# Marine Electricals (India) share price today (Marine Electricals (India) Ltd, NSE: MARINE)

> Marine Electricals (India) share price today: ₹418.15 at the NSE close on 3 November 2026, up 66.8% in a year. Marine Electricals (India) (NSE: MARINE) is worth ₹5,847 crore, trades at a P/E of 89.9 and has closed between ₹161.40 and ₹455.65 over the past 52 weeks. > Marine Electricals (India) Ltd's results are improving, and its P/E is near the top of its own history, higher than 91% of past readings. MARINE · Shipping - Proxy · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/marine-electricals-indialtd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹418.15 (+66.8% in a year)
- P/E: 89.9× (higher than 91% of the last 8 years)
- Revenue (Jun 2026): ₹259 Cr (+55.1% on a year ago)
- Profit (Jun 2026): ₹18.0 Cr (+50.0% on a year ago)
- Operating margin: 11.0% (+1.0 points on a year ago)
- ROCE: 18%, FY26
- ROIC: 14.9%, against a 12.0% cost of capital: +2.9 points

The main question: profits are rising, but only 26% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Marine Electricals (India) share price today? Marine Electricals (India) Ltd's share price was ₹418.15 at the close on 3 November 2026. It has been rising for 24 weeks. That is 35.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹161 and ₹456, and at that close it sat 87% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 16 weeks in a row. Over the last 8.1 years the share price moved +3,035% while the NIFTY 500 moved +150%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Marine Electricals (India) this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), promoters cut their stake by 3 points in one quarter and indian funds and insurers (DIIs) raised their stake for 4 quarters in a row. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹259 crore, +55.1% on a year earlier. 2. Promoters cut their stake by 3 points in one quarter From 68.2% to 65.2% in the September 2026 quarter. 3. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row From 0.1% to 1.1% of the company by the September 2026 quarter. ## What are Marine Electricals (India)'s latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Marine Electricals (India) reported revenue of ₹259 crore, up 55.1% from ₹167 crore a year earlier, and a profit of ₹18.0 crore, up 50.0% from ₹12.0 crore. ### Marine Electricals (India) results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹259 crore | ₹167 crore | +55.1% |
| Profit | ₹18.0 crore | ₹12.0 crore | +50.0% |
| Earnings per share | ₹1.23 | ₹0.84 | +46.4% |
| Operating margin | 11.0% | 10.0% | +1.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Marine Electricals (India) share price history? Marine Electricals (India) closed at ₹418.15 on 3 November 2026, up 66.8% from ₹250.65 a year earlier (31 October 2025) and up 1,115.6% over five years. Its highest weekly close since October 2018 was ₹455.65 on 9 October 2026. ### Marine Electricals (India) share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹394.45 | +6.0% |
| 1 month ago · 1 Oct 2026 | ₹436.55 | −4.2% |
| 6 months ago · 30 Apr 2026 | ₹229.30 | +82.4% |
| 1 year ago · 31 Oct 2025 | ₹250.65 | +66.8% |
| 3 years ago · 3 Nov 2023 | ₹76.15 | +449.1% |
| 5 years ago · 4 Nov 2021 | ₹34.40 | +1,115.6% |
| Earliest and lowest weekly close in our records · 12 Oct 2018 | ₹13.34 | +3,034.6% |
| Highest weekly close since October 2018, also the 52-week high · 9 Oct 2026 | ₹455.65 | −8.2% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹161.40 | +159.1% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (428 weekly closes from 12 October 2018 to 3 November 2026.)

## What is the latest news on Marine Electricals (India)? 3 Nov 2026: Marine Electricals (India) closed at ₹418.15, up 6.0% on the week and down 4.2% on the month. 11 Sep 2026: ex-date for a dividend of ₹0.30 a share. ### Earlier

- Results for April to June 2026: Revenue up 55.1% and profit up 50.0% on a year earlier. ## What dividend does Marine Electricals (India) pay? Marine Electricals (India) paid ₹0.30 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.07% at the ₹418.15 close on 3 November 2026. The last was a dividend of ₹0.30 a share, ex-date 11 September 2026. ### Marine Electricals (India) dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Sep 2026 | ₹0.30 | Dividend |
| 12 Sep 2025 | ₹0.30 | Dividend |
| 20 Sep 2024 | ₹0.20 | Dividend |
| 20 Sep 2021 | ₹0.20 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Marine Electricals (India) Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 15 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Marine Electricals (India) management say on the latest results call? Marine Electricals (India)'s management made 0 promises we could check against what it later reported. (Our read after the January to March 2026 results, written 14 June 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Marine Electricals (India) story? What are the risks? 3y operating cash flow/profit 0.26, FY26 operating cash flow negative as ₹90 Cr working capital absorbed cash; debtor days 178 is high for project business. ### The main risks

