened with a gain of 5.24% today, indicating strong initial investor interest.<BR><BR>Moreover, the stock has reached an intraday high of Rs 57.02, which is a notable achievement. It has also shown robust trading activity, with a wide trading range of Rs 7.01 and a substantial increase in delivery volume, which rose by 213.28% compared to the 5-day average. This suggests rising investor participation and confidence in the stock.<BR><BR>Furthermore, Maral Overseas is trading above its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a strong bullish trend. Overall, these factors contribute to the stock's rising price, reflecting positive market sentiment and investor engagement.

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iScoreScore
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Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

High Debt company with Weak Long Term Fundamental Strength

  • Poor long term growth as Net Sales has grown by an annual rate of 11.64% over the last 5 years
  • High Debt Company with a Debt to Equity ratio (avg) of 2.76 times
  • The company has been able to generate a Return on Capital Employed (avg) of 7.39% signifying low profitability per unit of total capital (equity and debt)
2

48.03% of Promoter Shares are Pledged

3

Underperformed the market in the last 1 year

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Garments & Apparels

stock-summary
Market cap

INR 221 Cr (Micro Cap)

stock-summary
P/E

62.00

stock-summary
Industry P/E

23

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

3.44

stock-summary
Return on Equity

-8.66%

stock-summary
Price to Book

1.76

Revenue and Profits:
Net Sales:
258 Cr
(Quarterly Results - Mar 2026)
Net Profit:
13 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
29.59%
0%
29.59%
6 Months
8.17%
0%
8.17%
1 Year
-15.08%
0%
-15.08%
2 Years
-22.82%
0%
-22.82%
3 Years
5.05%
0%
5.05%
4 Years
-37.1%
2.58%
-34.52%
5 Years
49.05%
4.90%
53.95%

Latest dividend: 2 per share ex-dividend date: Aug-17-2022

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Announcements stock-summary

Maral Overseas Limited - Other General Purpose

28-Nov-2019 | Source : NSE

Maral Overseas Limited has informed the Exchange regarding disclosure of Related Party Transactions on a consolidated basis for the half year ended September 30, 2019, in the format specified in the Accounting Standards in compliance with Regulation 23(9) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Maral Overseas Limited - Updates

08-Nov-2019 | Source : NSE

Maral Overseas Limited has informed the Exchange regarding 'Submission of copy of public notice of advertisement of Un-audited Financial Result for the quarter and half year ended 30th September, 2019 under Regulation 30 and 47 of SEBI (Listing Regulation and Disclosure Requirement) Regulation, 2015.'.

Maral Overseas Limited - Updates

22-Oct-2019 | Source : NSE

Maral Overseas Limited has informed the Exchange regarding 'Submission of paper cutting of the Board Meeting Notice published in the Newspaper'.

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Maral Overseas Ltd has declared 20% dividend, ex-date: 17 Aug 22

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
9.19%
EBIT Growth (5y)
-11.88%
EBIT to Interest (avg)
0.81
Debt to EBITDA (avg)
11.54
Net Debt to Equity (avg)
3.30
Sales to Capital Employed (avg)
2.11
Tax Ratio
Tax Ratio is Negative%
Dividend Payout Ratio
0
Pledged Shares
48.03%
Institutional Holding
0.08%
ROCE (avg)
5.54%
ROE (avg)
8.78%

Valuation key factors

Factor
Value
P/E Ratio
62
Industry P/E
23
Price to Book Value
2.14
EV to EBIT
38.31
EV to EBITDA
12.45
EV to Capital Employed
1.26
EV to Sales
0.61
PEG Ratio
0.54
Dividend Yield
NA
ROCE (Latest)
3.30%
ROE (Latest)
3.45%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Bearish
RSI
Bearish
No Signal
Bollinger Bands
Bullish
Mildly Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Bearish
Dow Theory
Mildly Bullish
Mildly Bullish
OBV
Mildly Bullish
Mildly Bearish
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

48.0336

Mutual Funds

Held by 5 Schemes (0.0%)

FIIs

Held by 1 FIIs (0.06%)

