IMEC Services Ltd
Incorporated in 1987, MEC Services Ltd
provides Management and Consultancy
Services inter alia – information technology, engineering, and technical[1]
- Market Cap ₹ 52.8 Cr.
- Current Price ₹ 278
- High / Low ₹ 448 / 54.2
- Stock P/E 2.15
- Book Value ₹ 138
- Dividend Yield 0.00 %
- ROCE 177 %
- ROE 177 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 380% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 145%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 30.3%
- Promoters have pledged or encumbered 65.5% of their holding.
- Company has high debtors of 266 days.
- Working capital days have increased from 132 days to 298 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Services Services Commercial Services & Supplies Consulting Services
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 276 | 227 | 33 | 15 | 1 | 1 | 3 | 0 | 3 | 9 | 6 | 28 | 27 | |
| 276 | 227 | 86 | 15 | 1 | 1 | 3 | 0 | 3 | 8 | 6 | 3 | 2 | |
| Operating Profit | -0 | 0 | -53 | 0 | -0 | 1 | 0 | -0 | -0 | 0 | 0 | 25 | 24 |
| OPM % | -0% | 0% | -158% | 0% | -51% | 48% | 1% | -96% | -2% | 1% | 1% | 88% | 91% |
| 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | |
| Interest | 0 | 0 | 0 | -0 | -0 | -0 | 0 | -0 | -0 | 0 | -0 | -0 | 0 |
| Depreciation | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 0 | -53 | 0 | -0 | 1 | 0 | -0 | -0 | 0 | 0 | 25 | 25 |
| Tax % | 125% | 54% | 8% | -14% | -0% | 91% | -0% | -0% | -0% | -0% | -0% | -0% | |
| -0 | 0 | -57 | 0 | -0 | 0 | 0 | -0 | -0 | 0 | 0 | 25 | 25 | |
| EPS in Rs | -0.04 | 0.01 | -11.42 | 0.01 | -0.05 | 0.01 | 0.00 | -0.04 | -0.01 | 0.01 | 0.16 | 133.79 | 129.58 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -19% |
| 5 Years: | 58% |
| 3 Years: | 103% |
| TTM: | 365% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 83% |
| 5 Years: | 380% |
| 3 Years: | 761% |
| TTM: | 2022% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 47% |
| 5 Years: | 181% |
| 3 Years: | 403% |
| 1 Year: | 263% |
| Return on Equity | |
|---|---|
| 10 Years: | -53% |
| 5 Years: | 121% |
| 3 Years: | 145% |
| Last Year: | 177% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 2 | 2 | 2 |
| Reserves | 9 | 9 | -48 | -47 | -47 | -48 | -48 | -48 | -48 | -48 | -0 | 25 | 24 |
| 1 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | |
| 8 | 17 | 14 | 16 | 2 | 0 | 3 | 3 | 1 | 5 | 1 | 4 | 1 | |
| Total Liabilities | 68 | 76 | 16 | 19 | 5 | 2 | 4 | 4 | 3 | 6 | 3 | 31 | 27 |
| -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 51 | 53 | 0 | 2 | 2 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| 18 | 23 | 15 | 17 | 4 | 2 | 4 | 4 | 3 | 6 | 3 | 31 | 27 | |
| Total Assets | 68 | 76 | 16 | 19 | 5 | 2 | 4 | 4 | 3 | 6 | 3 | 31 | 27 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -0 | 3 | 0 | 1 | -1 | 0 | -0 | 0 | 0 | 0 | 0 | 9 | |
| 0 | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -5 | |
| -0 | -1 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | |
| Net Cash Flow | -0 | -0 | 1 | 1 | -1 | 0 | -0 | 0 | 0 | 0 | 0 | 3 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 11 | 27 | 149 | 355 | 1,761 | 98 | 369 | 4,167 | 45 | 29 | 5 | 266 |
| Inventory Days | -0 | -0 | -0 | -0 | -0 | 156 | 217 | 79 | ||||
| Days Payable | 311 | 350 | 125 | |||||||||
| Cash Conversion Cycle | 11 | 27 | 149 | 355 | 1,761 | 98 | 369 | 4,167 | -110 | -104 | -41 | 266 |
| Working Capital Days | 4 | 1 | 4 | -6 | 730 | 439 | 221 | 2,312 | 154 | 44 | 55 | 298 |
| ROCE % | 2% | 0% | -174% | 3% | -8% | 25% | 2% | -13% | -3% | 5% | 2% | 177% |
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Jan - RTA certifies no dematerialisation requests received for Oct–Dec 2025.
-
Intimation Regarding Rejection Of Application For Reclassification Of Promoter/Promoter Group To Public Category Under Regulation 31A Of SEBI (LODR) Regulations, 2015 (LODR).
8 Jan - Exchange rejected promoter-to-public reclassification of four entities holding 27,336 shares (1.44%); company awaits formal reasons.
-
Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
31 Dec - Param Foundation sold 28,500 shares (1.5%) to Maan Resources on 30-Dec-2025 for Rs.8,500,125.
-
Closure of Trading Window
30 Dec - Trading window closed Jan 1, 2026 until 48 hours after unaudited Q3/9M results for period ended Dec 31, 2025.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
17 Nov 2025 - Newspaper publication of extract of the unaudited standalone financial results for the quarter and half year ended September 30, 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2011
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Financial Year 2010
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Business Overview:[1][2]
a) Company (formerly known as Ruchi Strips & Alloys Limited) was in the business of Cold Rolled Steel Coils & Sheets. It had its manufacturing unit near Indore, with an installed capacity of 1 Lac TPA of Cold Rolled Steel. In FY11, their entire business including their assets and liabilities was sold on a slump sale basis to RSAL Steel Private Limited (a subsidiary of Ruchi Strips And Alloys Limited). After demerger of its entire steel division, the company was only in trading of commodities.
b) Currently, the company provides Management and Consultancy in engineering, information technology and technical.
c) It is also in trading of agricultural products, metal & metal alloys etc.