Mukand Ltd

₹ 137 -2.20%

26 May - close price

About

Mukand Ltd is engaged in manufacturing of special alloy steel, billets, bars, rods, EOT cranes, material handling equipment and other industrial machinery and comprehensive engineering services.^[1]

Key Points

Part of Bajaj Group
The company is a part of the Bajaj Group. ^[1] The group has involvement in various industries like automobiles (2 and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance, etc. Other group companies include Bajaj Auto, Bajaj Electrical, Bajaj Finance, Bajaj Finserv, Bajaj Holdings & investments, etc. ^[2]

Website BSE NSE

Market Cap ₹ 1,982 Cr.
Current Price ₹ 137
High / Low ₹ 162 / 112
Stock P/E 3.09
Book Value ₹ 117
Dividend Yield 1.46 %
ROCE 23.5 %
ROE 48.4 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.17 times its book value
Company has delivered good profit growth of 25.5% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 26.4%
Company has been maintaining a healthy dividend payout of 23.4%

Cons

Tax rate seems low
Earnings include an other income of Rs.567 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

Commodities Metals & Mining Ferrous Metals Iron & Steel

Part of BSE Commodities BSE 1000

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	1,346	1,391	1,381	1,188	1,240	1,189	1,215	1,223	1,059	1,102	1,144	1,298	1,218
	1,715	1,319	1,308	1,125	1,157	1,128	1,145	1,158	1,003	1,055	1,067	1,224	1,242
Operating Profit	-369	72	72	63	83	61	70	64	56	48	77	74	-24
OPM %	-27%	5%	5%	5%	7%	5%	6%	5%	5%	4%	7%	6%	-2%
	554	3	3	6	4	4	10	10	19	41	-1	5	522
Interest	36	33	33	34	31	31	32	30	32	33	36	38	37
Depreciation	14	12	12	12	12	11	13	12	13	13	13	14	14
Profit before tax	134	30	30	24	43	23	34	32	30	42	26	28	447
Tax %	-1%	7%	20%	9%	32%	-12%	22%	49%	42%	20%	39%	38%	-27%
	134	28	24	21	29	26	27	16	17	34	16	17	568
EPS in Rs	9.30	1.91	1.69	1.48	2.02	1.81	1.87	1.13	1.20	2.34	1.10	1.19	39.29
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,819	2,731	2,667	3,070	3,588	2,818	2,681	4,623	5,618	5,175	4,912	4,762
	2,481	2,397	2,316	3,004	3,438	2,712	2,883	4,379	5,771	4,882	4,619	4,587
Operating Profit	339	334	350	66	150	107	-203	244	-153	293	292	175
OPM %	12%	12%	13%	2%	4%	4%	-8%	5%	-3%	6%	6%	4%
	5	21	220	284	79	52	666	39	573	15	17	567
Interest	266	279	425	267	303	338	307	132	175	131	130	145
Depreciation	75	74	71	56	58	75	69	45	51	50	51	54
Profit before tax	2	2	74	26	-132	-255	88	106	194	127	129	543
Tax %	26%	24%	85%	-71%	-36%	-23%	48%	-16%	5%	18%	33%	-17%
	2	2	11	44	-84	-196	46	122	185	104	87	635
EPS in Rs	0.11	0.11	0.79	3.12	-5.95	-13.83	3.25	8.64	12.84	7.20	6.02	43.92
Dividend Payout %	0%	0%	0%	0%	0%	0%	31%	17%	16%	28%	33%	9%

