MANUGRAPH
Manugraph India financials
- Market cap
- ₹46 Cr
- Sector
- Capital Goods
What Manugraph India Limited does
Manugraph India designs and manufactures web offset printing presses used by newspaper and commercial printers. It is India's largest manufacturer of web offset presses and the market leader in the niche 4-page newspaper offset printing press segment. Manufacturing operations are based at a factory in the MIDC Industrial Estate, Shiroli, Pulachi, Kolhapur (Maharashtra). The company has no subsidiaries, associates or joint ventures.
- Market position
- Largest manufacturer of web offset printing presses in India; leader in the 4-page newspaper offset printing press niche
- Manufacturing facility
- Kolhapur, Maharashtra (MIDC Industrial Estate, Shiroli, Pulachi)
- Permanent employees
- 197 (as of Mar-2025)
- Subsidiaries / JVs
- None
Quarterly results
Q4 FY23: revenue up 180.4%, net profit up 13.6% against the same quarter last year.
| Line item | Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 16 | 13 | 13 | 6 +35% | 25 +57% | 13 +1% | 35 +180% |
| EBITDA | -4 | -3 | -4 | -3 | -4 −20% | -3 +6% | -7 −86% | -1 +53% |
| Net profit | -4 | -3 | -4 | -2 | -5 −38% | -3 −10% | -0 +98% | -2 +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 −35.5% 1Y
1Y: ₹23.21 on 10 Sept 2025 → ₹14.96. High ₹23.21 (10 Sept 2025), low ₹9.76 (30 Mar 2026).
Financials, as filed
Revenue grew 63.7% a year over 2 years, FY21 to FY23. Operating margin widened to -18.9%.
| Year ending | FY21 | FY22 | FY23 |
|---|---|---|---|
| Revenue | ₹30 Cr | ₹46 Cr | ₹80 Cr |
| Operating profit | ₹-16 Cr | ₹-13 Cr | ₹-15 Cr |
| Operating margin | -52.8% | -27.8% | -18.9% |
| Interest | ₹2 Cr | ₹2 Cr | ₹3 Cr |
| Depreciation | ₹2 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹-29 Cr | ₹-14 Cr | ₹-11 Cr |
| Net margin | -96.6% | -30.3% | -13.9% |
| Cash from operations | ₹-22 Cr | ₹-1 Cr | ₹-6 Cr |
| Free cash flow | ₹-21 Cr | ₹0 Cr | ₹2 Cr |
| ROCE | -10.0% | -9.0% | -12.0% |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 |
|---|---|---|---|---|---|---|
| Equity capital | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr | ₹6 Cr |
| Reserves | ₹202 Cr | ₹184 Cr | ₹146 Cr | ₹117 Cr | ₹104 Cr | ₹93 Cr |
| Borrowings | ₹3 Cr | ₹0 Cr | ₹9 Cr | ₹19 Cr | ₹18 Cr | ₹11 Cr |
| Other liabilities | ₹96 Cr | ₹66 Cr | ₹66 Cr | ₹41 Cr | ₹43 Cr | ₹62 Cr |
| Total liabilities | ₹306 Cr | ₹256 Cr | ₹227 Cr | ₹183 Cr | ₹170 Cr | ₹172 Cr |
| Fixed assets | ₹101 Cr | ₹97 Cr | ₹95 Cr | ₹93 Cr | ₹92 Cr | ₹90 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹48 Cr | ₹11 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹158 Cr | ₹148 Cr | ₹131 Cr | ₹90 Cr | ₹78 Cr | ₹82 Cr |
| Total assets | ₹306 Cr | ₹256 Cr | ₹227 Cr | ₹183 Cr | ₹170 Cr | ₹172 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, DIIs trimmed −0.15 pp while the public added +0.13 pp. The shareholder count shrank 7% to 11,894.
- Promoters
- 57.7%
- DIIs
- 1.6%
- Public
- 40.7%
Since Jun 2025
- DIIs −0.15 pp
- Public +0.13 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 57.7%, DIIs 0.8%, Public 41.5%.Dec '23: Promoters 57.7%, DIIs 0.8%, Public 41.6%.Mar '24: Promoters 57.7%, DIIs 0.8%, Public 41.6%.Jun '24: Promoters 57.7%, DIIs 0.7%, Public 41.6%.Sep '24: Promoters 57.7%, DIIs 1.8%, Public 40.5%.Dec '24: Promoters 57.7%, DIIs 1.8%, Public 40.5%.Mar '25: Promoters 57.7%, DIIs 1.8%, Public 40.5%.Jun '25: Promoters 57.7%, DIIs 1.8%, Public 40.6%.Sep '25: Promoters 57.7%, DIIs 1.8%, Public 40.6%.Dec '25: Promoters 57.7%, DIIs 1.8%, Public 40.6%.Mar '26: Promoters 57.7%, DIIs 1.7%, Public 40.7%.Jun '26: Promoters 57.7%, DIIs 1.6%, Public 40.7%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Manugraph India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Multigraph Machinery Co Pvt. Ltd | 19.74% | unchanged |
| Pradeep Sanat Shah HUF | 13.67% | unchanged |
| Sanjay Sanat Shah HUF | 12.38% | unchanged |
| Sanjay Sanat Shah | 3.80% | unchanged |
| Ameeta Shah | 3.57% | unchanged |
| Rupalli Pradeep Shah | 2.92% | unchanged |
| Minal Bharat Patel | 2.06% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.80% | unchanged |
| East India Securities Ltd | 1.79% | unchanged |
| Anu Narayan | 1.41% | unchanged |
| Valley Distributors Llp | 1.26% | unchanged |
| Finquest Financial Solutions Pvt. Ltd. NBFC / DFI | 1.11% | 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.
Learn to analyse Manugraph India Limited
Guides on how to read this kind of business and the numbers that matter.