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Machhar Industries Ltd (543934)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543934 NSE: Chemicals | Small Cap | Machhar Industries Share Price
₹425 -12.50 (-2.86%)
As on 11-Sep'26 16:59
Machhar Industries Ltd (543934)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543934 NSE: Chemicals | Small Cap | Machhar Industries Share Price
₹425 -12.50 (-2.86%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹31 Cr.
Current Price
₹425
52-Week Low / High
₹221 / 449
TTM EPS
₹10.2
TTM Sales
₹18.1 Cr.
Book Value per Share
₹134.7
P/E Ratio
41.54
Lower than its 5-year historical median
Industry PE
49.5
Price to Book (P/B)
3.16
Higher than its 5-year historical median
Price to Sales (P/S)
1.74
Higher than its 5-year historical median
EV/EBITDA
18.33
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
6.19%
Underperforms industry median
Return on Capital Employed (ROCE)
8.51%
Underperforms industry median
Return on Assets (ROA)
4.34%
Operating Profit Margin
7.3%
Net Profit Margin
3.75%
Gross Profit Margin
7.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-0.77%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
119.23%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
286.67%
Asset Quality
Promoter Holding
50.52%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹9 Cr.
Equity
₹0.7 Cr.
Face Value
₹10
All Time Low / High
₹29.00 / 515.75
Check Before You Invest
M-Cap below 100cr DeciZen not available
Is Machhar Industries Ltd a good quality company?
Machhar Industries Ltd is a quality company, based on a 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 Machhar Industries Ltd performance compare with that of its Peers?
Revenue growth of Machhar Industries Ltd vs industry peers?
Machhar Industries Ltd revenue CAGR is -3.19%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Machhar Industries Ltd?
Promoters hold 50.52% of the Machhar Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Machhar Industries Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 101.43% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Machhar Industries 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'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 5.7% | 3.6% | 9.6% | 11.6% | 5.6% | 8.7% | 4.1% | 8.5% | - |
| Value Creation Index ⓘ | -0.6 | -0.7 | -0.3 | -0.2 | -0.6 | -0.4 | -0.7 | -0.4 | - |
Growth Parameters ⓘ |
|||||||||
| Sales ⓘ | 18.7 | 18.4 | 14.4 | 16.2 | 17.2 | 16.9 | 15.7 | 15.6 | 18 |
| Sales YoY Gr. | - | -1.5% | -21.7% | 12.2% | 6.2% | -1.3% | -7.4% | -0.8% | - |
| Adj EPS ⓘ | 7.1 | 7.6 | 33 | 6.9 | 4.9 | 7.2 | 0.4 | 7.9 | 10.2 |
| YoY Gr. | - | 8.1% | 331.9% | -79.1% | -29.1% | 46.4% | -93.9% | 1695.5% | - |
| BVPS (₹) ⓘ | 150.5 | 155.6 | 142 | 147.8 | 154.1 | 124.5 | 123.9 | 131.2 | 135.1 |
| Adj Net Profit ⓘ | 0.5 | 0.6 | 2.4 | 0.5 | 0.4 | 0.5 | 0 | 0.6 | 1 |
| Cash Flow from Ops. ⓘ | 0.1 | 0.4 | 1 | 0.4 | 0.2 | -0.2 | 0.2 | 1 | - |
| Debt/CF from Ops. ⓘ | 40.7 | 7.2 | 1.5 | 0.3 | 8.7 | -6.7 | 12.2 | 2.4 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 1.6% | -3.2% | -0.8% | ||||
| Adj EPS ⓘ | NA | -24.9% | 17.3% | 1695.5% | ||||
| BVPSⓘ | NA | -1.6% | -5.2% | 5.9% | ||||
| Share Price | - | - | 101.4% | 54.2% | ||||
Key Financial Parameters ⓘ
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.7 | 5 | 22.2 | 4.8 | 3.2 | 5.1 | 0.4 | 6.2 | 7.7 |
| Op. Profit Mgn % ⓘ | 6.2 | 4.5 | 9.9 | 4.8 | 4.6 | 6.5 | 3 | 7.3 | 7.8 |
| Net Profit Mgn % ⓘ | 2.8 | 3.1 | 17 | 3.2 | 2.1 | 3.1 | 0.2 | 3.8 | 4.2 |
| Debt to Equity ⓘ | 0.2 | 0.2 | 0.1 | 0 | 0.2 | 0.1 | 0.3 | 0.3 | - |
| Working Cap Days ⓘ | 0 | 60 | 78 | 71 | 67 | 71 | 87 | 87 | 87 |
| Cash Conv. Cycle ⓘ | 0 | -25 | -27 | -7 | -2 | 12 | 40 | 47 | 59 |
Valuation of Machhar Industries - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|
| Sales | 17.15 | 16.93 | 15.68 | 15.56 |
| Operating Expenses ⓘ + | 16.36 | 15.85 | 15.16 | 14.42 |
| Operating Profit ⓘ | 0.79 | 1.08 | 0.52 | 1.14 |
| Operating Profit Margin (%) | 4.6% | 6.4% | 3.3% | 7.3% |
| Other Income ⓘ + | 0.26 | 0.38 | 0.39 | 0.26 |
| Interest ⓘ | 0.22 | 0.20 | 0.31 | 0.17 |
| Depreciation ⓘ | 0.37 | 0.46 | 0.42 | 0.39 |
| Profit Before Tax ⓘ | 0.45 | 0.81 | 0.19 | 0.84 |
| Tax ⓘ | 0.09 | 0.19 | 0.04 | 0.26 |
