MMP Industries share price today

MMP Industries Ltd's share price was ₹424.55 at the close on 5 November 2026. It has been rising for 22 weeks. That is 22.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹202 and ₹501, and at that close it sat 74% 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 MMP Industries Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 18 weeks in a row.

Over the last 8.6 years the share price moved +204% while the NIFTY 500 moved +135%, so it is ahead of the index over that whole period. 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.

One change stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare).

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹233 crore, +27.3% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), MMP Industries reported revenue of ₹253 crore, up 34.6% from ₹188 crore a year earlier, and a profit of ₹12.0 crore, up 71.4% from ₹7.00 crore.

MMP Industries 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 September 2026, about April to June 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.

MMP Industries closed at ₹424.55 on 5 November 2026, up 59.9% from ₹265.55 a year earlier (7 November 2025) and up 168.3% over five years. Its highest weekly close since April 2018 was ₹501.35 on 9 October 2026.

MMP Industries share price: then and now

Weekly closing prices. Each change is the move from that price to the 5 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

451 weekly closes from 13 April 2018 to 5 November 2026.

5 Nov 2026: MMP Industries closed at ₹424.55, down 7.1% on the week and down 15.3% on the month. 30 Sep 2026: MMP Industries held its results call for April to June 2026. Management guided: Consolidated revenue to at least double over the next 3 years; blended operating margin 10-11%, not profit, and new electrical businesses potentially ₹300-400 crore.

Earlier

• Results for July to September 2026: Revenue up 34.6% and profit up 71.4% on a year earlier.
• 4 Sep 2026: ex-date for a dividend of ₹2 a share, record date 5 Sep 2026.
• Our read, 19 Jul 2026: A reinvestment story with commercialisation catalysts, but profitability quality must prove itself beyond an unusual year-end print.

Our read of the business

Latest quarter: Revenue advanced, while below-line items lifted reported profit.

Our read after the latest results, written 19 July 2026.

MMP Industries paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.47% at the ₹424.55 close on 5 November 2026. The last was a dividend of ₹2 a share, ex-date 4 September 2026.

MMP Industries dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. MMP Industries Ltd paid out 16% of its profit as dividends in FY26, and it paid a dividend in 6 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 30 September 2026, MMP Industries' management guided: Consolidated revenue to at least double over the next 3 years; blended operating margin 10-11%, not profit, and new electrical businesses potentially ₹300-400 crore.

“We do not currently have a significant order book because we are waiting for our approvals.”Mayank Bhandari, Director, on the call for April to June 2026

What management guided

• Electricals planned at 50-60% of business in 5 years; operating margin framed at 7-8% for conductors, 16-17% for insulators and 11-12% for the electrical portfolio, with powder margins in the same range.
• Powder base business to grow at least 8% annually; foil operating margin planned at 4-5% this year.
• Wire rod production from January 2027; meaningful LT cable sales expected in Q4, with 500 metric tons per month added in the second half of next year, revenue of ₹15-18 crore this year, approximately ₹50 crore next year and ₹180-210 crore at peak around FY28-FY29, plus ₹35 crore capital spending.
• Solar park timing remains delayed by Maharashtra policy changes and pending agency approvals.

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 April to June 2026, 30 September 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 MMP Industries, from the latest results and calls: foil conversion utilisation, polymer insulator commercialisation and conductor integration and cable launch.

• Foil conversion utilisation. Unused conversion capacity gives the product-mix plan a measurable operating lever. ⚠ estimate
• Polymer insulator commercialisation. Utility and contractor approvals are the gating event for a new power-infrastructure product line. ⚠ estimate
• Conductor integration and cable launch. Backward integration and cable launch goal a segment whose legacy profitability has lagged revenue growth. ⚠ 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 19 July 2026.

The thesis breaks if subsequent reported quarters fail to convert the foil-utilisation and polymer-commercialisation plans into operating profit while borrowings continue to rise.

Each change stops working if

• Foil conversion utilisation: Conversion utilisation does not advance after the planned commercial actions or aluminium-price pressure prevents volume growth.
• Polymer insulator commercialisation: Approvals or commercial orders are delayed beyond the stated pathway.
• Conductor integration and cable launch: New products do not lift conductor profitability after launch or government-linked payment cycles remain elongated.

The main risks

• Year-end earnings quality: The year-end profit increase included a below-line contribution, so operating repeatability is not yet demonstrated. ✓ fact
• Commercialisation and guidance execution: Foil conversion and polymer plans require delivery against named approvals and utilisation goals. ⚠ estimate
• Debt-funded reinvestment: Operating cash has been reinvested, while borrowings have increased with the asset base. ⚠ estimate
• Conductor profitability repair: Legacy conductor profitability has not matched revenue growth, leaving the repair plan unproven. ✓ fact

Our read after the latest results, written 19 July 2026.

