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Maral Overseas

BSE:521018
Snowflake Description

Good value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
521018
BSE
₹1B
Market Cap
  1. Home
  2. IN
  3. Consumer Durables
Company description

Maral Overseas Limited manufactures and sells cotton yarns, knitted fabrics, and garments in India. The last earnings update was 18 days ago. More info.


Add to Portfolio Compare Print
  • Maral Overseas has significant price volatility in the past 3 months.
521018 Share Price and Events
7 Day Returns
-4.7%
BSE:521018
-2.1%
IN Luxury
-2.4%
IN Market
1 Year Returns
-37.1%
BSE:521018
-8.5%
IN Luxury
-9%
IN Market
521018 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Maral Overseas (521018) -4.7% -17.4% -21.8% -37.1% -4.3% 39.1%
IN Luxury -2.1% -1.1% -3.2% -8.5% 49.4% 189.7%
IN Market -2.4% -4.1% -4% -9% 41.6% 79.8%
1 Year Return vs Industry and Market
  • 521018 underperformed the Luxury industry which returned -8.5% over the past year.
  • 521018 underperformed the Market in India which returned -9% over the past year.
Price Volatility
521018
Industry
5yr Volatility vs Market

521018 Value

 Is Maral Overseas undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Maral Overseas to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Maral Overseas.

BSE:521018 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 16.6%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:521018
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 7.5%
Luxury Unlevered Beta Simply Wall St/ S&P Global 0.57
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.574 (1 + (1- 35%) (172.35%))
1.217
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.217 * 7.45%)
16.62%

Discounted Cash Flow Calculation for BSE:521018 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Maral Overseas is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

BSE:521018 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (INR, Millions) 231.46 234.83 238.24 241.71 245.22
Source Est @ 1.45% Est @ 1.45% Est @ 1.45% Est @ 1.45% Est @ 1.45%
Present Value
Discounted (@ 16.62%)
198.48 172.67 150.22 130.69 113.70
Present value of next 5 years cash flows ₹765.76
BSE:521018 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= ₹245.22 × (1 + 7.55%) ÷ (16.62% – 7.55%)
₹2,908.62
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= ₹2,908.62 ÷ (1 + 16.62%)5
₹1,348.56
BSE:521018 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= ₹765.76 + ₹1,348.56
₹2,114.31
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹2,114.31 / 41.51
₹50.94
BSE:521018 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹50.94
Current discount Discount to share price of ₹23.50
= -1 x (₹23.50 - ₹50.94) / ₹50.94
53.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Maral Overseas is available for.
Intrinsic value
>50%
Share price is ₹23.5 vs Future cash flow value of ₹50.94
Current Discount Checks
For Maral Overseas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Maral Overseas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Maral Overseas's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Maral Overseas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Maral Overseas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:521018 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹2.22
BSE:521018 Share Price ** BSE (2019-02-18) in INR ₹23.5
India Luxury Industry PE Ratio Median Figure of 238 Publicly-Listed Luxury Companies 11.72x
India Market PE Ratio Median Figure of 2,718 Publicly-Listed Companies 15.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Maral Overseas.

BSE:521018 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:521018 Share Price ÷ EPS (both in INR)

= 23.5 ÷ 2.22

10.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Maral Overseas is good value based on earnings compared to the IN Luxury industry average.
  • Maral Overseas is good value based on earnings compared to the India market.
Price based on expected Growth
Does Maral Overseas's expected growth come at a high price?
Raw Data
BSE:521018 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.61x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
4%per year
India Luxury Industry PEG Ratio Median Figure of 27 Publicly-Listed Luxury Companies 1.11x
India Market PEG Ratio Median Figure of 606 Publicly-Listed Companies 1.1x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Maral Overseas, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Maral Overseas's assets?
Raw Data
BSE:521018 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹23.73
BSE:521018 Share Price * BSE (2019-02-18) in INR ₹23.5
India Luxury Industry PB Ratio Median Figure of 307 Publicly-Listed Luxury Companies 0.7x
India Market PB Ratio Median Figure of 3,587 Publicly-Listed Companies 1.04x
BSE:521018 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:521018 Share Price ÷ Book Value per Share (both in INR)

= 23.5 ÷ 23.73

0.99x

* Primary Listing of Maral Overseas.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Maral Overseas is overvalued based on assets compared to the IN Luxury industry average.
X
Value checks
We assess Maral Overseas's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check)
  5. Maral Overseas has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