- Weak Cash Conversion, operating cash flow/profit 0.26 Over 3 Years: 3y operating cash flow/profit 0.26, FY26 operating cash flow negative as ₹90 Cr working capital absorbed cash; debtor days 178 is high for project business. ⚠ estimate
- Promoter Dilution and Minimal Institutional Ownership: Promoter down 6.27% over 3 years; FII+MF only 0.93%, retail-dominated price discovery with high volatility risk. ⚠ estimate

(Our read after the January to March 2026 results, written 14 June 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## Which stock lists is Marine Electricals (India) on? Marine Electricals (India) is on one of our India lists: Momentum stocks. [Momentum stocks Market cap cr: 5678.3679469535855](https://www.sectoralpha.in/momentum-stocks-india)

## Is Marine Electricals (India) profitable? Marine Electricals (India) Ltd earned ₹18.0 Cr of net profit in the Jun 2026 quarter, +50.0% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹59.0 Cr. Over 10 years profit has grown 20.7% a year on average. That is 6.9% of the quarter's revenue. The same quarter a year earlier earned ₹12.0 Cr. For the full year, FY26 profit was ₹59.0 Cr (+55.3% on the year before). Why profit moved: revenue changed +55.1% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +64.1% and revenue +23.6%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Marine Electricals (India) make, and is it growing? Marine Electricals (India) Ltd reported ₹259 Cr of revenue in the Jun 2026 quarter, +55.1% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 13.4% a year on average. The last full year, FY26, came in at ₹877 Cr. Why this happened. Revenue has grown from ₹251 Cr (FY21) to ₹877 Cr (FY26), a 5-year CAGR of approximately 28%. Q4 FY26 achieved ₹277.48 Cr, the highest quarterly revenue in the company's history. Year-on-year revenue growth of 14.33% in FY26 and PAT growth of 53.82% demonstrate operating leverage starting to manifest as scale increases, though PAT growth has outpaced revenue due to margin expansion that may not be permanent. The last four reported quarters add to ₹968 Cr. FY26 revenue was ₹877 Cr, +14.3% on the year before. Recent pace: the last four quarters grew +23.6% on average, against 13.4% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +21.6%, against +21.2% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +50.0%, against +50.9% a year (stabilising). ## How much of every ₹100 of sales does Marine Electricals (India) keep? Marine Electricals (India) Ltd's operating margin was 11.0% in the Jun 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 15 years it has been between 6.0% and 11.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +0.8 percentage points on the year while gross margin changed −2.5 points. So the gain came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Marine Electricals (India)'s profit turning into cash? Over the last 3 years, 26% of Marine Electricals (India) Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹16.0 Cr of cash, against ₹59.0 Cr of profit. After ₹36.0 Cr of spending on assets, free cash was −₹52.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 26% of profit came in as cash: the cash cycle got 59 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 2.1× depreciation over three years. The next section checks what that spending is building. ## Where does Marine Electricals (India)'s cash go? Marine Electricals (India) Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 93 days in FY26, down from 152 days in FY21. It spent ₹87.0 Cr on assets over the last 3 years. Customers take 178 days to pay, and stock sits for 50 days on average. At FY26 sales of ₹877 Cr, each day of that cycle ties up about ₹2.4 Cr, so roughly ₹223 Cr is tied up in the business at any time. FY26: customers took 178 days to pay and stock sat for 50 days, about 1.6 months of sales sitting as stock, for a full cycle of 93 days, shorter than FY21's 152. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 50 days. Customers pay about 178 days after that. Suppliers are paid at 135 days. Together that makes the 93-day cycle. Spending on assets: ₹87.0 Cr over the last 3 years, against ₹41.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹19.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Marine Electricals (India)'s P/E ratio, and how does it compare with its own history? Marine Electricals (India) Ltd's P/E is 89.9×, near the high end of its own history: higher than 91% of past readings. Its usual P/E (the middle reading) is 45.1×, over 8 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹4.60. Why the multiple is where it is: over the past year earnings per share moved +49.5% while the price moved +66.8%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +64.8% a year; about +23.3% a year came from earnings growth and about +41.5 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Marine Electricals (India) business getting better or worse? Marine Electricals (India) Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 21.4%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## What is the Marine Electricals (India) story, and has it been checked? Marine Electricals (India) Ltd's story is not scored yet against the checks our research set on 14 June 2026. Where it sits in its own cycle: Not stated in the research file. What is proven. See the research file

