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Millworks Technologies Ltd (544826)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544826 NSE: Engineering - Industrial Equipments | | Millworks Technolog. Share Price

₹744 -14.95 (-1.97%)

As on 29-Jul'26 15:26

Millworks Technologies Ltd (544826)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544826 NSE: Engineering - Industrial Equipments | | Millworks Technolog. Share Price

₹744 -14.95 (-1.97%)

As on 29-Jul'26 15:26

Key Metrics
Valuation Multiples
Market Cap
₹1,337 Cr.
Current Price
₹744
52-Week Low / High
₹629 / 803
TTM EPS
₹21
TTM Sales
₹149 Cr.
Book Value per Share
₹138
P/E Ratio
36.07
In line with its 5-year historical median
Industry PE
53.4
Price to Book (P/B)
5.50
In line with its 5-year historical median
Price to Sales (P/S)
8.99
In line with its 5-year historical median
EV/EBITDA
23.87
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
69.94%
Return on Capital Employed (ROCE)
80.87%
Return on Assets (ROA)
31.48%
Operating Profit Margin
35%
Net Profit Margin
24.91%
Gross Profit Margin
35.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
573.17%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
570.36%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
605.9%
Asset Quality
Promoter Holding
47.18%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹225 Cr.
Equity
₹17.6 Cr.
Face Value
₹10
All Time Low / High
₹628.90 / 802.50

Millworks Technologies stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Weak
Q.1 Is Millworks Technologies Ltd a good quality company?
Millworks Technologies Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Millworks Technologies Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Millworks Technologies Ltd vs industry peers?
Millworks Technologies Ltd revenue CAGR is 338.04%, compared to the industry median CAGR of 12.14%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Millworks Technologies Ltd?
Promoters hold 47.18% of the Millworks Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Millworks Technologies Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Millworks Technologies Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 16.9%56.3%39%80.9%-
Value Creation
Index
0.23.01.84.8-

Growth Parameters

Sales 1.89.422.1149149
Sales YoY Gr.-430.5%135.4%573.2%-
Adj EPS 0.31.94.326.621
YoY Gr.-506.3%123.2%515.2%-
BVPS (₹) 0.42.319.964.7138
Adj Net
Profit
0.325.13437
Cash Flow from Ops. -1.70.6-2.9-10.8-
Debt/CF from Ops. -1.37.8-3.3-1.6-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA338%573.2%
Adj EPS NANA336.6%515.2%
BVPSNANA459.3%225.9%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
86.7143.939.764.220.8
Op. Profit
Mgn %
26.229.735.135NAN
Net Profit
Mgn %
18.420.82322.924.9
Debt to
Equity
6.120.40.2-
Working Cap
Days
02102522260
Cash Conv.
Cycle
04593570

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26
Sales2922149
Operating Expenses + 171497
Manufacturing Costs1237
Material Costs02676
Employee Cost 0248
Other Costs 0126
Operating Profit 03852
Operating Profit Margin (%) 26.2%29.7%35.1%35.0%
Other Income + 0005
Exceptional Items 000-0
Interest 0013
Depreciation 0003
Profit Before Tax 02750
Tax 00213
Profit After Tax 02537
PAT Margin (%) 18.7%20.8%23.8%24.9%
Adjusted EPS (₹)0.31.94.529.0
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Millworks Technolog. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 022383
Share Capital 00013
Reserves 022370
Debt +24815
Long Term Debt0168
Short Term Debt2427
Minority Interest0000
Trade Payables12472
Others Liabilities 02426
Total Liabilities 41140196

Fixed Assets

Net Fixed Assets +021325
Gross Block021328
Accumulated Depreciation0003
CWIP 0122
Investments 0006
Inventories14811
Trade Receivables127139
Cash Equivalents 0021
Others Assets 12911
Total Assets 41140196

