Mukand Limited (MUKANDLTD) AI Stock Analysis

Mukand Limited

(NSE:MUKANDLTD)

Select Model

Rating:60Neutral

Price Target:INR 148.00▲(1.53% Upside)

Action:reiterated

Date:09/26/26

The overall score reflects moderate financial strength constrained by volatile profitability, high leverage, and weak, inconsistent cash flows as the dominant factors, partly offset by an apparently cheap valuation and a strong recent price rise that now looks stretched with elevated near-term risk.

Positive Factors

Improved profitabilityThe return to positive earnings across several years indicates a meaningful recovery from the 2021 loss rather than a single isolated improvement. This provides a stronger base for reinvestment and debt servicing, although the durability of profits still depends on stabilizing operating performance.

Negative Factors

Unreliable cash generationRepeated negative operating and free cash flow show that reported earnings have not consistently converted into internally generated cash. The large 2026 outflow increases concern over working-capital swings, liquidity needs and the company’s ability to fund investment or reduce debt sustainably.

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

Financial performance is mixed: revenues are roughly flat, profitability is volatile with recent earnings boosted by non-operating items, leverage remains elevated despite some balance-sheet improvement, and cash flows are weak and erratic, with the latest year showing deeply negative operating and free cash flow.

Income Statement

62Positive

Balance Sheet

55Neutral

Cash Flow

38Negative

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 Price145.77

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 145.77 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	80Outperform	INR 72.17B	9.78	―	1.86%	-12.21%	-16.07%
IN:WELCORP	74Outperform	INR 615.85B	26.07	―	0.21%	13.62%	9.05%
IN:RATNAMANI	71Outperform	INR 162.60B	37.55	―	0.43%	-16.30%	-24.14%
IN:JSL	68Neutral	INR 555.86B	16.65	―	0.44%	11.65%	20.53%
IN:JINDALSAW	61Neutral	INR 146.03B	26.52	―	0.88%	-0.73%	-60.06%
IN:MUKANDLTD	60Neutral	INR 20.41B	3.23	―	2.12%	7.62%	684.82%
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