Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

MMTC Ltd

MMTC
Trading

MMTC 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 disagreement: annual EPS moved +344.8% against a −4.5% price move — the market has not yet caught up with the delivery.

The price is in a downtrend (1 weeks in) while the P/E sits at the 27th percentile of its own 8-year range. Underneath, the last four quarters read mixed, and −199% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Mixed
partial read
Price
₹61.9
−4.5% 1Y
P/E
46.1×
27th pctile
of its own 8-year range
Revenue (Jun 26)
₹1.0 Cr
+0.0% YoY
Profit (Jun 26), incl. one-off
₹104 Cr
one-off item — see below
Operating margin
−2,969.0%
−1,270.0 pp YoY
ROCE
9%
FY26
ROIC
−32.5%
vs WACC 12.0% → −44.5 pp
Cash conversion
−199%
of profit, last 3 FY
01 · Price story

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.

MMTC Ltd trades at ₹61.9, in a downtrend and 1 weeks into that stage. That is −3.6% against its own 200-day average. It sits at 38% of a 52-week range of ₹53 to ₹76. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (10 weeks and counting).

Today the stock is in a downtrend — week 1 of stage 4, confirmed. At ₹61.9 it trades −3.6% versus its 200-day average and sits at 38% of its 52-week range (₹53–₹76).

Sep 26: ₹61.9 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
−3.6% versus the 200-day line, week 1 of stage 4
Price50-day avg200-day avg
S2S4S4S2₹113₹92.4₹71.8₹51.3₹30.7₹62₹64Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4S4S2₹113₹92.4₹71.8₹51.3₹30.7₹62₹64Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (555 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +164% while the NIFTY 500 moved +267% — behind the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (10 weeks and counting; last ahead the week of 2026-07-03) — 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.

02 · Valuation

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.

MMTC Ltd trades at 46.1× P/E, near the bottom of its own range — cheaper only 27% of the time. Its long-run median P/E is 76.3×, measured across 8.0 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 46.1× is near the bottom of its own range — cheaper only 27% of the time, against a long-run median of 76.3× measured over 8.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 46.1× vs a 76.3× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 8.0-year window; loss-period spikes above 210× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
near the bottom of its own range — cheaper only 27% of the time
P/EMedianEPS (TTM) (quarterly)
226.0×₹3.3169.5×₹2.5113.0×₹1.756.5×₹0.80.0×₹0.0×46.20×₹1Aug 18May 20May 23Feb 25Sep 26
226.0×₹3.3169.5×₹2.5113.0×₹1.756.5×₹0.80.0×₹0.0×46.20×₹1Aug 18May 23Sep 26
PEG 0.06 PEG ratio per quarter — the P/E divided by the earnings-growth rate. The dashed line marks 1.0: below it the growth is cheap against the multiple, above it the price already prices the growth in. Computed here as quarter-end P/E ÷ trailing-twelve-month EPS growth (only quarters with positive growth), because a reported quarterly PEG is not held for this stock. Last 5 quarters; values above 6 pinned at the top.
below 1.0, the growth looks cheap against the multiple
PEGPEG = 1.0
6.5×4.9×3.2×1.6×0.0××0.06×Q2 FY25Q3 FY25Q2 FY26Q3 FY26Q4 FY26
6.5×4.9×3.2×1.6×0.0××0.06×Q2 FY25Q2 FY26Q4 FY26
P/E
46.1×
27th percentile of 8y
PEG
n/m
not derivable — 3-year earnings growth unavailable

Why the multiple sits where it does: over the past year annual EPS moved +344.8% against a −4.5% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +6.2%/yr price move, ~+8.8%/yr came from earnings growth and ~−2.6 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 low against its own past, so the story rests on the earnings line underneath it, not the multiple.

03 · What the price assumes

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 15 June 2026 price, MMTC Ltd was paying for profit growth of about 18.7% a year. Today the market pays 46.1× P/E, the 27th percentile of its own 8-year range.

What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is the whole of what a buyer is backing.

How to hold this number: it is a reading of one day's price, taken on 15 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

04 · Stage: Mixed

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).

MMTC Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 9.0% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue +100.0% in FY26, profit +344.8% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn. Turnaround-year spikes shown pinned (▲).
Revenue YoYProfit YoYEPS YoY
116%348%58%174%0.0%0.0%−58%−174%−116%−348%%%100%300%FY16FY21FY26
116%348%58%174%0.0%0.0%−58%−174%−116%−348%%%100%300%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Base-effect spikes shown pinned (▲). A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · profit accelerating
RevenueProfitEPS
8.7%331%−23%218%−55%104%−86%−9.8%−118%−123%%%0%300%300%Sep 23Dec 24Jun 26
8.7%331%−23%218%−55%104%−86%−9.8%−118%−123%%%0%300%300%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
24%20%16%11%6.8%%9%FY23FY24FY26
24%20%16%11%6.8%%9%FY23FY24FY26
Revenue growth
Flat
latest +0.0% · span −109.3% to +0.0%
Profit growth
Rising
latest +356.1% · span −92.1% to +356.1%
EPS growth
Rising
latest +358.5% · span −92.0% to +358.5%
ROCE
Stuck low
latest 9.0% · span 8.0%–23.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

The latest quarter’s profit carries a one-off item larger than the operating base, so the profit curve is shown but does not vote in 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.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+100.0%−91.7%−85.4%−58.3%
Profit+344.8%−37.2%
EPS+344.8%−37.2%
Share price−4.5%−1.8%+6.2%+7.2%
Revenue YoY (Jun 26)
+0.0%
latest quarter vs a year ago
Revenue 10y
−58.3%
long-run compound pace
05 · 4-Factor Sector Score

4-Factor Sector Score

44.8/100 — rank 25 of 52 in Trading · 96% evidence confidence

MMTC Ltd scores 44.8 out of 100 against the 52 companies it is compared with in Trading, ranking 25. Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

The four contributions add to the total exactly: 15.1 + 8 + 15.3 + 6.4 = 44.8. 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.

