MMTC Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Others: 77.1% • Precious Metal: 21.4% • Fertilizers: 1.5%
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company is almost debt free
- Latest quarter profit grew 155.6% YoY, showing strong momentum
- Stock looks reasonably valued - P/E of 35.0 is below its historical median
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (38.2% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.79x)
- Company has a low return on equity of 7.9% over last 3 years
- Company's sales have been declining over the last five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 3100.00 | 56.37 | 419654.01 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| AEGISLOG | 1341.45 | 37.63 | 47084.89 | 0.65 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| PREMIERENE | 978.00 | 26.66 | 44396.46 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| CPPLUS | 3743.15 | 92.78 | 44281.63 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| REDINGTON | 377.85 | 17.37 | 29539.35 | 1.59 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.90 | 61.69 | 15352.48 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 20.87 | 14.58 |
| LLOYDSENT | 70.44 | 95.76 | 10753.03 | 0.21 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 772.60 | 78.32 | 9737.48 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 62.72 | 21.03 | 9408.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1821.70 | 63.22 | 7928.60 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| EBGNG | 675.50 | 54.07 | 7701.48 | 0.00 | 28.93 | 56.21 | 412.46 | 32.08 | 20.58 | 11.97 |
| CELLO | 337.20 | 24.31 | 7605.15 | 0.44 | 73.40 | -8.99 | 526.72 | -0.43 | 17.15 | 18.80 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 2 | 1 | 1 | 1 | 2 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | |
| 65 | 32 | 37 | 33 | 51 | 32 | 31 | 27 | 24 | 23 | 23 | 114 | 22 | |
| Operating Profit | -63 | -30 | -36 | -33 | -51 | -30 | -31 | -27 | -23 | -22 | -23 | -113 | -21 |
| OPM % | -2919.91% | -1674.59% | -4982.19% | -5125.00% | -7787.69% | -1938.46% | -12224.00% | -11843.48% | -1698.53% | -2004.55% | -6767.65% | -18604.92% | -3079.41% |
| 71 | 45 | 63 | 65 | 94 | 71 | 35 | 41 | 70 | 415 | 34 | 131 | 145 | |
| Interest | 0 | 1 | -1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Profit before Tax | 7 | 12 | 26 | 31 | 42 | 39 | 3 | 13 | 46 | 392 | 10 | 16 | 125 |
| Tax % | 57.34% | 12.18% | 12.76% | -2.58% | 25.15% | 3.15% | 118.67% | 97.45% | 20.07% | 65.95% | -5.97% | -103.86% | 24.75% |
| Net Profit | 3 | 11 | 23 | 32 | 32 | 38 | -1 | 0 | 37 | 134 | 10 | 32 | 94 |
| 0.02 | 0.07 | 0.15 | 0.21 | 0.21 | 0.25 | 0.00 | 0.00 | 0.24 | 0.89 | 0.07 | 0.21 | 0.62 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,708 | 16,451 | 28,979 | 24,135 | 26,382 | 8,393 | 273 | 5 | 3 | 3 | 3 | |
| 11,732 | 16,423 | 28,796 | 24,209 | 26,448 | 7,945 | 394 | 167 | 141 | 185 | 182 | |
| Operating Profit | -23 | 28 | 183 | -74 | -67 | 448 | -121 | -162 | -138 | -181 | -179 |
| OPM % | -0.20% | 0.17% | 0.63% | -0.30% | -0.25% | 5.34% | -44.58% | -3029.21% | -5140.89% | -5321.70% | -6574.73% |
| 135 | 55 | 8 | -6 | -823 | -101 | 1,517 | 244 | 241 | 651 | 726 | |
| Interest | 23 | 18 | 67 | 142 | 200 | 223 | 112 | 1 | 1 | 1 | 1 |
| Depreciation | 7 | 5 | 6 | 6 | 5 | 5 | 4 | 4 | 5 | 5 | 5 |
| Profit before Tax | 81 | 59 | 119 | -227 | -1,094 | 121 | 1,279 | 76 | 97 | 463 | 542 |
| Tax % | 29.76% | 17.40% | 31.33% | 0.05% | 29.66% | 297.16% | 15.88% | 10.29% | 28.47% | 54.23% | 50.34% |
