MASTER
Master Components financials
- Market cap
- ₹166 Cr
- Sector
- Capital Goods
What Master Components Limited does
Master Components Limited manufactures engineering plastic components, sub-assemblies and assemblies using thermoplastic injection moulding, thermoset injection moulding, transfer moulding and compression moulding. It earns by supplying these moulded parts to long-standing OEM customers across the electrical, automotive, industrial, healthcare, childcare, precast and defence-aligned sectors, including customers such as Lauritz Knudsen (formerly L&T Switchgear). The company operates from its original Ambad MIDC facility in Nashik and, from FY 2025-26, an additional manufacturing facility taken on a five-year licensing arrangement to expand installed capacity.
Segments
- Plastic engineering components & sub-assemblies
- Manufacturing facilities
- 2 in Nashik — original Ambad MIDC unit + additional facility under a 5-year licensing arrangement (operational from FY 2025-26)
- Workforce
- ~250 (on-roll + contract, across facilities, FY 2025-26)
- Moulding processes
- 4 — thermoplastic injection, thermoset injection, transfer, and compression moulding
- Quality certifications
- IATF 16949:2016, ISO 9001:2015
- Zero Waste to Landfill rating
- Silver (DIN SPEC 91436, certified by TÜV SÜD) — over 90% of operational waste diverted from landfill
- End-markets served
- Electrical, automotive, industrial, healthcare, childcare, precast and defence-aligned sectors
Quarterly results
Q4 FY26: revenue up 172.5%, net profit up 151.5% against the same quarter last year.
| Line item | Q2 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 10 | 11 | 14 | 18 | 25 +146% | 37 +220% | 38 +173% |
| EBITDA | 2 | 2 | 2 | 3 | 4 +115% | 5 +179% | 7 +194% |
| Net profit | 1 | 1 | 2 | 2 | 5 +467% | 3 +224% | 4 +151% |
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 +16.9% 1Y
1Y: ₹355 on 10 Sept 2025 → ₹415. High ₹500.25 (4 Aug 2026), low ₹284.65 (25 Mar 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Reserves | ₹9 Cr | ₹10 Cr | ₹8 Cr | ₹19 Cr | ₹29 Cr | ₹33 Cr |
| Borrowings | ₹2 Cr | ₹2 Cr | ₹1 Cr | ₹-0 Cr | ₹9 Cr | ₹11 Cr |
| Other liabilities | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹3 Cr | ₹10 Cr | ₹11 Cr |
| Total liabilities | ₹14 Cr | ₹15 Cr | ₹17 Cr | ₹26 Cr | ₹52 Cr | ₹59 Cr |
| Fixed assets | ₹8 Cr | ₹7 Cr | ₹7 Cr | ₹10 Cr | ₹26 Cr | ₹28 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹6 Cr | ₹8 Cr | ₹9 Cr | ₹16 Cr | ₹25 Cr | ₹31 Cr |
| Total assets | ₹14 Cr | ₹15 Cr | ₹17 Cr | ₹26 Cr | ₹52 Cr | ₹59 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 Mar 2026
Since Mar 2025, promoters trimmed −5.58 pp while DIIs added +2.85 pp. The shareholder count grew 47% to 350.
- Promoters
- 67.1%
- DIIs
- 2.9%
- Public
- 30.1%
Since Mar 2025
- Promoters −5.58 pp
- DIIs +2.85 pp
- Public +2.72 pp
How it drifted, 6 quarters
Over this window promoters fell from 72.5% to 67.1% — −5.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 72.5%, Public 27.5%.Mar '24: Promoters 72.5%, Public 27.6%.Sep '24: Promoters 72.5%, Public 27.6%.Mar '25: Promoters 72.7%, Public 27.3%.Sep '25: Promoters 67.1%, DIIs 2.8%, Public 30.1%.Mar '26: Promoters 67.1%, DIIs 2.9%, Public 30.1%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Satya Prakash Mittal newly disclosed 1.13% held
- Mentax Impex Private Limited newly disclosed 1.00% held
- Blackberry Sarees Private Limited newly disclosed 1.00% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Master Components Limited above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Rajeshwari Mudduraj Kulkarni | 17.76% | unchanged |
| Anagha Shrikant Joshi | 16.70% | unchanged |
| Shrikant Hanamant Joshi | 10.73% | unchanged |
| Mudduraj Chandrashekhar Kulkarni | 10.73% | unchanged |
| Tanvi Shrikant Joshi | 4.83% | unchanged |
| Pravin Shripad Bhalerao | 3.63% | unchanged |
| Aurum Sme Trust I AIF | 2.26% | unchanged |
| Akshay Mudduraj Kulkarni | 2.05% | unchanged |
| Aditya Mudduraj Kulkarni | 2.05% | unchanged |
| Karan Harish Baijal | 1.38% | unchanged |
| Abhishek Harish Baijal | 1.15% | unchanged |
| Satya Prakash Mittal | 1.13% | newly disclosed |
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
- Growth the price implies
- 7.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
Learn to analyse Master Components Limited
Guides on how to read this kind of business and the numbers that matter.