06 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

MMTC Ltd reported ₹1.0 Cr of revenue in the Jun 26 quarter, +0.0% year on year. Over 10 years it has compounded at −58.3% a year. The last full year, FY26, came in at ₹2.0 Cr. The last four reported quarters add to ₹3.0 Cr.

FY26 revenue came in at ₹2.0 Cr (+100.0% on the year), capping 10 years at −58.3% compound. The latest quarter (Jun 26) printed ₹1.0 Cr, +0.0% year on year.

FY26 revenue ₹2.0 Cr (+100.0% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
−58.3% a year over 10 years
RevenueYoY growth
32.4k116%24.3k58%16.2k0.0%8.1k−58%0−116%₹ Cr%₹2100%FY16FY21FY26
32.4k116%24.3k58%16.2k0.0%8.1k−58%0−116%₹ Cr%₹2100%FY16FY21FY26
Jun 26: ₹1.0 Cr (+0.0% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
1911%−43−29%−104−69%−165−109%−227−150%₹ Cr%₹10%Sep 23Dec 24Jun 26
1911%−43−29%−104−69%−165−109%−227−150%₹ Cr%₹10%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged −25.0% growth against the decade's −58.3% — the current year is running faster than its own long-run rate.

Acceleration check: TTM profit +356.1% vs +45.6%/yr — accelerating.

07 · Operating margin

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.

MMTC Ltd's operating margin is −2,969.0% in the Jun 26 quarter, −1,270.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −13,800.0% to 3.9%. The current quarter sits inside that band.

The latest quarter's operating margin is −2,969.0%, −1,270.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −13,800.0%–3.9%.

🚨 Why the margin moved: operating margin went −1,270.6 pp year on year while gross margin went +26.5 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: −8,520.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a −13,800.0–3.9% band over 13 years
operating marginYoY change (pp)
1,108%6,422%−2,895%2,281%−6,898%−1,860%−10,901%−6,001%−14,904%−10,142%%%−8,520%5,280%FY14FY20FY26
1,108%6,422%−2,895%2,281%−6,898%−1,860%−10,901%−6,001%−14,904%−10,142%%%−8,520%5,280%FY14FY20FY26
Jun 26: −2,969.0% operating margin (−1,270.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
919%7,197%−2,362%3,181%−5,643%−835%−8,924%−4,851%−12,205%−8,867%%%−2,969%−1,270%Sep 23Dec 24Jun 26
919%7,197%−2,362%3,181%−5,643%−835%−8,924%−4,851%−12,205%−8,867%%%−2,969%−1,270%Sep 23Dec 24Jun 26
08 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

MMTC Ltd earned ₹104 Cr of net profit in the Jun 26 quarter. That quarter carries a one-off item larger than its own revenue, so the year-on-year figure is an artefact rather than a trading result. Full-year FY26 profit was ₹387 Cr. That is 10,400.0% of the quarter's revenue. The same quarter a year earlier earned ₹44.0 Cr.

Jun 26 profit was ₹104 Cr, +136.4% year on year — the 5th consecutive quarter of growth. On the full year, FY26 printed ₹387 Cr (+344.8%).

🚨 Read this profit with care: at ₹104 Cr it is larger than the whole quarter's revenue of ₹1.0 Cr — no operating business earns more than it sells, so this is a one-off item (a debt-to-equity conversion, a tax write-back or an asset sale), not money the business earned. The underlying operations are running at −2,969.0% operating margin; the year-on-year jump and any P/E built on this number are artefacts of the one-off, not a real earnings turn.

FY26 profit ₹387 Cr (+344.8% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
Net profitYoY growth
1.8k402%1.1k195%387−12%−295−218%−977−425%₹ Cr%₹387344.8%FY16FY21FY26
1.8k402%1.1k195%387−12%−295−218%−977−425%₹ Cr%₹387344.8%FY16FY21FY26
Jun 26: ₹104 Cr (+136.4% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
5th straight quarter of growth
Net profit (quarterly)YoY growth
1856,704%1394,878%923,051%461,225%0−601%₹ Cr%₹1046,200%Sep 23Dec 24Jun 26
1856,704%1394,878%923,051%461,225%0−601%₹ Cr%₹1046,200%Sep 23Dec 24Jun 26
09 · Cash flow — the router

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 −199% of MMTC Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−605 Cr of operating cash against ₹387 Cr of profit. After ₹0.0 Cr of capital spending, ₹−605 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹−605 Cr against reported profit of ₹387 Cr, leaving free cash of ₹−605 Cr after ₹0.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −199% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−605 Cr vs profit ₹387 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
−199% of 3-year profit arrived as cash
Operating cashNet profitFree cash
2.0k802−445−1.7k−2.9k₹ Cr₹−605₹387₹−605FY16FY21FY26
2.0k802−445−1.7k−2.9k₹ Cr₹−605₹387₹−605FY16FY21FY26
FY26: CFO = −156% of profit (three-year rate −199%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
204%−172%−549%−925%−1,301%%−156%FY16FY21FY26
204%−172%−549%−925%−1,301%%−156%FY16FY21FY26

🚨 Why conversion sits at −199%: the cash cycle stretched 4,122 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: conversion is below par and the cash cycle has stretched 4,122 days — the next section's job is to find where the cash is stuck.

10 · Where the cash goes

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).

MMTC Ltd's cash conversion cycle runs 4,120 days in FY26, up from −2 days in FY21. Capital spending ran ₹−1.0 Cr over the last 3 years. At FY26 sales of ₹2.0 Cr each day of that cycle holds about ₹0.0 Cr, so roughly ₹23.0 Cr sits inside the business at any moment.

FY26: debtors at 4,120 days, inventory at 0 days — roughly 0.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 4,120 days, looser than FY21's −2.

In money terms: at FY26 sales of ₹2.0 Cr, each day of the cycle holds about ₹0.0 Cr — so the 4,120-day loop keeps roughly ₹23.0 Cr sitting inside the business at any moment.

