MPS Ltd
MPSLTDMPS Ltd's earnings have outrun its stock. EPS grew +16.3% in a year against a −14.2% price move.
The sharpest disagreement: annual EPS moved +16.3% against a −14.2% price move — the market has not yet caught up with the delivery.
The price is in a downtrend (45 weeks in) while the P/E sits at the 89th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +42.9% year on year, and 94% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
MPS Ltd trades at ₹2,097, in a downtrend and 45 weeks into that stage. That is +10.7% against its own 200-day average. It sits at 78% of a 52-week range of ₹1,393 to ₹2,296. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks.
Today the stock is in a downtrend — week 45 of stage 4, confirmed. At ₹2,097 it trades +10.7% versus its 200-day average and sits at 78% of its 52-week range (₹1,393–₹2,296).
Against the market, two honest reads. Cumulative: over the last 10.3 years the stock moved +220% while the NIFTY 500 moved +274% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 5 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 89th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
MPS Ltd trades at 25.9× P/E, at the pricey end of its own range (89th percentile). Its long-run median P/E is 16.5×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 25.9× is at the pricey end of its own range (89th percentile), against a long-run median of 16.5× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +16.3% against a −14.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +27.0%/yr price move, ~+27.4%/yr came from earnings growth and ~−0.4 pp from the multiple (roughly flat); over 10y, of the +10.9%/yr price move, ~+10.5%/yr came from earnings growth and ~+0.4 pp from the multiple (roughly flat). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
MPS Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 41.0% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +5.6% | +15.3% | +12.7% | +11.6% |
| Profit | +16.1% | +16.6% | +24.0% | +9.3% |
| EPS | +16.3% | +16.6% | +25.6% | +10.2% |
| Share price | −14.2% | +22.0% | +27.0% | +10.9% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
60.7/100 — rank 4 of 13 in E-Commerce - Platform - Utility · 94% evidence confidence
MPS Ltd scores 60.7 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 18.9 + 20.6 + 13.6 + 7.6 = 60.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
MPS Ltd reported ₹224 Cr of revenue in the Jun 26 quarter, +20.4% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 11.6% a year. The last full year, FY26, came in at ₹768 Cr. The last four reported quarters add to ₹805 Cr.
MPS Ltd reported ₹224 Cr of revenue in the Jun 26 quarter, +20.4% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 11.6% a year. The last full year, FY26, came in at ₹768 Cr. The last four reported quarters add to ₹805 Cr.
FY26 revenue came in at ₹768 Cr (+5.6% on the year), capping 10 years at 11.6% compound. The latest quarter (Jun 26) printed ₹224 Cr, +20.4% year on year — the 2nd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +9.9% growth against the decade's 11.6% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +10.0% over the last 4 quarters against +16.4%/yr over the last 8 — rolling over; TTM profit +19.0% vs +27.9%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 34.0% this quarter (+7.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
MPS Ltd's operating margin is 34.0% in the Jun 26 quarter, +7.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 24.0% to 36.0%. The current quarter sits inside that band.
MPS Ltd's operating margin is 34.0% in the Jun 26 quarter, +7.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 24.0% to 36.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 34.0%, +7.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 24.0%–36.0%.
Why the margin moved: operating margin went +7.3 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins held — did that reach the bottom line? Next: profit +42.9% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
MPS Ltd earned ₹50.0 Cr of net profit in the Jun 26 quarter, +42.9% year on year. Full-year FY26 profit was ₹173 Cr. The 10-year compound rate is 9.3%. That is 22.3% of the quarter's revenue. The same quarter a year earlier earned ₹35.0 Cr.
MPS Ltd earned ₹50.0 Cr of net profit in the Jun 26 quarter, +42.9% year on year. Full-year FY26 profit was ₹173 Cr. The 10-year compound rate is 9.3%. That is 22.3% of the quarter's revenue. The same quarter a year earlier earned ₹35.0 Cr.
Jun 26 profit was ₹50.0 Cr, +42.9% year on year. On the full year, FY26 printed ₹173 Cr (+16.1%), and the 10-year compound rate is 9.3%.
