Maris Spinners Limited

Consumer Cyclical — Textile Manufacturing · BSE

₹36.69+₹0.85 (+2.37%)

DalalBaazaar Score

33 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, with healthy sales growth. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:07 pm

Caution warranted. Multiple fundamental metrics — flagged in red below — point to either valuation stretch, leverage risk, or weakening profitability. This doesn't mean avoid the stock outright, but it does mean the burden of proof is on the growth story to justify the current price.

Understanding the Business

Company site ↗

The 60-second version of Maris Spinners Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Maris Spinners Limited engages in the manufacture and sale of cotton yarn in India. Maris Spinners Limited was incorporated in 1979 and is headquartered in Chennai, India.

IndustryTextile Manufacturing

SectorConsumer Cyclical

Employees499

Who are its competitors?

The closest listed comparisons in its industry are MARUTI SUZUKI INDIA LTD., TITAN COMPANY LIMITED, TRENT LTD, AVENUE SUPERMARTS LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

MARUTI SUZUKI INDIA LTD.P/E 25.2x · ROE 13.4%

TITAN COMPANY LIMITEDP/E 68.5x · ROE 36.7%

TRENT LTDP/E 87.2x · ROE 25.9%

AVENUE SUPERMARTS LIMITEDP/E 69.9x · ROE 12.7%

What is its competitive advantage?Little sign of one

Returns on capital of the level reported are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

ROE-26.2%

Peer median ROE25.9%

DalalBaazaar Score

33/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ Debt/Equity of 3.61x is high — earnings must service borrowings before shareholders see anything

Quality vs. Valuation

Company Quality

31/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

29/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

P/E (Trailing)

Not meaningful

P/B

1.58x

EV/EBITDA

—

PEG

—

Dividend Yield

None

Red Flags

1 item require attention · 1 high

🔴High leverageFinancial
Debt/Equity of 3.61x — earnings must service borrowings before shareholders see anything.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Leverage amplifies any setback
Debt/Equity of 3.61x. Interest is payable whether or not the business has a good year.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Free cash flow remains positive✗ not reported
Profit that never becomes cash eventually stops being profit.

Investment Checklist

4 / 7 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Revenue growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 6 neutral · 4 weak

Market Cap

₹29 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

1.58x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹-6.09

Loss-making

Negative earnings per share — the business is losing money

ROE

-26.2%

Weak

Weak capital efficiency

ROCE

Not available

No data

Source didn't return this field

Debt/Equity

3.61x

High

High leverage

Revenue Growth (YoY)

24.3%

Healthy

Healthy top-line growth

Profit Growth (YoY)

Not available

No data

Source didn't return this field

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

Not available

No data

Source didn't return this field

More Metrics

CMP

₹36.69

Operating Margin

14.5%

Average

Average margins

Net Margin

1.4%

Weak

Very little revenue reaches the bottom line

Beta (vs Nifty)

-0.07

Defensive

Steadier than the market

52W Range Position

61%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

37.3 / 37.3

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

39.6

Neutral momentum

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

79.3%

Corporate Actions

Ex-Dividend Date

13 Sept 2022

Peer Comparison

Company	P/E	ROE
MARUTI SUZUKI INDIA LTD.	25.2x	13.4%
TITAN COMPANY LIMITED	68.5x	36.7%
TRENT LTD	87.2x	25.9%
AVENUE SUPERMARTS LIMITED	69.9x	12.7%

Recent News

1 mixed1 negative4 general

Maris Spinners net profit turns positive at ₹3.63 crore in Q1FY27

scanx.trade, 06 Aug

Maris Spinners Limited Receives Rs 53 Lakh Interest Subsidy from Textiles Department

scanx.trade, 23 Mar

M M Rubber Co reports standalone net profit of Rs 0.92 crore in the June 2026 quarter

Business Standard, 07 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Ratnamani Metals & Tubes consolidated net profit declines 37.67% in the June 2026 quarter

Business Standard, 07 AugResults

🔴Potentially negativeReported deterioration, which feeds the growth and margin inputs on this page directly.

Maris Spinners Limited Receives Rs 40,99,962 Interest Subsidy from Commissioner of Textiles

scanx.trade, 31 Mar

PRASHANT INDIA LTD. Stock/Share price , NSE/BSE Forecast News and Live Quotes

Equitymaster, 06 Dec

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.
3 metrics couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

🔴Business QualityWeak7/20

🔴Financial HealthStretched3/20

🟡GrowthModest10/20

🔴ProfitabilityWeak3.2/15

🔴ValuationDemanding5.1/15

🔴RiskHigh4.3/10

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 1 high-severity red flag sits above this conclusion and should be read first.

This thesis breaks if

✗Free cash flow remains positivenot reported