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Madhav Copper Ltd.
(MCL)
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Rating:54Neutral
Price Target:
₹59.00
▲(10.55% Upside)
Action:Reiterated
Date:09/06/26
The score is driven primarily by improving but uneven fundamentals: strong revenue rebound and profitability are offset by margin compression, higher leverage, and volatile/thin cash conversion. Technicals are neutral with only modest positive momentum, while valuation is a headwind given the high P/E and no dividend yield data.
Positive Factors
Strong Revenue Acceleration
The sharp FY2026 revenue rebound indicates renewed demand for the company’s copper products and improved commercial activity across electrical and industrial markets. If maintained, this top-line expansion can improve capacity utilization, deepen customer relationships, and provide a base for future earnings growth.
Negative Factors
Margin Compression
Lower gross and net margins reduce the earnings generated from each unit of copper product sold and make profits more sensitive to input costs or pricing pressure. Persistent compression could limit reinvestment, weaken earnings quality, and prevent strong revenue growth from translating into durable profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Acceleration
The sharp FY2026 revenue rebound indicates renewed demand for the company’s copper products and improved commercial activity across electrical and industrial markets. If maintained, this top-line expansion can improve capacity utilization, deepen customer relationships, and provide a base for future earnings growth.
Read all positive factors
Madhav Copper Ltd. (MCL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.58B
Dividend YieldN/A
Average Volume (3M)59.24K
Price to Earnings (P/E)35.0
Beta (1Y)1.14
Revenue Growth83.37%
EPS Growth-2.29%
CountryIN
Employees67
SectorGeneral
Sector StrengthN/A
IndustryCopper
Share Statistics
EPS (TTM)1.66
Shares Outstanding27,142,800
10 Day Avg. Volume45,766
30 Day Avg. Volume59,242
Financial Highlights & Ratios
PEG Ratio-7.18
Price to Book (P/B)2.97
Price to Sales (P/S)0.64
P/FCF Ratio56.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Madhav Copper Ltd. Business Overview & Revenue Model
Company Description
Madhav Copper Limited, an Indian enterprise, specializes in the production and distribution of a comprehensive range of copper-based goods. Its extensive product catalog features fabricated copper items such as enameled, paper-covered, poly-wrap s...
How the Company Makes Money
MCL primarily makes money by manufacturing and selling copper-based products to business customers. Revenue is generated from (1) sale of finished copper products (e.g., copper conductors/related copper items) where the company earns a margin betw...
Madhav Copper Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
57
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.68B | 2.34B | 1.25B | 355.00M | 0.00 | 1.22B |
| Gross Profit | 217.71M | 184.58M | 124.58M | 35.41M | -22.50M | 27.29M |
| EBITDA | 118.43M | 104.51M | 69.63M | 35.66M | -24.13M | 18.63M |
| Net Income | 45.05M | 44.88M | 46.88M | 12.27M | -44.14M | -24.40M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.13B | 768.22M | 640.87M | 1.03B | 1.15B |
| Cash, Cash Equivalents and Short-Term Investments | 4.66M | 4.66M | 2.87M | 2.71M | 2.21M | 3.85M |
| Total Debt | 0.00 | 416.11M | 261.86M | 131.83M | 10.38M | 73.38M |
| Total Liabilities | -501.97M | 626.44M | 311.13M | 230.66M | 635.78M | 704.46M |
| Stockholders Equity | 501.97M | 501.97M | 457.09M | 410.22M | 397.94M | 442.09M |
Cash Flow | ||||||
| Free Cash Flow | 83.92M | 26.18M | 8.47M | -21.84M | -5.96M | 5.79M |
| Operating Cash Flow | 84.42M | 29.76M | 16.37M | -13.14M | -5.81M | 30.99M |
| Investing Cash Flow | -504.65K | -3.58M | -5.26M | -6.61M | 5.40M | -14.58M |
| Financing Cash Flow | -38.15M | -23.99M | -26.57M | 20.40M | -1.08M | -13.33M |
Madhav Copper Ltd. Technical Analysis
Positive
53.37
Price Trends
55.99
Positive
58.16
Positive
60.72
Negative
Market Momentum
0.41
Positive
53.11
Neutral
40.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MCL, the sentiment is Positive. The current price of 53.37 is below the 20-day moving average (MA) of 58.29, below the 50-day MA of 55.99, and below the 200-day MA of 60.72, indicating a neutral trend. The MACD of 0.41 indicates Positive momentum. The RSI at 53.11 is Neutral, neither overbought nor oversold. The STOCH value of 40.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MCL.
Madhav Copper Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹1.58B | 35.02 | ― | ― | 83.37% | -2.29% | |
52 Neutral | ₹2.01B | 4.82 | ― | ― | -90.69% | ― | |
47 Neutral | ₹670.25M | 107.61 | ― | 0.39% | 19.54% | -60.99% |
* General Sector Average
IN:MCL
Madhav Copper Ltd.
58.30
10.38
21.66%
IN:ANKITMETAL
Ankit Metal & Power Limited
1.71
-0.29
-14.50%
IN:KUNDANMM
Kundan Minerals and Metals Limited
―
―
―
IN:METKORE
Metkore Alloys & Industries Limited
―
―
―
IN:PRAKASHSTL
Prakash Steelage Limited
3.83
-1.82
-32.21%
IN:SHAHALLOYS
Shah Alloys Limited
101.75
32.66
47.27%
Madhav Copper Ltd. Corporate Events
M Tek Copper Promoter Trims Stake in Minor Open-Market Sale
Aug 20, 2026
M Tek Copper Limited, formerly Madhav Copper Limited, operates in the copper and metal products industry, serving industrial customers and is listed on the National Stock Exchange under the symbol MCL. The company maintains an equity capital of Rs...
M Tek Copper Discloses Promoter Share Sale Under SEBI Insider Trading Rules
Aug 20, 2026
M Tek Copper Limited has disclosed a transaction by promoter Rajesh Odhavjibhai Patel under SEBI’s Prohibition of Insider Trading Regulations. Patel sold 2,500 equity shares of the company through an open market transaction on 18 August 2026...
M Tek Copper Appoints Chetan Gandhi & Associates as Cost Auditor for FY 2026–27
Aug 13, 2026
M Tek Copper Limited has appointed M/S Chetan Gandhi Associates as cost auditor for the financial year 2026–27, with the engagement effective from August 12, 2026 and subject to shareholder ratification of remuneration at the next annual ge...
M Tek Copper Publishes Postal Ballot Notice and Confirms Electronic Dispatch
Jul 11, 2026
M Tek Copper Limited has announced that it has dispatched a postal ballot notice electronically to its shareholders and has published the related advertisement in the Financial Express and Sandesh newspapers. The move is in line with regulatory re...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.