Mukand

Why is Mukand Ltd falling/rising?

As of 30-Aug, Mukand Ltd's stock price is rising to 137.10, attributed to its outperformance against peers and attractive valuation despite declining investor participation. However, concerns about long-term fundamentals, such as low ROCE and high Debt to EBITDA, may affect future performance.

As of 30-Aug, Mukand Ltd's stock price is rising, currently at 137.10, with a change of 1.15 (0.85%) up. This upward movement can be attributed to several factors. Firstly, the stock has outperformed its sector by 0.25% today, indicating a relative strength compared to its peers. Additionally, despite a recent decline in investor participation, as evidenced by a 14.08% drop in delivery volume against the 5-day average, the stock remains liquid enough for trading, which can support price stability.<BR><BR>Moreover, Mukand Ltd is trading at a discount compared to its peers' average historical valuations, which may attract investors looking for value opportunities. The company has also shown a positive return of 6.73% over the past year, alongside a significant profit increase of 689.3%, suggesting that the stock has been able to generate substantial returns despite broader market challenges.<BR><BR>However, it is important to note that there are underlying concerns regarding the company's long-term fundamentals, such as a weak average Return on Capital Employed (ROCE) of 6.31% and a high Debt to EBITDA ratio of 9.92 times, which could impact future performance. Nonetheless, the current price increase reflects a short-term positive sentiment, likely driven by the stock's relative performance and valuation attractiveness.

Which are the latest news on Mukand?

Should I buy, sell or hold Mukand Ltd?

Who are in the management team of Mukand?

The management team of Mukand includes Niraj Bajaj (Chairman & Managing Director), Arvind M Kulkarni (President & Director), and several independent directors: Prakash V Mehta, Amit Yadav, Bharthi Gandhi, Sankaran Radhakrishnan, along with Rajendra Sawant (Company Secretary) and Niravnayan Niraj Bajaj (Whole-time Director). They are responsible for the company's strategic direction and governance.

The management team of Mukand includes the following key members:<BR><BR>1. **Niraj Bajaj** - Chairman & Managing Director<BR>2. **Prakash V Mehta** - Independent Director<BR>3. **Amit Yadav** - Independent Director<BR>4. **Bharthi Gandhi** - Independent Director<BR>5. **Sankaran Radhakrishnan** - Independent Director<BR>6. **Arvind M Kulkarni** - President & Director<BR>7. **Rajendra Sawant** - Company Secretary & Compliance Officer<BR>8. **Niravnayan Niraj Bajaj** - Whole-time Director<BR><BR>This team plays a crucial role in guiding the company's strategic direction and governance.

What does Mukand do?

Mukand Ltd is a manufacturer of special alloy and stainless steel products, operating in the Ferrous Metals industry. As of June 2026, it reported net sales of ₹1,362 Cr and a net profit of ₹57 Cr, with a market cap of ₹1,987 Cr.

Overview:<BR>Mukand Ltd is a manufacturer of special alloy steel and stainless steel products, operating in the Ferrous Metals industry within the Small Cap market-cap bracket.<BR><BR>History:<BR>Mukand Ltd was incorporated on 29 November 1937 in Mumbai. The latest quarterly results reported net sales and net profit for June 2026.<BR><BR>Financial Snapshot:<BR>- Net Sales: 1,362 Cr (Quarterly Results - Jun 2026)<BR>- Net Profit: 57 Cr (Quarterly Results - Jun 2026)<BR>- Market cap: INR 1,987 Cr (Small Cap)<BR><BR>Key Metrics:<BR>- P/E: 3.00<BR>- Industry P/E: 24<BR>- Dividend Yield: 2.20%<BR>- Debt Equity: 1.09<BR>- Return on Equity: 39.69%<BR>- Price to Book: 1.29<BR><BR>Contact Details:<BR>Address: Bajaj Bhavan Nariman Point, 226 Jamnalal Bajaj Marg Mumbai Maharashtra : 400021<BR>Tel: 91-022-61216666<BR>Email: investors@mukand.com<BR>Website: http://www.mukand.com

Who are the peers of the Mukand?

Mukand's peers include Kirl. Ferrous, Sunflag Iron, Jai Balaji Inds., Maithan Alloys, Prakash Industri, S.A.L Steel, Neetu Yoshi, VISA Chrome, Manaksia Steels, and Vraj Iron. Mukand has below average management and capital structure risks, with a 1-year return of 0.44%, significantly lower than S.A.L Steel's 357.01% but higher than Jai Balaji Inds.' -33.98%.

