Mitshi India Ltd

₹ 14.0 1.16%

13 Feb - close price

About

Incorporated in 1976, Mitshi India Ltd is in the business of Agriculture products trading.^[1]

Key Points

Business Overview:^[1]
MIL, formerly a manufacturer of automotive, industrial, and decorative paints, thinners, and synthetic resins, has diversified into online fruit and vegetable sales under the Taaza Kitchen brand, supported by its in-house software arm, Mitshi Softwares. The company also engages in software development, logistics, jewellery, paper products, general merchandise (online and offline), and scrap trading, reflecting a broad multi-sector business portfolio.

Website BSE

Market Cap ₹ 12.3 Cr.
Current Price ₹ 14.0
High / Low ₹ 17.5 / 11.5
Stock P/E
Book Value ₹ 3.09
Dividend Yield 0.00 %
ROCE 0.36 %
ROE 0.37 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.

Cons

Stock is trading at 4.53 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -10.2% over past five years.
Promoter holding is low: 15.6%
Company has a low return on equity of -7.72% over last 3 years.
Company has high debtors of 194 days.
Working capital days have increased from 107 days to 186 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 Trading & Distributors

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	3.04	3.42	5.54	8.28	3.43	2.98	1.01	1.18	1.35	1.03	0.41	0.51	0.57
	3.31	3.82	5.08	7.46	3.38	4.16	1.05	1.13	1.29	1.09	0.41	0.51	0.53
Operating Profit	-0.27	-0.40	0.46	0.82	0.05	-1.18	-0.04	0.05	0.06	-0.06	0.00	0.00	0.04
OPM %	-8.88%	-11.70%	8.30%	9.90%	1.46%	-39.60%	-3.96%	4.24%	4.44%	-5.83%	0.00%	0.00%	7.02%
	0.00	1.41	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	-0.29	1.01	0.46	0.82	0.05	-1.18	-0.04	0.05	0.06	-0.02	0.00	0.00	0.04
Tax %	0.00%	17.82%	26.09%	25.61%	20.00%	-26.27%	0.00%	0.00%	16.67%	0.00%			25.00%
	-0.29	0.83	0.34	0.60	0.04	-0.87	-0.04	0.05	0.04	-0.02	0.00	0.00	0.03
EPS in Rs	-0.33	0.94	0.39	0.68	0.05	-0.99	-0.05	0.06	0.05	-0.02	0.00	0.00	0.03
Raw PDF

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
	0.21	0.18	0.15	0.24	2.93	5.11	7.82	6.72	6.92	7.72	20.24	4.58	2.52
	0.29	0.40	0.27	0.48	2.66	3.96	7.09	6.34	6.85	8.40	20.09	4.57	2.54
Operating Profit	-0.08	-0.22	-0.12	-0.24	0.27	1.15	0.73	0.38	0.07	-0.68	0.15	0.01	-0.02
OPM %	-38.10%	-122.22%	-80.00%	-100.00%	9.22%	22.50%	9.34%	5.65%	1.01%	-8.81%	0.74%	0.22%	-0.79%
	0.00	0.00	0.01	0.00	0.18	0.00	0.08	0.00	0.00	1.41	0.00	0.04	0.04
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.01	0.01	0.01	0.03	0.03	0.02	0.02	0.06	0.06	0.05	0.00	0.00	0.00
Profit before tax	-0.09	-0.23	-0.12	-0.27	0.42	1.13	0.79	0.32	0.01	0.68	0.15	0.05	0.02
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	22.12%	26.58%	28.12%	0.00%	26.47%	20.00%	40.00%
	-0.08	-0.23	-0.12	-0.27	0.42	0.89	0.58	0.23	0.01	0.50	0.12	0.04	0.01
EPS in Rs	-0.14	-0.40	-0.16	-0.36	0.48	1.01	0.66	0.26	0.01	0.57	0.14	0.05	0.01
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	38%
5 Years:	-10%
3 Years:	-13%
TTM:	-61%

Compounded Profit Growth
10 Years:	7%
5 Years:	-56%
3 Years:	0%
TTM:	96%

Stock Price CAGR
10 Years:	3%
5 Years:	-5%
3 Years:	2%
1 Year:	-9%

Return on Equity
10 Years:	%
5 Years:	-3%
3 Years:	-8%
Last Year:	0%

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	5.76	5.76	7.60	7.60	8.80	8.80	8.80	8.80	8.80	8.80	8.80	8.80	8.80
Reserves	-8.84	-9.07	-9.19	-9.46	-8.44	-7.56	-6.97	-6.75	-6.74	-6.24	-6.11	-6.08	-6.08
	1.54	2.41	0.47	1.03	0.69	0.49	0.79	1.04	1.11	0.00	0.03	0.19	0.16
	2.49	2.01	1.44	1.06	0.92	1.37	1.42	1.10	1.02	0.11	0.24	0.15	0.19
Total Liabilities	0.95	1.11	0.32	0.23	1.97	3.10	4.04	4.19	4.19	2.67	2.96	3.06	3.07
	0.04	0.02	0.08	0.06	0.05	0.02	0.18	0.12	0.05	0.01	0.01	0.01	0.01
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	1.47	1.47	0.25	0.25	0.25	0.25	0.25	0.25
	0.91	1.09	0.24	0.17	1.92	1.61	2.39	3.82	3.89	2.41	2.70	2.80	2.81
Total Assets	0.95	1.11	0.32	0.23	1.97	3.10	4.04	4.19	4.19	2.67	2.96	3.06	3.07

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
	0.11	-0.81	0.26	-0.70	-0.21	0.46	0.11	-1.52	-0.09	1.05	0.06	-0.18
	0.00	0.00	-0.07	0.00	0.01	-1.45	-0.18	1.23	0.00	0.00	0.00	0.00
	-0.15	0.88	-0.10	0.56	1.46	-0.19	0.30	0.25	0.07	-1.11	0.03	0.15
Net Cash Flow	-0.04	0.07	0.08	-0.14	1.26	-1.19	0.23	-0.05	-0.02	-0.05	0.09	-0.03

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	278.10	547.50	146.00	197.71	61.04	93.57	23.34	175.98	133.97	43.02	41.66	193.66
Inventory Days	0.00	0.00	0.00	0.00	0.00	16.29	75.75	0.00	0.00	55.41	0.00	0.00
Days Payable						31.50	77.48			5.04
Cash Conversion Cycle	278.10	547.50	146.00	197.71	61.04	78.36	21.62	175.98	133.97	93.40	41.66	193.66
Working Capital Days	0.00	-60.83	-1,022.00	60.83	53.57	65.71	19.60	119.49	135.56	96.92	38.05	185.69
ROCE %					381.82%	81.29%	36.32%	11.21%	0.32%	-25.48%	5.68%	0.36%

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	84.42%	84.42%	84.41%	84.43%	84.41%	84.42%	84.42%	84.42%	84.42%	84.42%	84.42%	84.41%
No. of Shareholders	20,958	20,873	20,767	20,856	20,927	21,526	21,405	21,443	21,411	21,361	21,327	21,300

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	18.55%	16.02%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%	15.57%
	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	81.43%	83.96%	84.42%	84.42%	84.42%	84.42%	84.42%	84.41%	84.42%	84.41%
No. of Shareholders	20,730	20,679	20,500	20,198	20,637	21,080	20,958	20,927	21,411	21,300

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Mitshi India Ltd

Mitshi India Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports