MMP Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Aluminium Powder & Paste: 63.4% • Aluminium Foil: 22.3% • Aluminium Conductor: 14.0%
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Latest quarter profit grew 272.8% YoY, showing strong momentum
- Company has delivered good sales growth of 28.9% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.81x)
- Working capital cycle has improved - days down from 37 to 25
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
CONS
- Expensive relative to growth - PEG of 2.0
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| VAML | 445.35 | 0.00 | 174149.13 | 0.00 | 65970.00 | — | 213930.00 | — | 0.00 | 48.14 |
| NATIONALUM | 379.00 | 10.31 | 69608.34 | 3.03 | 2003.14 | 90.87 | 5302.38 | 39.28 | 39.71 | 51.08 |
| ARFIN | 89.06 | 81.47 | 1502.64 | 0.12 | 4.08 | 276.97 | 212.77 | 95.46 | 14.82 | 4.77 |
| MMP | 460.25 | 23.33 | 1169.16 | 0.43 | 13.70 | 353.19 | 232.60 | 26.89 | 10.57 | 10.17 |
| MAANALU | 110.10 | 864.51 | 660.43 | 0.00 | 3.10 | 13.55 | 231.86 | 9.79 | 10.76 | 2.32 |
| EUROBOND | 150.25 | 14.37 | 368.11 | 0.00 | 47.82 | 735.72 | 1198.13 | 1042.86 | 16.22 | 10.65 |
| MANAKALUCO | 38.92 | 28.82 | 255.06 | 0.13 | 2.85 | 82.76 | 139.59 | 3.85 | 10.52 | 9.60 |
| CENTEXT | 21.92 | 14.16 | 175.36 | 0.00 | 3.77 | 59.75 | 138.36 | 32.85 | 18.64 | 7.70 |
| HINDALUMI | 98.39 | 16.71 | 61.99 | 0.00 | 1.91 | -95.10 | 5.36 | 405.66 | -1.23 | 44.40 |
| GALPOWTEL | 22.52 | 0.00 | 19.96 | 0.00 | -1.44 | -111.76 | 0.00 | — | 5.41 | — |
| SORICH | — | — | — | — | — | — | — | — | 16.21 | — |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 151 | 126 | 141 | 160 | 156 | 145 | 168 | 223 | 183 | 187 | 203 | 248 | 232 | |
| 140 | 119 | 128 | 146 | 138 | 134 | 152 | 205 | 170 | 174 | 184 | 225 | 216 | |
| Operating Profit | 12 | 7 | 13 | 14 | 17 | 11 | 17 | 19 | 13 | 14 | 19 | 23 | 16 |
| OPM % | 7.63% | 5.85% | 9.35% | 8.82% | 11.21% | 7.82% | 9.88% | 8.32% | 7.06% | 7.31% | 9.34% | 9.41% | 6.90% |
| 0 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | -17 | 1 | 0 | 8 | 0 | |
| Interest | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 3 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 9 | 5 | 9 | 10 | 13 | 7 | 12 | 14 | -9 | 8 | 13 | 25 | 16 |
| Tax % | 25.14% | 23.82% | 25.33% | 26.52% | 25.40% | 34.24% | 25.63% | 25.72% | 24.68% | 25.74% | 25.34% | 28.85% | 25.42% |
| Net Profit | 6 | 4 | 7 | 8 | 10 | 5 | 9 | 10 | -7 | 6 | 10 | 18 | 12 |
| 2.56 | 1.40 | 2.70 | 2.96 | 3.89 | 1.80 | 3.46 | 3.98 | -2.75 | 2.37 | 3.86 | 6.92 | 4.76 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 203 | 243 | 261 | 242 | 231 | 448 | 538 | 579 | 692 | 822 | 871 | |
| 182 | 213 | 231 | 214 | 205 | 406 | 503 | 532 | 628 | 753 | 799 | |
| Operating Profit | 21 | 30 | 29 | 28 | 26 | 42 | 35 | 46 | 64 | 69 | 72 |
| OPM % | 10.23% | 12.17% | 11.19% | 11.43% | 11.27% | 9.35% | 6.55% | 7.99% | 9.24% | 8.39% | 8.27% |
| 5 | 1 | 4 | 3 | 1 | 0 | 1 | 1 | 2 | -8 | 9 | |
| Interest | 4 | 4 | 3 | 2 | 2 | 4 | 4 | 7 | 10 | 13 | 14 |
| Depreciation | 2 | 2 | 2 | 3 | 5 | 6 | 7 | 8 | 10 | 11 | 11 |
