---
title: "Millworks Technologies Limited (544826) — Share Price, Financials & Analysis"
symbol: "544826"
company: "Millworks Technologies Limited"
canonical: "https://tapetide.com/stocks/544826"
bse_code: "544826"
sector: "Industrials"
industry: "Aerospace & Defense"
generated_at: "2026-09-13T18:48:13.475Z"
---

# Millworks Technologies Limited (544826)

Canonical page: https://tapetide.com/stocks/544826

## Company

- **BSE Code:** 544826
- **Sector:** Industrials
- **Industry:** Aerospace & Defense
- **Macro Sector:** Industrials
- **Face Value:** ₹10
- **F&O Eligible:** No

## About

Incorporated in November 2021, Millworks Technologies Limited is a precision engineering and manufacturing company specializing in the design, development, and production of high-precision components.[1]

## Latest Price

## Key Insights

### Strengths

- Company has a good return on equity (ROE) track record: 3 Years ROE 66.0%

### Weaknesses

- Company has high debtors of 340 days.
- Working capital days have increased from 76.3 days to 111 days

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 607% | 383% |
| revenue growth | 573% | 338% |

## Financial Statements

### Profit & Loss

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 0 | 2 | 9 | 22 | 149 |
| Expenses | 0 | 1 | 7 | 14 | 97 |
| Operating Profit | 0 | 0 | 3 | 8 | 52 |
| OPM % | — | 26 | 30 | 35 | 35 |
| Other Income | 0 | 0 | 0 | 0 | 5 |
| Interest | 0 | 0 | 0 | 1 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 3 |
| Profit before tax | 0 | 0 | 2 | 7 | 50 |
| Tax % | — | 18 | 18 | 26 | 26 |
| Net Profit | 0 | 0 | 2 | 5 | 37 |
| EPS in Rs | 0 | 66 | 390 | 898.97 | 29.02 |
| Dividend Payout % | — | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | — | 0.05 | 0.05 | 0.06 | 13 |
| Reserves | — | 0 | 2 | 23 | 70 |
| Borrowings | — | 2 | 5 | 10 | 17 |
| Other Liabilities | — | 1 | 4 | 7 | 99 |
| Total Liabilities | — | 4 | 11 | 40 | 198 |
| Fixed Assets | — | 0 | 2 | 13 | 25 |
| CWIP | — | 0 | 1 | 2 | 2 |
| Investments | — | 0 | 0 | 0 | 6 |
| Other Assets | — | 3 | 8 | 25 | 166 |
| Total Assets | — | 4 | 11 | 40 | 198 |

### Cash Flow

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | -2 | 1 | -3 | -11 |
| Cash from Investing Activity | — | 0 | -3 | -10 | -16 |
| Cash from Financing Activity | — | 2 | 2 | 13 | 27 |
| Net Cash Flow | — | 0 | 0 | 1 | 0 |
| Free Cash Flow | — | -2 | -2 | -12 | -19 |
| CFO/OP | — | -372 | 22 | -27 | -18 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | — | 142 | 73 | 112 | 340 |
| Inventory Days | — | 2205 | 813 | 491 | 55 |
| Days Payable | — | 1278 | 448 | 286 | 349 |
| Cash Conversion Cycle | — | 1070 | 438 | 318 | 47 |
| Working Capital Days | — | -16 | -14 | 132 | 111 |
| ROCE % | — | — | 56 | 39 | 81 |

## Shareholding Pattern

### annual

| Category | Jul 2026 |
| --- | --- |
| Promoters | 47.18% |
| FIIs | 2.55% |
| DIIs | 10.28% |
| Public | 39.98% |
| No. of Shareholders | 2687 |

### Quarterly

| Category | Jul 2026 |
| --- | --- |
| Promoters | 47.18% |
| FIIs | 2.55% |
| DIIs | 10.28% |
| Public | 39.98% |
| No. of Shareholders | 2687 |

