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Last Updated: April 2, 2026, 3:21 am
Author: Getaka|Social: XLinkedIn

Mukand Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹126.76Fairly Valued by 1.41%vs CMP ₹125.00

P/E (30.0) × ROE (7.8%) × BV (₹66.30) × DY (1.61%)

₹98.92Overvalued by 20.86%vs CMP ₹125.00
MoS: -26.4% (Negative)Confidence: 50/100 (Moderate)Models: 2 Under, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹101.7230%Over (-18.6%)
Graham NumberEarnings₹78.6822%Over (-37.1%)
Net Asset ValueAssets₹66.5310%Over (-46.8%)
EV/EBITDAEnterprise₹107.5712%Over (-13.9%)
Earnings YieldEarnings₹41.5010%Over (-66.8%)
ROCE CapitalReturns₹161.5310%Under (+29.2%)
Revenue MultipleRevenue₹169.797%Under (+35.8%)
Consensus (7 models)₹98.92100%Overvalued
Key Drivers: EPS CAGR -19.8% drags value — could be higher if earnings stabilize. | Wide model spread (₹42–₹170) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -19.8%

*Investments are subject to market risks

Investment Snapshot

50
Mukand Ltd scores 50/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 9.9% AverageROE 7.8% AverageD/E 4.48 High debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 74.7% Stable
Earnings Quality75/100 · Strong
OPM expanding (1% → 6%) ImprovingWorking capital: 20 days (improving) Efficient
Quarterly Momentum25/100 · Weak
Revenue (4Q): -6% YoY DecliningProfit (4Q): -35% YoY Declining
Industry Rank50/100 · Moderate
P/E 30.0 vs industry 83.4 Cheaper than peersROCE 9.9% vs industry 13.3% AverageROE 7.8% vs industry 192.3% Below peers3Y sales CAGR: 2% Slow

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, 3:21 am

Market Cap 1,800 Cr.
Current Price 125
Intrinsic Value₹98.92
High / Low 162/84.4
Stock P/E30.0
Book Value 66.3
Dividend Yield1.61 %
ROCE9.91 %
ROE7.84 %
Face Value 10.0
PEG Ratio-1.52

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

View Share Price Target for Mukand Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Mukand Ltd 1,800 Cr. 125 162/84.430.0 66.31.61 %9.91 %7.84 % 10.0
Shah Alloys Ltd 116 Cr. 58.4 83.8/46.8 5.180.00 %25.8 %1,108 % 10.0
Usha Martin Ltd 12,392 Cr. 407 498/28127.7 97.30.74 %18.8 %15.8 % 1.00
Jindal Stainless Ltd 58,109 Cr. 705 884/49719.7 2190.43 %18.2 %16.2 % 2.00
Ashnisha Industries Ltd 87.0 Cr. 3.28 4.94/2.57256 2.300.00 %1.23 %0.28 % 1.00
Industry Average18,104.25 Cr217.8983.3566.630.46%13.27%192.30%5.67

All Competitor Stocks of Mukand Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,3301,3121,3821,3771,1771,2391,2581,2631,2621,1071,1291,1611,331
Expenses 1,2561,6911,3051,3071,1141,1561,1871,1871,1901,0421,0811,0911,259
Operating Profit 75-3797770628371767265476972
OPM % 6%-29%6%5%5%7%6%6%6%6%4%6%5%
Other Income 7554336443263934
Interest 51383333343132333233343840
Depreciation 14151212121211141313141416
Profit before tax 161233428224332332924382021
Tax % -19%-2%9%16%12%33%23%24%49%55%23%50%51%
Net Profit 191253123192924251511291010
EPS in Rs 1.308.682.141.611.342.011.681.751.030.752.010.680.71

