Modison Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 26.4% CAGR over last 5 years
- Latest quarter profit grew 603.6% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Operating margins have improved to 16.6% from 7.8%
- Company has delivered good sales growth of 19.4% CAGR over last 5 years
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.67x)
- Free cash flow has been persistently negative
- Total debt has risen sharply - up 139.8% year on year
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7419.90 | 52.62 | 157233.90 | 0.53 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| SIEMENS | 3976.00 | 43.23 | 141593.51 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31650.00 | 122.63 | 141071.53 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| CGPOWER | 893.95 | 112.67 | 140837.36 | 0.15 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| ENRIN | 3114.90 | 74.55 | 110927.98 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| GVT&D | 4325.00 | 593.01 | 110740.13 | 0.23 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| WAAREEENER | 2636.00 | 19.87 | 75824.89 | 0.15 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17412.20 | 61.71 | 72908.95 | 0.34 | 467.45 | 77.80 | 6591.06 | 29.64 | 31.84 | 11.50 |
| HAVELLS | 1156.00 | 44.42 | 72546.13 | 0.87 | 2897.10 | 733.63 | 65181.90 | 1094.83 | 25.74 | 7.15 |
| SUZLON | 45.38 | 19.84 | 62377.70 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1233.30 | 160.47 | 29488.70 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| MODISONLTD | 469.60 | 15.00 | 1523.85 | 1.17 | 33.84 | 603.64 | 270.47 | 101.63 | 28.76 | 18.52 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 86 | 97 | 108 | 114 | 116 | 122 | 121 | 130 | 134 | 145 | 144 | 287 | 270 | |
| 79 | 90 | 99 | 104 | 108 | 112 | 110 | 115 | 126 | 127 | 125 | 216 | 227 | |
| Operating Profit | 7 | 7 | 9 | 9 | 8 | 10 | 11 | 15 | 9 | 18 | 19 | 71 | 43 |
| OPM % | 7.74% | 7.53% | 7.92% | 8.30% | 6.96% | 8.29% | 9.22% | 11.82% | 6.38% | 12.71% | 13.18% | 24.84% | 16.07% |
| 3 | 2 | -0 | 2 | -4 | 4 | 0 | 2 | 2 | 1 | 13 | -18 | 3 | |
| Interest | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 4 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 |
| Profit before Tax | 7 | 8 | 6 | 9 | 2 | 11 | 8 | 13 | 6 | 16 | 27 | 48 | 46 |
| Tax % | 25.84% | 25.99% | 26.80% | 28.15% | 31.55% | 25.34% | 26.08% | 26.92% | 25.08% | 25.64% | 25.84% | 24.69% | 26.15% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 8 | 6 | 10 | 5 | 12 | 20 | 36 | 34 |
| 1.70 | 1.73 | 1.26 | 1.90 | 0.35 | 2.53 | 1.79 | 2.94 | 1.48 | 3.59 | 6.18 | 11.09 | 10.43 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 168 | 191 | 201 | 219 | 292 | 340 | 335 | 405 | 490 | 710 | 847 | |
| 142 | 159 | 174 | 192 | 252 | 309 | 310 | 373 | 446 | 592 | 694 | |
| Operating Profit | 26 | 31 | 27 | 27 | 40 | 30 | 25 | 32 | 44 | 118 | 152 |
| OPM % | 15.53% | 16.45% | 13.46% | 12.37% | 13.73% | 8.96% | 7.33% | 7.92% | 8.94% | 16.61% | 17.98% |
| 1 | 0 | 5 | 0 | -2 | -2 | -1 | 6 | 4 | -2 | -1 | |
| Interest | 4 | 3 | 2 | 2 | 2 | 2 | 2 | 3 | 6 | 9 | 11 |
| Depreciation | 6 | 6 | 6 | 6 | 6 | 7 | 6 | 6 | 8 | 10 | 10 |
| Profit before Tax | 17 | 22 | 24 | 19 | 30 | 20 | 15 | 29 | 34 | 97 | 136 |
| Tax % | 36.68% | 35.41% | 30.23% | 19.85% | 24.73% | 26.06% | 27.13% | 26.69% | 26.42% | 25.18% | 25.52% |
| Net Profit | 11 | 14 | 16 | 15 | 22 | 15 | 11 | 21 | 25 | 73 | 102 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 6.91 | 4.51 | 3.44 | 6.58 | 7.61 | 22.35 | — |
| Dividend Payout % | 29.82% | 22.75% | 29.68% | 21.47% | 21.69% | 22.18% | 29.03% | 37.98% | 46.02% | 24.61% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 19%
- 3 Years:
- 29%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 32%
- 5 Years:
- 26%
- 3 Years:
- 87%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 80%
- 1 Year:
- 186%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 13%
- 3 Years:
- 17%
- Last Year:
- 30%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| 101 | 111 | 124 | 144 | 161 | 173 | 184 | 200 | 213 | 271 | |
| 21 | 18 | 13 | 25 | 12 | 17 | 6 | 32 | 72 | 173 | |
| Trade Payables | 5 | 4 | 6 | 5 | 6 | 7 | 9 | 10 | 10 | 16 |
| 15 | 16 | 16 | 14 | 20 | 14 | 19 | 26 | 21 | 39 | |
| Total Liabilities | 145 | 152 | 162 | 191 | 203 | 214 | 222 | 271 | 319 | 503 |
| 61 | 58 | 58 | 56 | 60 | 67 | 65 | 76 | 89 | 92 | |
