Marc TechnocratsShare price, financial results, shareholding and management
- Market cap
- ₹248 cr
- Stock P/E
- 23.4peers 12.6
- Book value
- ₹40
- Price to book
- 3.58
- EV / operating profit
- 15.0
- Market cap to sales
- 3.55
- ROCE · FY26
- 29.1%
- ROE · FY26
- 21.5%
- ROE, 3-year average
- 23.1%
- Operating margin · FY26
- 19.3%peers 12.9%
- Sales growth, 3 years
- 51.6%
- Profit growth, 3 years
- 52.1%
- Debt to equity
- 0.00peers 0.13
- Borrowings
- ₹0.3 cr
- Interest cover
- 55.7×
- Cash from business / op. profit
- 17%
- Debtor days
- 65
- Pledged
- 0.00%
- Promoter holding
- 73.55%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 413
- High / low since listing
- ₹163 / ₹41
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Marc Technocrats share price chart
Close on 6 Nov 2026 · -1.45% on the day · Vol 4,800
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -8.2%
- 3 months
- +9.0%
- 6 months
- +54.1%
- Since IPO
- +53.8%
- Traded a day, 20 days
- ₹0.07 cr
- Taken for delivery
- 93%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +45% | +32% |
| 3 years, a year | +52% | +52% |
About Marc Technocrats: business, products and customers
Marc Technocrats is an engineering consultant that checks the building of national highways and other public works for government road agencies, and also prepares project reports and bid advice. Its shares trade on NSE Emerge.
Marc Technocrats works for government departments such as MoRTH, NHAI, NHIDCL, state Public Works Departments and the Railways. Its main job is supervision and quality control: acting as the agency's engineer on a highway contract, reviewing drawings, checking progress, quality and safety during construction and monitoring the road during maintenance. This made up 82.23% of FY25 revenue.
It also prepares detailed project reports for new roads and bridges, gives pre-bid advice to construction companies and works as a third-party techno-financial auditor, mostly on projects in Punjab. Work is won through open government tenders, and each contract usually needs a bank guarantee of 2.5% to 5% of its value.
Read more about the business
The company was formed in 2007 and is based in Gurgaon, with 181 people on the payroll in November 2025, 90 of them engineers and surveyors. It went public on NSE Emerge under a December 2025 offer document, which set aside ₹10.3 cr of new money for road survey vehicles and computers and ₹17.5 cr for working capital.
From the December 2025 offer document and the April 2025 CARE and Crisil rating notes.
Read the deeper study ↓In its favour
- Sales have grown very fast: 52% a year over three years.
- It earns a high return on the money it uses: ROCE 29% in FY26.
- It has little debt for its size: debt to equity 0.00.
- The promoters own a large part of the company: 73.55%.
To watch
- Work done on the ₹255.5 cr order book, including the older project report contracts from 2015 and 2016 (Offer document, p.149 and p.162).
- Purchase of 3D network survey vehicles and use of ₹17.5 cr of IPO money for working capital in FY26 and FY27 (Offer document, p.89, p.90 and p.99).
- The pending Gauhati High Court writ petition over an NHIDCL contract in which the company is a respondent (Offer document, p.290).
- Income tax summonses from the Delhi and Srinagar investigation offices, to which the company has replied (Offer document, p.290 and p.291).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Marc Technocrats revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months.
