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Modison Ltd (MODISONLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506261 NSE: MODISONLTD Electric Equipment | Small Cap | Modison Share Price

₹307.95 0.00 (0.00%)

As on 02-Jul'26 16:59

Modison Ltd (MODISONLTD)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 506261 NSE: MODISONLTD Electric Equipment | Small Cap | Modison Share Price

₹307.95 0.00 (0.00%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹999 Cr.
Current Price
₹308
52-Week Low / High
₹114 / 365
TTM EPS
₹22.4
TTM Sales
₹710 Cr.
Book Value per Share
₹84.5
P/E Ratio
13.77
Lower than its 5-year historical median
Industry PE
55.8
Price to Book (P/B)
3.64
Higher than its 5-year historical median
Price to Sales (P/S)
1.41
Higher than its 5-year historical median
EV/EBITDA
9.45
In line with its 5-year historical median
Dividend Yield
1.79%
Profitability Efficiency
Return on Equity (ROE)
29.58%
Outperforms industry median
Return on Capital Employed (ROCE)
28.76%
Outperforms industry median
Return on Assets (ROA)
17.65%
Operating Profit Margin
16.7%
Net Profit Margin
10.21%
Gross Profit Margin
16.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
44.89%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
169.04%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
193.96%
Asset Quality
Promoter Holding
52.16%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹271 Cr.
Equity
₹3.3 Cr.
Face Value
₹1
All Time Low / High
₹0.42 / 365.00

Modison 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 Modison Ltd a good quality company?
Modison Ltd is a good quality company, based on a consistently good 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 Modison Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Modison Ltd vs industry peers?
Modison Ltd revenue CAGR is 17.46%, compared to the industry median CAGR of 13.01%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Modison Ltd?
Promoters hold 52.16% of the Modison Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Modison Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 12.5% 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.
Modison 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 19.5%18.8%18%12.7%18.4%11.9%8.9%15%15.1%28.8%-
Value Creation
Index
0.40.30.3-0.10.3-0.2-0.40.10.11.1-

Growth Parameters

Sales 191201220219292340335405490710710
Sales YoY Gr.-5.5%9.5%-0.5%33.2%16.2%-1.4%20.9%21.2%44.9%-
Adj EPS 4.54.24.54.97.65.13.85.57.523.222.4
YoY Gr.--6.2%7.6%7.9%54.7%-33.3%-25.5%45.9%37.1%207.7%-
BVPS (₹) 35.23942.345.250.654.157.562.666.684.584.5
Adj Net
Profit
14.613.714.715.924.616.412.317.924.575.373
Cash Flow from Ops. 12.518.63.819.323.814.422.51.2-16.1-64.2-
Debt/CF from Ops. 1.50.75.61.30.51.20.225.6-4.5-2.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15.7%19.5%28.5%44.9%
Adj EPS 20%25.1%83.3%207.7%
BVPS10.2%10.8%13.7%26.9%
Share Price 18.5% 31.5% 64.1% 83.7%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
13.411.311.111.215.89.76.89.111.730.726.5
Op. Profit
Mgn %
16.513.513.512.413.797.38.1916.716.5
Net Profit
Mgn %
7.76.86.77.38.44.83.74.4510.610.2
Debt to
Equity
0.20.10.20.20.10.100.20.30.60
Working Cap
Days
14916818120316314515014415016170
Cash Conv.
Cycle
12214215316813312313012313214534

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales191201220219292340335405490710
Operating Expenses + 159174191192252309310373446592
Manufacturing Costs15161617161819232525
Material Costs127139153152211266263320386529
Employee Cost 12131416171920212527
Other Costs 667787781011
Operating Profit 312730274030253244118
Operating Profit Margin (%) 16.5%13.5%13.4%12.4%13.7%9.0%7.3%7.9%8.9%16.6%
Other Income + 1213221156
Exceptional Items -033-3-4-4-36-1-8
Interest 3222222369
Depreciation 66666766810
Profit Before Tax 22242419302015293497
Tax 87847548924
Profit After Tax 14161715221511212573
PAT Margin (%) 7.5%8.2%7.6%6.9%7.7%4.3%3.3%5.3%5.0%10.2%
Adjusted EPS (₹)4.45.15.14.76.94.53.46.67.622.4
Dividend Payout Ratio (%)22.80%29.70%29.20%21.50%21.70%22.20%29%38%46%24.60%

Valuation of Modison - 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 114127138147165176187203217275
Share Capital 3333333333
Reserves 111124134144161173184200213271
Debt +18132125121753272173
Long Term Debt0100000022
Short Term Debt18122025121753270171
Minority Interest0000000000
Trade Payables4645679101016
Others Liabilities 16171714211420262139
Total Liabilities 152162180191203214222271319503

Fixed Assets

Net Fixed Assets +58585656606765768992
Gross Block6470758090103107123145155
Accumulated Depreciation6121824303642475563
CWIP 111333101043
Investments 2224222200
Inventories4247656160657996127220
Trade Receivables394242456058536686160
Cash Equivalents 2223041111
Others Assets 8101220171512201226
Total Assets 152162180191203214222271319503

