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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
₹134.70 0.50 (0.37%)
As on 21-Sep'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
₹134.70 0.50 (0.37%)
As on 21-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,946 Cr.
Current Price
₹134.7
52-Week Low / High
₹115 / 154
TTM EPS
₹43.8
TTM Sales
₹5,123 Cr.
Book Value per Share
₹109.3
P/E Ratio
3.08
Lower than its 5-year historical median
Industry PE
24.8
Price to Book (P/B)
1.23
Lower than its 5-year historical median
Price to Sales (P/S)
0.38
Lower than its 5-year historical median
EV/EBITDA
4.82
Lower than its 5-year historical median
Dividend Yield
2.23%
Profitability Efficiency
Return on Equity (ROE)
48.88%
Return on Capital Employed (ROCE)
23.13%
Return on Assets (ROA)
16.00%
Operating Profit Margin
3.4%
Net Profit Margin
12.36%
Gross Profit Margin
11.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
1.65%
Operating Profit Growth (1 Year)
-
-41.57%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
696.09%
Asset Quality
Promoter Holding
74.70%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,435 Cr.
Equity
₹144.5 Cr.
Face Value
₹10
All Time Low / High
₹1.69 / 212.50
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
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?
Revenue growth of Mukand Ltd vs industry peers?
Mukand Ltd revenue CAGR is 12.40%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
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.
Stock return of Mukand Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 7.7% 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.
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 15.5% | 9.3% | 5.3% | 2.5% | 12.9% | 8.3% | 14.3% | 10.8% | 8.9% | 23.5% | - |
| Value Creation Index ⓘ | 0.1 | -0.3 | -0.6 | -0.8 | -0.1 | -0.4 | 0.0 | -0.2 | -0.4 | 0.7 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 2,667 | 3,070 | 3,588 | 2,818 | 2,681 | 4,643 | 5,618 | 5,175 | 4,685 | 4,762 | 4,936 |
| Sales YoY Gr. | - | 15.1% | 16.9% | -21.4% | -4.9% | 73.2% | 21% | -7.9% | -9.5% | 1.7% | - |
| Adj EPS ⓘ | 0.9 | 4.4 | -4.9 | -13.8 | -27.8 | 5.1 | -14.2 | 7.1 | 3.3 | 18.2 | 46.2 |
| YoY Gr. | - | 398.9% | -210.5% | NA | NA | NA | -379.8% | NA | -53.9% | 460% | - |
| BVPS (₹) ⓘ | 25.6 | 80.2 | 74.5 | 60.6 | 63.5 | 51.2 | 61 | 62.5 | 66.4 | 117.2 | 121.5 |
| Adj Net Profit ⓘ | 12.5 | 62 | -68.6 | -195 | -393 | 73.1 | -205 | 102 | 46.9 | 263 | 668 |
| Cash Flow from Ops. ⓘ | 295 | 764 | -172 | 121 | -262 | -105 | 174 | 91.2 | 168 | -518 | - |
| Debt/CF from Ops. ⓘ | 9.8 | 2.6 | -13.8 | 21 | -7 | -19.4 | 8.7 | 16.3 | 9.3 | -3.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 6.7% | 12.2% | -5.4% | 1.7% | ||||
| Adj EPS ⓘ | 40% | NA | NA | 460% | ||||
| BVPSⓘ | 18.4% | 13.1% | 24.3% | 76.5% | ||||
| Share Price | 7.6% | -0% | -6.8% | -0.8% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1 | 8.3 | -6.3 | -20.4 | -44.8 | 8.9 | -25.2 | 11.4 | 5 | 19.8 | 38.7 |
| Op. Profit Mgn % ⓘ | 12.4 | 2.1 | 4.9 | 3.9 | -9.7 | 5.1 | -3.1 | 4.5 | 5.3 | 3.5 | 2.6 |
| Net Profit Mgn % ⓘ | 0.5 | 2 | -1.9 | -6.9 | -14.7 | 1.6 | -3.6 | 2 | 1 | 5.5 | 13.5 |
| Debt to Equity ⓘ | 8 | 1.7 | 2.3 | 3 | 2 | 2.8 | 1.7 | 1.7 | 1.6 | 1 | - |
| Working Cap Days ⓘ | 393 | 329 | 237 | 305 | 308 | 184 | 157 | 168 | 208 | 240 | 110 |
| Cash Conv. Cycle ⓘ | 241 | 155 | 96 | 158 | 169 | 106 | 95 | 108 | 136 | 155 | 24 |
Valuation of Mukand - 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,713 | 3,436 | 3,689 | 2,923 | 2,726 | 4,643 | 5,568 | 5,175 | 4,890 | 4,890 |
| Operating Expenses ⓘ + | 2,378 | 3,245 | 3,542 | 2,798 | 3,177 | 4,410 | 5,761 | 4,944 | 4,610 | 4,726 |
| Operating Profit ⓘ | 334 | 191 | 148 | 124 | -451 | 233 | -194 | 231 | 280 | 164 |