When MMP Industries reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Principal insulator approval and first high-voltage order book - check whether audits convert into customer qualification and orders.

MMP Industries is on 2 of our India lists: Momentum stocks and Copper & metal stocks.

MMP Industries Ltd earned ₹12.0 Cr of net profit in the Sep 2026 quarter, +71.4% on the same quarter a year earlier. Full-year FY26 profit was ₹31.0 Cr. Over 10 years profit has grown 13.2% a year on average. That is 4.7% of the quarter's revenue. The same quarter a year earlier earned ₹7.0 Cr.

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

1 of the last 12 reported quarters were loss-making.

For the full year, FY26 profit was ₹31.0 Cr (−20.5% on the year before).

Why profit moved: revenue changed +34.6% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +45.0% and revenue +23.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q3. Revenue moved ahead of the prior-year quarter and operating profit improved modestly, while net profit was broadly unchanged. The quarter offers a cleaner comparison than the later year-end result but does not establish the forward commercialisation case.

FY26-Q4. The latest quarter showed revenue and operating-profit growth, but the profit result also includes sizable other income and management-recognised exceptional credits. This is useful evidence of activity, not yet proof of repeatable earnings quality.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

MMP Industries Ltd reported ₹253 Cr of revenue in the Sep 2026 quarter, +34.6% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 16.4% a year on average. The last full year, FY26, came in at ₹824 Cr.

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

The last four reported quarters add to ₹939 Cr.

FY26 revenue was ₹824 Cr, +19.1% on the year before.

Recent pace: the last four quarters grew +23.7% on average, against 16.4% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +23.2%, against +24.9% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +129.2%, against +23.6% a year (accelerating).

FY26-Q3. Revenue moved ahead of the prior-year quarter and operating profit improved modestly, while net profit was broadly unchanged. The quarter offers a cleaner comparison than the later year-end result but does not establish the forward commercialisation case.

FY26-Q4. The latest quarter showed revenue and operating-profit growth, but the profit result also includes sizable other income and management-recognised exceptional credits. This is useful evidence of activity, not yet proof of repeatable earnings quality.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

MMP Industries Ltd's operating margin was 8.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 7.0% 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. Management identifies pharmaceutical bulk orders, printed foil, and planned product launches as the route to raise conversion utilisation. This can improve mix only when reported volume and margin follow the stated path.

Why the margin moved: operating margin changed +0.7 percentage points on the year while gross margin changed −1.5 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

FY26-Q3. Revenue moved ahead of the prior-year quarter and operating profit improved modestly, while net profit was broadly unchanged. The quarter offers a cleaner comparison than the later year-end result but does not establish the forward commercialisation case.

FY26-Q4. The latest quarter showed revenue and operating-profit growth, but the profit result also includes sizable other income and management-recognised exceptional credits. This is useful evidence of activity, not yet proof of repeatable earnings quality.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Over the last 3 years, 150% of MMP Industries Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹53.0 Cr of operating cash against ₹31.0 Cr of profit. After ₹48.0 Cr of spending on assets, ₹5.0 Cr was left over as free cash.

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 150% of profit came in as cash: the cash cycle got 41 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 4.9× depreciation over three years. The next section checks what that spending is building.

MMP Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 103 days in FY26, down from 144 days in FY21. It spent ₹142 Cr on assets over the last 3 years. Customers take 39 days to pay, and stock sits for 90 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 ₹824 Cr, each day of that cycle ties up about ₹2.3 Cr, so roughly ₹233 Cr is tied up in the business at any time.

FY26: customers took 39 days to pay and stock sat for 90 days, about 3.0 months of sales sitting as stock, for a full cycle of 103 days, shorter than FY21's 144.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 90 days. Customers pay about 39 days after that. Suppliers are paid at 26 days. Together that makes the 103-day cycle.

Spending on assets: ₹142 Cr over the last 3 years, against ₹29.0 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 ₹38.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

MMP Industries Ltd's P/E is 21.7×, near the high end of its own history: higher than 79% of past readings. Its usual P/E (the middle reading) is 16.9×, over 8.6 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.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹21.74.

Why the multiple is where it is: over the past year earnings per share moved −20.2% while the price moved +59.9%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 5 years the price moved +21.8% a year; about +14.6% a year came from earnings growth and about +7.2 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

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

Worked out from its price on 27 August 2026, MMP Industries Ltd's share price assumed profit growth of about 12.8% a year. Over the past 10 years its profit actually grew 13.2% a year. Today its P/E is 21.7×, higher than 79% of its own last 8.6 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 27 August 2026. Every other number on this page, the multiple included, uses the latest price as of 5 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

MMP Industries Ltd's business is getting better. Profit growth hit its low 4 quarters ago at −34.3% and has recovered to +129.2%, with ROCE rising at 20.0%. This is based on 12 quarters of 4 measures.

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: a lasting rise from a low is what this page is built to show.

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.