Why profit moved: revenue contributed +20.4% and the margin +7.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +22.0% vs revenue +9.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 94% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 94% of MPS Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹197 Cr of operating cash against ₹173 Cr of profit. After ₹222 Cr of capital spending, ₹−25.0 Cr was left as free cash.
FY26: operating cash of ₹197 Cr against reported profit of ₹173 Cr, leaving free cash of ₹−25.0 Cr after ₹222 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 94% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 94%: the cash cycle tightened 15 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 5.9× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹442 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
MPS Ltd's cash conversion cycle runs 63 days in FY26, down from 78 days in FY21. Capital spending ran ₹442 Cr over the last 3 years. At FY26 sales of ₹768 Cr each day of that cycle holds about ₹2.1 Cr, so roughly ₹133 Cr sits inside the business at any moment.
FY26: debtors at 63 days (an asset-light business — no inventory to speak of) — for a full cycle of 63 days, tighter than FY21's 78.
In money terms: at FY26 sales of ₹768 Cr, each day of the cycle holds about ₹2.1 Cr — so the 63-day loop keeps roughly ₹133 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹442 Cr over the last 3 fiscal years against ₹75.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 39% and the ROIC − WACC spread is +20.7 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
MPS Ltd earns a ROCE of 39% in FY26. That is up from a trough of 17% in FY20. Return on invested capital clears the cost of that capital by +20.7 percentage points, so growth here adds value rather than only size. The wiring behind it is 22.5% net margin on 0.82× asset turns.
FY26 ROCE is 39%, recovered from a FY20 trough of 17% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 22.5% net margin × 0.82× asset turns × 1.58× balance-sheet leverage ≈ 29.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 32.7% − 12.0% = a +20.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.10.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
MPS Ltd carries total debt of ₹61.0 Cr against shareholder equity of ₹596 Cr as of Jun 26, a debt-to-equity of 0.10 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.10 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹61.0 Cr against shareholder equity of ₹596 Cr — a debt-to-equity of 0.10. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.10 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 2.1 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions cut 2.1 points of MPS Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 1.4% of the company. Domestic institutions moved +1.8 points over the same window, to 2.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −2.1 points over 8 quarters to 1.4%; Domestic institutions: +1.8 points over 8 quarters to 2.1%; Promoters: +0.0 points over 8 quarters to 68.3%.
Why the register moved: rotation — foreign institutions −2.1 points against domestic institutions +1.8 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
MPS Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| MPS Ltd this page | 25.9× | ₹4,738 Cr | Mixed | |||
| One 97 Communications Ltd | 101.0× | ₹82,213 Cr | No read | |||
| Info Edge (India) Ltd | 53.1× | ₹75,573 Cr | Mixed | |||
| Urban Company Ltd | — | ₹20,011 Cr | No read | |||
| Pine Labs Ltd | 146.0× | ₹16,808 Cr | No read | |||
| TBO Tek Ltd | 64.0× | ₹15,517 Cr | Mixed | |||
| Indiamart Intermesh Ltd | 21.4× | ₹10,585 Cr | Topping out | |||
| Just Dial Ltd | 44.4× | ₹6,200 Cr | No read | |||
| MSTC Ltd | 19.6× | ₹4,275 Cr | Mixed | |||
| One Mobikwik Systems Ltd | — | ₹1,583 Cr | No read | |||
| Creative Newtech Ltd | 21.1× | ₹1,482 Cr | Mixed | |||
| Macfos Ltd | 47.3× | ₹1,214 Cr | No read | |||
| RNFI Services Ltd | 23.5× | ₹681 Cr | No read |
Frequently asked questions
What is MPS Ltd's share price today?
MPS Ltd trades at ₹2,097, −14.2% over the past year. The company is valued at ₹4,738 Cr. The stock sits at 78% of its 52-week range of ₹1,393–₹2,296, +10.7% versus its 200-day average. On the tape, the price is in a downtrend, 45 weeks in. — as of 24 July 2026.
What were MPS Ltd's latest quarterly results?
