Markolines Pavement Technologies Ltd (MARKOLINES) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Markolines Pavement Technologies Ltd stock ₹176, price ₹164, upside +7.0%, quality 46 out of 100. Rating: fairly valued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range ₹57.05 – ₹262.16 · fair‑value band ₹78.04 – ₹256.07 · the ₹164.35 price screens below the ₹175.78 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Markolines Pavement Technologies Ltd (MARKOLINES) currently trades at ₹164.35, while our model-based Fair Value estimate is ₹175.78, so the stock looks roughly fairly valued today (gap 6.5%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹282.55 per share, and 14 of the 25 models we run sit above the ₹164.35 price.
Bear case: the Asset-Based group reads lowest at ₹33.77, and 11 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹78.04 (bear) to ₹256.07 (bull), the price of ₹164.35 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 46/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Markolines Pavement Technologies Ltd reported revenue of ₹3.5B in FY2026 versus ₹1.5B in FY2022, a compound +23.9%/yr. Reported net income was ₹262M in FY2026, compounding +26.9%/yr from FY2022.
Key figures
Market cap ₹3.6B (≈ $38.6M) Micro · P/E ratio 13.5 · P/S ratio 1.03 · EPS (TTM) ₹12.18 · Dividend yield 0.8% · Net margin 7.6% · Return on equity 13.8% · Return on assets (EBIT) 12.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 13% below its 52-week high and 23% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −33% fair-value upside, at 7%, MARKOLINES screens cheaper than that median.
Fair Value models
Bear₹78.04Fair Value ₹175.78Bull₹256.07
Price ₹164.35 · Upside +7.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹7.41 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+13.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.4%
Start year 2021 (pandemic)
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+27.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+26.3%
Dividend (yield on the price)0.8%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.9% → 10%
Growth Forecast
A lot of optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
more than +80 %
Yearly growth needed for the next five years to justify today's price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Construction & Engineering · 19 stocks
Beats the industry median on 11/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score46 · Above median
Fair Value upside+7.0% · Above median
Profitability
Return on equity (12 months)13.8% · Top 25%
Return on assets7.7% · Top 25%
Net margin (12 months)7.6% · Top 25%
Operating margin (12 months)10.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)4.3% · Above median
Balance sheet
Debt / equity0.05× · Below median
Valuation Multiplesvs Construction & Engineering median · lower = cheaper
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Is Markolines Pavement Technologies Ltd (MARKOLINES) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of ₹175.78 versus a price of ₹164.35, about +7% upside (fairly valued).
What is the fair value of MARKOLINES?
Our model-based fair value for Markolines Pavement Technologies Ltd is ₹175.78 (as of Nov 3, 2026), built from audited fundamentals. The current price: ₹164.35.
What is the quality score of MARKOLINES?
Markolines Pavement Technologies Ltd has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Markolines Pavement Technologies Ltd (MARKOLINES)?
Our model-based price target is the fair value of ₹175.78 (as of Nov 3, 2026) from 25 valuation models. Cautious scenario ₹78.04, optimistic scenario ₹256.07. It is a calculation from audited fundamentals, not an analyst target.
What is the Markolines Pavement Technologies Ltd stock forecast for 2026?
Our models put fair value at ₹175.78, about +7% upside versus a price of ₹164.35 (fairly valued). Cautious scenario ₹78.04, optimistic scenario ₹256.07. The calculation is refreshed regularly with new filings.
What is the revenue of Markolines Pavement Technologies Ltd (MARKOLINES)?
Markolines Pavement Technologies Ltd reported trailing-twelve-month revenue of about ₹3.5B (latest available figure, as of Nov 3, 2026).
Does Markolines Pavement Technologies Ltd pay a dividend?
Markolines Pavement Technologies Ltd currently shows a dividend yield of 0.85% relative to its recent price (as of Nov 3, 2026).
How much is the dividend of Markolines Pavement Technologies Ltd (MARKOLINES)?
Markolines Pavement Technologies Ltd has a dividend yield of 0.8%.
What growth is priced into Markolines Pavement Technologies Ltd (MARKOLINES)?
For today's price to be fair in a discounted-cash-flow model, Markolines Pavement Technologies Ltd would have to grow free cash flow by more than 80 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.4 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of MARKOLINES use?
Our models discount Markolines Pavement Technologies Ltd at 12.4 %: a base by market capitalisation (nano), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Markolines Pavement Technologies Ltd that is more than 80 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Markolines Pavement Technologies Ltd (MARKOLINES) delivered so far?
Over the past 5 years revenue at Markolines Pavement Technologies Ltd grew +22.4 % a year. The price currently implies free-cash-flow growth of more than 80 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
What is the free cash flow yield of Markolines Pavement Technologies Ltd (MARKOLINES)?
