Fortune India 500 2025 edition
Rank#468- Total income
- ₹5,046 Cr
- Profit
- ₹76 Cr
Last year #406
Mukand Limited - machinery and equipment in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
Active Listed - NSE: MUKANDLTD · BSE: 500460 Public Limited Company machinery and equipment Fortune India 500 · #468
Market Cap
₹2,266 Cr
MUKANDLTD · NSE
Share Price
₹153.38
-2.19% today
Revenue
₹4,890 Cr
FY 2025-26 · -0.0% YoY
EBITDA
₹171 Cr
Margin 3.5%
Net Profit
₹68.88 Cr
FY 2025-26 · -0.4% YoY
P/E (TTM)
3.8x
P/B 1.6x
ROE
5.6%
ROCE 4.3%
Debt / Equity
1.31
Interest cover 138.3x
About Mukand Limited
Data last updated:
Mukand Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the material handling and storage equipment segment of the machinery and industrial equipment sector. It was incorporated on 29 November 1937 and has been in existence for over 89 years.
Mukand is ranked #468 on the Fortune India 500 (2025).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L99999MH1937PLC002726. Its GSTIN is 27AAACM5008R1Z5 (Maharashtra). The company holds 36 GST registrations, of which 19 are active. Its shares are listed on BSE: 500460 and NSE: MUKANDLTD.
The company has an authorised share capital of ₹210.1 Cr and a paid-up capital of ₹144.5 Cr. It was formerly known as Mukand Lron & Steel Works Limited. It is led by directors including Niraj Ramkrishna Bajaj (Managing Director) and Nirav Nayan Bajaj (Whole-Time Director).
Its last annual general meeting (AGM) was held on 08 August 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Bajaj Bhavanjamnalal Bajaj Marg 226 Nariman Point, Mumbai, Maharashtra, India – 400021.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹4,889.83 Cr, a growth of 0% compared to the previous year. For the same year it recorded a net profit of ₹68.88 Cr (net margin 1.4%) and EBITDA of ₹171.03 Cr (EBITDA margin 3.5%). The net worth stands at ₹1,527.96 Cr (up 60% YoY). Total assets are valued at ₹3,292.35 Cr (up 27.8% YoY).
The company has about 2,341 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary and 1 joint venture.
The company is associated with 1 brand: Mukand. As per MCA filings, the company has open charges of ₹369.12 Cr and satisfied charges of ₹4,772.33 Cr on record. Court records list 442 cases involving the company, including 260 filed by the company and 182 filed against it; 59 cases are pending. The company has 17 deals on record (15 market trades, 2 secondary share transfers); the latest was in July 2022. Its 8 peer companies in the Metals and Minerals industry (Industrial Products Manufacturers, Steel), with the same principal business activity (metal and metal products) are compared by revenue, 5 larger and 3 smaller; the largest is Godawari Power and Ispat Limited with revenue of ₹5,471.71 Cr. The company has 3 MSME Form 1 returns on record between 2019 and 2020, listing 36 overdue payments to 35 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mukand.com.
Company details
CIN L99999MH1937PLC002726
Registration Number 002726
Incorporation Date 29 November 1937
ROC Mumbai
Listing Status Listed (BSE: 500460, NSE: MUKANDLTD)
Company Status Active
Date of Last AGM 08 August 2025
Date of Balance Sheet 31 March 2025
Compliance Status Active Compliant
Key People
Niraj Ramkrishna Bajaj Managing Director Nirav Nayan Bajaj Whole-Time Director Sankaran Radhakrishnan Director Recognitions & Rankings of Mukand
Contact details
Mukand Limited's registered office is in Mumbai, Maharashtra. Its website is mukand.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressBajaj Bhavanjamnalal Bajaj Marg 226 Nariman Point, Mumbai, Maharashtra, India – 400021
- IndustryMachinery and Equipment, Material Handling & Storage Equipment
To see the full contact details of Mukand Limited, buy the company report.
Comprehensive company report
Mukand Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Mukand operates one associated brand: Mukand. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of alloy steel, stainless steel, and heavy machinery | mukand.com |
Business activity
The main business activity of Mukand is manufacturing. In detail, this covers metal and metal products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products |
To see the full business activity and turnover split of Mukand Limited, buy the company report.
