Minal Industries
Commercial Services
MINALIND NSE
₹3.23 +0.15 (+4.87%)
- P/E
- 161.50
Close 4 Nov 2026 ₹3.23 −0.42 −11.5% 1Y
Start ₹3.65
Key Fundamentals
MicrocapCommercial ServicesServicesPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 1.42%
- Debt to Equity
- 0.12
- EPS (TTM)
- ₹0.02
- Book Value
- ₹2.77
- Market Cap
- —
- P/E (TTM)
- 161.50
- P/B
- 1.17
- ROE
- 1.13%
- Dividend Yield
- 0.00%
- EBITDA
- ₹1.60 Cr
- 52W High
- ₹5.89
- 52W Low
- ₹1.71
- Day Range
- ₹3.22 – ₹3.23
- Volume
- 8,605
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
46 Average
Data confidence 98/100
surveillance:ESM1
Category scores
- Quality
- 55
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 36
- Poor
- Cheap vs sector & own history 24% weight
- Growth
- 39
- Weak
- Sales & profit trajectory 9% weight
- Financial Health
- 51
- Average
- Solvency, leverage, coverage 9% weight
- Momentum
- 89
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 2.34% over last 3 years.
- Contingent liabilities of Rs.143 Cr.
- Earnings include an other income of Rs.2.50 Cr.
- Promoter holding has decreased over last 3 years: -19.0%
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 10 | 5 | 4 |
| Oscillators | Bearish | 3 | 5 | 1 |
| Moving Averages | Strong Bearish | 7 | 0 | 3 |
Oscillators
Bearish
Bearish
3
Neutral
5
Bullish
1
Overall
Strong Bearish
Bearish
10
Neutral
5
Bullish
4
Moving Averages
Strong Bearish
Bearish
7
Neutral
0
Bullish
3
Key readings
- RSI (14)
- 39.96
- Neutral
- MACD (12,26,9)
- −0.34
- Bearish
- SMA (50)
- 4.24
- Bearish
- SMA (200)
- 2.88
- Bullish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +130.77% |
|---|---|
| 5Y | +25.06% |
| 3Y | +16.92% |
| 1Y | −16.22% |
| TTM | −6.02% |
Net profit
| 10Y | Turned to profit |
|---|---|
| 5Y | Turned to profit |
| 3Y | Turned to profit |
| 1Y | −85.75% |
| TTM | −49.11% |
Operating cash flow
| 10Y | Zero base |
|---|---|
| 5Y | +8.65% |
| 3Y | Turned positive |
| 1Y | +84.12% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | Tiny sales |
|---|---|
| 5Y | +36.96 pp |
| 3Y | −0.75 pp |
| 1Y | −9.23 pp |
| TTM | −6.81 pp |
Revenue by year
| Mar 2015 | ₹4.04 Cr |
|---|---|
| Mar 2016 | ₹0.01 Cr |
| Mar 2019 | ₹40.25 Cr |
| Mar 2020 | ₹36.15 Cr |
| Mar 2021 | ₹14.00 Cr |
| Mar 2022 | ₹28.24 Cr |
| Mar 2023 | ₹26.80 Cr |
| Mar 2024 | ₹37.85 Cr |
| Mar 2025 | ₹51.12 Cr |
| Mar 2026 | ₹42.83 Cr |
Net profit by year
| Mar 2015 | −₹3.09 Cr |
|---|---|
| Mar 2016 | −₹9.11 Cr |
| Mar 2019 | ₹0.33 Cr |
| Mar 2020 | −₹7.41 Cr |
| Mar 2021 | −₹4.78 Cr |
| Mar 2022 | ₹0.67 Cr |
| Mar 2023 | −₹0.31 Cr |
| Mar 2024 | −₹2.08 Cr |
| Mar 2025 | ₹4.21 Cr |
| Mar 2026 | ₹0.60 Cr |
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5.79 | 4.74 | 14.81 | 12.51 | 12.31 | 10.77 | 8.87 | 19.16 | 10.04 | 8.9 | 8.71 | 15.18 | 13.11 |
| Expenses | 8.47 | 8.78 | 7.72 | 12.07 | 11.63 | 10.57 | 9.82 | 15.22 | 9.3 | 10.08 | 9.89 | 14.29 | 11.07 |
| Operating Profit | −2.68 | −4.04 | 7.09 | 0.44 | 0.68 | 0.2 | −0.95 | 3.94 | 0.74 | −1.18 | −1.18 | 0.89 | 2.04 |