| Capital Work in Progress | 1 | 1 | 1 | 3 | 3 | 3 | 10 | 10 | 3 | 3 |
| 0 | 2 | 2 | 4 | 2 | 2 | 2 | 2 | 0 | 0 | |
| 40 | 42 | 47 | 61 | 60 | 65 | 79 | 96 | 127 | 220 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 66 | 86 | 160 | |
| Cash & Bank | 2 | 2 | 2 | 3 | 0 | 5 | 1 | 1 | 1 | 1 |
| 41 | 48 | 52 | 65 | 77 | 73 | 64 | 20 | 12 | 26 | |
| Total Assets | 145 | 152 | 162 | 191 | 203 | 214 | 222 | 271 | 319 | 503 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 31 | 21 | 25 | 26 | 31 | 21 | 27 | 1 | -16 | -64 | |
| Cash from Investing | -11 | -3 | -8 | -15 | -4 | -11 | -13 | -20 | -9 | -15 |
| Cash from Financing | -15 | -9 | -10 | -3 | -21 | 1 | -14 | 19 | 24 | 80 |
| -0 | -0 | 0 | 1 | -1 | 4 | -4 | 0 | -0 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 3.35 | 4.40 | 5.05 | 4.66 | 6.91 | 4.51 | 3.44 | 6.58 | 7.61 | 22.35 |
| Book Value (₹) | 32.04 | 35.16 | 39.01 | 45.15 | 50.61 | 54.07 | 57.55 | 62.58 | 66.65 | 84.53 |
| Dividend per Share (₹) | 1.00 | 1.00 | 1.50 | 1.00 | 1.50 | 1.00 | 1.00 | 2.50 | 3.50 | 5.50 |
| Cash EPS (₹) | 5.32 | 6.37 | 6.99 | 6.56 | 8.79 | 6.55 | 5.39 | 8.52 | 10.08 | 25.33 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 14.79% | 15.39% | 14.05% | 13.70% | 14.26% | 9.45% | 7.78% | 7.92% | 8.94% | 16.61% |
| Net Margin % | 5.93% | 6.86% | 7.99% | 6.89% | 7.68% | 4.31% | 3.34% | 5.28% | 5.03% | 10.21% |
| ROE % | 10.83% | 13.08% | 13.63% | 11.07% | 14.44% | 8.61% | 6.17% | 10.96% | 11.77% | 29.57% |
| ROCE % | 16.71% | 19.52% | 18.80% | 13.48% | 18.38% | 11.90% | 8.91% | 15.03% | 15.09% | 28.76% |
| 7.45% | 9.62% | 10.44% | 8.57% | 11.41% | 7.02% | 5.13% | 8.67% | 8.36% | 17.65% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 59 | 60 | 72 | 72 | 66 | 63 | 60 | 54 | 57 | 63 |
| Inventory Days | 84 | 72 | 79 | 90 | 75 | 67 | 78 | 79 | 83 | 89 |
| Payable Days | 14 | 12 | 13 | 13 | 9 | 9 | 11 | 11 | 9 | 9 |
| 130 | 120 | 138 | 149 | 132 | 122 | 128 | 122 | 131 | 144 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.20x | 0.16x | 0.11x | 0.18x | 0.07x | 0.10x | 0.03x | 0.16x | 0.34x | 0.64x |
| Interest Coverage (x) | 5.79x | 8.34x | 12.28x | 9.64x | 14.70x | 10.18x | 9.50x | 10.99x | 6.62x | 11.59x |
| 2.40x | 2.97x | 3.53x | 3.11x | 4.00x | 4.13x | 4.80x | 2.74x | 2.32x | 1.81x | |
| GROWTH | ||||||||||
| Revenue Growth % | -1.93% | 13.40% | 5.48% | 8.99% | 33.22% | 16.23% | -1.42% | 20.87% | 21.18% | 44.89% |
| Operating Profit Growth % | 60.13% | 17.85% | -9.90% | 4.24% | 38.65% | -22.96% | -18.88% | 25.80% | 48.48% | 155.19% |
| Net Profit Growth % | 136.41% | 31.11% | 14.96% | -7.83% | 48.42% | -34.79% | -23.61% | 91.13% | 15.54% | 193.88% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 91.13% | 15.54% | 193.88% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 17.81x | 16.15x | 5.19x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.87x | 1.84x | 1.37x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.13% | 2.85% | 4.74% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 12.55x | 9.67x | 4.43x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-04 - Significant movement in price has been observed in MODISON 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. MODISON LIMITED has submitted their response.
2026-09-04 - Significant movement in price has been observed in MODISON 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. MODISON LIMITED has submitted their response.
2026-09-03 - Significant movement in price has been observed in MODISON 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.
2026-08-14 - MODISON LIMITED has informed the Exchange about Copy of Newspaper Publication-Unaudited Financial Results for Q1/ 2026-27
2026-08-13 - MODISON LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-22 - MODISON LIMITED has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 21, 2026. Further, the company has informed the Exchange regarding voting results.
2026-07-21 - MODISON LIMITED has informed the Exchange regarding Proceedings of Annual General Meeting held on July 21, 2026
2026-07-08 - MODISON LIMITED has informed the Exchange regarding 'Shareholders Communication- Tax deduction on Dividend, if declared and payable during financial year 2026-27'.
2026-07-08 - MODISON LIMITED has informed the Exchange about Certificate under Regulation 74 (5) of SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended June 30, 2026
News
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