Last Updated: March 3, 2026, 7:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 2:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,5163,0162,9532,7133,4363,6892,9232,7264,6435,5685,1754,8904,728
Expenses 2,3292,6432,5932,3513,2163,5422,8483,2284,4045,7394,8824,6054,474
Operating Profit 18837336036122014875-502239-172293285254
OPM % 7%12%12%13%6%4%3%-18%5%-3%6%6%5%
Other Income 16-712451,3317968748119573151451
Interest 254276293294473327364332161177131130144
Depreciation 687677721585875694552505158
Profit before tax -11813242920-158-296-155151172127118102
Tax % -28%12%280%127%11%-27%-19%32%-17%0%18%36%
Net Profit -8412-6-11821-115-240-2041761721047660
EPS in Rs -5.980.79-0.53-0.8058.06-8.17-16.96-14.4112.4711.897.195.254.15
Dividend Payout % 0%0%0%0%0%0%0%-7%12%17%28%38%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)114.29%-150.00%-83.33%7563.64%-114.01%-108.70%15.00%186.27%-2.27%-39.53%-26.92%
Change in YoY Net Profit Growth (%)0.00%-264.29%66.67%7646.97%-7677.64%5.31%123.70%171.27%-188.55%-37.26%12.61%

Mukand 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:5%
5 Years:11%
3 Years:2%
TTM:-6%
Compounded Profit Growth
10 Years:12%
5 Years:18%
3 Years:-2%
TTM:-16%
Stock Price CAGR
10 Years:15%
5 Years:34%
3 Years:6%
1 Year:-14%
Return on Equity
10 Years:-19%
5 Years:-28%
3 Years:-8%
Last Year:8%

Last Updated: September 5, 2025, 11:20 am

Balance Sheet

Last Updated: December 4, 2025, 1:40 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 147141141141141141141141145145145145145
Reserves 1,7261,7251,714173938774529321522709760805813
Borrowings 2,3652,6212,8522,9792,1242,5752,7552,0762,0361,5051,4891,5591,811
Other Liabilities 1,3931,3761,3861,1811,2439751,0346998228196361,0331,007
Total Liabilities 5,6325,8636,0934,4744,4474,4654,4603,2373,5243,1783,0303,5423,776
Fixed Assets 2,5002,4612,429693562505516447484488452539506
CWIP 5238313923233026323034140187
Investments 3938361331,2681,2871,214528128159102943
Other Assets 3,0403,3263,5973,6092,5942,6502,7002,2362,8802,5012,5342,8333,040
Total Assets 5,6325,8636,0934,4744,4474,4654,4603,2373,5243,1783,0303,5423,776

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -5919135319894-56150-328-10210665180
Cash from Investing Activity + -9-11-35-36887121,34528061999-124
Cash from Financing Activity + 77-10-94-283-98740-159-997-166-728-152-86
Net Cash Flow 10-35-0-5-922012-312-29
Free Cash Flow -84-697283980-50129302-3197261274
CFO/OP -31%1%41%90%412%-36%205%69%-37%-66%23%61%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow186.00371.00358.00359.00218.00146.0073.00-504.00237.00-173.00292.00284.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1351221441373145526939303832
Inventory Days 413380417456220227309217184144173240
Days Payable 2962302382941961381728464504871
Cash Conversion Cycle 25327332329956134189203159125163201
Working Capital Days 3987104119-155377155419711920
ROCE %4%7%7%8%4%5%2%-18%8%-8%11%10%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.36%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%74.70%
FIIs 0.14%0.06%0.08%0.32%0.23%0.20%0.22%0.20%0.28%0.14%0.18%0.28%
DIIs 2.10%1.52%1.17%1.19%1.56%1.74%1.10%1.10%1.10%1.10%1.10%1.10%
Public 23.40%23.72%24.04%23.78%23.50%23.35%23.97%24.00%23.93%24.05%24.01%23.91%
No. of Shareholders 43,78344,83947,59349,80949,48149,35552,36652,08851,69951,16051,39050,213