FY26: a 4,120-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+4,122 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
1,75,16498,25721,351−55,555−1,32,462days4,120d0d4,120d1,53,948dFY14FY17FY20FY23FY26
1,75,16498,25721,351−55,555−1,32,462days4,120d0d4,120d1,53,948dFY14FY20FY26

On the investment side: capital spending of ₹−1.0 Cr over the last 3 fiscal years against ₹14.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹0.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
23−40−103−165−228₹ Cr₹0₹0FY16FY18FY21FY23FY26
23−40−103−165−228₹ Cr₹0₹0FY16FY21FY26

The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.

11 · Return on capital

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.

MMTC Ltd earns a ROCE of 9% in FY26. That is up from a trough of −8% in FY16. Return on invested capital clears the cost of that capital by −44.5 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 19,350.0% net margin on 0.00× asset turns.

FY26 ROCE is 9%, recovered from a FY16 trough of −8% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): 19,350.0% net margin × 0.00× asset turns × 1.32× balance-sheet leverage ≈ 0.0% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −32.5% − 12.0% = a −44.5 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.

FY26: ROCE 9% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY16's −8%
ROCEROIC (annual)WACC
33%−2.8%−39%−74%−110%%9%−31.1%FY14FY20FY26
33%−2.8%−39%−74%−110%%9%−31.1%FY14FY20FY26
Q4 FY26: ROCE −8.7% (TTM) vs WACC 12.0% Trailing-twelve-month ROCE and ROIC, per quarter, %; dashed line = the cost of capital. Last 12 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)ROIC (TTM)WACC
35%−47%−129%−210%−292%%−8.7%−25.9%Q1 FY24Q2 FY25Q4 FY26
35%−47%−129%−210%−292%%−8.7%−25.9%Q1 FY24Q2 FY25Q4 FY26
12 · Debt

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.

MMTC Ltd carries total debt of ₹2.0 Cr against shareholder equity of ₹2,121 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from −17.74 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹2.0 Cr against shareholder equity of ₹2,121 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from −17.74 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.

FY26: debt ₹2.0 Cr at 0.00× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 5-year window.
Total debtDebt-to-equity
2.8k1.6×2.1k−3.6×1.4k−8.8×709−14.0×0−19.2×₹ Cr×₹20.00×FY22FY24FY26
2.8k1.6×2.1k−3.6×1.4k−8.8×709−14.0×0−19.2×₹ Cr×₹20.00×FY22FY24FY26
Mar 26: debt ₹2.0 Cr, debt-to-equity 0.00 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 12 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
2190.15×1640.11×1100.07×550.03×0−0.01×₹ Cr×₹20.00×Jun 23Sep 24Mar 26
2190.15×1640.11×1100.07×550.03×0−0.01×₹ Cr×₹20.00×Jun 23Sep 24Mar 26
13 · Ownership

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 MMTC Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.1 points over the same window, to 0.2%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −0.9 points over 8 quarters to 1.8%; Foreign institutions: +0.1 points over 8 quarters to 0.2%; Promoters: +0.0 points over 8 quarters to 89.9%.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
97%71%45%19%−7.1%%89.9%0.1%1.8%8.2%Mar 24Mar 25Mar 26
97%71%45%19%−7.1%%89.9%0.1%1.8%8.2%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
97%71%45%19%−7.2%%89.9%0.2%1.8%8.2%Jun 23Dec 24Jun 26
97%71%45%19%−7.2%%89.9%0.2%1.8%8.2%Jun 23Dec 24Jun 26
14 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

MMTC 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.

