Maral Overseas LimitedQuarter ended 30.09.2026 Results & Financial Update
Maral Overseas Limited: Quarter ended 30.09.2026 standalone results and company financials – revenue ₹301.30 Cr, PAT ₹7.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
Find an answer
Ask this result
Chart · Market context
Maral Overseas price & chart
Market priceLoading…
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Maral Overseas Quarter ended 30.09.2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Maral Overseas delivered top-line expansion in the September 2026 quarter, registering revenue from operations of INR 301.30 crore, representing a 20.67% increase compared to INR 249.70 crore in the corresponding period of the previous year.
Total income for the quarter reached INR 308.20 crore, compared to INR 254.36 crore in the same quarter a year ago and INR 268.95 crore in the preceding June 2026 quarter.
Profitability turned positive compared to the year-ago period, with profit after tax (PAT) reaching INR 7.00 crore, recovering from a net loss of INR 2.78 crore reported in the September 2025 quarter.
On a sequential basis, net profit improved from INR 5.98 crore in the June 2026 quarter, supported by steady operational performance across the core spinning and fabric divisions.
Basic and diluted earnings per share (EPS) for the quarter stood at INR 1.69, compared to an EPS loss of INR 0.67 in the year-ago quarter and INR 1.44 in the previous quarter.
Finance costs for the quarter were stable at INR 9.70 crore, compared to INR 9.14 crore in the corresponding period of the previous year.
Depreciation and amortisation expenses remained contained at INR 7.85 crore, showing little variance from INR 7.73 crore in the corresponding quarter of FY25.
01 · Business model
What does Maral Overseas do?
Maral Overseas Limited operates as an integrated textile manufacturer with operations spanning spinning, fabric production, dyeing, and garment manufacturing.
The company's primary manufacturing facility, known as Maral Sarovar, is located in the Khargone district of Madhya Pradesh and houses its core processing, spinning, and printing divisions.
The business model covers multiple value-addition tiers within textiles, converting raw cotton and fibers into yarn, knitted and processed fabrics, and finished garments for domestic and international markets.
To support its manufacturing energy needs, the company relies on grid power and captive arrangements, complemented by ongoing strategic investments in renewable energy infrastructure.
02 · Historical context
What shaped the business before this quarter
The company's core manufacturing base, Maral Sarovar, was established more than 35 years ago in Madhya Pradesh and has since served as its primary integrated production hub.
Following the central government's consolidation of labor regulations into four new codes in November 2025, the company accounted for an estimated past-service cost impact of INR 59.83 lakh as an exceptional item in the December 2025 quarter.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter ended 30.09.2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹301.30 Cr | ₹249.70 Cr | ₹263.21 Cr |
| Total income | ₹308.20 Cr | ₹254.36 Cr | ₹268.95 Cr |
| Profit before tax | ₹7.50 Cr | ₹-3.14 Cr | ₹5.32 Cr |
| Profit after tax | ₹7.00 Cr | ₹-2.78 Cr | ₹5.98 Cr |
| EPS | ₹1.69 | ₹-0.67 | ₹1.44 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The yarn segment generated gross revenue of INR 223.83 crore during the quarter, up from INR 174.04 crore in the year-ago period, acting as the primary driver of top-line growth.
Fabric segment revenue rose to INR 94.35 crore during the quarter compared to INR 83.64 crore in the corresponding period of the previous year.
Garment segment revenue stood at INR 38.69 crore for the quarter, compared to INR 43.41 crore in the September 2025 quarter.
What drove margins
Cost of materials consumed increased to INR 184.83 crore for the quarter, reflecting higher operational throughput compared to INR 148.73 crore in the year-ago period.
Employee benefit expenses remained well-controlled at INR 41.35 crore, compared to INR 42.82 crore in the corresponding quarter of the previous fiscal year.
Other expenses stood at INR 51.33 crore for the quarter, compared to INR 44.14 crore in the year-ago quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Yarn segment profit before interest and tax strengthened to INR 13.20 crore during the quarter, compared to INR 6.93 crore in the September 2025 quarter.
Fabric segment profit before interest and tax improved to INR 5.46 crore, compared to INR 4.41 crore in the corresponding quarter of the previous year.
