Mipco Seamless Rings (Gujarat) Ltd.

BSE: MPCOSEMB · Industrial Products

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Snapshot

Unlock Mipco Seamless Rings (Gujarat) Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Mipco Seamless Rings (Gujarat) Limited manufactures seamless rings and forged components primarily for the bearing and automotive industries. The company utilises forging and rolling processes at its Gujarat facility to produce high-precision industrial components.

Business Model

The company operates as a supplier of intermediate goods, providing forged components to original equipment manufacturers and bearing producers. It maintains a niche market position within the Indian industrial engineering sector.

Growth Outlook

Growth is driven by the optimisation of production capabilities to meet the evolving requirements of the Indian engineering and transport infrastructure sectors.

Key Risks

  • Cyclical Demand. The company's performance is highly sensitive to cyclical fluctuations in the automotive and bearing industries.
  • Input Cost Volatility. Fluctuations in raw material prices, particularly steel, can significantly impact profit margins.
  • Market Competition. As a small-cap entity, the company faces intense competition from larger industrial conglomerates with greater economies of scale.
  • Operational Concentration. Reliance on a single manufacturing facility in Gujarat creates exposure to localised operational or regulatory disruptions.

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Key Metrics

NET PROFIT

₹0.04 Cr

TTM · standalone

+117.4%YoY

EPS

₹0.14

TTM · standalone

+122.2%YoY

RETURN ON EQUITY

-7.1%

TTM · standalone

-31.4 ppYoY

RETURN ON CAPITAL EMPLOYED

-12.3%

TTM · standalone

-42.0 ppYoY

P/E

162.9x

Q1 FY26 · standalone

162.9 vs -26.5x5Y avg

EV/EBITDA

260.0x

Q1 FY26 · standalone

260.0 vs -51.8x5Y avg

DEBT TO EQUITY

1.1x

Q2 FY26 · standalone

+1.70xYoY

Peers · Industrial Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Mipco Seamless Rings (Gujarat) Ltd.MPCOSEMB
₹9 Cr177.29257.502.3%-7.1%-12.3%+2.3%
United Drilling Tools LimitedUNIDT
₹438 Cr21.3612.1726.4%19.7%7.5%11.3%+6.8%
BatliboiBATLIBOI
₹417 Cr24.3614.3229.5%7.5%6.6%7.7%-14.0%
True ColorsTRUECOLORS
₹374 Cr15.0%
FluidomatFLUIDOM
₹365 Cr17.3612.990.4%38.7%23.8%31.3%-22.1%
Cospower Engineering LimitedCOSPOWER
₹346 Cr12.6%+165.4%

As of Q1 FY26

Financials