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Mukand Limited
(MUKANDLTD)
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Rating:62Neutral
Price Target:
₹197.00
▲(42.14% 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
Profitability Recovery
The shift from a 2021 loss to positive earnings through 2026 indicates meaningful profitability recovery. Although earnings remain cyclical, this improvement provides a stronger base for ongoing operations and demonstrates that the business can generate accounting profits across several recent periods.
Negative Factors
Unreliable Cash Conversion
Repeated negative operating and free cash flow show that reported earnings have not converted consistently into cash. The large 2026 outflow heightens working-capital and liquidity concerns, potentially limiting flexibility to fund operations, reduce debt, or invest through the steel cycle.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Recovery
The shift from a 2021 loss to positive earnings through 2026 indicates meaningful profitability recovery. Although earnings remain cyclical, this improvement provides a stronger base for ongoing operations and demonstrates that the business can generate accounting profits across several recent periods.
Read all positive factors
Mukand Limited (MUKANDLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹25.52B
Dividend Yield1.7%
Average Volume (3M)36.40K
Price to Earnings (P/E)4.0
Beta (1Y)1.56
Revenue Growth7.62%
EPS Growth684.82%
CountryIN
Employees1,466
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)43.77
Shares Outstanding144,495,560
10 Day Avg. Volume70,639
30 Day Avg. Volume36,401
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.14
Price to Sales (P/S)0.35
P/FCF Ratio-2.49
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
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 ...
How the Company Makes Money
Mukand Limited primarily makes money through two operating segments: (1) Specialty Steel and (2) Industrial Machinery/Engineering. In the Specialty Steel segment, revenue is generated from the sale of alloy and special steel products (sold in diff...
Mukand Limited Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| 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 | 0.00 | 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 | 0.00 | 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
Positive
138.60
Price Trends
145.72
Positive
140.14
Positive
134.05
Positive
Market Momentum
11.38
Negative
65.34
Neutral
62.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MUKANDLTD, the sentiment is Positive. The current price of 138.6 is below the 20-day moving average (MA) of 158.69, below the 50-day MA of 145.72, and above the 200-day MA of 134.05, indicating a bullish trend. The MACD of 11.38 indicates Negative momentum. The RSI at 65.34 is Neutral, neither overbought nor oversold. The STOCH value of 62.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MUKANDLTD.
Mukand Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹82.84B | 11.23 | ― | 1.62% | -12.21% | -16.07% | |
68 Neutral | ₹697.63B | 30.14 | ― | 0.19% | 20.21% | 14.36% | |
68 Neutral | ₹172.44B | 26.33 | ― | 0.74% | -8.57% | -62.05% | |
65 Neutral | ₹176.47B | 40.86 | ― | 0.40% | -16.30% | -24.14% | |
64 Neutral | ₹583.57B | 17.98 | ― | 0.42% | 9.82% | 26.30% | |
62 Neutral | ₹25.52B | 4.02 | ― | 1.70% | 7.62% | 684.82% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MUKANDLTD
Mukand Limited
176.60
49.90
39.39%
IN:JINDALSAW
Jindal Saw Limited
269.65
66.52
32.75%
IN:JSL
Jindal Stainless Limited
707.85
-62.17
-8.07%
IN:MAHSEAMLES
Maharashtra Seamless Limited
618.25
44.39
7.73%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,517.75
205.48
8.89%
IN:WELCORP
Welspun Corp Limited
2,644.65
1,804.24
214.69%
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 ...
Mukand Limited Sets August e-AGM, Pushes Shareholders Toward Digital Access
Jul 22, 2026
Mukand Limited has notified shareholders and the stock exchanges that its 88th Annual General Meeting will be held on August 12, 2026 via video conferencing, in line with provisions of the Companies Act and SEBI and MCA e-AGM circulars. The compan...
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.