MMTC (MMTC) had a P/E of 17.9× on 6 Nov 2026, above the industry P/E of 14.8×, and the shares are 32% below their 52-week high. Sales and net profit fell 90% and 37% a year over 3 years; its ROCE of 30% is the second-highest among the 7 largest Conglomerates peers, though net profit is above operating profit, which points to a one-off gain. It carries very little debt. It is a small-cap company with a market cap of ₹8,000 Cr, ranked 10th of 52 Conglomerates companies by market cap; the shares fell 20% over the past year.
- ₹53.67
- ₹53.75
- ₹52.57
- ₹54.14
- 11.3 L
Health check
- ReturnsBehind
−19.8% over a year, better than 1 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthShrinking
Sales −90.1%, profit −37.2% a year over 3 years.
- ProfitabilityStrong
ROCE 29.7% vs peer median 12.8%.
- Balance sheetSolid
Practically debt-free, Piotroski 6 of 9.
- Red flags4 to check
Quarterly sales down 50.0% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹8,000 Cr
- Small cap
- P/E
- 17.9
- Industry 14.8
- Price to book
- 3.77
- Peers 5.18
- Dividend yield
- 0.00%
- ROE
- 20.3%
- Peers 11.6%
- ROCE
- 29.7%
- Peers 12.8%
- Debt to equity
- 0.00
- Debt ₹2.42 Cr
- EPS (TTM)
- ₹2.98
- Face value ₹1
- OPM (TTM)
- −6547.6%
- Net margin 16386.8%
- Sales growth
- −50.0%
- Latest quarter vs a year ago
- Profit growth
- +135.5%
- Latest quarter vs a year ago
- Price to sales
- 2930.22
- EV/EBITDA −35.2
Strengths and risks
Strengths
- Return on equity of 20.3%.
- Return on capital employed of 29.7%.
- Practically debt-free.
- Quarterly profit up 135.5% on a year ago.
Risks to check
- Quarterly sales down 50.0% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- 32% below its 52-week high.
- Interest coverage of only −134.9×.
About MMTC
MMTC Limited operates as a trading company in Asia, Europe, Africa, the Middle East, Latin America, and North America. It operates through Minerals, Precious Metals, Metals, Agro Products, Coal & Hydrocarbon, Fertilizer, and General Trade/others segments. The company engages in the export of minerals; and import of precious metals, non-ferrous metals, fertilizers, agro products, coal and hydrocarbon, etc. It also trades in minerals, metals, fertilizers,…
- Headquarters
- New Delhi
- Employees
- 245
- Sector
- Industrials
- ISIN
- INE123F01029
- Website
- mmtclimited.com
Price range
- Avg volume (3M)
- 28 L
- 1-year return
- minus 19.8%
- From 52-week high
- minus 31.9%
Peers · Conglomerates
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SRFSRF | 2,460.40 | minus 0.99% | 72,928 | 31.9 | 4.76 | 14.5% | 16.0% | 24.2% | 1.8% | −5.3% | 0.41% | minus 15.5% |
| TIINDIATube Investments of India | 2,170.00 | minus 5.65% | 42,005 | 62.9 | 5.18 | 12.8% | 9.6% | 9.9% | 15.5% | −12.6% | 0.16% | minus 23.1% |
| GODREJINDGodrej Industries | 955.85 | minus 2.40% | 32,198 | 27.4 | 2.88 | 12.3% | 11.6% | 10.4% | 9.8% | 8.4% | 0.00% | minus 11.6% |
