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MMTC

MMTC NSE
₹53.50 +1.29 (+2.47%)
P/E
17.95
View as Markdown
MCP
Close 4 Nov 2026 ₹53.50 −12.58 −19.0% 1Y
Start ₹66.08

Key Fundamentals

MicrocapCommercial ServicesServices

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
8.67%
Debt to Equity
0.00
EPS (TTM)
₹2.98
Book Value
₹14.14
Market Cap
—
P/E (TTM)
17.95
P/B
3.78
ROE
−14.30%
Dividend Yield
0.00%
EBITDA
−₹4.50 Cr
52W High
₹78.35
52W Low
₹49.41
Day Range
₹51.58 – ₹53.65
Volume
11,16,252

Peer Comparison

Services › Commercial Services › Trading & Distributors

MMTC peer comparison
Redington
₹366.7516.85₹26,244 Cr2.821.79%16.90%18.40%₹1,28,133 Cr₹1,504 Cr
MMTC (this company)
₹53.5017.95₹7,929 Cr3.780.00%−14.30%8.67%₹3 Cr₹447 Cr
MSTC
₹583.9017.54₹4,034 Cr4.552.78%26.60%30.30%₹386 Cr₹234 Cr
Creative Newtech
₹1,386.6028.27₹1,806 Cr5.190.04%18.80%18.80%₹2,787 Cr₹74 Cr
Pervasive Commodities
₹12.62—₹1,031 Cr12.620.00%22.10%22.10%₹40 Cr₹0 Cr
RRP Defense
₹584.75—₹802 Cr59.310.00%−13.70%−11.10%₹12 Cr−₹2 Cr
Median 6 companies₹475.3317.74₹2,920 Cr4.870.02%17.85%18.60%₹213 Cr₹154 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

42 Weak

Data confidence 98/100

Category scores

Quality
33
Poor
Returns, margins, earnings quality 22% weight
Valuation
36
Poor
Cheap vs sector & own history 24% weight
Growth
22
Poor
Sales & profit trajectory 9% weight
Financial Health
90
Strong
Solvency, leverage, coverage 9% weight
Momentum
28
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
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 is almost debt free.

Weaknesses

6
  • Stock is trading at 3.98 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of -85.2% over past five years.
  • Company has a low return on equity of -0.40% over last 3 years.
  • Earnings include an other income of Rs.904 Cr.
  • Company has high debtors of 4,120 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1054
OscillatorsNeutral252
Moving AveragesStrong Bearish802

Key readings

RSI (14)
45.78
Neutral
MACD (12,26,9)
−1.73
Bullish
SMA (50)
57.93
Bearish
SMA (200)
62.30
Bearish

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

Revenue growth by window
10Y−58.31%
5Y−85.39%
3Y−91.72%
1Y+100.00%
TTM0.00%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3Y−37.19%
1Y+344.83%
TTM+356.12%

Operating cash flow

Operating cash flow growth by window
10YOutflow widened by ₹551 Cr
5YTurned negative
3YTurned negative
1YOutflow widened by ₹238 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10YTiny sales
5YTiny sales
3YTiny sales
1YTiny sales
TTMTiny sales

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹11,825 Cr
Mar 2018₹16,450 Cr
Mar 2019₹29,439 Cr
Mar 2020₹26,304 Cr
Mar 2021₹30,000 Cr
Mar 2022₹11,795 Cr
Mar 2023₹3,527 Cr
Mar 2024₹3.00 Cr
Mar 2025₹1.00 Cr
Mar 2026₹2.00 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹30.00 Cr
Mar 2018₹38.00 Cr
Mar 2019₹109 Cr
Mar 2020−₹292 Cr
Mar 2021−₹789 Cr
Mar 2022−₹258 Cr
Mar 2023₹1,562 Cr
Mar 2024₹192 Cr
Mar 2025₹87.00 Cr
Mar 2026₹387 Cr

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

MMTC Ltd is a government-owned trading company with a market cap of Rs.9,090 Cr trading at a PE of 23.3x and PB of 4.25x. The company is virtually debt-free but has seen a severe sales decline of -86% over five years, with earnings heavily supported by other income of Rs.828 Cr and exceptionally high debtors of 6,223 days.

