# MPS share price today (MPS Ltd, NSE: MPSLTD)

> MPS share price today: ₹2,350.50 at the NSE close on 3 November 2026, up 8.2% in a year. MPS (NSE: MPSLTD) is worth ₹4,020 crore, trades at a P/E of 22.0 and has closed between ₹1,392.60 and ₹2,931.20 over the past 52 weeks. > MPS Ltd's earnings have grown faster than its share price. Earnings per share grew +16.3% in a year while the price moved +8.2%. MPSLTD · E-Commerce - Platform - Utility · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/mps-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹2,350.50 (+8.2% in a year)
- P/E: 22.0× (higher than 79% of the last 11 years)
- Revenue (Jun 2026): ₹224 Cr (+20.4% on a year ago)
- Profit (Jun 2026): ₹50.0 Cr (+42.9% on a year ago)
- Operating margin: 34.0% (+7.0 points on a year ago)
- ROCE: 39%, FY26
- ROIC: 32.5%, against a 12.0% cost of capital: +20.5 points

Biggest thing to watch: the P/E is higher than 79% of its own history, so the multiple has already done part of the work. ## What is the MPS share price today? MPS Ltd's share price was ₹2,350.50 at the close on 3 November 2026. It has been rising for 15 weeks. That is 4.0% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,393 and ₹2,931, and at that close it sat 62% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 4 weeks running. Over the last 11 years the share price moved +258% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 9 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at MPS this quarter? 1. Best operating margin in 13 quarters Operating margin was 34% in the June 2026 quarter, against 27% a year earlier. Why: Margins rose because revenue grew much faster than staff numbers, so the same team handled more work. Next results: check second quarter operating profit and margin against the FY27 floor of Rs 300 crore. From the earnings call on 22 Jul 2026. 3. Highest quarterly revenue in 15 quarters Revenue of ₹224 crore in the June 2026 quarter is the highest of the last 15 quarters. Why: Revenue hit a record because education work grew strongly, helped by Unbound's first full quarter and more content, accessibility and AI learning projects. Next results: check whether the AJE business settles and whether early peer review demand turns into more research revenue. From the earnings call on 22 Jul 2026. ## What are MPS' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), MPS reported revenue of ₹224 crore, up 20.4% from ₹186 crore a year earlier, and a profit of ₹50.0 crore, up 42.9% from ₹35.0 crore. ### MPS results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹224 crore | ₹186 crore | +20.4% |
| Profit | ₹50.0 crore | ₹35.0 crore | +42.9% |
| Earnings per share | ₹29.46 | ₹20.60 | +43.0% |
| Operating margin | 34.0% | 27.0% | +7.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). MPS' management discussed these results on a call held on 22 July 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the MPS share price history? MPS closed at ₹2,350.50 on 3 November 2026, up 8.2% from ₹2,172.80 a year earlier (31 October 2025) and up 226.0% over five years. Its highest weekly close since March 2016 was ₹2,931.20 on 7 August 2026. ### MPS share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹2,333.85 | +0.7% |
| 1 month ago · 1 Oct 2026 | ₹2,627.30 | −10.5% |
| 6 months ago · 30 Apr 2026 | ₹1,657.70 | +41.8% |
| 1 year ago · 31 Oct 2025 | ₹2,172.80 | +8.2% |
| 3 years ago · 3 Nov 2023 | ₹1,533.95 | +53.2% |
| 5 years ago · 4 Nov 2021 | ₹721.00 | +226.0% |
| 10 years ago · 4 Nov 2016 | ₹665.05 | +253.4% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹655.65 | +258.5% |
| Highest weekly close since March 2016, also the 52-week high · 7 Aug 2026 | ₹2,931.20 | −19.8% |
| Lowest weekly close since March 2016 · 20 Mar 2020 | ₹191.15 | +1,129.7% |
| 52-week low (weekly close) · 6 Mar 2026 | ₹1,392.60 | +68.8% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (561 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on MPS? 3 Nov 2026: MPS closed at ₹2,350.50, up 0.7% on the week and down 10.5% on the month. 22 Jul 2026: MPS held its results call for April to June 2026. Management guided: FY27 consolidated operating profit to comfortably cross ₹300 crore.0% three-year operating profit yearly growth from FY24 to FY27. ### Earlier

