Mafatlal Industries Ltd
MAFATINDMafatlal Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk.
The price is in a downtrend (26 weeks in) while the P/E sits at the 40th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −21.7% year on year, and 76% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
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.
Mafatlal Industries Ltd trades at ₹134, in a downtrend and 26 weeks into that stage. That is −2.1% against its own 200-day average. It sits at 14% of a 52-week range of ₹125 to ₹193. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (2 weeks and counting).
Today the stock is in a downtrend — week 26 of stage 4, confirmed. At ₹134 it trades −2.1% versus its 200-day average and sits at 14% of its 52-week range (₹125–₹193).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +178% while the NIFTY 500 moved +276% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (2 weeks and counting; last ahead the week of 2026-07-17) — 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.
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.
Mafatlal Industries Ltd trades at 10.5× P/E, mid-range by its own standards (40th percentile). Its long-run median P/E is 11.7×, 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 10.5× is mid-range by its own standards (40th percentile), against a long-run median of 11.7× 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 −8.5% against a +6.7% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 10y, of the +7.3%/yr price move, ~+20.3%/yr came from earnings growth and ~−13.0 pp from the multiple (compressing). 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 unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.
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).
Mafatlal Industries Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +96.4% (single-quarter readings) while profit growth is falling at −21.7% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +37.9% | +41.3% | +45.0% | +11.3% |
| Profit | −9.2% | +34.0% | — | +18.0% |
| EPS | −8.5% | +33.3% | — | +17.6% |
| Share price | +6.7% | +24.6% | +32.6% | +7.3% |
4-Factor Sector Score
40.7/100 — rank 3 of 4 in Textiles - Composite Mills · 71% evidence confidence
Mafatlal Industries Ltd scores 40.7 out of 100 against the 4 companies it is compared with in Textiles - Composite Mills, ranking 3. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 17.4 + 10.3 + 10 + 3 = 40.7. 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.
Mafatlal Industries Ltd reported ₹884 Cr of revenue in the Mar 26 quarter, +96.4% year on year. Over 10 years it has compounded at 11.3% a year. The last full year, FY26, came in at ₹3,871 Cr. The last four reported quarters add to ₹3,871 Cr.
FY26 revenue came in at ₹3,871 Cr (+37.9% on the year), capping 10 years at 11.3% compound. The latest quarter (Mar 26) printed ₹884 Cr, +96.4% year on year.
Pace check: the last four quarters averaged +63.2% growth against the decade's 11.3% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +37.9% over the last 4 quarters against +36.5%/yr over the last 8 — stabilising; TTM profit −7.2% vs −4.2%/yr — stabilising.
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.
Mafatlal Industries Ltd's operating margin is 1.1% in the Mar 26 quarter, −1.4 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −8.0% to 3.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 1.1%, −1.4 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −8.0%–3.0%.
🚨 Why the margin moved: operating margin went −1.3 pp year on year while gross margin went −3.2 pp — the loss came mostly from the gross line: input costs and pricing.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Mafatlal Industries Ltd earned ₹18.0 Cr of net profit in the Mar 26 quarter, −21.7% year on year. Full-year FY26 profit was ₹89.0 Cr. The 10-year compound rate is 18.0%. That is 2.0% of the quarter's revenue. The same quarter a year earlier earned ₹23.0 Cr.
Mar 26 profit was ₹18.0 Cr, −21.7% year on year. On the full year, FY26 printed ₹89.0 Cr (−9.2%), and the 10-year compound rate is 18.0%.
🚨 Why profit moved: revenue contributed +96.4% and the margin −1.4 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit −10.4% vs revenue +63.2%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
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 76% of Mafatlal Industries Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹141 Cr of operating cash against ₹89.0 Cr of profit. After ₹28.0 Cr of capital spending, ₹113 Cr was left as free cash.
FY26: operating cash of ₹141 Cr against reported profit of ₹89.0 Cr, leaving free cash of ₹113 Cr after ₹28.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 76% 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 76%: the cash cycle stretched 27 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: conversion is below par and the cash cycle has stretched 27 days — the next section's job is to find where the cash is stuck.
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).
Mafatlal Industries Ltd's cash conversion cycle runs 3 days in FY26, up from −24 days in FY21. Capital spending ran ₹48.0 Cr over the last 3 years. At FY26 sales of ₹3,871 Cr each day of that cycle holds about ₹10.6 Cr, so roughly ₹32.0 Cr sits inside the business at any moment.
FY26: debtors at 67 days, inventory at 11 days — roughly 0.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 3 days, looser than FY21's −24.
The full loop: cash goes out to suppliers and production on day 0; stock waits 11 days to sell; customers pay about 67 days after that; and suppliers themselves are paid at 75 days — netting out to the 3-day cycle.
