Macfos share price today

Macfos Ltd's share price was ₹1,061.35 at the close on 4 November 2026. It has been rising for 44 weeks. That is 5.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹712 and ₹1,300, and at that close it sat 59% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Macfos Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 6 weeks running.

Over the last 3.7 years the share price moved +640% while the NIFTY 500 moved +47%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 28 September 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: revenue up on a year earlier for 4 quarters in a row and profit up on a year earlier for 4 quarters in a row.

1. Revenue up on a year earlier for 4 quarters in a row

   In the September 2026 quarter revenue was ₹99 crore, +44.2% on a year earlier.

2. Profit up on a year earlier for 4 quarters in a row

   In the September 2026 quarter profit was ₹7 crore, +45.3% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), Macfos reported revenue of ₹98.7 crore, up 44.2% from ₹68.5 crore a year earlier, and a profit of ₹7.35 crore, up 45.3% from ₹5.06 crore.

Macfos results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 30 April 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Macfos closed at ₹1,061.35 on 4 November 2026, up 49.0% from ₹712.23 a year earlier (7 November 2025) and up 259.5% over three years. Its highest weekly close since March 2023 was ₹1,332.82 on 20 December 2024.

Macfos share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

200 weekly closes from 3 March 2023 to 4 November 2026.

4 Nov 2026: Macfos closed at ₹1,061.35, down 6.7% on the week and up 1.1% on the month. Results for July to September 2026: Revenue up 44.2% and profit up 45.3% on a year earlier.

Earlier

• 30 Apr 2026: Macfos held its results call for January to March 2026. Management guided: Indian TAM expected approximately ₹10,000 crore by 2030; acknowledged difficulty calculating TAM for new tech segments; many 'ifs and buts' per CEO.

No. Macfos Ltd paid out 0% of its profit as dividends in each of its last 3 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate (as of 4 November 2026).

On the call for January to March 2026, held on 30 April 2026, Macfos' management guided: Indian TAM expected approximately ₹10,000 crore by 2030; acknowledged difficulty calculating TAM for new tech segments; many 'ifs and buts' per CEO.

“We have converted most of our debt into inventory. We sell that inventory to generate revenue. It is a low-risk debt if the business model is understood correctly.”Atul Dumbre, Chairman and Managing Director, on the call for January to March 2026

What management guided

• Electronics market hot for at least next 2-3 years; CEO sees dependency on electronics only increasing.
• Robu 2.0 decision timeline: Within 2 years will determine if in or out of defense business.
• Robu 2.0 revenue share: No specific goals given; 5-10 year goal but not overloading small child with adult expectations - REFUSED to provide revenue split or goals due to strategic stage.
• Gross margin goals: 10.0% higher on Robu 2.0 products versus regular business.0 mix growth.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 30 April 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

What is changing at Macfos, from the latest results and calls: operating leverage inflection, value-added product mix shift (robu 2.0, smartnix + drones) and tam expansion (india electronics market growth + customer maturation).

• Operating Leverage Inflection. Every ₹1 of incremental revenue dropping ~1.55x to operating profit. FY26 operating profit grew 103% on 64-67% revenue growth, fixed-cost absorption accelerating at scale. ⚠ estimate
• Value-Added Product Mix Shift (Robu 2.0, SmartNix + Drones). ~300 SmartNix modules + 5-10 drone products aiming for 10% higher gross margin than distribution, at 10% revenue mix, adds 1pp group margin. ⚠ estimate
• TAM Expansion (India Electronics Market Growth + Customer Maturation). Indian electronics TAM expected ₹10,000 Cr by 2030; average order value lifted from ₹6,000 Q3 to ₹7,300 Q4, customer maturation and larger basket sizes structurally widening addressable revenue. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

Four instances of management saying X in Oct 2025 and directly contradicting X in Apr 2026, growth guidance softening, main board flip, Robu 2.0 drone-only vs SmartNix reality, inventory rotation confidence vs rising dead stock.

The main risks

• Management communication integrity, four documented cross-call contradictions: Four instances of management saying X in Oct 2025 and directly contradicting X in Apr 2026, growth guidance softening, main board flip, Robu 2.0 drone-only vs SmartNix reality, inventory rotation confidence vs rising dead stock. ✓ fact
• Slow-moving inventory rise + write-off risk: Slow-moving inventory rose from 2.64% to 6.21%; return/replacement costs nearly doubled to ₹109.89 lakhs in FY26, at 122 inventory days with 1.5 lakh+ SKUs, write-offs materialize from the components category. ✓ fact
• Memory chip shortage and import cost pressure: Memory chip shortage impacting development boards and drone controllers, CEO acknowledged balancing price increases vs competition as a 'balancing act' without committing to pass-through rate. ✓ fact

Our read after the latest results, written 17 May 2026.