- Results for April to June 2026: Revenue up 20.4% and profit up 42.9% on a year earlier. ## What dividend does MPS pay? MPS paid no dividend in the 12 months to 4 November 2026. The last was a dividend of ₹50 a share, ex-date 13 August 2025. ### MPS dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 13 Aug 2025 | ₹50 | Dividend |
| 29 Jan 2025 | ₹33 | Interim |
| 1 Aug 2024 | ₹45 | Dividend |
| 6 Nov 2023 | ₹30 | Interim |
| 24 Jul 2023 | ₹20 | Dividend |
| 17 Jun 2022 | ₹30 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. MPS Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 10 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 4 November 2026.)

## What did MPS management say on the latest results call? On the call for April to June 2026, held on 22 July 2026, MPS' management guided: FY27 consolidated operating profit to comfortably cross ₹300 crore.0% three-year operating profit yearly growth from FY24 to FY27. > “We run MPS on one principle when it comes to AI: it should show up in our revenue, not on slides.”
> Rahul Arora, Chairman and CEO, on the call for April to June 2026

### What management guided

- MPS is hopeful of clearing the Rule of 50 for full-year FY27 but will not promise that every quarter clears the threshold. - FY28 revenue of ₹1,500 crore and operating profit of more like ₹450 crore. - Corporate learning steady-state goal is 30.0% operating margin with 10.0%-12.0% organic growth, driven by AI-enabled immersive solutions, account depth, and operating leverage. - Unbound margins are expected to rise from the current 18.0%-20.0% range toward a mid-20s to late-20s operating margin for Rule of 40, with an eventual Rule of 50 ambition. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/4431/Conference Call/CC-Jul26.pdf). (From the call for April to June 2026, 22 July 2026.)

## What could change the MPS story? What are the risks? Consolidated operating profit falling below ₹70 Cr in two consecutive quarters, or operating cash flow conversion (operating cash flow/profit) dropping below 0.70x, which would indicate that AI productivity gains are being competed away and pricing power is eroding. ### Each change stops working if

- : Academic publishing houses build proprietary in-house verification layers or paper-mill detection models become open-source commodities. - : Unbound renewal rates drop below 90% or cross-sales into Liberate and corporate learning fails to scale past early discussions. - : Enterprise discretionary L&D budgets face macro contraction or organic growth fails to accelerate toward the 10.0%-12.0% goal from current 6.9%. ### The main risks

