Madhav Copper Ltd. (MCL) AI Stock Analysis

• Market Cap: ₹1.59B
• Dividend Yield: N/A
• Average Volume (3M): 191.47K
• Price to Earnings (P/E): 34.5
• Beta (1Y): 1.55
• Revenue Growth: 149.86%
• EPS Growth: 36.89%
• Country: IN
• Employees: 67
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Copper
• EPS (TTM): 0.38
• Shares Outstanding: 27,142,800
• 10 Day Avg. Volume: 514,792
• 30 Day Avg. Volume: 191,470
• PEG Ratio: 0.10
• Price to Book (P/B): 2.95
• Price to Sales (P/S): 1.08
• P/FCF Ratio: 159.37
• 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: ₹61.00
• Price Target Upside: 4.22% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 59 Neutral
• Price Target: ₹61.00 ▲(4.22% Upside)

Madhav Copper Ltd.'s stock score is driven by strong recent revenue growth and bullish technical indicators. However, high valuation and historical financial volatility, along with overbought technical signals, temper the overall attractiveness.

Madhav Copper Ltd. Business Overview & Revenue Model

Company Description

Madhav 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 Money

Madhav Copper Ltd. generates revenue primarily through the manufacture and sale of copper products. The company's key revenue streams include the sale of copper rods, wires, and strips to industries involved in electrical and electronic manufacturing. MCL's earnings are bolstered by its ability to maintain strong relationships with key clients, efficient production processes, and a strategic supply chain that ensures steady access to raw materials. Additionally, the company's focus on innovation and quality allows it to command competitive pricing, contributing positively to its profitability.

Madhav Copper Ltd. Financial Statement Overview

Summary

Madhav Copper Ltd. shows strong recent revenue growth but has a history of volatility and operational inefficiencies. The balance sheet is stable with manageable leverage, but cash flow irregularities pose liquidity concerns.

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.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	976.46M	1.25B	355.00M	0.00	1.22B	3.83B
Gross Profit	117.16M	124.58M	35.41M	-22.50M	27.29M	169.46M
EBITDA	99.06M	69.63M	35.66M	-24.13M	18.63M	92.19M
Net Income	71.70M	46.88M	12.27M	-44.14M	-24.40M	44.69M
Balance Sheet
Total Assets	0.00	768.22M	640.87M	1.03B	1.15B	1.30B
Cash, Cash Equivalents and Short-Term Investments	6.22M	2.87M	2.71M	2.21M	3.85M	4.14M
Total Debt	0.00	261.86M	131.83M	10.38M	73.38M	16.32M
Total Liabilities	-430.86M	311.13M	230.66M	635.78M	704.46M	836.39M
Stockholders Equity	430.86M	457.09M	410.22M	397.94M	442.09M	466.49M
Cash Flow
Free Cash Flow	-7.89M	8.47M	-21.84M	-5.96M	5.79M	-57.62M
Operating Cash Flow	-5.72M	16.37M	-13.14M	-5.81M	30.99M	20.02M
Investing Cash Flow	-1.88M	-7.90M	-6.61M	5.40M	-14.58M	-65.35M
Financing Cash Flow	-2.45M	-8.12M	20.40M	-1.08M	-13.33M	-25.78M

Madhav Copper Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 58.53
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 58.53 is above the 20-day moving average (MA) of 48.18, above the 50-day MA of 49.41, and above the 200-day MA of 51.65, indicating a bullish trend. The MACD of 0.73 indicates Negative momentum. The RSI at 78.36 is Negative, neither overbought nor oversold. The STOCH value of 64.94 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MANAKALUCO	68 Neutral	1.94B	28.22	4.47%	0.24%	39.57%	46.71%
CUBEXTUB	67 Neutral	1.40B	20.11	8.78%	―	15.71%	64.45%
MCL	59 Neutral	₹1.59B	34.52	―	―	149.86%	36.89%
MANGALAM	58 Neutral	1.14B	-11.69	4.51%	―	-16.39%	-410.09%
SALSTEEL	50 Neutral	2.42B	-14.86	-16.60%	―	4.71%	-3228.92%
SHYAMCENT	49 Neutral	1.51B	-14.22	-5.57%	―	-19.80%	-163.56%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Madhav Copper Ltd. Corporate Events

Madhav Copper Ltd. Updates on GST Search and Compliance

Madhav Copper Limited has disclosed a delay in compliance with SEBI’s Regulation 30 due to the COVID-19 pandemic, with no malafide intent. The company faced a GST search by SGST authorities, resulting in provisional attachment of assets and a temporary GST number cancellation. Although the company’s operations were impacted, there is no financial impact except for a demand of Rs. 137 Crore for wrongful Input Tax Credit availment, which is under appeal.