In money terms: at FY26 sales of ₹3,871 Cr, each day of the cycle holds about ₹10.6 Cr — so the 3-day loop keeps roughly ₹32.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹48.0 Cr over the last 3 fiscal years against ₹47.0 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹10.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
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.⚠ unverified
Mafatlal Industries Ltd earns a ROCE of 13% in FY26. That is up from a trough of −9% in FY21. Return on invested capital clears the cost of that capital by −0.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 2.3% net margin on 2.21× asset turns.
FY26 ROCE is 13%, recovered from a FY21 trough of −9% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 2.3% net margin × 2.21× asset turns × 2.27× balance-sheet leverage ≈ 11.5% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 11.7% − 12.0% = a −0.3 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. Negative — growth at these returns destroys value until the returns recover.
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.⚠ unverified
Mafatlal Industries Ltd carries total debt of ₹64.0 Cr against shareholder equity of ₹771 Cr as of Mar 26, a debt-to-equity of 0.08 — effectively unlevered. On the annual view that ratio went from 0.18 in FY22 to 0.08 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹64.0 Cr against shareholder equity of ₹771 Cr — a debt-to-equity of 0.08. On the annual view, debt-to-equity went from 0.18 (FY22) to 0.08 (FY26). The returns on this page are earned, not borrowed.
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.
No holder of Mafatlal Industries Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved −0.4 points over the same window, to 0.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: −0.8 points over 8 quarters to 0.1%; Foreign institutions: −0.4 points over 8 quarters to 0.3%; Promoters: −0.3 points over 8 quarters to 69.3%.
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.
Mafatlal Industries 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 | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Nahar Industrial Enterprises LtdNAHARINDUS | 50.3/100Mixed-positive evidence62% evidence | ASLEEP | 23.6/35 Revenue -8% · PAT 100% · OPM change 2 pp 95% evidence | 5.8/25 ROCE 6.6% · OPM 10% 95% evidence | 10.0/20 P/E 9.4× · PEG — 0% evidence | 10.9/20 RS sector — · RS bench 1.8% · 1Y —2 of 3 weeks ahead 25% evidence |
| Exact sum: 23.6 + 5.8 + 10 + 10.9 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Lakshmi Mills Company LtdLAKSHMIMIL | 41.0/100Thin evidence · provisional58% evidence | TURNING | 15.8/35 Revenue -8.1% · PAT -80% · OPM change 2.3 pp 71% evidence | 4.6/25 ROCE 2% · OPM 11.3% 76% evidence | 10.0/20 P/E — · PEG — 0% evidence | 10.6/20 RS sector 1.4% · RS bench -1.2% · 1Y -18.2%1 of 10 weeks ahead 70% evidence |
| Exact sum: 15.8 + 4.6 + 10 + 10.6 = 41 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 3Mafatlal Industries Ltdthis pageMAFATIND | 40.7/100Mixed-negative evidence71% evidence | ASLEEP | 17.4/35 Revenue 37.9% · PAT -7.2% · OPM change -1.4 pp 95% evidence | 10.3/25 ROCE 12.8% · OPM 1.1% 95% evidence | 10.0/20 P/E 10.5× · PEG — 0% evidence | 3.0/20 RS sector -7.7% · RS bench -6.5% · 1Y 4.2%1 of 7 weeks ahead 70% evidence |
| Exact sum: 17.4 + 10.3 + 10 + 3 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Ruby Mills LtdRUBYMILLS | 57.8/100Thin evidence · provisional45% evidence | LEADER | 17.7/35 Revenue — · PAT — · OPM change — 4% evidence | 10.1/25 ROCE 4.6% · OPM 28% 95% evidence | 10.0/20 P/E 28.6× · PEG — 0% evidence | 20.0/20 RS sector 31% · RS bench 50.1% · 1Y 57.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 17.7 + 10.1 + 10 + 20 = 57.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. 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 curve the sector itself 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 widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Mafatlal Industries Ltd's share price today?
Mafatlal Industries Ltd trades at ₹134, +6.7% over the past year. The company is valued at ₹965 Cr. The stock sits at 14% of its 52-week range of ₹125–₹193, −2.1% versus its 200-day average. On the tape, the price is in a downtrend, 26 weeks in. — as of 31 July 2026.
What were Mafatlal Industries Ltd's latest quarterly results?
Mafatlal Industries Ltd reported revenue of ₹884 Cr and net profit of ₹18.0 Cr for the Mar 26 quarter. Revenue rose 96.4% and profit fell 21.7% year on year. Earnings per share were ₹2.49. The operating margin was 1.1%, 1.4 pp lower than a year earlier. — as of 31 July 2026.
