Mukand Ltd
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]
- Market Cap ₹ 1,914 Cr.
- Current Price ₹ 132
- High / Low ₹ 162 / 84.4
- Stock P/E 20.8
- Book Value ₹ 66.4
- Dividend Yield 1.51 %
- ROCE 10.4 %
- ROE 9.04 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 25.5%
- Company's working capital requirements have reduced from 77.2 days to 19.6 days
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 11.8% over past five years.
- Company has a low return on equity of -6.12% over last 3 years.
* 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 SmallCap BSE Allcap BSE Commodities
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,533 | 2,819 | 2,731 | 2,667 | 3,070 | 3,588 | 2,818 | 2,681 | 4,643 | 5,618 | 5,175 | 4,912 | 4,736 | |
| 2,378 | 2,481 | 2,397 | 2,316 | 3,004 | 3,438 | 2,712 | 2,883 | 4,403 | 5,771 | 4,882 | 4,619 | 4,483 | |
| Operating Profit | 155 | 339 | 334 | 350 | 66 | 150 | 107 | -203 | 240 | -153 | 293 | 292 | 252 |
| OPM % | 6% | 12% | 12% | 13% | 2% | 4% | 4% | -8% | 5% | -3% | 6% | 6% | 5% |
| 34 | 5 | 21 | 220 | 284 | 79 | 52 | 666 | 32 | 573 | 15 | 17 | 57 | |
| Interest | 244 | 266 | 279 | 425 | 267 | 303 | 338 | 307 | 161 | 175 | 131 | 130 | 129 |
| Depreciation | 67 | 75 | 74 | 71 | 56 | 58 | 75 | 69 | 45 | 51 | 50 | 51 | 52 |
| Profit before tax | -123 | 2 | 2 | 74 | 26 | -132 | -255 | 88 | 66 | 194 | 127 | 129 | 128 |
| Tax % | -28% | 26% | 24% | 85% | -71% | -36% | -23% | 48% | -39% | 5% | 18% | 33% | |
| -88 | 2 | 2 | 11 | 44 | -84 | -196 | 46 | 92 | 185 | 104 | 87 | 92 | |
| EPS in Rs | -6.22 | 0.11 | 0.11 | 0.79 | 3.12 | -5.95 | -13.83 | 3.25 | 6.48 | 12.84 | 7.20 | 6.02 | 6.38 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 31% | 24% | 16% | 28% | 33% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 12% |
| 3 Years: | 2% |
| TTM: | -5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 32% |
| 5 Years: | 19% |
| 3 Years: | 6% |
| TTM: | -8% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 23% |
| 3 Years: | 7% |
| 1 Year: | -5% |
| Return on Equity | |
|---|---|
| 10 Years: | -8% |
| 5 Years: | -16% |
| 3 Years: | -6% |
| Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 141 | 141 | 141 | 141 | 141 | 141 | 141 | 141 | 145 | 145 | 145 | 145 |
| Reserves | 1,985 | 1,974 | 1,971 | 220 | 993 | 912 | 716 | 756 | 596 | 737 | 758 | 815 |
| 2,312 | 2,564 | 2,739 | 2,878 | 1,953 | 2,376 | 2,537 | 1,821 | 2,036 | 1,505 | 1,489 | 1,559 | |
| 1,141 | 1,118 | 1,105 | 1,163 | 1,295 | 948 | 1,015 | 658 | 822 | 797 | 640 | 1,016 | |
| Total Liabilities | 5,579 | 5,797 | 5,957 | 4,402 | 4,381 | 4,378 | 4,409 | 3,377 | 3,598 | 3,183 | 3,032 | 3,535 |
| 2,486 | 2,448 | 2,407 | 693 | 562 | 505 | 516 | 447 | 484 | 447 | 452 | 529 | |
| CWIP | 50 | 26 | 29 | 39 | 23 | 23 | 30 | 26 | 32 | 30 | 34 | 33 |
| Investments | 251 | 251 | 251 | 267 | 1,428 | 1,453 | 1,429 | 715 | 188 | 275 | 11 | 30 |
| 2,792 | 3,072 | 3,270 | 3,404 | 2,368 | 2,397 | 2,435 | 2,189 | 2,894 | 2,431 | 2,534 | 2,943 | |
| Total Assets | 5,579 | 5,797 | 5,957 | 4,402 | 4,381 | 4,378 | 4,409 | 3,377 | 3,598 | 3,183 | 3,032 | 3,535 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -26 | 12 | 117 | 295 | 764 | -172 | 121 | -262 | -105 | 174 | 91 | 168 | |
| -19 | 2 | -31 | -33 | 89 | 8 | 16 | 1,353 | 338 | 558 | 88 | -122 | |
| 50 | -14 | -101 | -260 | -859 | 153 | -136 | -1,071 | -212 | -736 | -165 | -75 | |
| Net Cash Flow | 4 | -0 | -15 | 2 | -6 | -10 | 0 | 19 | 21 | -5 | 14 | -29 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 130 | 128 | 149 | 138 | 37 | 45 | 54 | 70 | 39 | 34 | 38 | 32 |
| Inventory Days | 386 | 416 | 471 | 427 | 233 | 235 | 324 | 221 | 184 | 133 | 173 | 239 |
| Days Payable | 280 | 254 | 270 | 275 | 209 | 143 | 184 | 85 | 64 | 50 | 48 | 71 |
| Cash Conversion Cycle | 236 | 290 | 350 | 290 | 61 | 137 | 195 | 206 | 159 | 117 | 163 | 200 |
| Working Capital Days | 29 | 84 | 105 | 106 | -22 | 52 | 77 | 187 | 41 | 93 | 119 | 20 |
| ROCE % | 3% | 6% | 6% | 12% | 10% | 5% | 2% | -8% | 7% | -7% | 11% | 10% |
Documents
Announcements
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Intimation Regarding Execution Of Business Transfer Agreement With Mukand Heavy Engineering Limited, Wholly Owned Subsidiary Of Mukand Limited For Transfer Of Part Of Industrial Machinery Business Via Slump Sale
18 Oct - On Oct 18, 2025 Mukand transfers industrial machinery business (EOT cranes) to wholly-owned MHEL via slump sale; shares consideration.
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Board Meeting Intimation for Board Meeting Intimation For Approval Of Unaudited Financial Results For The Quarter And Six Months Ended September 30, 2025
13 Oct - Board meeting Nov 12, 2025 to approve unaudited results; trading window Oct 1–Nov 14, 2025.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Oct - Compliance Certificate under Regulation 74 (5) of SEBI (Depositories Participants) for the quarter ended September, 2025.
- Closure of Trading Window 23 Sep
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Announcement under Regulation 30 (LODR)-Credit Rating
14 Aug - CRISIL reaffirms Mukand's bank facilities and fixed deposit ratings as BBB+/Stable and A2 for Rs.1585 crore.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
from nse
Concalls
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Jul 2021TranscriptNotesPPT
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]