Modison Ltd

₹ 444 -2.91%

25 Sep - close price

About

Incorporated in 1975, Modison Ltd manufactures Electrical contacts in the LV, MV & HV segments^[1]

Key Points

Business Overview:^[1]
Modison is an ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 accredited company. It has a technical collaboration with DODUCO KG, Pforzheim, Germany, and is one of the few companies globally manufacturing silver electrical contact materials and finished contacts for the Low, Medium, High & Extra High Voltage switchgear industries.

Website BSE NSE - BE

Market Cap ₹ 1,441 Cr.
Current Price ₹ 444
High / Low ₹ 546 / 114
Stock P/E 13.4
Book Value ₹ 84.6
Dividend Yield 1.24 %
ROCE 31.0 %
ROE 32.0 %
Face Value ₹ 1.00

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 25.8% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 36.3%

Cons

Company might be capitalizing the interest cost

* 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 Electrical Equipment Other Electrical Equipment

Part of BSE Industrials

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	86	97	108	114	116	122	121	130	134	145	144	287	270
	79	90	99	104	108	112	110	115	126	127	125	216	220
Operating Profit	7	7	9	9	8	10	11	15	9	18	19	71	50
OPM %	8%	8%	8%	8%	7%	8%	9%	12%	6%	13%	13%	25%	19%
	3	2	-0	2	-4	4	0	2	2	1	13	-18	2
Interest	0	1	1	1	1	2	1	2	2	2	2	3	4
Depreciation	1	1	2	2	2	2	2	2	2	2	2	3	2
Profit before tax	7	8	6	9	2	11	8	13	6	16	27	48	46
Tax %	26%	26%	27%	28%	32%	25%	26%	27%	25%	26%	26%	25%	26%
	6	6	4	6	1	8	6	10	5	12	20	36	34
EPS in Rs	1.70	1.73	1.26	1.90	0.35	2.52	1.79	2.94	1.48	3.59	6.18	11.09	10.43
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	171	168	191	201	219	292	340	335	405	490	710	847
	155	142	159	174	192	252	309	310	372	445	592	688
Operating Profit	17	26	31	27	27	40	30	25	32	45	118	159
OPM %	10%	16%	16%	14%	12%	14%	9%	7%	8%	9%	17%	19%
	0	1	0	4	0	-2	-2	-1	6	2	-3	-2
Interest	4	4	3	2	2	2	2	2	3	6	9	11
Depreciation	7	6	6	6	6	6	7	6	6	8	10	10
Profit before tax	7	17	22	24	19	30	20	15	29	34	97	136
Tax %	31%	37%	35%	30%	20%	25%	26%	27%	27%	26%	25%
	5	11	14	16	15	22	15	11	21	25	73	102
EPS in Rs	1.42	3.35	4.39	5.05	4.66	6.92	4.51	3.45	6.58	7.61	22.35	31.29
Dividend Payout %	53%	30%	23%	30%	21%	22%	22%	29%	38%	46%	25%

Compounded Sales Growth
10 Years:	16%
5 Years:	19%
3 Years:	29%
TTM:	67%

Compounded Profit Growth
10 Years:	22%
5 Years:	26%
3 Years:	83%
TTM:	295%

Stock Price CAGR
10 Years:	25%
5 Years:	45%
3 Years:	77%
1 Year:	178%

Return on Equity
10 Years:	%
5 Years:	15%
3 Years:	19%
Last Year:	32%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3	3	3	3	3	3	3	3	3	3	3
Reserves	94	101	111	124	144	161	173	184	200	213	271
	27	21	18	13	26	12	17	5	32	73	174
	23	19	19	22	18	26	21	29	36	30	54
Total Liabilities	148	145	152	162	191	203	214	222	271	319	503
	57	61	60	60	58	62	70	69	79	92	94
CWIP	2	1	1	1	3	3	3	10	10	4	3
Investments	0	0	0	0	2	2	2	2	2	0	0
	89	83	91	102	128	135	140	141	181	224	405
Total Assets	148	145	152	162	191	203	214	222	271	319	503

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	13	26	12	19	19	24	14	22	-4	-16	-64
	-6	-11	-3	-8	-15	-4	-11	-13	-15	-9	-15
	-6	-15	-9	-10	-3	-21	1	-14	19	24	80
Net Cash Flow	0	-0	-0	0	1	-1	4	-4	0	-0	0
Free Cash Flow	6	17	9	11	5	18	3	10	-20	-32	-79
CFO/OP	93%	121%	66%	91%	94%	77%	69%	110%	12%	-18%	-36%

Ratios

Consolidated / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	65	63	75	76	75	75	62	58	60	64	82
Inventory Days	130	132	120	124	146	104	90	109	109	121	152
Days Payable	11	15	11	16	11	10	9	13	11	9	11
Cash Conversion Cycle	184	180	184	184	209	168	143	154	158	176	223
Working Capital Days	81	90	104	119	126	119	105	117	97	92	91
ROCE %		17%	20%	17%		20%	14%	10%	12%	15%	31%

Insights

In beta

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Mar 2016

Mar 2017

Mar 2018

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Export revenue share
% of total revenue ・Standalone data

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HV segment revenue share
% of total revenue ・Standalone data

Top 5 customer concentration
% of total sales ・Standalone data

Permanent employees
count ・Standalone data

Silver volume dispatched
tonnes ・Standalone data

Unexecuted order book
Rs Crore ・Standalone data

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.16%	52.23%
	0.00%	0.00%	0.41%	0.48%	0.53%	0.48%	0.55%	0.48%	0.48%	0.48%	0.48%	0.92%
	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	47.64%	47.88%	47.47%	47.40%	47.35%	47.39%	47.33%	47.40%	47.40%	47.42%	47.35%	46.84%
No. of Shareholders	14,639	18,205	19,040	18,380	21,670	21,836	21,267	21,115	21,553	21,549	21,079	21,401

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	51.65%	51.65%	51.92%	52.53%	52.78%	52.77%	52.11%	52.11%	52.11%	52.11%	52.16%	52.23%
	0.00%	0.00%	0.15%	0.15%	0.15%	0.09%	0.17%	0.00%	0.41%	0.55%	0.48%	0.92%
	48.35%	48.35%	47.93%	47.32%	47.06%	47.14%	47.71%	47.90%	47.47%	47.33%	47.35%	46.84%
No. of Shareholders	3,783	4,500	6,457	6,171	5,817	7,278	16,927	15,736	19,040	21,267	21,079	21,401

* 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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