Minal Industries Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Minal Industries Ltd?

Minal Industries Ltd is trading at 3.59 as of 02 September 2026, with a FY2026-2027 high of 4.35 and low of 1.71. The stock is currently in the middle of its 52-week range. Market cap stands at 68.9 Cr..

Q: Is Minal Industries Ltd financially healthy?

Key indicators: ROCE of 1.42 % is on the lower side. Dividend yield is 0.00 %.

Q: Is Minal Industries Ltd profitable and how is the profit trend?

Minal Industries Ltd reported a net profit of 4 Cr in Mar 2025 on revenue of 51 Cr. Compared to 1 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹5.55Undervalued by 54.60%vs CMP ₹3.59

P/E (186.0) × ROE (1.3%) × BV (₹2.77) × DY (2.00%)

₹2.51Overvalued by 30.08%vs CMP ₹3.59

MoS: -43% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹6.02	26%	Under (+67.7%)
Graham Number	Earnings	₹1.37	16%	Over (-61.8%)
DCF	Cash Flow	₹0.70	16%	Over (-80.5%)
Net Asset Value	Assets	₹2.77	8%	Over (-22.8%)
EV/EBITDA	Enterprise	₹1.97	11%	Over (-45.1%)
Earnings Yield	Earnings	₹0.30	8%	Over (-91.6%)
ROCE Capital	Returns	₹0.58	8%	Over (-83.8%)
Revenue Multiple	Revenue	₹1.33	6%	Over (-63%)
Consensus (8 models)		₹2.51	100%	Overvalued

Key Drivers: P/E of 186 makes PE-ROE unreliable — asset/earnings models are better benchmarks. | ROE 1.3% 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: 8.4%

*Investments are subject to market risks

Analyst Summary

Minal Industries Ltd operates in the Trading & Distributors segment, NSE: MINALIND | BSE: 522235, current market price is ₹3.59, market cap is 68.9 Cr.. At a glance, stock P/E is 186, ROE is 1.32 %, ROCE is 1.42 %, book value is 2.77, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹2.51, around 30.1% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹51 Cr versus the prior period change of 35.1%, while latest net profit is about ₹4 Cr with a prior-period change of 302.4%. The 52-week range shown on this page is 4.35/1.71, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisMinal Industries Ltd. is a Public Limited Listed company incorporated on 11/01/1988 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is…

This summary is generated from the stock page data available for Minal Industries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Minal Industries Ltd scores 44/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health46/100 · Moderate

ROCE 1.4% WeakROE 1.3% WeakD/E 0.15 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent

Smart Money50/100 · Moderate

Promoter holding at 40.8% Stable

Earnings Quality55/100 · Moderate

OPM expanding (-1% → 5%) ImprovingWorking capital: 459 days Capital intensive

Quarterly Momentum35/100 · Weak

Revenue (4Q): -6% YoY DecliningProfit (4Q): -49% YoY DecliningOPM: 15.6% (up 8.2% YoY) Margin expansion

Industry Rank30/100 · Weak

P/E 186.0 vs industry 76.0 Premium to peersROCE 1.4% vs industry 74.9% Below peersROE 1.3% vs industry 15.1% Below peers3Y sales CAGR: 22% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 10:45 am

Market Cap	68.9 Cr.
Current Price	3.59
Intrinsic Value	₹2.51
High / Low	4.35/1.71
Stock P/E	186
Book Value	2.77
Dividend Yield	0.00 %
ROCE	1.42 %
ROE	1.32 %
Face Value	2.00
PEG Ratio	22.02

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Minal Industries Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Minal Industries Ltd	68.9 Cr.	3.59	4.35/1.71	186	2.77	0.00 %	1.42 %	1.32 %	2.00
Gleam Fabmat Ltd	22.0 Cr.	22.0	24.3/11.2	184	9.97	0.00 %	1.11 %	1.21 %	10.0
Adani Enterprises Ltd	4,05,839 Cr.	2,999	3,245/1,753	171	627	0.04 %	5.80 %	3.38 %	1.00
Chandrima Mercantiles Ltd	309 Cr.	9.28	14.5/3.26	124	3.03	0.00 %	4.73 %	3.95 %	1.00
BN Holdings Ltd	2,336 Cr.	239	420/195	120	33.1	0.00 %	1.19 %	6.10 %	10.0
Industry Average	14,478.97 Cr	157.25		75.99	118.84	0.31%	74.93%	15.08%	7.55