- : Board decision to withhold final FY26 dividend to fund a 35-company M&A pipeline shifts shareholder return profile from high dividend payout to inorganic execution risk. ⚠ estimate
- : Unbound Medicine margin progression to the 25-30% company average has become less defined in concall commentary, remaining at 18-20% in April to June 2026. ⚠ estimate
- : Corporate Learning organic revenue growth of 6.9% in April to June 2026 lags behind the broader enterprise learning market growth rate of 12-13%. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in MPS' next results? When MPS reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Q2 consolidated operating profit and margin pace against the FY27 ₹300 crore floor; management expects the second half to outrun the first, so quarterly performance should remain ahead of a straight-line path. - What to check (from the call)
- Q2 consolidated operating profit and margin pace against the FY27 ₹300 crore floor; management expects the second half to outrun the first, so quarterly performance should remain ahead of a straight-line path. - AJE stabilization and pre-submission peer review conversion, including whether demand ahead of plan supports continued research growth and progress toward becoming the largest provider by volume. - Corporate learning organic growth and margin: current 6.9% revenue growth and 25.3% margin need to move toward the stated 10.0%-12.0% growth and 30.0% steady-state margin. - Unbound renewal pricing, monthly run rate, and margins: monitor whether the $800,000 monthly run rate and 18.0%-20.0% margin improve as MPS learns the renewal cycle and cross-supplies Liberate. ## Which stock lists is MPS on? MPS is not on any of our India lists this week. ## Is MPS profitable? MPS Ltd earned ₹50.0 Cr of net profit in the Jun 2026 quarter, +42.9% on the same quarter a year earlier. Full-year FY26 profit was ₹173 Cr. Over 10 years profit has grown 9.3% a year on average. That is 22.3% of the quarter's revenue. The same quarter a year earlier earned ₹35.0 Cr. For the full year, FY26 profit was ₹173 Cr (+16.1% on the year before). Why profit moved: revenue changed +20.4% on a year earlier and the margin moved +7.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +22.0% and revenue +9.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. 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. ## How much revenue does MPS make, and is it growing? MPS Ltd reported ₹224 Cr of revenue in the Jun 2026 quarter, +20.4% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 11.6% a year on average. The last full year, FY26, came in at ₹768 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 goals in the ₹300-500 Cr range. The last four reported quarters add to ₹805 Cr. FY26 revenue was ₹768 Cr, +5.6% on the year before. Recent pace: the last four quarters grew +9.9% on average, against 11.6% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +10.0%, against +16.4% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +19.0%, against +27.9% a year (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. ## How much of every ₹100 of sales does MPS keep? MPS Ltd's operating margin was 34.0% in the Jun 2026 quarter, 7.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 24.0% and 36.0%. The latest quarter is within that range. 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%. Why the margin moved: operating margin changed +7.3 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. 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. ## Is MPS' profit turning into cash? Over the last 3 years, 94% of MPS Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹197 Cr of operating cash against ₹173 Cr of profit. After ₹222 Cr of spending on assets, free cash was −₹25.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 94% of profit came in as cash: the cash cycle got 15 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 5.9× depreciation over three years. The next section checks what that spending is building. ## Where does MPS' cash go? MPS Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 63 days in FY26, down from 78 days in FY21. It spent ₹442 Cr on assets over the last 3 years. At FY26 sales of ₹768 Cr, each day of that cycle ties up about ₹2.1 Cr, so roughly ₹133 Cr is tied up in the business at any time. Spending on assets: ₹442 Cr over the last 3 years, against ₹75.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is MPS' P/E ratio, and how does it compare with its own history? MPS Ltd's P/E is 22.0×, near the high end of its own history: higher than 79% of past readings. Its usual P/E (the middle reading) is 16.6×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹110.12. Why the multiple is where it is: over the past year earnings per share moved +16.3% while the price moved +8.2%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +26.7% a year; about +21.2% a year came from earnings growth and about +5.5 percentage points from the multiple (the market paying more); over 10 years the price moved +13.5% a year; about +10.1% a year came from earnings growth and about +3.4 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the MPS share price assume? Worked out from its price on 26 August 2026, MPS Ltd's share price assumed profit growth of about 15.2% a year. Over the past 10 years its profit actually grew 9.3% a year. Today its P/E is 22.0×, higher than 79% of its own last 11 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the MPS business getting better or worse? MPS Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE falling at 41.0%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the MPS story, and has it been checked? MPS Ltd's story is not scored yet against the checks our research set on 22 August 2026. Our read, 22 August 2026. What is proven. 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. 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. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. M&A Execution and Capital Allocation Shift. Measured by: M&A Execution and Capital Allocation Shift by the next result. What the surface reading misses. 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 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did MPS management deliver what it promised? What MPS Ltd's management promised, against what actually happened: 4 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-sales 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. ## What is MPS management's track record? No company-specific action surfaced, but the returned negative hits were unrelated and do not prove a clean enforcement history. Sources:

- [trendlyne.com](https://trendlyne.com/research-reports/stock/882/MPSLTD/mps-ltd/)
- [sebi.gov.in](https://www.sebi.gov.in/enforcement/orders.html)
- [bseindia.com](https://www.bseindia.com/stock-share-price/mps-ltd/mpsltd/532440/corp-announcements)

(Checked 30 August 2026.)

