Sandeep R Profile picture
Jan 9, 2023 18 tweets 5 min read Read on X
Markolines Pavement Technologies Limited -
Can this be the winner in India's economic development?

Market cap :306 cr
A Thread Image
Incorporated in 2002,
Markolines is a Highway Operations & Maintenance (O&M) Service providing company.
The company’s operations are mainly divided into-Highway Operations, Highway Maintenance, and Specialized Maintenance Services.
Roads make a crucial contribution to economic development and growth of a nation. Well-maintained roads bring vital social benefits like providing access to employment. India's roads needs smooth operation and superior maintenance, and this is done by Markoline .
Weather, traffic volume and geographical conditions often impact the roads and it is important to take these factors into consideration while arriving at the right treatment.
Road repairs are a norm especially what i have seen in metros .
They have added new services and tech at regularly intervals since 2002

They got into extrusion tech for road marking in India .
Microsurfacing experts .
Microsurfacing is similar to slurry seal. consists of a mixture of water, asphalt emulsion, aggregate and chemical additives to an existing asphalt concrete pavement surface. Polymer is commonly added to the asphalt emulsion to provide better mixture properties.
healthy increase in sales and operating profit Image
Promoter holding is good . However i havent heard from them , just read the annual reports . few mails i have sent have been unanswered .
havent found anything negative about them in the media . Image
This being a election year , we will see a host of road related projects being approved , Markolines will be a beneficiary in this .(hope)
In over a decade and a half, they have transitioned from a single product company to a multi-product company and aspire to be a pioneer of transformation in Highway Operations & Maintenance (O&M).
Order book : close to 500 cr .

All the below orders are received in 2021-2022

Received Work order from Gayatri Cresent (JV) for 6 lane Tunnel with approaches in Khambataki Ghat Section of NH-4 worth Rs. 325 Cr.
Received Work Order from Farakka Raiganj Highways Limited (FRHL) for Execution of Rehabilitation, Bitumen Overlay, Micro surfacing and associated Ancillary works of Farakka-Raiganj Section in the state of West Bengal worth of Rs. 95.45 Cr.
Received Work order from Mumbai Metropolitan Region Development Authority (MMRDA) for Renewal of main carriageway and service road with Bituminous treatment on Eastern Expressway Highway worth of Rs. 132.62 Cr.
Order book is more than the current market cap .
If management is able to execute them then it can be multibagger !
Rights issue at 167 .
Looks like promoters will hold back most of the shares.

#markolines #investing #rightsissue Image
Rights issue date 27 Jan
#investing #markolines Image
New order . Rights issues acquired mostly by promoters . Election year
. Lot of tailwinds for this sme . Image

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More from @investor_sr33

Jan 5
Thread 🧵

How I analyze Indian Microcap & SME stocks using AI

I focus on asking the right prompts across AI tools.

Just use them on your AI like chatgpt , perplexity and thank me later .
1) Microcap Order Book + Execution Reality Check

Prompt:
“You are an Indian microcap analyst. For [COMPANY NAME] (NSE/BSE), build a structured note covering:
Order book: latest value, segment split (EPC/defence/rail/renewables/etc.), client quality, margin profile, retention/LD clauses, advances, execution cycle, and historical conversion to revenue.

Execution: quarterly execution trend, capacity constraints, working capital cycle, procurement dependencies, subcontracting risk, and site-level bottlenecks.

Red flags: aggressive revenue recognition, unusually high other income, sudden debtor jump, related-party transactions.
Output: a table + a 10-bullet ‘investment memo’ with base case / bull case / bear case.”
2) Management Fraud / Governance Deep-Dive (Microcap)

Prompt:
“Act as a forensic equity researcher. For [COMPANY NAME], perform a management integrity and fraud-risk scan:
Promoter background, past litigations, regulatory actions, auditor changes, resignations (CFO/CS/independent directors), pledging history

Related-party transactions and loan/advance patterns

Cash flow vs PAT divergence (5-year), receivables build-up, inventory anomalies

Auditor notes/qualifications and contingent liabilities

Any signs of round-tripping, channel stuffing, or overstated order book
Give a Risk Score (1–10) and list the top 12 due-diligence questions to ask management.”
Read 7 tweets
Nov 20, 2025
Quality Power Updates
Order book & visibility:
Order backlog stands ~₹830 Cr, ensuring strong revenue visibility. Tender pipeline remains robust across segments and geographies, supporting sustained growth. FY26 revenue guidance (~₹700–800 Cr) remains on track.
Capex & expansion: Major capacity expansion underway. Mehru division is ramping up with new production lines – on track to become the largest and most cost-competitive in its segment. A new coil manufacturing plant is slated to go live by June 2026, which will significantly boost future output capacity.
Read 7 tweets
Sep 19, 2025
Quality Power Electrical Equipments (QPOWER)

A quiet player in power-quality & grid equipment that’s quietly building scale.
Here’s why it could be India’s next big infra-tech story

A Thread Image
What they do:
Make high-voltage equipment – coils, transformers, harmonic filters, STATCOM/SVC, capacitor banks – critical for grid stability, renewable integration, and industrial electrification.
Numbers that matter (FY25):

Revenue: ₹392 cr

PAT: ₹100 cr

Order book: ~₹750 cr (15–18 months visibility)

Customers: 200+ across 100+ countries

Plants: Sangli, Cochin, Bhiwadi (Mehru), Turkey
Read 11 tweets
Aug 6, 2025
Some themes of defence which you may need to understand different companies ,

🧵
IDDM Priority
Buy Indian–IDDM gets top spot in defence buys .

Companies like BEL, HAL, Mazagon Dock keep bagging large orders without heavy competition.

#MakeInIndiaDefence
Make‑I / Make‑II
GoI funds up to 70% of R&D under Make‑I & assures orders under Make‑II low‑risk, high‑reward play for private defence innovators.
Read 8 tweets
Jun 11, 2025
Oriana Power FY25 Update & 2030 Vision _ Concall update

Solar, BESS, hydrogen & more.

🧵 Image
Order Book Status

400 MW solar delivered

550 MW under execution

403 MWh BESS orders secured

700 MWh BESS pipeline building

Green hydrogen: 10,000 MTPA SECI allocation

Total current executable orders: ₹2,500 Cr+
FY26 Guidance

Revenue: ₹2,000–₹2,500 Cr

80% from EPC (solar + BESS + CBG + IPP)

20% from newer verticals

Green hydrogen revenue will start contributing after FY26
Read 9 tweets
May 5, 2025
Latent View Analytics – FY25 Update
One of India’s pure-play analytics firms just posted a strong FY25.
Revenue up, margins healthy, and new growth levers activated.
Let’s break it down Image
Numbers (FY25)

Revenue: ₹8,479 Mn (+32.3% YoY)

Net Profit: ₹1,735 Mn (+9.4% YoY)

EBITDA Margin: 23.7%

EPS: ₹8.45
Global Presence

1,600+ employees

Delivery across: US, LATAM, APAC, UK & EU

Models: Onshore / Nearshore / Offshore

Focus expanding in Canada, Mexico, GCC, and SE Asia
Read 10 tweets

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