What is not proven yet. What the surface reading misses. The surface reading is: OCF negative in FY26 suggests the business is not generating cash from operations, weak cash quality The research reads it further: The decomposition via cash decomposition reveals the mechanism: ΔWC = +₹90 Cr in FY26 absorbed the ₹74 Cr of cash profit (PAT ₹59 Cr + depreciation ₹15 Cr). The driver within WC was debtors rising from 157 to 178 days (₹11 Cr incremental receivables per day × revenue scale), while inventory fell 52 days (positive) and payables compressed 24 days (negative). The WC build is project-receivables driven, not inventory build or channel stuffing. In FY25 OCF recovered to ₹55 Cr (OCF/PAT 1.45x) when WC normalized, confirming the mechanism is timing of collections, not structural leakage. Sources: our stock research file (14 June 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## How much does Marine Electricals (India) earn on its capital? Marine Electricals (India) Ltd earned a ROCE of 18% in FY26. That is up from a low of 9% in FY20. Its return on capital used (ROIC) is 2.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 6.7% net margin and 0.99× asset turnover (sales divided by assets). Why this happened. ROCE improved from 12% (FY22) to 18% (FY26) over four years, indicating genuine capital deployment improvement as the business scales. However, the cycle normalized analysis places current ROCE at the 70th percentile of its own history and the OPM driving it at the 79th percentile, so the question is whether ROCE improvement is durable or peak-cycle. The MID EXPANSION operating cycle stage (not PEAK yet) provides qualified support. Why the return is what it is (FY26): a 6.7% net margin × 0.99× asset turnover × 1.81× leverage (assets divided by equity) ≈ 12.0% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 14.9% − 12.0% = +2.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. ## Does Marine Electricals (India) have too much debt? Marine Electricals (India) Ltd has total debt of ₹89.0 Cr against shareholder equity of ₹502 Cr as of Jun 2026, so its debt is 0.18× its equity, which is very little. Year by year, that ratio went from 0.20 in FY22 to 0.18 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Marine Electricals (India) shareholding pattern? Promoters cut their stake in Marine Electricals (India) Ltd by 3.3 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 65.2% of the company. Foreign institutions moved +1.1 points over the same period, to 2.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −3.3 points over 8 quarters, to 65.2%; Foreign institutions: +1.1 points over 8 quarters, to 2.1%; Domestic institutions: +1.0 points over 8 quarters, to 1.1%. Why the owners changed: promoters drove it (−3.3 points), with the other side taken by foreign institutions (+1.1 points). They reduced their stake. ## How far is Marine Electricals (India) from balance-sheet trouble? For Marine Electricals (India) Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Marine Electricals (India) rank in its industry? 72.0 out of 100, rank 2 of 3 in Shipping - Proxy, with 93% of the evidence available. Marine Electricals (India) Ltd scores 72.0 out of 100 against the 3 companies it is compared with in Shipping - Proxy, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 28 + 14.2 + 9.8 + 20 = 72. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Marine Electricals (India) compared with? Marine Electricals (India) ranks 2 of 3 Shipping - Proxy companies on the 4-Factor Sector Score, with 72.0 out of 100. 1. [Krishna Defence & Allied Industries Ltd](https://www.sectoralpha.in/stocks/krishna-defence-allied-industries-ltd) KRISHNADEF · turning · Most evidence points up · 79% evidence 74.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 34.1/35 · Revenue 22.4% · Profit 69% · Operating margin change 8 points · 95% evidence Capital efficiency 22.0/25 · ROCE 30.7% · Operating margin 27% · 76% evidence Valuation 13.5/20 · P/E 36.5× · PEG n/a · 35% evidence Relative strength 5.0/20 · Lead over its industry -14.7% · Lead over NIFTY 500 22.8% · 1 year 53.4% · 100% evidence · 1 of 12 weeks ahead Exact sum: 34.1 + 22 + 13.5 + 5 = 74.6 · What this means: Earnings are strong; relative strength in its sector is -14.7% and the one-year return is 53.4%. 2. Marine Electricals (India) Ltd this page MARINE · leader · Most evidence points up · 93% evidence 72.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.0/35 · Revenue 21.6% · Profit 50% · Operating margin change 1 points · 88% evidence Capital efficiency 14.2/25 · ROCE 18% · Operating margin 11% · 100% evidence Valuation 9.8/20 · P/E 86× · PEG 1.21 · 85% evidence Relative strength 20.0/20 · Lead over its industry 14.3% · Lead over NIFTY 500 57.9% · 1 year 59.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 28 + 14.2 + 9.8 + 20 = 72 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. CFF Fluid Control Ltd losing its lead · Too little evidence to rank firmly · 54% evidence 54.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 100% · Profit 100% · Operating margin change 1 points · 27% evidence Capital efficiency 20.0/25 · ROCE 23.5% · Operating margin 28% · 71% evidence Valuation 8.4/20 · P/E 49.1× · PEG n/a · 35% evidence Relative strength 5.0/20 · Lead over its industry -9.7% · Lead over NIFTY 500 26.2% · 1 year 34.3% · 100% evidence · 11 of 12 weeks ahead Exact sum: 20.8 + 20 + 8.4 + 5 = 54.2 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Shipping - Proxy](https://www.sectoralpha.in/sectors/shipping-proxy), all 3 compared on one page. ## Which companies are close to Marine Electricals (India) in size? Marine Electricals (India) is the largest of 3 Shipping - Proxy companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: CFF Fluid Control and Krishna Defence & Allied Industries. ### Shipping - Proxy companies close in size

