---
title: "Master Components Ltd (MASTER) — Share Price, Financials & Analysis"
symbol: "MASTER"
company: "Master Components Ltd"
canonical: "https://tapetide.com/stocks/MASTER"
isin: "INE0OJM01017"
nse_symbol: "MASTER"
sector: "Industrial Products"
industry: "Plastic Products - Industrial"
market_cap_cr: 166
generated_at: "2026-09-13T18:19:23.643Z"
---

# Master Components Ltd (MASTER)

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

## Company

- **NSE Symbol:** MASTER
- **ISIN:** INE0OJM01017
- **Sector:** Industrial Products
- **Industry:** Plastic Products - Industrial
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2023-09-29
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** master-group.in

## About

Incorporated in 1999, Master Components Ltd is in the business of manufacturing of  Plastic Engineering Components and sub assemblies[1]

## Latest Price

- **Price:** ₹415
- **Change:** 0 (0%)
- **Open:** ₹415
- **Day High:** ₹415
- **Day Low:** ₹415
- **Previous Close:** ₹415
- **Volume:** 500
- **As Of:** 2026-09-11T06:10:02+00:00

## Key Fundamentals

Observed at 2026-09-11T04:47:18.511550Z.

- **Market Cap:** ₹166 Cr
- **Classification:** SME
- **P/E (reported):** 22.3
- **Book Value:** ₹91.97
- **Price to Book:** 4.51
- **Dividend Yield:** 0.18%
- **ROE:** 20.23%
- **ROCE:** 25.96%
- **Debt to Equity:** 0.3
- **Revenue (yearly):** ₹74.7 Cr
- **Net Income:** ₹7.4 Cr
- **EBITDA:** ₹12.6 Cr
- **52-Week High:** ₹502
- **52-Week Low:** ₹282.5
- **RSI (14):** 41.1

