MMTC Limited (MMTC) AI Stock Analysis

MMTC Limited

(NSE:MMTC)

Select Model

Rating:46Neutral

Price Target:INR 49.00▼(-2.80% Downside)

Action:reiterated

Date:09/17/26

The score is held down primarily by weak and volatile financial performance—especially persistent negative operating/free cash flow and recent negative core operating profitability—along with bearish technical signals (below key moving averages and negative MACD). A strengthened balance sheet and a mid-range P/E provide some support but are not enough to offset the operating and cash-flow risks.

Positive Factors

Government-backed trading roleGovernment ownership and an established role in international and domestic commodity trading provide an enduring operating platform. Its permitted canalising activities and participation across imports, exports, and domestic sales can support continued access to several trading channels.

Negative Factors

Severe revenue volatilityThe sharp revenue collapse after the earlier high base indicates that MMTC’s operating run-rate is not dependable across cycles. Such volatility makes capacity planning, expense absorption, and forecasting more difficult, weakening confidence in durable growth over coming quarters.

MMTC Limited (MMTC) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 81.31B
Dividend Yield: ―
Average Volume (3M): 161.44K
Price to Earnings (P/E): 16.9
Beta (1Y): 1.76
Revenue Growth: -19.71%
EPS Growth: 355.54%
Country: India
Employees: 245
Sector: General
Sector Strength: 55
Industry: Conglomerates

MMTC Limited Business Overview & Revenue Model

Company Description

MMTC Limited, an Indian-based global trading conglomerate founded in 1963 and headquartered in New Delhi, maintains an extensive operational footprint across Asia, Europe, Africa, the Middle East, and both North and Latin America. The company's diver...

How the Company Makes Money

MMTC primarily makes money through commodity trading and distribution margins earned across import, export, and domestic trading operations. Key revenue streams typically include: (1) Precious metals trading (gold and silver): MMTC sources bullion th...

MMTC Limited Financial Statement Overview

Summary

Overall fundamentals are weak: income statement performance is highly unstable with revenue collapse in recent years and negative gross profit/EBIT in 2024–2026. Cash flow is a major concern with negative operating cash flow and free cash flow in 2024–2026, undermining earnings quality. The balance sheet is the main offset, showing low debt and improved equity versus the stressed prior period, but historical volatility remains a risk.

Income Statement

34Negative

Balance Sheet

63Positive

Cash Flow

28Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Jun 2022
Income Statement
Total Revenue	27.30M	34.10M	26.90M	53.40M	35.28B	112.42B
Gross Profit	-426.60M	-813.80M	-1.14B	-1.34B	1.20B	5.74B
EBITDA	3.44B	-1.82B	1.24B	818.60M	14.03B	3.19B
Net Income	4.47B	3.87B	866.30M	1.92B	15.62B	-2.58B
Balance Sheet
Total Assets	0	27.96B	34.78B	36.87B	36.78B	47.83B
Cash, Cash Equivalents and Short-Term Investments	17.89B	17.57B	14.31B	12.68B	12.87B	1.53B
Total Debt	0	24.20M	24.40M	1.59B	2.03B	26.26B
Total Liabilities	-21.21B	6.75B	17.76B	20.61B	22.66B	49.31B
Stockholders Equity	21.21B	21.21B	17.02B	16.26B	14.12B	-1.48B
Cash Flow
Free Cash Flow	-1.45B	-4.39B	-3.63B	-3.53B	7.54B	-17.20M
Operating Cash Flow	-1.45B	-4.39B	-3.63B	-3.53B	7.54B	-3.30M
Investing Cash Flow	1.02B	4.12B	2.78B	1.98B	19.59B	29.00M
Financing Cash Flow	318.60M	-2.10M	-53.90M	-434.20M	-25.47B	-51.30M

MMTC Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price50.41

Price Trends

50DMA58.66Negative

100DMA62.26Negative

200DMA62.51Negative

Market Momentum

MACD-2.21Positive

RSI31.34Neutral

STOCH22.90Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MMTC, the sentiment is Negative. The current price of 50.41 is below the 20-day moving average (MA) of 54.28, below the 50-day MA of 58.66, and below the 200-day MA of 62.51, indicating a bearish trend. The MACD of -2.21 indicates Positive momentum. The RSI at 31.34 is Neutral, neither overbought nor oversold. The STOCH value of 22.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MMTC.

MMTC Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:MMTC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BALMLAWRIE	78Outperform	INR 26.58B	9.52	―	5.47%	8.87%	2.96%
IN:MSTCLTD	60Neutral	INR 37.71B	16.07	―	2.93%	21.02%	-44.88%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:SINDHUTRAD	49Neutral	INR 35.59B	54.62	―	―	-63.67%	348.23%
IN:SBC	48Neutral	INR 31.51B	78.23	―	―	63.28%	80.14%
IN:MMTC	46Neutral	INR 75.61B	16.93	―	―	-19.71%	355.54%
IN:STCINDIA	38Underperform	INR 5.89B	0.90	―	―	―	2545.89%

* General Sector Average

Performance Comparison

IN:MMTC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:MMTC	MMTC Limited	50.41	-17.62	-25.90%
IN:BALMLAWRIE	Balmer Lawrie & Co. Ltd.	155.45	-36.62	-19.07%
IN:MSTCLTD	MSTC Ltd.	535.70	-2.98	-0.55%
IN:SBC	SBC Exports Ltd.	66.18	42.11	174.95%
IN:SINDHUTRAD	Sindhu Trade Links Ltd.	19.32	-4.39	-18.52%
IN:STCINDIA	State Trading Corporation of India Limited	98.20	-36.90	-27.31%

MMTC Limited Corporate Events

MMTC Sets 63rd AGM to Approve FY26 Results and Reshape Board

Aug 24, 2026

MMTC Limited has scheduled its 63rd Annual General Meeting for September 17, 2026, at 11:00 a.m. IST, to be conducted via video conferencing and other audio-visual means in line with corporate and securities regulations. The AGM will review and adopt...

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.

Date of analysis: Sep 17, 2026

MMTC Limited AI Stock Analysis