1. Marine Electricals (India) Ltd ₹5,593 crore
2. [CFF Fluid Control Ltd](https://www.sectoralpha.in/stocks/cff-fluid-control-ltd) ₹2,059 crore
3. [Krishna Defence & Allied Industries Ltd](https://www.sectoralpha.in/stocks/krishna-defence-allied-industries-ltd) ₹60 crore

[All 3 Shipping - Proxy companies, largest first](https://www.sectoralpha.in/sectors/shipping-proxy#all-companies)

### Companies close in size in other industries

1. [Kusumgar Ltd](https://www.sectoralpha.in/stocks/kusumgar-ltd) ₹5,622 crore
2. [Jai Balaji Industries Ltd](https://www.sectoralpha.in/stocks/jai-balaji-industries-ltd) ₹5,613 crore · DI Pipes/Saw Pipes
3. Marine Electricals (India) Ltd ₹5,593 crore
4. [Mrs Bectors Food Specialities Ltd](https://www.sectoralpha.in/stocks/mrs-bectors-food-specialities-ltd) ₹5,575 crore · FMCG - Foods
5. [Ganesh Housing Ltd](https://www.sectoralpha.in/stocks/ganesh-housing-ltd) ₹5,568 crore · Realty - Construction & Contracting

## What else do people ask about Marine Electricals (India)? ### What is Marine Electricals (India)'s share price today? Marine Electricals (India) Ltd's share price is ₹418.15, +66.8% over the past year. The whole company is worth ₹5,847 Cr on the market. In the last 52 weeks it traded between ₹161 to ₹456; today it is 87% of the way up from the low, 35.2% above its 200-day average (as of 3 November 2026). ### What were Marine Electricals (India)'s latest quarterly results? Marine Electricals (India) Ltd reported revenue of ₹259 Cr and net profit of ₹18.0 Cr for the Jun 2026 quarter. Revenue rose 55.1% and profit rose 50.0% compared with a year earlier. Earnings per share were ₹1.23. The operating margin was 11.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Marine Electricals (India)'s market cap? Marine Electricals (India) Ltd's market capitalisation is ₹5,847 Cr at a share price of ₹418.15. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Marine Electricals (India) performing? Marine Electricals (India) Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 55.1% and profit rose 50.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 16 weeks running (as of 3 November 2026). ### Will Marine Electricals (India)'s share price go up? This page does not forecast Marine Electricals (India) Ltd's share price. What it shows instead: the share price is ₹418.15, and it has been rising for 24 weeks. Its P/E of 89.9× is higher than 91% of its own last 8 years (as of 3 November 2026). ### Who owns Marine Electricals (India)? Promoters own 65.2% of Marine Electricals (India) Ltd, foreign institutions 2.1%, domestic institutions 1.1% and the public 31.6% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 3.3 percentage points over 8 quarters (as of 3 November 2026). ### Does Marine Electricals (India) have too much debt? No, Marine Electricals (India) Ltd has little debt: its debt is 0.18× its equity, and its operating profit is 5 times its interest bill. FY26 borrowings were ₹89.0 Cr against equity of ₹493 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Marine Electricals (India) in its business cycle? Marine Electricals (India) Ltd's FY26 operating margin was 11.0%, against a 15-year range of 6.0% to 11.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 11.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Marine Electricals (India) story? The main question: profits are rising, but only 26% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Marine Electricals (India) a stock worth studying right now? What the numbers show: Marine Electricals (India) Ltd's results are improving, and its P/E is near the top of its own history, higher than 91% of past readings. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Marine Electricals (India) share price forecast for 2026? What would change the story: 3y operating cash flow/profit 0.26, FY26 operating cash flow negative as ₹90 Cr working capital absorbed cash; debtor days 178 is high for project business. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

This is research, not advice. We’re not SEBI-registered.