---
title: "Milk Specialities Ltd (519403) — Share Price, Financials & Analysis"
symbol: "519403"
company: "Milk Specialities Ltd"
canonical: "https://tapetide.com/stocks/519403"
bse_code: "519403"
sector: "Fast Moving Consumer Goods"
industry: "Food Products"
generated_at: "2026-09-13T18:51:35.355Z"
---

# Milk Specialities Ltd (519403)

Canonical page: https://tapetide.com/stocks/519403

## Company

- **BSE Code:** 519403
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Food Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** milktimeindia.com

## About

Milk Specialities Ltd.is a manufacturer of varieties of Dairy Products such as Pure Ghee, Milk Powder, Pasteurized Milk etc. and is marketing its products under the brand name 'MILKTIME'.

## Latest Price

## Key Insights

### Strengths

- Debtor days have improved from 35.5 to 16.4 days.
- Company's working capital requirements have reduced from 177 days to 102 days

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -7.91% over past five years.
- Company has a low return on equity of 2.08% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -131% | — | — |
| revenue growth | -18% | -10% | -8% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- |
| Sales | 473 | 485 | 485 | 502 | 563 |
| Expenses | 453 | 465 | 465 | 482 | 541 |
| Operating Profit | 20 | 20 | 19 | 20 | 22 |
| OPM % | 4 | 4 | 4 | 4 | 4 |
| Other Income | 1 | 1 | 1 | 1 | 2 |
| Interest | 10 | 9 | 8 | 10 | 6 |
| Depreciation | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 10 | 11 | 11 | 10 | 15 |
| Tax % | 35 | 27 | 24 | 29 | 25 |
| Net Profit | 6 | 8 | 8 | 7 | 12 |
| EPS in Rs | 1 | 1.25 | 1.27 | 0.82 | 1.33 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 63.92 | 72.05 | 80.37 | 64.78 | 58.14 | 58.03 | 47.73 |
| Expenses | 60.24 | 68.29 | 76.01 | 60.28 | 53.38 | 51.14 | 41.33 |
| Operating Profit | 3.68 | 3.76 | 4.36 | 4.5 | 4.76 | 6.89 | 6.4 |
| OPM % | 5.76 | 5.22 | 5.42 | 6.95 | 8.19 | 11.87 | 13.41 |
| Other Income | 0.04 | 0.17 | 0.09 | 0.17 | 0.46 | 0.01 | 0.01 |
| Interest | 1.67 | 1.9 | 2.38 | 2.82 | 3.56 | 5.07 | 5.34 |
| Depreciation | 0.99 | 1.06 | 1.14 | 1.16 | 1.15 | 1.13 | 1.13 |
| Profit before tax | 1.06 | 0.97 | 0.93 | 0.69 | 0.51 | 0.7 | -0.06 |
| Tax % | 43.4 | 36.08 | 44.09 | 26.09 | -17.65 | 2.86 | 250 |
| Net Profit | 0.6 | 0.62 | 0.52 | 0.51 | 0.6 | 0.68 | -0.21 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 8.95 | 8.95 | 8.95 | 8.95 | 8.95 | 8.95 | 8.95 |
| Reserves | 5.71 | 6.33 | 6.85 | 7.36 | 7.96 | 8.64 | 8.43 |
| Borrowings | 21.74 | 21.59 | 25.43 | 31.13 | 48.02 | 39.28 | 34.27 |
| Other Liabilities | 3.61 | 4.52 | 4.28 | 3.98 | 4.07 | 7.55 | 6.38 |
| Total Liabilities | 40.01 | 41.39 | 45.51 | 51.42 | 69 | 64.42 | 58.03 |
| Fixed Assets | 9.68 | 11.01 | 10.65 | 11 | 10 | 8.98 | 7.85 |
| CWIP | 0 | 0 | 0.23 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 30.33 | 30.38 | 34.63 | 40.42 | 59 | 55.44 | 50.18 |
| Total Assets | 40.01 | 41.39 | 45.51 | 51.42 | 69 | 64.42 | 58.03 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -6.47 | 2.69 | -2.68 | -4.95 | -16.12 | 9.29 | 10.84 |
| Cash from Investing Activity | -0.03 | -2.36 | -1.01 | -1.29 | -0.16 | -0.1 | 0.01 |
| Cash from Financing Activity | 5.65 | -0.15 | 3.84 | 5.71 | 16.89 | -10.36 | -0.33 |
| Net Cash Flow | -0.85 | 0.18 | 0.15 | -0.53 | 0.61 | -1.17 | 10.52 |
| Free Cash Flow | -6.5 | 0.33 | -3.69 | -6.24 | -16.28 | 9.18 | 10.84 |
| CFO/OP | -171 | 75 | -57 | -109 | -338 | 138 | 172 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 51.11 | 44.33 | 31.29 | 38.71 | 44.39 | 45.79 | 16.44 |
| Inventory Days | 145.5 | 126.18 | 145.57 | 251.52 | 456.65 | 447.55 | 543.41 |
| Days Payable | 5.29 | 7.92 | 5.68 | 7.81 | 12.11 | 15.17 | 12.81 |
| Cash Conversion Cycle | 191.32 | 162.59 | 171.18 | 282.42 | 488.92 | 478.17 | 547.04 |
| Working Capital Days | 153.26 | 131.87 | 138.92 | 210.45 | 345.92 | 82.02 | 101.63 |
| ROCE % | — | 7.75 | 8.48 | 7.92 | 7.24 | 9.47 | 9.73 |