Financials of Mukand Limited
FY 2025-26 filings availableMukand Limited reported revenue of ₹4,889.83 Cr (up 0% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹4,890 Cr
-0.0% YoY
EBITDA
₹171 Cr
-39.8% YoY
Profit After Tax
₹68.88 Cr
-0.3% YoY
Net Worth
₹1,528 Cr
+60.0% YoY
Total Assets
₹3,292 Cr
+27.8% YoY
Total Debt
₹1,691 Cr
+8.8% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 4,890 | 4,890 | 5,175 | 5,568 | 4,643 | 2,726 | 2,923 |
| Revenue growth | -0.0% | -5.5% | -7.1% | +19.9% | +70.3% | -6.7% | - |
| EBITDA | 171 | 284 | 292 | (184) | 238 | (502) | 74.69 |
| EBITDA margin | +3.5% | +5.8% | +5.6% | -3.3% | +5.1% | -18.4% | +2.6% |
| Profit before tax | 512 | 118 | 127 | 172 | 151 | (155) | (296) |
| Net profit | 68.88 | 69.12 | 103 | (387) | 77.69 | (884) | (254) |
| Net profit margin | +1.4% | +1.4% | +2.0% | -7.0% | +1.7% | -32.4% | -8.7% |
| EPS (₹) | 41.81 | 5.25 | 7.19 | 11.89 | 12.20 | (14.41) | (16.96) |
| Balance sheet | |||||||
| Total assets | 3,292 | 2,576 | 2,446 | 2,422 | 2,744 | 2,577 | 3,460 |
| Net worth | 1,528 | 955 | 910 | 859 | 672 | 467 | 674 |
| Total debt | 1,691 | 1,554 | 1,483 | 1,499 | 2,031 | 2,072 | 2,751 |
| Cash & bank | 19.86 | 25.71 | 53.21 | 41.79 | 210 | 46.36 | 78.15 |
| Net working capital | 2,276 | 1,740 | 1,798 | 1,576 | 1,885 | 1,514 | 1,554 |
| Cash flow | |||||||
| Cash from operations | (441) | 180 | 64.94 | 106 | (102) | (328) | 150 |
| Cash from investing | 472 | (124) | 99.04 | 619 | 280 | 1,345 | 11.58 |
| Cash from financing | (36.84) | (85.76) | (152) | (728) | (166) | (997) | (159) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,362 | 1,269 | 1,329 | 1,161 | 1,129 | 1,107 | 1,262 | 1,263 |
| Revenue growth (YoY) | +20.7% | +14.7% | +5.3% | -8.1% | -10.3% | - | - | - |
| Other income | 105 | 508 | 3.91 | 2.76 | 38.68 | 5.55 | 1.54 | 3.31 |
| EBITDA | 7.18 | (17.49) | 72.14 | 69.14 | 47.25 | 65.13 | 72.27 | 76.08 |
| EBITDA margin | +0.5% | -1.4% | +5.4% | +6.0% | +4.2% | +5.9% | +5.7% | +6.0% |
| Depreciation | 17.93 | 18.02 | 15.51 | 14.50 | 14.37 | 13.26 | 12.66 | 13.62 |
| Interest | 34.07 | 39.06 | 39.72 | 37.53 | 33.89 | 33.29 | 31.83 | 32.58 |
| Profit before tax | 60.22 | 434 | 20.82 | 19.87 | 37.67 | 24.13 | 29.32 | 33.19 |
| Tax | 2.86 | (121) | 10.56 | 9.99 | 8.64 | 13.23 | 14.39 | 7.92 |
| Net profit | 57.36 | 555 | 10.26 | 9.88 | 29.03 | 10.90 | 14.93 | 25.27 |
| EPS (₹) | 3.97 | 38.41 | 0.71 | 0.68 | 2.01 | 0.75 | 1.03 | 1.78 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 4,892 | 4,912 | 5,218 | 5,618 | 4,623 | 2,681 | 2,818 |
| Revenue growth | -0.4% | -5.9% | -7.1% | +21.5% | +72.5% | -4.9% | - |
| EBITDA | 173 | 256 | 292 | (164) | 243 | (203) | 107 |
| EBITDA margin | +3.5% | +5.2% | +5.6% | -2.9% | +5.3% | -7.6% | +3.8% |
| Profit before tax | 543 | 129 | 128 | 194 | 106 | 87.79 | (255) |
| Net profit | 99.91 | 81.58 | 104 | (350) | 100 | (580) | (197) |
| Net profit margin | +2.0% | +1.7% | +2.0% | -6.2% | +2.2% | -21.6% | -7.0% |
| EPS (₹) | 43.92 | 6.02 | 7.17 | 12.84 | 8.64 | 3.25 | (13.83) |
| Balance sheet | |||||||
| Total assets | 3,443 | 2,578 | 2,488 | 2,449 | 2,805 | 2,756 | 3,428 |
| Net worth | 1,699 | 965 | 952 | 887 | 1,009 | 901 | 861 |
| Total debt | 1,691 | 1,554 | 1,483 | 1,499 | 1,759 | 1,817 | 2,533 |
| Cash & bank | 19.50 | 25.60 | 51.44 | 38.96 | 208 | 35.99 | 66.99 |
| Net working capital | 2,219 | 1,741 | 1,752 | 1,529 | 1,976 | 1,492 | 1,302 |