15 · Related companies · Trading
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1Onix Solar Energy LtdONIXSOLAR 70.9/100Favorable setup69% evidence 28.9/35 Revenue 26.2% · PAT 100% · OPM change 23 pp 95% evidence 18.3/25 ROCE 32% · OPM 30% 76% evidence 10.3/20 P/E 24.4× · PEG — 15% evidence 13.4/20 RS sector 68.4% · RS bench -3.5% · 1Y 49.1%12 of 12 weeks ahead 70% evidence
Exact sum: 28.9 + 18.3 + 10.3 + 13.4 = 70.9 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Rashi Peripherals LtdRPTECH 69.0/100Favorable setup75% evidence LEADER 24.9/35 Revenue 40.4% · PAT 50.2% · OPM change -0.3 pp 95% evidence 14.7/25 ROCE 17% · OPM 3% 76% evidence 10.7/20 P/E 17.1× · PEG — 15% evidence 18.7/20 RS sector 51.6% · RS bench 69.1% · 1Y 176.9%12 of 12 weeks ahead 100% evidence
Exact sum: 24.9 + 14.7 + 10.7 + 18.7 = 69 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Nupur Recyclers LtdNRL 67.9/100Favorable setup87% evidence LEADER 22.5/35 Revenue 40.6% · PAT 29.8% · OPM change 3.6 pp 95% evidence 16.5/25 ROCE 15.1% · OPM 11.6% 95% evidence 9.2/20 P/E 53.6× · PEG — 50% evidence 19.7/20 RS sector 66.4% · RS bench 88.4% · 1Y 89.6%12 of 12 weeks ahead 100% evidence
Exact sum: 22.5 + 16.5 + 9.2 + 19.7 = 67.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Magnus Steel & Infra Ltd517320 67.5/100Thin evidence · provisional56% evidence 27.8/35 Revenue 100% · PAT 100% · OPM change 1.6 pp 83% evidence 18.5/25 ROCE 171% · OPM 21.3% 76% evidence 9.2/20 P/E 92.5× · PEG — 15% evidence 12.0/20 RS sector — · RS bench 46.1% · 1Y 1449.6%0 of 1 week ahead to 2026-06-28 25% evidence
Exact sum: 27.8 + 18.5 + 9.2 + 12 = 67.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Vision Infra Equipment Solutions LtdVIESL 67.3/100Thin evidence · provisional56% evidence TURNING 19.0/35 Revenue — · PAT — · OPM change 0 pp 26% evidence 19.8/25 ROCE 22.6% · OPM 26% 95% evidence 10.9/20 P/E 14.9× · PEG — 15% evidence 17.6/20 RS sector 26.9% · RS bench 44.5% · 1Y 122.8%9 of 12 weeks ahead 100% evidence
Exact sum: 19 + 19.8 + 10.9 + 17.6 = 67.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Shankara Buildpro LtdBUILDPRO 63.3/100Mixed-positive evidence63% evidence BREAKING OUT 25.6/35 Revenue 26.3% · PAT 41.9% · OPM change -0.2 pp 100% evidence 17.3/25 ROCE 39% · OPM 3.2% 100% evidence 10.4/20 P/E 22.8× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —8 of 12 weeks ahead 0% evidence
Exact sum: 25.6 + 17.3 + 10.4 + 10 = 63.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7Ivalue Infosolutions LtdIVALUE 60.4/100Mixed-positive evidence60% evidence ASLEEP 20.6/35 Revenue 5.4% · PAT 22.1% · OPM change 5.6 pp 95% evidence 18.6/25 ROCE 25.4% · OPM 10% 95% evidence 11.2/20 P/E 11.4× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -19.4%6 of 10 weeks ahead 0% evidence
Exact sum: 20.6 + 18.6 + 11.2 + 10 = 60.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Sudarshan Pharma Industries Ltd543828 60.3/100Mixed-positive evidence82% evidence LEADER 20.9/35 Revenue 32.9% · PAT 24.3% · OPM change 1.5 pp 95% evidence 13.6/25 ROCE 15.1% · OPM 9.1% 76% evidence 8.9/20 P/E 39.2× · PEG — 50% evidence 16.9/20 RS sector 17.5% · RS bench 33.4% · 1Y 25.2%12 of 12 weeks ahead 100% evidence
Exact sum: 20.9 + 13.6 + 8.9 + 16.9 = 60.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Euro Pratik Sales LtdEUROPRATIK 59.9/100Mixed-positive evidence73% evidence ASLEEP 15.1/35 Revenue 23.9% · PAT 29% · OPM change -8 pp 100% evidence 19.5/25 ROCE 38.4% · OPM 26% 100% evidence 15.3/20 P/E 29.1× · PEG 0.62 65% evidence 10.0/20 RS sector — · RS bench — · 1Y 4.7%6 of 10 weeks ahead 0% evidence
Exact sum: 15.1 + 19.5 + 15.3 + 10 = 59.9 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
10Tembo Global Industries LtdTEMBO 59.0/100Mixed-positive evidence80% evidence TURNING 22.2/35 Revenue 34% · PAT 55.7% · OPM change 5 pp 95% evidence 18.4/25 ROCE 22.8% · OPM 16% 95% evidence 11.3/20 P/E 10.2× · PEG — 15% evidence 7.1/20 RS sector -17.4% · RS bench -4.5% · 1Y -10.2%2 of 12 weeks ahead 100% evidence
Exact sum: 22.2 + 18.4 + 11.3 + 7.1 = 59 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Mangalam Global Enterprise LtdMGEL 58.7/100Mixed-positive evidence80% evidence 25.7/35 Revenue 41.4% · PAT 100% · OPM change 0.5 pp 95% evidence 15.8/25 ROCE 17% · OPM 1.9% 95% evidence 11.1/20 P/E 13× · PEG — 15% evidence 6.1/20 RS sector -14.5% · RS bench -0.2% · 1Y -3.5%6 of 7 weeks ahead to 2026-08-09 100% evidence
Exact sum: 25.7 + 15.8 + 11.1 + 6.1 = 58.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -14.5% and the one-year return is -3.5%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
12Arisinfra Solutions LtdARIS 57.6/100Mixed-positive evidence65% evidence TURNING 22.0/35 Revenue 45.3% · PAT 100% · OPM change 2 pp 95% evidence 15.1/25 ROCE 15.6% · OPM 11% 95% evidence 10.8/20 P/E 15.5× · PEG — 15% evidence 9.7/20 RS sector — · RS bench -1.2% · 1Y -12.3%4 of 10 weeks ahead 25% evidence
Exact sum: 22 + 15.1 + 10.8 + 9.7 = 57.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Aayush Art and Bullion Ltd540718 56.4/100Thin evidence · provisional54% evidence BREAKING OUT 21.2/35 Revenue 100% · PAT — · OPM change 1.6 pp 35% evidence 13.2/25 ROCE 18.9% · OPM 6% 76% evidence 8.9/20 P/E 245× · PEG — 15% evidence 13.1/20 RS sector -1.1% · RS bench 13.5% · 1Y 29.2%3 of 12 weeks ahead 100% evidence
