Mukand Limited (MUKANDLTD) AI Stock Analysis

• Market Cap: ₹19.30B
• Dividend Yield: 1.5%
• Average Volume (3M): 49.73K
• Price to Earnings (P/E): 23.9
• Beta (1Y): 1.70
• Revenue Growth: -5.74%
• EPS Growth: -16.13%
• Country: IN
• Employees: 1,466
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Steel
• EPS (TTM): 2.01
• Shares Outstanding: 144,495,560
• 10 Day Avg. Volume: 55,544
• 30 Day Avg. Volume: 49,734
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹139.00
• Price Target Upside: 4.08% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 54 Neutral
• Price Target: ₹139.00 ▲(4.08% Upside)

Mukand Limited's overall stock score is driven by a mixed financial performance, with significant challenges in revenue volatility and high leverage. Technical analysis suggests a neutral trend with potential for upward momentum. The valuation is reasonable but not particularly attractive. The absence of earnings call and corporate events data limits further insights.

Mukand Limited Business Overview & Revenue Model

Company Description

Mukand Limited is a leading Indian company operating primarily in the steel manufacturing and engineering industries. Founded in 1937, the company is headquartered in Mumbai, India, and is a part of the Bajaj Group. Mukand Limited specializes in producing high-quality alloy and stainless steel products, which are used in various applications across industries such as automotive, engineering, and construction. Additionally, the company is involved in the design and manufacture of industrial machinery and equipment.

How the Company Makes Money

Mukand Limited generates revenue through the production and sale of steel products, with a focus on specialty alloy and stainless steel. The company's key revenue streams include the sale of these steel products to a wide range of industries, including automotive, construction, and engineering. Mukand Limited also earns from its engineering division, which designs and manufactures industrial machinery and heavy equipment. The company's earnings are bolstered by its strategic partnerships and collaborations within the steel and engineering sectors, enabling it to enhance its product offerings and market reach. Additionally, Mukand Limited may engage in export operations, which contributes to its revenue through international sales.

Mukand Limited Financial Statement Overview

Summary

Mukand Limited shows a mixed financial performance with revenue volatility and high leverage posing significant challenges. Profitability metrics have improved but remain below industry standards. The balance sheet shows gradual improvement but is burdened by high debt levels. Cash flow management has improved, but liquidity risks remain due to capital expenditures and financing activities.

Income Statement

Mukand Limited's revenue has seen fluctuations in recent years, with a noticeable decline in 2025 compared to 2024. The gross profit margin improved significantly in 2025, indicating better cost management or pricing strategy. However, the net profit margin remains low, suggesting persistent profitability challenges. The company's EBIT margin improved in 2025, but EBITDA margin was notably lower than expected, indicating increased depreciation and amortization costs.

Balance Sheet

The company's debt-to-equity ratio has been high, indicating significant leverage and potential financial risk. However, the return on equity has shown improvement, reflecting better utilization of equity resources. The equity ratio has improved slightly, suggesting gradual strengthening of the balance sheet. Overall, financial stability remains a concern due to high debt levels.

Cash Flow

Mukand Limited's operating cash flow has seen improvement in 2025, which is a positive sign for liquidity. The free cash flow growth rate was strong, indicating better cash management. However, the operating cash flow to net income ratio is low, pointing to potential issues in converting revenue into cash. Despite improvements, cash flow risks persist due to high capital expenditures and financing needs.

Breakdown	Mar 2025	Mar 2024	Mar 2022	Mar 2023	Mar 2021
Income Statement
Total Revenue	48.90B	51.55B	45.97B	55.68B	26.94B
Gross Profit	12.13B	2.18B	5.03B	9.21B	418.90M
EBITDA	2.84B	3.08B	3.48B	4.08B	3.00B
Net Income	758.90M	1.03B	1.76B	1.72B	-2.04B
Balance Sheet
Total Assets	35.42B	30.46B	34.68B	31.78B	32.37B
Cash, Cash Equivalents and Short-Term Investments	269.00M	510.10M	420.10M	2.78B	4.52B
Total Debt	15.59B	14.89B	20.26B	15.05B	20.72B
Total Liabilities	25.92B	21.25B	28.44B	23.24B	27.75B
Stockholders Equity	9.50B	9.21B	6.24B	8.54B	4.63B
Cash Flow
Free Cash Flow	540.30M	123.20M	-2.99B	449.50M	-3.35B
Operating Cash Flow	1.80B	649.40M	-1.04B	1.06B	-3.28B
Investing Cash Flow	-1.24B	990.40M	3.28B	6.19B	13.45B
Financing Cash Flow	-857.60M	-1.52B	-2.13B	-7.28B	-9.97B

Mukand Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 133.55
• 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:MUKANDLTD, the sentiment is Positive. The current price of 133.55 is below the 20-day moving average (MA) of 137.47, above the 50-day MA of 132.03, and above the 200-day MA of 119.40, indicating a neutral trend. The MACD of 0.08 indicates Positive momentum. The RSI at 51.60 is Neutral, neither overbought nor oversold. The STOCH value of 41.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MUKANDLTD.

Mukand Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VSSL	74 Outperform	₹24.44B	23.77		0.79%	6.99%	-12.54%
MSPL	61 Neutral	₹17.53B	58.19		―	-4.39%	-160.87%
UDAICEMENT	60 Neutral	₹19.63B	130.83		―	26.55%	-77.02%
MUKANDLTD	54 Neutral	₹19.30B	23.95		1.50%	-5.74%	-16.13%
TNPL	52 Neutral	₹10.52B	310.83		2.51%	-0.66%	-125.21%
SANGHIIND	45 Neutral	₹17.01B	―		―	12.93%	-39.27%
Sector *	44 Neutral	AU$1.54B	-7.28	-26.52%	4.40%	-3.13%	-36.41%

Mukand Limited Corporate Events

Mukand Limited Clarifies Surge in Trading Volume

Mukand Limited has observed a significant increase in the trading volume of its securities across exchanges recently. The company clarified that this surge is purely due to market conditions and not influenced by any undisclosed material information or events. The management emphasized that they are not connected to the increase in volume, which is driven by external market factors.