## How much does MPS earn on its capital? MPS Ltd earned a ROCE of 39% in FY26. That is up from a low of 17% in FY20. Its return on capital used (ROIC) is 20.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 22.5% net margin and 0.84× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 22.5% net margin × 0.84× asset turnover × 1.53× leverage (assets divided by equity) ≈ 28.9% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 32.5% − 12.0% = +20.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 32.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 34.0%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does MPS have too much debt? MPS Ltd has total debt of ₹61.0 Cr against shareholder equity of ₹596 Cr as of Jun 2026, so its debt is 0.10× its equity, which is very little. Year by year, that ratio went from 0.03 in FY22 to 0.10 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the MPS shareholding pattern? Domestic institutions raised their stake in MPS Ltd by 1.8 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 2.1% of the company. Foreign institutions moved −1.2 points over the same period, to 1.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +1.8 points over 8 quarters, to 2.1%; Foreign institutions: −1.2 points over 8 quarters, to 1.5%; Promoters: +0.0 points over 8 quarters, to 68.3%. Why the owners changed: domestic institutions drove it (+1.8 points), with the other side taken by foreign institutions (−1.2 points). They raised their stake step by step. ## How far is MPS from balance-sheet trouble? For MPS Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does MPS rank in its industry? 66.9 out of 100, rank 1 of 13 in E-Commerce - Platform - Utility, with 81% of the evidence available. MPS Ltd scores 66.9 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 20.9 + 20.9 + 13.5 + 11.6 = 66.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is MPS compared with? MPS ranks 1 of 13 E-Commerce - Platform - Utility companies on the 4-Factor Sector Score, with 66.9 out of 100. 1. MPS Ltd this page MPSLTD · losing its lead · Most evidence points up · 81% evidence 66.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.9/35 · Revenue 10% · Profit 19% · Operating margin change 7 points · 88% evidence Capital efficiency 20.9/25 · ROCE 38.7% · Operating margin 34% · 100% evidence Valuation 13.5/20 · P/E 21.7× · PEG 0.61 · 100% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 18.4% · 1 year 6.8% · 25% evidence · 10 of 12 weeks ahead Exact sum: 20.9 + 20.9 + 13.5 + 11.6 = 66.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Creative Newtech Ltd](https://www.sectoralpha.in/stocks/creative-newtech-ltd) CNL · leader · Evidence leans up · 82% evidence 61.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.6/35 · Revenue 36.4% · Profit 35% · Operating margin change 1.5 points · 95% evidence Capital efficiency 14.2/25 · ROCE 18.8% · Operating margin 5% · 76% evidence Valuation 11.2/20 · P/E 20.7× · PEG n/a · 50% evidence Relative strength 14.0/20 · Lead over its industry 30.8% · Lead over NIFTY 500 44.1% · 1 year 60% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.6 + 14.2 + 11.2 + 14 = 61 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Macfos Ltd](https://www.sectoralpha.in/stocks/macfos-ltd) turning · Evidence leans up · 80% evidence 60.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.0/35 · Revenue 28.5% · Profit 40.5% · Operating margin change 0.6 points · 95% evidence Capital efficiency 18.2/25 · ROCE 33.8% · Operating margin 11.7% · 95% evidence Valuation 9.9/20 · P/E 41× · PEG n/a · 15% evidence Relative strength 13.4/20 · Lead over its industry 12.5% · Lead over NIFTY 500 26.2% · 1 year 64.7% · 100% evidence · 3 of 12 weeks ahead Exact sum: 19 + 18.2 + 9.9 + 13.4 = 60.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [MSTC Ltd](https://www.sectoralpha.in/stocks/mstc-ltd) MSTCLTD · quiet · Evidence leans up · 63% evidence 58.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.3/35 · Revenue 21% · Profit -42.9% · Operating margin change 5 points · 83% evidence Capital efficiency 20.1/25 · ROCE 30.3% · Operating margin 61% · 76% evidence Valuation 10.0/20 · P/E 16.1× · PEG n/a · 50% evidence Relative strength 9.3/20 · Lead over its industry n/a · Lead over NIFTY 500 3.9% · 1 year -1% · 25% evidence · 8 of 12 weeks ahead Exact sum: 19.3 + 20.1 + 10 + 9.3 = 58.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Pine Labs Ltd](https://www.sectoralpha.in/stocks/pine-labs-ltd) PINELABS · breaking out · Evidence leans up · 63% evidence 58.