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + -21-3-11
PBT 02750
Adjustment 0013
Changes in Working Capital -2-2-10-63
Tax Paid -0-0-1-1
Cash Flow From Investing Activity + -0-3-10-16
Capex -0-3-9-8
Net Investments 00-0-8
Others 00-0-1
Cash Flow From Financing Activity + 221327
Net Proceeds from Shares 00922
Net Proceeds from Borrowing 0162
Interest Paid -0-0-0-3
Dividend Paid 0000
Others 22-06
Net Cash Flow 0-010

Financial Ratio

PARTICULARSMar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/A144.4240.9469.94
ROCE (%)N/A56.2538.9780.87
Asset Turnover Ratio0.471.30.881.26
PAT to CFO Conversion(x)N/A0.5-0.6-0.3
Working Capital Days
Receivable Days141.605071.80178.50
Inventory Days29898.4091.8023.30
Payable Days1,279.60319.10208.10184.90

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Millworks Technologies Ltd FAQs

The current trading price of Millworks Technolog. on 29-Jul-2026 15:26 is ₹744.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Jul-2026 the market cap of Millworks Technolog. stood at ₹1,336.9 Cr

The latest P/E ratio of Millworks Technolog. as of 28-Jul-2026 is 36.07.

The latest P/B ratio of Millworks Technolog. as of 28-Jul-2026 is 5.50.

The 52-week high of Millworks Technolog. is ₹802.5 and the 52-week low is ₹628.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Millworks Technolog. is ₹149 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Millworks Technologies Ltd is a below average quality company.

The key valuation ratios of Millworks Technologies Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Millworks Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Millworks Technologies Ltd

Millworks Technologies was originally incorporated as ‘Millworks Technologies Private Limited’ on November 01, 2021. Thereafter, name of the company was changed from ‘Millworks Technologies Private Limited’ to ‘Millworks Technologies Limited’, consequent to conversion of the company from private to public company, pursuant to a special resolution passed by the shareholders in extra ordinary general meeting of the company held on August 25, 2025 and a fresh certificate of incorporation consequent to conversion of the company was issued by the Registrar of Companies, Central Processing Centre on September 10, 2025. 

It is a precision engineering company engaged in the manufacture of machined components, sheet metal parts, and integrated assemblies used in mission-critical applications across the railways, aerospace, defence, and semiconductor sectors. Its operations are undertaken under Build-to-Print (BTP) and Build-to-Spec (BTS) engagement models and include both full-scope manufacturing as well as job-work arrangements. Under the BTP (Build-to-Print) model, manufacturing is carried out in accordance with customer-provided drawings and technical specifications, while under the BTS (Build-to-Spec) model, customers specify functional and performance requirements and it undertakes manufacturing to meet such specifications. This dual model enables it to support a diverse array of customer needs from strict adherence to design intent to more collaborative, performance-driven development. 

It has developed into a multi-sector engineering enterprise with manufacturing capabilities spanning precision machining, sheet metal fabrication, sub-assembly, and related processes. It primarily supplies to Original Equipment Manufacturers (OEMs). Its quality systems and process controls are designed to meet rigorous industry standards, ensuring that every component and assembly it supplies performs reliably in the most demanding environments. 

Business area of the company

The company is a precision engineering company, specializing in manufacturing machined components, sheet metal parts, and integrated assemblies for mission-critical applications across the railways, aerospace, defence, and semiconductor sectors. 

History and milestones

  • 2021: Incorporation of the company 
  • 2024: Established Unit 2 at B - 165, 4th Main, Peenya 2nd Stage Bangalore
  • 2024: Established Unit 3 at Plot No. 270/2, 3rd Main Road, 4th phase, Peenya Industrial Estate, Peenya Banagalore.
  • 2025: Established Unit 4 at No 77/1, Binnamangala Arisirakante, Village Next to Paragon Factory, Nelamangala, Bangalore.
  • 2025: Conversion of the company from Private Limited to Public Limited Company.
  • 2025: Initiated Acquisition of M/s. Universal Automobile and Dairy Products partnership firm as part of its business line expansion strategy.
  • 2025: Initiated Acquisition of M/s. Hindustan Spring Mfg partnership firm for expansion of business line as part of its business line expansion strategy.

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