| Net Profit | 57 | 49 | 81 | -227 | -770 | -238 | 1,076 | 68 | 70 | 212 | 269 |
| EPS | 0.57 | 0.33 | 0.54 | -1.51 | -5.13 | -1.59 | 7.17 | 0.45 | 0.46 | 1.41 | — |
| Dividend Payout % | 52.58% | 61.43% | 55.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -56%
- 5 Years:
- -83%
- 3 Years:
- -77%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 14%
- 5 Years:
- —
- 3 Years:
- -42%
STOCK PRICE CAGR
- 10 Years:
- 8%
- 5 Years:
- 6%
- 3 Years:
- -1%
- 1 Year:
- -4%
RETURN ON EQUITY
- 10 Years:
- -1%
- 5 Years:
- 19%
- 3 Years:
- 8%
- Last Year:
- 13%
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 | 100 | 100 | 150 | 150 | 150 | 150 | 150 | 150 | 150 | 150 |
| 1,334 | 1,349 | 1,339 | 1,034 | 272 | 43 | 1,115 | 1,204 | 1,306 | 1,549 | |
| 440 | 519 | 922 | 3,738 | 2,368 | 2,555 | 48 | 5 | 2 | 2 | |
| Trade Payables | 689 | 1,065 | 1,034 | 663 | 765 | 270 | 248 | 240 | 240 | 238 |
| 3,283 | 2,149 | 779 | 764 | 1,396 | 1,530 | 1,558 | 1,394 | 1,377 | 435 | |
| Total Liabilities | 5,846 | 5,182 | 4,224 | 6,349 | 4,951 | 4,549 | 3,119 | 2,993 | 3,075 | 2,374 |
| 52 | 48 | 45 | 44 | 38 | 34 | 30 | 26 | 22 | 16 | |
| 581 | 453 | 452 | 22 | 23 | 32 | 26 | 47 | 82 | 112 | |
| 2,367 | 1,711 | 280 | 218 | 46 | 30 | 1 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 122 | 119 | 24 | |
| Cash & Bank | 429 | 68 | 55 | 120 | 166 | 61 | 1,314 | 1,296 | 1,339 | 1,789 |
| 2,417 | 2,902 | 3,391 | 5,946 | 4,679 | 4,393 | 1,748 | 1,501 | 1,514 | 434 | |
| Total Assets | 5,846 | 5,182 | 4,224 | 6,349 | 4,951 | 4,549 | 3,119 | 2,993 | 3,075 | 2,374 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 324 | -461 | -303 | -2,498 | 1,592 | -111 | 1,107 | -353 | -367 | -605 | |
| Cash from Investing | -96 | 134 | 6 | -61 | 36 | 42 | 1,967 | 198 | 278 | 579 |
| Cash from Financing | 111 | 26 | 301 | 2,614 | -1,566 | -19 | -2,620 | -43 | -1 | -1 |
| 315 | -312 | -22 | 36 | 69 | -89 | 274 | -198 | -90 | -27 |
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
2026-09-08 - MMTC Limited has informed the Exchange regarding 'MMTC Limited has informed the Exchange regarding the receipt of 458 requests for Re-Lodgment of Transfer requests of Physical Shares as per SEBI Circular No. HO/38/13/11 (2) 2026-MIRSD-POD/I/3750/2026 dated January 30, 2026' for August 2026'.
2026-08-31 - MMTC Limited has informed the exchange regarding clarification pertaining to Regulations 17(1), 18(1), 19(1)/19(2), 20(2)/(2A) & 21(2) of SEBI (LODR) Regulations,2015
2026-08-24 - MMTC Limited has informed the Exchange about Copy of Newspaper Publication of Notice of 63rd AGM of MMTC Limited to be held on Thursday, 17.09.2026 at 11:00 a.m.
2026-08-24 - MMTC Limited has informed the Exchange regarding Notice of 63rd Annual General Meeting to be held on Thursday, September 17, 2026 at 11:00 A.M.
2026-08-21 - Significant increase in volume has been observed in MMTC Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. MMTC Limited has submitted their response.
2026-08-20 - Significant increase in volume has been observed in MMTC Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-13 - MMTC Limited has informed the Exchange about Publication of Extract of the Unaudited Financial Results (Standalone and Consolidated) in Newspaper (Hindi and English) for the quarter ended 30th June, 2026
2026-08-11 - Statement on Impact of Audit Qualification (Standalone & Consolidated) for the quarter ended 30 June 2026
2026-08-11 - MMTC Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
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