MPS Ltd
MPSLTDMPS Ltd is strength at full price. The numbers are improving — and a P/E at the 85th percentile of its own range says the market knows.
The sharpest disagreement: the engine is strong, but at the 85th percentile of its own range you are paying full price for it.
The price is in a confirmed uptrend (8 weeks in) while the P/E sits at the 85th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +42.9% year on year, and 94% of the last 3 years' profit arrived as cash. What settles it: whether the earnings grow into the multiple.
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.
MPS Ltd trades at ₹2,609, in a confirmed uptrend and 8 weeks into that stage. That is +20.6% against its own 200-day average. It sits at 79% of a 52-week range of ₹1,393 to ₹2,931. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 13 straight weeks.
Today the stock is in a confirmed uptrend — week 8 of stage 2, confirmed. At ₹2,609 it trades +20.6% versus its 200-day average and sits at 79% of its 52-week range (₹1,393–₹2,931).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +298% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 13 straight weeks — 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.
Story check
MPS Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: Late Expansion / Multiple Elevated. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. MPS is an asset-light knowledge solutions and platform company undergoing operational leverage from AI automation and inorganic expansion into medical workflows, trading at a cycle-peak valuation where returns depend on delivering its ₹300 Cr FY27 EBITDA target.
What is proven. MPS is an asset-light knowledge solutions and platform company undergoing operational leverage from AI automation and inorganic expansion into medical workflows, trading at a cycle-peak valuation where returns depend on delivering its ₹300 Cr FY27 EBITDA target.
What is not proven yet. Consolidated EBITDA falling below ₹70 Cr in two consecutive quarters, or operating cash flow conversion (OCF/PAT) dropping below 0.70x, which would indicate that AI productivity gains are being competed away and pricing power is eroding.
🚨 What would change our mind. Consolidated EBITDA falling below ₹70 Cr in two consecutive quarters, or operating cash flow conversion (OCF/PAT) dropping below 0.70x, which would indicate that AI productivity gains are being competed away and pricing power is eroding.
Layer 1 read, 22 August 2026 — KEEP. Profit is up because the work got automated, not re-rated — the multiple is lower than two years ago. Over the last two years MPS grew trailing profit from Rs 120 Cr to Rs 188 Cr while the price-to-earnings multiple actually FELL from 35.8x to 27.1x, which means shareholders were paid by the business, not by a mood change. In the June 2026 quarter revenue rose 20.4% and profit 42.9% with operating profit at Rs 77 Cr on a 34% margin, and management explained the mechanism plainly — revenue up 20% on under 3% more staff, because AI does the production work. I checked the raw quarterly rows myself and other income was only Rs 3 Cr, so none of that profit is a one-off; the cash follows too, with FY26 operating cash flow at 1.14x profit. The one thing I am paying up for is a multiple at the…
What would change Layer 1’s mind. The Timeline says the thesis breaks if quarterly EBITDA falls below Rs 70 Cr twice running or cash conversion drops under 0.70x. Sharpened for this verdict: if the September 2026 quarter shows revenue growth slowing back toward the 10% TTM rate WHILE headcount rises faster than 3%, the AI operating-leverage mechanism is being competed away — that single observation flips this from P1 to P2, because the entire case rests on revenue outrunning people.
Layer 2 read, 22 August 2026 — ADVANCE. MPS is expensive, but outside evidence confirms that AI savings are already reaching operating profit. MPS grew revenue while headcount barely moved, and the sector's company-by-company work independently confirms the same operating-leverage mechanism. The 88.8th-percentile valuation remains soft model context, not cheapness [C002, ⚠ model context], but the profit gain is operating rather than other-income-led, so the P1 advances with a ranking cap.
What would change Layer 2’s mind. Flip to BENCH if MPS's quarterly revenue growth drops below 12% while operating margin stays high through lower selling or delivery spend, or if client renewals force AI savings back through pricing; that would turn operating leverage into harvesting.
Layer 3 read, 22 August 2026 — DEPLOY. No acute external risk surfaced; deploy small because acquisitions now carry more of the burden. The targeted social search returned only MPS share-price data, not evidence linking the financial-education warning to MPS. Hard delivery still supports the case, but the acquisition-funded capital shift, ⚠ high valuation, and PARTIAL Timeline with C015 excluded cap the position at 1.5%.
What would change Layer 3’s mind. The first acquired business that fails to earn its purchase cost within management's stated 12-month hurdle would flip DEPLOY to BENCH.
