Markolines Pavement Technologies Limited · NSE:MARKOLINES
Markolines Pavement Technologies — Q2 FY2026 Earnings Presentation
46 slides from Markolines Pavement Technologies's earnings presentation, Nov 17, 2025
Slide 1: Cover letter to stock exchanges
17th November, 2025 To, To, BSE Limited National Stock Exchange of India P. J. Towers, Dalal Street, Limited Fort, Mumbai – 400001. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400051. Kind attention: Department of Corporate Services. Kind attention: Listing Dept. BSE Scr
Slide 2: Investor Presentation Q2 & H1 FY2026
Markolines Pavement Technologies Limited INVESTOR PRESENTATION Q2 & H1 - FY2026
Slide 3: Table of Contents
TABLE OF CONTENTS 03 Management Discussion 06 Leadership 09 Business Verticals 17 Building on Our Legacy 22 Our Projects & Clienteles 25 Industry Overview 34 Q2 & H1 - FY26 Summery 38 Financial Highlights 43 Shareholding Pattern
Slide 4: Management Commentary
MANAGEMENT COMMENTARY Dear Shareholders, Markolines continues to build on its 23 years legacy with a clear focus on operational excellence, disciplined execution, and consistent value creation. The Company’s evolution from a specialized service provider to a leading Highway O&M player reflects our a
Slide 5: About the Markolines
ABOUT THE MARKOLINES 1 Founded in 2002 with single Service: Road Strengthening & A must for handling the growing needs Marking Widening of of Indian economy Road Network 2 Transformed into India's Largest Maintenance Company in the highway With Government sector schemes such as HAM and TOT, the outs
Slide 6: Our Journey
OUR JOURNEY • Ventured in Cold In Place Recycling – CIPR and • Incorporated bagged first order. Mark-O-line Traffic • Successfully Executed first Controls Pvt. Ltd. airport maintenance project • Started of resurfacing @ Thermoplastic Ahmedabad Airport runway. Road Marking • Ventured into Highway Ope
Slide 7: Leadership
LEADERSHIP
Slide 8: Our Promoters
OUR PROMOTERS Markolines Pavement Technologies Limited Markolines Pavement Technologies Limited Markolines Pavement Technologies Limited Markolines Pavement Technologies Limited Mr. Sanjay B Patil Mr. Vijay R Oswal Founder, Chairman & Founder & Chief Financial Officer Managing Director A seasoned pr
Slide 9: Leadership Team
LEADERSHIP TEAM Mr. Praveen Panchal Mr. S P Nagarkar Mr. Anil Nikam Director Director - Technical Chief Executive Officer Mr. Panchal, with 30 years of A seasoned professional with over Mr. Anil Nikam, is an infrastructure experience in the Financial Services three decades of infrastructure professi
Slide 10: Business Verticals
BUSINESS VERTICALS 1 2 3 INVESTOR PRESENTATION HIGHWAY SPECIALIZED SPECIALIZED MAINTENANCE MAINTENANCE CONSTRUCTION SERVICES SERVICES 9
Slide 11: Core Services (1)
CORE SERVICES(1) PREVENTIVE MAJOR MAINTENANCE & RIGID PAVEMENT MAINTENANCE REPAIRS (MMR) MAINTENANCE Proactive treatments to address early Involves removing one or more layers of Specialized maintenance for high-load road deterioration, preserving asset the existing road and replacing them cement co
Slide 12: Core Services (2)
CORE SERVICES(2) MICRO SURFACING COLD-IN-PLACE RECYCLING A fast, cost-effective surface A specialized road rehabilitation process treatment that extends road life that reuses existing asphalt on-site with using advanced microsurfacing and foamed bitumen/emulsion using in-house in-house tech backed b
Slide 13: Core Services (3)
