# MMP Industries share price today (MMP Industries Ltd, NSE: MMP)

> MMP Industries share price today: ₹416.85 at the NSE close on 3 November 2026, up 43.7% in a year. MMP Industries (NSE: MMP) is worth ₹1,059 crore, trades at a P/E of 23.7 and has closed between ₹201.56 and ₹501.35 over the past 52 weeks. > MMP Industries Ltd's share price has risen faster than its earnings: +43.7% in a year, against −20.2% for earnings per share. MMP · Aluminium Products · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/mmp-industries-ltd

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## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: ₹416.85 (+43.7% in a year)
- P/E: 23.7× (higher than 86% of the last 8.5 years)
- Revenue (Jun 2026): ₹233 Cr (+27.3% on a year ago)
- Profit (Jun 2026): ₹14.0 Cr
- Operating margin: 9.0% (+2.0 points on a year ago)
- ROCE: 13%, FY26
- ROIC: 9.1%, against a 12.0% cost of capital: −2.9 points

The main question: the share price moved +43.7% in a year while yearly earnings per share moved −20.2%. The difference came from the market paying a higher multiple. ## What is the MMP Industries share price today? MMP Industries Ltd's share price was ₹416.85 at the close on 3 November 2026. It has been rising for 22 weeks. That is 21.5% 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 72% of the way up from that low. 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 +199% 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. ## What changed at MMP Industries this quarter? 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. ## What are MMP Industries' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), MMP Industries reported revenue of ₹233 crore, up 27.3% from ₹183 crore a year earlier, and a profit of ₹14.0 crore, against a loss of ₹5.00 crore a year earlier. ### MMP Industries results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹233 crore | ₹183 crore | +27.3% |
| Profit | ₹14.0 crore | loss of ₹5.00 crore | n/a |
| Earnings per share | ₹5.39 | ₹−2.13 | n/a |
| Operating margin | 9.0% | 7.0% | +2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). MMP Industries' management discussed these results on a call held on 30 September 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the MMP Industries share price history? MMP Industries closed at ₹416.85 on 3 November 2026, up 43.7% from ₹290.10 a year earlier (31 October 2025) and up 163.4% over five years. Its highest weekly close since April 2018 was ₹501.35 on 9 October 2026. ### MMP Industries share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹437.55 | −4.7% |
| 1 month ago · 1 Oct 2026 | ₹449.60 | −7.3% |
| 6 months ago · 30 Apr 2026 | ₹246.22 | +69.3% |
| 1 year ago · 31 Oct 2025 | ₹290.10 | +43.7% |
| 3 years ago · 3 Nov 2023 | ₹217.75 | +91.4% |
| 5 years ago · 4 Nov 2021 | ₹158.25 | +163.4% |
| Earliest weekly close in our records · 13 Apr 2018 | ₹139.63 | +198.5% |
| Highest weekly close since April 2018, also the 52-week high · 9 Oct 2026 | ₹501.35 | −16.9% |
| Lowest weekly close since April 2018 · 29 May 2020 | ₹47.50 | +777.6% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹201.56 | +106.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (451 weekly closes from 13 April 2018 to 3 November 2026.)

## What is the latest news on MMP Industries? 3 Nov 2026: MMP Industries closed at ₹416.85, down 4.7% on the week and down 7.3% 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

- 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. - Results for April to June 2026: Revenue up 27.3% on a year earlier. ### 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.)

## What dividend does MMP Industries pay? MMP Industries paid ₹2 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.48% at the ₹416.85 close on 3 November 2026. The last was a dividend of ₹2 a share, ex-date 4 September 2026. ### MMP Industries dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 4 Sep 2026 | ₹2 | Dividend | 5 Sep 2026 |
| 1 Sep 2025 | ₹2 | Dividend | same day |
| 19 Aug 2024 | ₹1.50 | Dividend | n/a |
| 18 Aug 2023 | ₹1 | Dividend | n/a |
| 18 Aug 2022 | ₹1 | Dividend | n/a |
| 2 Sep 2021 | ₹1 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did MMP Industries management say on the latest results call? 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](https://files.tijoristack.ai/concall/transcript/5669-30-Sep-2026.pdf). (From the call for April to June 2026, 30 September 2026.)

