Mukand

NSE: MUKANDLTD · Iron & Steel

52W Range₹114 ₹154

Snapshot

Unlock Mukand's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Mukand Limited is a diversified Indian manufacturer specialising in alloy and stainless-steel products, industrial machinery, and engineering contracts. The company also maintains interests in road construction, property development, and non-banking financial activities.

Business Model

The company generates revenue through the production and sale of specialised steel products, the manufacturing of heavy industrial machinery such as cranes, and the provision of engineering services. It further diversifies income streams through infrastructure development and financial services.

Growth Outlook

Growth is driven by demand for high-grade steel in the nuclear, defence, and power sectors, alongside the execution of complex engineering and material handling contracts. The company continues to leverage its international export footprint to capture demand in global markets.

Key Risks

  • Cyclicality of Steel Industry. The company is highly susceptible to fluctuations in global steel prices and cyclical demand patterns within the industrial manufacturing sector.
  • Input Cost Volatility. Profitability is sensitive to the volatile prices of raw materials, particularly iron ore, scrap metal, and energy costs.
  • Regulatory and Project Risk. The engineering and infrastructure segments are subject to project execution delays, regulatory approvals, and intense competition in the bidding process.
  • Geopolitical Export Risks. As an exporter to multiple international markets, the company faces risks related to trade barriers, tariffs, and currency fluctuations.

Price

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Key Metrics

REVENUE

₹4,890 Cr

TTM · consolidated

-0.0%YoY

NET PROFIT

₹604 Cr

TTM · consolidated

+696.1%YoY

EPS

₹41.91

TTM · consolidated

+699.8%YoY

RETURN ON EQUITY

55.3%

TTM · consolidated

+47.1 ppYoY

RETURN ON CAPITAL EMPLOYED

50.6%

TTM · consolidated

+38.7 ppYoY

P/E

3.5x

Q4 FY26 · consolidated

3.5 vs 0.8x5Y avg

EV/EBITDA

5.2x

Q4 FY26 · consolidated

5.2 vs 10.5x5Y avg

EBITDA MARGIN

14.8%

TTM · consolidated

+8.7 ppYoY

NET PROFIT MARGIN

43.7%

Q4 FY26 · consolidated

+42.7 ppYoY

DEBT TO EQUITY

1.1x

Q4 FY26 · consolidated

-0.53xYoY

Peers · Iron & Steel

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
MukandMUKANDLTD
1,7613.495.230.0%14.8%55.3%50.6%+2.0%
Sarda Energy and Minerals Ltd.SARDAEN
17,98015.749.8322.6%35.6%16.9%18.0%+11.1%
NMDC Steel Ltd.NSLNISP
10,304206.6710.7960.4%11.8%0.4%3.1%+10.3%
Jai Balaji Industries LimitedJAIBALAJI
5,32445.9616.48-8.9%6.7%6.0%10.9%-46.3%
Prakash IndustriPRAKASH
2,0956.785.08-13.3%15.6%9.8%10.2%-24.5%
Manaksia SteelsMANAKSTEEL
32012.818.1278.3%7.2%13.4%22.7%+25.4%

As of Q4 FY26

Financials