The free-cash-flow yield on the price is 0.25 %: that much free cash flow Markolines Pavement Technologies Ltd produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Markolines Pavement Technologies Ltd (MARKOLINES)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Markolines Pavement Technologies Ltd it is ₹175.78 per share (as of Nov 3, 2026), against a price of ₹164.35. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Markolines Pavement Technologies Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, MARKOLINES trades below its calculated fair value: price ₹164.35, fair value ₹175.78, a gap of about +7% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MARKOLINES?
No. The price is what the market pays today (₹164.35); the fair value is what the company's own numbers justify (₹175.78). For Markolines Pavement Technologies Ltd the two are ₹11.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Markolines Pavement Technologies Ltd worth?
The market values Markolines Pavement Technologies Ltd at about ₹3.6B (market capitalisation, as of Nov 3, 2026). Per share that is ₹164.35; our models calculate a fair value of ₹175.78 per share.
What do the bullish and bearish scenarios say about MARKOLINES?
Our models span a range for Markolines Pavement Technologies Ltd: cautious scenario ₹78.04, base ₹175.78, optimistic ₹256.07 per share (as of Nov 3, 2026, price ₹164.35). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MARKOLINES?
Markolines Pavement Technologies Ltd trades at a price-to-earnings ratio of 13.5 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹175.78 is built from several models across several years. Median P/E at fiscal year-end, 5 fiscal years (2022 to 2026), reported earnings: 13.3. Other multiples: P/B 1.8, P/S 1.0, EV/EBITDA 7.6.
How solid is the balance sheet of Markolines Pavement Technologies Ltd (MARKOLINES)?
Balance-sheet figures for Markolines Pavement Technologies Ltd (as of Nov 3, 2026): return on equity 13.8%, debt of 0.05 per unit of equity. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is MARKOLINES from its 52-week high?
Markolines Pavement Technologies Ltd trades at ₹164.35, about 13% below its 52-week high of ₹188.15 and 23% above the low of ₹133.60 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of ₹175.78 is for.
Which stocks are comparable to Markolines Pavement Technologies Ltd?
From the same area (Industrials) we also value AKTR, KT Submarine Co, Hanyang ENG Co, MWIDE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Markolines Pavement Technologies Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price ₹164.35, calculated fair value ₹175.78 (+7%), Quality Score 46/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MARKOLINES calculated?
We run Markolines Pavement Technologies Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹175.78 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Markolines Pavement Technologies Ltd currently trades 7% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Markolines Pavement Technologies Ltd (MARKOLINES)?
The closing price on Nov 6, 2026 was ₹164.35. Our model-based fair value is ₹175.78, about +7% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Markolines Pavement Technologies Ltd right now?
The model range is unusually wide (₹78.04 to ₹256.07). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of Markolines Pavement Technologies Ltd
How large is the market capitalisation of Markolines Pavement Technologies Ltd (MARKOLINES)?
The market capitalisation of Markolines Pavement Technologies Ltd is ₹3.6B (≈ $38.6M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Markolines Pavement Technologies Ltd (MARKOLINES)?
The price-to-sales ratio of Markolines Pavement Technologies Ltd is 1.03 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Markolines Pavement Technologies Ltd (MARKOLINES)?
Earnings per share at Markolines Pavement Technologies Ltd are ₹12.18 (price ÷ EPS = P/E 13.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Markolines Pavement Technologies Ltd (MARKOLINES)?
The dividend yield of Markolines Pavement Technologies Ltd is 0.8% (payout 11.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Markolines Pavement Technologies Ltd (MARKOLINES)?
The net margin of Markolines Pavement Technologies Ltd is 7.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Markolines Pavement Technologies Ltd (MARKOLINES)?
The return on equity (ROE) of Markolines Pavement Technologies Ltd is 13.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Markolines Pavement Technologies Ltd (MARKOLINES)?
On an EBIT basis the return on assets of Markolines Pavement Technologies Ltd is 12.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Markolines Pavement Technologies Ltd (MARKOLINES)?
The operating margin of Markolines Pavement Technologies Ltd is 10.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Markolines Pavement Technologies Ltd (MARKOLINES)?
Revenue at Markolines Pavement Technologies Ltd is growing +4.3% versus a year earlier (3y avg +9.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Markolines Pavement Technologies Ltd (MARKOLINES)?
Earnings per share at Markolines Pavement Technologies Ltd are growing +14.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Markolines Pavement Technologies Ltd (MARKOLINES) carry?
The net debt of Markolines Pavement Technologies Ltd is ₹843M (fiscal year 2026, ≈ 94.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 3, 2026