MUKANDLTDIndustrials

Mukand Limited

Iron & Steel Products · ISIN INE304A01026 · BSE 500460 · NSE EQ · FV ₹10
Last price
₹134
-0.51%today
What this company does

Mukand Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹1,362 cr of revenue in its latest quarter (Q1 FY27) and kept 4.2% of sales as profit.

ROOTED IN HERITAGE. DRIVEN BY INNOVATION. Mukand Limited, a name synonymous with engineering excel- try requirements. A robust quality management system and lence and metallurgical innovation, has been at the heart of adherence to global standards have helped Mukand earn the India’s industrial journey for over eight decades. Established trust of customers in over 25 countries.
In the report:
55out of 100
Equitytale Health Score
Mixed

Healthier than 55% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
42

At close. Not part of the score.

Profitability & returns61

How much profit it earns on the money it employs

Balance sheet21

How much it owes, and whether earnings cover the interest

Cash quality27

Whether reported profit actually arrives as cash

Growth & consistency59

Whether sales and profit have grown, and how steadily

Valuation84

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 21% vs last year
Profit up 98% vs last year
Promoters hold 75%
No promoter shares pledged
Strong 15% return on equity
Watch-outs
! Thin 4.2% net margin
! Carries high debt (D/E 1.1)
! Operating cash flow is negative

What if I invest in MUKANDLTD?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹134 -0.51%
latest close · 2026-09-17
1-year return
-7.3%
52-wk low ₹9852-wk high ₹165
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio8.5Low
LowAverageHigh
P/B ratio1.27Moderate
Below bookModerateHigh
EV / EBITDA8.1Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity15.1%Strong
WeakFairStrong ▸15%
Return on capital20.3%Strong
WeakFairStrong
Net margin4.2%Thin
ThinDecentStrong
EBITDA margin8.2%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.11High
LowModerateHigh ▸1
Interest cover2.8×Okay
RiskyOkayStrong ▸5×
Current ratio1.38Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,939 cr
Book value
₹105
EPS
₹3.97
latest quarter
Net debt
₹1,681 cr
owes more than its cash
Enterprise value
₹3,620 cr
EBITDA
₹449 cr
annualised
EBIT
₹377 cr
annualised
Operating margin
6.9%
Return on assets
5.6%
Earnings yield
11.83%
P/S
0.36
Sales / share
₹377.1
Tax rate
4.7%
Face value
₹10
Shares
14.5 cr
Working capital
₹847 cr
Current assets
₹3,063 cr
Current liabilities
₹2,216 cr
Delivery %
58.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹154₹164, midpoint ₹159