CIO read, 22 August 2026 — BENCH. NOT ADMITTED (incoming, benched) · forward-asymmetry 36/100 · CLEAR_NO_CONTEST. NO CONTEST — I judge deliverable EPS growth at 15%, about 0.2 points below the model's 15.2% requirement. The rating is already stretched at the 88th percentile, even though the latest profit is operating rather than one-off income.
The test written in advance. Consolidated EBITDA falling below ₹70 Cr in two consecutive quarters, or operating cash flow conversion (OCF/PAT) dropping below 0.70x, which would indicate that AI productivity gains are being competed away and pricing power is eroding. — the thesis as written as stated by the next result.
The test written in advance. Peak Earnings Valuation Trap and Multiple Sensitivity — Peak Earnings Valuation Trap and Multiple Sensitivity Consolidated quarterly OPM falling below 30.0% or YoY quarterly revenue growth decelerating below 12.0%. by the next result.
The test written in advance. M&A Execution and Capital Allocation Shift — M&A Execution and Capital Allocation Shift by the next result.
🚨 What the surface reading misses. The surface reading is: PE ratio of 27.1x at the 88.8th percentile of 10-year history indicates an expensive multiple with limited valuation buffer. The research reads it further: The high multiple is not a low-earnings cyclical artifact; normalized PE is also high at 28.3x (90th percentile) with operating margins at peak (34.3% vs 30.1% mid-cycle). The multiple represents a genuine market re-rating in response to 43.5% EPS growth over 8 quarters and AI-led platform transition.
🚨 What the surface reading misses. The surface reading is: Return on Capital Employed of 38.7% and ROE of 29.7% indicate exceptional capital profitability. The research reads it further: DuPont decomposition indicates ROCE is driven by high operating margins (31-34%) and asset turnover in an asset-light software/services model with minimal debt (D/E 0.09), rather than financial leverage. Capital employed includes ₹138 Cr cash and ₹15.18M Unbound goodwill.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
MPS Ltd reported ₹224 Cr of revenue in the Jun 26 quarter, +20.4% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at 11.6% a year. The last full year, FY26, came in at ₹768 Cr. The last four reported quarters add to ₹805 Cr.
Why this happened. The $15.18M acquisition of Unbound Medicine expands MPS into medical informatics and clinical decision support. Unbound brings 1,000+ institutional accounts (medical schools, nursing schools, hospitals) with 97% customer retention. Initial consolidation in Q1 FY27 delivered an $800,000 monthly revenue run rate at 18.0%-20.0% EBITDA margins (up from 14% standalone baseline). Management has 35 companies under evaluation with 2 live targets in the ₹300-500 Cr range.
FY26 revenue came in at ₹768 Cr (+5.6% on the year), capping 10 years at 11.6% compound. The latest quarter (Jun 26) printed ₹224 Cr, +20.4% year on year — the 2nd consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +9.9% growth against the decade's 11.6% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +10.0% over the last 4 quarters against +16.4%/yr over the last 8 — rolling over; TTM profit +19.0% vs +27.9%/yr — rolling over.
FY26-Q4. revenue ₹205 Cr and profit ₹47 Cr as reported.
FY27-Q1. revenue ₹224 Cr and profit ₹50 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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.
MPS Ltd's operating margin is 34.0% in the Jun 26 quarter, +7.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 24.0% to 36.0%. The current quarter sits inside that band.
Why this happened. MPS has deployed live AI tooling across its delivery stack rather than running speculative pilot projects. In Research Solutions, automated alt-text generation, one-touch production workflows, and automated quality checks have allowed volume throughput to expand without a proportional cost increase. In Corporate Learning, the shift to AI-assisted authoring and gig capacity permitted a 33% headcount reduction while expanding EBITDA margin to 25.3%. Operating leverage is confirmed by revenue growing 20.0% while headcount increased less than 3.0%.
The latest quarter's operating margin is 34.0%, +7.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 24.0%–36.0%.
Why the margin moved: operating margin went +7.3 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
FY26-Q4. revenue ₹205 Cr and profit ₹47 Cr as reported.
FY27-Q1. revenue ₹224 Cr and profit ₹50 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
MPS Ltd earned ₹50.0 Cr of net profit in the Jun 26 quarter, +42.9% year on year. Full-year FY26 profit was ₹173 Cr. The 10-year compound rate is 9.3%. That is 22.3% of the quarter's revenue. The same quarter a year earlier earned ₹35.0 Cr.