## Tapetide Score

- **Score:** 66 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 97.4 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 72.53 | 9% |
| growth | 98.85 | 9% |
| momentum | 95.49 | 12% |
| ownership | 64.66 | 24% |
| quality | 69.03 | 22% |
| valuation | 35.05 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 57.8% CAGR over last 5 years
- Company's working capital requirements have reduced from 64.7 days to 47.5 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 33.33% | 7.69% | 180% |
| ebitda margin growth | 4.4% | -5.76% | 28.45% |
| net income growth | 13.85% | 63% | 58% |
| revenue growth | 74.53% | 53% | 41% |
| roce | -9.64% | 67.7% | 20.84% |
| roe | -8.13% | 17.96% | 114.76% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2022 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 10.04 | 11.49 | 13.8 | 17.73 | 24.67 | 36.77 | 37.61 |
| Expenses | 8.39 | 9.58 | 11.43 | 14.76 | 21.13 | 31.45 | 30.64 |
| Operating Profit | 1.65 | 1.91 | 2.37 | 2.97 | 3.54 | 5.32 | 6.97 |
| OPM % | 16.43 | 16.62 | 17.17 | 16.75 | 14.35 | 14.47 | 18.53 |
| Other Income | 0.06 | 0.02 | 0.27 | 0.36 | 3.24 | 0.14 | 0.15 |
| Interest | 0.07 | 0.05 | 0.02 | 0.04 | 0.16 | 0.27 | 0.55 |
| Depreciation | 0.41 | 0.52 | 0.43 | 1.05 | 0.18 | 0.85 | 0.94 |
| Profit before tax | 1.23 | 1.36 | 2.19 | 2.24 | 6.44 | 4.34 | 5.63 |
| Tax % | 30.08 | 27.21 | 23.29 | 25 | 25.31 | 25.35 | 25.4 |
| Net Profit | 0.85 | 1 | 1.67 | 1.67 | 4.82 | 3.24 | 4.2 |
| EPS in Rs | 28.33 | 2.5 | 4.18 | 4.18 | 12.05 | 8.1 | 10.5 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 15.02 | 13.22 | 18.22 | 20.69 | 25.24 | 42.37 | 74.27 |
| Expenses | 12.02 | 11.01 | 15.97 | 17.53 | 20.96 | 35.88 | 61.97 |
| Operating Profit | 3 | 2.21 | 2.25 | 3.16 | 4.28 | 6.49 | 12.3 |
| OPM % | 19.97 | 16.72 | 12.35 | 15.27 | 16.96 | 15.32 | 16.56 |
| Other Income | 0.29 | 0.02 | 0.09 | 0.2 | 0.29 | 3.6 | 0.28 |
| Interest | 0.43 | 0.27 | 0.18 | 0.11 | 0.07 | 0.19 | 0.82 |
| Depreciation | 0.96 | 0.92 | 0.85 | 0.83 | 0.95 | 1.22 | 1.78 |
| Profit before tax | 1.9 | 1.04 | 1.31 | 2.42 | 3.55 | 8.68 | 9.98 |
| Tax % | 30.53 | 26.92 | 27.48 | 29.34 | 24.79 | 25.23 | 25.35 |
| Net Profit | 1.32 | 0.76 | 0.94 | 1.71 | 2.68 | 6.49 | 7.44 |
| EPS in Rs | 44 | 25.33 | 31.33 | 5.18 | 6.7 | 16.22 | 18.6 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.3 | 0.3 | 0.3 | 3.3 | 4 | 4 | 4 |
| Reserves | 7.95 | 8.71 | 9.65 | 8.35 | 19 | 25.49 | 32.79 |
| Borrowings | 3.77 | 2.17 | 1.73 | 0.94 | -0.14 | 4.01 | 10.86 |
| Other Liabilities | 2.58 | 3.01 | 3.17 | 4 | 3.45 | 9.55 | 11.46 |
| Total Liabilities | 14.6 | 14.19 | 14.85 | 16.59 | 26.31 | 43.05 | 59.11 |
| Fixed Assets | 7.98 | 7.78 | 7.18 | 7.13 | 10.16 | 24.19 | 27.73 |
| CWIP | 0 | 0 | 0 | 0.86 | 0.61 | 0 | 0.23 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 6.62 | 6.41 | 7.67 | 8.6 | 15.54 | 18.86 | 31.15 |
| Total Assets | 14.6 | 14.19 | 14.85 | 16.59 | 26.31 | 43.05 | 59.11 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | 2.03 | 0.8 | 2.6 | 2.08 | 1.68 | 2.24 |
| Cash from Investing Activity | — | -0.71 | -0.22 | -1.64 | -3.73 | -11.45 | -5.55 |
| Cash from Financing Activity | — | -1.86 | -0.59 | -0.85 | 7.58 | 3.94 | 6.09 |
| Net Cash Flow | — | -0.54 | -0.01 | 0.11 | 5.94 | -5.83 | 2.78 |
| Free Cash Flow | — | 1.31 | 0.58 | 0.95 | -1.65 | -9.77 | -3.31 |
| CFO/OP | — | 104 | 52 | 82 | 49 | 26 | 18 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 84.08 | 111.54 | 82.14 | 80.44 | 79.68 | 79.34 | 73.13 |
| Inventory Days | 60.95 | 75.7 | 82.57 | 75.67 | 52.35 | 91.5 | 80.72 |
| Days Payable | 42.06 | 78.02 | 51.54 | 72.33 | 42.12 | 75.92 | 51.91 |
| Cash Conversion Cycle | 102.97 | 109.23 | 113.17 | 83.78 | 89.91 | 94.92 | 101.94 |
| Working Capital Days | 56.14 | 73.99 | 69.31 | 73.92 | 93.56 | 52.89 | 47.52 |
| ROCE % | — | 11.29 | 13.65 | 20.85 | 20.42 | 20.16 | 26.62 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.45% | 72.45% | 72.45% | 72.68% | 67.1% | 67.1% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 2.85% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 21.73% | 13.45% | 17.15% | 18.15% | 22.4% | 22.27% |
| Others | 5.83% | 14.1% | 10.4% | 9.17% | 10.5% | 7.78% |
| No. of Shareholders | 861 | 213 | 247 | 238 | 339 | 350 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 7 / 4 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 426.26 | Sell |
| EMA (10) | 426.41 | Sell |
| SMA (20) | 446.48 | Sell |
| EMA (20) | 434.27 | Sell |
| SMA (50) | 420.48 | Sell |