| Cash flow | |||||||
| Cash from operations | (518) | 168 | 76.61 | 174 | (105) | (262) | 121 |
| Cash from investing | 531 | (122) | 102 | 558 | 338 | 1,353 | 15.59 |
| Cash from financing | (19.50) | (74.97) | (165) | (736) | (212) | (1,071) | (136) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,326 | 1,218 | 1,298 | 1,144 | 1,102 | 1,059 | 1,223 | 1,215 |
| Revenue growth (YoY) | +20.3% | +15.0% | +6.2% | -5.8% | -7.3% | - | - | - |
| Other income | 112 | 522 | 9.49 | 7.72 | 42.49 | 18.87 | 10.47 | 9.84 |
| Total expenses | 1,326 | 1,242 | 1,228 | 1,076 | 1,056 | 1,003 | 1,158 | 1,145 |
| EBITDA | (0.21) | (24.06) | 70.36 | 67.85 | 45.90 | 56.09 | 64.49 | 69.62 |
| EBITDA margin | -0.0% | -2.0% | +5.5% | +6.0% | +4.2% | +5.3% | +5.3% | +5.7% |
| Depreciation | 13.71 | 14.00 | 13.64 | 13.40 | 13.29 | 12.94 | 12.42 | 13.41 |
| Interest | 34.07 | 37.22 | 38.44 | 36.28 | 32.64 | 32.06 | 30.41 | 31.56 |
| Profit before tax | 64.19 | 447 | 27.77 | 25.89 | 42.46 | 29.96 | 32.13 | 34.49 |
| Tax | 2.86 | (121) | 10.56 | 9.99 | 8.64 | 12.57 | 15.82 | 7.43 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,362 | 1,269 | 1,329 | 1,161 | 1,129 | 1,107 | 1,262 | 1,263 |
| Revenue growth (YoY) | +20.7% | +14.7% | +5.3% | -8.1% | -10.3% | - | - | - |
| Other income | 105 | 508 | 3.91 | 2.76 | 38.68 | 5.55 | 1.54 | 3.31 |
| EBITDA | 7.18 | (17.49) | 72.14 | 69.14 | 47.25 | 65.13 | 72.27 | 76.08 |
| EBITDA margin | +0.5% | -1.4% | +5.4% | +6.0% | +4.2% | +5.9% | +5.7% | +6.0% |
| Depreciation | 17.93 | 18.02 | 15.51 | 14.50 | 14.37 | 13.26 | 12.66 | 13.62 |
| Interest | 34.07 | 39.06 | 39.72 | 37.53 | 33.89 | 33.29 | 31.83 | 32.58 |
| Profit before tax | 60.22 | 434 | 20.82 | 19.87 | 37.67 | 24.13 | 29.32 | 33.19 |
| Tax | 2.86 | (121) | 10.56 | 9.99 | 8.64 | 13.23 | 14.39 | 7.92 |
| Net profit | 57.36 | 555 | 10.26 | 9.88 | 29.03 | 10.90 | 14.93 | 25.27 |
| EPS (₹) | 3.97 | 38.41 | 0.71 | 0.68 | 2.01 | 0.75 | 1.03 | 1.78 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 4,890 | 4,890 | 5,175 | 5,568 | 4,643 | 2,726 | 2,923 |
| Revenue growth | -0.0% | -5.5% | -7.1% | +19.9% | +70.3% | -6.7% | - |
| Other income | 554 | 14.43 | 16.03 | 585 | 120 | 748 | 68.24 |
| Total expenses | 4,719 | 4,606 | 4,883 | 5,751 | 4,405 | 3,228 | 2,848 |
| Employee cost | 237 | 226 | 219 | 205 | 202 | 190 | 190 |
| EBITDA | 171 | 284 | 292 | (184) | 238 | (502) | 74.69 |
| EBITDA margin | +3.5% | +5.8% | +5.6% | -3.3% | +5.1% | -18.4% | +2.6% |
| Depreciation | 62.40 | 50.73 | 49.72 | 52.38 | 45.35 | 68.52 | 75.41 |
| Interest | 150 | 130 | 131 | 177 | 161 | 332 | 364 |
| Profit before tax | 512 | 118 | 127 | 172 | 151 | (155) | (296) |
| Tax | (92.02) | 42.41 | 22.98 | 0.49 | (25.35) | 49.07 | (56.57) |
| Net profit | 68.88 | 69.12 | 103 | (387) | 77.69 | (884) | (254) |
| Net profit margin | +1.4% | +1.4% | +2.0% | -7.0% | +1.7% | -32.4% | -8.7% |
| EPS (₹) | 41.81 | 5.25 | 7.19 | 11.89 | 12.20 | (14.41) | (16.96) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 150 | 150 | 150 | 150 | 150 | 145 | 145 |
| Reserves & surplus | 1,378 | 805 | 760 | 709 | 522 | 321 | 529 |
| Shareholders' funds (net worth) | 1,528 | 955 | 910 | 859 | 672 | 467 | 674 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 0.00 | 0.00 | 15.94 | 0.00 | 0.00 | 4.50 | 663 |
| Unsecured loans | 1,691 | 1,554 | 1,467 | 1,499 | 2,031 | 2,067 | 2,088 |
| Total debt | 1,691 | 1,554 | 1,483 | 1,499 | 2,031 | 2,072 | 2,751 |
