526169
Multibase India financials
- Market cap
- ₹220 Cr
- Sector
- Chemicals
What Multibase India does
Multibase India manufactures and trades thermoplastic elastomer products (branded Multipro Elastomer™, TPSiV™ and Multiflex® SiE) and silicone masterbatch additives used in automotive interiors/safety parts, consumer & industrial goods, portable electronics and building & construction applications. It runs a single manufacturing works at Nani Daman (Daman and Diu, UT) and its customers are largely based in India, though it also exports to global markets. The company imports certain raw materials and traded finished thermoplastic-elastomer (auto safety grade) products from its promoter/parent, Multibase S.A. of France, and resells them to Indian customers. It has no subsidiary companies.
Segments
- Automotive
- Consumer & Industrial
- Thermoplastic Additives
- Manufacturing plant
- 1 — Nani Daman, Daman & Diu (UT)
- Business segments
- 3 — Automotive, Consumer & Industrial, Thermoplastic Additives
- Core product/brand lines
- 4 — Silicone Masterbatch, Multipro Elastomer™, TPSiV™, Multiflex® SiE
- Customer footprint
- Largely domestic (India), with exports to global markets
- Key raw-material / finished-goods source
- Imported from promoter Multibase S.A. (France)
- Subsidiaries
- None (standalone entity)
Quarterly results
Q1 FY27: revenue up 25.1%, net profit up 46.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 18 | 17 | 16 | 17 | 19 +1% | 14 −21% | 18 +11% | 21 +25% |
| EBITDA | 4 | 2 | 5 | 2 | 3 −16% | 4 +63% | 2 −63% | 4 +51% |
| Net profit | 4 | 2 | 4 | 2 | 3 −33% | 3 +38% | 2 −51% | 3 +46% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −29.4% 1Y
1Y: ₹249.25 on 10 Sept 2025 → ₹176. High ₹261.35 (12 Nov 2025), low ₹160.6 (23 Mar 2026).
Financials, as filed
Revenue fell 2.7% a year over 3 years, FY23 to FY26. Operating margin widened to 17.2%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹72 Cr | ₹65 Cr | ₹71 Cr | ₹67 Cr |
| Operating profit | ₹10 Cr | ₹8 Cr | ₹15 Cr | ₹11 Cr |
| Operating margin | 13.3% | 12.9% | 20.9% | 17.2% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹10 Cr | ₹11 Cr | ₹15 Cr | ₹10 Cr |
| Net margin | 13.5% | 17.2% | 20.7% | 15.7% |
| Cash from operations | ₹9 Cr | ₹5 Cr | ₹6 Cr | ₹13 Cr |
| Free cash flow | ₹8 Cr | ₹3 Cr | ₹4 Cr | ₹11 Cr |
| ROCE | 11.0% | 12.0% | 19.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Reserves | ₹101 Cr | ₹105 Cr | ₹113 Cr | ₹122 Cr | ₹71 Cr | ₹76 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹12 Cr | ₹12 Cr | ₹11 Cr | ₹10 Cr | ₹13 Cr | ₹14 Cr |
| Total liabilities | ₹126 Cr | ₹130 Cr | ₹137 Cr | ₹144 Cr | ₹96 Cr | ₹103 Cr |
| Fixed assets | ₹10 Cr | ₹11 Cr | ₹11 Cr | ₹12 Cr | ₹13 Cr | ₹13 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹115 Cr | ₹119 Cr | ₹126 Cr | ₹133 Cr | ₹83 Cr | ₹90 Cr |
| Total assets | ₹126 Cr | ₹130 Cr | ₹137 Cr | ₹144 Cr | ₹96 Cr | ₹103 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025.
- Promoters
- 75.0%
- Public
- 25.0%
Since Jun 2025
- Public +0.01 pp
- Promoters 0.00 pp
- FIIs 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 75.0%, FIIs 0.3%, Public 24.7%.Dec '23: Promoters 75.0%, FIIs 0.3%, Public 24.7%.Mar '24: Promoters 75.0%, FIIs 0.3%, Public 24.7%.Jun '24: Promoters 75.0%, FIIs 0.2%, Public 24.8%.Sep '24: Promoters 75.0%, FIIs 0.2%, Public 24.8%.Dec '24: Promoters 75.0%, FIIs 0.2%, Public 24.8%.Mar '25: Promoters 75.0%, Public 25.0%.Jun '25: Promoters 75.0%, Public 25.0%.Sep '25: Promoters 75.0%, Public 25.0%.Dec '25: Promoters 75.0%, Public 25.0%.Mar '26: Promoters 75.0%, Public 25.0%.Jun '26: Promoters 75.0%, Public 25.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Multibase India above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Multibase SA | 75.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
ExpensiveTo justify its price of ₹176, this stock must grow earnings at 15% every year for 7 years. Our analysis caps realistic growth at ~2%. At that growth it is worth ₹87 — downside of 50%.
- Growth the price implies
- 15.3% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 2.2% a year
- net profit, FY23–FY26 · EPS 2.2%
- The gap
- 0.1 pp
- -50% downside if it only repeats history
Learn to analyse Multibase India
Guides on how to read this kind of business and the numbers that matter.