All Competitor Stocks of Minal Industries Ltd

Quarterly Result

Metric	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	5.79	4.74	14.81	12.51	12.31	10.77	8.87	19.16	10.04	8.90	8.71	15.18	13.11
Expenses	8.47	8.78	7.72	12.07	11.63	10.57	9.82	15.22	9.30	10.08	9.89	14.29	11.07
Operating Profit	-2.68	-4.04	7.09	0.44	0.68	0.20	-0.95	3.94	0.74	-1.18	-1.18	0.89	2.04
OPM %	-46.29%	-85.23%	47.87%	3.52%	5.52%	1.86%	-10.71%	20.56%	7.37%	-13.26%	-13.55%	5.86%	15.56%
Other Income	1.45	0.21	-1.31	-2.12	0.15	0.23	0.87	-0.22	0.18	0.58	0.34	1.19	0.39
Interest	0.26	0.23	-0.32	0.03	0.03	0.03	0.04	0.07	0.02	-0.01	0.02	0.01	0.02
Depreciation	0.07	0.11	0.22	0.12	0.13	0.14	0.14	0.13	0.14	0.14	0.14	0.14	0.14
Profit before tax	-1.56	-4.17	5.88	-1.83	0.67	0.26	-0.26	3.52	0.76	-0.73	-1.00	1.93	2.27
Tax %	0.64%	3.36%	-1.19%	16.94%	41.79%	-11.54%	-96.15%	-0.57%	10.53%	-2.74%	0.00%	15.54%	-4.41%
Net Profit	-1.58	-4.31	5.95	-2.13	0.40	0.29	-0.01	3.54	0.68	-0.71	-1.00	1.63	2.37
EPS in Rs	-0.04	-0.11	0.15	-0.15	0.02	-0.01	0.03	0.05	0.03	-0.02	-0.03	0.02	0.05

Last Updated: August 25, 2026, 4:30 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 17, 2026, 12:07 pm

Metric	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	111.56	16.32	0.08	4.04	0.01	40.25	36.15	14.00	28.24	26.80	37.85	51.12	46.81
Expenses	111.43	15.97	0.63	7.04	16.51	41.37	45.61	19.41	28.40	27.05	37.05	47.26	45.74
Operating Profit	0.13	0.35	-0.55	-3.00	-16.50	-1.12	-9.46	-5.41	-0.16	-0.25	0.80	3.86	1.07
OPM %	0.12%	2.14%	-687.50%	-74.26%	-165,000.00%	-2.78%	-26.17%	-38.64%	-0.57%	-0.93%	2.11%	7.55%	2.29%
Other Income	0.15	-0.26	0.23	0.01	7.51	1.43	3.25	1.28	2.30	2.34	-1.76	1.04	0.88
Interest	0.05	0.01	0.01	0.02	0.01	0.51	0.46	0.27	0.41	1.70	0.20	0.17	0.10
Depreciation	0.07	0.07	0.05	0.15	0.07	-0.86	0.78	0.75	0.73	0.68	0.53	0.55	0.55
Profit before tax	0.16	0.01	-0.38	-3.16	-9.07	0.66	-7.45	-5.15	1.00	-0.29	-1.69	4.18	1.30
Tax %	56.25%	500.00%	2.63%	-1.90%	0.44%	50.00%	-0.54%	-7.18%	33.00%	6.90%	23.08%	-0.72%
Net Profit	0.07	-0.04	-0.39	-3.09	-9.11	0.33	-7.41	-4.78	0.67	-0.31	-2.08	4.21	1.27
EPS in Rs	0.01	-0.00	-0.02	-0.16	-0.47	0.00	-0.27	-0.11	0.02	0.02	-0.15	0.08	0.03
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

Year	2012-2013	2013-2014	2014-2015	2015-2016	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-157.14%	-875.00%	-692.31%	-194.82%	-2345.45%	35.49%	114.02%	-146.27%	-570.97%	302.40%
Change in YoY Net Profit Growth (%)	0.00%	-717.86%	182.69%	497.49%	-2150.63%	2380.95%	78.52%	-260.29%	-424.70%	873.37%

