MUKANDLTD

Mukand share price & financials

Price
₹135.81
Market cap
₹2.0k Cr
Sector
Capital Goods

What Mukand does

Mukand Limited is a Bajaj Group company that manufactures specialty alloy steel and stainless steel long products (bars, wire rods, billets and rebars) at integrated facilities in Kalwe (Thane, Maharashtra) and Ginigera/Hospet (Karnataka), serving automotive, oil & gas, construction, engineering and infrastructure customers in India and abroad. Its alloy steel feeds auto-component and engineering OEMs, while its stainless steel serves oil & gas, petrochemicals, healthcare, food and architectural applications, with a large share sold via exports. Separately, its Industrial Machinery Division designs and manufactures heavy-duty EOT and gantry cranes, bulk-material-handling equipment and custom-engineered turnkey machinery for shipyards, ports, steel plants and power projects. The company also holds stakes in joint venture/subsidiary entities (Mukand Sumi Special Steel with Sumitomo Corporation of Japan, Mukand Sumi Metal Processing, and Mukand Heavy Engineering) operating in adjacent steel and gearbox-manufacturing businesses.

Segments

  • Steel Division
  • Industrial Machinery Division
Manufacturing plants
2 (Kalwe, Thane, Maharashtra; Ginigera/Hospet, Karnataka)
Annual stainless steel melting capacity (Kalwe plant)
180,000 metric tons
Employees
2000+
Customers
130+
Countries served
25+
Business lines
Alloy Steel, Stainless Steel, Industrial Machinery
Founded 1937Headquarters Bajaj Bhawan, Jamnalal Bajaj Marg, 226 Nariman Point, Mumbai 400021, India Company website

Quarterly results

Q1 FY27: revenue up 20.6%, net profit up 96.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,263 1,262 1,107 1,129 1,161 −8%1,329 +5%1,269 +15%1,362 +21%
EBITDA76 72 65 47 69 −9%72 +0%-17 −126%7 −85%
Net profit25 15 11 29 10 −60%10 −33%555 +4945%57 +97%
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 +3.3% 1Y

₹120₹130₹140₹150Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹135.05 on 10 Sept 2025 → ₹139.48. High ₹148.95 (18 May 2026), low ₹115.96 (27 Mar 2026).

Financials, as filed

Revenue fell 4.3% a year over 3 years, FY23 to FY26. Operating margin widened to 3.5%.

Year endingFY23FY24FY25FY26
Revenue₹5.6k Cr₹5.2k Cr₹4.9k Cr₹4.9k Cr
Operating profit₹-184 Cr₹292 Cr₹284 Cr₹171 Cr
Operating margin-3.3%5.6%5.8%3.5%
Interest₹178 Cr₹131 Cr₹130 Cr₹151 Cr
Depreciation₹52 Cr₹48 Cr₹51 Cr₹62 Cr
Net profit₹171 Cr₹102 Cr₹75 Cr₹604 Cr
Net margin3.1%2.0%1.5%12.4%
Cash from operations₹106 Cr₹65 Cr₹180 Cr₹-441 Cr
Free cash flow₹726 Cr₹12 Cr₹74 Cr₹40 Cr
ROCE-8.0%11.0%10.0%4.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹141 Cr₹145 Cr₹145 Cr₹145 Cr₹145 Cr₹145 Cr
Reserves₹321 Cr₹522 Cr₹709 Cr₹760 Cr₹813 Cr₹1.4k Cr
Borrowings₹2.1k Cr₹2.0k Cr₹1.5k Cr₹1.5k Cr₹1.8k Cr₹1.7k Cr
Other liabilities₹699 Cr₹822 Cr₹819 Cr₹636 Cr₹1.0k Cr₹858 Cr
Total liabilities₹3.2k Cr₹3.5k Cr₹3.2k Cr₹3.0k Cr₹3.8k Cr₹4.1k Cr
Fixed assets₹447 Cr₹484 Cr₹488 Cr₹452 Cr₹506 Cr₹628 Cr
Capital work in progress₹26 Cr₹32 Cr₹30 Cr₹34 Cr₹187 Cr₹98 Cr
Investments₹528 Cr₹128 Cr₹159 Cr₹10 Cr₹43 Cr₹40 Cr
Other assets₹2.2k Cr₹2.9k Cr₹2.5k Cr₹2.5k Cr₹3.0k Cr₹3.3k Cr
Total assets₹3.2k Cr₹3.5k Cr₹3.2k Cr₹3.0k Cr₹3.8k Cr₹4.1k 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, FIIs added +0.11 pp. The shareholder count shrank 4% to 49,306.

Promoters
74.7%
FIIs
0.3%
DIIs
1.0%
Public
24.0%

Since Jun 2025

  • FIIs +0.11 pp
  • DIIs −0.07 pp
  • Public −0.02 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.7%, FIIs 0.1%, DIIs 1.2%, Public 24.0%.Dec '23: Promoters 74.7%, FIIs 0.3%, DIIs 1.2%, Public 23.8%.Mar '24: Promoters 74.7%, FIIs 0.2%, DIIs 1.6%, Public 23.5%.Jun '24: Promoters 74.7%, FIIs 0.2%, DIIs 1.7%, Public 23.4%.Sep '24: Promoters 74.7%, FIIs 0.2%, DIIs 1.1%, Public 24.0%.Dec '24: Promoters 74.7%, FIIs 0.2%, DIIs 1.1%, Public 24.0%.Mar '25: Promoters 74.7%, FIIs 0.3%, DIIs 1.1%, Public 23.9%.Jun '25: Promoters 74.7%, FIIs 0.1%, DIIs 1.1%, Public 24.1%.Sep '25: Promoters 74.7%, FIIs 0.2%, DIIs 1.1%, Public 24.0%.Dec '25: Promoters 74.7%, FIIs 0.3%, DIIs 1.1%, Public 23.9%.Mar '26: Promoters 74.7%, FIIs 0.3%, DIIs 1.1%, Public 23.9%.Jun '26: Promoters 74.7%, FIIs 0.3%, DIIs 1.0%, Public 24.0%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Mukand above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Jamnalal Sons Pvt Ltd 19.92%unchanged
Baroda Industries Private Limited 12.69%unchanged
Bachhraj & Co Private Limited 10.35%unchanged
Bajaj Sevashram Private Ltd 9.62%unchanged
Niraj Bajaj 8.27%unchanged
Bajaj Holdings And Investment Limited 5.63%unchanged
Bachhraj Factories Private Limited 4.86%unchanged
Siddhant Commercials Private Limited 2.48%unchanged
Sanraj Nayan Investments Pvt Ltd 1.55%unchanged
LICI Asm Non Par Insurer1.02%−0.07 pp
Shekhar Bajaj 0.49%unchanged
Manish Santoshkumar Kejriwal 0.20%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 Mukand

Guides on how to read this kind of business and the numbers that matter.