Compounded Sales Growth
10 Years:	6%
5 Years:	12%
3 Years:	-5%
TTM:	-3%

Compounded Profit Growth
10 Years:	80%
5 Years:	25%
3 Years:	57%
TTM:	662%

Stock Price CAGR
10 Years:	14%
5 Years:	3%
3 Years:	3%
1 Year:	13%

Return on Equity
10 Years:	-2%
5 Years:	12%
3 Years:	26%
Last Year:	48%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	141	141	141	141	141	141	141	141	145	145	145	145
Reserves	1,974	1,971	220	993	912	716	756	862	737	758	815	1,549
	2,564	2,739	2,878	1,953	2,376	2,537	1,821	1,764	1,505	1,489	1,559	1,697
	1,118	1,105	1,163	1,295	948	1,015	658	774	797	640	1,016	790
Total Liabilities	5,797	5,957	4,402	4,381	4,378	4,409	3,377	3,541	3,183	3,032	3,535	4,180
	2,448	2,407	693	562	505	516	447	481	447	452	529	456
CWIP	26	29	39	23	23	30	26	32	30	34	33	55
Investments	251	251	267	1,428	1,453	1,429	715	207	275	11	30	259
	3,072	3,270	3,404	2,368	2,397	2,435	2,189	2,822	2,431	2,534	2,943	3,410
Total Assets	5,797	5,957	4,402	4,381	4,378	4,409	3,377	3,541	3,183	3,032	3,535	4,180

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	12	117	295	764	-172	121	-262	-105	174	91	168	-518
	2	-31	-33	89	8	16	1,353	338	558	88	-122	531
	-14	-101	-260	-859	153	-136	-1,071	-212	-736	-165	-75	-20
Net Cash Flow	-0	-15	2	-6	-10	0	19	21	-5	14	-29	-6
Free Cash Flow	-2	81	261	852	-166	103	369	-275	793	28	64	32
CFO/OP	-2%	37%	86%	1,184%	-115%	115%	138%	-38%	-117%	32%	55%	-293%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	128	149	138	37	45	54	70	38	34	38	32	29
Inventory Days	416	471	427	233	235	324	221	182	133	173	239	278
Days Payable	254	270	275	209	143	184	85	62	50	48	71	64
Cash Conversion Cycle	290	350	290	61	137	195	206	157	117	163	200	243
Working Capital Days	84	105	106	-22	52	77	187	55	93	119	20	60
ROCE %	6%	6%	12%	10%	5%	2%	-8%	8%	-7%	11%	10%	24%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Total Steel Production Volume
Metric Tonnes (MT)

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				xxx,xxx	xxx,xxx	xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx
				xxx,xxx	xx,xxx	xx,xxx		xxx,xxx	xxx,xxx	xxx,xxx
							xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
				xxx,xxx		xxx,xxx			xxx,xxx	xxx,xxx
							xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx

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Industrial Machinery Order Book
INR Crore

Alloy Steel Production Volume
Metric Tonnes (MT)

Stainless Steel Production Volume
Metric Tonnes (MT)

Alloy Steel Sales Volume
Metric Tonnes (MT)

Installed Melting Capacity (Stainless Steel - Kalwe)
Metric Tonnes Per Annum (TPA)

Stainless Steel Sales Volume
Metric Tonnes (MT)

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%	74.70%
	0.06%	0.08%	0.32%	0.23%	0.20%	0.22%	0.20%	0.28%	0.14%	0.18%	0.28%	0.26%
	1.52%	1.17%	1.19%	1.56%	1.74%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%	1.10%
	23.72%	24.04%	23.78%	23.50%	23.35%	23.97%	24.00%	23.93%	24.05%	24.01%	23.91%	23.94%
No. of Shareholders	44,839	47,593	49,809	49,481	49,355	52,366	52,088	51,699	51,160	51,390	50,213	49,218

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	71.68%	73.12%	73.71%	74.35%	74.35%	74.72%	74.36%	74.70%	74.70%	74.70%
	0.02%	0.00%	0.09%	0.00%	0.00%	0.07%	0.14%	0.23%	0.28%	0.26%
	5.23%	3.84%	3.82%	3.79%	3.59%	3.59%	2.10%	1.56%	1.10%	1.10%
	23.06%	23.04%	22.38%	21.86%	22.06%	21.62%	23.40%	23.50%	23.93%	23.94%
No. of Shareholders	41,726	41,782	37,696	36,006	33,580	33,096	43,783	49,481	51,699	49,218

* 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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Mukand Ltd

Mukand Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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