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Last Updated: April 2, 2026, 3:19 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 505324 | NSE: MANUGRAPH

Manugraph India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹69.83Undervalued by 540.64%vs CMP ₹10.90

P/E (15.0) × ROE (17.5%) × BV (₹32.60) × DY (2.00%)

Defaults: P/E=15

₹54.11Undervalued by 396.42%vs CMP ₹10.90
MoS: +79.9% (Strong)Confidence: 53/100 (Moderate)Models: All 3: Undervalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹85.4349%Under (+683.8%)
Net Asset ValueAssets₹32.6029%Under (+199.1%)
Revenue MultipleRevenue₹13.1722%Under (+20.8%)
Consensus (3 models)₹54.11100%Undervalued
Key Drivers: Wide model spread (₹13–₹85) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 22.3% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

60
Manugraph India Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health61/100 · Moderate
ROCE 12.5% GoodROE 17.5% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent
Smart Money50/100 · Moderate
Promoter holding at 57.7% Stable
Earnings Quality65/100 · Strong
OPM expanding (-39% → -24%) Improving
Quarterly Momentum80/100 · Strong
Revenue (4Q): +73% YoY AcceleratingOPM: -3.6% (up 18.0% YoY) Margin expansion
Industry Rank30/100 · Weak
ROCE 12.5% vs industry 37.7% Below peers3Y sales CAGR: -13% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:19 am

Market Cap 33.1 Cr.
Current Price 10.9
Intrinsic Value₹54.11
High / Low 25.7/9.60
Stock P/E
Book Value 32.6
Dividend Yield0.00 %
ROCE12.5 %
ROE17.5 %
Face Value 2.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Manugraph India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
KPT Industries Ltd 128 Cr. 376 1,028/33510.1 2180.80 %25.5 %22.5 % 5.00
Miven Machine Tools Ltd 19.7 Cr. 65.7 112/58.9 19.90.00 %%% 10.0
Incon Engineers Ltd 6.19 Cr. 14.3 16.4/9.31 1.250.00 %64.2 %% 10.0
Hittco Tools Ltd 7.26 Cr. 11.0 16.0/8.41 4.250.00 %3.21 %0.29 % 10.0
Harshil Agrotech Ltd 34.5 Cr. 0.37 3.86/0.31 1.270.00 %17.4 %16.4 % 1.00
Industry Average3,678.83 Cr421.0935.53118.780.36%37.74%16.87%6.04

All Competitor Stocks of Manugraph India Ltd

Quarterly Result

MetricMar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023
Sales 35.053.753.766.1816.004.4516.1512.9312.526.0225.4313.0235.10
Expenses 42.847.559.999.6918.138.0619.0516.5215.2310.3728.1719.6836.37
Operating Profit -7.79-3.80-6.23-3.51-2.13-3.61-2.90-3.59-2.71-4.35-2.74-6.66-1.27
OPM % -22.23%-101.33%-165.69%-56.80%-13.31%-81.12%-17.96%-27.76%-21.65%-72.26%-10.77%-51.15%-3.62%
Other Income 0.810.76-9.41-1.031.330.700.66-0.541.560.080.367.790.18
Interest 0.610.450.720.650.660.610.580.600.590.680.640.760.64
Depreciation 0.540.470.450.410.370.360.340.330.320.320.390.360.32
Profit before tax -8.13-3.96-16.81-5.60-1.83-3.88-3.16-5.06-2.06-5.27-3.410.01-2.05
Tax % -1.11%0.25%0.71%1.07%16.39%1.55%0.95%-11.86%14.56%2.85%2.64%800.00%-0.49%
Net Profit -8.04-3.97-16.93-5.66-2.13-3.94-3.19-4.46-2.36-5.42-3.50-0.07-2.04
EPS in Rs -2.64-1.31-5.57-1.86-0.70-1.30-1.05-1.47-0.78-1.78-1.15-0.02-0.67

Last Updated: February 28, 2025, 6:31 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 3:33 pm

MetricMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Sales 446372306259316258185251121304680
Expenses 389344297264303261200265151455994
Operating Profit 57289-513-3-15-14-30-16-13-15
OPM % 13%7%3%-2%4%-1%-8%-6%-25%-53%-28%-19%
Other Income -524-663-241030-828
Interest 433331122323
Depreciation 131212876542211
Profit before tax -1117-12-106-34-12-17-34-28-14-11
Tax % 150%36%-32%4%-11%5%17%-3%3%2%-1%3%
Net Profit -2711-8-106-35-14-16-35-29-14-11
EPS in Rs -8.743.61-2.64-3.262.10-11.63-4.69-5.37-11.61-9.44-4.59-3.63
Dividend Payout % -29%42%-38%-15%48%-4%-13%-9%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)140.74%-172.73%-25.00%160.00%-683.33%60.00%-14.29%-118.75%17.14%51.72%21.43%
Change in YoY Net Profit Growth (%)0.00%-313.47%147.73%185.00%-843.33%743.33%-74.29%-104.46%135.89%34.58%-30.30%

Manugraph India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2012-2013 to 2022-2023.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: Unknown

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Equity Capital 666666666666
Reserves 19420619918919421820218414611710493
Borrowings 16181517117309191811
Other Liabilities 150931039510482966666414362
Total Liabilities 366323323307315313306256227183170172
Fixed Assets 80736459541201019795939290
CWIP 100000000000
Investments 37363625286048110000
Other Assets 248215223223233132158148131907882
Total Assets 366323323307315313306256227183170172

Reserves and Borrowings Chart

Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity + 43-217-201930-28-14-29-22-1-6
Cash from Investing Activity + -62213-2-2531251313417
Cash from Financing Activity + -33-8-10-3-11-8-7-567-4-10
Net Cash Flow 4-89-97-2-36-10-2-11
Free Cash Flow 38-616-231731-24-14-29-21-02
CFO/OP 94%32%266%367%165%-1,031%180%101%100%145%39%40%

Free Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow41.0010.00-6.00-22.002.00-10.00-18.00-14.00-39.00-35.00-31.00-26.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days 3227264135133585442911
Inventory Days 1661771892141771452601852721,033675384
Days Payable 77596190526012743106174100144
Cash Conversion Cycle 12114415416516098169151221901585251
Working Capital Days 1333102218-373618830316893
ROCE %21%9%-0%-4%4%0%-5%-6%-17%-10%-9%-12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 57.67%57.67%57.67%57.67%57.67%57.67%57.67%57.67%57.67%57.67%57.67%57.67%
DIIs 0.77%0.77%0.77%0.77%0.77%0.72%1.83%1.83%1.83%1.77%1.77%1.77%
Public 41.56%41.55%41.55%41.56%41.56%41.61%40.50%40.51%40.49%40.57%40.56%40.56%
No. of Shareholders 10,75010,81411,20410,55812,11911,97712,76612,77512,74012,73312,32211,983

