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Marsons Limited (MARSONS)

₹122.73 -4.59% last close, 16 Oct

📊 NSE: MARSONS 🏢 Electrical Equipment & Parts 📢 Latest filing: 06 Oct 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Marsons' revenue was ₹49.3 Cr (+4.7% year on year, -46.8% on the previous quarter), and net profit ₹5.9 Cr (-26.2% year on year); the operating margin was 14.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹49.3	+4.7%	-46.8%
Operating profit	₹7.2	-1.1%	-62.1%
Net profit	₹5.9	-26.2%	-73.8%
EPS (₹)	0.34	-27.7%	-74.0%
Operating margin	14.7%	—	—

Full quarterly financials → Results calendar →

MARSONS delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 23.37% of the MARSONS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 32.73%. That is close to its usual level. 28 bulk or block deals were reported in MARSONS in the last 60 days: ₹239 Cr bought and ₹230 Cr sold.

23.37%Delivery, 16 Oct

32.73%Own 20-session average

0.8×Volume vs its average

₹122.73NSE close · -4.59%

Delivery in the last 5 sessions: 33.0% · 28.3% · 28.9% · 31.2% · 23.4%

Date	Side	Counterparty	Value	Price	Quantity	Type
15 Oct	Sell	Prognosis Securities Pvt. Ltd	₹22.66 Cr	₹128.91	1,757,807	Bulk
15 Oct	Buy	Prognosis Securities Pvt. Ltd	₹21.67 Cr	₹128.90	1,681,305	Bulk
15 Oct	Sell	Arihant Capital Markets Limited	₹20.31 Cr	₹129.22	1,571,728	Bulk
15 Oct	Buy	Arihant Capital Markets Limited	₹20.25 Cr	₹128.84	1,571,728	Bulk
14 Oct	Sell	Prognosis Securities Pvt. Ltd	₹17.30 Cr	₹129.35	1,337,410	Bulk

Delivery across the market →All bulk and block deals →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Marsons Partners with Cleanhill to Scale Transformer Manufacturing in North America

🔵 WATCH ⭐ 7/10

EXPANSION 📅 06 Oct 2026, 04:01 PM

Marsons Limited has announced its intent to form a joint venture with New York-based private equity firm Cleanhill Partners to scale power transformer distribution, service, and manufacturing across the US and Canada. The partnership targets North America's transformer supply deficit, where lead times currently exceed 24 months. Marsons is currently executing US orders for GSUs up to 200 MVA, while expanding its domestic manufacturing capacity from 12,000 MVA to 26,000 MVA at its 45,000 sq meter facility. However, definitive JV documentation and commercial terms remain pending execution.

Intent to form JV with Cleanhill Partners targeting US and Canadian power transformer markets facing lead times >24 months
Marsons operates a 45,000 sq meter facility with current capacity of 12,000 MVA and an ongoing expansion to 26,000 MVA
Currently executing US renewable and utility orders, including GSUs up to 200 MVA and units rated from 11 kV to 345 kV and beyond
Definitive Joint Venture Agreement and financial commitments are yet to be executed

💡 Track the execution of the definitive Joint Venture Agreement, capital commitment details, and subsequent export order inflows to assess revenue impact on Marsons' TTM base of ₹248 Cr.

Marsons Approves US Joint Venture with Cleanhill Partners for North American Transformer Market

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 06 Oct 2026, 03:58 PM

Marsons Limited's Board has approved the formation of a Joint Venture (LLC in the United States) with Cleanhill Partners. The venture aims to import, market, sell, distribute, and service Marsons transformers across the US and Canada, with future plans to manufacture locally. Financial terms, equity shareholding, and capital commitments were not disclosed in the filing. CEO Harshvardhan Kotia has been authorised to negotiate and execute the final Joint Venture Agreement.

Board approved US-based Limited Liability Company JV with Cleanhill Partners on October 06, 2026
Targets distribution, servicing, and eventual local manufacturing across 2 countries: United States and Canada
Marsons generated TTM revenue of Rs 248 Cr and TTM PAT of Rs 44 Cr prior to this expansion
CEO Harshvardhan Kotia authorised to finalise and execute the JV Agreement
Commercial terms, investment amount, and equity split are not disclosed

💡 Track subsequent filings for the execution of the definitive Joint Venture Agreement, capital commitment details, and equity ownership split.

Marsons Shareholders Approve Resolutions 1 to 3 at Annual General Meeting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Oct 2026, 02:52 PM

Marsons Limited held its Annual General Meeting on September 30, 2026, via Video Conferencing/OAVM. Shareholders approved all three agenda items (Resolutions No. 1 to 3) with the requisite majority. The company submitted its combined voting results and the Scrutinizer's Report in accordance with Regulation 44(3) of the SEBI LODR Regulations.

