MARALOVER
Maral Overseas financials
- Market cap
- ₹259 Cr
- Sector
- Textiles
What Maral Overseas Limited does
Maral Overseas is a vertically integrated textile company, part of the LNJ Bhilwara Group, operating across yarn, fabric and garments. Yarn and knitted-fabric production is centred at the Maral Sarovar facility in Khargone, Madhya Pradesh, in India's cotton belt, while garment manufacturing takes place at units in the NCR area near Noida. Its yarn division supplies classic cotton, performance-blend, speciality and dyed/melange/grey yarns; its fabric division produces knitted fabrics (single jerseys, ribs, interlocks, piques, fleece and more) partly for in-house garment use and partly for external sale; and its garment division manufactures activewear, casual wear, athleisure and sleepwear for domestic and international apparel brands.
Segments
- Yarn
- Fabrics
- Garments
- Spindles (including melange unit)
- 98,776
- Yarn manufacturing capacity
- 25,680 tonnes/yr
- Sewing machines
- 2,163
- Garment manufacturing capacity
- 3,99,000 pcs/month
- Knitting machines
- 64
- Fabric manufacturing capacity
- 15,145 tonnes/yr
Quarterly results
Q1 FY27: revenue up 16.7%, net profit up 147.6% 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 | 271 | 250 | 275 | 226 | 250 −8% | 247 −1% | 258 −6% | 263 +17% |
| EBITDA | 7 | 1 | 10 | 2 | 9 +23% | 19 +1380% | 18 +76% | 17 +926% |
| Net profit | -7 | -11 | -0 | -13 | -3 +60% | 5 +150% | 13 +5887% | 6 +148% |
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 +26.8% 1Y
1Y: ₹49.22 on 10 Sept 2025 → ₹62.41. High ₹65.83 (8 Sept 2026), low ₹35.41 (30 Mar 2026).
Financials, as filed
Revenue fell 1.5% a year over 3 years, FY23 to FY26. Operating margin widened to 4.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.0k Cr | ₹960 Cr | ₹1.0k Cr | ₹981 Cr |
| Operating profit | ₹19 Cr | ₹37 Cr | ₹23 Cr | ₹48 Cr |
| Operating margin | 1.9% | 3.8% | 2.2% | 4.9% |
| Interest | ₹23 Cr | ₹34 Cr | ₹37 Cr | ₹37 Cr |
| Depreciation | ₹30 Cr | ₹34 Cr | ₹34 Cr | ₹33 Cr |
| Net profit | ₹-16 Cr | ₹-10 Cr | ₹-24 Cr | ₹3 Cr |
| Net margin | -1.6% | -1.0% | -2.3% | 0.3% |
| Cash from operations | ₹16 Cr | ₹61 Cr | ₹76 Cr | ₹90 Cr |
| Free cash flow | ₹-77 Cr | ₹-64 Cr | ₹44 Cr | ₹77 Cr |
| ROCE | 1.0% | 5.0% | 2.0% | 8.0% |
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 | ₹42 Cr | ₹42 Cr | ₹42 Cr | ₹42 Cr | ₹62 Cr | ₹42 Cr |
| Reserves | ₹56 Cr | ₹124 Cr | ₹99 Cr | ₹90 Cr | ₹51 Cr | ₹69 Cr |
| Borrowings | ₹197 Cr | ₹243 Cr | ₹372 Cr | ₹476 Cr | ₹393 Cr | ₹374 Cr |
| Other liabilities | ₹147 Cr | ₹180 Cr | ₹120 Cr | ₹150 Cr | ₹177 Cr | ₹206 Cr |
| Total liabilities | ₹442 Cr | ₹590 Cr | ₹633 Cr | ₹758 Cr | ₹682 Cr | ₹690 Cr |
| Fixed assets | ₹161 Cr | ₹175 Cr | ₹203 Cr | ₹346 Cr | ₹317 Cr | ₹307 Cr |
| Capital work in progress | ₹2 Cr | ₹3 Cr | ₹41 Cr | ₹9 Cr | ₹5 Cr | ₹0 Cr |
| Investments | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Other assets | ₹279 Cr | ₹411 Cr | ₹388 Cr | ₹402 Cr | ₹360 Cr | ₹382 Cr |
| Total assets | ₹442 Cr | ₹590 Cr | ₹633 Cr | ₹758 Cr | ₹682 Cr | ₹690 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
The ownership split has held steady since Jun 2025. The shareholder count shrank 2% to 16,502.
- Promoters
- 75.0%
- FIIs
- 0.1%
- Public
- 25.0%
Since Jun 2025
- Promoters 0.00 pp
- FIIs 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, FIIs 0.2%, Public 24.9%.Dec '23: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Mar '24: Promoters 75.0%, FIIs 0.1%, Public 24.9%.Jun '24: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Sep '24: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Dec '24: Promoters 75.0%, FIIs 0.1%, Public 24.9%.Mar '25: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Jun '25: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Sep '25: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Dec '25: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Mar '26: Promoters 75.0%, FIIs 0.1%, Public 25.0%.Jun '26: Promoters 75.0%, FIIs 0.1%, Public 25.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Maral Overseas Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Agarwal Trademart Private Limited | 47.61% | unchanged |
| Agarwal Finestate Private Limited | 17.82% | unchanged |
| Diplomat Leasing and Finance Private Limited | 2.74% | unchanged |
| Smt. Shashi Agarwal | 2.50% | unchanged |
| Shekhar Agarwal | 1.82% | unchanged |
| Ajay Upadhyaya | 1.74% | unchanged |
| Inter Globe Capital Market Ltd. | 1.56% | unchanged |
| Santanu Agarwal | 1.34% | unchanged |
| Biz Secure Labs Private Limited | 1.01% | unchanged |
| Shekhar Agarwal HUF (Karta Shri Shekhar Agarwal) | 0.97% | unchanged |
| Smt. Shuchi Poddar | 0.14% | unchanged |
| Shekhar Agarwal-Trust (Trustee Shri Shekhar Agarwal) | 0.01% | unchanged |
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 Maral Overseas Limited
Guides on how to read this kind of business and the numbers that matter.