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Madhav Copper Ltd. (IN:MCL)
:MCL
India Market

Madhav Copper Ltd. (MCL) AI Stock Analysis

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IN:MCL

Madhav Copper Ltd.

(MCL)

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Neutral 53 (OpenAI - 5.2)
Rating:53Neutral
Price Target:
₹80.00
▲(49.00% Upside)
The score is held back primarily by expensive valuation (P/E 61.87) and weaker cash-flow conversion (OCF/NI 0.35) despite improved revenue growth and a moderately stable balance sheet. Technicals show a strong trend but extremely overbought signals (RSI 88.56, Stoch 100) add near-term downside risk.
Positive Factors
Revenue Growth
The significant revenue growth in 2025 indicates robust demand for MCL's products, suggesting a strong market position and potential for continued expansion.
Market Position
MCL's leadership in the copper industry positions it well to capitalize on increasing demand from sectors like electrical and automotive, supporting long-term growth.
Balance Sheet Stability
The company's moderate leverage and solid equity base provide financial stability, enabling it to invest in growth opportunities while managing risks.
Negative Factors
Profitability Concerns
Low net margins indicate challenges in achieving efficient operations, which could limit the company's ability to reinvest in growth and innovation.
Cash Flow Volatility
Erratic cash conversion rates suggest potential liquidity issues, impacting MCL's capacity to fund operations and growth sustainably.
Operational Inefficiencies
Operational inefficiencies, as evidenced by past negative EBIT, may hinder MCL's ability to maintain consistent profitability and operational effectiveness.

Madhav Copper Ltd. (MCL) vs. iShares MSCI India ETF (INDA)

Madhav Copper Ltd. Business Overview & Revenue Model

Company DescriptionMadhav Copper Limited manufactures and sells copper products in India. The company offers copper fabricated products, enameled copper wires, paper covered copper conductors, poly wrap submersible winding wires, fiberglass copper conductors, tapped insulated copper conductors, and bare copper wires, as well as copper bus bars, strips, rods, and profiles. Its products are used in pumps, motors, transformers, generators, hydro generators, alternators, wind generators, panels, and switch gears; automatic coil winding machines; and to fabricate in automatic CNC machines. Madhav Copper Limited was incorporated in 2012 and is based in Bhavnagar, India.
How the Company Makes MoneyMadhav Copper Ltd. generates revenue through the manufacturing and sale of copper products, including wires, rods, and strips. The company primarily earns money by supplying these products to various sectors, such as electrical utilities, construction firms, and automotive manufacturers, which require reliable and high-quality copper materials for their operations. Key revenue streams include direct sales to large industrial clients, distribution agreements with wholesalers, and contracts for large-scale projects. Significant partnerships with other manufacturers and suppliers enhance its market reach and operational capabilities, contributing to MCL's overall earnings.

Madhav Copper Ltd. Financial Statement Overview

Summary
Madhav Copper Ltd. shows strong revenue growth with a 251% increase from 2024 to 2025, but historical volatility and periods of negative EBIT indicate operational inefficiencies. The balance sheet is stable with a manageable Debt-to-Equity Ratio of 0.57, though asset fluctuations pose risks. Cash flow is erratic, with a positive Free Cash Flow in 2025 but challenges in converting income into cash.
Income Statement
Madhav Copper Ltd. shows a mixed performance in its income statement. The company has experienced significant revenue volatility over the years, with a recent surge in revenue in 2025. The Gross Profit Margin for 2025 stood at 10.0%, and Net Profit Margin was 3.8%. Revenue growth from 2024 to 2025 was impressive at 251%, indicating strong recovery or expansion. However, historical inconsistencies and periods of negative EBIT highlight potential operational inefficiencies.
Balance Sheet
The balance sheet of Madhav Copper Ltd. reflects moderate stability with a Debt-to-Equity Ratio of 0.57 in 2025, indicating manageable leverage. The Equity Ratio stands at 59.5%, showcasing a solid equity base. However, fluctuations in total assets and stockholders' equity over the years suggest underlying volatility in the company's capital structure, which could pose risks if not managed effectively.
Cash Flow
Cash flow analysis reveals erratic patterns, with Free Cash Flow turning positive in 2025 at 8.5 million. The Operating Cash Flow to Net Income Ratio is 0.35, suggesting challenges in converting income into cash. Additionally, the Free Cash Flow to Net Income Ratio stands at 0.18. The overall cash flow situation requires careful monitoring to ensure liquidity and operational flexibility.
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue1.46B1.25B355.00M0.001.22B3.83B
Gross Profit157.69M124.58M35.41M-22.50M27.29M169.46M
EBITDA72.79M69.63M35.66M-24.13M18.63M95.44M
Net Income46.10M46.88M12.27M-44.14M-24.40M44.69M
Balance Sheet
Total Assets0.00768.22M640.87M1.03B1.15B1.30B
Cash, Cash Equivalents and Short-Term Investments2.87M2.87M2.71M2.21M3.85M3.21M
Total Debt0.00261.86M131.83M10.38M73.38M29.49M
Total Liabilities-457.09M311.13M230.66M635.78M704.46M836.39M
Stockholders Equity457.09M457.09M410.22M397.94M442.09M466.49M
Cash Flow
Free Cash Flow0.008.47M-21.84M-5.96M5.79M-57.62M
Operating Cash Flow0.0016.37M-13.14M-5.81M30.99M20.02M
Investing Cash Flow0.00-5.26M-6.61M5.40M-14.58M-65.35M
Financing Cash Flow0.00-26.57M20.40M-1.08M-13.33M-25.78M