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 12194192414221-16-64
PBT 22242419302015293497
Adjustment 87891081161128
Changes in Working Capital -10-6-21-2-9-70-26-53-167
Tax Paid -8-6-8-6-7-7-5-8-8-22
Cash Flow From Investing Activity + -3-8-4-15-4-11-12-21-9-15
Capex -3-8-4-14-5-11-12-16-15-15
Net Investments -10-0-11-00-02-1
Others 0000000-550
Cash Flow From Financing Activity + -9-100-3-211-14192480
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000000000
Interest Paid -2-1-2-2-2-2-1-2-5-7
Dividend Paid -4-4-6-6-5-30-5-11-15
Others -3-585-146-122741102
Net Cash Flow 00-11-14-40-00

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)13.0813.6312.6510.6514.448.616.1710.9511.7729.58
ROCE (%)19.5118.817.9812.7218.3711.98.9115.0215.0928.76
Asset Turnover Ratio1.41.311.291.181.491.631.541.641.661.73
PAT to CFO Conversion(x)0.861.190.241.271.090.9320.05-0.64-0.88
Working Capital Days
Receivable Days59.8072.2069.7072.6065.6063.4060.4053.7056.7063.20
Inventory Days71.7078.9092.60104.3075.3067.4078.5078.8083.2089.20
Payable Days11.9012.2011.80119.208.601110.909.208.70

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

Modison Ltd FAQs

The current trading price of Modison on 02-Jul-2026 16:59 is ₹307.9.

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 01-Jul-2026 the market cap of Modison stood at ₹999.3 Cr

The latest P/E ratio of Modison as of 01-Jul-2026 is 13.77.

The latest P/B ratio of Modison as of 01-Jul-2026 is 3.64.

The 52-week high of Modison is ₹365.0 and the 52-week low is ₹114.5.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Modison is ₹710 ( Cr.) .

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

The key valuation ratios of Modison 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 Strong which suggest that the price of Modison Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Modison Ltd

Modison was established in 1965 by Girdhari Lal Modi (G.L. Modi) as a trading enterprise focused on tool steels and the export of engineering goods and general merchandise. Recognizing opportunities in precious metals, the company ventured into silver refining in 1975 and set up its first manufacturing facility in Mumbai (then known as Bombay). Within a short span, Modison emerged as a key exporter of refined silver to leading banks and dealers across Europe and the United States. A landmark achievement in the company's early journey was its pivotal role in establishing the status of '999' Good Delivery Silver Bars in India, setting high-quality benchmarks for bullion trading in the domestic market.

Building on its metallurgical expertise, Modison identified a significant opportunity in the electrical switchgear sector. In 1977, the company diversified into the manufacturing of electrical contacts and contact materials, introducing production lines for silver and silver-alloy wires, plates, strips, and solid/bimetal contacts. This strategic expansion laid the foundation for Modison 's long-standing presence in the electrical contact manufacturing industry.

Currently, Modison is recognized as a leading manufacturer of electrical contacts catering to the low-, medium-, and high-voltage switchgear industries. The company serves a diverse customer base across the power distribution and electrical infrastructure, automotive, railway, aerospace, marine, defence, engineering, and pharmaceutical sectors, while maintaining a growing presence in international markets.

Modison's journey reflects its enduring commitment to quality, innovation, and customer-centric growth. The company is accredited with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications.

Business area of the company

The company is a globally manufacturing silver electrical contact materials and finished contacts for Low, Medium, High & Extra High Voltage switchgear industry. 

Products & Services

Electrical Contacts

  • Low Voltage Electrical Contacts
  • Medium & High Voltage Electrical Contacts
  • Precious Metal Compounds

Silver Bullion

Value Added Services

Milestones/ Awards/ Achievements

1965: 

  • Established silver refining facility in Mumbai

1975: 

  • Founded as a trading unit for engineering exports

1978: 

  • Started manufacturing electrical contacts and contact materials at Vapi

1983-85:

  • Technical collaboration with Doduco for AgCdo (ZH) contacts
  • Supplied ZH contacts to L&T
  • Sole Indian co. to mfg. LV, MV, HV

1986-87:

  • Collaboration with Doduco for AgW and CuW contact tips for ACBs and MCCBs

1989-91:

  • Technology transfer for complete HV contacts from Doduco
  • Developed own copper chrome alloy for HV contacts

1991-95:

  • All HV contacts type tested and approved
  • Acquired 100% market share of HV contacts 

2002-03:

  • Major capex for HV capacity increase
  • GOI approved R&D Dept.

2007-08:

  • Shifted HV plant to a new building
  • Started steel backed button contacts; imported plant from Italy

2009-10:

  • Installed automatic contact welding and forming line

2011:

  • Developed high performance current carrying contacts
  • Developed silver compound business

2013:

  • Certificate of Excellence in recognition of exemplary growth.

2014:

  • Modison Emerges as ‘Top 3’ in Emerging India Awards by CNBC- TV18 & CRISIL.

2022: 

  • ABB - Supplier Summit 2022 Award
  • Modison Government College - Foundation Stone Ceremony at Fetehpur
  • MOU between Modison Charitable Trust & Commissioner of College Education Department, Jaipur Rajasthan

2023:

  • Certificate of Appreciation from Siemens Energy
  • Presence of Modison in India Silver Conference 2023
  • Incorporated a wholly owned subsidiary company named as ‘Modison Hitech’ on July 14, 2023 to carry on the business of manufacture of other electrical equipment, processors and dealers in medium and high voltage electrical contacts, contacts for other industries, products for automative, engineering, aerospace, marine, defence and railway.  

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