Minal Industries
Minal Industries (MINALIND) share price was ₹2.78 at the 28 Oct 2026 close; market capitalisation ₹53.35 Cr; sector Commercial Services. The share price fell 24.9% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 30.6% year on year to ₹13.11 Cr and net profit was ₹2.37 Cr, against ₹0.68 Cr a year earlier (compared with Jun 2025). Promoters held 40.80% of Minal Industries in Sep 2026, up 0.01 percentage points from Jun 2026. Its Tapetide Score is 47/100 (Average) as of 28 Oct 2026.
Key Fundamentals
MicrocapCommercial ServicesServicesPrice-based figures as of 29 Oct 2026, 11:08 IST · TTM
Peer Comparison
Services › Commercial Services › Trading & Distributors
| ₹350.80 | 16.12 | 27,425 Cr | 2.70 | 1.68% | 12.32% | 19.00% | 1,28,312 Cr | 1,504 Cr | |
| ₹51.78 | 17.38 | 7,767 Cr | 3.66 | 0.00% | 18.27% | 29.75% | 908 Cr | 447 Cr | |
| ₹567.80 | 17.06 | 3,997 Cr | 4.42 | 2.82% | 24.16% | 31.29% | 478 Cr | 234 Cr | |
| ₹1,171.40 | 23.88 | 1,759 Cr | 4.39 | 0.05% | 18.15% | 26.34% | 2,794 Cr | 74 Cr | |
| ₹12.01 | — | 1,082 Cr | 12.01 | 0.00% | -0.05% | 0.02% | 40 Cr | -0 Cr | |
| ₹590.65 | — | 810 Cr | 59.90 | 0.00% | 53.72% | 74.36% | 12 Cr | -2 Cr | |
| Minal Industries (this company) | ₹2.76 | — | 53 Cr | 1.00 | 0.00% | 0.93% | 1.43% | 49 Cr | 2 Cr |
| Median 7 companies | ₹350.80 | 17.22 | 1,759 Cr | 4.39 | 0.00% | 18.15% | 26.34% | 478 Cr | 74 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 2 companies are not shown because they are not listed on an exchange we cover.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 98/100
Category scores
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
Oscillators
Bullish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 15.56% · Jun 2026
Quarterly Results
| 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
| 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% | -165000% | -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
| 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
| 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 | 11,099 | 24,99,794 | 51,403 | 20,44,730 | 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 | 11,607 | 46,49,096 | 39,430 | 416 | 116 | 15.8 | 86.67 | 31.59 | 202 | 249 | 119 | 220 |
| Cash Conversion Cycle | 51.24 | -19,44,903 | 13,600 | 20,45,029 | 959 | 835 | 2,373 | 1,244 | 1,453 | 949 | 625 | 706 |
| Working Capital Days | 1,610 | 3,64,088 | 7,065 | 29,02,115 | 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
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59 extracted metrics + investor summaries across FY08–FY27.
Documents
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Company Information
Incorporated in 1988, Minal Industries Ltd is a Diamantaire and Jewellery and Engineering company.[1]
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