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 35.5/43.75 · Revenue 21.1% · Profit 100% · Operating margin change 4 points · 100% evidence Capital efficiency 11.7/31.25 · ROCE 4.2% · Operating margin 16% · 100% evidence Valuation 11.3/25 · P/E 109× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 35.5 + 11.7 + 11.3 = 58.5 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 6. [One 97 Communications Ltd](https://www.sectoralpha.in/stocks/one-97-communications-ltd) PAYTM · leader · Evidence leans up · 68% evidence 54.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.1/35 · Revenue 23.8% · Profit 100% · Operating margin change 3 points · 100% evidence Capital efficiency 6.3/25 · ROCE 5% · Operating margin 10% · 100% evidence Valuation 8.8/20 · P/E 125× · PEG n/a · 15% evidence Relative strength 12.2/20 · Lead over its industry n/a · Lead over NIFTY 500 31.1% · 1 year 25.4% · 25% evidence · 12 of 12 weeks ahead Exact sum: 27.1 + 6.3 + 8.8 + 12.2 = 54.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Indiamart Intermesh Ltd](https://www.sectoralpha.in/stocks/indiamart-intermesh-ltd) INDIAMART · quiet · Evidence leans up · 100% evidence 54.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.8/35 · Revenue 12% · Profit -7% · Operating margin change 4 points · 100% evidence Capital efficiency 19.0/25 · ROCE 28% · Operating margin 34% · 100% evidence Valuation 19.5/20 · P/E 17.8× · PEG 0.68 · 100% evidence Relative strength 0.0/20 · Lead over its industry -30.9% · Lead over NIFTY 500 -22% · 1 year -39.5% · 100% evidence · 0 of 12 weeks ahead Exact sum: 15.8 + 19 + 19.5 + 0 = 54.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [RNFI Services Ltd](https://www.sectoralpha.in/stocks/rnfi-services-ltd) RNFI · breaking out · Too little evidence to rank firmly · 56% evidence 51.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.5/35 · Revenue 6.5% · Profit 34.1% · Operating margin change -0.8 points · 83% evidence Capital efficiency 15.5/25 · ROCE 27.3% · Operating margin 3.9% · 76% evidence Valuation 10.1/20 · P/E 28.2× · PEG n/a · 15% evidence Relative strength 11.0/20 · Lead over its industry n/a · Lead over NIFTY 500 12.1% · 1 year -13% · 25% evidence · 9 of 12 weeks ahead Exact sum: 14.5 + 15.5 + 10.1 + 11 = 51.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 9. [TBO Tek Ltd](https://www.sectoralpha.in/stocks/tbo-tek-ltd) TBOTEK · leader · Evidence leans down · 74% evidence 48.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.8/35 · Revenue 69% · Profit 14.2% · Operating margin change 1 points · 88% evidence Capital efficiency 16.7/25 · ROCE 18.3% · Operating margin 15% · 100% evidence Valuation 4.3/20 · P/E 61.8× · PEG 6.18 · 65% evidence Relative strength 10.7/20 · Lead over its industry n/a · Lead over NIFTY 500 9.9% · 1 year 3.3% · 25% evidence · 12 of 12 weeks ahead Exact sum: 16.8 + 16.7 + 4.3 + 10.7 = 48.5 · What this means: A strong business with a high valuation: it would need rising earnings, or a lower multiple, to score better on value. 10. [Info Edge (India) Ltd](https://www.sectoralpha.in/stocks/info-edge-indialtd) NAUKRI · losing its lead · Evidence leans down · 75% evidence 45.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.2/35 · Revenue 13.2% · Profit 33.5% · Operating margin change 4 points · 95% evidence Capital efficiency 9.8/25 · ROCE 3.5% · Operating margin 39% · 76% evidence Valuation 9.6/20 · P/E 46.6× · PEG n/a · 15% evidence Relative strength 4.5/20 · Lead over its industry -3.7% · Lead over NIFTY 500 7.1% · 1 year -13.7% · 100% evidence · 11 of 12 weeks ahead Exact sum: 21.2 + 9.8 + 9.6 + 4.5 = 45.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [One Mobikwik Systems Ltd](https://www.sectoralpha.in/stocks/one-mobikwik-systems-ltd) MOBIKWIK · breaking out · Too little evidence to rank firmly · 56% evidence 43.0 out of 100 Growth Capital Valuation Relative
12. [Just Dial Ltd](https://www.sectoralpha.in/stocks/just-dial-ltd) JUSTDIAL · quiet · Evidence leans down · 78% evidence 41.8 out of 100 Growth Capital Valuation Relative
13. [Urban Company Ltd](https://www.sectoralpha.in/stocks/urban-company-ltd) URBANCO · breaking out · Too little evidence to rank firmly · 56% evidence 32.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [E-Commerce - Platform - Utility](https://www.sectoralpha.in/sectors/e-commerce-platform-utility), all 13 compared on one page. ## Which companies are close to MPS in size? MPS is the 8th largest of 13 E-Commerce - Platform - Utility companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: TBO Tek, Indiamart Intermesh and Just Dial. Just below it: MSTC, One Mobikwik Systems and Creative Newtech. ### E-Commerce - Platform - Utility companies close in size