521018 Future Performance

 How is Maral Overseas expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Maral Overseas, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Maral Overseas expected to grow at an attractive rate?
  • Maral Overseas's earnings growth is positive but not above the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Maral Overseas's earnings growth is positive but not above the India market average.
  • Unable to compare Maral Overseas's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:521018 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:521018 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 4%
India Luxury Industry Earnings Growth Rate Market Cap Weighted Average 18.4%
India Luxury Industry Revenue Growth Rate Market Cap Weighted Average 15%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:521018 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:521018 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
BSE:521018 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 7,203 92
2018-09-30 7,176 50
2018-06-30 6,595 31
2018-03-31 6,407 676 10
2017-12-31 6,676 18
2017-09-30 6,541 77
2017-06-30 6,781 126
2017-03-31 6,664 435 138
2016-12-31 6,278 125
2016-09-30 6,094 90
2016-06-30 6,064 80
2016-03-31 6,162 252 80

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Maral Overseas's earnings are expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Maral Overseas is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:521018 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Maral Overseas Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:521018 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
BSE:521018 Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 2.22
2018-09-30 1.21
2018-06-30 0.76
2018-03-31 0.24
2017-12-31 0.44
2017-09-30 1.85
2017-06-30 2.68
2017-03-31 3.33
2016-12-31 3.49
2016-09-30 2.25
2016-06-30 1.97
2016-03-31 1.92

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Maral Overseas will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Maral Overseas's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Maral Overseas has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

521018 Past Performance

  How has Maral Overseas performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Maral Overseas's growth in the last year to its industry (Luxury).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Maral Overseas's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Maral Overseas's 1-year earnings growth exceeds its 5-year average (402.3% vs -37.4%)
  • Maral Overseas's earnings growth has exceeded the IN Luxury industry average in the past year (402.3% vs 14%).
Earnings and Revenue History
Maral Overseas's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Maral Overseas Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:521018 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 7,202.90 91.77 936.88
2018-09-30 7,175.80 50.47 918.98
2018-06-30 6,594.50 31.40 888.40
2018-03-31 6,407.10 9.87 907.58
2017-12-31 6,675.53 18.27 921.16
2017-09-30 6,541.33 76.57 926.36
2017-06-30 6,781.30 126.30 878.60
2017-03-31 6,664.32 138.33 888.28
2016-12-31 6,278.26 124.88 874.88
2016-09-30 6,094.36 89.78 841.68
2016-06-30 6,064.06 80.38 814.88
2016-03-31 6,162.36 79.58 795.18
2015-12-31 6,293.20 112.57 1,002.46
2015-09-30 6,376.90 136.17 968.36
2015-06-30 6,407.10 152.90 690.30
2015-03-31 6,464.70 144.57 675.73
2014-12-31 6,360.83 171.75 901.83
2014-09-30 6,454.53 214.25 865.73
2014-06-30 6,639.40 271.92 530.70
2014-03-31 6,505.93 272.85 814.83
2013-12-31 6,369.30 373.10 771.33
2013-09-30 6,091.50 329.80 759.13
2013-06-30 5,683.00 269.50 742.63
2013-03-31 5,568.30 219.90 729.66
2012-12-31 5,494.85 121.89 682.30
2012-09-30 5,465.20 151.40 440.60
2012-06-30 5,440.30 34.00 429.40
2012-03-31 5,342.25 -96.91 645.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Maral Overseas has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Maral Overseas used its assets less efficiently than the IN Luxury industry average last year based on Return on Assets.
  • Maral Overseas has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Maral Overseas's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Maral Overseas has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

521018 Health

 How is Maral Overseas's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Maral Overseas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Maral Overseas's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Maral Overseas's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Maral Overseas's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Maral Overseas Company Filings, last reported 1 month ago.

