Overview

Detailed Summary

MMP Industries Limited specializes in manufacturing and trading aluminum powders, pastes, conductors, and foils. It has a diverse application across industrial sectors including construction, explosives, and automotive.
The company demonstrated resilient performance with strong growth in Q2FY26 despite challenges such as a fire impacting its Umred Powder Division. Insurance largely covered the losses, showing operational robustness.
Significant global partnerships enhance MMP's export capabilities, particularly in aluminum powders, benefiting from stronger European ties and expected rising global demand in 2027.
MMP is diversifying into new product lines such as composite insulators and low-voltage power cables, with comprehensive capacity expansions planned. This positions the company well in the growing power distribution sector.
The company has robust sustainability commitments, notably targeting carbon neutrality by 2030, backed by renewable energy investments including a significant solar power expansion.

Sector: Non Ferrous Metals
Industry: Aluminium - Sheets / Coils / Wires / Others
Market Cap: 603 Cr
Volatility: Low Risk
P/E Ratio: 25.2
Industry P/E: 27.0
PEG Ratio: 2.3
P/B Ratio: 1.9
52W High: 318.00
52W Low: 218.00

Sales CAGR

1Y: 19.59%
3Y: 15.57%
5Y: 23.40%
10Y: 14.74%

Profit CAGR

1Y: 22.88%
3Y: 10.99%
5Y: 11.56%
10Y: 16.95%

ROE

TTM: 12.66%
3Y: 9.89%
5Y: 9.84%
10Y: 11.49%

ROCE

TTM: 11.72%
3Y: 14.33%
5Y: 14.01%
10Y: 16.79%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MMP	237.27	603 Cr	25.21	1.88	0.63	12.66	11.72	4.25
BAHETI	572.90	594 Cr	32.98	10.05	0.00	29.62	16.15	6.15
EUROBOND	159.70	391 Cr	15.87	2.69	0.00	15.84	16.26	7.12
PGFOILQ	222.10	262 Cr	-78.20	0.77	0.00	2.06	4.19	-0.65
MANAKALUCO	26.41	174 Cr	27.51	1.26	0.26	4.58	9.12	1.18
JAINIK	117.95	169 Cr	11.81	2.23	0.00	14.16	17.03	9.89

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	126	141	160	156	145	168	223	183	188	203
Expenses	119	128	146	138	134	152	205	171	175	186
Operating Profit	7.38	13	14	17	11	17	18	13	13	18
OPM %	5.85	9.34	8.82	11.21	7.82	9.88	8.26	6.97	6.85	8.70
Other Income	1.89	2.22	2.79	1.57	1.83	2.42	1.37	-15	2.19	3.20
Interest	1.59	2.03	2.03	2.11	2.54	2.63	2.91	2.60	3.38	3.60
Depreciation	1.89	2.09	2.15	2.21	2.40	2.55	2.55	2.76	2.80	2.91
Profit Before Tax	5.79	11	13	15	8.21	14	14	-7.77	8.87	14
Tax %	19.17	20.69	21.31	22.87	28.99	21.83	24.21	30.37	20.97	20.58
Net Profit	4.67	8.93	10	11	5.83	11	11	-5.41	7.01	11
EPS in Rs	1.84	3.52	3.94	4.46	2.29	4.27	4.28	-2.13	2.76	4.50

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	227	249	261	242	231	448	538	579	—	720
Expenses	182	213	231	214	205	406	503	532	0.00	660
Operating Profit	44	36	29	28	26	42	35	46	0.00	59
OPM %	19.48	14.46	11.19	11.43	11.27	9.36	6.55	7.99	—	8.22
Other Income	5.16	0.70	6.02	2.21	2.71	5.07	3.41	8.56	0.00	-9.55
Interest	3.90	3.85	2.78	2.31	1.70	3.63	4.46	6.84	—	11
Depreciation	1.82	2.02	1.94	3.11	4.54	6.32	6.85	7.96	—	10
Profit Before Tax	20	24	30	24	22	37	27	40	—	29
Tax %	28.34	36.93	25.81	23.97	22.39	21.76	22.06	20.84	—	22.76
Net Profit	14	15	23	19	17	29	21	32	—	22
EPS in Rs	—	—	—	—	6.86	11.41	8.40	12.46	15.30	9.41
Dividend Payout %	0.00	0.00	0.00	0.00	14.56	8.76	11.92	12.04	—	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	8.29	8.29	12	17	25	25	25	25	25	25
Reserves	29	46	88	157	165	184	213	232	264	298
Borrowings	36	39	36	21	17	30	52	58	93	156
Other Liabilities	21	21	25	27	27	33	45	43	53	69
Total Liabilities	95	114	161	221	234	272	335	358	435	549
Fixed Assets	37	37	37	44	90	112	147	160	183	223
CWIP	0.87	0.54	0.06	25	17	29	3.80	15	27	28
Investments	6.52	16	20	21	19	22	29	32	42	48
Other Assets	51	61	104	131	107	109	155	151	183	250
Total Assets	95	114	161	221	234	272	335	358	435	549

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14	14	14	10	18	36	19	33	43	57
Cash from Investing Activity	-3.15	-11	-5.80	-76	-6.98	-27	-19	-24	-42	-51
Cash from Financing Activity	-9.78	-1.46	22	43	-2.98	-1.43	0.36	-7.19	-2.67	4.76
Net Cash Flow	1.28	1.70	31	-23	8.12	7.45	-0.17	1.81	-1.66	11

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%
FIIs	7.14%	7.19%	6.05%	5.96%	5.07%	5.07%	0.00%	0.03%	0.02%	0.07%	0.00%	0.01%
DIIs	0.91%	0.67%	0.47%	0.47%	0.47%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	17.47%	17.65%	19.00%	19.08%	19.97%	19.97%	25.51%	25.49%	25.49%	25.45%	25.52%	25.51%
Total Shareholders	5,865	5,198	4,483	5,004	7,874	7,702	9,991	9,605	9,374	10,326	10,731	10,940

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Investor Presentation

Q2 FY26

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

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