Malpani Pipes and Fittings (BSE: MALPANI) had a P/E of 6.9× on 6 Nov 2026, below the industry P/E of 22.1×, and the shares are 28% below their 52-week high. It earns ROCE of 23% and ROE of 18%, and sales and net profit grew 25% and 63% a year over 3 years. Debt is 0.40× equity. It is listed on an SME platform with a market cap of ₹62 Cr, ranked 161st of 204 Specialty Chemicals companies by market cap; the shares fell 31% over the past year.
- ₹59.90
- ₹59.90
- ₹57.99
- ₹55.01
- 3.2K
Health check
- ReturnsBehind
−31.1% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 6.9 vs industry 22.1.
- GrowthStrong
Sales +25.1%, profit +63.1% a year over 3 years.
- ProfitabilityAverage
ROCE 23.1% vs peer median 24.4%.
- Balance sheetFair
Debt 0.40× equity, interest covered 4.9×, Piotroski 8 of 9.
- Red flags1 to check
Quarterly profit down 10.4% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹62 Cr
- Small cap
- P/E
- 6.9
- Industry 22.1
- Price to book
- 1.12
- Peers 13.33
- Dividend yield
- 0.00%
- ROE
- 17.6%
- Peers 23.0%
- ROCE
- 23.1%
- Peers 24.4%
- Debt to equity
- 0.40
- Debt ₹22 Cr
- EPS (TTM)
- ₹8.38
- OPM (TTM)
- 10.2%
- Net margin 5.5%
- Sales growth
- +12.3%
- Latest quarter vs a year ago
- Profit growth
- −10.4%
- Latest quarter vs a year ago
- Price to sales
- 0.38
- EV/EBITDA 4.9
Strengths and risks
Strengths
- Return on capital employed of 23.1%.
- P/E of 6.9 against an industry P/E of 22.1.
Risks to check
- Quarterly profit down 10.4% on a year ago.
About Malpani Pipes and Fittings
Malpani Pipes and Fittings Limited manufactures and supplies high-grade plastic pipes in India. It offers high-density polyethylene (HDPE) pipes, medium-density polyethylene (MDPE) pipes, and linear low-density polyethylene (LLDPE) pipes under the Volstar brand name. The company also provides gas, drip irrigation, lateral, and PLB HDPE telecom ducts pipes; PVC pipes and fittings; and HDPE sprinkler pipes and fittings, and sewerage pipe. In addition, it…
- Headquarters
- Ratlam
- Employees
- 87
- Sector
- Basic Materials
- ISIN
- INE0YON01014
- Website
- malpanipipes.com
Price range
- Avg volume (3M)
- 4.2K
- 1-year return
- minus 31.1%
- From 52-week high
- minus 28.4%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| MALPANIMalpani Pipes and Fittings | 57.99 | plus 5.42% | 62 | 6.9 | 4.9 | 23.1% | 10.2% | 0.40 | 25.1% | minus 31.1% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
This company doesn’t report these figures in a format we can read yet.
Profit & loss
- Sales CAGR 3Y
- +25.1%
- Profit CAGR 3Y
- +63.1%
- ROE
- 17.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 82.3 | 141 | 140 | 161 | |
| – | +71.2% | minus 0.4% | +14.8% | |
| 77.8 | 127 | 126 | 144 | |
| 4.5 | 13.5 | 14.8 | 17.3 | |
| 5.5% | 9.6% | 10.5% | 10.7% | |
| −0.1 | −0.3 | 0.4 | −0.4 | |
| 1.2 | 2.4 | 3 | 3.1 | |
| 0.4 | 0.8 | 1.3 | 1.6 | |
| 2.8 | 10 | 10.9 | 12.2 | |
| 24.8% | 26.6% | 25.8% | 25.8% | |
| 2.1 | 7.4 | 8.1 | 9 | |
| – | +254.1% | +9.5% | +11.9% | |
| 1.93 | 6.83 | 9.68 | – |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.9 | 2.4 | 10.8 | 10.8 | |
| 3.9 | 12.4 | 35.9 | 44.9 | |
| 19.6 | 30.3 | 29.8 | 22.2 | |
| 13.5 | 16.2 | 35.6 | 43.9 | |
| 38.9 | 61.3 | 112 | 122 | |
| 7.3 | 10.6 | 15.5 | 19 | |
| – | 3.5 | 3.4 | – | |
| 1.9 | 2.9 | 3 | – | |
| 2.6 | 0.3 | 0.3 | 0.2 | |
| 27.1 | 44.1 | 89.7 | 103 | |
| 38.9 | 61.3 | 112 | 122 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −5.7 | −8 | −14 | 15.8 | |
| −1.4 | −3.9 | −6 | −4.9 | |
| 9.4 | 9.7 | 20.1 | −11.1 | |
| 2.3 | −2.3 | 0.1 | −0.2 | |
| −1.3 | −4.1 | −6.3 | −5.1 | |
| −6.9 | −12.1 | −20.2 | 10.7 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders. Institutions hold about 0.1% (Yahoo estimate).
Major shareholders
Filings & events
News
No recent news coverage found.