---
title: "Maars Software International Ltd (MAARSOFTW) — Share Price, Financials & Analysis"
symbol: "MAARSOFTW"
company: "Maars Software International Ltd"
canonical: "https://tapetide.com/stocks/MAARSOFTW"
nse_symbol: "MAARSOFTW"
generated_at: "2026-10-13T11:01:14.635Z"
---

# Maars Software International Ltd (MAARSOFTW)

Canonical page: https://tapetide.com/stocks/MAARSOFTW

## Company

- **NSE Symbol:** MAARSOFTW
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** maarssoft.com

## About

Maars Software International Limited is engaged in providing information technology services based in India. The Company is focusing on implementation of enterprise resource planning (ERP) software and also offering its clients a range of other services, including system integration and projects, software products and projects, and onsite consulting. It provides manufacturing solutions services in implementation support of ERP products, including SAP R/3 and Oracle Manufacturing.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.03 times its book value

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y |
| --- | --- |
| net income growth | -345% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 4.15 | 0.02 | 0.01 | 0.02 | 3.78 | 0.02 | 0.01 | 0.02 | 4.1 | 0.04 | 0.1 | 0.02 |
| Operating Profit | -4.15 | -0.02 | -0.01 | -0.02 | -3.78 | -0.02 | -0.01 | -0.02 | -4.1 | -0.04 | -0.1 | -0.02 |
| Other Income | -0.18 | 0.05 | 0.36 | 0.04 | -0.07 | 0.04 | 0.04 | 0.04 | 0.1 | 0 | 0.09 | 0.04 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.16 | 0.11 | 0.11 | 0.11 |
| Profit before tax | -4.43 | -0.07 | 0.25 | -0.08 | -3.95 | -0.08 | -0.07 | -0.08 | -4.16 | -0.15 | -0.12 | -0.09 |
| Tax % | 0 | 0 | 0 | 0 | -60 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -4.43 | -0.07 | 0.25 | -0.07 | -1.57 | -0.08 | -0.07 | -0.07 | -4.17 | -0.15 | -0.12 | -0.1 |
| EPS in Rs | -0.3 | 0 | 0.02 | 0 | -0.11 | -0.01 | 0 | 0 | -0.28 | -0.01 | -0.01 | -0.01 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Jun 2010 15m | Mar 2011 9m | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 50.56 | 35.55 | 31.21 | 6.34 | 0.94 | 0 | 0 |
| Expenses | 43.71 | 33.91 | 29.75 | 14.38 | 2.09 | 0.49 | 4.26 |
| Operating Profit | 6.85 | 1.64 | 1.46 | -8.04 | -1.15 | -0.49 | -4.26 |
| OPM % | 13.55 | 4.61 | 4.68 | -126.81 | -122.34 | — | — |
| Other Income | -0.33 | 0.66 | 0.85 | 8.3 | -13.06 | -11.55 | 0.23 |
| Interest | 0 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0 |
| Depreciation | 2.3 | 2.24 | 2.16 | 2.05 | 2.52 | 0.29 | 0.49 |
| Profit before tax | 4.22 | 0.05 | 0.13 | -1.8 | -16.74 | -12.34 | -4.52 |
| Tax % | 0 | 0 | 7.69 | 106.11 | -3.35 | 0 | — |
| Net Profit | 4.22 | 0.05 | 0.12 | -3.71 | -16.18 | -12.34 | -4.54 |
| EPS in Rs | 0.64 | 0.01 | 0.01 | -0.25 | -1.1 | -0.83 | -0.31 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Jun 2010 | Mar 2011 | Sep 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 66.16 | 66.16 | 147.68 | 147.68 | 147.68 | 148.98 | 152.52 |
| Reserves | 24.65 | 24.67 | 21.95 | 18.25 | 2.07 | -10.27 | -26.78 |
| Borrowings | 38.17 | 37.51 | 29.29 | 29.37 | 38.06 | 78.84 | 32.24 |
| Other Liabilities | 11.6 | 8.93 | 8.68 | 21.86 | 31.98 | 36.8 | 28.2 |
| Total Liabilities | 140.58 | 137.27 | 207.6 | 217.16 | 219.79 | 254.35 | 186.18 |
| Fixed Assets | 36.22 | 33.98 | 31.82 | 38.38 | 35.86 | 35.57 | 32.9 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 14.08 | 20.08 | 18.41 | 27.58 | 56.07 | 73.07 | 75.72 |
| Other Assets | 90.28 | 83.21 | 157.37 | 151.2 | 127.86 | 145.71 | 77.56 |
| Total Assets | 140.58 | 137.27 | 207.6 | 217.16 | 219.79 | 254.35 | 186.18 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Jun 2010 | Mar 2011 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -2.15 | 6 | -17.83 | -50.64 | 34.13 | -13.08 |
| Cash from Investing Activity | 3.27 | -5.34 | -0.4 | -4.47 | -42.82 | -28.94 |
| Cash from Financing Activity | -2.28 | -0.66 | 73.3 | 0.08 | 8.69 | 42.07 |
| Net Cash Flow | -1.16 | 0 | 55.07 | -55.03 | 0 | 0.05 |
| Free Cash Flow | -2.15 | 6 | -17.83 | -59.25 | 34.13 | -13.08 |
| CFO/OP | -31 | 366 | -1221 | 630 | -2968 | 2669 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Jun 2010 | Mar 2011 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 123.01 | 190.56 | 234.72 | 1196.32 | 8154.26 | — |
| Inventory Days | — | — | — | — | 0 | — |
| Cash Conversion Cycle | 123.01 | 190.56 | 234.72 | 1196.32 | 8154.26 | — |
| Working Capital Days | 575.65 | 773.84 | 1106.58 | 7612.03 | 38130.85 | — |
| ROCE % | — | 0.05 | 0.09 | -0.91 | -1.26 | — |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 10 / 7 / 2

