517467
Marsons share price & financials
- Price
- ₹117.65
- Market cap
- ₹2.2k Cr
- Sector
- Capital Goods
What Marsons does
Marsons Limited designs, manufactures, supplies, erects, tests and commissions power and distribution transformers ranging from 10 KVA to 160 MVA 220 kV class, alongside furnace, dry-type, cast-resin, solar and instrument transformers, at its single integrated plant in Maheshtala, Kolkata. It runs the only Eastern India (including the North-East) facility equipped to build EHV power transformers up to 220 kV class, and has supplied more than 300,000 transformers globally over six decades. Orders come through EPC contracts, state electricity board/utility tenders, and direct corporate/end-user contracts; the company has recently entered the railway traction-transformer market via a first order from Benaras Locomotive Works and set up a UK subsidiary to pursue exports.
Segments
- Electrical transformers
- Manufacturing plant
- Single integrated plant at Maheshtala, Kolkata spread over ~35,000 sq. m — the only Eastern India (incl. NER) facility equipped to manufacture EHV Power Transformers up to 220 kV class
- Installed capacity
- 4,500 MVA (FY25)
- Product voltage/rating range
- 10 KVA to 160 MVA, 220 kV class
- Transformers supplied (lifetime)
- 300,000+ units supplied globally over six decades
- In-house testing infrastructure
- NABL-accredited Impulse Test Laboratory & Autoclave (set up 1995-96) with a 1600 kV 80 kJ Impulse Generator imported from Haefely Trench, Switzerland
- Quality certifications
- ISO 9001:2008 and ISO 14001:2015 certified
Quarterly results
Q1 FY27: revenue up 4.7%, net profit down 26.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39 | 44 | 56 | 47 | 60 +55% | 46 +4% | 92 +65% | 49 +5% |
| EBITDA | 6 | 4 | 10 | 7 | 9 +48% | 7 +65% | 19 +88% | 7 −1% |
| Net profit | 7 | 6 | 9 | 8 | 9 +23% | 6 +3% | 23 +151% | 6 −26% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −34.4% 1Y
1Y: ₹193.95 on 10 Sept 2025 → ₹127.2. High ₹193.95 (10 Sept 2025), low ₹102.05 (11 Aug 2026).
Financials, as filed
Revenue grew 265.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to 17.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹5 Cr | ₹6 Cr | ₹168 Cr | ₹245 Cr |
| Operating profit | ₹2 Cr | ₹1 Cr | ₹25 Cr | ₹42 Cr |
| Operating margin | 34.0% | 18.0% | 14.9% | 17.0% |
| Interest | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹1 Cr |
| Net profit | ₹3 Cr | ₹1 Cr | ₹28 Cr | ₹46 Cr |
| Net margin | 61.8% | 9.6% | 16.6% | 18.9% |
| Cash from operations | ₹0 Cr | ₹-4 Cr | ₹-35 Cr | ₹2 Cr |
| Free cash flow | ₹8 Cr | ₹-4 Cr | ₹-37 Cr | ₹0 Cr |
| ROCE | 1.0% | 3.0% | 34.0% | 25.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹14 Cr | ₹17 Cr | ₹17 Cr |
| Reserves | ₹-11 Cr | ₹-13 Cr | ₹-9 Cr | ₹0 Cr | ₹123 Cr | ₹200 Cr |
| Borrowings | ₹23 Cr | ₹23 Cr | ₹15 Cr | ₹9 Cr | ₹3 Cr | ₹1 Cr |
| Other liabilities | ₹1 Cr | ₹1 Cr | ₹6 Cr | ₹6 Cr | ₹24 Cr | ₹72 Cr |
| Total liabilities | ₹25 Cr | ₹23 Cr | ₹23 Cr | ₹30 Cr | ₹167 Cr | ₹291 Cr |
| Fixed assets | ₹17 Cr | ₹16 Cr | ₹13 Cr | ₹13 Cr | ₹15 Cr | ₹65 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹25 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹26 Cr | ₹0 Cr |
| Other assets | ₹8 Cr | ₹7 Cr | ₹10 Cr | ₹17 Cr | ₹126 Cr | ₹200 Cr |
| Total assets | ₹25 Cr | ₹23 Cr | ₹23 Cr | ₹30 Cr | ₹167 Cr | ₹291 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −0.28 pp while DIIs added +0.17 pp.
- Promoters
- 53.6%
- FIIs
- 0.1%
- DIIs
- 0.2%
- Public
- 46.0%
Since Jun 2025
- Public −0.28 pp
- DIIs +0.17 pp
- FIIs +0.11 pp
How it drifted, 12 quarters
Over this window promoters fell from 66.7% to 53.6% — −13.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 66.7%, Public 33.3%.Dec '23: Promoters 66.7%, Public 33.3%.Mar '24: Promoters 66.2%, Public 33.8%.Jun '24: Promoters 53.6%, Public 46.3%.Sep '24: Promoters 53.6%, DIIs 0.0%, Public 46.3%.Dec '24: Promoters 53.6%, Public 46.4%.Mar '25: Promoters 53.6%, Public 46.3%.Jun '25: Promoters 53.6%, FIIs 0.0%, Public 46.3%.Sep '25: Promoters 53.6%, FIIs 0.0%, Public 46.3%.Dec '25: Promoters 53.6%, FIIs 0.0%, Public 46.3%.Mar '26: Promoters 53.6%, FIIs 0.1%, DIIs 0.1%, Public 46.1%.Jun '26: Promoters 53.6%, FIIs 0.1%, DIIs 0.2%, Public 46.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Marsons above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Yashoda Inn Private Limited | 53.65% | unchanged |
| Anupriya Consultants Pvt Ltd | 6.93% | −1.67 pp |
| Jms Mines & Minerals Private Limited | 4.36% | unchanged |
| Bagrrys Holding Limited | 1.86% | unchanged |
| Hemant Kumar Jain | 1.51% | −0.22 pp |
| L7 Hitech Private Limited | 1.22% | −0.17 pp |
| Vivek Kumar Singhal | 1.16% | unchanged |
| Sanjeev Khaitan | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Marsons
Guides on how to read this kind of business and the numbers that matter.