Jun 26 profit was ₹50.0 Cr, +42.9% year on year. On the full year, FY26 printed ₹173 Cr (+16.1%), and the 10-year compound rate is 9.3%.
Why profit moved: revenue contributed +20.4% and the margin +7.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +22.0% vs revenue +9.9%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹205 Cr and profit ₹47 Cr as reported.
FY27-Q1. revenue ₹224 Cr and profit ₹50 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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 94% of MPS Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹197 Cr of operating cash against ₹173 Cr of profit. After ₹222 Cr of capital spending, ₹−25.0 Cr was left as free cash.
FY26: operating cash of ₹197 Cr against reported profit of ₹173 Cr, leaving free cash of ₹−25.0 Cr after ₹222 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 94% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 94%: the cash cycle tightened 15 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 5.9× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
MPS Ltd's cash conversion cycle runs 63 days in FY26, down from 78 days in FY21. Capital spending ran ₹442 Cr over the last 3 years. At FY26 sales of ₹768 Cr each day of that cycle holds about ₹2.1 Cr, so roughly ₹133 Cr sits inside the business at any moment.
FY26: debtors at 63 days (an asset-light business — no inventory to speak of) — for a full cycle of 63 days, tighter than FY21's 78.
In money terms: at FY26 sales of ₹768 Cr, each day of the cycle holds about ₹2.1 Cr — so the 63-day loop keeps roughly ₹133 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹442 Cr over the last 3 fiscal years against ₹75.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
MPS Ltd earns a ROCE of 39% in FY26. That is up from a trough of 17% in FY20. Return on invested capital clears the cost of that capital by +20.5 percentage points, so growth here adds value rather than only size. The wiring behind it is 22.5% net margin on 0.84× asset turns.
FY26 ROCE is 39%, recovered from a FY20 trough of 17% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 22.5% net margin × 0.84× asset turns × 1.53× balance-sheet leverage ≈ 28.9% 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 +20.5 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. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
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.
MPS Ltd carries total debt of ₹61.0 Cr against shareholder equity of ₹596 Cr as of Jun 26, a debt-to-equity of 0.10 — effectively unlevered. On the annual view that ratio went from 0.03 in FY22 to 0.10 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹61.0 Cr against shareholder equity of ₹596 Cr — a debt-to-equity of 0.10. On the annual view, debt-to-equity went from 0.03 (FY22) to 0.10 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions cut 2.1 points of MPS Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 1.4% of the company. Domestic institutions moved +1.8 points over the same window, to 2.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: −2.1 points over 8 quarters to 1.4%; Domestic institutions: +1.8 points over 8 quarters to 2.1%; Promoters: +0.0 points over 8 quarters to 68.3%.
Why the register moved: rotation — foreign institutions −2.1 points against domestic institutions +1.8 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
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.
MPS 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.
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.
MPS Ltd trades at 24.4× P/E, at the pricey end of its own range (85th percentile). Its long-run median P/E is 16.6×, measured across 10.6 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 24.4× is at the pricey end of its own range (85th percentile), against a long-run median of 16.6× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +16.3% against a +19.7% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +29.5%/yr price move, ~+24.1%/yr came from earnings growth and ~+5.4 pp from the multiple (expanding); over 10y, of the +14.5%/yr price move, ~+10.5%/yr came from earnings growth and ~+4.0 pp from the multiple (expanding). 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.
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 26 August 2026 price, MPS Ltd was paying for profit growth of about 15.2% a year. Profit itself has compounded 9.3% a year over the past 10 years. Today the market pays 24.4× P/E, the 85th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is above what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 26 August 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.
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).
MPS Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE slipping at 41.0% — the per-curve reads carry the story. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +5.6% | +15.3% | +12.7% | +11.6% |
| Profit | +16.1% | +16.6% | +24.0% | +9.3% |
| EPS | +16.3% | +16.6% | +25.6% | +10.2% |
| Share price | +19.7% | +20.3% | +29.5% | +14.5% |
4-Factor Sector Score
64.5/100 — rank 2 of 13 in E-Commerce - Platform - Utility · 94% evidence confidence
MPS Ltd scores 64.5 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 2. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 20.7 + 22 + 12.9 + 8.9 = 64.5. 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.
Said versus delivered
What MPS Ltd's management promised, set against what actually arrived — 4 tracked 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.
Acceptance Metric Changed · 22 July 2026. In May 2026, management described 52% as a manuscript acceptance lift versus a 32% industry baseline. In July 2026, management described 52% as the absolute acceptance rate against the same baseline, which is a materially different performance metric that should be reconciled.