## What is the future of MMP Industries? What is changing in the business? 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.)

## What could change the MMP Industries story? What are the risks? 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.)

## What to watch in MMP Industries' next results? When MMP Industries reports July to September 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. - What to check (from the call)
- Principal insulator approval and first high-voltage order book - check whether audits convert into customer qualification and orders. - Wire-rod commissioning and captive conductor supply - check whether production starts on schedule and feeds conductors. - LT cable sales and approvals - check whether customer clearances convert initial activity into the expected ramp. - Solar park approvals and commissioning - check whether the policy-related delay is cleared. ## Which stock lists is MMP Industries on? MMP Industries is on 2 of our India lists: Momentum stocks and Copper & metal stocks. - [Momentum stocks Market cap cr: 1098.2706988953298](https://www.sectoralpha.in/momentum-stocks-india)
- [Copper & metal stocks Group on the list: Aluminium and zinc](https://www.sectoralpha.in/copper-stocks-india)

## Is MMP Industries profitable? MMP Industries Ltd earned ₹14.0 Cr of net profit in the Jun 2026 quarter. Full-year FY26 profit was ₹31.0 Cr. Over 10 years profit has grown 13.2% a year on average. That is 6.0% of the quarter's revenue. The same quarter a year earlier lost ₹5.0 Cr. 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). On average over the last four quarters, profit changed +26.8% and revenue +22.5%. 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. ## How much revenue does MMP Industries make, and is it growing? MMP Industries Ltd reported ₹233 Cr of revenue in the Jun 2026 quarter, +27.3% 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. The last four reported quarters add to ₹874 Cr. FY26 revenue was ₹824 Cr, +19.1% on the year before. Recent pace: the last four quarters grew +22.5% 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 +21.6%, against +22.4% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +117.4%, against +19.5% 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. ## How much of every ₹100 of sales does MMP Industries keep? MMP Industries Ltd's operating margin was 9.0% in the Jun 2026 quarter, 2.0 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. 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 +2.0 percentage points on the year while gross margin changed +2.0 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. ## Is MMP Industries' profit turning into cash? 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. 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. ## Where does MMP Industries' cash go? 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. 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. ## What is MMP Industries' P/E ratio, and how does it compare with its own history? MMP Industries Ltd's P/E is 23.7×, near the high end of its own history: higher than 86% of past readings. Its usual P/E (the middle reading) is 16.9×, over 8.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. 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 Jun 2026 add up to ₹19.73. Why the multiple is where it is: over the past year earnings per share moved −20.2% while the price moved +43.7%. 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 +21.4% a year; about +12.2% a year came from earnings growth and about +9.2 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. ## What growth does the MMP Industries share price assume? 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 23.7×, higher than 86% of its own last 8.5 years. 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 3 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. ## Is the MMP Industries business getting better or worse? MMP Industries Ltd's business is getting better. Profit growth hit its low 3 quarters ago at −34.3% and has recovered to +117.4%, with ROCE rising at 20.0%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## What is the MMP Industries story, and has it been checked? MMP Industries Ltd's story is not scored yet against the checks our research set on 19 July 2026. Where it sits in its own cycle: MID CONTRACTION. Still open: 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. Our read, 19 July 2026. A reinvestment story with commercialisation catalysts, but profitability quality must prove itself beyond an unusual year-end print. From the numbers. Price remains below the earlier peak, but the fundamental…

