Mukand Limited (MUKANDLTD) AI Stock Analysis

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Mukand Limited

(NSE:MUKANDLTD)

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Rating:62Neutral

Price Target:INR 150.00▲(6.19% Upside)

Action:reiterated

Date:09/26/26

The score is driven primarily by mixed financial quality: improved profitability and balance-sheet repair are offset by highly inconsistent operating/free cash flow, which is a key risk. Valuation is a major positive due to the very low P/E and a modest dividend. Technically, the trend is upward, but overbought indicators raise near-term pullback risk.

Positive Factors

Improved ProfitabilityThe shift from a 2021 loss to positive earnings across 2022–2026 indicates meaningful earnings recovery. If profitability remains positive, Mukand can strengthen its balance sheet, support reinvestment, and improve resilience through the next several quarters.

Negative Factors

Unreliable Cash GenerationRepeated swings between positive and negative operating and free cash flow show that reported earnings are not consistently converting into liquidity. This can constrain debt reduction, investment and shareholder returns, while increasing financial pressure during weaker steel-market conditions.

Mukand Limited (MUKANDLTD) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 20.44B
Dividend Yield: 2.12%
Average Volume (3M): 26.91K
Price to Earnings (P/E): 3.2
Beta (1Y): 1.50
Revenue Growth: 7.62%
EPS Growth: 684.82%
Country: India
Employees: 1,466
Sector: General
Sector Strength: 55
Industry: Steel

Mukand Limited Business Overview & Revenue Model

Company Description

Mukand Limited, established in Mumbai, India, in 1937, operates as a key player in the manufacturing and distribution of alloy and stainless steel products domestically. The company's business activities are structured into distinct segments. Its cor...

Mukand Limited Financial Statement Overview

Summary

Profitability has improved versus the 2021 loss and leverage ratios have moderated, but operating performance is volatile and the biggest weakness is cash-flow reliability: operating and free cash flow were negative in multiple years (including 2022 and 2026), raising sustainability and liquidity risk in a cyclical steel business.

Income Statement

55Neutral

Balance Sheet

58Neutral

Cash Flow

34Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	51.23B	48.90B	48.90B	51.55B	55.68B	46.43B
Gross Profit	8.81B	8.29B	12.13B	2.18B	9.21B	2.36B
EBITDA	6.42B	7.25B	2.84B	3.08B	4.08B	3.48B
Net Income	6.32B	6.04B	758.90M	1.03B	1.72B	1.76B
Balance Sheet
Total Assets	0	40.77B	35.42B	30.46B	31.78B	34.68B
Cash, Cash Equivalents and Short-Term Investments	309.10M	316.60M	260.00M	510.10M	1.97B	433.30M
Total Debt	0	16.97B	15.59B	14.89B	15.05B	20.26B
Total Liabilities	-15.22B	25.55B	25.92B	21.25B	23.24B	28.44B
Stockholders Equity	15.22B	15.22B	9.50B	9.21B	8.54B	6.66B
Cash Flow
Free Cash Flow	-1.84B	-6.95B	540.30M	123.20M	449.50M	-2.99B
Operating Cash Flow	-1.41B	-5.86B	1.80B	649.40M	1.06B	-1.04B
Investing Cash Flow	-260.30M	4.72B	-1.24B	990.40M	6.19B	2.79B
Financing Cash Flow	1.52B	1.09B	-857.60M	-1.52B	-7.28B	-1.66B

Mukand Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price141.25

Price Trends

50DMA151.51Negative

100DMA143.21Negative

200DMA135.96Positive

Market Momentum

MACD-3.09Positive

RSI36.51Neutral

STOCH22.34Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MUKANDLTD, the sentiment is Negative. The current price of 141.25 is below the 20-day moving average (MA) of 164.95, below the 50-day MA of 151.51, and above the 200-day MA of 135.96, indicating a neutral trend. The MACD of -3.09 indicates Positive momentum. The RSI at 36.51 is Neutral, neither overbought nor oversold. The STOCH value of 22.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MUKANDLTD.

Mukand Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:MUKANDLTD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:MAHSEAMLES	74Outperform	INR 72.17B	9.78	―	1.86%	-12.21%	-16.07%
IN:RATNAMANI	71Outperform	INR 162.60B	37.55	―	0.43%	-16.30%	-24.14%
IN:WELCORP	69Neutral	INR 615.85B	26.07	―	0.21%	13.62%	9.05%
IN:JSL	68Neutral	INR 555.86B	16.65	―	0.44%	11.65%	20.53%
IN:MUKANDLTD	62Neutral	INR 20.41B	3.23	―	2.12%	7.62%	684.82%
IN:JINDALSAW	61Neutral	INR 146.03B	26.52	―	0.88%	-0.73%	-60.06%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:MUKANDLTD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:MUKANDLTD	Mukand Limited	141.25	3.15	2.28%
IN:JINDALSAW	Jindal Saw Limited	228.35	55.59	32.18%
IN:JSL	Jindal Stainless Limited	674.25	-72.54	-9.71%
IN:MAHSEAMLES	Maharashtra Seamless Limited	538.60	-33.19	-5.81%
IN:RATNAMANI	Ratnamani Metals & Tubes Ltd.	2319.85	-150.56	-6.09%
IN:WELCORP	Welspun Corp Limited	2334.60	1384.76	145.79%

Mukand Limited Corporate Events

Mukand Limited Board Clears Q1 FY2026 Unaudited Results After Independent Review

Aug 12, 2026

Mukand Limited’s board of directors has approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, at its meeting held on August 12, 2026. The results, prepared under Indian Accounting Standard 34...

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 26, 2026

Mukand Limited AI Stock Analysis