Unbound Synergy Timeline Became Less Defined · 22 July 2026. The February 2026 call presented a clear integration roadmap and a path to EBITDA uplift through shared infrastructure and MPS Labs. May 2026 still characterized the integration thesis as intact, but July 2026 said management would not commit to synergy timelines and that cross-sell efforts were only in the early stages, reducing visibility into the acquisition's expected timing of benefits.
Dividend and Capital Allocation Pivot · 18 May 2026. In the Feb 2026 call, management explicitly stated they were comfortable with the debt levels following the Unbound acquisition and intended to continue distributing capital through dividends. However, in the May 2026 call, the board decided not to recommend a final dividend, citing that deployment opportunities now exceed cash on hand, despite having significant unused debt capacity and cash balances previously described as comfortable.
Unbound Medicine Margin Timeline Delay · 18 May 2026. During the Feb 2026 call, management projected that Unbound Medicine margins would reach the early 20 percent range as soon as the second quarter of FY27. In the latest May 2026 call, the guidance was revised downward for that period, with management now stating that the margin will remain at the mid-teens level for the first couple of quarters of FY27 before attempting to reach higher levels later in the year.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Creative Newtech LtdCNL | 70.7/100Favorable setup87% evidence | LEADER | 28.2/35 Revenue 49.2% · PAT 37% · OPM change 2 pp 95% evidence | 12.2/25 ROCE 18.8% · OPM 5% 95% evidence | 10.3/20 P/E 22.8× · PEG — 50% evidence | 20.0/20 RS sector 29.6% · RS bench 51.2% · 1Y 75.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.2 + 12.2 + 10.3 + 20 = 70.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2MPS Ltdthis pageMPSLTD | 64.5/100Mixed-positive evidence94% evidence | BREAKING OUT | 20.7/35 Revenue 10% · PAT 19% · OPM change 7 pp 100% evidence | 22.0/25 ROCE 38.7% · OPM 34% 100% evidence | 12.9/20 P/E 24.4× · PEG 0.43 100% evidence | 8.9/20 RS sector -13.2% · RS bench 31.1% · 1Y 16.1%10 of 10 weeks ahead 70% evidence |
| Exact sum: 20.7 + 22 + 12.9 + 8.9 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3MSTC LtdMSTCLTD | 58.3/100Mixed-positive evidence76% evidence | BREAKING OUT | 18.8/35 Revenue 21% · PAT -42.9% · OPM change 5 pp 95% evidence | 20.1/25 ROCE 30.3% · OPM 61% 76% evidence | 9.1/20 P/E 22.2× · PEG — 50% evidence | 10.3/20 RS sector -5.3% · RS bench 42.9% · 1Y 47.5%10 of 10 weeks ahead 70% evidence |
| Exact sum: 18.8 + 20.1 + 9.1 + 10.3 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4RNFI Services LtdRNFI | 58.3/100Mixed-positive evidence74% evidence | TURNING | 19.7/35 Revenue 6.5% · PAT 34.1% · OPM change -0.8 pp 95% evidence | 16.1/25 ROCE 27.3% · OPM 3.9% 95% evidence | 10.1/20 P/E 30.3× · PEG — 15% evidence | 12.4/20 RS sector 2.6% · RS bench 14.8% · 1Y 12.4%2 of 10 weeks ahead 70% evidence |
| Exact sum: 19.7 + 16.1 + 10.1 + 12.4 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Macfos Ltd543787 | 56.8/100Mixed-positive evidence75% evidence | FADING | 16.8/35 Revenue 21.1% · PAT 43.1% · OPM change -1.9 pp 95% evidence | 18.5/25 ROCE 34.2% · OPM 10.6% 76% evidence | 9.9/20 P/E 43.2× · PEG — 15% evidence | 11.6/20 RS sector 5.2% · RS bench 24.6% · 1Y 64.6%8 of 12 weeks ahead 100% evidence |