From the price. Price stage 2, week 22, above its 200-day line, relative strength rising. From the research. A reinvestment story with commercialisation catalysts, but profitability quality must prove itself beyond an unusual year-end print. Where they disagree. What is proven. A reinvestment story with commercialisation catalysts, but profitability quality must prove itself beyond an unusual year-end print. What is not proven yet. 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. What would change our mind. 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. The test written in advance. 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. Measured by: the thesis as written as stated by the next result. The test written in advance. Year-end earnings quality. Measured by: Year-end earnings quality Quarterly operating profit and other income versus profit before tax by the next result. The test written in advance. Commercialisation and guidance execution. Measured by: Commercialisation and guidance execution Disclosed approvals, conversion utilisation, and segment revenue reconciliation by the next result. What the surface reading misses. The surface reading is: The latest quarter appears to show a sharp earnings acceleration. The research reads it further: The comparison is against a low base, and a large portion of current-quarter profit before tax is below the operating line. What the surface reading misses. The surface reading is: Revenue growth with lower profit suggests a deterioration in earnings quality. The research reads it further: Management attributes the year to an operating disruption, subsidiary ramp-up losses, and exceptional losses, while the recorded margin change is modest. Lever 1 · Operating leverage: building. Unused conversion capacity gives the product-mix plan a measurable operating lever. What proves it keeps working: Foil conversion utilisation. It stops working if Conversion utilisation does not advance after the planned commercial actions or aluminium-price pressure prevents volume growth. Lever 2 · Value-added mix: building. Utility and contractor approvals are the gating event for a new power-infrastructure product line. What proves it keeps working: Polymer insulator commercialisation. It stops working if Approvals or commercial orders are delayed beyond the stated pathway. Lever 3 · Management change: building. Backward integration and cable launch goal a segment whose legacy profitability has lagged revenue growth. What proves it keeps working: Conductor integration and cable launch. It stops working if New products do not lift conductor profitability after launch or government-linked payment cycles remain elongated. Sources: our stock research file (19 July 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did MMP Industries management deliver what it promised? What MMP Industries Ltd's management promised, against what actually happened: 3 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. PAT Versus EBITDA Guidance Recharacterized · 30 September 2026. Within the Sep 2026 call, management first presented the 10-11% blended margin as a PAT margin, then later said the same guidance was EBITDA rather than PAT. Although the later comment may be intended as a correction, the distinction materially changes the earnings outlook and should be reconciled. Earlier in Latest Call (Sep 2026): On a blended basis, I would say a PAT margin of approximately 10-11%. Later in Latest Call (Sep 2026): I mentioned 10% EBITDA, not PAT. I mentioned EBITDA of 10-11% going forward. Insulator Margin Goal Is Inconsistent · 30 September 2026. Management first cited an expected insulator EBITDA margin of 18-20%, but later said insulator margins would increase from 11-12% to 16-17%. No product mix, ramp-up phase, or other basis was provided to reconcile these materially different profitability goals. Earlier in Latest Call (Sep 2026): I will be conservative regarding the expected margin. I am looking at EBITDA margins of 18-20%. Later in Latest Call (Sep 2026): Insulator margins will increase from the current 11-12% to 16-17%. Star Circlips Liquidity Description Is Inconsistent · 30 September 2026. This leaves the immediate liquidity available for the acquisitions management says it is actively seeking unclear. Earlier in Latest Call (Sep 2026): We are also having a significant amount of cash, so it does not really make sense to list the company. Every quote above is taken word for word from the company’s own earnings calls. ## How much does MMP Industries earn on its capital? MMP Industries Ltd earned a ROCE of 13% in FY26. That is up from a low of 10% in FY12. Its return on capital used (ROIC) is 2.