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 ₹ 142 Cr.
- Current Price ₹ 356
- High / Low ₹ 425 / 255
- Stock P/E 34.7
- Book Value ₹ 73.7
- 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
- Earnings include an other income of Rs.3.60 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 | |
|---|---|---|---|---|---|---|
| 15.02 | 13.22 | 18.22 | 20.69 | 25.25 | 42.37 | |
| 12.02 | 11.01 | 15.97 | 17.53 | 20.97 | 35.88 | |
| Operating Profit | 3.00 | 2.21 | 2.25 | 3.16 | 4.28 | 6.49 | 
| OPM % | 19.97% | 16.72% | 12.35% | 15.27% | 16.95% | 15.32% | 
| 0.29 | 0.02 | 0.09 | 0.20 | 0.29 | 3.60 | |
| Interest | 0.43 | 0.27 | 0.18 | 0.11 | 0.07 | 0.19 | 
| Depreciation | 0.96 | 0.92 | 0.85 | 0.83 | 0.95 | 1.22 | 
| Profit before tax | 1.90 | 1.04 | 1.31 | 2.42 | 3.55 | 8.68 | 
| 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 | |
| EPS in Rs | 44.00 | 25.33 | 31.33 | 5.18 | 6.70 | 16.22 | 
| 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: | 68% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 25% | 
| 3 Years: | 61% | 
| TTM: | 53% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | % | 
| 1 Year: | 39% | 
| 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 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.30 | 0.30 | 0.30 | 3.30 | 4.00 | 4.00 | 
| Reserves | 7.95 | 8.71 | 9.65 | 8.35 | 19.00 | 25.49 | 
| 3.77 | 2.17 | 1.73 | 0.94 | -0.14 | 4.01 | |
| 2.58 | 3.01 | 3.17 | 4.00 | 3.45 | 9.55 | |
| Total Liabilities | 14.60 | 14.19 | 14.85 | 16.59 | 26.31 | 43.05 | 
| 7.98 | 7.78 | 7.18 | 7.13 | 10.16 | 24.19 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.86 | 0.61 | 0.00 | 
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 
| 6.62 | 6.41 | 7.67 | 8.60 | 15.54 | 18.86 | |
| Total Assets | 14.60 | 14.19 | 14.85 | 16.59 | 26.31 | 43.05 | 
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
          
            28 October 2025 - Company withdrew Oct 28, 2025 NSE application to amalgamate Master Moulds; will refile after updated audited financials.
- 
        
          Certificate under SEBI (Depositories and Participants) Regulations, 2018
          
            13 October 2025 - Certificate under Reg 74(5) for quarter ended Sep 30, 2025; non‑applicable (certificate dated Oct 08, 2025).
- 
        
          Memorandum of Understanding/Agreements
          
            5 October 2025 - Master Components signed MoU with Prathamesh Industries on Oct 4, 2025 to propose JV for SMC/DMC manufacturing.
- 
        
          Amalgamation/Merger
          
            30 September 2025 - Board approved Sep 30, 2025 amalgamation; 41:1 share exchange; post-scheme total 52,30,000 shares.
- 
        
          Outcome of Board Meeting
          
            30 September 2025 - Board approved draft amalgamation; 41 shares for 1; promoters 74.84%.
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