| Profit before Tax | 20 | 24 | 28 | 25 | 21 | 32 | 25 | 33 | 46 | 37 | 62 |
| Tax % | 28.34% | 36.93% | 27.66% | 23.28% | 24.18% | 24.84% | 24.59% | 25.44% | 26.90% | 27.95% | 26.81% |
| Net Profit | 14 | 15 | 21 | 19 | 16 | 24 | 19 | 24 | 33 | 26 | 46 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 6.21 | 9.60 | 7.28 | 9.61 | 13.13 | 10.40 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 16.10% | 10.42% | 13.73% | 15.60% | 15.24% | 19.22% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 16%
- 5 Years:
- 29%
- 3 Years:
- 15%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 11%
- 3 Years:
- 13%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 22%
- 3 Years:
- 24%
- 1 Year:
- 63%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 10%
- 3 Years:
- 10%
- Last Year:
- 9%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 12 | 17 | 25 | 25 | 25 | 25 | 25 | 25 | 25 |
| 38 | 47 | 143 | 154 | 170 | 192 | 207 | 229 | 258 | 279 | |
| 41 | 37 | 21 | 18 | 31 | 54 | 59 | 92 | 149 | 146 | |
| Trade Payables | 10 | 10 | 13 | 12 | 14 | 21 | 19 | 23 | 27 | 46 |
| 9 | 44 | 21 | 18 | 20 | 28 | 27 | 36 | 45 | 60 | |
| Total Liabilities | 106 | 151 | 215 | 228 | 261 | 320 | 337 | 406 | 506 | 556 |
| 37 | 37 | 44 | 90 | 112 | 147 | 160 | 183 | 220 | 238 | |
| Capital Work in Progress | 1 | 0 | 24 | 17 | 29 | 4 | 15 | 27 | 23 | 17 |
| 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 24 | |
| 20 | 20 | 24 | 35 | 50 | 77 | 86 | 111 | 135 | 156 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57 | 90 | 88 | |
| Cash & Bank | 3 | 34 | 48 | 16 | 5 | 0 | 2 | 0 | 11 | 1 |
| 38 | 52 | 67 | 62 | 58 | 84 | 66 | 20 | 18 | 32 | |
| Total Assets | 106 | 151 | 215 | 228 | 261 | 320 | 337 | 406 | 506 | 556 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 18 | 21 | 25 | 39 | 26 | 38 | 43 | 55 | 54 | |
| Cash from Investing | -3 | -2 | -76 | -7 | -27 | -19 | -24 | -42 | -43 | -41 |
| Cash from Financing | -1 | 22 | 43 | -3 | -1 | 0 | -7 | -3 | -2 | -24 |
| 2 | 31 | -23 | 8 | 7 | -0 | 2 | -2 | 10 | -10 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-21 - MMP Industries Limited has informed the Exchange regarding a press release dated August 21, 2026, titled "MMP Industries Limited Receives Export Order Worth US$100,000 from Venezuela".
2026-08-19 - MMP Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-18 - MMP Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 12, 2026
2026-08-18 - MMP Industries Limited has informed the Exchange that Record date for the purpose of Dividend is 05-Sep-2026.
2026-08-14 - MMP Industries Limited has informed the Exchange regarding 'Outcome of Board Meeting 10.08.2026 in Machine readable Format'.
2026-08-13 - MMP Industries Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Investor Presentation for Q1FY 27 June, 2026 ".
2026-08-13 - MMP Industries Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-10 - MMP Industries Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Financial Results for Q1 FY27".
2026-08-10 - MMP Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for MMP
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