MMTC Ltd
MMTC NSE
MMTC Ltd
Commercial ServicesNSE: MMTC BSE: 513377 Trading & Distributors
Key Fundamentals
MicrocapTrading & DistributorsCommercial ServicesMarket Cap
₹9,536 Cr
Volatility
Moderate
P/E Ratio
21.32
EBITDA
₹-184 Cr
Return on Equity
5.09%
Debt to Equity
0
Book Value
₹14.14
52W High
₹78.35
52W Low
₹50.1
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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29 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
6- Stock is trading at 4.51 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 -83.7% over past five years.
- Company has a low return on equity of 6.85% over last 3 years.
- Earnings include an other income of Rs.904 Cr.
- Company has high debtors of 2,573 days.
Growth Rate
Revenue Growth
-99.46% ↘
Net Income Growth
534.61% ↗
Cash Flow Change
-2.77% ↘
ROE
-56.94% ↘
ROCE
-42.89% ↘
EBITDA Margin (Avg.)
-147.91% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 18d agoAI 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 7
- 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
- Stock CAGR of 16% over 3 years indicates sustained investor interest and re-rating potential
- 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
anthropic claude-opus-4.6 55d ago 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.
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.
Quarterly Results
| 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 | 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% | — | -4982% | -5123% | -7788% | -1938% | -12224% | -12971% | -1699% | -2005% | -6768% | -18605% | -2969% |
| 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 in Rs | 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
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23,931 | 12,607 | 11,825 | 16,450 | 29,439 | 26,304 | 30,000 | 11,795 | 3,527 | 3 | 1 | 3 | 3 |
| Expenses | 23,931 | 12,668 | 11,937 | 16,428 | 29,256 | 26,436 | 30,045 | 11,338 | 3,634 | 165 | 139 | 185 | 181 |
| Operating Profit | 0 | -62 | -112 | 23 | 183 | -132 | -45 | 457 | -107 | -162 | -138 | -182 | -179 |
| OPM % | 0% | -0.5% | -0.9% | 0.1% | 0.6% | -0.5% | -0.1% | 3.9% | -3% | -4800% | -11820% | -5327% | -6547% |
| Other Income | 168 | 5 | 136 | 49 | 36 | -8 | -859 | -126 | 2,000 | 368 | 263 | 826 | 904 |
| Interest | 40 | 31 | 23 | 18 | 68 | 144 | 203 | 225 | 122 | 1 | 6 | 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 in Rs | -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 % | -59% | -31% | -101% | 80% | 41% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 | 0 |
| Other Liabilities | 4,499 | 2,117 | 4,207 | 3,450 | 2,150 | 1,677 | 2,952 | 2,306 | 2,064 | 1,902 | 1,774 | 675 |
| 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
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -178 | -54 | 273 | -455 | -367 | -2,588 | 1,704 | 0 | 754 | -353 | -363 | -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 | -5 | -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 | -362 | -605 |
| CFO/OP | -53,291 | 77 | -287 | -1,973 | -186 | 1,943 | -3,748 | 0 | -873 | 221 | 246 | 288 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 24 | 16 | 8 | 5 | 28 | 10 | 12 | 42 | 42,537 | 37,136 | 2,573 |
| Inventory Days | 5 | 13 | 78 | 41 | 4 | 3 | 1 | 1 | 0 | 164 | — | 0 |
| Days Payable | 53 | 29 | 23 | 25 | 15 | 10 | 13 | 18 | 37 | 1,53,948 | — | — |
| Cash Conversion Cycle | -1 | 7 | 71 | 23 | -6 | 22 | -2 | -5 | 5 | -1,11,246 | 37,136 | 2,573 |
| Working Capital Days | 5 | 14 | 3 | 16 | 10 | 6 | -10 | -23 | -28 | -21,522 | -53,664 | -25,599 |
| ROCE % | 6% | -8% | -5% | 4% | 11% | -3% | -1% | 19% | 23% | 9% | 8% | 9% |
Documents
1
Announcement under Regulation 30 (LODR)-Change in Management
14h - Ms. Nigar Fatima Husain appointed Government Nominee Director on MMTC board, effective 28 Apr/7 May 2026. 14h - Ms. Nigar Fatima Husain appointed Government Nominee Director on MMTC board, effective 28 Apr/7 May 2026.
2
MMTC Ltd. Informs The Exchange About The Expiry Of Tenure Of Shri Nitin Kumar Yadav, CMD (Addl. Charge), On The Board Of MMTC W.E.F. 28.04.2026.
28 Apr - Nitin Kumar Yadav’s CMD additional charge expires on 28.04.2026; ministry extension awaited. 28 Apr - Nitin Kumar Yadav’s CMD additional charge expires on 28.04.2026; ministry extension awaited.
3
Announcement under Regulation 30 (LODR)-Cessation
29 Apr - MMTC appoints Ms. Nigar Fatima Husain as Government Nominee Director, replacing Shri Asit Gopal. 29 Apr - MMTC appoints Ms. Nigar Fatima Husain as Government Nominee Director, replacing Shri Asit Gopal.
4
MMTC Limited Informs The Exchange About Receipt Of NIL Requests For Re-Lodgment Of Transfer Requests Of Physical Shares As Per SEBI Circular No. HO/38/13/11 (2) 2026-MIRSD-POD/I/3750/2026 Dated January 30, 2026.
6 May - MMTC reported nil re-lodgment requests for physical shares in April 2026. 6 May - MMTC reported nil re-lodgment requests for physical shares in April 2026.
5
Announcement under Regulation 30 (LODR)-Change in Management
24 Apr - Dinesh Dubey's Non-Executive Independent Director term expires on 24 April 2026; Ministry extension pending. 24 Apr - Dinesh Dubey's Non-Executive Independent Director term expires on 24 April 2026; Ministry extension pending.
4
Statement On Impact Of Audit Qualification For The Quarter Ended June 30 2026.
Standalone & Consolidated 11 Aug 2026
General_Announcements
Frequently Asked Questions about MMTC Ltd
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[1]
Where is MMTC Ltd (MMTC) listed?
MMTC Ltd is listed on the Indian stock exchanges. It is listed on NSE: MMTC and BSE: 513377. You can view its live share price, financials, and ratios on Tapetide.
Which sector does MMTC Ltd belong to?
MMTC Ltd operates in the Commercial Services sector within the Trading & Distributors industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of MMTC Ltd?
MMTC Ltd has a market capitalisation of approximately ₹9535.50 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of MMTC Ltd?
The Price-to-Earnings (PE) ratio of MMTC Ltd is 21.32. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of MMTC Ltd?
Over the past 52 weeks, MMTC Ltd has traded between a low of ₹50.1 and a high of ₹78.35. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of MMTC Ltd?
MMTC Ltd has a Return on Equity (ROE) of 5.09%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research MMTC Ltd on Tapetide?
On Tapetide, you can view MMTC Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
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[1]
Website mmtclimited.gov.in
CEO Mr. Nitin Kumar Yadav I.A.S.
Employees 296
Listed 2012-04-09
Face Value ₹ 1
Issued Size 1,50,00,00,000