---
title: "Malpani Pipes & Fittings Ltd (544351) — Share Price, Financials & Analysis"
symbol: "544351"
company: "Malpani Pipes & Fittings Ltd"
canonical: "https://tapetide.com/stocks/544351"
isin: "INE0YON01014"
nse_symbol: "MALPANIPIPESANDFITTINGSLTD"
bse_code: "544351"
sector: "Industrial Products"
industry: "Plastic Products - Industrial"
market_cap_cr: 67.4
generated_at: "2026-09-13T19:17:03.553Z"
---

# Malpani Pipes & Fittings Ltd (544351)

Canonical page: https://tapetide.com/stocks/544351

## Company

- **NSE Symbol:** MALPANIPIPESANDFITTINGSLTD
- **BSE Code:** 544351
- **ISIN:** INE0YON01014
- **Sector:** Industrial Products
- **Industry:** Plastic Products - Industrial
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2025-02-04
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** malpanipipes.com

## About

Incorporated in 2017, Malpani Pipes and Fittings Limited is engaged in manufacturing high-grade plastic pipes.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:46:34.843522Z.

- **Market Cap:** ₹67.4 Cr
- **Classification:** SME
- **P/E (reported):** 7.5
- **Book Value:** ₹51.67
- **Price to Book:** 1.21
- **Dividend Yield:** 0%
- **ROE:** 17.3%
- **ROCE:** 24.32%
- **Debt to Equity:** 0.39
- **Revenue (yearly):** ₹163.03 Cr
- **Net Income:** ₹9.24 Cr
- **EBITDA:** ₹16.49 Cr
- **52-Week High:** ₹85.9
- **52-Week Low:** ₹48.1
- **RSI (14):** 49.61

## Tapetide Score

- **Score:** 57 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 77.8 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 52.18 | 9% |
| growth | 61.59 | 9% |
| momentum | 41.51 | 12% |
| ownership | 38.55 | 24% |
| quality | 68.25 | 22% |
| valuation | 77.57 | 24% |

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

## Key Insights

### Strengths

- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.5%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -74.72% | -147.08% | -368.98% |
| ebitda margin growth | -19.15% | -7.2% | 5.23% | 83.24% |
| net income growth | -20.41% | 14.07% | 63% | 926.67% |
| revenue growth | -16.03% | 15.05% | 26% | 36.11% |
| roce | — | -48.96% | -10.82% | 28.78% |
| roe | — | -65.12% | 34.19% | -51.49% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 67 | 58 | 83 | 70 | 93 |
| Expenses | 63 | 52 | 74 | 63 | 84 |
| Operating Profit | 4 | 6 | 9 | 7 | 10 |
| OPM % | 6 | 10 | 11 | 10 | 10 |
| Other Income | 0 | 0 | 0 | 1 | 0 |
| Interest | 2 | 1 | 2 | 2 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 2 | 4 | 7 | 5 | 7 |
| Tax % | 27 | 25 | 26 | 25 | 26 |
| Net Profit | 1 | 3 | 5 | 4 | 5 |
| EPS in Rs | 5.93 | 4 | 4.56 | 3.6 | 4.78 |

### Profit & Loss

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

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 35 | 82 | 141 | 141 | 163 |
| Expenses | 33 | 78 | 128 | 126 | 147 |
| Operating Profit | 2 | 4 | 13 | 15 | 16 |
| OPM % | 5 | 5 | 9 | 10 | 10 |
| Other Income | 0 | 0 | 0 | 1 | 1 |
| Interest | 1 | 1 | 3 | 3 | 4 |
| Depreciation | 0 | 0 | 1 | 1 | 2 |
| Profit before tax | 1 | 3 | 10 | 11 | 12 |
| Tax % | 25 | 25 | 27 | 26 | 26 |
| Net Profit | 1 | 2 | 7 | 8 | 9 |
| EPS in Rs | 4.61 | 10.78 | 30.33 | 7.49 | 8.38 |
| Dividend Payout % | 0 | 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 | 2 | 2 | 2 | 11 | 11 |
| Reserves | 2 | 4 | 12 | 36 | 45 |
| Borrowings | 9 | 20 | 30 | 30 | 22 |
| Other Liabilities | 9 | 14 | 16 | 36 | 44 |
| Total Liabilities | 21 | 39 | 61 | 112 | 122 |
| Fixed Assets | 2 | 7 | 7 | 12 | 19 |
| CWIP | 5 | 0 | 3 | 3 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 15 | 32 | 51 | 97 | 103 |
| Total Assets | 21 | 39 | 61 | 112 | 122 |

