MMTC Ltd
MMTC NSE
MMTC Ltd
ServicesNSE: MMTC BSE: 513377 Commercial Services & Supplies
Key Fundamentals
MicrocapTrading & DistributorsCommercial ServicesMarket Cap
₹10,577 Cr
Volatility
Moderate
P/E Ratio
26.5
EBITDA
₹-184 Cr
Debt to Equity
0.05
Book Value
₹14.14
52W High
₹78.35
52W Low
₹50.1
Technical Indicators
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
6- Stock is trading at 5.10 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 -86.4% 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.828 Cr.
- Company has high debtors of 6,223 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 1d agoAI opinion · based on fundamentals
Risk high
SELL Better to reduce or avoid Conviction 7/10
MMTC Ltd trades at 5.3x book value with a dismal sales CAGR of -86% over 5 years and ROE of just 6.85% over 3 years. The absence of dividends, extremely high debtors of 6,223 days, and heavy reliance on other income (Rs.828 Cr) make this a poor risk-reward proposition at the current PE of 29x.
Bull Case 6
- Company is almost debt free, reducing balance sheet risk and interest burden
- Stock has delivered a 3-year CAGR of 33%, indicating strong price momentum over the medium term
- TTM sales growth of 21% suggests a potential revenue recovery after years of decline
- 10-year compounded profit growth of 10% shows the company has managed to grow earnings over the long cycle
- Market cap of Rs.11,313 Cr gives it reasonable liquidity and index visibility as a PSU
- Company has actively reduced debt, improving its financial flexibility for future operations
Bear Case 8
- 5-year compounded sales growth is -86%, indicating a severe and sustained revenue collapse
- Debtors days stand at 6,223 days, signalling extreme collection risk and potential bad debts
- Earnings quality is poor with other income of Rs.828 Cr forming a large portion of profits
- PE of 29x is expensive for a company with 3-year ROE of only 6.85% and no earnings visibility
- Zero dividend yield despite reporting profits, indicating poor shareholder return policy
- Trading at 5.32x book value which is unjustified given low ROE of 5% in the last year
- 3-year compounded profit CAGR is -31%, showing earnings have actually shrunk over the medium term
- Zero analyst coverage suggests institutional investors see no investable thesis in this stock
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 1d 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
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 708 | 214 | -210 | 1 | 1 | 1 | 2 | 0 | 0 | 1 | 1 | 0 | 1 |
| Expenses | 729 | 277 | -180 | 37 | 33 | 51 | 32 | 31 | 27 | 24 | 23 | 23 | 114 |
| Operating Profit | -21 | -63 | -30 | -36 | -33 | -51 | -30 | -31 | -27 | -23 | -22 | -23 | -113 |
| OPM % | -3% | -29% | — | -4982% | -5123% | -7788% | -1938% | -12224% | -12971% | -1699% | -2005% | -6768% | -18605% |
| Other Income | 44 | 83 | 86 | 95 | 103 | 95 | 81 | 39 | 48 | 78 | 453 | 70 | 226 |
| Interest | 7 | 0 | 1 | -1 | 0 | 0 | 0 | 1 | 5 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| PBT | 15 | 18 | 54 | 59 | 69 | 43 | 49 | 7 | 14 | 53 | 430 | 46 | 110 |
| Tax % | 34% | 21% | 3% | 6% | -1% | 25% | 3% | 49% | 85% | 17% | 60% | -1% | -15% |
| Net Profit | 10 | 15 | 52 | 56 | 70 | 33 | 48 | 4 | 2 | 44 | 171 | 46 | 126 |
| EPS in Rs | 0.07 | 0.1 | 0.35 | 0.37 | 0.47 | 0.22 | 0.32 | 0.02 | 0.01 | 0.3 | 1.14 | 0.31 | 0.84 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23,931 | 12,607 | 11,825 | 16,450 | 29,439 | 26,304 | 30,000 | 11,795 | 3,527 | 3 | 1 | 1 |
| Expenses | 23,931 | 12,668 | 11,937 | 16,428 | 29,256 | 26,436 | 30,045 | 11,338 | 3,634 | 165 | 139 | 185 |
| Operating Profit | 0 | -62 | -112 | 23 | 183 | -132 | -45 | 457 | -107 | -162 | -138 | -184 |
| OPM % | 0% | 0% | -1% | 0% | 1% | 0% | 0% | 4% | -3% | -4800% | -11820% | -13025% |
| Other Income | 168 | 5 | 136 | 49 | 36 | -8 | -859 | -126 | 2,000 | 368 | 263 | 828 |
| Interest | 40 | 31 | 23 | 18 | 68 | 144 | 203 | 225 | 122 | 1 | 6 | 1 |
| Depreciation | 24 | 6 | 7 | 5 | 6 | 6 | 6 | 5 | 5 | 4 | 5 | 5 |
| PBT | 105 | -94 | -6 | 48 | 146 | -291 | -1,112 | 101 | 1,766 | 200 | 114 | 639 |
| 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 |
| 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 |
| 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 | 285 |
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 | 6,223 |
| 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 | 6,223 |
| Working Capital Days | 5 | 14 | 3 | 16 | 10 | 6 | -10 | -23 | -28 | -21,522 | -53,664 | -61,910 |
| 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.
Frequently Asked Questions about MMTC Ltd
What does MMTC Ltd do?
MMTC, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading a...
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 Services sector within the Commercial Services & Supplies 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 ₹10576.50 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 26.50. 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.
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, a public sector undertaking, was incorporated in 1963, to facilitate foreign trade in India and canalize the export and import of essential minerals and metals. It is under the administrative control of the Ministry of Commerce & Industry, and Government of India and is engaged in trading across minerals, metals, precious metals, agro products, fertilizers & chemicals and coal & hydrocarbons. [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