Exact sum: 21.2 + 13.2 + 8.9 + 13.1 = 56.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14Patel Retail LtdPATELRMART 53.8/100Mixed-positive evidence65% evidence ASLEEP 18.1/35 Revenue 42.3% · PAT 59.7% · OPM change -2.2 pp 95% evidence 14.3/25 ROCE 15.3% · OPM 6.1% 95% evidence 10.8/20 P/E 16.9× · PEG — 15% evidence 10.6/20 RS sector — · RS bench 2.8% · 1Y -18.4%5 of 10 weeks ahead 25% evidence
Exact sum: 18.1 + 14.3 + 10.8 + 10.6 = 53.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Prostarm Info Systems LtdPROSTARM 52.0/100Mixed-positive evidence65% evidence BASING 17.1/35 Revenue 30.5% · PAT 19.1% · OPM change 1.4 pp 95% evidence 16.1/25 ROCE 18% · OPM 8.5% 95% evidence 10.5/20 P/E 22× · PEG — 15% evidence 8.3/20 RS sector — · RS bench -12.2% · 1Y -35.5%0 of 10 weeks ahead 25% evidence
Exact sum: 17.1 + 16.1 + 10.5 + 8.3 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
16Fabtech Technologies LtdFABTECH 50.8/100Thin evidence · provisional52% evidence TURNING 17.5/35 Revenue 14.2% · PAT 41% · OPM change 14.8 pp 71% evidence 12.3/25 ROCE 13.6% · OPM 5.7% 95% evidence 11.0/20 P/E 13.4× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —0 of 10 weeks ahead 0% evidence
Exact sum: 17.5 + 12.3 + 11 + 10 = 50.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17Lloyds Enterprises LtdLLOYDSENT 50.3/100Mixed-positive evidence75% evidence TURNING 18.1/35 Revenue 33% · PAT -21.4% · OPM change 9 pp 95% evidence 11.3/25 ROCE 3.7% · OPM 16% 76% evidence 9.1/20 P/E 93.3× · PEG — 15% evidence 11.8/20 RS sector -5% · RS bench 8.7% · 1Y -6%10 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 11.3 + 9.1 + 11.8 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18BMW Ventures LtdBMW 50.0/100Thin evidence · provisional55% evidence 16.9/35 Revenue 18.5% · PAT 24.2% · OPM change -0.6 pp 95% evidence 11.9/25 ROCE 12% · OPM 3.4% 76% evidence 11.2/20 P/E 12.2× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -18.7%0 of 10 weeks ahead 0% evidence
Exact sum: 16.9 + 11.9 + 11.2 + 10 = 50 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19SG Mart LtdSGMART 48.9/100Mixed-negative evidence93% evidence LEADER 13.9/35 Revenue 10.4% · PAT 14.7% · OPM change 1.4 pp 100% evidence 8.6/25 ROCE 10.2% · OPM 4.5% 100% evidence 8.2/20 P/E 76.1× · PEG 1.92 65% evidence 18.2/20 RS sector 34.9% · RS bench 51.7% · 1Y 106.8%12 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 8.6 + 8.2 + 18.2 = 48.9 · Decision use: Price leads the evidence: RS versus the benchmark is 51.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
20Bizotic Commercial Ltd543926 48.7/100Thin evidence · provisional58% evidence BASING 19.8/35 Revenue — · PAT — · OPM change 0 pp 26% evidence 18.6/25 ROCE 26.8% · OPM 8% 76% evidence 9.7/20 P/E 34.1× · PEG — 50% evidence 0.6/20 RS sector -86.7% · RS bench -18.3% · 1Y -72.4%0 of 12 weeks ahead 100% evidence
Exact sum: 19.8 + 18.6 + 9.7 + 0.6 = 48.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
21Yogi LtdYOGI 47.9/100Thin evidence · provisional58% evidence 20.3/35 Revenue 97.5% · PAT 68.1% · OPM change -5.9 pp 62% evidence 9.9/25 ROCE 12.8% · OPM 2.6% 76% evidence 9.5/20 P/E 54.1× · PEG — 15% evidence 8.2/20 RS sector -6.5% · RS bench -2.1% · 1Y -11.1%2 of 12 weeks ahead 70% evidence
Exact sum: 20.3 + 9.9 + 9.5 + 8.2 = 47.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22Shiv Aum Steels LtdSHIVAUM 47.4/100Thin evidence · provisional55% evidence BREAKING OUT 16.9/35 Revenue — · PAT — · OPM change 1.3 pp 45% evidence 11.4/25 ROCE 8% · OPM 4.7% 95% evidence 7.2/20 P/E 66.8× · PEG — 50% evidence 11.9/20 RS sector — · RS bench 38.3% · 1Y —6 of 6 weeks ahead 25% evidence
Exact sum: 16.9 + 11.4 + 7.2 + 11.9 = 47.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23Dhunseri Ventures LtdDVL 46.8/100Mixed-negative evidence87% evidence BREAKING OUT 12.6/35 Revenue -20% · PAT 31.7% · OPM change -12 pp 95% evidence 9.7/25 ROCE 6.7% · OPM 39% 95% evidence 11.9/20 P/E 5.3× · PEG — 50% evidence 12.6/20 RS sector -7.1% · RS bench 8% · 1Y -14.9%7 of 12 weeks ahead 100% evidence
Exact sum: 12.6 + 9.7 + 11.9 + 12.6 = 46.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24Adani Enterprises LtdADANIENT 45.5/100Mixed-negative evidence93% evidence TURNING 14.3/35 Revenue 18.1% · PAT 4.2% · OPM change 0 pp 100% evidence 8.5/25 ROCE 5.8% · OPM 15% 100% evidence 7.7/20 P/E 174× · PEG 1.96 65% evidence 15.0/20 RS sector 8.6% · RS bench 23.9% · 1Y 38.4%10 of 12 weeks ahead 100% evidence
Exact sum: 14.3 + 8.5 + 7.7 + 15 = 45.5 · Decision use: Price leads the evidence: RS versus the benchmark is 23.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
25MMTC Ltdthis pageMMTC 44.8/100Mixed-negative evidence96% evidence ASLEEP 15.1/35 Revenue 0% · PAT 100% · OPM change -1270 pp 100% evidence 8.0/25 ROCE 8.7% · OPM — 84% evidence 15.3/20 P/E 46.1× · PEG 0.92 100% evidence 6.4/20 RS sector -14.9% · RS bench -1.9% · 1Y -4.1%3 of 12 weeks ahead 100% evidence
Exact sum: 15.1 + 8 + 15.3 + 6.4 = 44.8 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
26State Trading Corporation of India LtdSTCINDIA 42.5/100Mixed-negative evidence67% evidence ASLEEP 19.6/35 Revenue — · PAT 100% · OPM change -14.6 pp 67% evidence 5.6/25 ROCE -0.9% · OPM — 80% evidence 11.9/20 P/E 14× · PEG — 50% evidence 5.4/20 RS sector -28.7% · RS bench -5.6% · 1Y -5.6%2 of 11 weeks ahead 70% evidence