| Profit After Tax | 0.36 | 0.62 | 0.15 | 0.58 |
| PAT Margin (%) | 2.1% | 3.7% | 1.0% | 3.8% |
| Adjusted EPS (₹) | 4.9 | 8.4 | 2.1 | 7.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 11.41 | 9.20 | 9.15 | 9.69 | |||||||
| Debt + | 1.40 | 0.77 | 1.96 | 1.91 | |||||||
| Minority Interest | 0 | 0 | 0 | 0 | |||||||
| Trade Payables | 1.20 | 0.69 | 0.58 | 0.70 | |||||||
| Others Liabilities ⓘ | 1.24 | 1.42 | 1.34 | 1.56 | |||||||
| Total Liabilities ⓘ | 15.25 | 12.08 | 13.03 | 13.85 | |||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 8.07 | 5 | 4.76 | 4.80 | |||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | |||||||
| Investments ⓘ | 0.56 | 0.64 | 1.54 | 1.73 | |||||||
| Inventories | 0.19 | 0.40 | 1.01 | 1.23 | |||||||
| Trade Receivables | 0.84 | 1.73 | 1.58 | 1.62 | |||||||
Cash Equivalents 
ⓘ
| 3.57 | 2.59 | 2.80 | 3.54 | |||||||
| Others Assets ⓘ | 2.02 | 1.72 | 1.35 | 0.94 | |||||||
| Total Assets ⓘ | 15.25 | 12.08 | 13.03 | 13.85 | |||||||
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 0.06 | -0.21 | 0.19 | 1.01 |
| Cash Flow From Investing Activity ⓘ + | -1.85 | 0.05 | -0.97 | -0.18 |
| Cash Flow From Financing Activity ⓘ + | 1.54 | -0.82 | 0.98 | -0.08 |
| Net Cash Flow ⓘ | -0.25 | -0.98 | 0.21 | 0.74 |
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.16 | 6.03 | 1.65 | 6.19 | ||||||
| ROCE (%) | 5.1 | 8.56 | 4.55 | 8.51 | ||||||
| Asset Turnover Ratio | 1.12 | 1.24 | 1.25 | 1.16 | ||||||
| PAT to CFO Conversion(x) | 0.17 | -0.34 | 1.27 | 1.74 | ||||||
| Working Capital Days | ||||||||||
| Receivable Days | 17.90 | 27.80 | 38.50 | 37.50 | ||||||
| Inventory Days | 3.90 | 6.30 | 16.30 | 26.20 | ||||||
| Payable Days | 1,401.90 | 195.20 | 85.20 | 80.20 | ||||||
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Machhar Industries Ltd FAQs
The current trading price of Machhar Industries on 11-Sep-2026 16:59 is ₹425.0.
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 10-Sep-2026 the market cap of Machhar Industries stood at ₹31.49 Cr
The latest P/E ratio of Machhar Industries as of 10-Sep-2026 is 41.48.
The latest P/B ratio of Machhar Industries as of 10-Sep-2026 is 3.15.
The 52-week high of Machhar Industries is ₹449.4 and the 52-week low is ₹221.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Machhar Industries is ₹18.14 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Machhar Industries Ltd is a below average quality company.
The key valuation ratios of Machhar Industries 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 Machhar Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Machhar Industries Ltd
Machhar Industries Limited was established in the year 2008 following the de-merger of Anil Chemicals & Industries Limited. It is a prominent public limited company, promoted by the esteemed Machhar Group, a leading industrial house located in Aurangabad, Maharashtra.
The company strives to deliver high-quality products that meet stringent industry standards, ensuring customer satisfaction and compliance with environmental regulations.
Business area of the company
The company operates with two distinct divisions: the chemical division and the automotive division. The chemical division is involved in the production of Ammonium Nitrate, a key raw material for explosive industry. The automotive division is involved in manufacturing and distribution of AdBlue (also known as Diesel Exhaust Fluid - DEF).
Chemical Division: The company is engaged in the manufacturing of various grades of Ammonium Nitrate, a major raw material used for manufacturing of industrial explosives. The manufacturing plant is located at GIDC industrial area, Panoli, near Ankleshwar, Gujarat. Ammonium Nitrate is also used directly as explosives substance by mixing it with fuel oil. This is the most cost effective product used by open cast mines for blasting.
Automotive Division: With the introduction of BS-IV & BS-VI emission standards by the Govt. of India, all diesel vehicles or more are equipped with equipped with SCR technology which helps in the reduction of NOx gases from the exhaust gas. For this technology to work, AdBlue is to be added in vehicle. AdBlue, commonly known as Diesel Exhaust Fluid is a blend of de-ionised water and technical grade urea.
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