Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: March 30, 2026, 2:51 am
Author: Getaka|Social: XLinkedIn

Milton Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹36.12Overvalued by 28.19%vs CMP ₹50.30

P/E (61.1) × ROE (2.6%) × BV (₹28.30) × DY (2.00%)

₹20.08Overvalued by 60.08%vs CMP ₹50.30
MoS: -150.5% (Negative)Confidence: 65/100 (Moderate)Models: All 8: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹30.5026%Over (-39.4%)
Graham NumberEarnings₹22.8518%Over (-54.6%)
Earnings PowerEarnings₹2.3915%Over (-95.2%)
Net Asset ValueAssets₹28.328%Over (-43.7%)
EV/EBITDAEnterprise₹7.4510%Over (-85.2%)
Earnings YieldEarnings₹8.208%Over (-83.7%)
ROCE CapitalReturns₹39.228%Over (-22%)
Revenue MultipleRevenue₹12.996%Over (-74.2%)
Consensus (8 models)₹20.08100%Overvalued
Key Drivers: EPS CAGR -15.6% drags value — could be higher if earnings stabilize. | ROE 2.6% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -15.6%

*Investments are subject to market risks

Investment Snapshot

39
Milton Industries Ltd scores 39/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 5.0% WeakROE 2.6% WeakD/E 0.30 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 73.0% Stable
Earnings Quality30/100 · Weak
OPM contracting (10% → 7%) DecliningWorking capital: 294 days Capital intensive
Quarterly Momentum35/100 · Weak
Revenue (4Q): -16% YoY DecliningProfit (4Q): -18% YoY DecliningOPM: 9.2% (up 4.0% YoY) Margin expansion
Industry Rank20/100 · Weak
P/E 61.1 vs industry 41.0 In-lineROCE 5.0% vs industry 11.3% Below peersROE 2.6% vs industry 8.7% Below peers3Y sales CAGR: -10% 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.

Milton Industries Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
40/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 61.1 vs Ind 41.0 | ROCE 5.0% | ROE 2.6% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.30x | IntCov 0.0x | Current 2.68x | Borrow/Reserve 0.58x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹1 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII N/A | DII 0.00 pp | Prom 0.00 pp
Business Momentum
+6
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +0.4% | Q NP -5.6% | Q OPM +3.2 pp
Derived FieldValueHow it is derived
Valuation Gap %-60.1%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.58xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII ChangeN/ALatest FII% minus previous FII%
DII Change0.00 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-2Latest shareholder count minus previous count
Quarterly Sales Change+0.4%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-5.6%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+3.2 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: March 30, 2026, 2:51 am

Market Cap 85.5 Cr.
Current Price 50.3
Intrinsic Value₹20.08
High / Low 53.5/24.8
Stock P/E61.1
Book Value 28.3
Dividend Yield0.00 %
ROCE5.01 %
ROE2.56 %
Face Value 10.0
PEG Ratio-3.93

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

View Share Price Target for Milton Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Milton Industries Ltd 85.5 Cr. 50.3 53.5/24.861.1 28.30.00 %5.01 %2.56 % 10.0
Western India Plywoods Ltd (WIPL) 127 Cr. 150 193/13359.8 52.80.80 %8.52 %6.32 % 10.0
Priti International Ltd 47.4 Cr. 35.5 107/31.530.2 54.00.00 %8.58 %6.23 % 10.0
Dhabriya Polywood Ltd 349 Cr. 322 490/28012.8 1050.22 %20.4 %19.8 % 10.0
Diksha Greens Ltd 1.07 Cr. 1.08 5.30/1.04 30.60.00 %%% 10.0
Industry Average238.00 Cr95.0140.9846.750.17%11.28%8.73%10.00

All Competitor Stocks of Milton Industries Ltd

Quarterly Result

MetricSep 2019Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 28.8939.4318.8323.3525.5934.0729.4031.5541.1047.9622.2621.9222.01
Expenses 26.3833.7115.6320.3023.2030.1726.8528.2538.9743.0720.9320.5919.98
Operating Profit 2.515.723.203.052.393.902.553.302.134.891.331.332.03
OPM % 8.69%14.51%16.99%13.06%9.34%11.45%8.67%10.46%5.18%10.20%5.97%6.07%9.22%
Other Income 0.69-0.560.340.210.580.120.180.090.010.230.581.210.02
Interest 0.881.180.990.780.810.470.400.570.861.020.810.880.79
Depreciation 0.610.800.690.600.640.800.720.350.540.550.550.620.58
Profit before tax 1.713.181.861.881.522.751.612.470.743.550.551.040.68
Tax % 0.00%44.34%0.00%57.98%0.00%36.73%0.00%48.58%0.00%31.27%0.00%30.77%0.00%
Net Profit 1.711.771.860.791.511.741.601.270.752.440.550.720.68
EPS in Rs 1.011.041.090.460.891.020.940.750.441.440.320.420.40

