MPS Ltd
MPS is a B2B learning and platform solutions company powering education, and research for corporates. MPS has unlocked a new growth trajectory due to the combined effect of lower attention spans, rapid growth in digital consumption, and the recent advances in AI/ML.
- Market Cap ₹ 4,593 Cr.
- Current Price ₹ 2,685
- High / Low ₹ 2,800 / 1,336
- Stock P/E 32.0
- Book Value ₹ 233
- Dividend Yield 3.11 %
- ROCE 43.7 %
- ROE 35.2 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.5%
Cons
- Stock is trading at 11.6 times its book value
- The company has delivered a poor sales growth of 9.45% over past five 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 203 | 224 | 224 | 218 | 224 | 188 | 279 | 284 | 298 | 328 | 351 | 438 | 463 | |
| 127 | 134 | 136 | 135 | 137 | 127 | 186 | 182 | 178 | 187 | 215 | 271 | 276 | |
| Operating Profit | 76 | 90 | 87 | 83 | 86 | 60 | 93 | 102 | 120 | 140 | 136 | 168 | 187 |
| OPM % | 37% | 40% | 39% | 38% | 39% | 32% | 33% | 36% | 40% | 43% | 39% | 38% | 40% |
| 18 | 18 | 18 | 25 | 26 | 18 | 9 | 11 | 9 | 15 | 22 | 15 | 15 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 |
| Depreciation | 5 | 4 | 5 | 8 | 6 | 7 | 12 | 13 | 12 | 11 | 12 | 12 | 12 |
| Profit before tax | 89 | 104 | 101 | 101 | 106 | 70 | 88 | 98 | 117 | 144 | 145 | 169 | 187 |
| Tax % | 34% | 32% | 31% | 32% | 29% | 24% | 31% | 27% | 26% | 26% | 24% | 25% | |
| 59 | 71 | 69 | 68 | 75 | 53 | 61 | 71 | 86 | 106 | 110 | 127 | 139 | |
| EPS in Rs | 31.53 | 37.88 | 37.14 | 36.64 | 40.15 | 28.35 | 33.53 | 41.78 | 50.44 | 62.23 | 64.31 | 74.40 | 81.54 |
| Dividend Payout % | 70% | 58% | 0% | 33% | 62% | 176% | 0% | 72% | 40% | 121% | 129% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 9% |
| 3 Years: | 14% |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 17% |
| 3 Years: | 15% |
| TTM: | 29% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 33% |
| 3 Years: | 36% |
| 1 Year: | 15% |
| Return on Equity | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 28% |
| 3 Years: | 32% |
| Last Year: | 35% |
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 | 19 | 19 | 19 | 19 | 19 | 19 | 18 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 235 | 256 | 326 | 393 | 441 | 323 | 341 | 309 | 335 | 354 | 333 | 381 |
| 0 | 0 | 0 | 0 | 0 | 11 | 12 | 11 | 7 | 4 | 4 | 57 | |
| 25 | 23 | 24 | 27 | 23 | 17 | 67 | 63 | 47 | 34 | 41 | 63 | |
| Total Liabilities | 278 | 298 | 368 | 439 | 483 | 370 | 438 | 400 | 406 | 408 | 395 | 518 |
| 22 | 24 | 26 | 31 | 26 | 30 | 83 | 80 | 74 | 69 | 69 | 90 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 | 0 |
| Investments | 177 | 193 | 253 | 331 | 308 | 195 | 130 | 122 | 131 | 148 | 136 | 223 |
| 80 | 81 | 90 | 78 | 150 | 144 | 225 | 198 | 201 | 190 | 187 | 206 | |
| Total Assets | 278 | 298 | 368 | 439 | 483 | 370 | 438 | 400 | 406 | 408 | 395 | 518 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 50 | 50 | 50 | 70 | 43 | 49 | 77 | 81 | 75 | 82 | 78 | 139 | |
| -150 | -9 | -50 | -71 | -13 | 147 | -37 | 26 | 3 | 11 | 53 | -89 | |
| 104 | -49 | -0 | -0 | -27 | -172 | -49 | -113 | -69 | -92 | -138 | -49 | |
| Net Cash Flow | 3 | -9 | -1 | -0 | 3 | 24 | -9 | -6 | 9 | 1 | -7 | 1 |
| Free Cash Flow | 47 | 43 | 46 | 64 | 41 | 47 | 71 | 78 | 72 | 77 | 70 | 131 |
| CFO/OP | 100% | 97% | 94% | 121% | 84% | 112% | 104% | 111% | 86% | 86% | 84% | 104% |
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 | 59 | 59 | 63 | 60 | 62 | 63 | 75 | 63 | 60 | 54 | 79 | 72 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 59 | 59 | 63 | 60 | 62 | 63 | 75 | 63 | 60 | 54 | 79 | 72 |
| Working Capital Days | 37 | 44 | 69 | 67 | 109 | 123 | 50 | 43 | 69 | 84 | 111 | 77 |
| ROCE % | 47% | 34% | 30% | 23% | 21% | 16% | 24% | 28% | 34% | 39% | 39% | 44% |
Insights
In beta| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Headcount Nos. |
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| North America Revenue Mix % of revenue |
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| Research Solutions / Content Solutions Revenue Mix % of revenue |
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| Top 5 Client Concentration % of revenue |
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| Number of Clients Billed (excl. B2C) Nos. |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
22 Jul - Audio recording of Q1 FY2026-27 earnings conference call uploaded on 22 July 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Jul - Newspaper Publication regarding Court Convened Equity Shareholders and Un-Secured Creditors Meeting on Saturday, 22 August 2026.
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Weblink Letter To The Shareholders For The Court-Convened Meeting
22 Jul - MPS set 22 Aug 2026 shareholder meeting for ADI BPO Services amalgamation.
- Notice Convening Meeting Of Shareholders Of The Company Pursuant To The Order Of Hon''ble NCLT, Chennai Bench 22 Jul
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Announcement under Regulation 30 (LODR)-Scheme of Arrangement
22 Jul - NCLT-convened unsecured creditors meeting for ADI BPO–MPS amalgamation on 22 August 2026 via VC/OAVM.
Annual reports
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Concalls
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Business Segments:[1]
a) Research Solutions (60% in FY26 vs 63% in FY25):[2]
The company’s DigiCorePro platform
provides large-scale peer review, research integrity, and production workflow solutions.
Its Research Integrity Check platform is recognized as a Top Innovator at STM AI Innovation Day 2025. It uses AI-driven tools
to detect research misconduct, including paper mills, identity fraud, and image manipulation. The AJE Digital and Rubriq platform has processed over 1 Mn manuscripts and demonstrated a 52% acceptance rate in controlled trials compared with the 32% STM industry benchmark.
b) Education Solutions (27% in FY26 vs 21% in FY25):[2]
The Unbound Intelligence Assist provides AI-powered clinical decision support integrated
into flagship education platforms like uCentral and Nursing Central. The segment also focuses on accessibility and media asset development, significantly reducing production costs by automating the creation of over 30 Million
accessible media assets annually. Additionally,
its app-based assessment solutions enable
data-driven insights into learner performance
and outcomes.
c) Corporate Learning (13% in FY26 vs 16% in FY25): [2]
This segment offers AI-driven solutions,
including real-time analytics and dash
boards to track learner engagement, performance, and business impact.
Its AI roleplays and simulations
provide adaptive practice environments
that enhance real-world skills through
interactive conversations and feedback. Additionally, BridgeAI enables scalable multilingual translation and localization
of learning content with faster, accurate,
and context-aware capabilities.