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 3.01 | Buy |
| EMA (10) | 3.03 | Buy |
| SMA (20) | 3.01 | Buy |
| EMA (20) | 3.02 | Buy |
| SMA (50) | 3.06 | Sell |
| EMA (50) | 3.02 | Buy |
| SMA (100) | 3 | Buy |
| EMA (100) | 3.02 | Buy |
| SMA (200) | 3.01 | Buy |
| EMA (200) | 3.08 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 51.77 | Neutral |
| MACD (12,26,9) | 0 | Buy |
| Stochastic (14,3,3) | 43.7 | Neutral |
| ADX (14) | 21.56 | Neutral |
| Williams %R (14) | -45.95 | Neutral |
| ATR (14) | 0.16 | High Volatility |
| ROC (12) | 2 | Buy |
| Stoch RSI (14) | 79.1 | Neutral |
| UO (7,14,28) | 53.32 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2017-02-14 | [Standalone Financial Results for December 31, 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=CB45EC89_26DD_4654_8B51_25DEAB5077D7_162201.pdf) |
| 2017-02-14 | [Standalone Financial Results for December 31, 2016](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/2/CB45EC89_26DD_4654_8B51_25DEAB5077D7_162201.pdf) |
| 2017-02-01 | [Board Meeting Intimation for Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=451028B4_7E5D_45FF_93A1_BB67842FDB2B_172412.pdf) |
| 2017-02-01 | [Board Meeting Intimation for Results](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/2/451028B4_7E5D_45FF_93A1_BB67842FDB2B_172412.pdf) |
| 2016-11-11 | [Standalone Financial Results for September 30, 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=41EDCF9D_18E1_4538_8F33_52A777046F44_122506.pdf) |
| 2016-11-11 | [Standalone Financial Results for September 30, 2016](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/11/41EDCF9D_18E1_4538_8F33_52A777046F44_122506.pdf) |
| 2016-11-03 | [Board Meeting Intimation for Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=C3FFD6E8_6DD6_45FB_944B_941F99B150AF_141907.pdf) |
| 2016-11-03 | [Board Meeting Intimation for Results](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/11/C3FFD6E8_6DD6_45FB_944B_941F99B150AF_141907.pdf) |
| 2016-08-12 | [Standalone Financial Results for June 30, 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=A1B26CE7_8E89_4CF7_AE14_3B10D3A8438F_163421.pdf) |
| 2016-08-12 | [Standalone Financial Results for June 30, 2016](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2016/8/A1B26CE7_8E89_4CF7_AE14_3B10D3A8438F_163421.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/531528/5315280311.pdf) |
| Jun 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/531528/5315280610.pdf) |
| 2010 | [Annual Report 2010](https://archives.nseindia.com/annual_reports/AR_MAARSOFTW_2009_2010_13042011115323.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:01:14.635Z.