| Total liabilities | 3,292 | 2,576 | 2,446 | 2,422 | 2,744 | 2,577 | 3,460 |
| Assets | |||||||
| Gross block | 1,959 | 1,813 | 1,677 | 1,688 | 1,604 | 1,541 | 1,550 |
| Net block | 628 | 537 | 452 | 488 | 484 | 447 | 516 |
| Capital work in progress | 97.76 | 142 | 34.15 | 29.72 | 32.34 | 26.13 | 30.21 |
| Investments | 39.55 | 29.38 | 9.83 | 159 | 128 | 528 | 1,214 |
| Inventories | 2,402 | 2,008 | 1,590 | 1,549 | 1,461 | 1,111 | 1,367 |
| Sundry debtors | 423 | 427 | 533 | 463 | 492 | 517 | 418 |
| Cash & bank balances | 19.86 | 25.71 | 53.21 | 41.79 | 210 | 46.36 | 78.15 |
| Loans & advances | 216 | 245 | 206 | 278 | 503 | 474 | 690 |
| Total current assets | 3,061 | 2,705 | 2,382 | 2,332 | 2,666 | 2,149 | 2,554 |
| Total current liabilities | 785 | 966 | 584 | 756 | 781 | 635 | 999 |
| Net working capital | 2,276 | 1,740 | 1,798 | 1,576 | 1,885 | 1,514 | 1,554 |
| Total assets | 3,292 | 2,576 | 2,446 | 2,422 | 2,744 | 2,577 | 3,460 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 21.60 | 51.02 | 39.36 | 42.30 | 30.51 | 9.99 | 7.80 |
| Net cash from operating activities | (441) | 180 | 64.94 | 106 | (102) | (328) | 150 |
| Net cash from investing activities | 472 | (124) | 99.04 | 619 | 280 | 1,345 | 11.58 |
| Net cash from financing activities | (36.84) | (85.76) | (152) | (728) | (166) | (997) | (159) |
| Net change in cash | (5.88) | (29.42) | 11.65 | (2.94) | 11.79 | 19.89 | 2.19 |
| Closing cash | 19.86 | 25.71 | 53.21 | 41.79 | 210 | 46.36 | 78.15 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -0.0% | -5.5% | -7.1% | +19.9% | +70.3% | -6.7% | - |
| EBITDA growth | -39.8% | -2.7% | +259.1% | -177.1% | +147.4% | -772.4% | - |
| PBT growth | +332.9% | -6.7% | -26.4% | +14.1% | +9998.0% | +47.8% | -87.3% |
| Net income growth | -0.4% | -32.8% | +126.6% | -598.4% | +108.8% | -247.5% | - |
| Revenue CAGR (3Y) | -4.2% | +1.7% | +23.8% | +24.0% | +8.0% | -7.4% | +2.5% |
| EBITDA CAGR (3Y) | - | +6.1% | - | - | +17.3% | - | -40.9% |
| Profitability & leverage | |||||||
| Net income margin | +12.4% | +1.6% | +2.0% | +3.1% | +3.8% | -7.5% | -8.2% |
| Return on capital employed | +4.3% | +9.9% | +10.6% | -8.1% | +8.0% | -17.9% | +1.9% |
| Return on net worth | +5.6% | +8.2% | +11.8% | -50.9% | +13.8% | -156.1% | -30.3% |
| Debt / equity | 1.31 | 1.63 | 1.69 | 2.30 | 3.60 | 4.23 | 3.34 |
| Long-term debt / equity | 0.15 | 0.82 | 1.62 | 1.52 | 2.32 | 3.20 | 2.17 |
| Interest cover | 138.27 | 55.52 | 54.27 | -75.00 | 83.68 | -58.24 | -50,551.39 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.59 | 2.80 | 3.08 | 3.38 | 2.95 | 1.76 | 1.94 |
| Inventory turnover | 2.22 | 2.72 | 3.30 | 3.70 | 3.61 | 2.20 | 2.23 |
| Debtors turnover | 11.51 | 10.19 | 10.39 | 11.66 | 9.20 | 5.83 | 6.69 |
| EPS (₹) | 41.81 | 5.25 | 7.19 | 11.89 | 12.20 | (14.41) | (16.96) |
| Dividend per share (₹) | 3.00 | 2.00 | 2.00 | 2.00 | 1.50 | 1.00 | 0.00 |
| Book value per share (₹) | 105.34 | 65.71 | 62.61 | 59.08 | 46.12 | 32.71 | 47.42 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,326 | 1,218 | 1,298 | 1,144 | 1,102 | 1,059 | 1,223 | 1,215 |
| Revenue growth (YoY) | +20.3% | +15.0% | +6.2% | -5.8% | -7.3% | - | - | - |
| Other income | 112 | 522 | 9.49 | 7.72 | 42.49 | 18.87 | 10.47 | 9.84 |
| Total expenses | 1,326 | 1,242 | 1,228 | 1,076 | 1,056 | 1,003 | 1,158 | 1,145 |
| EBITDA | (0.21) | (24.06) | 70.36 | 67.85 | 45.90 | 56.09 | 64.49 | 69.62 |
