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Mukand Ltd (MUKANDLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500460 NSE: MUKANDLTD Steel & Iron Products | Small Cap | Mukand Share Price

₹135.25 -1.90 (-1.39%)

As on 10-Jun'26 16:59

Mukand Ltd (MUKANDLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500460 NSE: MUKANDLTD Steel & Iron Products | Small Cap | Mukand Share Price

₹135.25 -1.90 (-1.39%)

As on 10-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,982 Cr.
Current Price
₹135.3
52-Week Low / High
₹112 / 161
TTM EPS
₹44.4
TTM Sales
₹4,719 Cr.
Book Value per Share
₹117.2
P/E Ratio
3.09
Lower than its 5-year historical median
Industry PE
25
Price to Book (P/B)
1.17
Lower than its 5-year historical median
Price to Sales (P/S)
0.42
In line with its 5-year historical median
EV/EBITDA
4.88
Lower than its 5-year historical median
Dividend Yield
2.22%
Profitability Efficiency
Return on Equity (ROE)
9.34%
Outperforms industry median
Return on Capital Employed (ROCE)
10.54%
Underperforms industry median
Return on Assets (ROA)
2.65%
Operating Profit Margin
5.8%
Net Profit Margin
1.77%
Gross Profit Margin
3.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-5.08%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
23.86%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-16.44%
Asset Quality
Promoter Holding
74.70%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,549 Cr.
Equity
₹144.5 Cr.
Face Value
₹10
All Time Low / High
₹1.69 / 212.50

Mukand stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Mukand Ltd a good quality company?
Mukand Ltd is a average quality company, based on a somewhat consistent 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 Mukand Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Mukand Ltd vs industry peers?
Mukand Ltd revenue CAGR is 11.75%, compared to the industry median CAGR of 7.56%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Mukand Ltd?
Promoters hold 74.70% of the Mukand Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Mukand Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 15.1% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
Mukand Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 9%15.5%9.3%5.3%2.5%12.9%8.3%14.3%10.8%10.5%-
Value Creation
Index
-0.40.1-0.3-0.6-0.8-0.1-0.40.0-0.2-0.3-

Growth Parameters

Sales 2,7312,6673,0703,5882,8182,6814,6435,6185,1754,9124,719
Sales YoY Gr.--2.4%15.1%16.9%-21.4%-4.9%73.2%21%-7.9%-5.1%-
Adj EPS 1.50.94.4-4.9-13.8-27.85.1-14.27.15.644.4
YoY Gr.--40.5%398.9%-210.5%NANANA-379.8%NA-20.3%-
BVPS (₹) 32.625.680.274.560.663.551.26162.566.4117.2
Adj Net
Profit
2112.562-68.6-195-39373.1-20510281.3642
Cash Flow from Ops. 117295764-172121-262-10517491.2168-
Debt/CF from Ops. 23.39.82.6-13.821-7-19.48.716.39.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.7%11.8%1.9%-5.1%
Adj EPS 16%NA3.6%-20.3%
BVPS8.2%1.9%9%6.3%
Share Price 13.2% 3.1% 1.7% 11.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
118.3-6.3-20.4-44.88.9-25.211.48.748.4
Op. Profit
Mgn %
13.212.42.14.93.9-9.75.1-3.14.55.83.7
Net Profit
Mgn %
0.80.52-1.9-6.9-14.71.6-3.621.713.6
Debt to
Equity
5.981.72.3322.81.71.71.60.2
Working Cap
Days
364393329237305308184157168199110
Cash Conv.
Cycle
235241155961581691069510813024

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,7312,6673,0703,5882,8182,6814,6435,6185,1754,912
Operating Expenses + 2,3982,3383,0193,4382,7122,9414,4085,8064,9444,626
Manufacturing Costs9369731,0131,1799037981,2561,4151,3201,257
Material Costs1,1341,0491,7291,9471,5391,8312,9013,9663,3503,071
Employee Cost 171175182208189189202205219226
Other Costs 1561429410481122492205572
Operating Profit 33332851150107-260235-187231286
Operating Profit Margin (%) 12.2%12.3%1.7%4.2%3.8%-9.7%5.1%-3.3%4.5%5.8%
Other Income + 222423127952724386087723
Exceptional Items 00-130000000
Interest 279425267303338307161175131130
Depreciation 74715658756945515051
Profit Before Tax 27426-132-2558866194127129
Tax 163-18-48-5942-2692342
Profit After Tax 21144-84-196469218510487
PAT Margin (%) 0.1%0.4%1.4%-2.3%-6.9%1.7%2.0%3.3%2.0%1.8%
Adjusted EPS (₹)0.10.83.1-6.0-13.83.36.312.87.26.0
Dividend Payout Ratio (%)0%0%0%0%0%30.70%23.70%15.60%27.80%33.20%