1. [TBO Tek Ltd](https://www.sectoralpha.in/stocks/tbo-tek-ltd) ₹16,638 crore
2. [Indiamart Intermesh Ltd](https://www.sectoralpha.in/stocks/indiamart-intermesh-ltd) ₹8,944 crore
3. [Just Dial Ltd](https://www.sectoralpha.in/stocks/just-dial-ltd) ₹5,481 crore
4. MPS Ltd ₹3,970 crore
5. [MSTC Ltd](https://www.sectoralpha.in/stocks/mstc-ltd) ₹3,765 crore
6. [One Mobikwik Systems Ltd](https://www.sectoralpha.in/stocks/one-mobikwik-systems-ltd) ₹1,693 crore
7. [Creative Newtech Ltd](https://www.sectoralpha.in/stocks/creative-newtech-ltd) ₹1,670 crore

[All 13 E-Commerce - Platform - Utility companies, largest first](https://www.sectoralpha.in/sectors/e-commerce-platform-utility#all-companies)

### Companies close in size in other industries

1. [Gujarat Alkalies & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-alkalies-chemicals-ltd) ₹3,975 crore · Chemicals - Inorganic - Caustic Soda/Soda Ash
2. [Aarti Drugs Ltd](https://www.sectoralpha.in/stocks/aarti-drugs-ltd) ₹3,972 crore · Pharma - API
3. MPS Ltd ₹3,970 crore
4. [Sustainable Energy Infra Trust](https://www.sectoralpha.in/stocks/sustainable-energy-infra-trust) ₹3,969 crore · Infrastructure Investment Trusts
5. [Filatex India Ltd](https://www.sectoralpha.in/stocks/filatex-india-ltd) ₹3,964 crore · Textiles - Manmade Fibre - PFY/PSF

## What else do people ask about MPS? ### What is MPS's share price today? MPS Ltd's share price is ₹2,350.50, +8.2% over the past year. The whole company is worth ₹4,020 Cr on the market. In the last 52 weeks it traded between ₹1,393 to ₹2,931; today it is 62% of the way up from the low, 4.0% above its 200-day average (as of 3 November 2026). ### What were MPS's latest quarterly results? MPS Ltd reported revenue of ₹224 Cr and net profit of ₹50.0 Cr for the Jun 2026 quarter. Revenue rose 20.4% and profit rose 42.9% compared with a year earlier. Earnings per share were ₹29.46. The operating margin was 34.0%, 7.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is MPS's market cap? MPS Ltd's market capitalisation is ₹4,020 Cr at a share price of ₹2,350.50. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is MPS performing? MPS Ltd's share price has been rising for 15 weeks. In its latest quarter, revenue rose 20.4% and profit rose 42.9% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 4 weeks running (as of 3 November 2026). ### Will MPS's share price go up? This page does not forecast MPS Ltd's share price. What it shows instead: the share price is ₹2,350.50, and it has been rising for 15 weeks. Its P/E of 22.0× is higher than 79% of its own last 11 years (as of 3 November 2026). ### Where is MPS in its business cycle? MPS Ltd's FY26 operating margin was 31.0%, against a 13-year range of 24.0% to 36.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 34.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the MPS story? Biggest thing to watch: the P/E is higher than 79% of its own history, so the multiple has already done part of the work. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is MPS a stock worth studying right now? What the numbers show: MPS Ltd's earnings have grown faster than its share price. Earnings per share grew +16.3% in a year while the price moved +8.2%. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a MPS share price forecast for 2026? What management itself guided: FY27 consolidated operating profit to comfortably cross ₹300 crore.0% three-year operating profit yearly growth from FY24 to FY27. What would change the story: Consolidated operating profit falling below ₹70 Cr in two consecutive quarters, or operating cash flow conversion (operating cash flow/profit) dropping below 0.70x, which would indicate that AI productivity gains are being competed away and pricing power is eroding. ### Where does this page get MPS' management information? From MPS' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. This is research, not advice. We’re not SEBI-registered.