### 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 | 0 | -6 | -8 | -14 | 16 |
| Cash from Investing Activity | -6 | -1 | -4 | -6 | -5 |
| Cash from Financing Activity | 5 | 9 | 10 | 20 | -11 |
| Net Cash Flow | 0 | 2 | -2 | 0 | 0 |
| Free Cash Flow | -4 | -7 | -12 | -20 | 11 |
| CFO/OP | 35 | -113 | -40 | -77 | 113 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 66 | 27 | 30 | 129 | 99 |
| Inventory Days | 58 | 91 | 91 | 117 | 129 |
| Days Payable | 66 | 41 | 32 | 96 | 104 |
| Cash Conversion Cycle | 58 | 77 | 88 | 150 | 125 |
| Working Capital Days | 19 | 12 | 27 | 94 | 95 |
| ROCE % | — | 22 | 36 | 23 | 20 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 100% | 73.28% | 73.78% | 73.78% |
| FIIs | 0% | 8.12% | 6% | 4.41% |
| DIIs | 0% | 0.1% | 0.1% | 0.07% |
| Government | 0% | 0% | 0% | 0% |
| Public | 0% | 14.46% | 17.04% | 18.84% |
| Others | 0% | 4.04% | 3.07% | 2.89% |
| No. of Shareholders | 14 | 683 | 645 | 570 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 6 / 4 / 9