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 3.8% net margin and 1.32× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 3.8% net margin × 1.32× asset turnover × 1.81× leverage (assets divided by equity) ≈ 9.1% 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: 9.1% − 12.0% = −2.9 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. Negative: growth at these returns loses value until returns improve. ## Does MMP Industries have too much debt? MMP Industries Ltd has total debt of ₹185 Cr against shareholder equity of ₹347 Cr as of Jun 2026, so its debt is 0.53× its equity. Year by year, that ratio went from 0.22 in FY22 to 0.53 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the MMP Industries shareholding pattern? No group of MMP Industries 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 0.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why this happened. Management points to the wire-rod project and cable launch as the repair path for conductors. The opportunity is real only if segment profitability changes after execution, not merely after capacity is installed. Over the last two years: Foreign institutions: +0.5 points over 8 quarters, to 0.5%; Domestic institutions: +0.1 points over 8 quarters, to 0.1%; Promoters: +0.0 points over 8 quarters, to 74.5%. ## How far is MMP Industries from balance-sheet trouble? For MMP Industries 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. ## How does MMP Industries rank in its industry? 69.1 out of 100, rank 1 of 4 in Aluminium Products, with 85% of the evidence available. MMP Industries Ltd scores 69.1 out of 100 against the 4 companies it is compared with in Aluminium Products, ranking 1. 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: 27.4 + 9.6 + 12.1 + 20 = 69.1. 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. ## Which companies is MMP Industries compared with? MMP Industries ranks 1 of 4 Aluminium Products companies on the 4-Factor Sector Score, with 69.1 out of 100. 1. MMP Industries Ltd this page MMP · leader · Most evidence points up · 85% evidence 69.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.4/35 · Revenue 21.6% · Profit 100% · Operating margin change 2 points · 65% evidence Capital efficiency 9.6/25 · ROCE 12.6% · Operating margin 9% · 100% evidence Valuation 12.1/20 · P/E 26× · PEG 0.52 · 85% evidence Relative strength 20.0/20 · Lead over its industry 38.3% · Lead over NIFTY 500 59.3% · 1 year 57.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 27.4 + 9.6 + 12.1 + 20 = 69.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Manaksia Coated Metals & Industries Ltd](https://www.sectoralpha.in/stocks/manaksia-coated-metals-industries-ltd) MANAKCOAT · breaking out · Evidence leans up · 75% evidence 58.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.5/35 · Revenue 12.7% · Profit 18.4% · Operating margin change -1 points · 100% evidence Capital efficiency 15.6/25 · ROCE 17.8% · Operating margin 11% · 100% evidence Valuation 13.6/20 · P/E 32.8× · PEG 0.98 · 50% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 21.6% · 1 year -8.1% · 25% evidence · 10 of 12 weeks ahead Exact sum: 16.5 + 15.6 + 13.6 + 12.5 = 58.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Arfin India Ltd](https://www.sectoralpha.in/stocks/arfin-india-ltd) ARFIN · breaking out · Evidence leans up · 93% evidence 50.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.8/35 · Revenue 22.4% · Profit 100% · Operating margin change -1.5 points · 88% evidence Capital efficiency 12.2/25 · ROCE 14% · Operating margin 4.5% · 100% evidence Valuation 5.9/20 · P/E 93.7× · PEG 2.09 · 85% evidence Relative strength 7.6/20 · Lead over its industry -2.1% · Lead over NIFTY 500 14.1% · 1 year 63.7% · 100% evidence · 4 of 12 weeks ahead Exact sum: 24.8 + 12.2 + 5.9 + 7.6 = 50.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Maan Aluminium Ltd](https://www.sectoralpha.in/stocks/maan-aluminium-ltd) MAANALU · quiet · Most evidence points down · 86% evidence 29.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.2/35 · Revenue -1.8% · Profit -9.8% · Operating margin change 0 points · 88% evidence Capital efficiency 7.0/25 · ROCE 7.7% · Operating margin 2.3% · 100% evidence Valuation 15.0/20 · P/E 39.1× · PEG 0.43 · 50% evidence Relative strength 0.0/20 · Lead over its industry -41% · Lead over NIFTY 500 -30.1% · 1 year -37.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 7.2 + 7 + 15 + 0 = 29.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 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: [Aluminium Products](https://www.sectoralpha.in/sectors/aluminium-products), all 4 compared on one page. ## Which companies are close to MMP Industries in size? MMP Industries is the 3rd largest of 4 Aluminium Products companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Arfin India and Manaksia Coated Metals & Industries. Just below it: Maan Aluminium. ### Aluminium Products companies close in size

