This microcap stock is a market leader that enjoys a clear leadership with 30-35 percent share in Indian highway maintenance. The company’s strong order book stands at 1.8 times or 81 percent higher than the market capitalization.
Stock Performance
Markolines Pavement Technologies rose over 6 percent in Friday’s trading session and made a high of Rs 130.50 per share compared to its previous closing price of Rs 122.30 per share.
Company Overview
Holding a strong 30-35 percent share, Markolines Pavement Technologies Limited, specializes in comprehensive highway operations and maintenance services. With a pan-India presence, the company also engages in infrastructure operations, including road construction and maintenance.
Core Services
The company provides highway maintenance services, which include preventive maintenance, major maintenance and repairs (MMR), and rigid pavement maintenance. It also offers specialized maintenance services such as micro surfacing and cold in-place recycling (CIPR). Additionally, the company is involved in specialized construction services, including soil stabilization and tunneling.
Order Book
The company’s total order book stands at Rs 453 crore, which is approximately 1.8x or 81 percent higher than its market capitalization of Rs 250 crore.
Segment-wise, the Specialized Construction Activities business received majority orders worth Rs 300 crore. The remaining Rs 152 crore comes from the Major Maintenance segment. Apart from this, the company has Rs. 500 crore of work orders under discussion.
The company has completed 86 projects in Major Maintenance and 20 projects in Specialized Construction Activities so far this year.
Customer Base
Markolines Pavement Technologies has a strong clientele base with well-known players like Larson & Toubro, Ashoka Buildcon, Engineers India, MMRDA, Public Works Department, Highway Concessions, Surat Municipal Corporation, and many others.
Financial Performance
When looking at the financials, the company reported a 19 percent decline in revenue from Rs 131 crore in H1 FY24 to Rs 106 crore in H1 FY25. The net profits saw a 33 percent decrease from Rs 6 crore to Rs 4 crore during the same period.
Written by Shwetha Sairam
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