Marc Technocrats half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 22 | 32 | 37.53 |
| Expenses | 17 | 24 | 31.85 |
| Operating profit | 5 | 8 | 5.68 |
| OPM | 24.0% | 24.0% | 15.1% |
| Interest | 0 | 0 | 0.12 |
| Depreciation | 0 | 0 | 0.41 |
| Profit before tax | 5 | 8 | 6.51 |
| Net profit | 4 | 6 | 4.80 |
Marc Technocrats profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 17 | 18 | 19 | 20 | 26 | 48 | 69.73 |
| Expenses | 14 | 15 | 16 | 16 | 21 | 37 | 56.28 |
| Operating profit | 3 | 3 | 4 | 4 | 5 | 11 | 13.45 |
| OPM | 19.0% | 18.0% | 19.0% | 18.0% | 18.0% | 22.0% | 19.3% |
| Other income | 0 | 0 | 1 | 0 | 1 | 1 | 1.80 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0.26 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 0.78 |
| Exceptional and other items | · | · | · | 1 | · | -1 | · |
| Profit before tax | 3 | 3 | 4 | 4 | 5 | 10 | 14.21 |
| Tax rate | 33.3% | 33.3% | 25.0% | 25.0% | 40.0% | 20.0% | 25.7% |
| Net profit | 2 | 2 | 3 | 3 | 3 | 8 | 10.56 |
| EPS ₹ | 7.92 | 2.28 | 2.74 | 2.71 | 3.54 | 5.56 | 7.23 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Marc Technocrats profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 19.0% | 18.0% | 19.0% | 18.0% | 18.0% | 22.0% | 19.3% |
| Tax rate | 33.3% | 33.3% | 25.0% | 25.0% | 40.0% | 20.0% | 25.7% |
| ROCE | · | 26.1% | 28.6% | 24.2% | 25.0% | 38.5% | 29.1% |
| ROE | · | 18.2% | 22.2% | 18.8% | 15.8% | 32.0% | 21.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Marc Technocrats debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It has almost no borrowings. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Marc Technocrats balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 9 | 10 | 10 | 10 | 14 | 17.31 |
| Reserves | 7 | 3 | 5 | 7 | 11 | 15 | 51.93 |
| Net worth | 10 | 12 | 15 | 17 | 21 | 29 | 69.24 |
| Borrowings | 0 | 1 | 0 | 1 | 1 | 1 | 0.28 |
| Other liabilities | 4 | 3 | 3 | 4 | 4 | 8 | 15.06 |
| Total liabilities | 14 | 16 | 18 | 22 | 26 | 38 | 84.58 |
| Fixed assets | 1 | 2 | 2 | 4 | 6 | 8 | 4.44 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 6 | 7 | 8 | 0 | 3.45 |
| Other assets | 13 | 14 | 10 | 11 | 12 | 30 | 76.69 |
| Receivables | · | · | · | · | · | · | 12.43 |
| Inventory | · | · | · | · | · | · | 0 |
| Cash | · | · | · | · | · | · | 46.11 |
| Trade payables | · | · | · | · | · | · | 6.25 |
Marc Technocrats cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | · | · | 3 | 4 | 5 | 5 | 2.22 |
| Cash from investing | · | · | -6 | -4 | -5 | -13 | -31.89 |
| Cash from financing | · | · | -1 | 0 | 0 | 0 | 30.45 |
| Net cash flow | · | · | -4 | 0 | 0 | -8 | 0.78 |
| Capital spending | · | · | · | · | · | · | 0.50 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 143 | 111 | 91 | 105 | 84 | 70 | 65 |
| Cash conversion cycle | 143 | 111 | 91 | 105 | 84 | 70 | 65 |
| Working capital days | 108 | 78 | 84 | 64 | 38 | 41 | 50 |
Marc Technocrats peers and competitors
Listed SME companies in the same industryBy sales, Marc Technocrats is number 39 of the 86 listed SME companies in commercial services & supplies.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| ITCONS E-Solutions | 219 | 41.6 | 87.7 | 5.3 | 6.0% | 0.06 |
| EMA Partners India | 181 | 14.7 | 87.4 | 12.3 | 16.5% | 0.00 |
| Plada Infotech Services | 10 | 5.8 | 72.8 | 1.7 | 7.2% | 0.75 |
| Propshop Events and Exhibitions | 102 | 12.8 | 70.3 | 8 | 15.8% | 0.01 |
| Marc Technocrats | 248 | 23.4 | 69.7 | 10.6 | 19.3% | 0.00 |
| HRH Next Services | 30 | 6.1 | 68.2 | 4.9 | 18.4% | 0.43 |
| Encompass Design India | 349 | 26.8 | 68.1 | 13 | 30.5% | 0.16 |
| Icon Facilitators | 49 | 11.1 | 64.2 | 4.4 | 10.0% | 0.02 |
| Continental Seeds and Chemicals | 15 | 14.9 | 61.5 | 1 | 4.9% | 0.09 |
| Falcon Technoprojects India | 6 | 2.1 | 57.3 | 3 | 8.5% | 1.33 |
| Dhara Rail Projects | 189 | 12.3 | 56.7 | 15.4 | 35.1% | 0.18 |
| Median of the 10 others | 76 | 12.6 | 68.1 | 5.1 | 12.9% | 0.13 |
Marc Technocrats shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
Marc Technocrats shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|
| Promoters | 73.55% | 73.55% | 73.55% |
| Foreign investors (FIIs) | 0.27% | 3.28% | 3.69% |
| Indian institutions (DIIs) | 1.38% | 4.99% | 4.96% |
| HNIs (over ₹2 lakh each) | - | 8.19% | 9.75% |
| Small holders (up to ₹2 lakh) | - | 7.86% | 5.71% |
| Companies and others | - | 2.13% | 2.34% |
| Number of shareholders | 1,502 | 547 | 413 |
The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.