MPS Ltd reported revenue of ₹224 Cr and net profit of ₹50.0 Cr for the Jun 26 quarter. Revenue rose 20.4% and profit rose 42.9% year on year. Earnings per share were ₹29.46. The operating margin was 34.0%, 7.0 pp higher than a year earlier. — as of 24 July 2026.
What is MPS Ltd's revenue?
MPS Ltd reported revenue of ₹224 Cr in the Jun 26 quarter, +20.4% year on year. For the full FY26 fiscal year, revenue was ₹768 Cr (+5.6%). Over the last 10 years revenue compounded at 11.6% a year. — as of 24 July 2026.
What is MPS Ltd's profit?
MPS Ltd earned ₹50.0 Cr of net profit in the Jun 26 quarter, +42.9% year on year. Full-year FY26 profit was ₹173 Cr. The operating margin ran 34.0% in the latest quarter. — as of 24 July 2026.
What is MPS Ltd's market cap?
MPS Ltd's market capitalisation is ₹4,738 Cr at a share price of ₹2,097. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is MPS Ltd's P/E ratio?
MPS Ltd trades at a P/E of 25.9×, at the 89th percentile of its own 10-year range, against a long-run median of 16.5×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does MPS Ltd pay a dividend?
Not in its latest year — MPS Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 10 of its last 13 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is MPS Ltd overvalued?
On its own history, MPS Ltd looks expensive against its own history: its P/E of 25.9× sits at the 89th percentile of its 10-year range (long-run median 16.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is MPS Ltd growing?
Yes — MPS Ltd is growing: latest-quarter revenue +20.4% year on year, profit +42.9%, and the margin +7.0 pp at 34.0%. The 10-year compound rates are 11.6% (revenue) and 9.3% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is MPS Ltd performing?
MPS Ltd is in a downtrend, 45 weeks in. Its latest quarter's revenue rose 20.4% and profit rose 42.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 5 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is MPS Ltd in?
Mixed — no clean majority across the growth curves, ROCE slipping at 41.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +10.0% latest, profit growth +19.0% latest, eps growth +19.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is MPS Ltd in an uptrend?
No — the price is in a downtrend (week 45 of stage 4), trading +10.7% versus its 200-day average and at 78% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is MPS Ltd beating the market?
On recent form, yes — MPS Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 5 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.3 years the stock moved +220% against the NIFTY 500's +274% — behind the index over the full window. — as of 24 July 2026.
Will MPS Ltd's share price go up?
This page publishes no price forecast for MPS Ltd. What it measures instead: the share price is ₹2,097, the price is in a downtrend 45 weeks in. Its P/E of 25.9× sits at the 89th percentile of its own 10-year range. Direction is not something this site claims to know. — as of 24 July 2026.
Who owns MPS Ltd?
Promoters hold 68.3% of MPS Ltd, foreign institutions 1.4%, domestic institutions 2.1% and the public 27.3% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 2.1 points over 8 quarters. — as of 24 July 2026.
Does MPS Ltd have too much debt?
No — MPS Ltd's debt-to-equity is 0.10, and operating profit covers the interest bill north of 100×. FY26 borrowings were ₹61.0 Cr against equity of ₹596 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is MPS Ltd's capex?
MPS Ltd spent ₹442 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹222 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is MPS Ltd's cash flow?
MPS Ltd generated ₹197 Cr of operating cash flow in FY26 and ₹−25.0 Cr of free cash flow after ₹222 Cr of capital spending. Reported profit that year was ₹173 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is MPS Ltd's profit real cash?
Yes — over the last 3 fiscal years, 94% of MPS Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹197 Cr against reported profit of ₹173 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is MPS Ltd in its business cycle?
MPS Ltd's FY26 operating margin was 31.0%, against a 13-year band of 24.0%–36.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 34.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the MPS Ltd story?
The sharpest disagreement: annual EPS moved +16.3% against a −14.2% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is MPS Ltd a stock worth studying right now?
This is not investment advice. The machine read: MPS Ltd's earnings have outrun its stock. EPS grew +16.3% in a year against a −14.2% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.