| EBITDA margin | -0.0% | -2.0% | +5.5% | +6.0% | +4.2% | +5.3% | +5.3% | +5.7% |
| Depreciation | 13.71 | 14.00 | 13.64 | 13.40 | 13.29 | 12.94 | 12.42 | 13.41 |
| Interest | 34.07 | 37.22 | 38.44 | 36.28 | 32.64 | 32.06 | 30.41 | 31.56 |
| Profit before tax | 64.19 | 447 | 27.77 | 25.89 | 42.46 | 29.96 | 32.13 | 34.49 |
| Tax | 2.86 | (121) | 10.56 | 9.99 | 8.64 | 12.57 | 15.82 | 7.43 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 4,892 | 4,912 | 5,218 | 5,618 | 4,623 | 2,681 | 2,818 |
| Revenue growth | -0.4% | -5.9% | -7.1% | +21.5% | +72.5% | -4.9% | - |
| Other income | 574 | 52.47 | 15.60 | 585 | 39.12 | 667 | 52.23 |
| Total expenses | 4,719 | 4,656 | 4,925 | 5,783 | 4,380 | 2,884 | 2,712 |
| Employee cost | 234 | 226 | 219 | 205 | 190 | 189 | 189 |
| EBITDA | 173 | 256 | 292 | (164) | 243 | (203) | 107 |
| EBITDA margin | +3.5% | +5.2% | +5.6% | -2.9% | +5.3% | -7.6% | +3.8% |
| Depreciation | 54.33 | 49.71 | 48.18 | 51.19 | 44.78 | 68.52 | 75.41 |
| Interest | 150 | 130 | 131 | 175 | 132 | 307 | 338 |
| Profit before tax | 543 | 129 | 128 | 194 | 106 | 87.79 | (255) |
| Tax | (92.02) | 42.21 | 24.50 | 8.79 | (16.42) | 41.79 | (59.03) |
| Net profit | 99.91 | 81.58 | 104 | (350) | 100 | (580) | (197) |
| Net profit margin | +2.0% | +1.7% | +2.0% | -6.2% | +2.2% | -21.6% | -7.0% |
| EPS (₹) | 43.92 | 6.02 | 7.17 | 12.84 | 8.64 | 3.25 | (13.83) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 150 | 150 | 150 | 150 | 147 | 145 | 145 |
| Reserves & surplus | 1,549 | 815 | 802 | 737 | 862 | 756 | 716 |
| Shareholders' funds (net worth) | 1,699 | 965 | 952 | 887 | 1,009 | 901 | 861 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.50 | 587 |
| Unsecured loans | 1,691 | 1,554 | 1,483 | 1,499 | 1,759 | 1,813 | 1,946 |
| Total debt | 1,691 | 1,554 | 1,483 | 1,499 | 1,759 | 1,817 | 2,533 |
| Total liabilities | 3,443 | 2,578 | 2,488 | 2,449 | 2,805 | 2,756 | 3,428 |
| Assets | |||||||
| Gross block | 1,714 | 1,777 | 1,650 | 1,600 | 1,583 | 1,541 | 1,550 |
| Net block | 456 | 529 | 441 | 447 | 481 | 447 | 516 |
| Capital work in progress | 55.17 | 33.06 | 34.15 | 29.71 | 31.61 | 26.13 | 30.21 |
| Investments | 259 | 29.71 | 121 | 275 | 207 | 715 | 1,429 |
| Inventories | 2,384 | 2,008 | 1,494 | 1,447 | 1,442 | 1,111 | 1,367 |
| Sundry debtors | 374 | 434 | 599 | 518 | 480 | 517 | 420 |
| Cash & bank balances | 19.50 | 25.60 | 51.44 | 38.96 | 208 | 35.99 | 66.99 |
| Loans & advances | 180 | 230 | 191 | 259 | 582 | 438 | 429 |
| Total current assets | 2,957 | 2,698 | 2,336 | 2,262 | 2,712 | 2,102 | 2,283 |
| Total current liabilities | 737 | 956 | 584 | 733 | 736 | 610 | 981 |
| Net working capital | 2,219 | 1,741 | 1,752 | 1,529 | 1,976 | 1,492 | 1,302 |
| Total assets | 3,443 | 2,578 | 2,488 | 2,449 | 2,805 | 2,756 | 3,428 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 21.49 | 50.37 | 36.58 | 41.32 | 20.67 | 0.92 | 0.78 |
| Net cash from operating activities | (518) | 168 | 76.61 | 174 | (105) | (262) | 121 |
| Net cash from investing activities | 531 | (122) | 102 | 558 | 338 | 1,353 | 15.59 |
| Net cash from financing activities | (19.50) | (74.97) | (165) | (736) | (212) | (1,071) | (136) |
| Net change in cash | (6.13) | (28.88) | 12.66 | (4.74) | 20.65 | 18.93 | 0.14 |
| Closing cash | 19.50 | 25.60 | 51.44 | 38.96 | 208 | 35.99 | 66.99 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -0.4% | -5.9% | -7.1% | +21.5% | +72.5% | -4.9% | - |
| EBITDA growth | -32.4% | -12.4% | +277.7% | -167.6% | +219.7% | -290.6% | - |