AGM successfully held on September 30, 2026 at 2.00 P.M.
Resolutions No. 1 to 3 approved with requisite majority
Filing submitted under Regulation 44(3) of SEBI LODR Regulations on October 1, 2026

💡 Track the upcoming Q2 FY27 earnings results and operational performance against the company's high valuation multiples (P/E of 335.9).

Marsons Appoints Former NTPC Green Energy CEO Rajiv Gupta as Independent Director

🟢 POSITIVE ⭐ 4/10

MANAGEMENT 📅 16 Sep 2026, 03:39 PM

Marsons Limited has appointed Mr. Rajiv Gupta as an Additional Independent Director effective September 16, 2026. Mr. Gupta brings over 35 years of power sector experience, having previously served as Chief Executive Officer of NTPC Green Energy Limited and NTPC Renewable Energy Limited. The company is currently operating at a TTM revenue of ₹155 Cr with a market cap of ₹7,709 Cr and has recently approved capacity expansion to the 400 kV / 500 MVA class. This high-profile induction aims to strengthen board governance and assist in scaling its transformer business in the renewable space.

Appointment of Mr. Rajiv Gupta (DIN: 09715290) as Additional Independent Director effective September 16, 2026
Appointee brings over 35 years of industry experience, including roles as CEO of NTPC Green Energy and NTPC Renewable Energy
Company highlights recent board approval for capacity expansion to 400 kV / 500 MVA class
Current manufacturing facility is type-tested up to 160 MVA / 220 kV with an impulse lab rated at 1,600 kV / 80 kJ

💡 Track subsequent shareholder approvals for the director appointment and monitor progress updates on the approved 400 kV / 500 MVA capacity expansion.

Marsons Appoints Former NTPC Green CEO Rajiv Gupta as Independent Director for 5-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 16 Sep 2026, 03:38 PM

Marsons Limited has appointed Mr. Rajiv Gupta as an Additional Non-Executive Independent Director for a 5-year term starting September 16, 2026, subject to shareholder approval. Mr. Gupta brings over 35 years of experience in the power and renewable energy sectors, having previously served as CEO of NTPC Green Energy Limited and NTPC Renewable Energy Limited. The appointment strengthens the board's sector expertise at a time when Marsons trades at a market cap of Rs 7,709 crore against TTM revenue of Rs 155 crore.

Rajiv Gupta appointed as Additional Non-Executive Independent Director effective September 16, 2026
Appointed for a tenure of 5 years, subject to shareholder approval
Candidate brings over 35 years of power and renewable energy sector experience
Former CEO of NTPC Green Energy Limited and NTPC Renewable Energy Limited

💡 Track the upcoming shareholder voting resolution to confirm the appointment, and monitor whether strategic board guidance translates into renewable sector order book expansion.

Marsons Sets Cut-Off Date as 23-Sep-2026 for 49th Annual General Meeting

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 01:40 PM

Marsons Limited has announced the schedule and procedural dates for its 49th Annual General Meeting (AGM), to be held on 30 September 2026 via video conferencing. The cut-off date to determine eligible shareholders for e-voting has been fixed as 23 September 2026. The register of members and share transfer books will remain closed from 24 September 2026 to 30 September 2026. Remote e-voting will take place between 27 September and 29 September 2026.

49th AGM scheduled for 30 September 2026 at 2:00 PM IST via VC/OAVM
Shareholder cut-off date for e-voting established as 23 September 2026
Book closure period runs from 24 September 2026 to 30 September 2026 (both days inclusive)
Remote e-voting window open from 27 September 2026 (9:00 AM) to 29 September 2026 (5:00 PM)

💡 Shareholders looking to exercise voting rights should ensure shareholding is in place on or before the 23 September 2026 cut-off date. Track the AGM notice for key agenda resolutions.

Marsons Issues Notice for 49th AGM on September 30, 2026; Cut-Off Date Sept 23

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 01:22 PM

Marsons Limited has issued the notice for its 49th Annual General Meeting (AGM), scheduled for September 30, 2026, via Video Conferencing. Key agenda items include the adoption of audited financial statements for FY26, the re-appointment of retiring director Mr. Subhash Kumar Agarwala, and ratifying the cost auditor's remuneration of Rs 35,000 for FY27. The cut-off date for e-voting eligibility is set for September 23, 2026, with remote e-voting running from September 27 to September 29, 2026.

