Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - The Newspaper advertisement in respect of 49th AGM of the Company.
Source: Bse
Marsons Limited (MARSONS)
Small CapIndustrials stocks · Small cap · NSE
Marsons Limited operates in Transformers, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result13 Aug, 03:53 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
46NeutralSMA20 -1.6% / mo · MACD −
Stock trend: 43
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MARSONSD candles · FIT view-25.1%Latest close ₹123.81 on 2026-10-19
Daily history is available from 2026-03-13; the requested 1Y window is partially covered.
Bar
+0.8%
RSI
49
MACD hist
-0.08
52W pos
31%
2026-10-19O ₹122.80H ₹126.28L ₹121.70C ₹123.81Vol 19.1L 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
MARSONSNifty India ManufacturingNifty 500
- MARSONS
- +9.5%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +15.1 pp
Chart stats
19 Oct 2026- From 52W high
- -29.4%
- 52W range position
- 31%
- ATR (14)
- 6.0%
- Volume vs 20D
- 0.45x
- Avg traded value
- ₹51.4 Cr
- 20D price channel
- ₹113.4 - ₹139
₹175.4
₹100.3 - ₹175.4
₹7.4
Latest completed session
20-session average
52.4% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED62
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +4.7% · PAT -26.1% YoY
Technical
Neutral46
Price trend and sector-relative-strength timing.
Valuation
Legacy model-23.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence84
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
Bad · 0/100PAT -26% YoY · margin compression · Rev +5% YoY
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹49.3 Cr | +4.7% | -46.8% |
| EBITDA | ₹7.2 Cr | -1.1% | -62.1% |
| Operating margin | 14.7% | -86 bps | -589 bps |
| PAT | ₹5.9 Cr | -26.1% | -73.8% |
| PAT margin | 12.0% | -503 bps | -1237 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 44.50
- P/B
- 9.05
- EV/EBITDA
- 45.77
- Market Cap
- 1967.00Cr
Profitability
- ROE
- 26.20%
- ROCE
- 24.40%
- ROA
- 15.12%
- Dividend Y
- 0.04%
Growth (CAGR)
- Revenue 5Y
- 59.00%
- EPS 5Y
- 59.00%
- Revenue 3Y
- 118.00%
- EPS 3Y
- 147.50%
Balance Sheet
- Debt/Equity
- 0.00
- Interest Coverage
- 21.00×
- Altman Z
- 8.56
- Book Value
- 12.60
Cash Flow
- FCF Yield
- 0.71%
- FCF Positive Y
- 5/5
- OCF
- 2.00 Cr
- EPS TTM
- 2.56
Shareholding
- Promoter Hold
- 53.65%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 16%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 49.3-46.8% vs prev
Net Profit
₹ CrLatest: 5.9-73.8% 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
Bearish setupTrend is weak — long-term trend unclear. RSI 49.
- SMA20 falling (~1.6% over last month) — short-term momentum negative.
- RSI(14) at 49 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 29% off 52W high · 24% 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
45
RS percentile
Insufficient history
1M return
-3.7%
3M return
+9.5%
6M return
-25.1%
1Y return
-
RS 1D
+1
RS 20D
-5
Sector rank
#2
Industry rank
#8
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price above
200-DMA
unavailable
Sector
leading
Industry
leading
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
149 observations
19 Oct 2026Value 86.73+1.93%
RS vs Nifty 50087
Valuation & peers
U-Score 62 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 62 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · UNDERVALUEDValuation0/30
Growth23/25
Quality19/20
Balance Sheet10/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
62
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
62/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Quality contributes 19/20 to the score.
- Growth contributes 23/25 to the score.
Main drags
- Fair-value margin of safety is negative at -23.1%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
44.5
PB
9.1
EV/EBITDA
45.8
ROE
26.2%
ROCE
24.4%
FCF Yield
0.7%
Debt/Equity
0.0
MoS
-23.1%
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: 20 Oct 2026
v4.3-runtime-valuation
Final score
62
Previous: 62
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
-23.1%
Previous: -23.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
62
62
62
62
62
62
62
62
62
62
62
62
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
₹26.94
-359.6% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹100.61
-23.1% MoS
PEG
0.47
Comparable companies
Peers
Business-comparable peers in Industrials — 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
INDOTECH
Small
Indo Tech Transformers Limited
Electrical Equipment
match 82
62
35.8
28.4%
+19%
UNDERVALUED
TARAPUR
Small
Tarapur Transformers Limited
Electrical Equipment
match 76
17
—
—
—
OVERVALUED
ATLANTAELE
Micro
Atlanta Electricals Limited
Electrical Equipment
match 66
57
65.3
31.7%
-52%
FAIR VALUE
TARIL
Large
Transformers And Rectifiers (India) Limited
Electrical Equipment
match 65
55
32.4
19.1%
+18%
FAIR VALUE
VOLTAMP
Micro
Voltamp Transformers Limited
Electrical Equipment
match 65
53
33.9
17.4%
+15%
FAIR VALUE
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
Marsons Limited operates in Transformers, within the Industrials 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
84Limited 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 97th percentile of the scored universe and 97th percentile within Industrials. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
12 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
97th percentile
overall median 67 · Industrials: 97th pctile, median 68 · Small: 98th pctile, median 66
Evidence depth
Financial-only
12 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
Can support position sizing if valuation and trend also agree.
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
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
98
strong · capital discipline
Results
72
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.6%.
- ▸5 years of positive FCF.
- ▸Debt/equity is 0.00.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Marsons Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 3 Jul - Marsons won ₹17.94 crore domestic order from S.T. Electricals for 10 MVA transformers, to execute in 6 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 16 Jun - Received ₹7.75 crore purchase order from US solar developer for 25 MVA transformer, to execute in 14 months.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.