| PBT growth | +320.2% | +0.8% | -34.0% | +83.8% | +20.4% | +9998.0% | -92.4% |
| Net income growth | +22.5% | -21.7% | +129.8% | -449.6% | +117.3% | -194.2% | - |
| Revenue CAGR (3Y) | -4.5% | +2.0% | +24.9% | +25.9% | +8.8% | -4.4% | +1.9% |
| EBITDA CAGR (3Y) | - | +1.7% | - | - | +17.5% | - | -32.7% |
| Profitability & leverage | |||||||
| Net income margin | +13.0% | +1.8% | +2.0% | +3.3% | +2.6% | +1.7% | -6.9% |
| Return on capital employed | +5.5% | +8.7% | +10.5% | -6.5% | +7.8% | -7.5% | 0.0% |
| Return on net worth | +7.5% | +8.6% | +11.3% | -37.2% | +10.5% | -66.1% | 0.0% |
| Debt / equity | 1.22 | 1.58 | 1.62 | 1.72 | 1.87 | 2.47 | 2.56 |
| Long-term debt / equity | 0.14 | 0.80 | 1.56 | 1.12 | 1.27 | 2.06 | 1.80 |
| Interest cover | 126.51 | 62.83 | 53.87 | -81.22 | 66.48 | -112.93 | 1,080.91 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.80 | 2.87 | 3.21 | 3.53 | 2.96 | 1.73 | 1.87 |
| Inventory turnover | 2.23 | 2.81 | 3.55 | 3.89 | 3.62 | 2.16 | 2.15 |
| Debtors turnover | 12.12 | 9.51 | 9.34 | 11.26 | 9.27 | 5.72 | 6.53 |
| EPS (₹) | 43.92 | 6.02 | 7.17 | 12.84 | 8.64 | 3.25 | (13.83) |
| Dividend per share (₹) | 3.00 | 2.00 | 2.00 | 2.00 | 1.50 | 1.00 | 0.00 |
| Book value per share (₹) | 117.19 | 66.42 | 65.48 | 61.00 | 70.92 | 63.45 | 60.60 |
To see the full year-wise statements and ratios of Mukand Limited, buy the company report.
Board of directors of Mukand Limited
Mukand has 6 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sankaran Radhakrishnan | Director | 20 May 2019 | 7 Years 5 Months | Current |
| Arvind Madhav Kulkarni Also directs: Mukand Sumi Metal Processing Limited | Director | 28 Jun 2022 | 4 Years 3 Months | Current |
| Niraj Ramkrishna Bajaj | Managing Director | 05 Jul 2008 | 18 Years 3 Months | Current |
| Tasneem Vikram Singh Mehta Also directs: Tma Estates LLP | Director | 10 Feb 2025 | 1 Years 8 Months | Current |
| Prem Kumar Swamidas Chandrani | Director | 10 Sep 2024 | 2 Years 1 Months | Current |
| Nirav Nayan Bajaj Also directs: Aryan Nayan Realty LLP, Mukand Sumi Special Steel Limited, Bajaj Electricals Limited and 4 more | Whole-Time Director | 16 May 2023 | 3 Years 5 Months | Current |
Peer comparison
Mukand Limited is compared with the 8 companies closest to it by revenue in the Metals and Minerals industry (Industrial Products Manufacturers, Steel), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Godawari Power and Ispat Limited | ₹5,471.71 Cr (FY 2025) | -1.0% | Raipur, Chhattisgarh, India | |||
| Shri Bajrang Power and Ispat Limited | ₹5,243.25 Cr (FY 2025) | 2.0% | Raipur, Chhattisgarh, India | |||
| Rimjhim Ispat Limited | ₹5,222.68 Cr (FY 2025) | 0.0% | Kanpur, Uttar Pradesh, India | |||
| Aia Engineering Limited | ₹5,135.16 Cr (FY 2024) | 0.0% | Ahmedabad, Gujarat, India | |||
| Tata Steel Mining Limited | ₹5,008.91 Cr (FY 2023) | 9.0% | Bhubaneswar, Odisha, India | |||
| Mukand Limitedthis company | ₹4,889.83 Cr (FY 2026) | ₹68.88 Cr | 1.4% | 0.0% | 2,341 | Mumbai, Maharashtra, India |
| Amns Khopoli Limited | ₹4,858.16 Cr (FY 2024) | 342.0% | Khalapur, Maharashtra, India | |||
| Sarda Energy & Minerals Limited | ₹4,815.25 Cr (FY 2025) | 19.0% | Nagpur, Maharashtra, India | |||
| Rashmi Metallurgical Industry Private Limited | ₹4,631.67 Cr (FY 2025) | 80.0% | Kolkata, West Bengal, India |
To see the full peer comparison of Mukand Limited, buy the company report.