When Macfos reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Robu 2.0 drones and defense engagement order book visibility - CEO flagged 2-year decision point (in or out); next quarter metrics should signal trajectory clarity on military and government traction.

Macfos is on one of our India lists: Momentum stocks.

Macfos Ltd earned ₹7.3 Cr of net profit in the Sep 2026 quarter, +45.3% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹26.0 Cr. Over 2 years profit has grown 53.7% a year on average. That is 7.4% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹5.1 Cr.

For the full year, FY26 profit was ₹26.0 Cr (+44.4% on the year before).

Why profit moved: revenue changed +44.2% on a year earlier and the margin moved +0.5 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +67.7% and revenue +54.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Macfos Ltd reported ₹98.7 Cr of revenue in the Sep 2026 quarter, +44.2% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 2 years it has grown 57.2% a year on average. The last full year, FY26, came in at ₹309 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The India electronics distribution market is growing driven by AI/IoT/drone/3D-printing adoption and the Make-in-India industrial push. CEO sees the market 'hot for at least next 2-3 years.' Average order value growth from H2 average ₹6,776 to Q4 approximately ₹7,300 confirms customer maturation, early startups graduating to mid-sized companies, enabling larger basket sizes. Corporate/B2B share growing faster than B2C. Macfos has no direct full-portfolio competitor in India. International players (Digi-Key, Mouser, Arrow) lack India-specific support. TAM estimated at ₹10,000 Cr by 2030.

The last four reported quarters add to ₹361 Cr.

FY26 revenue was ₹309 Cr, +21.2% on the year before.

Recent pace: the last four quarters grew +54.2% on average, against 57.2% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +53.0%, against +28.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +62.9%, against +29.0% a year (accelerating).

Macfos Ltd's operating margin was 11.7% in the Sep 2026 quarter, 0.5 percentage points higher than the same quarter a year ago. Across 3 years it has been between 10.0% and 12.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. FY26 confirmed operating leverage at scale: revenue ₹312 Cr (ex-one-off, ~64-67% YoY), EBITDA ₹39 Cr (+103% YoY), PAT ₹25.65 Cr (+105% YoY). Gross margin held flat at 24% while scale grew, meaning fixed-cost leverage drove the EBITDA expansion. Q4 FY26 was the strongest quarter: ₹102.14 Cr revenue with 13.6% OPM, versus 10.3% in Q4 FY25. The fixed costs (salary <5% of revenue, digital marketing <1.5% of revenue, ERP/IT infrastructure) are being absorbed over a growing revenue base. This is the primary earnings engine.

Why the margin moved: operating margin changed +0.5 percentage points on the year while gross margin changed +1.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years Macfos Ltd's operations used more cash than they brought in, so cash conversion was −49%, a gap worth watching. In FY26 its operations used ₹8.0 Cr of cash, against ₹26.0 Cr of profit. After ₹4.0 Cr of spending on assets, free cash was −₹12.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −49% of profit came in as cash: the cash cycle got 38 days longer between FY24 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 38 days longer. The next section looks at where the cash is stuck.

Macfos Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 113 days in FY26, up from 75 days in FY24. It spent ₹9.0 Cr on assets over the last 2 years. Customers take 16 days to pay, and stock sits for 122 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹309 Cr, each day of that cycle ties up about ₹0.8 Cr, so roughly ₹96.0 Cr is tied up in the business at any time.

FY26: customers took 16 days to pay and stock sat for 122 days, about 4.0 months of sales sitting as stock, for a full cycle of 113 days, longer than FY24's 75.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 122 days. Customers pay about 16 days after that. Suppliers are paid at 26 days. Together that makes the 113-day cycle.

Spending on assets: ₹9.0 Cr over the last 2 years, against ₹3.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Macfos Ltd's P/E is 38.2×, near the low end of its own history: it has been lower only 9% of the time. Its usual P/E (the middle reading) is 43.3×, over 2.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why the multiple is where it is: over the past year earnings per share moved +43.6% while the price moved +49.0%. The price did better than earnings, which pushed the multiple up within its own range.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Macfos Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: revenue growth has eased from +72.2% at its peak to +44.2% (from single-quarter figures), but the business is still expanding. This is based on 9 quarters of 2 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Macfos Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: EARLY EXPANSION.

