Reported Earnings • May 23
Full year 2026 earnings released: EPS: ₹0.46 (vs ₹3.91 in FY 2025) Full year 2026 results: EPS: ₹0.46. Revenue: ₹1.28b (down 19% from FY 2025). Net income: ₹5.96m (up 20% from FY 2025). Profit margin: 0.5% (up from 0.3% in FY 2025). The increase in margin was driven by lower expenses. Announcement • May 15
Marinetrans India Limited to Report Second Half, 2026 Results on May 20, 2026 Marinetrans India Limited announced that they will report second half, 2026 results on May 20, 2026 Valuation Update With 7 Day Price Move • Feb 06
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹19.85, the stock trades at a trailing P/E ratio of 48.8x. Average trailing P/E is 19x in the Logistics industry in India. Total loss to shareholders of 17% over the past year. Buy Or Sell Opportunity • Feb 04
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 17% to ₹18.05. The fair value is estimated to be ₹14.70, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.1% over the last year. Earnings per share has grown by 2,922%. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹16.40, the stock trades at a trailing P/E ratio of 40.4x. Average trailing P/E is 19x in the Logistics industry in India. Total loss to shareholders of 32% over the past year. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹26.30, the stock trades at a trailing P/E ratio of 64.7x. Average trailing P/E is 21x in the Logistics industry in India. Total returns to shareholders of 5.2% over the past year. Buy Or Sell Opportunity • Dec 09
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to ₹18.90. The fair value is estimated to be ₹15.21, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.1% over the last year. Earnings per share has grown by 2,922%. Valuation Update With 7 Day Price Move • Dec 08
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹18.00, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 19x in the Logistics industry in India. Total loss to shareholders of 14% over the past year. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹16.00, the stock trades at a trailing P/E ratio of 40.9x. Average trailing P/E is 20x in the Logistics industry in India. Total loss to shareholders of 24% over the past year. Announcement • Nov 14
Marinetrans India Limited to Report First Half, 2026 Results on Nov 14, 2025 Marinetrans India Limited announced that they will report first half, 2026 results on Nov 14, 2025 Announcement • Sep 08
Marinetrans India Limited, Annual General Meeting, Sep 30, 2025 Marinetrans India Limited, Annual General Meeting, Sep 30, 2025, at 16:00 Indian Standard Time. New Risk • Jun 27
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 57% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 13% per year over the past 5 years. High level of non-cash earnings (57% accrual ratio). Market cap is less than US$10m (₹210.0m market cap, or US$2.45m). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Profit margins are more than 30% lower than last year (0.1% net profit margin). Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹18.85, the stock trades at a trailing P/E ratio of 73.9x. Average trailing P/E is 26x in the Logistics industry in India. Total loss to shareholders of 43% over the past year. New Risk • Mar 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). High level of non-cash earnings (34% accrual ratio). Market cap is less than US$10m (₹199.8m market cap, or US$2.33m). Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Profit margins are more than 30% lower than last year (0.3% net profit margin). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹14.55, the stock trades at a trailing P/E ratio of 57x. Average trailing P/E is 25x in the Logistics industry in India. Total loss to shareholders of 54% over the past year. Announcement • Sep 14
Marinetrans India Limited, Annual General Meeting, Sep 30, 2024 Marinetrans India Limited, Annual General Meeting, Sep 30, 2024. Announcement • Sep 04
Marinetrans India Limited Appoints Mr. Chahan Vinod Vora as an Additional Director and Announces Reconstitution of Certain Committees of the Board of Directors Marinetrans India Limited approved the appointment of Mr. Chahan Vinod Vora as an Additional Director (Category Non-Executive Independent Director) with effect from September 3, 2024. Expertise in conducting in-depth audits and devising successful improvement strategies. Methodically evaluated documents and systems and initiated corrections in compliance with established standards. Focuses on delivering high-quality results and producing exceptional work. Directorship in other companies: KRI Entertainment limited and India Home Loans Limited. Also the Board of Directors have approved the reconstitution of certain committees of the Board of Directors with effect from 03rd September 2024 as under: Reconstituted the Audit Committee of the Board of Directors as under: Chahan Vinod Vora, Non-Executive Independent Director as Chairman, Vani Ramesh Alva, Non-Executive Independent Director as Member and Arunkumar Hegde, Non-Executive Director as Member. Reconstituted the Stakeholders' Relationship Committee of the Board of Directors as under: Vani Ramesh Alva, Non-Executive Independent Director as Chairman, Arunkumar Hegde, Non-Executive Director as Member and Chahan Vinod Vora,Non-Executive Independent Director as Member. Reconstituted the Stakeholders' Relationship Committee of the Board of Directors as under: Vani Ramesh Alva, Non-Executive Independent as Director, Chairman Arunkumar Hegde, Non-Executive Director as Member and Chahan Vinod Vora Non-Executive Independent Director as Member. Announcement • Jul 04
Marinetrans India Limited Announces Resignation of Shobha Rustagi as Independent Director Marinetrans India Limited announced resignation of Shobha Rustagi as Independent Director. Reported Earnings • Jun 07
Full year 2024 earnings released: EPS: ₹0.33 (vs ₹1.79 in FY 2023) Full year 2024 results: EPS: ₹0.33 (down from ₹1.79 in FY 2023). Revenue: ₹1.06b (down 29% from FY 2023). Net income: ₹3.25m (down 79% from FY 2023). Profit margin: 0.3% (down from 1.0% in FY 2023). The decrease in margin was driven by lower revenue. Announcement • Apr 04
Tirajkumar Babu Kotian and Arunkumar Narayan Hegde acquired SEAHAUL LINES (INDIA) PRIVATE LIMITED from Marinetrans India Limited (NSEI:MARINETRAN) for INR 0.1 million. Tirajkumar Babu Kotian and Arunkumar Narayan Hegde acquired SEAHAUL LINES (INDIA) PRIVATE LIMITED from Marinetrans India Limited (NSEI:MARINETRAN) for INR 0.1 million on March 30, 2024.Tirajkumar Babu Kotian and Arunkumar Narayan Hegde completed the acquisition of SEAHAUL LINES (INDIA) PRIVATE LIMITED from Marinetrans India Limited (NSEI:MARINETRAN) for INR 0.1 million on March 30, 2024. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹35.00, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 27x in the Logistics industry in India. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ₹45.90, the stock trades at a trailing P/E ratio of 38.2x. Average trailing P/E is 28x in the Logistics industry in India. Board Change • Dec 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Shobha Rustagi was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