Auditor
Mukand Limited is audited by DHC & Co. for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DHC & Co. | FY 2025 | 103525W |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 74.70%, foreign institutional investors hold 0.20%, domestic institutional investors hold 1.10% and retail and other public shareholders hold 24.00%.
Sep 2026
QUARTER
74.70% Promoters
1.10% DII (Domestic Institutional)
0.20% FII (Foreign Institutional)
24.00% Retail & Others
Promoter holding - history
Now 74.70% · Sep 2026High 74.70% · Dec 2025Low 74.70% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 74.70% | 74.70% | 74.70% | 74.70% |
| Public | 25.30% | 25.30% | 25.30% | 25.30% |
Charges & borrowings
Open charges
₹369.12 Cr
Satisfied charges
₹4,772.33 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 11 Mar 2013 | 10423421 | Kotak Mahindra Bank Limited | ₹1.86 Cr | Open | |
| 15 Nov 2010 | 10256240 | Srei Equipment Finance Private Limited | ₹36.02 Lakh | Open | |
| 18 Nov 2009 | 10187070 | Others | ₹47.75 Cr | Open | |
| 01 Aug 2008 | 10118820 | Srei Infrastructure Finance Limited | ₹6.89 Lakh | Open | |
| 07 Feb 2006 | 90236515 | Infrastructure Leasing & Financial Services Limited | ₹10 Cr | Open |
To see the full charge records of Mukand Limited, buy the company report.
Total charge records: 88 View all charges
Deals & funding
Mukand Limited has 17 deals on record (15 market trades, 2 secondary share transfers); the latest was in July 2022.
Total deals
17
Market trades
15
Secondary share transfers
2
Deals on record (5 of 17)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2021 | Market trade | ₹355 Cr | Buyer: Bachhraj and Company Private Limited , Bajaj Sevashram Private Limited , Bachhraj Factories Private Limited Seller: Jadavdevi Suketu Trust, 3 individuals |
| Jul 2021 | Secondary share transfer | Undisclosed | Buyer: Bachhraj and Company Private Limited , Bajaj Sevashram Private Limited , Bachhraj Factories Private Limited Seller: 4 individuals |
| Dec 2020 | Market trade | ₹28.95 Cr | Buyer: Bajaj Sevashram Private Limited Seller: Jeewan Limited |
| Sep 2017 | Market trade | ₹37.23 Cr | Buyer: Jamnalal Sons Private Limited Seller: an individual |
| Sep 2017 | Market trade | ₹17.42 Cr | Buyer: Jamnalal Sons Private Limited Seller: an individual |
To see the full deal history of Mukand Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mukand Limited has 442 court cases on record: 260 filed by Mukand, 182 filed against it. 59 cases are pending and 383 are disposed.
Total cases
442
Filed by the company
260
Filed against the company
182
Pending
59
Disposed
383
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 297 | 128 | 39 |
| District courts | 119 | 47 | 16 |
| Supreme Court | 25 | 7 | 4 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 442)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai City Civil Court, Maharashtra | Interim or miscellaneous application | Filed against the company by Mumbai International Airport Pvt. Ltd. | Pending |
| High Court, MAHARASHTRA | Court case (OLR) | Filed against the company by Official Liquidator of Devidayal Industries Ltd (in Liquidation) | Pending |
| District court, North Goa, Goa | Court case (IPC) | Filed by the company against Minrani International Private Limited and 2 others | Pending |
| Calcutta High Court | Court case (EC) | Filed by the company against Ramsarup Industries Limited | Pending |
| Madras High Court | Interim or miscellaneous application | Filed against the company by Neyveli Lignite Corporation Ltd. | Disposed |
To see the full case history of Mukand Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Mukand Limited has 3 MSME Form 1 returns on record between 2019 and 2020, listing 36 overdue payments to 35 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 35)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Technocrats | |||
| John Steeltech Private Limited | |||
| Itl Industries Limited | |||
| 4S Refractories Private Limited | |||
| Sunraj Plastics |
To see the full MSME payment records of Mukand Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Mukand has 1 subsidiary company, 1 joint venture, and 1 associated company. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
1
Subsidiary companies
1
Joint ventures
1
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Mukand Sumi Metal Processing Ltd. | U27300MH2012PLC234000 |
To see the full group structure of Mukand Limited, buy the company report.
