AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 27 Aug - Board reappointed Sanjay Patil as Managing Director for 5 years; AGM on 29 September 2026.
Source: Bse
Markolines Pavement Technologies Limited (MARKOLINES)
Small CapIT stocks · Small cap · NSE
Markolines Pavement Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result14 Aug, 04:03 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
76BullishMACD + · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 60
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MARKOLINESD candles · FIT view+16.0%Latest close ₹176.81 on 2026-10-19
Bar
-1.0%
RSI
59
MACD hist
1.19
52W pos
75%
2026-10-19O ₹178.54H ₹182.25L ₹173.24C ₹176.81Vol 5.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MARKOLINESNifty ITNifty 500
- MARKOLINES
- +2.4%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- +8.0 pp
Chart stats
19 Oct 2026- From 52W high
- -7.8%
- 52W range position
- 75%
- ATR (14)
- 3.3%
- Volume vs 20D
- 1.92x
- Avg traded value
- ₹5.2 Cr
- 20D price channel
- ₹161.2 - ₹182.3
₹191.8
₹131.7 - ₹191.8
₹5.8
Latest completed session
20-session average
22.3% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · FAIR VALUE54
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average50
Revenue +4.3% · PAT +15.0% YoY
Technical
Bullish76
Price trend and sector-relative-strength timing.
Valuation
Legacy model+54.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence68
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Average · 50/100Rev +4% YoY · PAT +15% YoY · margin expansion · operating leverage
Filed 14 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹75.9 Cr | +4.3% | -27.9% |
| EBITDA | ₹7.7 Cr | +12.6% | -52.3% |
| Operating margin | 10.1% | +75 bps | -518 bps |
| PAT | ₹4.4 Cr | +15.0% | -61.6% |
| PAT margin | 5.8% | +54 bps | -505 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.00
- P/B
- 1.85
- EV/EBITDA
- 9.65
- Market Cap
- 377.00Cr
Profitability
- ROE
- 13.90%
- ROCE
- 15.40%
- ROA
- 7.96%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 19.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- 18.00%
Balance Sheet
- Debt/Equity
- 0.43
- Interest Coverage
- 5.86×
- Altman Z
- 4.05
- Book Value
- 91.20
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 6.00 Cr
- EPS TTM
- 12.11
Shareholding
- Promoter Hold
- 54.60%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 62%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 75.9-27.9% vs prev
Net Profit
₹ CrLatest: 4.4-61.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
NeutralTrend is undirectional — long-term uptrend intact. RSI 59.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 59 — sideways, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 8% off 52W high · 34% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
72
RS percentile
Stage 2 UptrendRecent S2
1M return
+4.2%
3M return
+2.4%
6M return
+17.6%
1Y return
+5.3%
RS 1D
+1
RS 20D
+9
Sector rank
#8
Industry rank
#39
Stage evidence
- Price is 6.3% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +1.2%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
09 Oct 2026
S2 age
7 trading sessions
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
251 observations
19 Oct 2026Value 101.13+0.14%
RS vs Nifty 500101
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation17/30
Growth18/25
Quality8/20
Balance Sheet8/15
Cash Flow1/10
Piotroski
8/9 (+5)
Penalties
-3
Raw sum
54
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
54/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 54.5%.
- Growth contributes 18/25 to the score.
Main drags
- Penalty bucket subtracts 3 points.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Quality is weaker at 8/20; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
14.0
PB
1.9
EV/EBITDA
9.7
ROE
13.9%
ROCE
15.4%
FCF Yield
—
Debt/Equity
0.4
MoS
+54.5%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
54
Previous: 54
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+54.5%
Previous: +54.5%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
54
54
54
54
54
53
53
53
53
53
54
54
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹157.64
-12.2% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹388.73
+54.5% MoS
PEG
0.75
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
XTGLOBAL
Small
Xtglobal Infotech Limited
IT Services / Digital
match 166
26
32.1
7.6%
-29%
OVERVALUED
INSPIRISYS
Small
Inspirisys Solutions Limited
IT Services / Digital
match 166
67
8.1
53.6%
+74%
UNDERVALUED
3IINFOLTD
Small
3i Infotech Limited
IT Services / Digital
match 165
46
12.4
11.0%
+58%
FAIR VALUE
QUINT
Small
Quint Digital Limited
IT Services / Digital
match 165
35
—
-2.5%
+56%
WATCHLIST
TERASOFT
Small
Tera Software Limited
IT Services / Digital
match 164
68
11.5
18.5%
+66%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Markolines Pavement Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
68Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 50th percentile within IT. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
37 docs text-extracted · 16 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
56th percentile
overall median 67 · IT: 50th pctile, median 69 · Small: 60th pctile, median 66
Evidence depth
Financial-only
37 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
79
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 55%.
- ▸Promoter pledge is zero.
- ▸3/4 latest quarters had positive YoY revenue growth.
- ▸3/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Only 0 years of positive FCF.
- ▸ROCE trend is -2.9%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Markolines Pavement Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Pursuant to Regulation 30 read with Schedule III of the SEBI (LODR) Regulations 2015, we hereby submit copies of the newspaper publications published ....
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Scheme of Arrangement 18 Aug - BSE and NSE gave no-objection to Markolines Infra's amalgamation into Markolines Pavement Technologies on August 17, 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Resignation of Director 20 Jul - Mr. Akash Manohar Phatak resigns as Independent Director effective 1 August 2026 due to other commitments.
Source: Bse
Investor presentationJun 2026
Jun 2026 · PPT
Source: Bse
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Bse
AnnouncementJun 2026
Jun 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 15 Aug - Markolines reported Q1FY27 revenue Rs.75.86 crore, EBITDA Rs.9.18 crore, PAT Rs.4.36 crore, plus order book update.
Source: Bse
Investor presentationJun 2026
Jun 2026 · PPT
Source: Bse
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 26 May - Markolines reported FY26 PAT of Rs 26.23 crore, order book above Rs 600 crore, and warrant conversion.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 15 Apr - Accepted two Andhra Pradesh sports infrastructure orders totaling Rs29.38 crore; 9-month execution period.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.