Last Updated: December 29, 2025, 11:34 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:58 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 45.3941.6041.9943.4739.0153.7968.1642.1959.6660.9589.0644.1743.93
Expenses 42.0238.4237.6038.7834.6949.4059.9235.9453.3855.1082.0441.5140.57
Operating Profit 3.373.184.394.694.324.398.246.256.285.857.022.663.36
OPM % 7.42%7.64%10.45%10.79%11.07%8.16%12.09%14.81%10.53%9.60%7.88%6.02%7.65%
Other Income 0.080.680.050.170.591.490.130.550.700.270.241.751.23
Interest 1.672.062.152.292.311.882.061.771.280.971.881.691.67
Depreciation 0.680.851.051.271.271.241.411.291.451.081.091.171.20
Profit before tax 1.100.951.241.301.332.764.903.744.254.074.291.551.72
Tax % 31.82%33.68%82.26%27.69%2.26%28.99%28.78%29.14%23.53%29.48%25.64%23.23%
Net Profit 0.740.630.220.941.301.963.482.653.252.873.191.201.40
EPS in Rs 1.351.150.401.710.761.152.051.561.911.691.880.710.82
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-14.86%-65.08%327.27%38.30%50.77%77.55%-23.85%22.64%-11.69%11.15%-62.38%
Change in YoY Net Profit Growth (%)0.00%-50.21%392.35%-288.97%12.47%26.78%-101.40%46.49%-34.33%22.84%-73.53%

Milton Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:-8%
3 Years:-10%
TTM:-50%
Compounded Profit Growth
10 Years:10%
5 Years:-19%
3 Years:-28%
TTM:-62%
Stock Price CAGR
10 Years:%
5 Years:23%
3 Years:18%
1 Year:-35%
Return on Equity
10 Years:7%
5 Years:6%
3 Years:5%
Last Year:3%

Last Updated: Unknown

Balance Sheet

Last Updated: December 4, 2025, 1:39 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 5.005.005.005.0015.4515.4517.0017.0017.0017.0017.0017.0017.00
Reserves 6.376.927.178.2713.4015.3617.3019.9423.2026.0729.2530.4531.13
Borrowings 17.5220.5623.5822.8421.8916.3916.3912.688.8916.4615.2220.4217.98
Other Liabilities 12.3915.1912.7619.5218.8215.6420.6214.7112.6314.5611.688.1510.46
Total Liabilities 41.2847.6748.5155.6369.5662.8471.3164.3361.7274.0973.1576.0276.57
Fixed Assets 6.015.5012.6312.2410.9810.8212.2713.2112.6612.4111.5811.3911.06
CWIP 0.546.320.420.280.470.040.000.240.000.000.000.000.00
Investments 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Other Assets 34.7335.8535.4643.1158.1151.9859.0450.8849.0661.6861.5764.6365.51
Total Assets 41.2847.6748.5155.6369.5662.8471.3164.3361.7274.0973.1576.0276.57

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 0.245.071.323.26-11.306.305.207.718.10-8.352.24-2.76
Cash from Investing Activity + -1.36-6.21-2.21-0.510.290.75-3.06-2.00-0.330.78-0.020.57
Cash from Financing Activity + 1.101.211.13-2.7811.35-7.13-1.64-5.37-5.106.22-3.133.51
Net Cash Flow -0.020.070.23-0.040.33-0.080.510.342.67-1.34-0.901.32
Free Cash Flow -1.18-1.18-0.942.58-11.515.652.375.247.45-7.632.22-2.25
CFO/OP 16%167%39%74%-256%151%69%148%157%-115%31%-60%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-14.15-17.38-19.19-18.15-17.57-12.00-8.15-6.43-2.61-10.61-8.20-17.76

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 62.8869.5886.40129.56155.60140.87148.55225.02123.46158.64100.49169.73
Inventory Days 220.15241.30243.04251.87362.46176.81154.33302.38218.04225.10145.20381.05
Days Payable 87.55122.7469.80144.34179.5390.3097.73137.6576.0997.6039.4572.31
Cash Conversion Cycle 195.48188.13259.64237.08338.52227.38205.16389.75265.41286.14206.24478.47
Working Capital Days 95.6984.8477.0275.40216.79170.32142.66258.24171.06189.96148.69293.60
ROCE %10.18%8.67%9.94%9.99%8.41%9.48%14.22%10.99%11.20%9.28%10.20%5.01%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2022Sep 2022Dec 2022Mar 2023Jun 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Sep 2025
Promoters 72.96%72.96%72.96%72.96%72.96%72.96%72.96%72.96%72.96%72.96%72.96%72.96%
DIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.26%0.26%0.26%0.26%0.26%
Public 27.04%27.04%27.04%27.04%27.04%27.04%27.04%26.78%26.78%26.78%26.78%26.78%
No. of Shareholders 275288289297297290265273258252243241

