Minal Industries

BSE: MINALIND · Trading & Distributors

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Snapshot

Unlock Minal Industries's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Minal Industries Limited is an Indian company specialising in the manufacturing and export of diamonds and gold jewellery. It operates a manufacturing facility in the SEEPZ Special Economic Zone in Mumbai, focusing on diamond processing and intricate jewellery fabrication.

Business Model

The company generates revenue through the processing of cut and polished diamonds and the wholesale distribution of jewellery. Its business model is primarily export-oriented, targeting international markets in the United States, South East Asia, and the Middle East.

Growth Outlook

The company aims to scale its presence in the luxury goods market by leveraging its specialised diamond processing capabilities. It continues to focus on expanding its wholesale jewellery distribution networks to enhance its international footprint.

Key Risks

  • Commodity Price Volatility. Fluctuations in the global prices of gold and rough diamonds can significantly impact profit margins.
  • Export Market Dependency. As an export-oriented firm, the company is vulnerable to economic downturns and regulatory changes in the United States, South East Asia, and the Middle East.
  • Currency Risk. Exposure to foreign exchange rate volatility may affect the company's financial performance due to its reliance on international trade.
  • Regulatory Compliance. Operating within a Special Economic Zone requires strict adherence to evolving export-import policies and customs regulations.

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Key Metrics

REVENUE

₹43 Cr

TTM · consolidated

-16.2%YoY

NET PROFIT

₹4 Cr

TTM · consolidated

-5.0%YoY

EPS

₹0.21

TTM · consolidated

+31.2%YoY

RETURN ON EQUITY

7.5%

TTM · consolidated

-0.4 ppYoY

RETURN ON CAPITAL EMPLOYED

6.3%

TTM · consolidated

+0.3 ppYoY

P/E

9.8x

Q4 FY26 · consolidated

9.8 vs 20.5x5Y avg

EV/EBITDA

8.1x

Q4 FY26 · consolidated

8.1 vs 92.2x5Y avg

EBITDA MARGIN

11.7%

TTM · consolidated

+2.1 ppYoY

NET PROFIT MARGIN

10.7%

Q4 FY26 · consolidated

-7.8 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · consolidated

-0.03xYoY

Peers · Trading & Distributors

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Minal IndustriesMINALIND
₹81 Cr20.0016.20-16.2%11.7%7.5%6.3%+8.0%
Veritas (India)VERITAS
₹445 Cr8.637.06-24.1%3.9%1.9%2.7%-55.4%
Kothari ProductsKOTHARIPRO
₹407 Cr179.58-12.12-18.3%-5.1%-0.2%-2.3%-9.8%
Rotographics (India) LimitedRGIL
₹404 Cr94.62326.544987.7%3.0%12.6%17.2%
Polo Queen Industrial and Fintech LimitedPQIF
₹333 Cr141.7164.71-5.7%7.0%1.3%2.5%-79.1%
Constronics Infra Ltd.CONSTRONIC
₹61 Cr5.5%-24.7%

As of Q4 FY26

Financials