BSE:521018 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 981.60 1,795.60 32.20
2018-09-30 981.60 1,795.60 32.20
2018-06-30 938.30 1,785.00 46.60
2018-03-31 938.25 2,309.22 22.16
2017-12-31 941.50 1,746.50 38.00
2017-09-30 941.50 1,746.50 38.00
2017-06-30 1,163.66 1,697.17 18.74
2017-03-31 940.58 2,538.35 15.78
2016-12-31 1,121.79 1,055.72 33.39
2016-09-30 1,121.79 1,055.72 33.39
2016-06-30 1,057.24 2,124.20 37.12
2016-03-31 1,057.24 2,124.20 37.12
2015-12-31 1,054.30 1,138.46 70.20
2015-09-30 1,054.30 1,138.46 70.20
2015-06-30 991.52 1,615.19 71.12
2015-03-31 991.52 2,008.43 71.12
2014-12-31 912.85 1,360.81 43.33
2014-09-30 912.85 1,360.81 43.33
2014-06-30 868.46 1,837.37 31.05
2014-03-31 868.46 2,162.17 31.05
2013-12-31 764.44 1,616.31 45.34
2013-09-30 764.44 1,616.31 45.34
2013-06-30 573.28 2,334.08 65.22
2013-03-31 573.28 2,334.08 65.22
2012-12-31 472.56 1,957.48 58.73
2012-09-30 472.56 1,957.48 58.73
2012-06-30 374.46 2,154.68 55.69
2012-03-31 356.93 2,430.29 55.69
  • Maral Overseas's level of debt (182.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (211.9% vs 182.9% today).
  • Debt is well covered by operating cash flow (37.6%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Maral Overseas's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Maral Overseas has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

521018 Dividends

 What is Maral Overseas's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Maral Overseas dividends.
If you bought ₹2,000 of Maral Overseas shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Maral Overseas's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Maral Overseas's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:521018 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Luxury Industry Average Dividend Yield Market Cap Weighted Average of 109 Stocks 0.7%
India Market Average Dividend Yield Market Cap Weighted Average of 1397 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:521018 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Maral Overseas has not reported any payouts.
  • Unable to verify if Maral Overseas's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Maral Overseas's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Maral Overseas has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Maral Overseas's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Maral Overseas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Maral Overseas has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

521018 Management

 What is the CEO of Maral Overseas's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Shekhar Agarwal
COMPENSATION ₹11,488,000
AGE 66
CEO Bio

Mr. Shekhar Agarwal, B.Tech. (ME), M.Sc. serves as the Chairman, Chief Executive Officer and Managing Director at Bhilwara Technical Textiles Ltd. Mr. Agarwal has been Managing Director of Maral Overseas Ltd. since January 1, 1991 and also serves as its Chief Executive Officer. He serves as the Managing Director and Chairman of Banswara Textile Mills Limited. He served as Managing Director of Rajasthan Spinning & Weaving Mills Ltd. (RSWM Limited) until February 2009. He served as Compliance Officer at Bhilwara Technical Textiles Ltd. Shri. Agarwal is a Promoter of HEG Ltd. and serves as its Vice Chairman. He is an Industrialist with a rich business experience and well-known name in Textile Industry. He serves as Vice Chairman at RSWM Limited (a/k/a Rajasthan Spinning & Weaving Mills Ltd.) and has been its Non-Executive Director since February 13, 1984. He serves as the Vice Chairman at HEG Ltd. He has been a Non-Executive Promoter Director of HEG Ltd., since July 15, 1996. He has been an Executive Director of Maral Overseas Ltd. since January 27, 1989. He has been a Non Executive Director of BSL Limited since May 23, 2002. He has been a Director of Bhilwara Technical Textiles Limited since December 14, 2007. He served as a Director of Essay Marketing Company Ltd., Bhilwara Infotech Ltd. and APPTEX Manpower Development Services Ltd. He served as a Non Executive Director of Bhilwara Spinners Ltd., until July 30, 2008. Shri. Agarwal holds a B.Tech (Mech) from IIT, Kanpur and Master of Science Degree in Industrial & Systems Engineering from Illinois Institute of Technology, Chicago, USA.

CEO Compensation
  • Shekhar's compensation has been consistent with company performance over the past year.
  • Shekhar's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Maral Overseas management team in years:

5.6
Average Tenure
51
Average Age
  • The average tenure for the Maral Overseas management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Shekhar Agarwal

TITLE
MD, CEO & Executive Director
COMPENSATION
₹11M
AGE
66

Atul Jain

TITLE
Chief Financial Officer
COMPENSATION
₹5M
AGE
42
TENURE
1.5 yrs

Virendra Garg

TITLE
Compliance Officer & Company Secretary
COMPENSATION
₹1M
AGE
37
TENURE
1.3 yrs