| OPM % | −46.29% | −85.23% | 47.87% | 3.52% | 5.52% | 1.86% | −10.71% | 20.56% | 7.37% | −13.26% | −13.55% | 5.86% | 15.56% |
| Other Income | 1.45 | 0.21 | −1.31 | −2.12 | 0.15 | 0.23 | 0.87 | −0.22 | 0.18 | 0.58 | 0.34 | 1.19 | 0.39 |
| Interest | 0.26 | 0.23 | −0.32 | 0.03 | 0.03 | 0.03 | 0.04 | 0.07 | 0.02 | −0.01 | 0.02 | 0.01 | 0.02 |
| Depreciation | 0.07 | 0.11 | 0.22 | 0.12 | 0.13 | 0.14 | 0.14 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 |
| PBT | −1.56 | −4.17 | 5.88 | −1.83 | 0.67 | 0.26 | −0.26 | 3.52 | 0.76 | −0.73 | −1 | 1.93 | 2.27 |
| Tax % | 0.64% | 3.36% | −1.19% | 16.94% | 41.79% | −11.54% | −96.15% | −0.57% | 10.53% | −2.74% | 0% | 15.54% | −4.41% |
| Net Profit | −1.58 | −4.31 | 5.95 | −2.13 | 0.4 | 0.29 | −0.01 | 3.54 | 0.68 | −0.71 | −1 | 1.63 | 2.37 |
| EPS (₹) | −0.04 | −0.11 | 0.15 | −0.15 | 0.02 | −0.01 | 0.03 | 0.05 | 0.03 | −0.02 | −0.03 | 0.02 | 0.05 |
Profit & Loss
₹ Cr| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16.32 | 0.08 | 4.04 | 0.01 | 40.25 | 36.15 | 14 | 28.24 | 26.8 | 37.85 | 51.12 | 42.83 | 45.9 |
| Expenses | 15.97 | 0.63 | 7.04 | 16.51 | 41.37 | 45.61 | 19.41 | 28.4 | 27.05 | 37.05 | 47.26 | 43.55 | 45.33 |
| Operating Profit | 0.35 | −0.55 | −3 | −16.5 | −1.12 | −9.46 | −5.41 | −0.16 | −0.25 | 0.8 | 3.86 | −0.72 | 0.57 |
| OPM % | 2.14% | −687.5% | −74.26% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | −2.78% | −26.17% | −38.64% | −0.57% | −0.93% | 2.11% | 7.55% | −1.68% | 1.24% |
| Other Income | −0.26 | 0.23 | 0.01 | 7.51 | 1.43 | 3.25 | 1.28 | 2.3 | 2.34 | −1.76 | 1.04 | 2.29 | 2.5 |
| Interest | 0.01 | 0.01 | 0.02 | 0.01 | 0.51 | 0.46 | 0.27 | 0.41 | 1.7 | 0.2 | 0.17 | 0.05 | 0.04 |
| Depreciation | 0.07 | 0.05 | 0.15 | 0.07 | −0.86 | 0.78 | 0.75 | 0.73 | 0.68 | 0.53 | 0.55 | 0.56 | 0.56 |
| PBT | 0.01 | −0.38 | −3.16 | −9.07 | 0.66 | −7.45 | −5.15 | 1 | −0.29 | −1.69 | 4.18 | 0.96 | 2.47 |
| Tax % | 500% | 2.63% | −1.9% | 0.44% | 50% | −0.54% | −7.18% | 33% | 6.9% | 23.08% | −0.72% | 38.54% | — |
| Net Profit | −0.04 | −0.39 | −3.09 | −9.11 | 0.33 | −7.41 | −4.78 | 0.67 | −0.31 | −2.08 | 4.21 | 0.6 | 2.29 |
| EPS (₹) | 0 | −0.02 | −0.16 | −0.47 | 0 | −0.27 | −0.11 | 0.02 | 0.02 | −0.15 | 0.08 | 0.03 | 0.02 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 | 38.38 |
| Reserves | 61.42 | 63.93 | 62 | 54.78 | 21.71 | 16.84 | 14.68 | 15.27 | 16.39 | 15.05 | 14.86 | 14.82 |
| Borrowings | 0.41 | 0.4 | 0.35 | 0.35 | 20.76 | 19.01 | 18.97 | 9.12 | 11.82 | 13.24 | 8.24 | 6.32 |
| Other Liabilities | 466 | 510 | 531 | 8.77 | 22.83 | 14.76 | 11.3 | 9.92 | 17.65 | 24.48 | 23.68 | 28.21 |
| Total Liabilities | 566 | 612 | 631 | 102 | 104 | 88.99 | 83.33 | 72.69 | 84.24 | 91.15 | 85.16 | 87.73 |
| Fixed Assets | 1.37 | 1.32 | 1.22 | 1.15 | 4.47 | 5.75 | 5.02 | 4.48 | 4.19 | 3.86 | 3.77 | 3.62 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 25.71 | 20.68 | 20.59 | 12.16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 539 | 590 | 610 | 88.97 | 99.21 | 83.24 | 78.31 | 68.21 | 80.05 | 87.29 | 81.39 | 84.11 |
