MAMATA
Mamata Machinery financials
- Market cap
- ₹1.0k Cr
- Sector
- Capital Goods
- Calls analysed
- 4
Mamata Machinery Q4 FY26
What went well
- Order book increased 34% YoY to ₹89.59 crores, providing healthy visibility for FY27.
- Domestic packaging sales grew an impressive 55% during FY26.
- Secured a significant multi-machine order for VFFS packaging machines, with 18 machines scheduled for delivery in H1FY27.
What to watch
- Revenue from operations for FY26 declined 8% to ₹233.1 crores from ₹254.6 crores in FY25.
- Q4 FY26 revenue from operations was ₹73.9 crores, down from ₹111 crores in Q4 FY25.
What Mamata Machinery Limited does
Mamata Machinery designs, manufactures and exports machines used across the flexible packaging value chain: blown-film co-extrusion lines, bag- and pouch-making (converting) machines, and horizontal/vertical form-fill-seal packaging machines sold under the 'Vega' and 'Win' brands. It follows an asset-light model, keeping design, software, electronics and assembly in-house while outsourcing fabrication and bought-out components to a curated vendor base. It earns through sale of machinery plus attachments, spares and after-sales service, serving convertors and FMCG/food/personal-care/e-commerce brand owners in India and overseas, supported by a wholly-owned US subsidiary (Mamata Enterprises Inc.) and international sales agents.
Segments
- Converting
- Co-extrusion
- Packaging
- Global machine installations
- 5,000+ machines installed
- Countries served
- 80+ countries
- Manufacturing facility (Ahmedabad)
- 20,662 sq. m. land area; 9,235 sq. m. built-up area
- Installed manufacturing capacity
- 250+ machines per annum, expandable within existing premises
- Team strength
- 199 employees in India + 18 at US subsidiary
- International offices/agents
- 2 international offices (US) plus agents across Africa, Middle East, Europe, Asia and South-Central America
Guidance record · Q4 FY26
what the last two calls moved 12 tracked 1 delivered 4 missed 7 open- Total Annual Exhibition Expenses delivered said Q2 FY26 Promised: INR 12 crores Q4 FY26: Actual exhibition expenses for FY26 were ₹10.2 crores, lower than the guided ₹12 crores. As this is a cost metric, lower is better.
- Annual Revenue Growth missed said Q3 FY25 Promised: 18-20% Q4 FY26: No new information on FY25. Verdict remains missed.
- Growth Trajectory revised down said Q3 FY25 Promised: at least 25% growth over the next few years Q4 FY26: Guided for 'about 15% higher top line' for FY27, a further step down from the previously revised 18-20% medium-term aspiration.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 17.0%, net profit down 117.9% 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 | 40 | 48 | 110 | 28 | 40 +2% | 55 +15% | 66 −40% | 32 +17% |
| EBITDA | 0 | 11 | 34 | 2 | 4 +14600% | 6 −40% | 3 −92% | -1 −143% |
| Net profit | 0 | 8 | 25 | 2 | 3 +2431% | 6 −26% | -1 −103% | -0 −118% |
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 −14.8% 1Y
1Y: ₹478.85 on 10 Sept 2025 → ₹407.85. High ₹499.4 (19 Sept 2025), low ₹299.25 (30 Mar 2026).