Bull Case 6
  • Company is almost debt-free, significantly reducing financial risk and interest burden
  • TTM sales growth of 21% suggests a potential recovery in trading volumes after years of decline
  • Company has actively reduced debt over recent periods, improving balance sheet health
  • Compounded profit growth of 10% over the last 10 years shows long-term ability to generate earnings
  • Being a government enterprise (PSU) provides implicit sovereign backing and access to large government trading contracts
  • TTM profit growth of 3% shows the company remains profitable despite revenue headwinds
Bear Case 8
  • Compounded sales growth of -86% over 5 years reflects a severe and sustained erosion of core business volumes
  • Debtors at 6,223 days indicates extreme difficulty in collecting receivables, raising serious cash flow and asset quality concerns
  • Other income of Rs.828 Cr forms a disproportionately large share of earnings, meaning core operating profitability is questionable
  • Return on equity of just 5% in the last year and 7% over 3 years is well below cost of equity for most investors
  • Stock trades at 4.25x book value which is expensive given the low ROE of 6.85% over 3 years
  • Zero dividend yield despite repeated profitability means shareholders receive no direct cash returns
  • 10-year compounded sales decline of -60% suggests structural shrinkage in the company's trading relevance
  • Stock has delivered negative 1-year return of -7%, underperforming broader market indices

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

134d ago

TL;DR: MMTC delivered a healthy Rs. 463.30 crore standalone net profit for FY26, but a qualified audit opinion tied to Rs. 82.82 crore in Anglo Coal provisions reduces adjusted profit significantly to Rs. 129.25 crore. Leadership continuity is secured with the CMD extension. The key risk is the unresolved Anglo Coal liability and its potential to erode future earnings if provisioning requirements grow.

Headwinds 1
  • Audit qualification on Anglo Coal Jun 16

    Qualified audit opinion for FY26 due to Rs. 82.82 crore provision shortfall in the Anglo Coal case. Adjusted net profit falls to Rs. 129.25 crore standalone after accounting for the shortfall.

Positives 2
  • Strong FY26 standalone net profit Jun 02

    MMTC reported audited standalone net profit of Rs. 463.30 crore for FY26, indicating solid operating performance before audit adjustments.

  • CMD tenure extended one year May 29

    Shri Nitin Kumar Yadav's term as CMD extended from April 27, 2026 to April 26, 2027, providing leadership continuity.

Neutral 2
  • Independent director term expires Jun 08

    Non-Executive Independent Director Smt. S Meenakshi's term ended on June 8, 2026, disclosed under SEBI LODR Regulation 30.

  • Board meeting rescheduled to May 29 May 25

    Board meeting moved to May 29, 2026 to consider FY26 audited results. Trading window closed until 48 hours post-results.

Quarterly Results

₹ Cr
MMTC quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
214
−210
1
1
1
2
0
0
1
1
0
1
1
Expenses
277
−180
37
33
51
32
31
27
24
23
23
114
21
Operating Profit
−63
−30
−36
−33
−51
−30
−31
−27
−23
−22
−23
−113
−20
OPM %
−29%
—
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.
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.
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.
Other Income
83
86
95
103
95
81
39
48
78
453
70
226
156
Interest
0
1
−1
0
0
0
1
5
0
0
0
0
0
Depreciation
1
1
1
1
1
1
1
1
1
1
1
2
1
PBT
18
54
59
69
43
49
7
14
53
430
46
110
135
Tax %
21%
3%
6%
−1%
25%
3%
49%
85%
17%
60%
−1%
−15%
23%
Net Profit
15
52
56
70
33
48
4
2
44
171
46
126
104
EPS (₹)
0.1
0.35
0.37
0.47
0.22
0.32
0.02
0.01
0.3
1.14
0.31
0.84
0.69