Marc Technocrats study: the business from its own documents
Read from 3 of the company's own documentsMarc Technocrats so far
From the company's own record
- August 2007Company formed
- 24 Dec 2025Listed on NSE Emerge at ₹93
- 26 Aug 2026An order announced
- 27 Aug 2026An order announced
- 3 Sept 2026An order announced
- 30 June 2026Promoters at 73.55%
- 17 Sept 2026Highest close since listing, ₹156.00
Marc Technocrats key facts from the filings
Each figure with the document it comes from
- Order book
- ₹255.5 cr
- Unexecuted work at 30 September 2025, more than five times FY25 revenue.Offer document, p.162
- Ongoing contracts
- ₹401.0 cr awarded
- Total value of ongoing contracts, of which ₹145.6 cr had been done by September 2025; the oldest awards date from 2015.Offer document, p.149 and p.161
- Supervision work
- 82.23%
- Share of FY25 revenue from supervising construction; project reports were 9.45% and pre-bid advice 5.03%.Offer document, p.166
- FY25 revenue
- ₹47.8 cr
- Up 83.40% from ₹26.0 cr in FY24, with profit after tax of ₹7.5 cr against ₹3.5 cr.Offer document, p.166 and p.279
- Half year to September 2025
- ₹32.2 cr
- Revenue in the six months, with an EBITDA margin of 24.13% against 21.68% for FY25.Offer document, p.105
Show 5 more facts
- Top ten customers
- 51.54%
- Share of revenue in the six months to September 2025, down from 75.14% in FY23.Offer document, p.34
- Repeat customers
- 84.30%
- Share of revenue in the six months to September 2025 from customers who had also given work the year before.Offer document, p.168
- Four main states
- 54.30%
- Share of revenue to September 2025 from Haryana, Uttar Pradesh, Bihar and Maharashtra.Offer document, p.37
- Bank guarantees
- ₹12.2 cr
- Guarantees given to clients at September 2025, up from ₹3.4 cr in FY23, backed by fixed deposits.Offer document, p.28 and p.96
- Credit ratings
- Withdrawn April 2025
- CARE (B+) and Crisil (B) ratings had been in the issuer not cooperating category; both were withdrawn at the company's request.CARE rating note, April 2025, p.1; Crisil rating rationale, April 2025, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says it had an order book of ₹255.5 cr at 30 September 2025 and cautions that contracts in it may be adjusted, cancelled or suspended. The offer document plans to spend IPO money on 3D network survey vehicles and computers, and to put ₹5 cr into working capital in FY26 and ₹12.5 cr in FY27, including fixed deposits behind the bank guarantees that tenders require.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Marc Technocrats earns fees for supervising and planning government road projects, using its engineers rather than machines, and has grown quickly as it won more highway contracts.
Its weak spots are prices set by open tenders, heavy reliance on government road spending, and some older contracts in its order book that have moved slowly.
WatchCan it set its own prices?Fees are set by bidding in government tenders against many other consultants, so margins depend on how keenly rivals bid.
AverageHow strong is it against rivals?A long record on national highway jobs lets it qualify for many tenders. Many organised and unorganised firms offer the same services, some with more resources.
AverageWho are its customers?Almost all customers are government road and railway agencies, and most of the work comes from customers who return. A small group of clients still brings in about half of revenue.
AverageDoes it need a lot of money?It needs few machines, but each contract needs a bank guarantee backed by fixed deposits, so more contracts tie up more cash.