CORE SERVICES(3) SOIL STABILISATION/ FDR TUNNELING Process of enhancing soil strength Construction of artificial underground and moisture resistance using passages through hills, mountains, or cement, lime or chemical additives. beneath the ground and water for enhanced connectivity, reduced Applica
Slide 14: Markolines: At a Glance
MARKOLINES: AT A GLANCE 118.43 Lakhs Sqm of Micro 1 surfacing work in India 5,140 Lane KM 2 MMR Work in India ₹ 3 Rs. 396+ Cr. unexecuted order Book as on 30 September 2025 4 1.37 Lakhs Cum FDR/ Soil Stabilization Work in India 5 197.52 Lane Kms Highest INVESTOR PRESENTATION CIPR Experience in India
Slide 15: SWOT Analysis
SWOT ANALYSIS • Established expertise in road infrastructure and highway maintenance. • Strong portfolio of completed projects across national and state highways. • Skilled workforce with domain-specific knowledge and on-ground experience. • In-house capabilities for both routine and specialized mai
Slide 16: Corporate Actions Update
CORPORATE ACTIONS UPDATE BSE MAINBOARD LISTED ON NSE MAIN MERGER STATUS UPDATE MIGRATION BOARD The Company is in the process Migrated to the BSE Successfully listed on the of resubmitting the merger Mainboard with a noticeable NSE Main Board on 14th application with BSE and NSE, INVESTOR PRESENTATIO
Slide 17: H1 FY26 Highlights
H1 FY26 HIGHLIGHTS Markolines Q2FY26 PAT soars 69.29% YoY to Rs. 4.08 Markolines’ unexecuted order book stands at ₹396+ crore on 39.95% revenue growth. 1 6 crore as of September 2025. Earnings per share rose to ₹1.70 from ₹0.98, marking The Company also has an additional order pipeline 2 5 of over ₹
Slide 18: Building on Our Legacy
- << BUILDING ON OUR LEGACY
Slide 19: Our Competitive Advantages
OUR COMPETITIVE ADVANTAGES Excellent Regional & cultural Paving the path towards innovative understanding future by introducing newest technologies in India Strict adherence to Focus on Health, Safety, Security & SOPs & Ethical practices Environment (HSSE) Customer Centric & Proactive Strong, Integr
Slide 20: Key Drivers
KEY DRIVERS MARKET LEADERSHIP FIRST MOVER ADVANTAGE Markolines enjoys the clear leadership in the Highway Maintenance A key growth driver for Markolines is its early adoption of emerging Segment. It is the only Company in India providing exclusive and technologies, leading to a market-leading positi
Slide 21: Future Vision
FUTURE VISION Increasing top line by strategically growing the average ticket size of projects. Continuously catering to evolving Extending our proven skills and client needs and enhancing our capabilities to adjacent portfolio of services. Driving infrastructure sectors. Revenue Expanding Growth Le
Slide 22: Order Book Summary
ORDER BOOK SUMMARY MARKOLINES PAVEMENT TECHNOLOGIES LIMITED (In Rs. Crore) Segments Order Book as on 30th September 2025 Major Maintenance & Repairs (MMR) 160.90 Specialized Construction Segment 235.41 Total 396.31 Orders in pipeline 600+ INVESTOR PRESENTATION 21
Slide 23: Our Projects
OUR PROJECTS INVESTOR PRESENTATION Founded in 2002 with single services: Road Marking, the company is today running several projects across the length and breadth of the country. 22
Slide 24: Our Clientele
OUR CLIENTELE Cube Highways and Transport Interise Trust Nxt-Infra Trust Tata Realty & Infrastructure Ltd. ROADIES Assets Advisors Pvt. Ltd. Highway Concessions One Pvt. Ltd. Safeway Concessions L&T Infrastructure Finance Maharashtra - State Infrastructure Mumbai Metropolitan Region Company Ltd. Dev
Slide 25: Appreciation & Awards
