540730
Mehai Technology financials
- Market cap
- ₹88 Cr
- Sector
- Services
What Mehai Technology does
Mehai Technology Limited is registered in Jaipur, Rajasthan with its corporate office in Kolkata, West Bengal, and operates through a wholly-owned subsidiary, Momentous Retails Private Limited (incorporated July 2022). During FY2024-25 shareholders approved widening the company's Memorandum of Association to add: trading, distribution and dealing in electrical and electronic goods, packaging materials and agricultural products; consultancy, application development, engineering/architectural design and GIS/IT-enabled services; electrical and instrumentation engineering contracting and building-management-systems work; and design, manufacture, supply and installation of solar energy systems, Battery Energy Storage Systems (BESS) and Lithium Iron Phosphate battery packs. The company also proposed divesting its stake in another subsidiary, KBS Corporates Private Limited, during the year after the unit did not achieve expected growth.
Segments
- Retail
- Wholly-owned subsidiaries
- Momentous Retails Private Limited (since Jul-2022); KBS Corporates Private Limited (proposed for divestment, FY25)
Quarterly results
Q1 FY27: revenue up 19.7%, net profit up 13.5% 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 | 10 | 55 | 52 | 18 | 22 +116% | 22 −59% | 62 +18% | 22 +20% |
| EBITDA | 1 | 9 | 2 | 3 | 4 +150% | 4 −56% | 5 +112% | 3 +21% |
| Net profit | 1 | 6 | 1 | 1 | 2 +130% | 2 −65% | 3 +180% | 1 +14% |
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 −91.6% 1Y
1Y: ₹14.09 on 10 Sept 2025 → ₹1.18. High ₹14.53 (11 Sept 2025), low ₹1.13 (30 Mar 2026).
Financials, as filed
Revenue grew 142.2% a year over 3 years, FY23 to FY26. Operating margin widened to 12.4%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹9 Cr | ₹15 Cr | ₹119 Cr | ₹124 Cr |
| Operating profit | ₹1 Cr | ₹2 Cr | ₹13 Cr | ₹15 Cr |
| Operating margin | 10.5% | 10.8% | 11.1% | 12.4% |
| Interest | ₹0 Cr | ₹1 Cr | ₹2 Cr | ₹5 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹1 Cr | ₹1 Cr | ₹8 Cr | ₹8 Cr |
| Net margin | 5.9% | 3.9% | 6.3% | 6.2% |
| Cash from operations | ₹3 Cr | ₹2 Cr | ₹-22 Cr | ₹14 Cr |
| Free cash flow | ₹-1 Cr | ₹-35 Cr | ₹-56 Cr | ₹-18 Cr |
| ROCE | 6.0% | 6.0% | 14.0% | 7.0% |
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 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity capital | ₹11 Cr | ₹11 Cr | ₹20 Cr | ₹38 Cr | ₹75 Cr |
| Reserves | ₹2 Cr | ₹3 Cr | ₹23 Cr | ₹103 Cr | ₹144 Cr |
| Borrowings | ₹0 Cr | ₹1 Cr | ₹9 Cr | ₹51 Cr | ₹64 Cr |
| Other liabilities | ₹1 Cr | ₹3 Cr | ₹6 Cr | ₹15 Cr | ₹16 Cr |
| Total liabilities | ₹14 Cr | ₹18 Cr | ₹57 Cr | ₹207 Cr | ₹299 Cr |
| Fixed assets | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹5 Cr | ₹11 Cr |
| Capital work in progress | ₹0 Cr | ₹4 Cr | ₹13 Cr | ₹19 Cr | ₹19 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr |
| Other assets | ₹13 Cr | ₹12 Cr | ₹42 Cr | ₹182 Cr | ₹269 Cr |
| Total assets | ₹14 Cr | ₹18 Cr | ₹57 Cr | ₹207 Cr | ₹299 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
Since Jun 2025, promoters trimmed −17.76 pp while the public added +17.75 pp. The shareholder count grew 122% to 23,307.
- Promoters
- 36.5%
- Public
- 63.5%
Since Jun 2025
- Promoters −17.76 pp
- Public +17.75 pp
How it drifted, 12 quarters
Over this window promoters fell from 52.2% to 36.5% — −15.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 52.2%, Public 47.9%.Dec '23: Promoters 52.2%, Public 47.8%.Mar '24: Promoters 52.2%, Public 47.9%.Jun '24: Promoters 56.3%, Public 43.7%.Sep '24: Promoters 56.3%, Public 43.7%.Dec '24: Promoters 55.8%, Public 44.2%.Mar '25: Promoters 52.5%, Public 47.5%.Jun '25: Promoters 54.2%, Public 45.8%.Sep '25: Promoters 54.2%, Public 45.8%.Dec '25: Promoters 36.8%, Public 63.2%.Mar '26: Promoters 36.5%, Public 63.5%.Jun '26: Promoters 36.5%, Public 63.5%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mehai Technology above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Dynamic Services & Security Limited | 36.45% | unchanged |
| Pushpa Bhaju | 2.94% | unchanged |
| Durga Prasad Shaw | 1.50% | unchanged |
| Sandip Rathi | 1.34% | unchanged |
| Sankar Kumar Saha | 1.34% | unchanged |
| Debasish Saha | 1.34% | unchanged |
| Abdul Rashid | 1.34% | unchanged |
| Dinesh Prasad Gond | 1.34% | unchanged |
| Sanjay Jaiswal | 1.33% | unchanged |
| Ravindra N Sakla | 1.24% | unchanged |
| Amar Ghosh | 1.23% | unchanged |
| Pushpender Jain | — | off the list |
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
AttractiveTo justify its price of ₹1, this stock must grow earnings at 4% every year for 7 years. Our analysis caps realistic growth at ~135%. At that growth it is worth ₹245 — upside of 20642%.
- Growth the price implies
- 4.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 135.5% a year
- net profit, FY23–FY26
- The gap
- -1.3 pp
- 20642% downside if it only repeats history
Learn to analyse Mehai Technology
Guides on how to read this kind of business and the numbers that matter.