Master Components Ltd
Incorporated in 1999, Master Components Ltd is in the business of manufacturing of Plastic Engineering Components and sub assemblies[1]
- Market Cap ₹ 145 Cr.
- Current Price ₹ 363
- High / Low ₹ 436 / 258
- Stock P/E 25.6
- Book Value ₹ 81.4
- Dividend Yield 0.14 %
- ROCE 20.2 %
- ROE 15.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 25.2% CAGR over last 5 years
- Company's working capital requirements have reduced from 73.4 days to 52.9 days
Cons
- Promoter holding has decreased over last quarter: -5.58%
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.3.38 Cr.
* 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
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 15.02 | 13.22 | 18.22 | 20.69 | 25.25 | 42.37 | 61.44 | |
| 12.02 | 11.01 | 15.97 | 17.53 | 20.97 | 35.88 | 52.58 | |
| Operating Profit | 3.00 | 2.21 | 2.25 | 3.16 | 4.28 | 6.49 | 8.86 |
| OPM % | 19.97% | 16.72% | 12.35% | 15.27% | 16.95% | 15.32% | 14.42% |
| 0.29 | 0.02 | 0.09 | 0.20 | 0.29 | 3.60 | 3.38 | |
| Interest | 0.43 | 0.27 | 0.18 | 0.11 | 0.07 | 0.19 | 0.43 |
| Depreciation | 0.96 | 0.92 | 0.85 | 0.83 | 0.95 | 1.22 | 1.03 |
| Profit before tax | 1.90 | 1.04 | 1.31 | 2.42 | 3.55 | 8.68 | 10.78 |
| Tax % | 30.53% | 26.92% | 27.48% | 29.34% | 24.79% | 25.23% | |
| 1.32 | 0.76 | 0.94 | 1.71 | 2.68 | 6.49 | 8.06 | |
| EPS in Rs | 44.00 | 25.33 | 31.33 | 5.18 | 6.70 | 16.22 | 20.15 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 23% |
| 3 Years: | 32% |
| TTM: | 95% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 25% |
| 3 Years: | 61% |
| TTM: | 70% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 21% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 16% |
| Last Year: | 16% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.30 | 0.30 | 0.30 | 3.30 | 4.00 | 4.00 | 4.00 |
| Reserves | 7.95 | 8.71 | 9.65 | 8.35 | 19.00 | 25.49 | 28.58 |
| 3.77 | 2.17 | 1.73 | 0.94 | -0.14 | 4.01 | 9.00 | |
| 2.58 | 3.01 | 3.17 | 4.00 | 3.45 | 9.55 | 10.07 | |
| Total Liabilities | 14.60 | 14.19 | 14.85 | 16.59 | 26.31 | 43.05 | 51.65 |
| 7.98 | 7.78 | 7.18 | 7.13 | 10.16 | 24.19 | 26.26 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.86 | 0.61 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 6.62 | 6.41 | 7.67 | 8.60 | 15.54 | 18.86 | 25.39 | |
| Total Assets | 14.60 | 14.19 | 14.85 | 16.59 | 26.31 | 43.05 | 51.65 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 2.03 | 0.80 | 2.60 | 2.08 | 1.68 | ||
| -0.71 | -0.22 | -1.64 | -3.73 | -11.45 | ||
| -1.86 | -0.59 | -0.85 | 7.58 | 3.94 | ||
| Net Cash Flow | -0.54 | -0.01 | 0.11 | 5.94 | -5.83 |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 84.08 | 111.54 | 82.14 | 80.44 | 79.65 | 79.34 |
| Inventory Days | 60.95 | 75.70 | 82.57 | 75.67 | 52.35 | 91.50 |
| Days Payable | 42.06 | 78.02 | 51.54 | 72.33 | 42.12 | 75.92 |
| Cash Conversion Cycle | 102.97 | 109.23 | 113.17 | 83.78 | 89.88 | 94.92 |
| Working Capital Days | 56.14 | 73.99 | 69.31 | 73.92 | 93.53 | 52.89 |
| ROCE % | 11.29% | 13.65% | 20.85% | 20.42% | 20.16% |
Documents
Announcements
-
Amalgamation/Merger
16 November 2025 - Corrects typo: promoters post-scheme 38,84,000 (74.69%); amalgamation share exchange 40:1.
-
Outcome of Board Meeting
16 November 2025 - Correction: Amalgamation details—promoters hold 38,84,000 (74.69%) post-scheme; share exchange 40:1; total shares 52,00,000.
-
Amalgamation/Merger
14 November 2025 - Board approved amalgamation of Master Moulds into Master Components; 40:1 share exchange; approvals (NCLT, SEBI, exchanges) pending.
-
Outcome of Board Meeting
14 November 2025 - Board approved draft scheme to amalgamate Master Moulds into Master Components; 40 shares issued per 1; financials as of 30.09.2025.
-
Appointment
11 November 2025 - Manoj Balwant Gavali appointed Senior Manager—Finance effective 12/11/2025.
Business Overview:[1]
MCL is an IATF 16949:2016 & ISO 9001:2015 certified manufacturer of plastic engineering components and sub-assemblies. It excels in Thermoplastic Injection Moulding, Thermoset Injection Moulding, and Transfer Moulding & Compression Moulding