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹1,362 cr
Other Income₹105 cr
Total Income₹1,467 cr
Cost of Materials₹973 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-17 cr
Employee Benefit Expense₹58 cr
Finance Costs₹34 cr
Depreciation & Amortisation₹18 cr
Other Expenses₹341 cr
Total Expenses₹1,407 cr
Profit before Tax₹60 cr
Tax Expense₹3 cr
Net Profit₹57 cr
Net margin on total income3.9%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹956 cr65.1%
Employee benefit expense₹58 cr4.0%
Finance costs₹34 cr2.3%
Depreciation & amortisation₹18 cr1.2%
Other expenses₹341 cr23.2%
Tax expense₹3 cr0.2%
Profit for the period₹57 cr3.9%
Total income ₹1,467 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,331 cr1,269 cr1,362 cr
Total income1,335 cr1,777 cr1,467 cr
Expenses1,315 cr1,344 cr1,407 cr
Profit before tax21 cr434 cr60 cr
Tax11 cr-121 cr3 cr
Net profit (owners' share)10 cr555 cr57 cr
Net margin (owners' share, on revenue)0.8%43.7%4.2%
EPS (₹)0.7138.513.97
YoY (latest quarter): total income +25.7% · net profit +97.6%
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹4,077 cr
Shareholder equity
₹1,522 cr
parent shareholders
Total debt
₹1,697 cr
Cash
₹16 cr
Cash flow · H1 FY26
Operating
₹-141 cr
Investing
₹-26 cr
Financing
₹152 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,460₹64,903 cr15.5
APL Apollo Tubes Limited₹2,149₹59,664 cr56.7
Shyam Metalics and Energy Limited₹1,077₹29,982 cr21.4
Ratnamani Metals & Tubes Limited₹2,703₹18,943 cr57.6
Jindal Saw Limited₹291₹18,622 cr44.7
Usha Martin Limited₹496₹15,122 cr26.6
Godawari Power And Ispat limited₹238₹14,709 cr16.6
Gallantt Ispat Limited₹538₹12,974 cr26.2
Maharashtra Seamless Limited₹720₹9,651 cr9.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
3.73%
trailing 12 months
Dividend / share (TTM)
₹5
Last dividend
₹2
ex 7 Aug 2026
ActionDetailEx-date
Dividend₹2 / share7 Aug 2026
Dividend₹3 / share7 Aug 2026
Dividend₹2 / share25 Jul 2025
Dividend₹2 / share26 Jul 2024
Dividend₹2 / share28 Jul 2023
Dividend₹1.5 / share28 Jul 2022
Who owns it · 2026-06-30
No pledge
Promoter
74.7%
FII / Foreign
0.3%
DII / Domestic
1.0%
Retail / others
24.0%
Smart-money activity
Insider trades
SoldKUMUD NEELIMA FAMILY TRUST · Promoter Group50,000 · ₹65.1 L29 Sep 25
BoughtKUMUD NEELIMA FAMILY TRUST · Promoter Group50,000 · ₹65.1 L29 Sep 25
SoldNIMISHA BAJAJ FAMILY TRUST · Promoter Group2.39 L · ₹3.1 cr29 Sep 25
Bulk / block deals
SoldVIR RISHABH SUKUMAR · NSE20.18 L @ ₹1539 Aug 21
SoldSHAH CZAEE SUKETU · NSE38.75 L @ ₹1539 Aug 21
BoughtSANRAJ NAYAN INVESTMENTS PRIVATE LIMITED · NSE20.18 L @ ₹1539 Aug 21
Stake changes
BoughtBajaj Sevashram Pvt. Ltd. and others · promoter→ 26.43% · 2.34 cr9 Aug 21
BoughtBajaj Sevashram Pvt. Ltd. & Others · promoter→ 74.35%9 Aug 21
BoughtFor and on behalf of the Promoters and Promoters Group of Mukand Ltd Shekar Bajaj · promoter→ 74.35%17 Dec 20
Promoter pledges
ReleasedNiraj Bajaj18.26 L · 1.29% held29 Sep 20
ReleasedNiraj Bajaj48,000 · 0.03% held29 Sep 20
ReleasedNiraj Bajaj49.75 L · 3.52% held29 Sep 20
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 12 Aug 2026
See the official result
1
To consider and adopt the audited standalone financial statements and audited consolidated financial statements of the Company for the year ended March 31, 2026, together with the Report/s of the Board of Directors and the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
31.62 L votes for, 1,092 against · 0% of mutual funds and other big investors said no
2
To declare a dividend on 8% Cumulative Redeemable Preference Shares at the rate of 8% on paid up value of shares for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
31.61 L votes for, 1,607 against · 0% of mutual funds and other big investors said no
3
To declare a dividend on Equity Shares at the rate of Rs. 3/- (Rupees Three only) (This includes special payout of Re.1/- (Rupee One only) (i.e. @10%), in celebration of 100 years of the Bajaj Group) per Equity Share for the financial year ended March 31, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
31.62 L votes for, 1,142 against · 0% of mutual funds and other big investors said no
4
To appoint a Director in the place of Shri Nirav Bajaj (DIN: 08472468), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
31.49 L votes for, 14,060 against · 86% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 39 named members
owning 74.7% between them · as of 2026-06-30
JAMNALAL SONS PRIVATE LIMITED19.92%
BARODA INDUSTRIES PRIVATE LIMITED12.69%
BACHHRAJ & CO PRIVATE LIMITED10.35%
BAJAJ SEVASHRAM PRIVATE LIMITED9.62%
NIRAJ BAJAJ8.27%
BAJAJ HOLDINGS AND INVESTMENT LTD5.63%
BACHHRAJ FACTORIES PRIVATE LIMITED4.86%
SANRAJ NAYAN INVESTMENTS PRIVATE LIMITED1.55%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.