| 3MINDIA3M India | 27,570.00 | minus 5.98% | 31,058 | 57.0 | 17.57 | 47.5% | 28.9% | 18.4% | 8.7% | 5.0% | 0.58% | minus 18.3% |
| THERMAXThermax | 2,746.30 | minus 17.27% | 30,937 | 52.6 | 5.58 | 15.3% | 13.7% | 12.4% | 9.8% | 17.0% | 0.51% | plus 1.5% |
| BEMLBEML | 1,953.20 | minus 1.89% | 16,268 | 28.0 | 5.66 | 5.9% | 4.9% | 7.3% | 3.0% | −3.6% | 0.91% | minus 7.4% |
| NAVANava | 529.15 | minus 0.99% | 14,991 | 19.8 | 1.71 | 11.1% | 9.6% | 38.4% | 6.8% | −5.3% | 1.61% | minus 12.1% |
| MMTCMMTC | 53.33 | minus 1.50% | 8,000 | 17.9 | 3.77 | 29.7% | 20.3% | −6547.6% | −90.1% | −37.2% | 0.00% | minus 19.8% |
| Median of 7 peers | – | −2.40% | 31,058 | 31.9 | 5.18 | 12.8% | 11.6% | 12.4% | 8.7% | −3.6% | 0.51% | −12.1% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1.4 | 1.1 | 0.3 | 0.6 | 0.7 | |
| 24.5 | 23.2 | 23.4 | 114 | 20.9 | |
| −23.1 | −22.1 | −23 | −114 | −20.2 | |
| −1698.5% | −2004.5% | −6767.6% | −18606.6% | −2969.1% | |
| 77.8 | 74.6 | 70.3 | 130 | 156 | |
| 0.2 | 0 | 0.3 | 0.2 | 0.1 | |
| 1 | 1 | 1 | 2.2 | 0.7 | |
| 0 | 378 | −0.4 | 96.1 | −0.1 | |
| 53.5 | 430 | 45.7 | 110 | 135 | |
| 17.2% | 60.2% | −1.2% | −14.7% | 22.8% | |
| 44.3 | 171 | 46.3 | 126 | 104 | |
| 0.30 | 1.14 | 0.31 | 0.84 | 0.69 |
Profit & loss
- Sales CAGR 3Y
- −90.1%
- Profit CAGR 3Y
- −37.2%
- EPS CAGR 3Y
- −37.2%
- ROE
- 20.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,527 | 5.1 | 2.7 | 3.4 | |
| – | minus 99.9% | minus 47.6% | +26.8% | |
| 3,634 | 165 | 141 | 109 | |
| −106 | −160 | −138 | −105 | |
| −3.0% | −3122.0% | −5139.0% | −3085.3% | |
| 581 | 322 | 277 | 352 | |
| 121 | 0.7 | 0.9 | 0.8 | |
| 5.3 | 4.3 | 4.5 | 5.1 | |
| 1,417 | 43.1 | −18.9 | 398 | |
| 1,766 | 200 | 114 | 639 | |
| 11.5% | 3.9% | 24.2% | 39.3% | |
| 1,562 | 192 | 86.6 | 387 | |
| – | minus 87.7% | minus 54.9% | +347.2% | |
| 10.42 | 1.28 | 0.58 | 2.58 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 150 | 150 | 150 | 150 | |
| 1,262 | 1,434 | 1,552 | 1,971 | |
| 203 | 4.7 | 2.4 | 2.4 | |
| 2,064 | 1,796 | 1,774 | 673 | |
| 3,678 | 3,384 | 3,478 | 2,796 | |
| 29.9 | 25.9 | 21.7 | 16.2 | |
| – | – | 0 | – | |
| 26.3 | 34.4 | 69 | 103 | |
| 1,287 | 1,268 | 1,310 | 1,757 | |
| 2,335 | 2,055 | 2,078 | 920 | |
| 3,678 | 3,384 | 3,478 | 2,796 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 754 | −353 | −367 | −605 | |
| 1,959 | 198 | 278 | 579 | |
| −2,547 | −43.4 | −0.9 | −0.8 | |
| 166 | −198 | −90 | −27.1 | |
| −0.3 | −0.4 | −0.2 | −0.1 | |
| 754 | −353 | −367 | −605 |
Shareholding pattern
- Promoters89.93%
- Public10.07%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 89.93% | 10.07% | 0.00 | |
| 30 Jun 2026 | 89.93% | 10.07% | 0.00 | |
| 31 Mar 2026 | 89.93% | 10.07% | 0.00 | |
| 31 Dec 2025 | 89.93% | 10.07% | 0.00 | |
| 30 Sep 2025 | 89.93% | 10.07% | – |
Major shareholders
Filings & events
News
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