StrongCan it keep finding new work?Work already won covers several years of revenue, though some older contracts in it have moved slowly.
AverageDo good and bad years swing a lot?The company says its business is not seasonal, but it depends on how much the government spends on roads each year.
Who runs Marc Technocrats?
Promoters, directors and officers; tap a name for the background
HKHitender KumarPromoter, Chairman and Managing Director · holds 68.32% post-IPO
Director since the company was formed in 2007 and Managing Director from 11 January 2024 for five years. Master of Engineering, Civil, from the University of Punjab, with over 15 years in construction supervision, project management and highway material evaluation. Sold 9,09,600 shares in the offer for sale at the IPO; also a director of Marc Fintech.
Offer document, p.79, p.201 and p.203SRSuman RatheePromoter and Executive Director · holds 5.23% post-IPO
Executive Director since 20 August 2013. Master of Science in Zoology from the University of Rajasthan, with over 10 years in business administration; looks after administration. The offer document states that Suman Rathee is the spouse of Hitender Kumar and the daughter of Norang Rai Loohach.
Offer document, p.79, p.202, p.204 and p.205NRNorang Rai LoohachPromoter and Non-Executive Director
Director since 18 November 2024. Bachelor of Engineering, Civil, from Kurukshetra University, with more than 39 years in government service as a Sub-divisional Officer in the Irrigation and Water Resource Department.
Offer document, p.202 and p.204VKVijay KumarWhole Time Director
Joined as general manager, operations in August 2007 and became Whole Time Director on 11 September 2024. Graduate Diploma in Engineering (Civil) from Pacific Institute of Engineering and Management, with more than 16 years in civil engineering operations.
Offer document, p.201, p.202 and p.204RSRamesh SahIndependent Director
Independent Director since 18 November 2024. Chartered Accountant with more than 5 years in finance, accounting, auditing and taxation.
Offer document, p.203 and p.204PSParamvir SinghIndependent Director
Independent Director since 18 November 2024. Bachelor of Arts from Maharshi Dayanand University, Rohtak, with more than 20 years in the construction material trade.
Offer document, p.203 and p.204Marc Technocrats latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 30 June 2026: promoters unchanged at 73.55%.
- 3 Sept 2026: an order announced.
- 27 Aug 2026: an order announced.
Marc Technocrats announcements
35 on record, latest first; each opens the filing on the exchange
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- ResignationOf Mr Rohit Kumar as Chief Financial Officer of the company w.e.f. August 05, 2026PDF ↗
- Resignation of Director/KMP/SMPResignation of Director/KMP/SMPPDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Reconciliation of Share Capital Audit Report under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018 for Quarter Ended June 30, 2026PDF ↗
- Awarding of order(s)/contract(s)Awarding of order(s)/contract(s)PDF ↗
- Awarding of order(s)/contract(s)Awarding of order(s)/contract(s)PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on July 28, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
Marc Technocrats annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 25 April 2025 ↗read
- 8 April 2025 ↗read
Marc Technocrats share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Marc Technocrats' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,73,13,383 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY20 (₹7.92) and FY21 (₹2.28) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Marc Technocrats
What does Marc Technocrats do?
Marc Technocrats is an engineering consultant that checks the building of national highways and other public works for government road agencies, and also prepares project reports and bid advice. Its shares trade on NSE Emerge.
What is the share price of Marc Technocrats?
₹143 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Marc Technocrats?
₹248 cr at the close on 6 Nov 2026, on 1,73,13,383 shares.
What is the P/E of Marc Technocrats?
23.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Marc Technocrats' revenue and profit?
Revenue ₹70 cr and profit after tax ₹11 cr in FY26.
Who are the promoters of Marc Technocrats?
Hitender Kumar, Suman Rathee, Norang Rai Loohach; promoters held 73.55% at 30 June 2026.
What was the IPO price of Marc Technocrats?
₹93 a share; it listed on 24 Dec 2025.
What is Marc Technocrats' website?
www.mtplonline.in
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Every listed SME company in Commercial Services & Supplies → · SME companies listed in 2025 →
Built from 2 credit rating notes, 1 offer document, 35 exchange announcements, 3 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.