Malpani Pipes & Fittings Ltd
Incorporated in 2017, Malpani Pipes and Fittings Limited is engaged in manufacturing high-grade plastic pipes.[1]
- Market Cap ₹ 81.4 Cr.
- Current Price ₹ 75.5
- High / Low ₹ 90.0 / 54.9
- Stock P/E 10.1
- Book Value ₹ 43.3
- Dividend Yield 0.00 %
- ROCE 23.1 %
- ROE 26.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 38.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 62.0 to 129 days.
- Working capital days have increased from 44.2 days to 93.6 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
Industrials Capital Goods Industrial Products Plastic Products - Industrial
Part of BSE SME IPO
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 35 | 82 | 141 | 141 | |
| 33 | 78 | 128 | 126 | |
| Operating Profit | 2 | 4 | 13 | 15 |
| OPM % | 5% | 5% | 9% | 10% |
| 0 | 0 | 0 | 1 | |
| Interest | 1 | 1 | 3 | 3 |
| Depreciation | 0 | 0 | 1 | 1 |
| Profit before tax | 1 | 3 | 10 | 11 |
| Tax % | 25% | 25% | 26% | 26% |
| 1 | 2 | 7 | 8 | |
| EPS in Rs | 4.61 | 10.78 | 30.45 | 7.49 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 59% |
| TTM: | 0% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 109% |
| TTM: | 9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 38% |
| Last Year: | 26% |
Balance Sheet
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 11 |
| Reserves | 2 | 4 | 12 | 36 |
| 9 | 20 | 30 | 30 | |
| 9 | 14 | 16 | 36 | |
| Total Liabilities | 21 | 39 | 61 | 112 |
| 2 | 7 | 7 | 12 | |
| CWIP | 5 | 0 | 3 | 3 |
| Investments | 0 | 0 | 0 | 0 |
| 15 | 32 | 51 | 97 | |
| Total Assets | 21 | 39 | 61 | 112 |
Cash Flows
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 0 | -6 | -6 | -14 | |
| -6 | -1 | -7 | -6 | |
| 5 | 9 | 10 | 20 | |
| Net Cash Flow | 0 | 2 | -2 | 0 |
Ratios
Figures in Rs. Crores
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 66 | 27 | 30 | 129 |
| Inventory Days | 58 | 91 | 91 | 117 |
| Days Payable | 66 | 41 | 32 | 96 |
| Cash Conversion Cycle | 58 | 77 | 88 | 150 |
| Working Capital Days | 19 | 12 | 27 | 94 |
| ROCE % | 22% | 36% | 23% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Sep - Virtual one-on-one meeting with VT Capital on Sept 15, 2025 at 4:00 PM IST.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
8 Sep - Copy of newspaper advertisements relating to 8th Annual Generam Meeting
- Reg. 34 (1) Annual Report. 6 Sep
- Notice Of 8Th Annual General Meeting 6 Sep
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
5 Sep - 05 Sep 2025: Malpani enters sole distributorship with China's Yongkang Gaocheng for BST and Gaocheng Pro brands across India.
Annual reports
Concalls
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Jun 2025TranscriptNotesPPT
** Business Overview[1]
Malpani Pipes & Fittings Limited, ISO 9001:2015 certified and based in Ratlam, Madhya Pradesh, manufactures and trades high-grade plastic pipes and granules. The company offers HDPE, MDPE, LLDPE, Sprinkler, and Drip Pipes, serving various sectors, including irrigation, water supply, sewerage, drainage, and infrastructure. Products are marketed under the "Volstar" **brand.