## Technical Indicators

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

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 9 / 3

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1050.9 | Buy |
| EMA (10) | 1064.57 | Buy |
| SMA (20) | 948.34 | Buy |
| EMA (20) | 982.75 | Buy |
| SMA (50) | — | Neutral |
| EMA (50) | — | Neutral |
| SMA (100) | — | Neutral |
| EMA (100) | — | Neutral |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 77.45 | Sell |
| MACD (12,26,9) | 98.06 | Buy |
| Stochastic (14,3,3) | 80.69 | Sell |
| ADX (14) | 74.38 | Buy |
| Williams %R (14) | -16.12 | Sell |
| ATR (14) | 59.1 | High Volatility |
| ROC (12) | 29.12 | Buy |
| Stoch RSI (14) | 67.69 | Neutral |
| UO (7,14,28) | 59.02 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Management held a webinar with investors on 09 September 2026; no UPSI shared. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 9 Sep - Management held a webinar with investors on 09 September 2026; no UPSI shared.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2bbe2006-3375-445c-8a73-ea0f7554bf41.pdf) |
| 8 Sep - Newspaper Advertisement of 05th annual general meeting | [Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep - Newspaper Advertisement of 05th annual general meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9e00f05d-2295-4972-8c90-bd12c0f4ec6a.pdf) |
| 5 Sep - Board approved FY26 report, AGM on 29 Sep 2026, e-voting dates, and secretarial auditor appointment. | [Board Meeting Outcome for Outcome Of Board Meeting In Accordance With Regulation 30 Of The SEBI (LODR) Regulations, 2015. 5 Sep - Board approved FY26 report, AGM on 29 Sep 2026, e-voting dates, and secretarial auditor appointment.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=507cd1cb-bf9e-405b-9181-656e028139ed.pdf) |
| 31 Aug - Board approved ₹2.75 crore loan conversion to acquire 67% of Vidwan Aeronautics, making it a subsidiary. | [Announcement under Regulation 30 (LODR)-Acquisition 31 Aug - Board approved ₹2.75 crore loan conversion to acquire 67% of Vidwan Aeronautics, making it a subsidiary.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1a15b21c-23c3-43d8-bd5a-b0f1a63b1382.pdf) |
| 31 Aug - Board approved ₹2.75 crore loan conversion into 67% stake in Vidwan Aeronautics on 31 August 2026. | [Board Meeting Outcome for MILLWORKS TECHNOLOGIES LIMITED HAS informed REGARDING THE ACQUISITION OF VIDWAN AERONAUTICS PRIVATE LIMITED THROUGH CONVERSION OF THE OUTSTANDING LOAN INTO EQUITY SHARES. 31 Aug - Board approved ₹2.75 crore loan conversion into 67% stake in Vidwan Aeronautics on 31 August 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7de79cc2-6c8c-4de6-8fd3-a6eed2488f32.pdf) |
| 3 Sep - Management will participate in a webinar on September 9, 2026, hosted by Kirin Advisors. | [Intimation Of Participation In Webinar - Regulation 30 Of The SEBI (LODR) Regulations, 2015. 3 Sep - Management will participate in a webinar on September 9, 2026, hosted by Kirin Advisors.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6acaae7e-d0bd-4375-b547-b4e01edca4b9.pdf) |
| 21 Aug - Group investors meeting held on 21 Aug 2026 with 13 participants; management discussed business outlook and performance. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 21 Aug - Group investors meeting held on 21 Aug 2026 with 13 participants; management discussed business outlook and performance.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=973dc07d-d035-4ff7-9f22-05edb4c7174f.pdf) |
| 20 Aug - Millworks secured ₹53.74 crore orders; FY27 confirmed order book rises to ₹121.88 crore. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 20 Aug - Millworks secured ₹53.74 crore orders; FY27 confirmed order book rises to ₹121.88 crore.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=786241e4-c123-4c8a-a102-7c8c944e9c49.pdf) |
| 18 Aug - Intimation of Group Investors' Meeting on 21st August 2026 at 16:00 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Aug - Intimation of Group Investors' Meeting on 21st August 2026 at 16:00](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f052cb75-8936-4082-b001-df33da0f8d30.pdf) |
| 18 Aug - Friday, 21st August 2026 - Meeting with Specific Institutional Investors through Virtual Mode | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 18 Aug - Friday, 21st August 2026 - Meeting with Specific Institutional Investors through Virtual Mode](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cdae3d1e-368b-4a59-b280-279d34a92255.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 2026-09-13T18:48:13.475Z.