NOT YET CHECKED

From the numbers. COMPRESSED with GOLDEN SETUP, EPS at ₹24.75 stepping up rapidly from ₹11.16 (FY24) → ₹17.23 (FY25) → ₹24.75 (FY26).…

From the price. Price stage 2, week 44, above its 200-day line, relative strength rising.

Where they disagree. COMPRESSED with GOLDEN SETUP, EPS at ₹24.75 stepping up rapidly from ₹11.16 (FY24) → ₹17.23 (FY25) → ₹24.75 (FY26). Earnings-driven compression: price lagging EPS acceleration. Q4 annualized EPS suggests FY27 trajectory toward ₹35-40 if growth sustains. Institutional signal mixed, FII at 0.32%, DII rising to 7.06% (Mar 2025 vs 0.09% in Dec 2023); promoter stake-cutting offset by DII accumulation.

What is not proven yet. Four instances of management saying X in Oct 2025 and directly contradicting X in Apr 2026, growth guidance softening, main board flip, Robu 2.0 drone-only vs SmartNix reality, inventory rotation confidence vs rising dead stock.

The test written in advance. Management communication integrity, four documented cross-call contradictions. Measured by: Management communication integrity, four documented cross-call contradictions Any new Q1 FY27 guidance statement vs Apr 2026 commitments by the next result.

The test written in advance. Slow-moving inventory rise + write-off risk. Measured by: Slow-moving inventory rise + write-off risk Q1 FY27 slow-moving inventory percentage vs 7% threshold by the next result.

What the company does. FY26 closed with revenue +64-67% (ex-one-off), EBITDA +103%, PAT +105%, Q4 FY26 the strongest quarter ever at ₹102 Cr revenue and ₹9.87 Cr PAT, OPM expanding 330bps YoY to 13.6%. Robu 2.0 (~300 SmartNix modules + 5-10 drone products) goals 10% higher gross margin vs distribution; binary 2-year defense decision ahead; four cross-call management consistency failures are the primary shareholder discount.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsbuilding
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servebuilding
• 15 · Market-share gainsbuilding
• 16 · Asset qualityquiet

Lever 1 · Operating leverage: building. Every ₹1 of incremental revenue dropping ~1.55x to EBITDA. FY26 EBITDA grew 103% on 64-67% revenue growth, fixed-cost absorption accelerating at scale. What proves it keeps working: Operating Leverage Inflection. It stops working if Any new Q1 FY27 guidance statement vs Apr 2026 commitments.

Lever 2 · Value-added mix: building. ~300 SmartNix modules + 5-10 drone products aiming for 10% higher gross margin than distribution, at 10% revenue mix, adds 1pp group margin. What proves it keeps working: Value-Added Product Mix Shift (Robu 2.0, SmartNix + Drones). It stops working if Any new Q1 FY27 guidance statement vs Apr 2026 commitments.

Lever 14 · A bigger market to serve: building. Indian electronics TAM expected ₹10,000 Cr by 2030; average order value lifted from ₹6,000 Q3 to ₹7,300 Q4, customer maturation and larger basket sizes structurally widening addressable revenue. What proves it keeps working: TAM Expansion (India Electronics Market Growth + Customer Maturation). It stops working if Any new Q1 FY27 guidance statement vs Apr 2026 commitments.

Lever 15 · Market-share gains: building. ~1.5 lakh SKUs with no full-portfolio Indian competitor; corporate sales grew from ~5% of revenue in 2019 to ~50% now, organized intermediary capturing fragmented distribution share. What proves it keeps working: Market Share Gains (SKU breadth + B2B corporate channel). It stops working if Any new Q1 FY27 guidance statement vs Apr 2026 commitments.

Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

What Macfos Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

Growth Guidance Confidence Shift · 30 April 2026. In Oct 2025, management gave an unambiguous affirmation when asked directly whether their historic ~50% CAGR and 8% PAT margins would continue for the next two to three years, explicitly stating they were 'very confident' the growth path would be maintained. In Apr 2026, when asked the same fundamental question about whether past growth rates can sustain, management gave a hedged, philosophical response acknowledging eventual sector saturation and did not reaffirm the prior commitment - a notable and unexplained softening of forward guidance even though FY26 like-for-like growth of 64-67% had actually exceeded the stated goal.

