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Manugraph India Limited (IN:MANUGRAPH)
:MANUGRAPH
India Market
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Manugraph India Limited (MANUGRAPH) AI Stock Analysis

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IN:MANUGRAPH

Manugraph India Limited

(MANUGRAPH)

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Neutral 42 (OpenAI - 5.2)
Rating:42Neutral
Price Target:
₹13.50
▼(-15.63% Downside)
Action:Reiterated
Date:04/09/26
Overall score is held down primarily by weak financial performance (declining revenue, persistent losses, and negative operating cash flow) and balance-sheet pressure. Technicals are mixed with a short-term lift but a broader downtrend, and valuation (P/E 28.2 with no dividend yield provided) offers limited support.
Positive Factors
Recurring after-sales revenue
Manugraph’s business generates recurring revenue from after-sales services and spare parts tied to its installed base. This creates steadier, higher-frequency cash flows that are less cyclical than new machine sales and support long-term revenue predictability and customer retention.
Negative Factors
Negative operating cash flow
Persistent negative operating cash flow undermines the firm’s ability to fund capex, spare-parts inventory and working capital from operations. For a capital-equipment supplier, weak OCF forces reliance on external financing and constrains investments needed to support long-term service revenue growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring after-sales revenue
Manugraph’s business generates recurring revenue from after-sales services and spare parts tied to its installed base. This creates steadier, higher-frequency cash flows that are less cyclical than new machine sales and support long-term revenue predictability and customer retention.
Read all positive factors

Manugraph India Limited (MANUGRAPH) vs. iShares MSCI India ETF (INDA)

Manugraph India Limited Business Overview & Revenue Model

Company Description
Manugraph India Limited engages in the manufacture and sale of printing machines in India. It offers newspaper web offset, folder, and packaging converting machines. The company also exports its products to Germany, France, the United Kingdom, the...
How the Company Makes Money
Manugraph India Limited makes money primarily by selling capital equipment used in print production—most notably printing presses and related machinery/systems—where revenue is recognized from the supply (and where applicable, installation/commiss...

Manugraph India Limited Financial Statement Overview

Summary
Financials are weak: revenues have been declining, profitability is consistently negative (negative EBIT and net income), and operating cash flow is negative, keeping free cash flow pressured. Leverage has improved slightly, but equity has been shrinking and liabilities remain high relative to equity.
Income Statement
35
Negative
Balance Sheet
42
Neutral
Cash Flow
38
Negative
BreakdownTTMMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue801.97M593.48M657.58M790.91M454.26M294.98M
Gross Profit273.43M-6.47M174.22M224.60M171.38M104.33M
EBITDA28.92M-233.98M-165.70M-67.59M-117.53M-239.92M
Net Income448.00K-266.93M-198.58M-112.98M-139.48M-287.11M
Balance Sheet
Total Assets1.40B1.42B1.51B1.72B1.70B1.83B
Cash, Cash Equivalents and Short-Term Investments57.02M30.75M4.30M16.40M83.81M110.53M
Total Debt60.00M70.00M176.43M105.00M177.81M188.54M
Total Liabilities812.80M888.89M713.50M728.40M603.06M603.05M
Stockholders Equity591.18M532.75M797.11M991.40M1.10B1.23B
Cash Flow
Free Cash Flow30.48M-20.73M-66.20M-66.50M-13.85M-219.82M
Operating Cash Flow31.14M-19.37M-65.10M-61.00M-8.15M-219.40M
Investing Cash Flow10.74M145.58M3.87M166.60M36.41M131.26M
Financing Cash Flow-13.79M-106.75M50.00M-100.30M-35.97M71.53M

Manugraph India Limited Technical Analysis

Technical Analysis Sentiment
Negative
Last Price16.00
Price Trends
50DMA
13.37
Negative
100DMA
14.48
Negative
200DMA
17.55
Negative
Market Momentum
MACD
0.13
Positive
RSI
43.16
Neutral
STOCH
30.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANUGRAPH, the sentiment is Negative. The current price of 16 is above the 20-day moving average (MA) of 13.96, above the 50-day MA of 13.37, and below the 200-day MA of 17.55, indicating a bearish trend. The MACD of 0.13 indicates Positive momentum. The RSI at 43.16 is Neutral, neither overbought nor oversold. The STOCH value of 30.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MANUGRAPH.

Manugraph India Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (55)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
₹20.84B13.670.63%3.05%-4.66%
70
Outperform
₹9.64B19.040.24%35.74%20.06%
65
Neutral
₹33.91B43.171.06%-14.21%-20.18%
59
Neutral
₹155.11B63.5822.31%14.98%
55
Neutral
$13.29B17.4210.03%0.93%7.13%-12.93%
42
Neutral
₹400.87M28.2098.73%
* Services Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:MANUGRAPH
Manugraph India Limited
13.55
-5.01
-26.99%
IN:JYOTICNC
Jyoti Cnc Automation Limited
679.10
-536.55
-44.14%
IN:PIXTRANS
PIX Transmissions Ltd
1,527.95
-168.08
-9.91%
IN:SHANTIGEAR
Shanthi Gears Limited
445.00
-37.85
-7.84%
IN:MAMATA
Mamata Machinery Ltd.
405.10
37.45
10.19%
IN:RAJOOENG
Rajoo Engineers Limited
54.64
-75.70
-58.08%
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.Date of analysis: Apr 09, 2026