MARI Mari Energies Limited

Mari Energies Limited (MARI) financial ratios

Mari Energies Limited earned a net margin of 45.3% in FY2026 against a five-year average of 39.6% (Oil & Gas Exploration Companies median 49.0%). Return on equity was 29.2%, compared with a sector median of 23.1%. The current ratio stood at 2.66× and debt was 5.1% of equity. Cash took about 265 days to cycle through receivables, inventory and payables.

FY2026 vs the Oil & Gas Exploration Companies median

Gross margin: 66.4%; Sector median 64.7%
Operating margin: 42.5%; Sector median 45.0%
Net margin: 45.3%; Sector median 49.0%
Return on equity (ROE): 29.2%; Sector median 23.1%
Return on assets (ROA): 18.8%; Sector median 15.7%
Current ratio: 2.66×; Sector median 3.59×
Debt to equity: 5.1%; Sector median 0.3%
Asset turnover: 0.41×; Sector median 0.30×
Dividend payout ratio: 37.3%; Sector median 32.9%

Median of the 4 companies in the sector with the figure for their latest fiscal year.

MARI financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 * Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 * Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 * Jul 2016 – Jun 2017	FY2016 * Jul 2015 – Jun 2016	FY2015 * Jul 2014 – Jun 2015	FY2014 * Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 * Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	66.4%	71.1%	82.1%	82.3%	82.8%	81.8%	79.8%	79.4%	75.1%	76.5%	79.9%	76.2%	77.8%	77.0%	89.5%	90.8%	89.4%	—	—	87.2%
EBITDA margin	52.6%	55.3%	63.7%	60.3%	59.3%	62.2%	64.3%	70.2%	66.5%	56.3%	37.4%	50.6%	38.7%	36.0%	56.6%	57.5%	46.6%	62.0%	76.5%	57.8%
Operating margin	42.5%	45.8%	57.4%	54.2%	53.8%	56.3%	57.5%	64.0%	56.1%	47.1%	29.8%	42.9%	32.3%	28.9%	45.2%	44.4%	31.1%	50.3%	70.2%	38.5%
Pre-tax margin	43.3%	50.0%	60.7%	58.9%	54.8%	60.2%	65.3%	66.9%	57.2%	45.3%	30.2%	38.9%	33.8%	34.0%	21.3%	43.4%	29.5%	47.3%	67.6%	43.0%
Net margin	45.3%	36.9%	42.5%	38.5%	34.8%	43.1%	48.0%	46.9%	43.3%	37.2%	27.9%	33.5%	30.4%	23.6%	16.9%	27.6%	25.9%	42.5%	25.3%	21.3%
Effective tax rate	(4.6%)	26.2%	30.0%	34.6%	36.6%	28.4%	26.6%	29.9%	24.2%	18.1%	7.8%	13.8%	9.9%	30.6%	20.5%	36.3%	12.2%	10.1%	62.6%	50.5%
Returns
Return on equity (ROE)	29.2%	26.3%	39.3%	37.5%	26.8%	30.1%	38.7%	46.9%	46.8%	57.3%	73.0%	41.8%	26.0%	19.3%	10.1%	17.4%	13.6%	29.8%	29.8%	21.2%
Return on assets (ROA)	18.8%	16.9%	25.7%	25.5%	19.7%	14.5%	12.1%	13.4%	12.9%	11.9%	9.7%	9.0%	8.4%	7.2%	3.8%	7.3%	5.6%	13.0%	13.6%	7.9%
Return on invested capital (ROIC)	27.8%	25.7%	39.2%	37.3%	26.8%	30.1%	38.7%	46.8%	43.4%	38.2%	33.6%	35.9%	27.3%	21.9%	11.6%	17.2%	19.3%	33.8%	30.7%	24.6%
Liquidity
Current ratio	2.66×	2.97×	2.79×	1.98×	2.26×	3.61×	1.34×	1.25×	1.19×	1.16×	0.93×	1.06×	1.08×	1.34×	1.26×	1.33×	1.40×	1.10×	1.20×	1.23×
Quick ratio	2.42×	2.75×	2.62×	1.77×	2.14×	3.38×	1.30×	1.22×	1.18×	1.14×	0.87×	1.02×	1.06×	1.29×	1.20×	1.28×	1.37×	1.08×	1.16×	1.19×
Leverage
Debt to equity	5.1%	3.7%	0.3%	0.5%	0.6%	—	—	0.0%	0.3%	20.1%	6.8%	83.7%	10.2%	18.5%	12.1%	16.1%	22.8%	14.6%	8.1%	3.0%
Debt to capital	4.9%	3.6%	0.3%	0.5%	0.6%	—	—	0.0%	0.3%	16.7%	6.4%	45.6%	9.2%	15.6%	10.8%	13.9%	18.6%	12.7%	7.5%	2.9%
Debt to assets	3.4%	2.4%	0.2%	0.3%	0.4%	—	—	0.0%	0.1%	5.5%	1.9%	14.7%	2.9%	7.3%	4.2%	6.8%	9.7%	5.9%	4.0%	1.2%
Assets to equity	1.53×	1.55×	1.53×	1.47×	1.36×	2.07×	3.20×	3.51×	3.62×	3.60×	4.40×	4.42×	3.08×	2.70×	2.65×	2.37×	2.42×	2.29×	2.19×	2.70×
Efficiency
Asset turnover	0.41×	0.46×	0.60×	0.66×	0.57×	0.34×	0.25×	0.28×	0.30×	0.32×	0.35×	0.27×	0.28×	0.30×	0.22×	0.27×	0.22×	0.31×	0.54×	0.37×
Receivable days days	195	194	159	136	135	533	965	875	785	621	518	729	651	521	701	469	616	389	146	195
Inventory days days	84	86	114	111	107	166	164	84	32	90	152	109	97	125	400	261	187	—	—	158
Payable days days	15	10	18	15	13	18	48	71	48	47	64	68	96	81	201	2,497	—	—	—	—
Cash conversion cycle days	265	270	255	231	229	681	1,080	888	768	663	607	769	652	565	900	(1,774)	802	389	146	353
Dividends
Dividend payout ratio	37.3%	39.9%	40.0%	34.9%	50.0%	59.8%	2.6%	3.0%	4.6%	7.1%	10.1%	10.2%	8.8%	14.1%	27.7%	14.2%	19.2%	5.5%	8.0%	8.6%
Earnings retention rate	0.63×	0.60×	0.60×	0.65×	0.50×	0.40×	0.97×	0.97×	0.95×	0.93×	0.90×	0.90×	0.91×	0.86×	0.72×	0.86×	0.81×	0.95×	0.92×	0.91×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

MARI: frequently asked questions

What is MARI's EPS?

Mari Energies Limited reported basic earnings per share of Rs 72.36 for FY2026 (Jul 2025 – Jun 2026).

What is MARI's P/E ratio?

At the closing price of Rs 633.13 on 16 Oct 2026, MARI trades at a P/E of 8.7× based on EPS of Rs 72.36 (FY2026).

Does MARI pay dividends?

Yes. Mari Energies Limited declared a dividend of Rs 27.00 per share for FY2026. It has paid a dividend in each of the last 20 years. At Rs 633.13 that is a dividend yield of 4.3%.

What was MARI's revenue and profit in FY2026?

Mari Energies Limited reported revenue of Rs 191.7 bn and profit attributable to shareholders of Rs 86.9 bn for FY2026 (Jul 2025 – Jun 2026).

What is MARI's book value per share?

Mari Energies Limited's book value per share was Rs 268.62 at the end of FY2026. The shares trade at 2.36× book value.

Information only, not investment advice.