Minal Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2012-2013 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	29%
5 Years:	7%
3 Years:	22%
TTM:	10%

Compounded Profit Growth
10 Years:	10%
5 Years:	17%
3 Years:	54%
TTM:	-21%

Stock Price CAGR
10 Years:	19%
5 Years:	%
3 Years:	%
1 Year:	-25%

Return on Equity
10 Years:	%
5 Years:	1%
3 Years:	2%
Last Year:	3%

Last Updated: September 5, 2025, 3:55 pm

Balance Sheet

Last Updated: June 10, 2026, 6:00 am

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38
Reserves	61.42	63.93	62.00	54.78	21.71	16.84	14.68	15.27	16.39	15.05	14.86	14.82
Borrowings	0.41	0.40	0.35	0.35	20.76	19.01	18.97	9.12	11.82	13.24	8.24	6.32
Other Liabilities	466.17	509.77	530.73	8.77	22.83	14.76	11.30	9.92	17.65	24.48	23.68	28.21
Total Liabilities	566.38	612.48	631.46	102.28	103.68	88.99	83.33	72.69	84.24	91.15	85.16	87.73
Fixed Assets	1.37	1.32	1.22	1.15	4.47	5.75	5.02	4.48	4.19	3.86	3.77	3.62
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	25.71	20.68	20.59	12.16	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	539.30	590.48	609.65	88.97	99.21	83.24	78.31	68.21	80.05	87.29	81.39	84.11
Total Assets	566.38	612.48	631.46	102.28	103.68	88.99	83.33	72.69	84.24	91.15	85.16	87.73

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	-1.85	-8.14	0.00	0.00	1.98	-3.30	4.90	-17.47	-2.45	-1.05	4.03	7.42
Cash from Investing Activity +	-0.25	5.04	0.00	0.00	-0.26	0.35	-3.82	27.99	1.30	0.71	0.11	-1.49
Cash from Financing Activity +	2.06	2.89	0.00	0.00	0.54	-2.13	-0.11	-11.31	1.00	0.15	-3.58	-1.97
Net Cash Flow	-0.04	-0.21	0.00	0.00	2.25	-5.08	0.97	-0.79	-0.14	-0.19	0.56	3.96
Free Cash Flow	-1.85	-8.14	0.00	0.00	1.98	-1.51	4.88	-17.33	-2.83	-1.24	3.57	7.01
CFO/OP	-517%	1,480%	0%	0%	-183%	35%	-95%	11,125%	968%	-85%	101%	-1,026%

Free Cash Flow

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	0.13	-0.06	-0.95	-3.35	-16.85	-21.88	-28.47	-24.38	-9.28	-12.07	-12.44	-4.38

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

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	1,479.24	11,099.40	2,499,793.75	51,402.66	2,044,730.00	230.24	137.92	157.21	158.46	125.71	140.41	171.58
Inventory Days	124.91	558.84	204,400.00	1,628.00	714.26	844.83	712.54	2,302.63	1,117.27	1,529.33	1,113.89	573.16
Days Payable	1,478.19	11,607.00	4,649,096.25	39,430.41	415.67	115.99	15.80	86.67	31.59	202.10	262.39	119.36
Cash Conversion Cycle	125.96	51.24	-1,944,902.50	13,600.26	2,045,028.59	959.08	834.66	2,373.17	1,244.14	1,452.94	991.90	625.37
Working Capital Days	229.65	1,610.07	364,087.50	7,065.10	2,902,115.00	562.69	592.28	1,225.10	688.77	737.22	627.88	459.32
ROCE %		0.29%	-0.36%	-3.09%	-9.33%		-10.17%	-5.99%	1.89%	1.97%	3.53%	5.97%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	59.74%	59.42%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.63%	40.78%	40.79%
Public	40.26%	40.58%	59.37%	59.37%	59.38%	59.38%	59.37%	59.38%	59.38%	59.37%	59.22%	59.21%
No. of Shareholders	2,289	3,995	5,027	6,212	7,912	10,976	14,809	14,916	14,985	14,886	14,649	14,600