## Shareholding Pattern

### annual

| Category | Dec 2025 |
| --- | --- |
| Promoters | 73.01% |
| DIIs | 1.27% |
| Public | 25.72% |
| No. of Shareholders | 74973 |

### Quarterly

| Category | Sep 2025 | Dec 2025 |
| --- | --- | --- |
| Promoters | 73.01% | 73.01% |
| FIIs | 0.51% | 0% |
| DIIs | 0% | 1.27% |
| Public | 26.48% | 25.72% |
| No. of Shareholders | 99011 | 74973 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 6 / 4

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 112.11 | Sell |
| EMA (10) | 111.14 | Buy |
| SMA (20) | 112.61 | Sell |
| EMA (20) | 109.68 | Buy |
| SMA (50) | 98.32 | Buy |
| EMA (50) | 103.27 | Buy |
| SMA (100) | 96.83 | Buy |
| EMA (100) | 100.79 | Buy |
| SMA (200) | 104.54 | Buy |
| EMA (200) | 102.15 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 55.7 | Neutral |
| MACD (12,26,9) | 3.05 | Sell |
| Stochastic (14,3,3) | 28.14 | Neutral |
| ADX (14) | 34.35 | Buy |
| Williams %R (14) | -57.49 | Neutral |
| ATR (14) | 5.19 | High Volatility |
| ROC (12) | -6.68 | Sell |
| Stoch RSI (14) | 26.9 | Neutral |
| UO (7,14,28) | 49.24 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Revised press release correcting Q3 FY25 EBITDA from ₹221.56 Cr to ₹220.11 Cr; no other changes. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised) 9 Feb - Revised press release correcting Q3 FY25 EBITDA from ₹221.56 Cr to ₹220.11 Cr; no other changes.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d390f3a9-2615-4444-aa7d-fc2858a2b49d.pdf) |
| 6 Feb - Q3 FY26 revenue ₹563.17 Cr, PAT ₹11.49 Cr; interim dividend ₹1.50/share; FY26 profit guidance raised to 30-35%. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 6 Feb - Q3 FY26 revenue ₹563.17 Cr, PAT ₹11.49 Cr; interim dividend ₹1.50/share; FY26 profit guidance raised to 30-35%.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/57f483bd-937d-4403-8c73-efc58bf92aab.pdf) |
| 5 Feb - Company has published the advertisement of the Unaudited Financial results for the quarter and nine months ended December 31, 2025 approved by the Board at … | [Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Feb - Company has published the advertisement of the Unaudited Financial results for the quarter and nine months ended December 31, 2025 approved by the Board at …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c6f8d894-832c-4064-9b59-bf55beb7e3ca.pdf) |
| 26 Feb - Secured INR 36 Crore structural steel supply order for BHEL; delivery within 10 months; advance received. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 26 Feb - Secured INR 36 Crore structural steel supply order for BHEL; delivery within 10 months; advance received.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/072cc797-7d07-4bca-9dd5-4c86c3af677d.pdf) |
| 26 Feb - BMW Ventures won Rs.336 crore BHEL fabricated steel order; Rs.3,141 crore opportunity; order book up 49% (26 Feb 2026). | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 26 Feb - BMW Ventures won Rs.336 crore BHEL fabricated steel order; Rs.3,141 crore opportunity; order book up 49% (26 Feb 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/250a5541-c43f-4ac0-886a-5cd518e48d56.pdf) |
| 13h - Secured INR 15.91 crore domestic order for supply, fabrication, delivery and erection; delivery within nine months; payment 50/40/10. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 13h - Secured INR 15.91 crore domestic order for supply, fabrication, delivery and erection; delivery within nine months; payment 50/40/10.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/793e03d1-eecb-44d7-84f3-a926fed8d994.pdf) |
| 13 Feb - Crisil MA report: IPO gross Rs23,166 lakh; net Rs20,666.70 lakh; Rs21,999.30 lakh utilized; Rs1,166.70 lakh unutilized as of Dec31,2025. | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report 13 Feb - Crisil MA report: IPO gross Rs23,166 lakh; net Rs20,666.70 lakh; Rs21,999.30 lakh utilized; Rs1,166.70 lakh unutilized as of Dec31,2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ee6199aa-3402-4893-bfd8-a2ac732fc0ec.pdf) |
| — | [Dividend Of Record Date 4 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9538c6fc-34b4-4960-bc00-bbff1093fd74.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:51:35.355Z.