| Exact sum: 16.8 + 18.5 + 9.9 + 11.6 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Indiamart Intermesh LtdINDIAMART | 55.4/100Mixed-positive evidence100% evidence | ASLEEP | 16.9/35 Revenue 12.7% · PAT -16.6% · OPM change 0 pp 100% evidence | 19.8/25 ROCE 28% · OPM 32% 100% evidence | 18.7/20 P/E 20.7× · PEG 0.68 100% evidence | 0.0/20 RS sector -30.9% · RS bench -18.6% · 1Y -33.7%0 of 12 weeks ahead 100% evidence |
| Exact sum: 16.9 + 19.8 + 18.7 + 0 = 55.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Pine Labs LtdPINELABS | 55.4/100Mixed-positive evidence63% evidence | BREAKING OUT | 28.9/35 Revenue 19.5% · PAT 100% · OPM change 6 pp 100% evidence | 7.7/25 ROCE 4.2% · OPM 13% 100% evidence | 8.8/20 P/E 180× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —4 of 10 weeks ahead 0% evidence |
| Exact sum: 28.9 + 7.7 + 8.8 + 10 = 55.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8One 97 Communications LtdPAYTM | 53.6/100Mixed-positive evidence87% evidence | BREAKING OUT | 26.1/35 Revenue 22.6% · PAT 100% · OPM change 4.2 pp 100% evidence | 5.1/25 ROCE 5% · OPM 8% 100% evidence | 6.3/20 P/E 143× · PEG 2.42 65% evidence | 16.1/20 RS sector 12.8% · RS bench 47% · 1Y 44.1%9 of 10 weeks ahead 70% evidence |
| Exact sum: 26.1 + 5.1 + 6.3 + 16.1 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Info Edge (India) LtdNAUKRI | 50.7/100Mixed-positive evidence75% evidence | BREAKING OUT | 21.7/35 Revenue 13.8% · PAT 37.1% · OPM change 6 pp 95% evidence | 9.8/25 ROCE 3.5% · OPM 39% 76% evidence | 9.6/20 P/E 55× · PEG — 15% evidence | 9.6/20 RS sector -8.1% · RS bench 7.2% · 1Y -7.1%10 of 12 weeks ahead 100% evidence |
| Exact sum: 21.7 + 9.8 + 9.6 + 9.6 = 50.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10TBO Tek LtdTBOTEK | 45.9/100Mixed-negative evidence87% evidence | BREAKING OUT | 17.0/35 Revenue 69% · PAT 14.2% · OPM change 1 pp 100% evidence | 14.1/25 ROCE 18.3% · OPM 15% 100% evidence | 4.3/20 P/E 67.8× · PEG 6.18 65% evidence | 10.5/20 RS sector -2.5% · RS bench 17.1% · 1Y 8.9%10 of 10 weeks ahead 70% evidence |
| Exact sum: 17 + 14.1 + 4.3 + 10.5 = 45.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Just Dial LtdJUSTDIAL | 33.9/100Adverse evidence87% evidence | BREAKING OUT | 6.6/35 Revenue 7.3% · PAT -16.6% · OPM change -2 pp 100% evidence | 10.5/25 ROCE 7% · OPM 27% 100% evidence | 11.1/20 P/E 10.9× · PEG 1.83 65% evidence | 5.7/20 RS sector -20.6% · RS bench 3.5% · 1Y -18.9%9 of 10 weeks ahead 70% evidence |
| Exact sum: 6.6 + 10.5 + 11.1 + 5.7 = 33.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12One Mobikwik Systems LtdMOBIKWIK | 31.8/100Adverse evidence66% evidence | TURNING | 16.1/35 Revenue 2.7% · PAT 92% · OPM change 18.1 pp 71% evidence | 2.2/25 ROCE -2.3% · OPM 2.9% 95% evidence | 8.5/20 P/E 562× · PEG — 15% evidence | 5.0/20 RS sector -13.8% · RS bench -2% · 1Y -28.6%2 of 10 weeks ahead 70% evidence |
| Exact sum: 16.1 + 2.2 + 8.5 + 5 = 31.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Urban Company LtdURBANCO | 28.8/100Adverse evidence65% evidence | BREAKING OUT | 7.3/35 Revenue 39.6% · PAT -80% · OPM change -14.4 pp 100% evidence | 0.5/25 ROCE -7.8% · OPM -18% 100% evidence | 10.0/20 P/E — · PEG — 0% evidence | 11.0/20 RS sector — · RS bench 23.9% · 1Y -9.7%5 of 10 weeks ahead 25% evidence |
| Exact sum: 7.3 + 0.5 + 10 + 11 = 28.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is MPS Ltd's share price today?
MPS Ltd trades at ₹2,609, +19.7% over the past year. The company is valued at ₹4,462 Cr. The stock sits at 79% of its 52-week range of ₹1,393–₹2,931, +20.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 8 weeks in. — as of 11 September 2026.