Exact sum: 19.6 + 5.6 + 11.9 + 5.4 = 42.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27RRP Semiconductor LtdRRP 41.1/100Thin evidence · provisional54% evidence 11.4/35 Revenue -80% · PAT -80% · OPM change 3.3 pp 71% evidence 5.4/25 ROCE -32.7% · OPM — 61% evidence 10.0/20 P/E — · PEG — 0% evidence 14.3/20 RS sector 65.3% · RS bench 0.8% · 1Y 66.5%0 of 1 week ahead 70% evidence
Exact sum: 11.4 + 5.4 + 10 + 14.3 = 41.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
28Cropster Agro Ltd523105 40.7/100Mixed-negative evidence65% evidence 16.0/35 Revenue 28.4% · PAT 6.5% · OPM change 2.1 pp 83% evidence 11.3/25 ROCE 12.4% · OPM 8.7% 76% evidence 10.1/20 P/E 31× · PEG — 15% evidence 3.3/20 RS sector -72.7% · RS bench -62.7% · 1Y -83.2%0 of 1 week ahead to 2026-08-09 70% evidence
Exact sum: 16 + 11.3 + 10.1 + 3.3 = 40.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
29Hexa Tradex LtdHEXATRADEX 40.3/100Mixed-negative evidence65% evidence BASING 17.2/35 Revenue 0.4% · PAT 70.3% · OPM change 13.6 pp 71% evidence 6.1/25 ROCE -0.1% · OPM — 80% evidence 10.0/20 P/E — · PEG — 0% evidence 7.0/20 RS sector -16.8% · RS bench -3.7% · 1Y -12.7%0 of 12 weeks ahead 100% evidence
Exact sum: 17.2 + 6.1 + 10 + 7 = 40.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
30Hardwyn India LtdHARDWYN 40.2/100Mixed-negative evidence87% evidence ASLEEP 13.8/35 Revenue 2.6% · PAT -8.5% · OPM change -0.2 pp 95% evidence 12.5/25 ROCE 4.8% · OPM 13% 95% evidence 12.1/20 P/E 50.6× · PEG — 50% evidence 1.8/20 RS sector -38.3% · RS bench -29.5% · 1Y -3.4%3 of 12 weeks ahead 100% evidence
Exact sum: 13.8 + 12.5 + 12.1 + 1.8 = 40.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
31Blue Pearl Agriventures LtdBPAGRI 39.8/100Mixed-negative evidence69% evidence 20.5/35 Revenue 19.3% · PAT 59.1% · OPM change 0.3 pp 95% evidence 6.3/25 ROCE 2.2% · OPM 3.3% 76% evidence 8.7/20 P/E 514× · PEG — 15% evidence 4.3/20 RS sector -33.5% · RS bench -82.5% · 1Y -91.2%1 of 12 weeks ahead 70% evidence
Exact sum: 20.5 + 6.3 + 8.7 + 4.3 = 39.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
32Pervasive Commodities Ltd517172 38.3/100Thin evidence · provisional52% evidence 12.7/35 Revenue 25.6% · PAT -8.3% · OPM change -6.1 pp 95% evidence 5.6/25 ROCE 0% · OPM -10.2% 76% evidence 10.0/20 P/E — · PEG — 0% evidence 10.0/20 RS sector — · RS bench — · 1Y — 0% evidence
Exact sum: 12.7 + 5.6 + 10 + 10 = 38.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
33Riddhi Siddhi Gluco Biols Ltd524480 38.0/100Mixed-negative evidence82% evidence FADING 12.4/35 Revenue -38% · PAT 38.4% · OPM change -2.8 pp 95% evidence 6.6/25 ROCE 2.7% · OPM -3% 76% evidence 6.5/20 P/E 37.3× · PEG — 50% evidence 12.5/20 RS sector 10.5% · RS bench 25.4% · 1Y 33.5%9 of 12 weeks ahead 100% evidence
Exact sum: 12.4 + 6.6 + 6.5 + 12.5 = 38 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
34PTC India LtdPTC 36.6/100Mixed-negative evidence82% evidence BASING 11.2/35 Revenue 13.3% · PAT -43.1% · OPM change -3.9 pp 95% evidence 12.6/25 ROCE 13.4% · OPM 3.1% 76% evidence 9.7/20 P/E 8.8× · PEG — 50% evidence 3.1/20 RS sector -21.6% · RS bench -9.8% · 1Y -13%0 of 12 weeks ahead 100% evidence
Exact sum: 11.2 + 12.6 + 9.7 + 3.1 = 36.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
35Neueon Corporation LtdNEUEON 35.6/100Thin evidence · provisional59% evidence ASLEEP 9.1/35 Revenue 17.8% · PAT -80% · OPM change -1039 pp 71% evidence 3.7/25 ROCE -40.4% · OPM — 80% evidence 10.0/20 P/E — · PEG — 0% evidence 12.8/20 RS sector 12.7% · RS bench -1.5% · 1Y —1 of 12 weeks ahead 70% evidence
Exact sum: 9.1 + 3.7 + 10 + 12.8 = 35.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
36Kothari Industrial Corporation LtdKOTIC 34.2/100Adverse evidence63% evidence BASING 18.8/35 Revenue 75.9% · PAT -80% · OPM change -41.8 pp 71% evidence 1.6/25 ROCE -28.9% · OPM -43% 95% evidence 10.0/20 P/E — · PEG — 0% evidence 3.8/20 RS sector -58.6% · RS bench -43.5% · 1Y -77.5%0 of 9 weeks ahead 70% evidence
Exact sum: 18.8 + 1.6 + 10 + 3.8 = 34.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
37Shanti Overseas (India) LtdSHANTI 32.3/100Thin evidence · provisional56% evidence 11.2/35 Revenue -63.4% · PAT 100% · OPM change -200.5 pp 40% evidence 4.5/25 ROCE -25.2% · OPM -216.5% 71% evidence 13.1/20 P/E 3× · PEG — 50% evidence 3.5/20 RS sector -60.4% · RS bench -49.7% · 1Y -47.1%0 of 12 weeks ahead to 2026-03-29 70% evidence
Exact sum: 11.2 + 4.5 + 13.1 + 3.5 = 32.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
38BN Agrochem LtdBNAGROCHEM 32.2/100Adverse evidence77% evidence ASLEEP 12.9/35 Revenue 84.5% · PAT -61% · OPM change -9.4 pp 100% evidence 4.4/25 ROCE 4.4% · OPM 2.3% 100% evidence 9.0/20 P/E 117× · PEG — 15% evidence 5.9/20 RS sector -16.7% · RS bench -35.6% · 1Y -46.5%4 of 10 weeks ahead 70% evidence
Exact sum: 12.9 + 4.4 + 9 + 5.9 = 32.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
39Uniphos Enterprises LtdUNIENTER 30.4/100Adverse evidence69% evidence BASING 12.6/35 Revenue -77.1% · PAT 100% · OPM change -0.9 pp 71% evidence 4.6/25 ROCE 0.8% · OPM — 80% evidence 8.8/20 P/E 31.4× · PEG — 50% evidence 4.4/20 RS sector -43.6% · RS bench -22% · 1Y -41%1 of 10 weeks ahead 70% evidence