Employees & EPFO
Mukand Limited has a workforce of 2,341 employees on its EPFO records as of Jan 22, 2026, across 1 active EPFO establishment.
Employee count
2,341
Active EPFO establishments
1
Employee growth
-0.72%
GST
Mukand has 36 GST registrations: 19 active and 17 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
36
Active
19
Cancelled / inactive
17
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACM5008R1Z5 | Maharashtra | Active | 01 Jul 2017 |
| 27AAACM5008R1DE | Maharashtra | Active | 08 Nov 2024 |
| 27AAACM5008R3Z3 | Maharashtra | Active | 27 Mar 2025 |
| 06AAACM5008R1Z9 | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Mukand Limited, buy the company report.
Recent activity
Mukand Limited has 48 board changes on record since 1976: 28 appointments and 20 cessations. The latest: Bharti Ram Gandhi ceased to be Director on 10 Feb 2025.
Charges
A charge registered on 06 Jan 2022 via Charge ID 100518784 with Others was fully satisfied on 04 Oct 2025.
AGM
Mukand Limited last Annual general meeting of members was held on 08 Aug 2025 as per latest MCA records.
Filing
Mukand Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Ceased
Bharti Ram Gandhi ceased to be Director.
Appointed
Tasneem Vikram Singh Mehta was appointed as Director.
Ceased
Amit Yadav ceased to be Director.
Appointed
Prem Kumar Swamidas Chandrani was appointed as Director.
Ceased
Prakash Vasantlal Mehta ceased to be Director.
Appointed
Nirav Nayan Bajaj was appointed as Whole-Time Director.
Appointed
Arvind Madhav Kulkarni was appointed as Director.
Ceased
Jayavanth Kallianpur Mallya ceased to be Nodal Officer.
Appointed
Dhanesh Kanaiyalal Goradia was appointed as CFO.
230 earlier events are in the company report.
News
Frequently asked questions
Mukand is an active public limited company based in Mumbai, Maharashtra, India. The company works in material handling and storage equipment, within the machinery and equipment industry. It was incorporated on 29 November 1937 (89+ years old) and is registered under CIN L99999MH1937PLC002726. Listed on BSE: 500460 and NSE: MUKANDLTD.
Mukand reported revenue of ₹4,889.83 Cr for FY 2025-26 (up 0% YoY) based on consolidated financials.
Mukand has 6 current directors:
- Niraj Ramkrishna Bajaj - Managing Director
- Nirav Nayan Bajaj - Whole-Time Director
- Sankaran Radhakrishnan - Director
- Arvind Madhav Kulkarni - Director
- Tasneem Vikram Singh Mehta - Director
- Prem Kumar Swamidas Chandrani - Director
The latest financial statements of Mukand on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 08 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Mukand is 27AAACM5008R1Z5, registered in Maharashtra. The company has 36 GST registrations in all, of which 19 are active and 17 are cancelled or inactive. Other active GSTINs include 27AAACM5008R1DE (Maharashtra), 27AAACM5008R3Z3 (Maharashtra), 06AAACM5008R1Z9 (Haryana).
The CIN (Corporate Identification Number) of Mukand is L99999MH1937PLC002726. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Mukand is listed on both BSE (code: 500460) and NSE (symbol: MUKANDLTD).
Mukand has 442 court cases on record: 260 filed by the company and 182 filed against it. 59 are pending. Most are in the high courts.
Mukand was incorporated on 29 November 1937, making it 89+ years old. It is registered with the Registrar of Companies, Mumbai.
Mukand has 17 deals on record (15 market trades, 2 secondary share transfers); the latest was in July 2022.
The peers of Mukand by revenue are Godawari Power and Ispat Limited, Shri Bajrang Power and Ispat Limited, Rimjhim Ispat Limited, Aia Engineering Limited, Tata Steel Mining Limited and 3 more, all in the Metals and Minerals industry (Industrial Products Manufacturers, Steel), with the same principal business activity (metal and metal products).
Bharti Ram Gandhi ceased to be Director on 10 Feb 2025. Tasneem Vikram Singh Mehta was appointed as Director on 10 Feb 2025. Amit Yadav ceased to be Director on 09 Nov 2024. Mukand has 48 board changes on record in total.