How the price took the results
close before → close after
- Q4 FY26
- −5.9%
- 1 Jun
- Q2 FY26
- +2.5%
- 15 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 15.3% a year over 1 year, FY25 to FY26. Operating margin narrowed to 8.4%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹223 Cr | ₹189 Cr |
| Operating profit | ₹44 Cr | ₹16 Cr |
| Operating margin | 19.8% | 8.4% |
| Interest | ₹1 Cr | ₹0 Cr |
| Depreciation | ₹2 Cr | ₹3 Cr |
| Net profit | ₹34 Cr | ₹10 Cr |
| Net margin | 15.1% | 5.4% |
| Cash from operations | ₹65 Cr | ₹-1 Cr |
| Free cash flow | ₹63 Cr | ₹-7 Cr |
| ROCE | 29.0% | 10.0% |
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 | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹25 Cr | ₹25 Cr |
| Reserves | ₹84 Cr | ₹104 Cr | ₹142 Cr | ₹135 Cr | ₹152 Cr | ₹155 Cr |
| Borrowings | ₹7 Cr | ₹15 Cr | ₹15 Cr | ₹8 Cr | ₹7 Cr | ₹5 Cr |
| Other liabilities | ₹58 Cr | ₹50 Cr | ₹68 Cr | ₹72 Cr | ₹88 Cr | ₹67 Cr |
| Total liabilities | ₹152 Cr | ₹171 Cr | ₹228 Cr | ₹219 Cr | ₹272 Cr | ₹251 Cr |
| Fixed assets | ₹30 Cr | ₹28 Cr | ₹62 Cr | ₹61 Cr | ₹65 Cr | ₹64 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹12 Cr | ₹12 Cr | ₹13 Cr | ₹13 Cr | ₹0 Cr | ₹13 Cr |
| Other assets | ₹110 Cr | ₹131 Cr | ₹153 Cr | ₹144 Cr | ₹207 Cr | ₹174 Cr |
| Total assets | ₹152 Cr | ₹171 Cr | ₹228 Cr | ₹219 Cr | ₹272 Cr | ₹251 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, the public trimmed −1.19 pp while DIIs added +0.89 pp. The shareholder count shrank 13% to 54,773.
- Promoters
- 62.5%
- FIIs
- 0.3%
- DIIs
- 1.8%
- Public
- 35.5%
Since Jun 2025
- Public −1.19 pp
- DIIs +0.89 pp
- FIIs +0.31 pp
How it drifted, 7 quarters
Over this window the public went from 32.4% to 35.5% — +3.1 pp.
Ownership split by quarter, oldest first. Dec '24: Promoters 62.5%, FIIs 1.5%, DIIs 3.7%, Public 32.4%.Mar '25: Promoters 62.5%, FIIs 0.3%, DIIs 1.5%, Public 35.8%.Jun '25: Promoters 62.5%, FIIs 0.0%, DIIs 0.9%, Public 36.6%.Sep '25: Promoters 62.5%, FIIs 0.2%, DIIs 0.3%, Public 37.1%.Dec '25: Promoters 62.5%, FIIs 0.1%, DIIs 0.3%, Public 37.2%.Mar '26: Promoters 62.5%, FIIs 0.2%, DIIs 1.7%, Public 35.7%.Jun '26: Promoters 62.5%, FIIs 0.3%, DIIs 1.8%, Public 35.5%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Anjali Aniruddha Malpani newly disclosed 1.42% held
- Ajay Upadhyaya +0.18 pp 2.03% held
- Solidarity Microcap Emerging Leader AIF AIF +0.10 pp 1.14% held
- Kusumben Patel - 2 newly disclosed 0.00% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mamata Machinery Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mahendra Narsinhbhai Patel | 21.17% | unchanged |
| Mamata Group Corporate Services Llp | 18.02% | unchanged |
| Mamata Management Services Llp | 12.88% | unchanged |
| Bhagvatiben Chandrakant Patel | 8.04% | unchanged |
| Chandrakant Baldevbhai Patel | 2.34% | unchanged |
| Ajay Upadhyaya | 2.03% | +0.18 pp |
| Anjali Aniruddha Malpani | 1.42% | newly disclosed |
| Chartered Finance & Leasing Limited | 1.23% | unchanged |
| Solidarity Microcap Emerging Leader AIF AIF | 1.14% | +0.10 pp |
| Nirav Industries | 0.00% | unchanged |
| Shree Laxmi Offset | 0.00% | unchanged |
| Garvgreen Private Limited | 0.00% | 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.
All earnings calls (4)
Read the Q4 FY26 call →Learn to analyse Mamata Machinery Limited
Guides on how to read this kind of business and the numbers that matter.