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 60.57 | Buy |
| EMA (10) | 61.43 | Buy |
| SMA (20) | 61.99 | Buy |
| EMA (20) | 62.15 | Sell |
| SMA (50) | 64.01 | Sell |
| EMA (50) | 63.63 | Sell |
| SMA (100) | 64.76 | Sell |
| EMA (100) | 65.33 | Sell |
| SMA (200) | 69.72 | Sell |
| EMA (200) | 67.33 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.7 | Neutral |
| MACD (12,26,9) | -1.05 | Buy |
| Stochastic (14,3,3) | 76.61 | Neutral |
| ADX (14) | 27.86 | Buy |
| Williams %R (14) | -17.4 | Sell |
| ATR (14) | 3.81 | High Volatility |
| ROC (12) | 2.58 | Buy |
| Stoch RSI (14) | 85.22 | Sell |
| UO (7,14,28) | 58.57 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a519a6fc-31c8-4bdd-9f9c-2c874acc8e42.pdf) |
| 2026-09-04 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bcee9ed8-f3b4-433f-bd38-dfd48f50dadb.pdf) |
| 2026-09-04 | [Notice Of 9Th Annual General Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1a5a0e3f-e40d-4873-9a5b-be181307acbb.pdf) |
| 2026-09-01 | [Board Meeting Outcome for Outcome Of Board Meeting Held On Today I.E. On September 01 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4efadacc-a24a-42ef-8ed9-3439ba6fb420.pdf) |
| 2026-09-01 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5c3b5859-f90a-4863-a8b0-1111023388a1.pdf) |
| 2026-07-14 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1a3ae490-1e17-4357-b82a-1cebe40b610c.pdf) |
| 2026-05-28 | [Board Meeting Outcome for Outcome Of Board Meeting Held On Today I.E. On May 28 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cce2924a-df43-4aa3-8204-1bc68126ebe4.pdf) |
| 2026-05-28 | [Announcement under Regulation 30 (LODR)-Acquisition](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=48f091f7-e7a6-4fef-8200-67218d764a64.pdf) |
| 2026-05-28 | [Approved An Acquisition Of 100% Equity Shares Of M/S. Terex Industries Private Limited](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6cafc782-a547-451c-b31b-3519e8d55bf3.pdf) |
| 2026-05-18 | [Board Meeting Intimation for Meeting To Be Held On Thursday May 28 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cfbfe42e-8739-4a1f-a2fa-ef0dcc7af99e.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-28 | [Audited Financial Results For Half Year And Year Ended On March 31 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2683583c-4fcf-4ac2-bd7c-da1bd48aad12.pdf) |
| 2025-11-12 | [Unaudited Financial Results Of The Company For The Half Year Ended September 30 2025 Along With Limited Review Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b448e37b-9c3f-480f-92da-50b26c034a8e.pdf) |
| 2025-05-29 | [Results-Financial Result For March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5ff70285-9059-4e50-9f6c-1cece6c4915c.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 8 Apr - Regulation 74(5) certificate for quarter ended March 31, 2026; shares fully demat, no rematerialisation requests. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Apr - Regulation 74(5) certificate for quarter ended March 31, 2026; shares fully demat, no rematerialisation requests.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/222e2ba3-788d-45b4-b365-7a9f98f6dddf.pdf) |
| 19 Jan - Q3 revenue ₹4,665.17L (+36.97%); 9M ₹11,621.31L (+26.6%); ₹70+ crore order book. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 19 Jan - Q3 revenue ₹4,665.17L (+36.97%); 9M ₹11,621.31L (+26.6%); ₹70+ crore order book.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/aa410f7d-d676-4174-97a8-1eb1624a3225.pdf) |
| 19 Feb - Transcript of Investor Call held on 16th February, 2026 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript 19 Feb - Transcript of Investor Call held on 16th February, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/db5503e9-eba0-4917-8af9-9180959bbbea.pdf) |
| 16 Feb - Audio recording of investor call on unaudited Q3 and nine-month FY26 results (ended 31 Dec 2025) available online. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 16 Feb - Audio recording of investor call on unaudited Q3 and nine-month FY26 results (ended 31 Dec 2025) available online.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b479f5cb-1d6d-44e6-bb9b-6af8885af0d8.pdf) |
| 13 Feb - Investor Presentation In connection with Un-audited (Standalone and Consolidated) Financial Result for the Quarter and Nine Months ended 31st December, 2025 | [Announcement under Regulation 30 (LODR)-Investor Presentation 13 Feb - Investor Presentation In connection with Un-audited (Standalone and Consolidated) Financial Result for the Quarter and Nine Months ended 31st December, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7bd8d03d-b7cd-40dc-b23c-076bf33e9360.pdf) |
| 12 Jan - RTA certificate: all shares dematerialized; no rematerialisation requests for quarter ended Dec 31, 2025. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 12 Jan - RTA certificate: all shares dematerialized; no rematerialisation requests for quarter ended Dec 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f275a644-aa35-43f3-adad-17d27d5ff54f.pdf) |
| 12 Feb - Newspaper Publication of Financial Results for the Quarter ended December, 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Feb - Newspaper Publication of Financial Results for the Quarter ended December, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d735607e-770f-4667-aae0-3145f5c1bf4e.pdf) |
| 11 Feb - Investors'' Conference Call is being organized to discuss the financial performance of the Company for the Quarter and Nine Months ended 31st December, 2025 as … | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Feb - Investors'' Conference Call is being organized to discuss the financial performance of the Company for the Quarter and Nine Months ended 31st December, 2025 as …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1e6d37ba-b118-472c-9b7b-8bd16c264d2a.pdf) |
| 11 Feb - Approved Q3 results; slump sale (incl. land/building) of TN Unit-I to Sandhar Ascast, completion expected March 2026. | [Financial Results For December Quarter 2025 11 Feb - Approved Q3 results; slump sale (incl. land/building) of TN Unit-I to Sandhar Ascast, completion expected March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8c928302-ca1e-4d64-81b8-ee696697a3ae.pdf) |
| 10 Mar - Internal auditor CA Aman Jain resigned effective March 10, 2026; CA Aditya Parwal appointed from March 11, 2026. | [Announcement under Regulation 30 (LODR)-Cessation 10 Mar - Internal auditor CA Aman Jain resigned effective March 10, 2026; CA Aditya Parwal appointed from March 11, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3c2ec389-605a-43f7-bcec-6c90dec5596c.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ef7b9f83-c16e-4517-9ce0-f1b8164163d3.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/34424720-06c2-4eee-9a0d-e017c9279039.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/629af11f-4d5d-4037-b16d-4252dc20a08b.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b0315973-ba8e-43fa-9531-550be87a837d.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/772a727b-9a02-4878-b65b-1b4ccf08ae6f.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/05df6b00-913e-42eb-8254-7b17d924f6b5.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e93921a8-7914-4cc1-85cf-3ea01709c70e.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b7207067-4341-4523-87fe-7381500d0df0.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bc5df288-1a0f-477f-99d1-6f9884bfea21.pdf) |
| May 2022 | [Concall - May 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d5db6722-0266-490e-b424-543f96b8ea17.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2025-11-12 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ef7b9f83-c16e-4517-9ce0-f1b8164163d3.pdf) |
| 2025-06-10 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aa18232d-9bd5-4b88-a13f-ca1f19fbdc91.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/600a6538-2f71-442d-ace2-9cd0599fd26b.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1bbcc01d-f828-45e7-8b76-b7e712e691a6.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2b68c214-d852-4d38-ac5c-cd755ea9c5f1.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5d75f58a-2c12-46ff-aed1-03251f69315e.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/541163/74635541163.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/541163/69871541163.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/541163/65131541163_25_09_20.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/541163/5411630319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/541163/5411630318.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 2026-09-13T19:17:03.553Z.