Marg Techno Projects

MTPL.BO

Financial - Credit Services · Financial Services

Price

₹19.17

+0.37 (+1.97%)

Market Cap

₹495.1M

Exchange

Bombay Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Jul 26, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+82.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 14.1M (2022) → 25.8M (2026)

Marg Techno Projects Ltd. is a non-banking financial company, which engages in the provision of financial solutions to their customers. Its products include Gold Loan and Personal Loan. The company was founded by Madhavan Kakkat Nair on June 15, 1993, and is headquartered in Surat, India.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+200.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+304.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Cash Position

Cash flow positive

$592M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Marg Techno Projects grew revenue 200% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

46.6%

Healthy — 46.6% gross margin

Operating Margin

23.5%

Excellent — 23.5% operating margin

ROCE

2.0%

Weak — 2.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+84.9%

Fast-growing sales (84.9% YoY)

EPS YoY

+163.1%

Earnings growing fast (163.1% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

Weak — only 0% of profit becomes cash

FCF Margin

0.0%

Thin free cash flow (0.0%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.78

Moderate — manageable debt (0.78)

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

41.8x

Pricey — P/E 41.8

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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