APPRECIATION & AWARDS Certificate of Appreciation for Certificate of Appreciation Certificate of Appreciation for Certificate of Appreciation for Incident- Zero – Lost Time Injuries by Zero- Incident by WATL Incident-free Project Execution by free Project Execution by ISTPL WUTPL UEPL INVESTOR PRESE
Slide 26: Industry Overview
INDUSTRY OVERVIEW
Slide 27: Industry Overview (India) 2024-25
INDUSTRY OVERVIEW (INDIA) 2024-25 NATIONAL HIGHWAY AVERAGE PACE OF INVESTMENT NETWORK NATIONAL HIGHWAY MONETIZATION India has witnessed a massive expansion in The average construction pace of national NHAI Completes Largest InvIT total NH Network Increased from 91,287 km in highways increased signif
Slide 28: Recent Cabinet Decisions
RECENT CABINET DECISIONS CCEA approves widening of the 85.68 km Kalibor–Numaligarh section of NH-715 in Cabinet approves construction of 4-lane Assam to 4 lanes, including wildlife-friendly October August Marakkanam – Puducherry (NH-332A) in measures at Kaziranga National Park. The 01, 2025 08, 2025
Slide 29: Development and Maintenance of National Highways 1/2
DEVELOPMENT AND MAINTENANCE OF NATIONAL HIGHWAYS…1/2 Bharatmala Pariyojana was approved by Government of India covering a length of 34,800 km with an estimated cost of Rs. 5.35 lakh crore to improve connectivity and reduce logistics cost in the country. Projects covering a total length of 26,425 km
Slide 30: Development and Maintenance of National Highways 2/2
DEVELOPMENT AND MAINTENANCE OF NATIONAL HIGHWAYS …2/2 Total aggregate length of 26,425 km with a total capital cost of Rs. 8,53,656 crore has been approved and awarded till date under Bharatmala Pariyojana (including 6,758 km length of residual NHDP). No further projects are now being taken up under
Slide 31: Development of Expressways and Access Controlled Corridors 1/4
DEVELOPMENT OF EXPRESSWAYS AND ACCESS CONTROLLED CORRIDORS…1/4 MoRTH is developing 27 Greenfield corridors of 9,860 km length at a total capital cost of Rs. 4,22,851 crore. Ambala - Kotputli corridor has been opened to public traffic. Sections of Delhi- Mumbai Expressway (Delhi - Lalsot, Jhalawar (R
Slide 32: Development of Expressways and Access Controlled Corridors 2/4
DEVELOPMENT OF EXPRESSWAYS AND ACCESS CONTROLLED CORRIDORS…2/4 List of Access Controlled Corridors being developed by MoRTH Corridor Name Length (km) Total Capital Cost (Rs crore) Target Completion Year Ambala - Kotputli 313 11,375 Completed Amritsar - Bhatinda - Jamnagar 917 23,203 FY 25-26 Raipur
Slide 33: Development of Expressways and Access Controlled Corridors 3/4
DEVELOPMENT OF EXPRESSWAYS AND ACCESS CONTROLLED CORRIDORS…3/4 List of Access Controlled Corridors being developed by MoRTH Corridor Name Length (km) Total Capital Cost (Rs crore) Target Completion Year Solapur - Kurnool - Chennai 329 11,237 FY 25-26 Indore - Hyderabad 525 14,007 FY 24-25 Kharagpur
Slide 34: Development of Expressways and Access Controlled Corridors 4/4
DEVELOPMENT OF EXPRESSWAYS AND ACCESS CONTROLLED CORRIDORS…4/4 Cabinet Committee on Economic Affairs (CCEA) has conveyed approval for development, maintenance, and management of a 166.80 km 4-lane Greenfield access- controlled National Highway (NH-06) from Mawlyngkhung (near Shillong, Meghalaya) to
Slide 35: Q2 & H1 - FY26 & Annual Result Highlights
Q2 & H1 - FY26 & ANNUAL RESULT HIGHLIGHTS
Slide 36: Financial Highlights (Q2FY26 vs Q2FY25)
FINANCIAL HIGHLIGHTS (Q2FY26vsQ2FY25) (CONSOLIDATED*) Revenue (In Rs. Cr.) Profitability (In Rs. Cr. Margin in %) Profitability (In Rs. Cr. Margin in %) EPS (In Rs.) 1.70 Q2FY26 Q2FY25 Q2FY26 Q2FY25 90.00 1.80 80.00 77.67 1.60 14.00 12.88% 6.00 5.25% 70.00 11.72% 1.40 55.50 12.00 4.34% 5.00 4.08 60.