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
JM Aggressive Hybrid Fund 124,126 1.98 2.19124,1262025-04-22 05:41:250%
JM Aggressive Hybrid Fund - Dividend 124,126 1.98 2.19124,1262025-04-22 17:25:250%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 5.247.1111.8912.55-14.41
Diluted EPS (Rs.) 5.247.1111.8912.55-14.41
Cash EPS (Rs.) 8.7610.5515.9615.86-5.79
Book Value[Excl.RevalReserv]/Share (Rs.) 65.7163.7459.0844.1532.71
Book Value[Incl.RevalReserv]/Share (Rs.) 65.7163.7459.0844.1532.71
Revenue From Operations / Share (Rs.) 338.38358.09385.27327.86192.76
PBDIT / Share (Rs.) 20.6721.3128.2426.1221.19
PBIT / Share (Rs.) 17.1617.8724.6222.9616.34
PBT / Share (Rs.) 8.198.7812.3711.60-7.16
Net Profit / Share (Rs.) 5.257.1112.3412.69-10.63
NP After MI And SOA / Share (Rs.) 5.257.1111.8912.55-14.41
PBDIT Margin (%) 6.105.957.337.9610.99
PBIT Margin (%) 5.074.996.387.008.47
PBT Margin (%) 2.412.453.213.53-3.71
Net Profit Margin (%) 1.551.983.203.87-5.51
NP After MI And SOA Margin (%) 1.551.983.083.82-7.47
Return on Networth / Equity (%) 7.9911.1420.1128.41-44.05
Return on Capital Employeed (%) 22.0510.7315.0320.7610.08
Return On Assets (%) 2.143.375.405.11-6.29
Long Term Debt / Equity (X) 0.101.561.691.413.80
Total Debt / Equity (X) 1.641.621.763.244.48
Asset Turnover Ratio (%) 1.481.661.691.360.68
Current Ratio (X) 1.123.723.061.442.71
Quick Ratio (X) 0.281.241.160.681.54
Inventory Turnover Ratio (X) 2.722.162.772.431.28
Dividend Payout Ratio (NP) (%) 38.0828.1412.617.960.00
Dividend Payout Ratio (CP) (%) 22.8218.969.666.360.00
Earning Retention Ratio (%) 61.9271.8687.3992.040.00
Cash Earning Retention Ratio (%) 77.1881.0490.3493.640.00
Interest Coverage Ratio (X) 2.302.342.312.300.90
Interest Coverage Ratio (Post Tax) (X) 1.591.782.012.120.54
Enterprise Value (Cr.) 2833.743583.983488.143815.983204.39
EV / Net Operating Revenue (X) 0.570.690.620.821.18
EV / EBITDA (X) 9.4911.648.5510.3310.69
MarketCap / Net Operating Revenue (X) 0.260.410.360.430.43
Retention Ratios (%) 61.9171.8587.3892.030.00
Price / BV (X) 1.372.332.373.192.54
Price / Net Operating Revenue (X) 0.260.410.360.430.43
EarningsYield 0.050.040.080.08-0.17

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Mukand Ltd. is a Public Limited Listed company incorporated on 29/11/1937 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L99999MH1937PLC002726 and registration number is 002726. Currently Company is involved in the business activities of Manufacture of other lifting and handling equipment and parts thereof. Company's Total Operating Revenue is Rs. 4911.61 Cr. and Equity Capital is Rs. 144.51 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - Alloys/SpecialBajaj Bhawan, Jamnalal Bajaj Marg Mumbai Maharashtra 400021Contact not found
Management
NamePosition Held
Mr. Niraj BajajChairman & Managing Director
Mr. Nirav BajajWhole Time Director
Mr. A M KulkarniNon Executive Director
Mr. Sankaran RadhakrishnanIndependent Director
Mr. Prem Kumar Swamidas ChandraniIndependent Director
Mr. Tasneem MehtaIndependent Director

FAQ

What is the intrinsic value of Mukand Ltd and is it undervalued?

As of 10 April 2026, Mukand Ltd's intrinsic value is ₹98.92, which is 20.86% lower than the current market price of ₹125.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (7.84 %), book value (₹66.3), dividend yield (1.61 %), and 5-year EPS CAGR.

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

Mukand Ltd is trading at ₹125.00 as of 10 April 2026, with a FY2026-2027 high of ₹162 and low of ₹84.4. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,800 Cr..

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

Mukand Ltd has a P/E ratio of 30.0, which is below the industry average of 83.35. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Mukand Ltd financially healthy?

Key indicators for Mukand Ltd: ROCE of 9.91 % is on the lower side compared to the industry average of 13.27%; ROE of 7.84 % is below ideal levels (industry average: 192.30%). Dividend yield is 1.61 %.

Is Mukand Ltd profitable and how is the profit trend?

Mukand Ltd reported a net profit of ₹76 Cr in Mar 2025 on revenue of ₹4,890 Cr. Compared to ₹176 Cr in Mar 2022, the net profit shows a declining trend.

Does Mukand Ltd pay dividends?

Mukand Ltd has a dividend yield of 1.61 % at the current price of ₹125.00. The company pays dividends, though the yield is modest.

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 Mukand 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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