Promoter with highest holding

Agarwal Trademart Private Limited (47.61%)

Highest Public shareholder

Ajay Upadhyaya (1.74%)

Individual Investors Holdings

18.52%

stock-summaryFinancial
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        },
        {
          "field": "Interest",
          "val1": "37.50",
          "val2": "36.68",
          "chgp": "2.24%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "-0.60",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Standalone Net Profit",
          "val1": "3.26",
          "val2": "-24.20",
          "chgp": "113.47%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "4.94%",
          "val2": "2.16%",
          "chgp": "2.78%",
          "chgp_class": "positive"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Standalone) - Mar'26 - QoQstock-summary

Mar'26
Dec'25
Change(%)
Net Sales
258.22
247.45
4.35%
Operating Profit (PBDIT) excl Other Income
18.30
19.39
-5.62%
Interest
8.94
9.41
-4.99%
Exceptional Items
0.00
-0.60
100.00%
Standalone Net Profit
13.31
5.30
151.13%
Operating Profit Margin (Excl OI)
7.09%
7.84%
-0.75%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2026 is 4.35% vs -0.90% in Dec 2025

Direction Arrows
Standalone Net Profit

QoQ Growth in quarter ended Mar 2026 is 151.13% vs 290.65% in Dec 2025

Half Yearly Results Snapshot (Standalone) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
475.20
521.96
-8.96%
Operating Profit (PBDIT) excl Other Income
10.72
10.93
-1.92%
Interest
19.14
18.99
0.79%
Exceptional Items
0.00
0.00
Standalone Net Profit
-15.35
-13.40
-14.55%
Operating Profit Margin (Excl OI)
2.26%
2.09%
0.17%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is -8.96% vs 10.43% in Sep 2024

Direction Arrows
Standalone Net Profit

Growth in half year ended Sep 2025 is -14.55% vs 19.81% in Sep 2024

Nine Monthly Results Snapshot (Standalone) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
722.65
772.33
-6.43%
Operating Profit (PBDIT) excl Other Income
30.11
12.24
146.00%
Interest
28.55
27.83
2.59%
Exceptional Items
-0.60
0.00
Standalone Net Profit
-10.05
-23.96
58.06%
Operating Profit Margin (Excl OI)
4.17%
1.58%
2.59%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is -6.43% vs 10.29% in Dec 2024

Direction Arrows
Standalone Net Profit

YoY Growth in nine months ended Dec 2025 is 58.06% vs -53.10% in Dec 2024

Annual Results Snapshot (Standalone) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
980.87
1,047.03
-6.32%
Operating Profit (PBDIT) excl Other Income
48.41
22.65
113.73%
Interest
37.50
36.68
2.24%
Exceptional Items
-0.60
0.00
Standalone Net Profit
3.26
-24.20
113.47%
Operating Profit Margin (Excl OI)
4.94%
2.16%
2.78%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is -6.32% vs 9.06% in Mar 2025

Direction Arrows
Standalone Net Profit

YoY Growth in year ended Mar 2026 is 113.47% vs -147.70% in Mar 2025

stock-summaryCompany CV
About Maral Overseas Ltd stock-summary
stock-summary
Maral Overseas Ltd
Micro Cap
Garments & Apparels
Maral Overseas (MOL), a part of LNJ Bhilwara Group, was incorporated in 1989. MOL is one of India's largest vertically integrated textile companies. Set up in 1991 at Maral Sarovar, the Company has five ultra-modern units that manufacture 1,700 tonnes of grey yarn, 250 tonnes of dyed yarn, 700 tonnes of knitted fabric and 8,50,000 pieces of garments every month.
Company Coordinates stock-summary
Company Details
Maral Sarovar V&PO Khalbujurg, Kasrawad Tehsil Khargone Madhya Pradesh : 451660
stock-summary
Tel: 91-7285-265401/265405
stock-summary
maral.investor@lnjbhilwara.com
Registrar Details
MCS Ltd , F-65, , Okhla Industrial Area, Phase - I, New Delhi