Modern Malleable

BSE: MODMA · Iron & Steel Products

52W Range₹7 ₹86

Snapshot

Unlock Modern Malleable's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Modern Malleable Casting Works Limited manufactures and supplies galvanised iron and steel fittings, insulator hardware, and conductor accessories for the power transmission and distribution sector. The company serves as a specialised vendor for state electricity boards and private utilities, focusing on components essential for electrical grid infrastructure.

Business Model

The company generates revenue by supplying niche hardware components to the power infrastructure supply chain, operating primarily as a B2B manufacturer. It leverages technical expertise in casting and galvanising to meet the specific engineering standards required by power transmission projects.

Growth Outlook

Growth is driven by the ongoing expansion and modernisation of the domestic power grid and the increasing demand for reliable transmission hardware. The company is positioned to benefit from infrastructure investments aimed at enhancing electrical grid stability.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of iron and steel can significantly impact the company's manufacturing margins.
  • Concentration Risk. The company's heavy reliance on the power transmission sector makes it vulnerable to shifts in government infrastructure spending and utility capital expenditure.
  • Regulatory and Compliance Risk. Failure to meet the stringent technical specifications mandated by state electricity boards could lead to loss of contracts and reputational damage.
  • Competitive Pressure. As a small-cap player, the company faces intense competition from larger manufacturers and low-cost unorganised sector participants.

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Key Metrics

REVENUE

₹151 Cr

TTM · standalone

+189.2%YoY

NET PROFIT

₹19 Cr

TTM · standalone

+93.1%YoY

EPS

₹1.66

TTM · standalone

+72.9%YoY

RETURN ON EQUITY

11.8%

TTM · standalone

+5.3 ppYoY

RETURN ON CAPITAL EMPLOYED

15.1%

TTM · standalone

+7.9 ppYoY

EV/EBITDA

7.7x

Q4 FY26 · standalone

7.7 vs 27.7x5Y avg

EBITDA MARGIN

18.2%

TTM · standalone

-6.5 ppYoY

NET PROFIT MARGIN

16.4%

Q4 FY26 · standalone

-24.9 ppYoY

DEBT TO EQUITY

0.1x

Q4 FY26 · standalone

+0.03xYoY

Peers · Iron & Steel Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Modern MalleableMODMA
₹569 Cr29.4021.16189.2%18.2%11.8%15.1%
Rama Steel TubesRAMASTEEL
₹721 Cr40.0927.49-1.8%2.8%2.9%5.4%-55.5%
Aerpace Industries LimitedAERPACE
₹592 Cr36.3230.72720.0%38.3%25.9%+65.5%
Panchmahal SteelPANCHMAHQ
₹580 Cr99.7231.765.0%3.9%7.2%+13.9%
Azad India Mobility LimitedAZADIND
₹509 Cr3.3%-1.4%-1.3%-30.1%
SurajSURAJLTD
₹385 Cr46.4419.13-15.2%12.0%6.1%12.6%-32.1%

As of Q4 FY26

Financials