| Operating Profit Margin (%) | 12.3% | 5.5% | 4.0% | 4.3% | -16.5% | 5.0% | -3.5% | 4.5% | 5.7% | 3.3% |
| Other Income ⓘ + | 59 | 66 | 60 | 68 | 750 | 114 | 602 | 77 | 18 | 561 |
| Interest ⓘ | 294 | 473 | 327 | 364 | 332 | 161 | 177 | 131 | 130 | 150 |
| Depreciation ⓘ | 72 | 158 | 58 | 75 | 69 | 45 | 52 | 50 | 51 | 62 |
| Profit Before Tax ⓘ | 42 | 920 | -158 | -296 | -155 | 151 | 172 | 127 | 118 | 512 |
| Tax ⓘ | 53 | 99 | -43 | -57 | 49 | -25 | 0 | 23 | 42 | -92 |
| Profit After Tax | -11 | 821 | -115 | -240 | -204 | 176 | 172 | 104 | 76 | 604 |
| PAT Margin (%) | -0.4% | 23.9% | -3.1% | -8.2% | -7.5% | 3.8% | 3.1% | 2.0% | 1.6% | 12.4% |
| Adjusted EPS (₹) | -0.8 | 58.1 | -8.2 | -17.0 | -14.4 | 12.2 | 11.9 | 7.2 | 5.3 | 41.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | -6.90% | 12.30% | 16.80% | 27.80% | 38.10% | 7.20% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 314 | 1,080 | 915 | 671 | 463 | 666 | 854 | 905 | 950 | 1,522 | |
| Debt + | 2,698 | 1,830 | 2,428 | 2,679 | 2,074 | 1,036 | 1,505 | 1,473 | 1,559 | 1,697 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 867 | 983 | 762 | 762 | 428 | 508 | 536 | 440 | 595 | 562 | |
| Others Liabilities ⓘ | 501 | 565 | 371 | 347 | 285 | 1,259 | 250 | 187 | 450 | 216 | |
| Total Liabilities ⓘ | 4,380 | 4,458 | 4,476 | 4,458 | 3,249 | 3,470 | 3,144 | 3,005 | 3,554 | 3,996 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 693 | 562 | 505 | 516 | 447 | 484 | 488 | 452 | 537 | 628 | |
| CWIP ⓘ | 39 | 23 | 23 | 30 | 26 | 32 | 30 | 34 | 142 | 98 | |
| Investments ⓘ | 133 | 1,268 | 1,287 | 1,214 | 528 | 128 | 159 | 10 | 29 | 40 | |
| Inventories | 1,343 | 1,105 | 1,254 | 1,367 | 1,111 | 1,461 | 1,549 | 1,590 | 2,008 | 2,402 | |
| Trade Receivables | 1,021 | 294 | 455 | 418 | 517 | 492 | 463 | 533 | 427 | 423 | |
| Cash Equivalents | 69 | 67 | 69 | 78 | 46 | 210 | 42 | 53 | 26 | 20 | |
| Others Assets ⓘ | 1,081 | 1,138 | 883 | 834 | 574 | 663 | 413 | 333 | 385 | 386 | |
| Total Assets ⓘ | 4,380 | 4,458 | 4,476 | 4,458 | 3,249 | 3,470 | 3,144 | 3,005 | 3,554 | 3,996 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 319 | 894 | -56 | 150 | -328 | -102 | 106 | 65 | 180 | -441 |
| Cash Flow From Investing Activity ⓘ + | -36 | 88 | 7 | 12 | 1,345 | 280 | 619 | 99 | -124 | 472 |
| Cash Flow From Financing Activity ⓘ + | -283 | -987 | 40 | -159 | -997 | -166 | -728 | -152 | -86 | -37 |
| Net Cash Flow ⓘ | -0 | -5 | -9 | 2 | 20 | 12 | -3 | 12 | -29 | -6 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -4.38 | 117.8 | -11.58 | -30.26 | -35.97 | 31.23 | 22.6 | 11.81 | 8.18 | 48.88 |
| ROCE (%) | 10.57 | 42.87 | 5.03 | 1.95 | 5.96 | 11.91 | 13.8 | 10.87 | 10.11 | 23.13 |
| Asset Turnover Ratio | 0.58 | 0.8 | 0.83 | 0.65 | 0.71 | 1.38 | 1.68 | 1.68 | 1.49 | 1.3 |
| PAT to CFO Conversion(x) | N/A | 1.09 | N/A | N/A | N/A | -0.58 | 0.62 | 0.63 | 2.37 | -0.73 |
| Working Capital Days | ||||||||||
| Receivable Days | 131.10 | 68 | 37.10 | 54.50 | 62.60 | 39.70 | 31.30 | 35.10 | 35.80 | 31.70 |
| Inventory Days | 170.40 | 126.60 | 116.70 | 163.70 | 165.90 | 101.10 | 98.70 | 110.70 | 134.30 | 164.60 |
| Payable Days | 139.50 | 112.50 | 104 | 110.50 | 88.80 | 54.80 | 47 | 53.20 | 61.90 | 67 |
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Announcements
Mukand Ltd FAQs
The current trading price of Mukand on 21-Sep-2026 16:59 is ₹134.7.
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 20-Sep-2026 the market cap of Mukand stood at ₹1,946.4 Cr
The latest P/E ratio of Mukand as of 20-Sep-2026 is 2.91.
The latest P/B ratio of Mukand as of 20-Sep-2026 is 1.11.
The 52-week high of Mukand is ₹154.2 and the 52-week low is ₹114.7.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mukand is ₹4,936 ( 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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