Shareholding Pattern Chart

No. of Shareholders

Milton Industries 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 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 0.701.881.691.911.56
Diluted EPS (Rs.) 0.701.881.691.911.56
Cash EPS (Rs.) 1.392.512.322.762.32
Book Value[Excl.RevalReserv]/Share (Rs.) 27.9227.2125.3423.6521.73
Book Value[Incl.RevalReserv]/Share (Rs.) 27.9227.2125.3423.6521.73
Revenue From Operations / Share (Rs.) 25.9952.4035.8735.1024.82
PBDIT / Share (Rs.) 2.604.273.604.114.00
PBIT / Share (Rs.) 1.913.632.963.263.24
PBT / Share (Rs.) 0.912.522.402.512.20
Net Profit / Share (Rs.) 0.701.881.691.911.56
PBDIT Margin (%) 9.998.1510.0311.7016.10
PBIT Margin (%) 7.346.938.269.2813.04
PBT Margin (%) 3.514.826.677.138.85
Net Profit Margin (%) 2.713.574.705.456.27
Return on Networth / Equity (%) 2.526.896.668.097.17
Return on Capital Employeed (%) 6.3612.1710.4412.1612.10
Return On Assets (%) 1.574.353.875.264.11
Long Term Debt / Equity (X) 0.040.060.080.090.20
Total Debt / Equity (X) 0.430.320.380.220.30
Asset Turnover Ratio (%) 0.591.210.890.940.62
Current Ratio (X) 2.562.722.353.012.68
Quick Ratio (X) 1.451.601.441.691.75
Inventory Turnover Ratio (X) 1.672.641.791.911.21
Interest Coverage Ratio (X) 2.613.866.315.453.85
Interest Coverage Ratio (Post Tax) (X) 1.712.693.963.542.50
Enterprise Value (Cr.) 66.3979.1649.0838.3528.76
EV / Net Operating Revenue (X) 1.500.880.800.640.68
EV / EBITDA (X) 15.0410.908.035.494.23
MarketCap / Net Operating Revenue (X) 1.120.740.580.560.45
Price / BV (X) 1.041.430.830.840.52
Price / Net Operating Revenue (X) 1.120.740.580.560.45
EarningsYield 0.020.040.080.090.13

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Milton Industries Ltd. is a Public Limited Listed company incorporated on 23/08/1985 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L20299GJ1985PLC008047 and registration number is 008047. Currently Company is involved in the business activities of Manufacture of other plastics products. Company's Total Operating Revenue is Rs. 44.17 Cr. and Equity Capital is Rs. 17.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Decoratives - Wood/Fibre/Others1/2, Chitra-Ami Appartment, Opp. La Gajjar Chamber, Ahmedabad Gujarat 380009Contact not found
Management
NamePosition Held
Mr. Vijaipal Bhagmal JainChairman & Managing Director
Mr. Saket JainWholeTime Director & CFO
Mr. Abhay Mahipalsingh JainWhole Time Director
Mr. Vikas JainWhole Time Director
Mr. Ajay Mahipalsingh JainNon Executive Director
Mrs. Neha Vinit JainNon Executive Director
Mr. Rakesh Tarachand MehtaniIndependent Director
Mr. Maheshbhai PatelIndependent Director
Mr. Vaibhav JainIndependent Director

FAQ

What is the intrinsic value of Milton Industries Ltd and is it undervalued?

As of 05 April 2026, Milton Industries Ltd's intrinsic value is ₹20.08, which is 60.08% lower than the current market price of ₹50.30, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.56 %), book value (₹28.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Milton Industries Ltd?

Milton Industries Ltd is trading at ₹50.30 as of 05 April 2026, with a FY2026-2027 high of ₹53.5 and low of ₹24.8. The stock is currently near its 52-week high. Market cap stands at ₹85.5 Cr..

How does Milton Industries Ltd's P/E ratio compare to its industry?

Milton Industries Ltd has a P/E ratio of 61.1, which is above the industry average of 40.98. The premium over industry average may reflect growth expectations or speculative interest.

Is Milton Industries Ltd financially healthy?

Key indicators for Milton Industries Ltd: ROCE of 5.01 % is on the lower side compared to the industry average of 11.28%; ROE of 2.56 % is below ideal levels (industry average: 8.73%). Dividend yield is 0.00 %.

Is Milton Industries Ltd profitable and how is the profit trend?

Milton Industries Ltd reported a net profit of ₹1 Cr in Mar 2025 on revenue of ₹44 Cr. Compared to ₹3 Cr in Mar 2022, the net profit shows a declining trend.

Does Milton Industries Ltd pay dividends?

Milton Industries Ltd has a dividend yield of 0.00 % at the current price of ₹50.30. 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 Milton Industries 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
Explore Industry-wise Stock Analysis Reports