Profit & Loss

₹ Cr
MMTC profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
23,931
12,607
11,825
16,450
29,439
26,304
30,000
11,795
3,527
3
1
2
3
Expenses
23,931
12,668
11,937
16,428
29,256
26,436
30,045
11,338
3,634
165
139
184
181
Operating Profit
0
−62
−112
23
183
−132
−45
457
−107
−162
−138
−181
−179
OPM %
0%
−0.5%
−0.9%
0.1%
0.6%
−0.5%
−0.1%
3.9%
−3%
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.
Other Income
168
5
136
49
36
−8
−859
−126
2,000
368
258
826
904
Interest
40
31
23
18
68
144
203
225
122
1
1
1
1
Depreciation
24
6
7
5
6
6
6
5
5
4
5
5
5
PBT
105
−94
−6
48
146
−291
−1,112
101
1,766
200
114
639
720
Tax %
26%
3%
435%
21%
25%
0%
−29%
355%
12%
4%
24%
39%
—
Net Profit
−42
−97
−30
38
109
−292
−789
−258
1,562
192
87
387
447
EPS (₹)
−0.28
−0.64
−0.2
0.25
0.72
−1.94
−5.26
−1.72
10.42
1.28
0.58
2.58
2.98
Div. Payout %
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.
80%
41%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
MMTC balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
100
100
100
100
150
150
150
150
150
150
150
150
Reserves
1,264
1,168
1,101
1,103
1,119
733
−50
−298
1,262
1,476
1,552
1,971
Borrowings
436
273
440
519
961
3,850
2,422
2,626
203
159
2
2
Other Liabilities
4,499
2,117
4,207
3,450
2,150
1,677
2,952
2,306
2,064
1,902
1,774
673
Total Liabilities
6,300
3,659
5,848
5,172
4,380
6,410
5,474
4,783
3,678
3,687
3,478
2,796
Fixed Assets
122
57
57
52
49
49
42
38
34
29
24
19
CWIP
153
1
0
0
0
0
0
0
0
0
0
0
Investments
275
214
247
128
147
80
82
102
127
276
328
533
Other Assets
5,749
3,386
5,544
4,992
4,184
6,282
5,350
4,643
3,517
3,382
3,126
2,244
Total Assets
6,300
3,659
5,848
5,172
4,380
6,410
5,474
4,783
3,678
3,687
3,478
2,796

Cash Flow

₹ Cr
MMTC cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−178
−54
273
−455
−367
−2,588
1,704
0
754
−353
−367
−605
Investing
85
87
−68
117
9
−58
11
3
1,959
198
278
579
Financing
−178
−119
110
26
339
2,689
−1,634
−5
−2,547
−43
−1
−1
Net Cash Flow
−271
−86
315
−312
−19
42
80
−3
166
−198
−90
−27
Free Cash Flow
−201
−61
271
−456
−369
−2,594
1,706
−2
754
−353
−367
−605
CFO/OP
−53,291
77
−287
−1,973
−186
1,943
−3,748
0
−873
221
249
288

Ratios

MMTC financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
46
24
16
8
5
28
10
12
42
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.
4,120
Inventory Days
5
13
78
41
4
3
1
1
0
164
—
0
Days Payable
53
29
23
25
15
10
13
18
37
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.
—
—
Cash Conversion Cycle
−1
7
71
23
−6
22
−2
−5
5
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.
4,120
Working Capital Days
5
14
3
16
10
6
−10
−23
−28
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.
ROCE %
6%
−8%
−5%
4%
11%
−3%
−1%
19%
23%
9%
8%
9%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view MMTC insights

64 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 89.93%
  • Public 7.59%
  • DIIs 1.78%
  • Others 0.63%
  • FIIs 0.07%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Documents

Frequently Asked Questions about MMTC

What does MMTC Ltd do?
MMTC Limited is a Government of India enterprise incorporated in 1963 under the Ministry of Commerce & Industry. It focuses on statutory compliance, legacy matters and management of its assets and investments
Where is MMTC Ltd (MMTC) listed?
MMTC Ltd trades as MMTC on the NSE and under code 513377 on the BSE.
Which sector does MMTC Ltd belong to?
MMTC Ltd is classified under the Commercial Services sector, in the Trading & Distributors industry.
What is the PE ratio of MMTC Ltd?
MMTC Ltd trades at a PE ratio of 17.95 as of 4 Nov 2026, on earnings per share of ₹2.98, against a book value of ₹14.14 per share.
What is the 52-week high and low of MMTC Ltd?
Over the last 52 weeks MMTC Ltd has traded between ₹49.41 and ₹78.35 as of 4 Nov 2026.
What is the Return on Equity (ROE) of MMTC Ltd?
MMTC Ltd reported a return on equity of -14.30%. Its debt-to-equity ratio is 0.00.

Company Information

MMTC Limited is a Government of India enterprise incorporated in 1963 under the Ministry of Commerce & Industry. It focuses on statutory compliance, legacy matters and management of its assets and investments

Website mmtclimited.gov.in
CEO Mr. Nitin Kumar Yadav I.A.S.
Employees 296
Listed 9 Apr 2012
Face Value ₹1

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