Peers: The peers of Mukand are Kirl. Ferrous, Sunflag Iron, Jai Balaji Inds., Maithan Alloys, Prakash Industri, S.A.L Steel, Neetu Yoshi, VISA Chrome, Manaksia Steels, and Vraj Iron.<BR><BR>Quality Snapshot: Excellent management risk is observed at Neetu Yoshi, while Good management risk is found at Kirl. Ferrous. Average management risk is present at Sunflag Iron, Jai Balaji Inds., Maithan Alloys, Manaksia Steels, and the rest. Below Average management risk is noted for Mukand, Prakash Industri, S.A.L Steel, and Vraj Iron. Growth is Excellent at Jai Balaji Inds. and Neetu Yoshi, while Average growth is seen at Mukand and the rest. Below Average growth is reported for Kirl. Ferrous, Sunflag Iron, Maithan Alloys, Prakash Industri, S.A.L Steel, and Vraj Iron. Excellent capital structure is noted at Maithan Alloys and Prakash Industri, Good capital structure at Kirl. Ferrous, Sunflag Iron, Manaksia Steels, and Below Average capital structure at Mukand, S.A.L Steel, and Vraj Iron.<BR><BR>Return Snapshot: The peer with the highest 1-year return is S.A.L Steel at 357.01%, while Jai Balaji Inds. has the lowest at -33.98%. Mukand's own 1-year return is 0.44%, which is significantly higher than Jai Balaji Inds. but much lower than S.A.L Steel. Additionally, Kirl. Ferrous, Jai Balaji Inds., Maithan Alloys, Prakash Industri, and Vraj Iron all have negative six-month returns.

How big is Mukand?

As of 14th August, Mukand Ltd has a market capitalization of 1,947.80 Cr, with recent net sales of 5,121.19 Cr and a net profit of 632.48 Cr. Shareholder's funds are 1,522.33 Cr, and total assets are valued at 3,958.92 Cr.

As of 14th August, Mukand Ltd has a market capitalization of 1,947.80 Cr, categorizing it as a Small Cap company.<BR><BR>In the latest four quarters, Mukand reported Net Sales of 5,121.19 Cr and a Net Profit of 632.48 Cr.<BR><BR>For the latest annual period ending in March 2026, Mukand's Shareholder's Funds amounted to 1,522.33 Cr, while Total Assets were valued at 3,958.92 Cr.

Are Mukand Ltd latest results good or bad?

Mukand Ltd's latest results show a significant net profit of ₹554.98 crores for Q4 FY26, primarily driven by exceptional income, while core operations faced an operating loss of ₹17.49 crores. Despite a year-on-year revenue growth of 14.65%, the reliance on non-recurring income raises concerns about the sustainability of earnings, suggesting investors should be cautious.

Mukand Ltd's latest results present a mixed picture. On one hand, the company reported a significant net profit of ₹554.98 crores for Q4 FY26, which is an impressive year-on-year increase of 4991.56%. However, this profit is largely attributed to exceptional other income of ₹508.34 crores, which accounted for 117.19% of profit before tax. This raises concerns about the sustainability of earnings, as the core operations actually recorded an operating loss of ₹17.49 crores, marking a substantial decline from the previous year.<BR><BR>Revenue for the quarter was ₹1,269.09 crores, reflecting a year-on-year growth of 14.65%, but it also showed a sequential decline of 4.53% from the previous quarter. The operating margin, excluding other income, fell to -1.38%, indicating operational challenges and cost pressures in the steel business.<BR><BR>In terms of market performance, the stock gained 2.99% following the results announcement, closing at ₹141.15, and is trading above key moving averages, suggesting a mildly bullish technical setup. However, the underlying operational issues and reliance on exceptional income for profit raise red flags about the company's financial health.<BR><BR>Overall, while the reported profit looks good on the surface, the operational losses and reliance on non-recurring income suggest that the results are not as strong as they might initially appear. Investors should approach with caution, keeping an eye on future operational performance.

How has been the historical performance of Mukand?

Mukand's historical performance shows a decline in net sales and profitability, with net sales dropping from 5,567.60 Cr in Mar'23 to 4,889.99 Cr in Mar'25, although operating profit improved from a loss to a profit. Total liabilities and assets increased, while cash flow from operations significantly improved despite a net cash outflow in Mar'25.