| Total Assets | 566 | 612 | 631 | 102 | 104 | 88.99 | 83.33 | 72.69 | 84.24 | 91.15 | 85.16 | 87.73 |
Cash Flow
₹ Cr| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | −1.85 | −8.14 | 0 | 0 | 1.98 | −3.3 | 4.9 | −17.47 | −2.45 | −1.05 | 4.03 | 7.42 |
| Investing | −0.25 | 5.04 | 0 | 0 | −0.26 | 0.35 | −3.82 | 27.99 | 1.3 | 0.71 | 0.11 | −1.49 |
| Financing | 2.06 | 2.89 | 0 | 0 | 0.54 | −2.13 | −0.11 | −11.31 | 1 | 0.15 | −3.58 | −1.97 |
| Net Cash Flow | −0.04 | −0.21 | 0 | 0 | 2.25 | −5.08 | 0.97 | −0.79 | −0.14 | −0.19 | 0.56 | 3.96 |
| Free Cash Flow | −1.85 | −8.14 | 0 | 0 | 1.98 | −1.51 | 4.88 | −17.33 | −2.83 | −1.24 | 3.57 | 7.01 |
| CFO/OP | −517 | 1,480 | 0 | 0 | −183 | 35 | −95 | 11,125 | 968 | −85 | 101 | −1,026 |
Ratios
| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 230 | 138 | 157 | 158 | 126 | 140 | 172 | 143 |
| Inventory Days | 559 | 2,04,400 | 1,628 | 714 | 845 | 713 | 2,303 | 1,117 | 1,529 | 1,057 | 573 | 784 |
| Days Payable | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 416 | 116 | 15.8 | 86.67 | 31.59 | 202 | 249 | 119 | 220 |
| Cash Conversion Cycle | 51.24 | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 959 | 835 | 2,373 | 1,244 | 1,453 | 949 | 625 | 706 |
| Working Capital Days | 1,610 | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 7,065 | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 563 | 592 | 1,225 | 689 | 737 | 628 | 459 | 492 |
| ROCE % | 0.29% | −0.36% | −3.09% | −9.33% | — | −10.17% | −5.99% | 1.89% | 1.97% | 3.53% | 5.97% | 1.42% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Minal Industries insights
59 extracted metrics across FY09–FY27.
Documents
- 29 May 2026
- Intimation 31 Oct 2026
- General announcements 5 Oct 2026
- General announcements 29 Sep 2026
- General announcements 29 Sep 2026
Frequently Asked Questions about Minal Industries
What does Minal Industries Ltd do?
Incorporated in 1988, Minal Industries Ltd is a Diamantaire and Jewellery and Engineering company.
Where is Minal Industries Ltd (MINALIND) listed?
Minal Industries Ltd trades as MINALIND on the NSE and under code 522235 on the BSE.
Which sector does Minal Industries Ltd belong to?
Minal Industries Ltd is classified under the Commercial Services sector, in the Trading & Distributors industry.
What is the PE ratio of Minal Industries Ltd?
Minal Industries Ltd trades at a PE ratio of 161.50 as of 4 Nov 2026, on earnings per share of ₹0.02, against a book value of ₹2.77 per share.
What is the 52-week high and low of Minal Industries Ltd?
Over the last 52 weeks Minal Industries Ltd has traded between ₹1.71 and ₹5.89 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Minal Industries Ltd?
Minal Industries Ltd reported a return on equity of 1.13%. Its debt-to-equity ratio is 0.12.
Company Information
Incorporated in 1988, Minal Industries Ltd is a Diamantaire and Jewellery and Engineering company.
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