Exact sum: 12.6 + 4.6 + 8.8 + 4.4 = 30.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
40Oswal Agro Mills LtdOSWALAGRO 24.7/100Adverse evidence67% evidence 2.8/35 Revenue -80% · PAT -80% · OPM change -21782.3 pp 95% evidence 7.8/25 ROCE 2% · OPM — 80% evidence 10.0/20 P/E — · PEG — 0% evidence 4.1/20 RS sector -50.3% · RS bench -32% · 1Y -49.6%0 of 6 weeks ahead to 2026-08-16 70% evidence
Exact sum: 2.8 + 7.8 + 10 + 4.1 = 24.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
41Mardia Samyoung Capillary Tubes Company LtdMSCTC 56.9/100Thin evidence · provisional32% evidence 20.8/35 Revenue 100% · PAT 100% · OPM change — 29% evidence 15.2/25 ROCE 22.6% · OPM 15.3% 57% evidence 8.6/20 P/E 687× · PEG — 15% evidence 12.3/20 RS sector — · RS bench 74.6% · 1Y 93.7%6 of 12 weeks ahead to 2026-03-08 25% evidence
Exact sum: 20.8 + 15.2 + 8.6 + 12.3 = 56.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
42Proventus Agrocom LtdPROV 56.7/100Thin evidence · provisional48% evidence BREAKING OUT 19.6/35 Revenue — · PAT — · OPM change 0.2 pp 26% evidence 12.4/25 ROCE 11.5% · OPM 1.8% 95% evidence 13.1/20 P/E 42.8× · PEG — 50% evidence 11.6/20 RS sector — · RS bench 26.9% · 1Y —12 of 12 weeks ahead 25% evidence
Exact sum: 19.6 + 12.4 + 13.1 + 11.6 = 56.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
43DC Infotech & Communication LtdDCI 56.3/100Thin evidence · provisional35% evidence 18.6/35 Revenue — · PAT — · OPM change 0.3 pp 24% evidence 17.6/25 ROCE 22.9% · OPM 4.7% 76% evidence 10.6/20 P/E 20.4× · PEG — 15% evidence 9.5/20 RS sector — · RS bench -1.6% · 1Y — 25% evidence
Exact sum: 18.6 + 17.6 + 10.6 + 9.5 = 56.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
44SK Minerals & Additives Ltd544584 55.8/100Thin evidence · provisional36% evidence TURNING 16.6/35 Revenue — · PAT — · OPM change 1.3 pp 39% evidence 19.0/25 ROCE 26.2% · OPM 10.7% 76% evidence 10.2/20 P/E 29.5× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y —3 of 4 weeks ahead 0% evidence
Exact sum: 16.6 + 19 + 10.2 + 10 = 55.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
45Monika Alcobev LtdMONIKA 54.0/100Thin evidence · provisional22% evidence 16.4/35 Revenue — · PAT — · OPM change -2 pp 15% evidence 17.0/25 ROCE 21% · OPM 15% 57% evidence 10.6/20 P/E 20.4× · PEG — 15% evidence 10.0/20 RS sector — · RS bench — · 1Y -10.9%0 of 12 weeks ahead to 2026-03-08 0% evidence
Exact sum: 16.4 + 17 + 10.6 + 10 = 54 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
46Shah Foods Ltd519031 53.6/100Thin evidence · provisional18% evidence TURNING 17.1/35 Revenue — · PAT — · OPM change -10.7 pp 7% evidence 15.3/25 ROCE — · OPM 18% 30% evidence 8.8/20 P/E 276× · PEG — 15% evidence 12.4/20 RS sector — · RS bench 103.9% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 17.1 + 15.3 + 8.8 + 12.4 = 53.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
47Pramara Promotions LtdPRAMARA 51.7/100Thin evidence · provisional47% evidence 16.6/35 Revenue — · PAT — · OPM change -1 pp 15% evidence 13.9/25 ROCE 15.2% · OPM 15% 71% evidence 6.9/20 P/E 51.3× · PEG — 50% evidence 14.3/20 RS sector 7.9% · RS bench 29% · 1Y 34.5%10 of 12 weeks ahead to 2026-04-19 70% evidence
Exact sum: 16.6 + 13.9 + 6.9 + 14.3 = 51.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
48Manbro Industries Ltd512595 50.9/100Thin evidence · provisional22% evidence 18.3/35 Revenue — · PAT — · OPM change 32.8 pp 5% evidence 13.1/25 ROCE — · OPM 6.6% 23% evidence 10.0/20 P/E — · PEG — 0% evidence 9.5/20 RS sector -17.3% · RS bench 37.2% · 1Y 62.6%12 of 12 weeks ahead to 2026-05-03 70% evidence
Exact sum: 18.3 + 13.1 + 10 + 9.5 = 50.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
49Le Merite Exports LtdLEMERITE 47.2/100Thin evidence · provisional40% evidence 18.9/35 Revenue — · PAT — · OPM change 0.9 pp 15% evidence 9.1/25 ROCE 8.6% · OPM 2.8% 71% evidence 9.3/20 P/E 87× · PEG — 15% evidence 9.9/20 RS sector -9% · RS bench 15% · 1Y 28.1%2 of 12 weeks ahead to 2026-05-17 70% evidence
Exact sum: 18.9 + 9.1 + 9.3 + 9.9 = 47.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
50Satani Bearings Ltd505703 45.2/100Thin evidence · provisional38% evidence TURNING 20.5/35 Revenue — · PAT 100% · OPM change — 33% evidence 4.7/25 ROCE 1% · OPM -3.7% 76% evidence 8.6/20 P/E 5197× · PEG — 15% evidence 11.4/20 RS sector — · RS bench 24.9% · 1Y 176.6%1 of 11 weeks ahead 25% evidence
Exact sum: 20.5 + 4.7 + 8.6 + 11.4 = 45.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
51Keto Motors Ltd537392 43.3/100Thin evidence · provisional38% evidence TURNING 16.3/35 Revenue — · PAT 100% · OPM change — 33% evidence 6.0/25 ROCE -0.3% · OPM 10.7% 76% evidence 8.5/20 P/E 7503× · PEG — 15% evidence 12.5/20 RS sector — · RS bench 272.8% · 1Y —4 of 4 weeks ahead 25% evidence
Exact sum: 16.3 + 6 + 8.5 + 12.5 = 43.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
52A-1 LtdA1L 41.0/100Thin evidence · provisional50% evidence 16.2/35 Revenue 8.3% · PAT -30.6% · OPM change -0.9 pp 53% evidence 10.7/25 ROCE 10.6% · OPM 2.9% 57% evidence 8.8/20 P/E 383× · PEG — 15% evidence 5.3/20 RS sector -24.5% · RS bench -16% · 1Y -8.6%6 of 12 weeks ahead to 2026-03-08 70% evidence
Exact sum: 16.2 + 10.7 + 8.8 + 5.3 = 41 · 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.