Answer:<BR>The historical performance of Mukand shows a fluctuating trend in net sales and profitability over the years, with a notable decline in recent periods.<BR><BR>Breakdown:<BR>Mukand's net sales have decreased from 5,567.60 Cr in Mar'23 to 4,889.99 Cr in Mar'25, reflecting a downward trend. The total operating income followed a similar pattern, dropping from 5,567.60 Cr in Mar'23 to 4,889.99 Cr in Mar'25. The company's operating profit (PBDIT) has shown some recovery, moving from a loss of -177.06 Cr in Mar'23 to a profit of 298.66 Cr in Mar'25, although it was higher at 408.13 Cr in Mar'23. Profit before tax also decreased from 178.78 Cr in Mar'23 to 118.30 Cr in Mar'25, and profit after tax fell from 178.29 Cr in Mar'23 to 75.89 Cr in Mar'25. On the balance sheet, total liabilities increased from 2,967.53 Cr in Mar'24 to 3,516.71 Cr in Mar'25, while total assets rose from 2,967.53 Cr to 3,516.71 Cr in the same period. Cash flow from operating activities improved significantly from -101.00 Cr in Mar'22 to 180.00 Cr in Mar'25, although the net cash outflow was recorded at -29.00 Cr in Mar'25. Overall, Mukand's financial performance reflects challenges in sales and profitability, with some recovery in operational cash flow.

Is Mukand technically bullish or bearish?

As of November 13, 2025, Mukand's technical trend is mildly bullish based on daily moving averages, despite mixed signals from weekly indicators suggesting caution.

As of 13 November 2025, the technical trend for Mukand has changed from sideways to mildly bullish. The current stance is mildly bullish, driven primarily by the daily moving averages indicating a bullish trend. However, the weekly MACD and KST are mildly bearish, suggesting some caution. The Bollinger Bands and Dow Theory are also bearish on a weekly basis, which contrasts with the monthly indicators showing mild bullishness. Overall, while there are mixed signals, the daily indicators provide a stronger bullish bias in the short term.

Who are the top shareholders of the Mukand?

The top shareholders of Mukand include Jamnalal Sons Private Limited with 19.92%, Siddhant Commercials Private Limited at 2.48%, and individual investors holding 15.59%. There are also 15 foreign institutional investors with 0.28% and four mutual fund schemes with negligible holdings, with no pledged promoter holdings.

The top shareholders of Mukand include several key players. The largest shareholder is Jamnalal Sons Private Limited, which holds 19.92% of the shares. Following that, Siddhant Commercials Private Limited is the highest public shareholder with a stake of 2.48%. Additionally, individual investors collectively hold 15.59% of the shares. There are also 15 foreign institutional investors (FIIs) with a combined holding of 0.28%, and four mutual fund schemes that hold a negligible amount (0.0%). Notably, there are no pledged promoter holdings, indicating a strong position among the promoters.

Is Mukand overvalued or undervalued?

As of June 24, 2025, Mukand's valuation is considered attractive with a PE ratio of 26.12, lower than peers like JSW Steel and Tata Steel, and its recent stock performance has outpaced the Sensex, indicating positive market sentiment despite being fairly valued.

As of 24 June 2025, Mukand's valuation grade has moved from very attractive to attractive, indicating a shift in market perception. The company is currently considered fairly valued. Key ratios include a PE ratio of 26.12, an EV to EBITDA of 12.37, and a Price to Book Value of 2.09. <BR><BR>When compared to peers, Mukand's PE ratio is notably lower than that of JSW Steel at 65.14 and Tata Steel at 51.03, both of which are rated as fair. In contrast, Jindal Steel, which is also attractive, has a PE ratio of 23.34, suggesting that Mukand may have room for improvement in its valuation. Additionally, Mukand's recent stock performance has outpaced the Sensex, with a 1-week return of 17.10% compared to the Sensex's 0.58%, reinforcing a positive sentiment around the stock despite its overall valuation status.

When is the next results date for Mukand?

No Upcoming Board Meetings

Has Mukand declared dividend?

Yes, Mukand Ltd has declared a 20% dividend, amounting to ₹2 per share, with an ex-date of July 26, 2024. While recent total returns have been negative, the company has shown significant growth over the past five years, with a total return of 558.27%.

Mukand Ltd has declared a 20% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 20%<BR>- Amount per share: 2<BR>- Ex-date: 26 Jul 24<BR><BR>Dividend Yield: 1.67%.<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -18.56%, with a dividend return of 0%, resulting in a total return of -18.56%.<BR><BR>Over the past year, the price return was -20.81%, while the dividend return was 1.26%, leading to a total return of -19.55%.<BR><BR>In the 2-year period, the price return was -6.65%, with a dividend return of 3.10%, culminating in a total return of -3.55%.<BR><BR>For the 3-year period, there was no price return, but the dividend return was 5.29%, resulting in a total return of 5.29%.<BR><BR>In the 4-year period, the price return was -0.71%, and the dividend return was 5.26%, leading to a total return of 4.55%.<BR><BR>Over the last 5 years, the price return was an impressive 528.04%, with a dividend return of 30.23%, resulting in a total return of 558.27%.<BR><BR>Overall, Mukand Ltd has declared a dividend, and while the recent total returns have shown volatility, particularly in the shorter periods, the long-term performance reflects significant growth, especially in terms of price and dividends over five years.