49th Annual General Meeting scheduled for September 30, 2026, at 2:00 PM IST via VC/OAVM
Cut-off date fixed as September 23, 2026, to determine voting rights for remote e-voting
Remote e-voting window opens September 27, 2026 (9:00 AM) and closes September 29, 2026 (5:00 PM)
Book closure period scheduled from September 24, 2026, to September 30, 2026
Remuneration of Rs 35,000 per annum proposed for Cost Auditor M/s D. Radhakrishnan & Co. for FY27

💡 Eligible shareholders as of September 23, 2026, can participate in voting on routine ordinary and special resolutions during the remote e-voting period from September 27 to September 29, 2026.

Rs 5.93 Cr PAT in Q1; Marsons Secures $5M US Order and Expands to 400kV Class

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 05:19 PM

Marsons reported a flat YoY revenue growth of 4.1% to Rs 50.01 Cr for Q1 FY27, while PAT declined 26% YoY to Rs 5.93 Cr due to supply chain disruptions and higher input costs. Sequentially, performance saw a sharp decline from Q4 FY26 (Revenue Rs 92.65 Cr, PAT Rs 22.62 Cr). However, the company secured its first US export order worth ~$5 million (approx. 26% of TTM revenue) and is expanding capacity to the 400kV class. Renewable energy projects now constitute over 50% of the current order book, supported by a recent NTPC Renewable Energy empanelment.

Q1 FY27 Revenue stood at Rs 50.01 Cr, a marginal increase from Rs 48.02 Cr in Q1 FY26.
PAT for the quarter fell to Rs 5.93 Cr from Rs 8.03 Cr YoY, impacted by a spike in copper and transformer oil prices.
Secured first-ever US export orders totaling ~$5 million at margins significantly higher than domestic averages.
Renewable energy segment now accounts for more than 50% of the current order book.
Capacity expansion underway to manufacture 500 MVA transformers in the 400kV class, up from current EHV capabilities.

💡 Monitor the recovery in operating margins in Q2 as supply chain disruptions normalize and track the execution timeline for the new 400kV capacity expansion.

Rs 49.26 Cr Revenue in Q1; Net Profit Declines 26% YoY to Rs 5.93 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 03:56 PM

Marsons Limited reported a modest 4.7% YoY revenue growth to Rs 49.26 Cr for Q1 FY27, but faced a significant 26% YoY decline in net profit to Rs 5.93 Cr. Sequentially, the performance was weak, with revenue dropping nearly 47% from the Rs 92.26 Cr recorded in Q4 FY26. The company has utilized Rs 74.37 Cr of the Rs 80.25 Cr raised via preferential allotment in 2024 for working capital. Despite the profit dip, the balance sheet remains bolstered by a Rs 49.80 Cr asset revaluation conducted in the previous fiscal year.

Revenue from operations increased 4.7% YoY to Rs 49.26 Cr from Rs 47.03 Cr.
Net profit declined 26.1% YoY to Rs 5.93 Cr compared to Rs 8.03 Cr in Q1 FY26.
Sequential revenue fell sharply by 46.6% from Rs 92.26 Cr in the preceding quarter (Q4 FY26).
Utilized Rs 74.37 Cr out of Rs 80.25 Cr raised through preferential allotment for working capital needs.
Earnings Per Share (EPS) for the quarter dropped to Rs 0.34 from Rs 0.47 YoY.

💡 Investors should monitor the company's ability to stabilize sequential revenue volatility and manage margins, especially given the high P/E ratio of 201.4. Watch for the utilization of the remaining Rs 5.88 Cr from the preferential issue and its impact on order book execution.

July 16, 2026: Resignation of Independent Director Mr. Mohammad Tinku and Committee Reconstitution

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 16 Jul 2026, 02:17 PM

Mr. Mohammad Tinku has resigned as a Non-Executive Independent Director of Marsons Limited, effective July 16, 2026, citing personal commitments. Consequently, he will cease to be a member of five key board committees, including Audit and Risk Management. The company has already reconstituted these committees by appointing Mr. Surojit Ghosh, a Non-Executive Director, to fill the vacancies. This transition occurs as the company maintains a TTM revenue of ₹162 Cr and a PAT of ₹25 Cr.

Resignation of Mr. Mohammad Tinku effective from the close of business hours on July 16, 2026
Reconstitution of 5 board committees including Audit, NRC, and Risk Management
Mr. Surojit Ghosh, Non-Executive Director, appointed as a member to all 5 committees effective July 15, 2026
Confirmation provided that there are no other material reasons for the resignation

💡 Investors should monitor the future appointment of a new Independent Director to ensure the board maintains a healthy ratio of independent members in line with SEBI corporate governance norms.

