Modipon

BSE: MODIPON · Realty

52W Range₹28 ₹66

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Snapshot

Unlock Modipon's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Modipon is a company formerly engaged in the manufacturing of various fiber products, including carbon and cement fiber boards. Following the permanent closure of its fiber unit in 2007, the company is currently pivoting its focus toward real estate development in Modinagar.

Business Model

The company is transitioning from a defunct manufacturing entity to a real estate developer. It intends to liquidate its liabilities and generate capital by developing land assets in Modinagar.

Management Commentary

Management is currently focused on securing necessary government approvals to initiate real estate projects. The primary objective is to utilise surplus land to settle outstanding liabilities and explore new business activities.

Growth Outlook

Growth is contingent upon the successful development of real estate projects in Modinagar. Future prospects depend heavily on receiving regulatory clearances from the Uttar Pradesh government.

Key Risks

  • Regulatory Approval Risk. The company's transition to real estate is entirely dependent on obtaining necessary approvals from the Uttar Pradesh government, which may face delays.
  • Liquidity and Debt Risk. The company carries significant liabilities that must be addressed through the successful execution of its proposed real estate projects.
  • Operational Transition Risk. As a former manufacturing entity, the company faces execution risks in pivoting to the real estate sector, which requires different expertise and capital management.

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Key Metrics

NET PROFIT

₹0.51 Cr

TTM · standalone

+206.2%YoY

EPS

₹0.45

TTM · standalone

+209.8%YoY

RETURN ON EQUITY

0.6%

TTM · standalone

-0.5 ppYoY

RETURN ON CAPITAL EMPLOYED

-0.8%

TTM · standalone

-1.6 ppYoY

P/E

75.6x

Q4 FY26 · standalone

75.6 vs -67.3x5Y avg

EV/EBITDA

160.5x

Q4 FY26 · standalone

160.5 vs -43.1x5Y avg

DEBT TO EQUITY

0.5x

Q4 FY26 · standalone

+0.01xYoY

Peers · Realty

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
ModiponMODIPON
₹46 Cr87.44179.200.6%-0.8%-12.0%
Suratwwala Business Group LimitedSBGLP
₹427 Cr9.198.46294.9%35.3%38.0%31.0%-34.1%
RDB Infrastructure and Power LimitedRDBIPL
₹342 Cr32.5624.7911.7%10.7%12.5%-56.0%
Nimbus ProjectsNIMBSPROJ
₹328 Cr-3.28-8.949760.3%-27.6%-31.7%-9.5%-18.2%
Ratnabhumi Developers LimitedRATNABHUMI
₹238 Cr75.6518.71-62.0%30.6%7.5%11.5%
National Standard (India) LimitedNATIONSTD
₹206 Cr-30.7%-94.1%

As of Q4 FY26

Financials