Mukand share price & results
- Jun 2026
- Sept 2026
Bajaj Group steelmaker: alloy & stainless steel bars/wire rods, plus EOT cranes and heavy machinery.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,326 | +20.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 0.0 | −4.3 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 61.0 | +79.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 51.11 | −1.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 0.84 | −0.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 7.56 | +5.5 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +14.7% 1Y
1Y: ₹129.59 on 24 Oct 2025 → ₹148.69. High ₹185.92 (7 Oct 2026), low ₹115.96 (27 Mar 2026).
- Previous close
- ₹146.07
- Market cap
- ₹2.1k Cr
- 52-week range
- ₹115.96 – ₹185.92
- One year
- +12.24%
- Price to earnings (TTM to Jun 2026)
- 3.34×
- Return on equity (TTM to Jun 2026)
- 51.11%
Overview
- Symbol
- NSE:MUKANDLTD
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Mukand does
Based on the company's own presentations, annual report and earnings calls.
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
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +79% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,215 | 1,223 | 1,059 | 1,102 | 1,144 | 1,298 | 1,218 | 1,326 |
| Expenses | 1,145 | 1,158 | 1,003 | 1,055 | 1,067 | 1,224 | 1,242 | 1,326 |
| Operating profit | 70 | 64 | 56 | 48 | 77 | 74 | -24 | 0 |
| Operating margin | 6.0% | 5.0% | 5.0% | 4.3% | 7.0% | 6.0% | −2.0% | 0.0% |
| Other income | 10 | 10 | 19 | 41 | -1 | 5 | 522 | 112 |
| Interest | 32 | 30 | 32 | 33 | 36 | 38 | 37 | 34 |
| Depreciation | 13 | 12 | 13 | 13 | 13 | 14 | 14 | 14 |
| Profit before tax | 34 | 32 | 30 | 42 | 26 | 28 | 447 | 64 |
| Tax rate | 22.0% | 49.0% | 42.0% | 20.0% | 39.0% | 38.0% | −27.0% | 4.0% |
| Net profit | 27 | 16 | 17 | 34 | 16 | 17 | 568 | 61 |
| EPS (₹ per share) | 1.87 | 1.13 | 1.20 | 2.34 | 1.10 | 1.19 | 39.29 | 4.24 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 5,568 | 5,200 | 4,686 | 4,762 |
| Expenses | 5,754 | 4,909 | 4,434 | 4,588 |
| Operating profit | -184 | 290 | 251 | 175 |
| Other income | 586 | 16 | 43 | 567 |
| Interest | 178 | 131 | 125 | 144 |
| Depreciation | 52 | 48 | 49 | 54 |
| Profit before tax | 173 | 127 | 119 | 543 |
| Net profit | 171 | 102 | 86 | 635 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 141 | 145 | 145 | 145 | 145 | 145 |
| Reserves | 862 | 737 | 802 | 815 | 813 | 1,549 |
| Borrowings | 1,764 | 1,505 | 1,489 | 1,559 | 1,811 | 1,697 |
| Other liabilities | 774 | 797 | 637 | 1,016 | 1,007 | 790 |
| Total liabilities | 3,541 | 3,183 | 3,072 | 3,535 | 3,776 | 4,180 |
| Fixed assets | 481 | 447 | 441 | 529 | 506 | 456 |
| Capital work in progress | 32 | 30 | 34 | 33 | 187 | 55 |
| Investments | 207 | 275 | 121 | 30 | 43 | 259 |
| Other assets | 2,822 | 2,431 | 2,476 | 2,943 | 3,040 | 3,410 |
| Total assets | 3,541 | 3,183 | 3,072 | 3,535 | 3,776 | 4,180 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -262 | -105 | 174 | 77 | 168 | -518 |
| Cash from investing | 1,353 | 338 | 558 | 102 | -122 | 531 |
| Cash from financing | -1,071 | -212 | -736 | -165 | -75 | -20 |
| Net cash flow | 19 | 21 | -5 | 13 | -29 | -6 |
| Free cash flow | 369 | -275 | 793 | 27 | 64 | 32 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 70 | 38 | 34 | 42 | 32 | 28 |
| Inventory days | 221 | 182 | 133 | 161 | 238 | 277 |
| Days payable | 85 | 62 | 50 | 47 | 71 | 63 |
| Cash conversion cycle | 206 | 157 | 117 | 155 | 200 | 241 |
| Working capital days | 187 | 55 | 93 | 115 | 20 | 57 |
| Return on capital employed | −8.0% | 8.0% | −7.0% | 11.0% | 9.0% | 6.0% |
| Dividend payout | 31.0% | 17.0% | 16.0% | 28.0% | 33.0% | 7.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Specialty Steel contributes 97.0% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Specialty Steel 97.0%
₹1,321.46 crore
- Industrial Machinery & Engineering Contracts 3.0%
₹40.75 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Specialty Steel | 1,321.46 | 97.0% |
| Industrial Machinery & Engineering Contracts | 40.75 | 3.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹1,362.21 crore
- Intersegment adjustment
- Not reported
- Net segment revenue
- ₹1,362.21 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Industrial Machinery & Engineering Contracts shrank from 4% to 3% of revenue over the last two years.
| Segment | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Specialty Steel | — | — | 95% | — | — | — | 95% | 97% | — |
| Industrial Machinery & Engineering Contracts | 4% | 4% | 5% | — | 2% | 3% | 5% | 3% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
Ownership
Who owns it
Promoters hold 74.70% as of Sept 2026; institutions cut 0.69 pts since Jun 2026.
- Promoters 74.70%
- Foreign institutions 0.18%
- Domestic institutions 0.41%
- Public 24.71%
Who is on the register
Named in the Sep 2026 filing
Every holder of Mukand above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 19.92% | unchanged | |
| 12.69% | unchanged | |
| 10.35% | unchanged | |
| 9.62% | unchanged | |
| 8.27% | unchanged | |
| 5.63% | unchanged | |
| 4.86% | unchanged | |
| 2.48% | unchanged | |
| 1.55% | unchanged | |
| 0.49% | unchanged | |
| 0.20% | unchanged | |
| 0.17% | 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.
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