Manugraph India Limited (MANUGRAPH) AI Stock Analysis

• Market Cap: ₹699.24M
• Dividend Yield: N/A
• Average Volume (3M): 9.14K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.49
• Revenue Growth: 14.28%
• EPS Growth: 1.72%
• Country: IN
• Employees: 343
• Sector: Services
• Sector Strength: N/A
• Industry: Industrial - Machinery
• EPS (TTM): 2.25
• Shares Outstanding: 30,415,060
• 10 Day Avg. Volume: 7,028
• 30 Day Avg. Volume: 9,142
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹19.00
• Price Target Upside: -17.36% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 41 Neutral
• Price Target: ₹19.00 ▼(-17.36% Downside)

Manugraph India Limited's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and negative profitability. Technical analysis provides mixed signals, with no strong momentum. The valuation is unattractive due to a negative P/E ratio and lack of dividend yield. These factors collectively suggest caution for potential investors.

Manugraph India Limited Business Overview & Revenue Model

Company Description

Manugraph India Limited (MANUGRAPH) is a leading manufacturer of web offset printing presses in India. The company specializes in providing state-of-the-art printing solutions for the newspaper and commercial printing industries. With a strong emphasis on innovation and quality, Manugraph caters to both domestic and international markets, supplying a wide range of printing machines that are known for their precision and reliability.

How the Company Makes Money

Manugraph India Limited generates revenue primarily through the sale of its web offset printing presses. The company designs, manufactures, and sells a variety of printing machines that are used by newspapers and commercial printers. Revenue streams include direct sales to customers, both domestically and internationally, as well as after-sales services such as maintenance and spare parts supply. The company may also engage in partnerships or joint ventures to expand its market reach and enhance its technological capabilities, although specific partnerships are not detailed. Manugraph's earnings are influenced by factors such as technological advancements, customer demand for high-quality printing solutions, and its ability to maintain competitive pricing and robust customer support.

Manugraph India Limited Financial Statement Overview

Summary

Manugraph India Limited is facing significant financial challenges, with declining revenues, negative profitability, and constrained cash flows. The company is heavily leveraged, which poses a risk in a competitive industry like industrial machinery. Strategic measures are needed to stabilize revenues, improve margins, and manage debt to ensure long-term viability.

Income Statement

Manugraph India Limited has been experiencing a declining revenue trend over recent years, with a significant drop in total revenue from 2020 to 2025. The company has consistently reported negative EBIT and net income, indicating ongoing operational challenges and profitability issues. Gross and net profit margins are negative, highlighting a need for strategic realignment to improve financial health.

Balance Sheet

The debt-to-equity ratio improved slightly as of 2025, indicating some reduction in leverage. However, the company still maintains a high level of liabilities relative to equity. Stockholders' equity has been decreasing, reflecting losses from negative net income. The equity ratio shows a diminishing portion of assets financed by equity, pointing to potential financial instability.

Cash Flow

Manugraph India Limited's cash flow from operations remains negative, impacting its free cash flow negatively. Although there was a slight improvement in free cash flow from 2024 to 2025, the operating cash flow to net income ratio remains unfavorable. The company needs to focus on improving operational cash flows to sustain its financial commitments.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	645.32M	593.48M	795.70M	638.90M	454.26M	294.98M
Gross Profit	123.10M	-6.47M	224.60M	52.97M	171.38M	104.33M
EBITDA	-262.87M	-233.98M	-67.59M	-165.70M	-117.53M	-239.92M
Net Income	-273.07M	-266.93M	-110.30M	-198.58M	-139.48M	-287.11M
Balance Sheet
Total Assets	0.00	1.42B	1.72B	1.51B	1.70B	1.83B
Cash, Cash Equivalents and Short-Term Investments	18.36M	30.75M	16.40M	4.30M	83.81M	110.53M
Total Debt	0.00	70.00M	105.00M	176.43M	177.81M	188.54M
Total Liabilities	-588.16M	888.89M	728.40M	732.62M	603.06M	603.05M
Stockholders Equity	588.16M	532.75M	991.40M	797.11M	1.10B	1.23B
Cash Flow
Free Cash Flow	0.00	-20.73M	-66.50M	-66.20M	-13.85M	-219.82M
Operating Cash Flow	0.00	-19.37M	-61.00M	-65.10M	-8.15M	-219.40M
Investing Cash Flow	0.00	145.58M	166.60M	3.87M	36.41M	131.26M
Financing Cash Flow	0.00	-106.75M	-100.30M	50.00M	-35.97M	71.53M

Manugraph India Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 22.99
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MANUGRAPH, the sentiment is Positive. The current price of 22.99 is above the 20-day moving average (MA) of 22.42, above the 50-day MA of 21.03, and above the 200-day MA of 19.85, indicating a bullish trend. The MACD of 0.71 indicates Positive momentum. The RSI at 57.89 is Neutral, neither overbought nor oversold. The STOCH value of 21.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MANUGRAPH.

Manugraph India Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	56 Neutral	$13.56B	12.83	10.03%	0.92%	7.13%	-12.93%
SICALLOG	41 Neutral	₹6.26B	―		―	43.60%	53.99%
MANUGRAPH	41 Neutral	₹699.24M	―		―	14.28%	1.72%
AJRINFRA	―	₹640.44M	―		―	―	―
IL&FSENGG	36 Underperform	₹4.33B	―		―	-4.18%	82.74%
MEP	―	₹277.00M	―		―	―	―
SADBHAV	―	₹2.40B	―		―	―	―