Garment segment reported a loss before interest and tax of INR 0.48 crore, narrowing from a loss of INR 4.56 crore in the year-ago quarter.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Installed manufacturing capacity stands at 1,610 MT/month for spinning, 280 MT/month for yarn dyeing, 640 MT/month for process fabric in the dye house, and 35 MT/month for printing.
Capacity utilization levels stand at 1,500 MT/month for spinning, 275 MT/month for yarn dyeing, and 475 MT/month for process fabric in the dye house.
Projects, capex and execution
The Board approved an in-principle capital expenditure plan of up to INR 180 crore for upgradation, modernization, and capacity enhancement at the Maral Sarovar plant, to be implemented in phases until 2030.
The proposed capex includes adding 290 MT/month in melange yarn, ~50 MT/month in yarn dyeing, ~84 MT/month in fiber dyeing house-process fabric, and 240 MT/month in printing, alongside ETP and electrical infrastructure upgrades.
The modernization program is intended to be funded through a combination of bank finance and internal accruals, subject to final financing arrangements.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The board approved a revised investment amount of INR 3.64 crore (compared to INR 2.60 lakh previously noted) to acquire a 26% equity stake in Asawata Energy Private Limited, an SPV set up to develop a 15 MW solar power plant under the Group Captive model.
08 · Reported developments
What changed operationally
The company swung to a net profit of INR 7.00 crore in Q2 FY27 from a net loss of INR 2.78 crore in Q2 FY25.
Investment in Asawata Energy Private Limited aims to optimize power costs and increase the share of renewable energy in the company's overall energy mix.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the half year ended 30 September 2026 stood at INR 17.20 crore, compared to INR 55.96 crore in the corresponding period of the previous year.
Net cash generated from investing activities for the half-year period was INR 2.47 crore, which included interest received of INR 4.67 crore against capital expenditure outflows of INR 1.43 crore.
Net cash used in financing activities for the half year was INR 19.55 crore, driven by term loan repayments and working capital adjustments.
Capital allocation & funding
As of 30 September 2026, non-current borrowings stood at INR 121.39 crore while current borrowings were INR 218.24 crore.
Non-current financial liabilities include non-convertible redeemable preference shares amounting to INR 30.00 crore.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor Review
The statutory auditors issued an unqualified limited review report on the unaudited financial results for the quarter and half year ended 30 September 2026.
11 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations increased from INR 263.21 crore in Q1 FY27 to INR 301.30 crore in Q2 FY27.
Net profit for the quarter rose to INR 7.00 crore from INR 5.98 crore in the preceding quarter.
12 · Key Q&A
The quarter, answered directly
What does Maral Overseas do?
Maral Overseas Limited operates as an integrated textile manufacturer with operations spanning spinning, fabric production, dyeing, and garment manufacturing.
What is the clearest takeaway from Quarter ended 30.09.2026?
Maral Overseas delivered top-line expansion in the September 2026 quarter, registering revenue from operations of INR 301.30 crore, representing a 20.67% increase compared to INR 249.70 crore in the corresponding period of the previous year.
What drove revenue or demand?
The yarn segment generated gross revenue of INR 223.83 crore during the quarter, up from INR 174.04 crore in the year-ago period, acting as the primary driver of top-line growth.
What mattered most for margins or profitability?
Cost of materials consumed increased to INR 184.83 crore for the quarter, reflecting higher operational throughput compared to INR 148.73 crore in the year-ago period.
What changed operationally beyond the headline numbers?
Installed manufacturing capacity stands at 1,610 MT/month for spinning, 280 MT/month for yarn dyeing, 640 MT/month for process fabric in the dye house, and 35 MT/month for printing.
What should the next disclosure help confirm?
Progress on the execution of the long-term Power Purchase Agreement and establishment of the 15 MW solar plant by Asawata Energy Private Limited.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Solar Power Project Execution: Progress on the execution of the long-term Power Purchase Agreement and establishment of the 15 MW solar plant by Asawata Energy Private Limited.
- 02
Phased Capex Implementation: Execution milestones and financing tie-ups for the INR 180 crore modernization plan at the Maral Sarovar plant through 2030.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.