Overview

Detailed Summary

Modison Limited is a leading Indian manufacturer specializing in electrical contacts across low, medium, high, and extra-high voltage segments as well as silver flatware.
The company has a rich history, initially founded as Modison Metals Limited in 1965, focusing on tool steels and silver refining.
Over the years, Modison has expanded its manufacturing capabilities significantly, including a technical collaboration with Germany's DODUCO to improve its product offerings.
The company operates two major plants in Western India, at Vapi and Silvassa, enhancing its production and market reach.
Modison is also involved in a joint venture to manufacture tungsten metal products, signalling its intent to diversify and grow in new material sectors.

Sector: Electrical Equipment
Industry: Other Electrical Equipment
Market Cap: 954 Cr
Volatility: High Risk
P/E Ratio: 13.2
Industry P/E: 52.6
PEG Ratio: 0.6
P/B Ratio: 3.5
52W High: 365.00
52W Low: 114.45

Sales CAGR

1Y: 21.18%
3Y: 13.03%
5Y: 17.46%
10Y: 11.53%

Profit CAGR

1Y: 15.54%
3Y: 19.07%
5Y: 10.31%
10Y: 9.52%

ROE

TTM: 26.41%
3Y: 9.42%
5Y: 9.95%
10Y: 10.62%

ROCE

TTM: 23.52%
3Y: 14.10%
5Y: 14.51%
10Y: 15.77%

Technicals

‌

Forecasts

Peers

Industrials Capital Goods Electrical Equipment Other Electrical Equipment

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SALZERELEC		641.60	1,132 Cr	21.37	1.91	0.39	8.93	10.75	4.01
MODISONLTD		299.45	972 Cr	13.40	3.54	1.00	26.41	23.52	14.43
PRIZOR		861.25	930 Cr	78.87	20.27	0.00	24.17	25.66	13.69
HUIL		1247.20	900 Cr	-27.97	3.11	0.00	-13.16	-7.03	-6.76
MEIL		313.90	867 Cr	20.09	1.47	0.00	7.31	10.97	6.11
PROSTARM		143.40	843 Cr	25.59	2.94	0.00	11.51	12.89	6.13
PERMAGNET		865.00	746 Cr	50.48	4.74	0.25	9.38	10.95	5.24
Median: 7 Co.	—	641.60	900 Cr	21.37	3.11	0.00	9.38	10.97	6.11

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	108	114	116	122	121	130	134	145	144	287
Expenses	99	104	108	112	110	115	126	127	125	216
Operating Profit	8.52	9.44	8.11	10	11	15	8.57	18	19	71
OPM %	7.91	8.31	6.96	8.29	9.22	11.82	6.39	12.71	13.18	24.84
Other Income	-0.42	1.80	-3.52	4.20	0.12	1.77	2.21	1.26	13	-18
Interest	0.98	0.93	1.21	1.60	1.32	1.69	2.07	1.63	2.10	2.91
Depreciation	1.57	1.75	1.71	1.78	2.11	2.41	2.28	2.40	2.43	2.55
Profit Before Tax	5.56	8.56	1.68	11	7.86	13	6.42	16	27	48
Tax %	26.62	28.15	31.55	25.34	26.08	26.92	25.08	25.64	25.84	24.69
Net Profit	4.08	6.16	1.15	8.19	5.81	9.53	4.81	12	20	36
EPS in Rs	1.26	1.90	0.35	2.53	1.79	2.94	1.48	3.59	6.18	11.09

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	184	208	205	219	292	340	335	405	490	508
Expenses	142	160	174	192	252	309	310	373	445	463
Operating Profit	41	48	31	27	40	30	24	32	45	45
OPM %	22.47	23.21	15.16	12.28	13.69	8.93	7.30	7.90	9.22	8.91
Other Income	1.03	0.12	4.56	0.10	-2.05	-1.86	-1.05	6.29	2.19	8.30
Interest	3.35	2.69	1.85	1.98	2.05	2.05	1.71	2.83	5.83	6.68
Depreciation	6.37	6.40	6.28	6.18	6.08	6.61	6.33	6.28	8.01	8.58
Profit Before Tax	17	22	24	19	30	20	15	29	34	38
Tax %	36.68	35.41	30.23	19.85	24.73	26.06	27.13	26.69	26.42	25.99
Net Profit	11	14	16	15	22	15	11	21	25	28
EPS in Rs	—	—	—	4.66	6.91	4.51	3.44	6.59	7.61	22.34
Dividend Payout %	29.85	22.73	29.70	21.46	21.71	22.17	29.07	37.99	45.99	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.25	3.25	3.25	3.25	3.25	3.25	3.25	3.25	3.25	3.25
Reserves	94	101	111	124	144	161	173	184	200	213
Borrowings	26	21	18	13	25	12	17	5.00	32	73
Other Liabilities	24	20	19	22	18	26	21	29	36	30
Total Liabilities	148	145	152	162	191	203	214	222	271	319
Fixed Assets	57	61	58	58	56	60	67	65	76	89
CWIP	1.60	1.22	0.85	0.83	2.89	3.08	3.03	10	10	3.56
Investments	0.00	0.00	2.27	2.34	3.62	3.56	4.76	4.86	4.50	2.80
Other Assets	89	83	91	102	128	135	140	141	181	224
Total Assets	148	145	152	162	191	203	214	222	271	319

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	13	26	12	19	19	24	14	22	-3.89	-16
Cash from Investing Activity	-6.17	-11	-3.43	-8.01	-15	-3.85	-11	-13	-15	-8.62
Cash from Financing Activity	-6.25	-15	-8.93	-10	-3.09	-21	0.66	-14	19	24
Net Cash Flow	0.29	-0.04	-0.08	0.49	1.10	-0.98	4.11	-3.84	0.09	-0.43

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.11%	52.16%
FIIs	0.00%	0.00%	0.00%	0.41%	0.48%	0.53%	0.48%	0.56%	0.48%	0.48%	0.48%	0.48%
DIIs	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	47.89%	47.64%	47.89%	47.48%	47.41%	47.35%	47.41%	47.33%	47.40%	47.41%	47.41%	47.35%
Total Shareholders	14,996	14,639	18,205	19,040	18,380	21,670	21,836	21,267	21,115	21,553	21,549	21,079

Market Transactions

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Projection

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

Investor Presentation

Q1 FY24

Available on Pro Plan