MMTC Limited (MMTC) AI Stock Analysis

• Market Cap: ₹97.63B
• Dividend Yield: N/A
• Average Volume (3M): 291.52K
• Price to Earnings (P/E): 44.2
• Beta (1Y): 1.95
• Revenue Growth: -17.88%
• EPS Growth: 7.14%
• Country: IN
• Employees: 361
• Sector: Services
• Sector Strength: N/A
• Industry: Conglomerates
• EPS (TTM): 1.14
• Shares Outstanding: 1,500,000,000
• 10 Day Avg. Volume: 343,328
• 30 Day Avg. Volume: 291,519
• PEG Ratio: -1.80
• Price to Book (P/B): 5.80
• Price to Sales (P/S): 3670.88
• P/FCF Ratio: -27.21
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: ₹64.00 ▲(11.28% Upside)

The score is held down primarily by weak financial performance (declining/volatile profitability and negative, inconsistent cash flows) and a high P/E valuation. These risks are partially offset by constructive technicals, with the price above major moving averages and positive MACD momentum.

Positive Factors

Public-sector trading franchise

As a public-sector trading company, MMTC has an established franchise in cross-border commodity flows and long-standing institutional relationships. That status supports durable access to import/export channels, counterparties and regulatory corridors, helping sustain transaction volumes through cycles.

Diversified commodity mix

MMTC’s exposure across bullion, minerals, industrial and agricultural commodities spreads revenue and operational risk. This product diversification, combined with trading and logistics services, can smooth earnings volatility and maintain scale even if individual commodity markets weaken over several months.

Low recent financial leverage

Recent low debt-to-equity provides balance-sheet flexibility to support working-capital intensive trading operations and absorb commodity price swings. Lower leverage reduces near-term insolvency risk and preserves capacity to fund trade flows without urgent refinancing in stressed periods.

Negative Factors

Declining revenue trend

Reported revenue contraction near 18% indicates shrinking scale in core trading activities. Sustained top-line decline weakens bargaining power with suppliers and customers, reduces operating leverage, and impairs the company’s ability to restore margins and generate stable cash flows over the medium term.

Volatile, weak profitability

Erratic margins and recurring negative EBIT point to inconsistent pricing power and structural margin pressures in trading operations. Persistent profitability volatility undermines reinvestment capacity, raises execution risk on contracts, and hampers management’s ability to build sustained earnings resilience.

Poor cash generation

Negative and inconsistent operating and free cash flows indicate weak conversion of reported earnings into liquidity. Over months this reduces ability to fund working capital and service obligations internally, increasing dependence on external financing and elevating vulnerability to tightening credit conditions.

MMTC Limited Business Overview & Revenue Model

Company Description

MMTC Limited operates as a trading company in Asia, Europe, Africa, the Middle East, Latin America, and North America. It exports mineral products, such as chrome ore, chrome concentrate, manganese ore, bentonite, bentonite power, bauxite, feldspar, quartz, sandstone, granite, mica flakes, and other products. The company also imports and exports gold, silver, platinum, palladium, rough diamonds, emeralds, rubies, and other semi-precious stones; and manufactures gold and silver medallions. In addition, it imports and exports non-ferrous metals, such as copper, aluminum, zinc and lead ingots, tin ingots, nickel, briquettes, ferro nickel, etc.; minor metals comprising antimony, silicon, cobalt metal, silicon, magnesium, and mercury; brown and white fused alumina, calcined alumina and bauxite, noble metals, and ferro alloys; and aluminum, zinc, and other alloys. Further, the company trades in agro products, including wheat, rice, maize, soya bean meal, sugar, edible oil, and pulses; and imports and sells fertilizers and raw materials, such as urea, di-ammonium phosphate, mono-ammonium phosphate, powdered mono-ammonium phosphate, muriate of potash, complex fertilizers, sulphur and rock phosphate, and phosphoric acid. Additionally, it trades in coking coal; and engineering products, as well as operates a windmill project located at Gajendergarh in Karnataka. MMTC Limited was incorporated in 1963 and is based in New Delhi, India.