Valuation of Mukand - 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 2,1183611,1341,053857897740881903960
Share Capital 147141141141141141145145145145
Reserves 1,971220993912716756596737758815
Debt +2,4642,5971,6582,2292,4611,8201,0361,5051,473134
Long Term Debt1,5821,6497791,5641,8941,7358861,4481,433107
Short Term Debt88294987966556784151564026
Minority Interest0000000000
Trade Payables838864989764775428508541439594
Others Liabilities 4975236113423082441,2432201881,859
Total Liabilities 5,9174,3454,3924,3894,4013,3893,5293,1473,0033,547

Fixed Assets

Net Fixed Assets +2,407693562505516447484447452529
Gross Block3,4371,7691,4741,4691,5501,5411,6041,6001,6501,777
Accumulated Depreciation1,0301,0779129641,0341,0941,1201,1531,1981,248
CWIP 29392323302632303433
Investments 2512671,4281,4531,4297151882751130
Inventories1,4621,3431,1051,2541,3671,1111,4611,4471,5902,008
Trade Receivables1,1161,011310443420517492518532434
Cash Equivalents 656159606736209395326
Others Assets 586932905650572537663392331487
Total Assets 5,9174,3454,3924,3894,4013,3893,5293,1473,0033,547

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 117295764-172121-262-10517491168
PBT 27441-132-2558866194127129
Adjustment 34027641279385-287170-231151169
Changes in Working Capital -217-54704-320-8-80-328215-185-139
Tax Paid -8-5-111-217-13-5-29
Cash Flow From Investing Activity + -31-33898161,35333855888-122
Capex -36-34886-18631-170619-63-105
Net Investments 0-00032715508-61150-18
Others 5122170010
Cash Flow From Financing Activity + -101-260-859153-136-1,071-212-736-165-75
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -277-40668-269-267-323-150-183-121-116
Dividend Paid -00-0-000-14-22-29-29
Others 175145-928422131-749-49-532-1670
Net Cash Flow -152-6-1001921-514-29

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)0.352.735.89-7.69-20.475.2411.1922.8711.669.34
ROCE (%)9.0315.499.275.252.4512.928.2614.3110.8210.54
Asset Turnover Ratio0.530.580.710.820.640.691.341.681.681.5
PAT to CFO Conversion(x)58.526.8217.36N/AN/A-5.7-1.140.940.881.93
Working Capital Days
Receivable Days125.10129.6077.6038.3055.9063.8039.7032.803735.90
Inventory Days171.70170.90143.80120169.80168.70101.1094.40107.10133.70
Payable Days140.90157.80119.50108.60117.7091.8054.8046.6053.4061.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Mukand Ltd FAQs

The current trading price of Mukand on 10-Jun-2026 16:59 is ₹135.2.

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 09-Jun-2026 the market cap of Mukand stood at ₹1,981.8 Cr

The latest P/E ratio of Mukand as of 09-Jun-2026 is 3.09.

The latest P/B ratio of Mukand as of 09-Jun-2026 is 1.17.

The 52-week high of Mukand is ₹160.8 and the 52-week low is ₹112.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mukand is ₹4,719 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Mukand Ltd is a average quality company.

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

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Mukand Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Mukand Ltd

Mukand, incorporated in 1937; is engaged in manufacturing of alloy and stainless steel long products. Earlier known as Mukand Iron & Steel Works; the company operates in four segments namely steel, industrial machinery, road construction and other products.

Mukand is part of Bajaj group of companies. Bajaj Auto is Flagship Company of this group.

Company’s steel plant is located at Kalwe near Mumbai and Hospet, Karnataka. Mukand’s manufacturing facilities are ISO 9000: 2000 certified.

The Company supplies its steel products to customers located in countries such as the United States of America, Germany, Italy, the Netherlands, Switzerland, United Arab Emirates, Japan, Korea, Hong Kong, Taiwan, Vietnam, to mention a few.

The company has offered its products and services to clients like Maruti Udyog, Bajaj Auto, Honda Motor Cycle & Scooter India, Hero Honda Motors, Steel Authority of India, Larsen & Toubro, Defence Research and Development Organisation, Mitsui, General Electric, National Highways Authority of India are among others.

In 2012 the company formed the Joint Venture with Sumitomo Corporation, Japan & sale of Cold Finished Bars & Wires Business to subsidiary, Technosys Metal Processing Ltd.

Business Area

Steel- Under this, it manufactures a wide range of steel and alloy products such as wire rods, rolled products, round bars, hexagons, round corners squares, bright bars, cold finished wires and cast for booms and billets.

Machinery- Under this Mukand manufactures electric overhead travelling (EOT) cranes, electrical level luffing crane, gantry crane, container handling crane, bulk material handling and equipment, process plant equipment.

Turnkey projects- This division undertakes several projects for various organisation such as a 40 metre high mobile service structure for assembly of augmented satellite launching vehicle (ASLV) for Indian Space Research Organization (ISRO); An anode handling and rodding plant for National Aluminium Company are among several others projects.

Road construction- The company undertook construction of two highway projects namely Ashapur-Khaga and Handia-Rajatalao funded by the World Bank.

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