The company has a very interesting portfolio; they are into EPC, construction, realty and engineering projects. They have already commissioned first phase of Karaikal Port with capacity of 5.25 million tonne of cargo. They have ship repair yard and two integrated SEZ in townships.
Considering relatively larger companies than this, their financials have derailed. They have not been able to stick to the financials. Their balance sheet is over leveraged. There has been delay in their projects but these weaknesses are not seeing with respect to this company.
On a standalone basis the performance has been quite good. On a consolidated basis, they posted a top line of Rs 1,000 crore, dividend payment of 20% and EPS of close to Rs4-5. Their current market cap is around Rs 300-310 crore. All these things give confidence that the share at Rs 80 looks to have corrected a lot.
Once we see renewed buying interest coming in stock Marg has the potential to move to about Rs 115 in next one year but with a very limited downside.
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