| EMA (50) | 419.73 | Sell |
| SMA (100) | 372.69 | Buy |
| EMA (100) | 393.07 | Buy |
| SMA (200) | 358.94 | Buy |
| EMA (200) | 368.27 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.1 | Neutral |
| MACD (12,26,9) | -4.88 | Sell |
| Stochastic (14,3,3) | 0 | Buy |
| ADX (14) | 20.49 | Neutral |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 11.25 | Neutral |
| ROC (12) | -6.32 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 34.29 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 June 2026 - Trading window closes June 24-29, 2026 ahead of 27th AGM; annual report available on website. | [Trading Window 9 June 2026 - Trading window closes June 24-29, 2026 ahead of 27th AGM; annual report available on website.](https://nsearchives.nseindia.com/corporate/MCL2023_09062026114440_Trading_WIndow_Closure.pdf) |
| 9 Aug - Received domestic purchase order for electrical components worth INR 45.51 lakh, executable by 3 November 2026. | [Bagging/Receiving of orders/contracts 9 Aug - Received domestic purchase order for electrical components worth INR 45.51 lakh, executable by 3 November 2026.](https://nsearchives.nseindia.com/corporate/MCL2023_09082026142212_MCL_Reporting_of_order_09082026_Sd.pdf) |
| 8 Sep - Master Components received ISO 14001:2015 and ISO 45001:2018 certificates on 8 Sep 2026. | [General Updates 8 Sep - Master Components received ISO 14001:2015 and ISO 45001:2018 certificates on 8 Sep 2026.](https://nsearchives.nseindia.com/corporate/MCL2023_08092026194128_MCL_Reporting_of_award_08092026_Sd.pdf) |
| 8 April 2026 - SDD compliance certificate for quarter ended March 31, 2026; no noncompliance observed. | [Structural Digital Database 8 April 2026 - SDD compliance certificate for quarter ended March 31, 2026; no noncompliance observed.](https://nsearchives.nseindia.com/corporate/MCL2023_08042026154622_SDD_Compliance_31032026.pdf) |
| 8 April 2026 - Regulation 74(5) certificate filed for quarter ended March 31, 2026; no dematerialization or rematerialization activity. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 April 2026 - Regulation 74(5) certificate filed for quarter ended March 31, 2026; no dematerialization or rematerialization activity.](https://nsearchives.nseindia.com/corporate/MCL2023_08042026153958_Reg_74_5__31032026_Sd.pdf) |
| 8 April 2026 - Received domestic purchase order worth about INR 3.36 crore, excluding tax, to be executed by 29 April 2026. | [Bagging/Receiving of orders/contracts 8 April 2026 - Received domestic purchase order worth about INR 3.36 crore, excluding tax, to be executed by 29 April 2026.](https://nsearchives.nseindia.com/corporate/MCL2023_08042026070036_MCL_Reporting_of_order_07042026_Sd.pdf) |
| 8 April 2026 - Master Components says Secretarial Compliance Report not applicable for year ended March 31, 2026. | [Updates 8 April 2026 - Master Components says Secretarial Compliance Report not applicable for year ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/MCL2023_08042026161653_NA_of_ASCR_31032026_Sd.pdf) |
| 7 June 2026 - 27th AGM on 29 June 2026; book closure 24-29 June; record date 23 June for dividend and voting. | [Record Date 7 June 2026 - 27th AGM on 29 June 2026; book closure 24-29 June; record date 23 June for dividend and voting.](https://nsearchives.nseindia.com/corporate/MCL2023_07062026152232_INitmation_of_cut_off_date_and_book_closure_Sd.pdf) |
| 7 June 2026 - 27th AGM on 29 June 2026; book closure 24-29 June, record date 23 June for dividend and voting. | [Record Date 7 June 2026 - 27th AGM on 29 June 2026; book closure 24-29 June, record date 23 June for dividend and voting.](https://nsearchives.nseindia.com/corporate/MCL2023_07062026152351_INitmation_of_cut_off_date_and_book_closure_Sd.pdf) |
| 7 July 2026 - Received domestic purchase order worth ₹4.35 crore for plate plus frame supply; execution by 28 July 2026. | [Bagging/Receiving of orders/contracts 7 July 2026 - Received domestic purchase order worth ₹4.35 crore for plate plus frame supply; execution by 28 July 2026.](https://nsearchives.nseindia.com/corporate/MCL2023_07072026210117_MCL_Reporting_of_order_07072026_Sd.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29363_MASTER_2025_2026_A_10340372_07062026151134.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26873_MASTER_2024_2025_A_12072025130517.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_24720_MASTER_2023_2024_3007202415228.pdf) |

---

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 2026-09-13T18:19:23.643Z.