Shareholding Pattern Chart

No. of Shareholders

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

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

Month	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	0.03	0.22	-0.11	-0.02	0.04
Diluted EPS (Rs.)	0.03	0.22	-0.11	-0.02	0.04
Cash EPS (Rs.)	0.06	0.24	-0.08	0.01	0.07
Book Value[Excl.RevalReserv]/Share (Rs.)	2.77	2.77	2.78	3.20	3.18
Book Value[Incl.RevalReserv]/Share (Rs.)	2.77	2.77	2.78	3.20	3.18
Revenue From Operations / Share (Rs.)	2.23	2.66	1.97	1.40	1.47
PBDIT / Share (Rs.)	0.08	0.25	0.16	0.10	0.11
PBIT / Share (Rs.)	0.05	0.22	0.13	0.07	0.07
PBT / Share (Rs.)	0.05	0.21	-0.08	-0.01	0.05
Net Profit / Share (Rs.)	0.03	0.21	-0.10	-0.01	0.03
NP After MI And SOA / Share (Rs.)	-0.01	0.07	-0.14	0.01	0.03
PBDIT Margin (%)	3.65	9.59	8.26	7.76	7.57
PBIT Margin (%)	2.36	8.52	6.87	5.22	4.97
PBT Margin (%)	2.25	8.18	-4.45	-1.12	3.51
Net Profit Margin (%)	1.39	8.23	-5.49	-1.18	2.35
NP After MI And SOA Margin (%)	-0.23	2.96	-7.46	1.17	2.35
Return on Networth / Equity (%)	-0.19	2.84	-5.29	0.57	1.23
Return on Capital Employeed (%)	1.43	6.06	3.59	2.22	2.25
Return On Assets (%)	-0.11	1.77	-3.10	0.37	0.91
Long Term Debt / Equity (X)	0.09	0.13	0.19	0.00	0.00
Total Debt / Equity (X)	0.10	0.14	0.23	0.19	0.15
Asset Turnover Ratio (%)	0.49	0.57	0.43	0.34	0.01
Current Ratio (X)	4.75	5.88	4.49	3.57	6.22
Quick Ratio (X)	1.44	2.03	0.99	0.63	1.46
Inventory Turnover Ratio (X)	0.79	0.87	0.38	0.29	0.00
Interest Coverage Ratio (X)	34.52	28.11	15.91	1.22	5.19
Interest Coverage Ratio (Post Tax) (X)	14.18	25.13	11.23	0.81	2.61
Enterprise Value (Cr.)	49.05	80.53	106.81	27.27	25.01
EV / Net Operating Revenue (X)	1.15	1.58	2.82	1.02	0.88
EV / EBITDA (X)	31.30	16.42	34.15	13.10	11.69
MarketCap / Net Operating Revenue (X)	0.90	1.25	2.30	0.37	0.36
Price / BV (X)	0.72	1.20	1.63	0.18	0.18
Price / Net Operating Revenue (X)	0.90	1.25	2.30	0.37	0.36
EarningsYield	0.00	0.02	-0.03	0.03	0.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

[display_about_company_data title=”About the Company – Qualitative Analysis”]

FAQ

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

As of 02 September 2026, Minal Industries Ltd's intrinsic value is ₹2.51, which is 30.08% lower than the current market price of ₹3.59, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (1.32 %), book value (₹2.77), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Minal Industries Ltd is trading at ₹3.59 as of 02 September 2026, with a FY2026-2027 high of ₹4.35 and low of ₹1.71. The stock is currently in the middle of its 52-week range. Market cap stands at ₹68.9 Cr..

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

Minal Industries Ltd has a P/E ratio of 186, which is above the industry average of 75.99. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Minal Industries Ltd financially healthy?

Key indicators for Minal Industries Ltd: ROCE of 1.42 % is on the lower side compared to the industry average of 74.93%; ROE of 1.32 % is below ideal levels (industry average: 15.08%). Dividend yield is 0.00 %.

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

Minal Industries Ltd reported a net profit of ₹4 Cr in Mar 2025 on revenue of ₹51 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Minal Industries Ltd pay dividends?

Minal Industries Ltd has a dividend yield of 0.00 % at the current price of ₹3.59. The company is currently not paying meaningful dividends.