Resignation of Independent Director Mohammad Tinku Effective July 16, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 15 Jul 2026, 03:09 PM

Mr. Mohammad Tinku has resigned as an Independent Director of Marsons Limited, effective July 16, 2026, citing personal commitments. As a result, he will vacate his positions in five key board committees, including the Audit and Risk Management Committees. The board has already approved the reconstitution of these committees, appointing Mr. Surojit Ghosh (Non-Executive Director) to fill the vacancies. This is a procedural governance update and does not impact the company's financial operations, which reported a TTM revenue of ₹162 Cr.

Resignation of Mr. Mohammad Tinku as Independent Director effective July 16, 2026.
Cessation of membership in 5 committees: Audit, NRC, Stakeholders Relationship, Risk Management, and CSR.
Appointment of Mr. Surojit Ghosh, Non-Executive Director, to all 5 committees effective July 15, 2026.
Confirmation provided that there are no other material reasons for resignation beyond personal commitments.
Company maintains TTM Revenue of ₹162 Cr and TTM PAT of ₹25 Cr as per latest available data.

💡 Investors should monitor future filings for the appointment of a new Independent Director to ensure the board maintains the regulatory balance of independent versus non-independent members.

Marsons Limited Submits Routine Q1 FY27 Dematerialization Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 10:46 AM

Marsons Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document confirms that share certificates received for dematerialization between April 1, 2026, and June 30, 2026, have been processed as per regulatory requirements. This is a standard administrative filing required for all listed companies in India. There are no financial figures or operational updates included in this specific disclosure.

Covers the quarterly period from 01.04.2026 to 30.06.2026
Complies with Section 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Confirmation provided by the Registrar and Transfer Agent (RTA) of the company
Filing submitted to both BSE and NSE on 13.07.2026

💡 This is a routine procedural filing. Investors should monitor the company's upcoming quarterly financial results for actual business performance updates.

₹17.94 Cr Order Win for Marsons Limited from S.T. Electricals Pvt. Ltd.

🟢 POSITIVE ⭐ 6/10

OTHER 📅 03 Jul 2026, 12:48 PM

Marsons Limited has secured a domestic purchase order worth ₹17.94 crore (including GST) for the supply of 10 MVA Power Transformers. The contract was awarded by S.T. Electricals Pvt. Ltd. and is scheduled for execution within a 6-month timeframe. This order represents approximately 11% of the company's TTM revenue of ₹162 crore, providing healthy revenue visibility for the upcoming two quarters.

Total order value stands at ₹17,93,60,000 (including GST).
Execution timeline is set for 6 months from the date of the award.
The order is for the supply of 10 MVA Power Transformers to a domestic entity.
Order value represents ~11.07% of the company's TTM revenue of ₹162 Cr.

💡 Investors should monitor the company's quarterly revenue in the next two reporting cycles to ensure timely execution and margin maintenance on this contract.

Marsons Limited Announces Trading Window Closure from July 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Jun 2026, 03:23 PM

Marsons Limited has officially notified the stock exchanges regarding the closure of its trading window starting July 1, 2026. This closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives until 48 hours after the financial results are declared. The company will announce the specific date for the board meeting to approve these results separately.

Trading window closure commences on July 1, 2026
Closure is related to the unaudited financial results for the quarter ended June 30, 2026
Restriction ends 48 hours after the official announcement of financial results
Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 This is a routine regulatory filing and requires no immediate action from general investors. Shareholders should monitor future announcements for the specific date of the Q1 financial result declaration.

Marsons to Double Capacity to 26,000 MVA and Expand into 400 kV Transformers

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 18 Jun 2026, 12:14 PM

Marsons Limited has announced a major strategic expansion, upgrading its product range from 220 kV to 400 kV/500 MVA class power transformers. This move is expected to more than double the company's annual manufacturing capacity from 12,000 MVA to 26,000 MVA. While the board has approved the expansion, the specific capital expenditure requirements are yet to be finalized. Additionally, the company reported its audited FY26 financial results with an unmodified auditor's opinion, signaling stable reporting standards.

Product range expansion approved to include 400 kV/500 MVA class power transformers.
Annual manufacturing capacity projected to increase from 12,000 MVA to 26,000 MVA.
Audited financial results for FY ended March 31, 2026, received an unmodified opinion from auditors.
Re-appointment of M/s HMCG & Associates as Internal Auditors and M/s D. RADHAKRISHNAN & CO. as Cost Auditors for FY 2026-27.
Infrastructure for the 400 kV class is currently being commissioned to facilitate the capacity surge.

💡 Investors should watch for upcoming disclosures regarding the capital expenditure (Capex) funding plan and the timeline for the new capacity to go live. The shift to 400 kV transformers allows the company to bid for larger-scale utility projects, potentially improving long-term margins.

View All MARSONS Announcements on Live Market Tracking →