Slide 37: Financial Highlights (Q2FY26 vs Q1FY26)
FINANCIAL HIGHLIGHTS (Q2FY26vsQ1FY26) (CONSOLIDATED*) Revenue (In Rs. Cr.) Profitability (In Rs. Cr. Margin in %) Profitability (In Rs. Cr. Margin in %) EPS (In Rs.) 1.72 1.80 Q2FY26 Q1FY26 Q2FY26 Q1FY26 90.00 77.67 1.70 80.00 72.72 14.00 1.70 5.27% 5.21% 6.00% 70.00 12.00 11.72% 11.61% 1.60 60.00 5
Slide 38: Financial Highlights (H1FY26 vs H1FY25)
FINANCIAL HIGHLIGHTS (H1FY26vsH1FY25) (CONSOLIDATED*) Revenue (In Rs. Cr.) Profitability (In Rs. Cr. Margin in %) Profitability (In Rs. Cr. Margin in %) EPS (In Rs.) 150.39 H1FY26 H1FY25 H1FY26 H1FY25 160.00 4 140.00 3.5 3.42 17.55 7.88 20.00 9.00% 105.86 120.00 18.00 3 8.00% 16.00 7.00% 12.61 100.0
Slide 39: Financials
FINANCIALS
Slide 40: Quarterly Profit & Loss Statement
QUARTERLY PROFIT & LOSS STATEMENT (CONSOLIDATED*) (Amounts in Rs. Crore) Particulars Q2FY26 Q2FY25 YoY (%) Q1FY26 QoQ (%) Income from Operations 77.67 55.50 39.95% 72.72 6.81% Other Income 1.96 1.08 81.48% 1.60 22.50% Total Income from Operations 79.63 56.58 40.74% 74.32 7.14% Cost of Materials Cons
Slide 41: Half Yearly Profit & Loss Statement
HALF YEARLY PROFIT & LOSS STATEMENT (CONSOLIDATED*) (Amounts in Rs. Crore) Particulars H1FY26 H1FY25 YoY (%) Income from Operations 150.39 105.86 42.06% Other Income 3.57 1.72 107.56% Total Income from Operations 153.96 107.58 43.11% Cost of Materials Consumed 18.11 32.05 -43.49% Employees Expenses
Slide 42: Profit & Loss Statement
PROFIT & LOSS STATEMENT (CONSOLIDATED*) (Amounts in Rs. Crore) Particulars FY22 FY23 FY24 FY25 H1FY26 Revenue from Operations 186.64 311.80 347.29 307.43 150.39 Other Income 0.26 0.63 4.41 6.50 3.57 Total Income from Operations 186.90 312.43 351.43 313.93 153.96 Total Cost of Materials Consumed 34.7
Slide 43: Balance Sheet
BALANCE SHEET (CONSOLIDATED*) (Amounts in Rs. Crore) Equity & Liabilities FY22 FY23 FY24 FY25 H1FY26 Assets FY22 FY23 FY24 FY25 H1FY26 Share Capital 19.11 19.11 19.11 22.00 22.04 Property, Plant & Equipment 8.91 21.11 29.84 33.12 29.89 Reserves & Surplus 51.92 66.71 82.68 148.88 153.94 Non-Current I
Slide 44: Shareholding Pattern
SHAREHOLDING PATTERN 45.00% 55.00% INVESTOR PRESENTATION Promoter & Promoter Group Public As on 30 September, 2025 43
Slide 45: Disclaimer
DISCLAIMER This document includes certain forward-looking statements which are tentative, based on current expectations of the management of Markolines Pavement Technologies Limited. These statements are based on management's current expectations or beliefs and are subject to uncertainty and changes
Slide 46: Thank You
Thank You Markolines Pavement Registered Office 502, A Wing, Shree Nand Dham, Sector-11, CBD Belapur, Technologies Limited Navi Mumbai - 400614, Maharashtra, India Corporate office 6th Floor, Wing-A, Shree Nand Dham, Sector-11, CBD Belapur, Navi Mumbai - 400614, Maharashtra, India Phone: +91 22 6266
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