What were MPS Ltd's latest quarterly results?
MPS Ltd reported revenue of ₹224 Cr and net profit of ₹50.0 Cr for the Jun 26 quarter. Revenue rose 20.4% and profit rose 42.9% year on year. Earnings per share were ₹29.46. The operating margin was 34.0%, 7.0 pp higher than a year earlier. — as of 11 September 2026.
What is MPS Ltd's revenue?
MPS Ltd reported revenue of ₹224 Cr in the Jun 26 quarter, +20.4% year on year. For the full FY26 fiscal year, revenue was ₹768 Cr (+5.6%). Over the last 10 years revenue compounded at 11.6% a year. — as of 11 September 2026.
What is MPS Ltd's profit?
MPS Ltd earned ₹50.0 Cr of net profit in the Jun 26 quarter, +42.9% year on year. Full-year FY26 profit was ₹173 Cr. The operating margin ran 34.0% in the latest quarter. — as of 11 September 2026.
What is MPS Ltd's market cap?
MPS Ltd's market capitalisation is ₹4,462 Cr at a share price of ₹2,609. 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 MPS Ltd's P/E ratio?
MPS Ltd trades at a P/E of 24.4×, at the 85th percentile of its own 11-year range, against a long-run median of 16.6×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does MPS Ltd pay a dividend?
Not in its latest year — MPS Ltd's dividend payout was 0% of profit in FY26. It did record a payout in 10 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 MPS Ltd overvalued?
On its own history, MPS Ltd looks expensive: its P/E of 24.4× sits at the 85th percentile of its 11-year range (long-run median 16.6×). 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 MPS Ltd growing?
Yes — MPS Ltd is growing: latest-quarter revenue +20.4% year on year, profit +42.9%, and the margin +7.0 pp at 34.0%. The 10-year compound rates are 11.6% (revenue) and 9.3% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is MPS Ltd performing?
MPS Ltd is in a confirmed uptrend, 8 weeks in. Its latest quarter's revenue rose 20.4% and profit rose 42.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 13 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is MPS Ltd in?
Mixed — no clean majority across the growth curves, ROCE slipping at 41.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +10.0% latest, profit growth +19.0% latest, eps growth +19.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is MPS Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 8 of stage 2), trading +20.6% versus its 200-day average and at 79% 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 MPS Ltd beating the market?
On recent form, yes — MPS Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 13 straight weeks, 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 +298% against the NIFTY 500's +267% — ahead of the index over the full window. — as of 11 September 2026.
Will MPS Ltd's share price go up?
This page publishes no price forecast for MPS Ltd. What it measures instead: the share price is ₹2,609, the price is in a confirmed uptrend 8 weeks in. Its P/E of 24.4× sits at the 85th percentile of its own 11-year range. — as of 11 September 2026.
Who owns MPS Ltd?
Promoters hold 68.3% of MPS Ltd, foreign institutions 1.4%, domestic institutions 2.1% and the public 27.3% (latest quarter). The biggest move on the register over the last two years: Foreign institutions cut 2.1 points over 8 quarters. — as of 11 September 2026.
Does MPS Ltd have too much debt?
No — MPS Ltd's debt-to-equity is 0.10, and operating profit covers the interest bill north of 100×. FY26 borrowings were ₹61.0 Cr against equity of ₹596 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is MPS Ltd's capex?
MPS Ltd spent ₹442 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 ₹222 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is MPS Ltd's cash flow?
MPS Ltd generated ₹197 Cr of operating cash flow in FY26 and ₹−25.0 Cr of free cash flow after ₹222 Cr of capital spending. Reported profit that year was ₹173 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is MPS Ltd's profit real cash?
Yes — over the last 3 fiscal years, 94% of MPS Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹197 Cr against reported profit of ₹173 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is MPS Ltd in its business cycle?
MPS Ltd's FY26 operating margin was 31.0%, against a 13-year band of 24.0%–36.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 34.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does MPS Ltd's price assume?
At its price on 26 August 2026, MPS Ltd was priced for profit growth of about 15.2% a year. Profit itself has compounded 9.3% a year over the past 10 years. 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 MPS Ltd story?
The sharpest disagreement: the engine is strong, but at the 85th percentile of its own range you are paying full price for it. 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 MPS Ltd a stock worth studying right now?
This is not investment advice. The machine read: MPS Ltd is strength at full price. The numbers are improving — and a P/E at the 85th percentile of its own range says the market knows. The sharpest open question: whether the earnings grow into the multiple. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!