16 · Frequently asked questions

Frequently asked questions

What is MMTC Ltd's share price today?

MMTC Ltd trades at ₹61.9, −4.5% over the past year. The company is valued at ₹9,288 Cr. The stock sits at 38% of its 52-week range of ₹53–₹76, −3.6% versus its 200-day average. On the tape, the price is in a downtrend, 1 weeks in. — as of 11 September 2026.

What were MMTC Ltd's latest quarterly results?

MMTC Ltd reported revenue of ₹1.0 Cr and net profit of ₹104 Cr for the Jun 26 quarter. Revenue rose 0.0% and profit rose 136.4% year on year. Earnings per share were ₹0.69. The operating margin was −2,969.0%, 1,270.0 pp lower than a year earlier. — as of 11 September 2026.

What is MMTC Ltd's revenue?

MMTC Ltd reported revenue of ₹1.0 Cr in the Jun 26 quarter, +0.0% year on year. For the full FY26 fiscal year, revenue was ₹2.0 Cr (+100.0%). Over the last 10 years revenue compounded at −58.3% a year. — as of 11 September 2026.

What is MMTC Ltd's profit?

MMTC Ltd earned ₹104 Cr of net profit in the Jun 26 quarter, +136.4% year on year — the 5th straight quarter of growth. Full-year FY26 profit was ₹387 Cr. The operating margin ran −2,969.0% in the latest quarter. — as of 11 September 2026.

What is MMTC Ltd's market cap?

MMTC Ltd's market capitalisation is ₹9,288 Cr at a share price of ₹61.9. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is MMTC Ltd's P/E ratio?

MMTC Ltd trades at a P/E of 46.1×, at the 27th percentile of its own 8-year range, against a long-run median of 76.3×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does MMTC Ltd pay a dividend?

Not in its latest year — MMTC Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 2 of its last 13 reported fiscal years, so there is a history but no current dividend. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is MMTC Ltd overvalued?

On its own history, MMTC Ltd looks cheap: its P/E of 46.1× has been cheaper only 27% of the time in 8 years (long-run median 76.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is MMTC Ltd growing?

The picture is mixed for MMTC Ltd: latest-quarter revenue +0.0% year on year, profit +136.4%, and the margin −1,270.0 pp at −2,969.0%. The earnings engine currently reads: mixed — as of 11 September 2026.

How is MMTC Ltd performing?

MMTC Ltd is in a downtrend, 1 weeks in. Its latest quarter's revenue rose 0.0% and profit rose 136.4% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 10 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is MMTC Ltd in?

Mixed — no clean majority across the growth curves, ROCE holding at 9.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +0.0% latest, profit growth +356.1% latest, eps growth +358.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is MMTC Ltd in an uptrend?

No — the price is in a downtrend (week 1 of stage 4), trading −3.6% versus its 200-day average and at 38% 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 11 September 2026.

Is MMTC Ltd beating the market?

Not lately — on a trailing-13-week view MMTC Ltd is currently behind the NIFTY 500 (10 weeks and counting; last ahead the week of 2026-07-03), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +164% against the NIFTY 500's +267% — behind the index over the full window. — as of 11 September 2026.

Will MMTC Ltd's share price go up?

This page publishes no price forecast for MMTC Ltd. What it measures instead: the share price is ₹61.9, the price is in a downtrend 1 weeks in. Its P/E of 46.1× sits at the 27th percentile of its own 8-year range. Direction is not something this site claims to know. — as of 11 September 2026.

Who owns MMTC Ltd?

Promoters hold 89.9% of MMTC Ltd, foreign institutions 0.2%, domestic institutions 1.8% and the public 8.2% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.

Does MMTC Ltd have too much debt?

No — MMTC Ltd's debt-to-equity is 0.00, and operating profit covers the interest bill −181×. FY26 borrowings were ₹2.0 Cr against equity of ₹2,121 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.

What is MMTC Ltd's capex?

MMTC Ltd spent ₹−1.0 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 ₹0.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is MMTC Ltd's cash flow?

MMTC Ltd consumed ₹605 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−605 Cr). Operating cash was negative while the company reported a profit of ₹387 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is MMTC Ltd's profit real cash?

No — operating cash was negative over the last 3 fiscal years: MMTC Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−605 Cr against reported profit of ₹387 Cr. Cash-flow resolution is annual — as of 11 September 2026.

Where is MMTC Ltd in its business cycle?

MMTC Ltd's FY26 operating margin was −8,520.0%, against a 13-year band of −13,800.0%–3.9%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran −2,969.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What growth does MMTC Ltd's price assume?

At its price on 15 June 2026, MMTC Ltd was priced for profit growth of about 18.7% a year. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.

What could break the MMTC Ltd story?

The sharpest disagreement: annual EPS moved +344.8% against a −4.5% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is MMTC Ltd a stock worth studying right now?

This is not investment advice. The machine read: MMTC 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: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

Chat with this pageChat with pageChatChatGPTClaudePerplexityGoogle AI