1. [Arfin India Ltd](https://www.sectoralpha.in/stocks/arfin-india-ltd) ₹1,510 crore
2. [Manaksia Coated Metals & Industries Ltd](https://www.sectoralpha.in/stocks/manaksia-coated-metals-industries-ltd) ₹1,495 crore
3. MMP Industries Ltd ₹1,161 crore
4. [Maan Aluminium Ltd](https://www.sectoralpha.in/stocks/maan-aluminium-ltd) ₹524 crore

[All 4 Aluminium Products companies, largest first](https://www.sectoralpha.in/sectors/aluminium-products#all-companies)

### Companies close in size in other industries

1. [Den Networks Ltd](https://www.sectoralpha.in/stocks/den-networks-ltd) ₹1,163 crore · Entertainment & Media
2. [M.V.K. Agro Food Product Ltd](https://www.sectoralpha.in/stocks/mvk-agro-food-product-ltd) ₹1,162 crore · Sugar
3. MMP Industries Ltd ₹1,161 crore
4. [PVP Ventures Ltd](https://www.sectoralpha.in/stocks/pvp-ventures-ltd) ₹1,157 crore · Realty - Construction & Contracting
5. [Kopran Ltd](https://www.sectoralpha.in/stocks/kopran-ltd) ₹1,155 crore · Pharma - API

## What else do people ask about MMP Industries? ### What is MMP Industries's share price today? MMP Industries Ltd's share price is ₹416.85, +43.7% over the past year. The whole company is worth ₹1,059 Cr on the market. In the last 52 weeks it traded between ₹202 to ₹501; today it is 72% of the way up from the low, 21.5% above its 200-day average (as of 3 November 2026). ### What were MMP Industries's latest quarterly results? MMP Industries Ltd reported revenue of ₹233 Cr and net profit of ₹14.0 Cr for the Jun 2026 quarter. Earnings per share were ₹5.39. The operating margin was 9.0%, 2.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is MMP Industries's market cap? MMP Industries Ltd's market capitalisation is ₹1,059 Cr at a share price of ₹416.85. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is MMP Industries performing? MMP Industries Ltd's share price has been rising for 22 weeks. Over the past 13 weeks it has done better than the NIFTY 500, for 18 weeks running. This describes what the data did, not a rating (as of 3 November 2026). ### Will MMP Industries's share price go up? This page does not forecast MMP Industries Ltd's share price. What it shows instead: the share price is ₹416.85, and it has been rising for 22 weeks. Its P/E of 23.7× is higher than 86% of its own last 9 years (as of 3 November 2026). ### Who owns MMP Industries? Promoters own 74.5% of MMP Industries Ltd, foreign institutions 0.5%, domestic institutions 0.1% and the public 25.0% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Does MMP Industries have too much debt? MMP Industries Ltd has a moderate amount of debt: its debt is 0.53× its equity, and its operating profit is 5 times its interest bill. FY26 borrowings were ₹185 Cr against equity of ₹346 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is MMP Industries in its business cycle? MMP Industries Ltd's FY26 operating margin was 8.0%, against a 13-year range of 7.0% to 12.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 9.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the MMP Industries story? The main question: the share price moved +43.7% in a year while yearly earnings per share moved −20.2%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is MMP Industries a stock worth studying right now? What the numbers show: MMP Industries Ltd's share price has risen faster than its earnings: +43.7% in a year, against −20.2% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a MMP Industries share price forecast for 2026? What management itself 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. What is changing at MMP Industries, from the latest results and calls: foil conversion utilisation, polymer insulator commercialisation and conductor integration and cable launch. What would change the story: 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. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Copper & metal stocks: https://www.sectoralpha.in/copper-stocks-india

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