What is Mafatlal Industries Ltd's revenue?
Mafatlal Industries Ltd reported revenue of ₹884 Cr in the Mar 26 quarter, +96.4% year on year. For the full FY26 fiscal year, revenue was ₹3,871 Cr (+37.9%). Over the last 10 years revenue compounded at 11.3% a year. — as of 31 July 2026.
What is Mafatlal Industries Ltd's profit?
Mafatlal Industries Ltd earned ₹18.0 Cr of net profit in the Mar 26 quarter, −21.7% year on year. Full-year FY26 profit was ₹89.0 Cr. The operating margin ran 1.1% in the latest quarter. — as of 31 July 2026.
What is Mafatlal Industries Ltd's market cap?
Mafatlal Industries Ltd's market capitalisation is ₹965 Cr at a share price of ₹134. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Mafatlal Industries Ltd's P/E ratio?
Mafatlal Industries Ltd trades at a P/E of 10.5×, at the 40th percentile of its own 10-year range, against a long-run median of 11.7×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Mafatlal Industries Ltd pay a dividend?
Yes — Mafatlal Industries Ltd's dividend payout was 18% of profit in FY26, and it recorded a payout in 6 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 31 July 2026.
Is Mafatlal Industries Ltd overvalued?
On its own history, Mafatlal Industries Ltd looks mid-range against its own history: its P/E of 10.5× sits at the 40th percentile of its 10-year range (long-run median 11.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 31 July 2026.
Is Mafatlal Industries Ltd growing?
Not right now — Mafatlal Industries Ltd's latest numbers are shrinking: latest-quarter revenue +96.4% year on year, profit −21.7%, and the margin −1.4 pp at 1.1%. The 10-year compound rates are 11.3% (revenue) and 18.0% (profit). The earnings engine currently reads: deteriorating — as of 31 July 2026.
How is Mafatlal Industries Ltd performing?
Mafatlal Industries Ltd is in a downtrend, 26 weeks in. Its latest quarter's revenue rose 96.4% and profit fell 21.7% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 2 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Mafatlal Industries Ltd in?
Mixed — revenue growth is rising at +96.4% (single-quarter readings) while profit growth is falling at −21.7% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +96.4% latest, profit growth −21.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Mafatlal Industries Ltd in an uptrend?
No — the price is in a downtrend (week 26 of stage 4), trading −2.1% versus its 200-day average and at 14% 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 31 July 2026.
Is Mafatlal Industries Ltd beating the market?
Not lately — on a trailing-13-week view Mafatlal Industries Ltd is currently behind the NIFTY 500 (2 weeks and counting; last ahead the week of 2026-07-17), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +178% against the NIFTY 500's +276% — behind the index over the full window. — as of 31 July 2026.
Will Mafatlal Industries Ltd's share price go up?
This page publishes no price forecast for Mafatlal Industries Ltd. What it measures instead: the share price is ₹134, the price is in a downtrend 26 weeks in. Its P/E of 10.5× sits at the 40th percentile of its own 10-year range. — as of 31 July 2026.
Who owns Mafatlal Industries Ltd?
Promoters hold 69.3% of Mafatlal Industries Ltd, foreign institutions 0.3%, domestic institutions 0.1% and the public 30.3% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 31 July 2026.
Does Mafatlal Industries Ltd have too much debt?
No — Mafatlal Industries Ltd's debt-to-equity is 0.08, and operating profit covers the interest bill 10×. FY26 borrowings were ₹64.0 Cr against equity of ₹771 Cr. The returns on this page are earned, not borrowed — as of 31 July 2026.
What is Mafatlal Industries Ltd's capex?
Mafatlal Industries Ltd spent ₹48.0 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 ₹28.0 Cr, with ₹10.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Mafatlal Industries Ltd's cash flow?
Mafatlal Industries Ltd generated ₹141 Cr of operating cash flow in FY26 and ₹113 Cr of free cash flow after ₹28.0 Cr of capital spending. Reported profit that year was ₹89.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Mafatlal Industries Ltd's profit real cash?
Mostly — over the last 3 fiscal years, 76% of Mafatlal Industries Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹141 Cr against reported profit of ₹89.0 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 31 July 2026.
Where is Mafatlal Industries Ltd in its business cycle?
Mafatlal Industries Ltd's FY26 operating margin was 2.4%, against a 13-year band of −8.0%–3.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 1.1%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Mafatlal Industries Ltd story?
Biggest watch item: the price is not yet in a confirmed uptrend — timing risk, not thesis risk. 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 31 July 2026.
Is Mafatlal Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Mafatlal Industries Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.