Madhav Copper Ltd. Technical Analysis

Technical Analysis Sentiment
Positive
Last Price53.69
Price Trends
50DMA
53.74
Positive
100DMA
51.94
Positive
200DMA
52.74
Positive
Market Momentum
MACD
6.74
Negative
RSI
62.95
Neutral
STOCH
35.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MCL, the sentiment is Positive. The current price of 53.69 is below the 20-day moving average (MA) of 64.87, below the 50-day MA of 53.74, and above the 200-day MA of 52.74, indicating a bullish trend. The MACD of 6.74 indicates Negative momentum. The RSI at 62.95 is Neutral, neither overbought nor oversold. The STOCH value of 35.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MCL.

Madhav Copper Ltd. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
66
Neutral
₹1.61B21.5429.24%75.16%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
61
Neutral
₹2.66B46.830.28%19.61%21.47%
57
Neutral
₹3.48B-27.100.19%-2962.74%
53
Neutral
₹1.92B57.27119.41%-35.45%
50
Neutral
₹644.21M-3.42-24.55%-310.57%
49
Neutral
₹1.29B-17.24-41.73%-37.19%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:MCL
Madhav Copper Ltd.
73.05
26.28
56.19%
IN:CUBEXTUB
Cubex Tubings Ltd
111.65
4.59
4.29%
IN:MANAKALUCO
Manaksia Aluminium Company Ltd
45.14
17.01
60.47%
IN:MANGALAM
Mangalam Drugs & Organics Ltd.
42.73
-61.32
-58.93%
IN:SALSTEEL
S.A.L. Steel Ltd.
40.18
19.16
91.15%
IN:SHYAMCENT
Shyam Century Ferrous Ltd.
6.13
-5.87
-48.92%

Madhav Copper Ltd. Corporate Events

Madhav Copper Discloses Promoter’s Open-Market Share Sale Under SEBI Norms
Dec 25, 2025

Madhav Copper Limited has reported that one of its promoters, Rajesh Odhavjibhai Patel, has sold a portion of his equity stake in the company through open-market transactions, in line with disclosure requirements under Indian takeover regulations. The company has notified the National Stock Exchange of India about this change in promoter shareholding as per Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, ensuring regulatory compliance and transparency for shareholders and market participants regarding shifts in promoter ownership.

Madhav Copper Discloses Promoter’s Open-Market Share Sale Under SEBI Norms
Dec 25, 2025

Madhav Copper Ltd. has notified the National Stock Exchange that it has received a disclosure from promoter Vishal Talsibhai Monpara regarding the sale of the company’s equity shares in the open market, as required under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing indicates a change in the promoter’s shareholding, a development closely watched by investors as it can signal shifts in promoter confidence, control dynamics, or future corporate strategy, though no further details on the size or rationale of the sale were provided in the disclosure.

Madhav Copper Discloses Promoter Share Sale Under SEBI Insider Trading Rules
Dec 25, 2025

Madhav Copper Limited has notified the National Stock Exchange that it has received a disclosure under Regulation 7(2)(a) of SEBI’s Prohibition of Insider Trading Regulations from promoter Vishal Talsibhai Monpara regarding the sale of equity shares in the company, and has filed the corresponding disclosure under Regulation 7(2)(b). The filing, made by the company’s compliance officer, signals a change in shareholding by a promoter that may be of interest to investors tracking promoter ownership and corporate governance practices, though no further details on the size or rationale of the transaction were provided.

Madhav Copper Discloses Promoter Share Sale Under SEBI Insider Trading Rules
Dec 25, 2025

Madhav Copper Limited has disclosed that one of its promoters, Rajesh Odhavjibhai Patel, has sold a portion of his equity stake in the company, as required under Regulation 7(2) of SEBI’s Prohibition of Insider Trading Regulations, 2015. The company has filed the necessary disclosure with the National Stock Exchange of India, signalling compliance with insider trading regulations and informing investors of a change in promoter shareholding, which may be monitored by stakeholders for any implications on ownership structure and governance.

Madhav Copper Discloses Promoter’s Sale of Shares Under SEBI Takeover Norms
Dec 24, 2025

Madhav Copper Limited has disclosed that one of its promoters, Rajesh Odhavjibhai Patel, has sold equity shares of the company on the open market, in line with regulatory requirements. The company informed the National Stock Exchange that it has received the prescribed disclosure under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, signaling a change in promoter shareholding that may be closely watched by investors and other stakeholders.

Madhav Copper Ltd. Shifts Registered Office in Bhavnagar
Nov 28, 2025

Madhav Copper Limited has announced a change in its registered office location within the city limits of Bhavnagar, Gujarat. This move, approved by the Board of Directors, is part of the company’s ongoing operational adjustments and will take effect immediately, reflecting the company’s commitment to maintaining efficient and effective business operations.

Madhav Copper Ltd. Relocates Office to Optimize Operations
Nov 28, 2025

Madhav Copper Ltd. has announced the relocation of its registered and corporate office within the city limits of Bhavnagar. This strategic move, approved by the Board of Directors, is expected to streamline operations and enhance the company’s logistical efficiency, reflecting its ongoing commitment to operational excellence.

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: Jan 04, 2026