Shareholding Pattern Chart

No. of Shareholders

Manugraph India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) -3.53-4.59-9.44-11.61-5.37
Diluted EPS (Rs.) -3.53-4.59-9.44-11.61-5.37
Cash EPS (Rs.) -3.17-4.14-8.88-10.81-3.91
Book Value[Excl.RevalReserv]/Share (Rs.) 32.6036.1340.4549.9862.53
Book Value[Incl.RevalReserv]/Share (Rs.) 32.6036.1340.4549.9862.53
Revenue From Operations / Share (Rs.) 26.1615.149.7639.7982.54
PBDIT / Share (Rs.) -4.38-3.52-4.05-8.69-1.22
PBIT / Share (Rs.) -4.83-3.96-4.61-9.49-2.68
PBT / Share (Rs.) -3.43-5.12-9.28-11.10-3.90
Net Profit / Share (Rs.) -3.63-4.59-9.44-11.61-5.37
NP After MI And SOA / Share (Rs.) -3.63-4.59-9.44-11.61-5.37
PBDIT Margin (%) -16.73-23.25-41.54-21.84-1.47
PBIT Margin (%) -18.47-26.17-47.25-23.84-3.24
PBT Margin (%) -13.11-33.80-95.05-27.89-4.72
Net Profit Margin (%) -13.85-30.28-96.71-29.17-6.50
NP After MI And SOA Margin (%) -13.85-30.28-96.71-29.17-6.50
Return on Networth / Equity (%) -11.12-12.69-23.33-23.22-8.59
Return on Capital Employeed (%) -12.08-9.05-10.13-17.19-3.95
Return On Assets (%) -6.41-8.19-15.66-15.57-6.37
Total Debt / Equity (X) 0.100.160.150.050.00
Asset Turnover Ratio (%) 0.460.260.140.500.89
Current Ratio (X) 1.431.811.621.902.73
Quick Ratio (X) 0.230.430.430.841.12
Inventory Turnover Ratio (X) 1.210.490.190.992.08
Dividend Payout Ratio (NP) (%) 0.000.000.00-4.30-9.38
Dividend Payout Ratio (CP) (%) 0.000.000.00-4.62-12.89
Earning Retention Ratio (%) 0.000.000.00104.30109.38
Cash Earning Retention Ratio (%) 0.000.000.00104.62112.89
Interest Coverage Ratio (X) -4.90-4.49-4.96-16.76-2.68
Interest Coverage Ratio (Post Tax) (X) -5.52-4.97-5.84-18.85-5.51
Enterprise Value (Cr.) 53.1248.8643.169.5650.34
EV / Net Operating Revenue (X) 0.661.061.450.070.20
EV / EBITDA (X) -3.99-4.56-3.50-0.36-13.60
MarketCap / Net Operating Revenue (X) 0.550.861.200.190.33
Retention Ratios (%) 0.000.000.00104.30109.38
Price / BV (X) 0.440.360.280.150.44
Price / Net Operating Revenue (X) 0.550.861.200.190.33
EarningsYield -0.24-0.35-0.80-1.47-0.19

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Manugraph India Ltd. is a Public Limited Listed company incorporated on 25/04/1972 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L29290MH1972PLC015772 and registration number is 015772. Currently company belongs to the Industry of Engineering - General. Company's Total Operating Revenue is Rs. 59.35 Cr. and Equity Capital is Rs. 6.08 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - General2nd Floor, Sidhwa House, N.A. Sawant Marg, Mumbai Maharashtra 400005Contact not found
Management
NamePosition Held
Mr. Sanjay S ShahChairman & Managing Director
Mr. Pradeep S ShahVice Chairman & Mng.Director
Mr. Shailesh B ShirguppiWhole Time Director - Works
Mrs. Basheera J IndorewalaInd. Non-Executive Director
Mr. Nimish VakilInd. Non-Executive Director
Ms. Madhavi KilachandInd. Non-Executive Director
Mr. K N PadmanabhanInd. Non-Executive Director

FAQ

What is the intrinsic value of Manugraph India Ltd and is it undervalued?

As of 10 April 2026, Manugraph India Ltd's intrinsic value is ₹54.11, which is 396.42% higher than the current market price of ₹10.90, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (17.5 %), book value (₹32.6), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Manugraph India Ltd?

Manugraph India Ltd is trading at ₹10.90 as of 10 April 2026, with a FY2026-2027 high of ₹25.7 and low of ₹9.60. The stock is currently near its 52-week low. Market cap stands at ₹33.1 Cr..

How does Manugraph India Ltd's P/E ratio compare to its industry?

Manugraph India Ltd has a P/E ratio of , which is below the industry average of 35.53. This is broadly in line with or below the industry average.

Is Manugraph India Ltd financially healthy?

Key indicators for Manugraph India Ltd: ROCE of 12.5 % is moderate; ROE of 17.5 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Manugraph India Ltd profitable and how is the profit trend?

Manugraph India Ltd reported a net profit of ₹-11 Cr in Mar 2023 on revenue of ₹80 Cr. Compared to ₹-35 Cr in Mar 2020, the net profit shows a mixed trend.

Does Manugraph India Ltd pay dividends?

Manugraph India Ltd has a dividend yield of 0.00 % at the current price of ₹10.90. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Manugraph India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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