Mohit Maheshwari

TITLE
Vice President of Marketing
AGE
42
TENURE
19.8 yrs

Naveen Maheshwari

TITLE
Senior Vice President of Noida Unit
AGE
51
TENURE
16.8 yrs

Y. Thakur

TITLE
Vice President of Business Development
AGE
64
TENURE
4.8 yrs

Ashok Akade

TITLE
Vice President of Spinning
AGE
44
TENURE
10.1 yrs

P. Puri

TITLE
COMPENSATION
₹8M
AGE
71
TENURE
1.5 yrs

Ramesh Jhunjhunwala

TITLE
AVP of Finance and Accounts
AGE
67
TENURE
6.3 yrs

Dinesh Mittal

TITLE
President of Sarovar Unit
Board of Directors Tenure

Average tenure and age of the Maral Overseas board of directors in years:

15
Average Tenure
64.5
Average Age
  • The average tenure for the Maral Overseas board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ravi Jhunjhunwala

TITLE
Non-Executive Chairman
COMPENSATION
₹200K
AGE
63

Shekhar Agarwal

TITLE
MD, CEO & Executive Director
COMPENSATION
₹11M
AGE
66
TENURE
30.1 yrs

Lakshmi Jhunjhunwala

TITLE
Chairman-Emeritus
AGE
90

Kamal Gupta

TITLE
Independent Non-Executive Director
COMPENSATION
₹760K
AGE
72
TENURE
27.6 yrs

Priya Dasgupta

TITLE
Independent Non-Executive Director
COMPENSATION
₹250K
AGE
63
TENURE
15.3 yrs

Dharmendar Davar

TITLE
Independent Non-Executive Director
COMPENSATION
₹680K
AGE
84
TENURE
14.6 yrs

Shantanu Agarwal

TITLE
Non-Executive Director
COMPENSATION
₹200K
AGE
32
TENURE
4.8 yrs

Archana Capoor

TITLE
Independent Non-Executive Director
COMPENSATION
₹250K
AGE
60
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
X
Management checks
We assess Maral Overseas's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Maral Overseas has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

521018 News

Simply Wall St News

521018 Company Info

Map
Description

Maral Overseas Limited manufactures and sells cotton yarns, knitted fabrics, and garments in India. It operates in three segments: Yarn, Fabric, and Textile Made-Ups. The company’s products comprise cotton combed Ecru and dyed yarns; and special yarns, including bamboo/cotton, modal/cotton, soya/cotton, organic cotton, fair trade certified cotton, long staple cotton/pima cotton, slub, core spun lycra, compact, contamination free, reverse and zero twist, and recycled cotton yarns used in various applications, such as circular and socks knitting, flat knits, towel weaving, denim and bottom weight fabrics, yarn dyeing, and sweaters. It also offers fabrics in various knits, such as single jersey, rib, interlock, piquet, fleece, French rib, pointelle, and autostriper/engineered stripe products; special fibers and yarns comprising bamboo and blends, soya and blends, organic cotton, fairtrade certified cotton, polyester, slub fabric, modal and blends, and tencel and blends; and special finishes. In addition, the company provides a range of garments consisting of active wear, casual wear, and sleepwear for men and ladies; fairtrade garments for infants and kids; and fashion and maternity wear for women. Its knitted products include T-shirts, polo shirts, rugby shirts, henley shirts, hooded shirts, jackets, sweatshirts, tank tops, camisoles, shorts, pyjamas, joggers, etc. for men and ladies. The company markets its products in the United States, Canada, Europe, Japan, Hong Kong, the Middle East, South Africa, and other countries. Maral Overseas Limited was incorporated in 1989 and is based in Noida, India.

Details
Name: Maral Overseas Limited
521018
Exchange: BSE
Founded: 1989
₹1,041,850,800
41,508,000
Website: http://www.maraloverseas.com
Address: Maral Overseas Limited
Bhilwara Towers,
A-12, Sector-1,
Noida,
Uttar Pradesh, 201301,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 521018 Equity Shares Mumbai Stock Exchange IN INR 26. Aug 1994
NSEI MARALOVER Equity Shares National Stock Exchange of India IN INR 26. Aug 1994
Number of employees
Current staff
Staff numbers
2,475
Maral Overseas employees.
Industry
Textiles
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 12:41
End of day share price update: 2019/02/18 00:00
Last estimates confirmation: 2017/04/27
Last earnings filing: 2019/01/31
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.