How the Company Makes Money

MMTC generates revenue through multiple streams, primarily from the import and export of commodities. The company acts as a trading intermediary, earning margins on the sale of metals, minerals, and agricultural products. Additionally, MMTC profits from its retail sales of gold and silver, which are significant revenue drivers. The company also earns income through its joint ventures and partnerships, including collaborations with other public sector undertakings and private entities. Furthermore, MMTC benefits from government contracts and initiatives that promote export, which can provide additional financial incentives and revenue opportunities.

MMTC Limited Financial Statement Overview

Summary

Underlying fundamentals are weak: the income statement shows declining revenues, volatile margins and periods of negative EBIT; cash flows are concerning with negative operating and free cash flow in several periods and erratic cash conversion. The balance sheet is mixed, with low recent leverage but historical instability.

Income Statement

The income statement reveals significant volatility in revenue and profitability. Recent periods show considerable revenue declines with erratic profit margins. Gross and net profit margins are inconsistent, with negative EBIT in several periods indicating operational challenges. The company's revenue growth rate is negative, highlighting a downward trend in sales performance.

Balance Sheet

The balance sheet indicates a mixed financial position with some strengths and weaknesses. The company has a low debt-to-equity ratio in recent periods, suggesting lower leverage risks. However, previous years showed high debt levels, which could have posed financial risks. The equity ratio is reasonable but fluctuating, reflecting balance sheet instability over time.

Cash Flow

Cash flow analysis presents concerns, particularly with negative free cash flow and operating cash flow in several periods, indicating liquidity issues. The operating cash flow to net income ratio is erratic, raising questions about cash generation from operations. Free cash flow growth is negative, suggesting challenges in maintaining positive cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	34.00M	26.90M	53.40M	35.28B	112.42B	299.73B
Gross Profit	30.40M	-1.14B	-1.34B	1.20B	5.74B	13.81B
EBITDA	1.30B	1.24B	817.80M	14.03B	3.19B	-9.05B
Net Income	982.00M	866.30M	1.92B	15.62B	-2.58B	-7.89B
Balance Sheet
Total Assets	0.00	34.78B	36.87B	36.78B	47.83B	54.74B
Cash, Cash Equivalents and Short-Term Investments	13.39B	14.31B	12.68B	12.87B	1.53B	1.65B
Total Debt	0.00	24.40M	1.59B	2.03B	26.26B	24.22B
Total Liabilities	-17.02B	17.76B	20.61B	22.66B	49.31B	53.74B
Stockholders Equity	17.02B	17.02B	16.26B	14.12B	-1.48B	997.40M
Cash Flow
Free Cash Flow	0.00	-3.63B	-3.53B	7.54B	-17.20M	17.03B
Operating Cash Flow	0.00	-3.63B	-3.53B	7.54B	-3.30M	17.04B
Investing Cash Flow	0.00	2.78B	1.98B	19.59B	29.00M	105.90M
Financing Cash Flow	0.00	-53.90M	-434.20M	-25.47B	-51.30M	-16.34B

MMTC Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 57.51
• 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:MMTC, the sentiment is Positive. The current price of 57.51 is below the 20-day moving average (MA) of 66.48, below the 50-day MA of 62.14, and below the 200-day MA of 65.04, indicating a neutral trend. The MACD of 0.84 indicates Positive momentum. The RSI at 49.71 is Neutral, neither overbought nor oversold. The STOCH value of 52.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MMTC.

MMTC Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IONEXCHANG	60 Neutral	₹52.02B	23.12	―	0.40%	11.56%	-2.78%
SBCL	60 Neutral	₹24.44B	28.11	―	0.67%	4.56%	8.11%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
ITDC	53 Neutral	₹45.35B	62.78	―	0.50%	6.56%	4.21%
MMTC	50 Neutral	₹97.63B	44.19	―	―	-17.88%	7.14%
STCINDIA	48 Neutral	₹7.25B	101.96	―	―	―	―
MTNL	40 Underperform	₹21.41B	-0.60	―	―	-21.58%	-8.54%

MMTC Limited Corporate Events

MMTC Limited Reports on Physical Share Transfer Requests

MMTC Limited has announced the receipt of requests for the re-lodgement of transfer requests for physical shares, in compliance with a SEBI circular. This development, processed by MCS Share Transfer Agent Limited, indicates that no requests were received, processed, approved, or rejected during the specified period, highlighting a lack of activity in this area.