Main Board Migration Narrative Shift · 30 April 2026. In Oct 2025, management stated that main board migration had never been discussed in detail and was not on the table, framing it as an option not yet seriously considered. In Apr 2026, management directly contradicted this by claiming the decision to migrate was made at the time of the original SME listing three years ago and that preparatory steps have since been taken - a materially inconsistent account of how long and how actively this value-relevant corporate action has been evaluated internally.

Robu 2.0 Stated Drone-Only Focus vs. Actual Product Mix · 30 April 2026. In Oct 2025, management explicitly characterized Robu 2.0 as having narrowed to a singular sector focus on drones, using the phrase 'focusing on one sector' to describe the current strategic state of the initiative. In Apr 2026, management revealed approximately 300 SmartNix (non-drone) modules and only 5-10 drone products under Robu 2.0, and described both drones and SmartNix as 'major focus areas' - a product distribution and strategic framing that directly contradicts the prior representation of drones as the sole area of concentration.

Inventory Rotation Confidence vs. Acknowledged Rise in Dead Stock · 30 April 2026. In Oct 2025, when an shareholder specifically asked whether 4x-4.5x annual inventory rotation could be maintained given rapid SKU additions, management gave a confident and unqualified confirmation of 4.5x turns with no caveats. In Apr 2026, management acknowledged that slow-moving inventory has materially increased - attributing the cause to the components category addition that predated the Oct 2025 call - raising the question of why the Oct 2025 rotation figure was presented with such confidence despite the drag from that same category already being present at the time.

Every quote above is taken word for word from the company’s own earnings calls.

Macfos Ltd earned a ROCE of 34% in FY26. Its return on capital used (ROIC) is 7.1 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 8.4% net margin and 1.93× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 8.4% net margin × 1.93× asset turnover × 1.67× leverage (assets divided by equity) ≈ 27.1% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 19.1% − 12.0% = +7.1 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value.

Macfos Ltd had ₹36.0 Cr of borrowings against ₹96.0 Cr of equity in FY26, so its debt is 0.38× its equity. Its operating profit is 12 times its interest bill. Over 2 years borrowings went from ₹8.0 Cr to ₹36.0 Cr. Over the last 2 of those years it spent ₹9.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

Part of the spending on assets is being paid for with borrowed money.

No group of Macfos Ltd's owners changed its stake by a full percentage point over the last two years. Domestic institutions moved +0.1 points over the same period, to 5.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −0.1 points over 8 quarters, to 0.2%; Domestic institutions: +0.1 points over 8 quarters, to 5.4%; Promoters: +0.0 points over 8 quarters, to 69.1%.

For Macfos Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

60.7 out of 100, rank 3 of 13 in E-Commerce - Platform - Utility, with 80% of the evidence available.

Macfos Ltd scores 60.7 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 19.4 + 18 + 9.9 + 13.4 = 60.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Macfos ranks 3 of 13 E-Commerce - Platform - Utility companies on the 4-Factor Sector Score, with 60.7 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: E-Commerce - Platform - Utility, all 13 compared on one page.

Macfos is the 12th largest of 13 E-Commerce - Platform - Utility companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Just Dial, MPS, MSTC, One Mobikwik Systems and Creative Newtech. Just below it: RNFI Services.

E-Commerce - Platform - Utility companies close in size

7. Just Dial Ltd ₹5,481 crore
8. MPS Ltd ₹3,970 crore
9. MSTC Ltd ₹3,765 crore
10. One Mobikwik Systems Ltd ₹1,693 crore
11. Creative Newtech Ltd ₹1,670 crore
12. Macfos Ltd ₹1,179 crore
13. RNFI Services Ltd ₹800 crore

All 13 E-Commerce - Platform - Utility companies, largest first

Companies close in size in other industries

1492. Haryana Financial Corporation Ltd ₹1,189 crore · Finance - PSU Lending
1493. ICE Make Refrigeration Ltd ₹1,185 crore · Refrigeration
1494. Macfos Ltd ₹1,179 crore
1495. Manali Petrochemicals Ltd ₹1,176 crore · Petrochem - Polymers
1496. B.L.Kashyap & Sons Ltd ₹1,175 crore · Construction - Civil/Turnkey

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

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