Minal Industries Limited

BSE: MINALIND522235ISIN INE097E01028

Services
Trading & Distributors

Share price

₹3.27+0.15 (+4.81%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹6.00
52W low: ₹1.78
Off 52W high: -45.50%
1M return: -23.24%
3M return: +58.74%
6M return: +32.39%
1Y return: -10.66%
20D avg volume: 23,157
50 DMA: ₹4.26
200 DMA: ₹2.89

Key ratios Consolidated

Market cap: ₹62.75 Cr
Current price: ₹3.27
52W high / low: ₹6.00 / ₹1.78
Face value: ₹2.00
P/E: 27.43
P/B: 1.18
EPS (TTM): ₹0.12
Book value / share: ₹2.77
ROE: —
ROCE: 1.40%
Operating margin: —
Net margin: —
Debt / equity: 0.09
Net debt: ₹0.88 Cr
Interest cover: 20.40
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 489.4 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	13.11	15.18	8.71	8.90	10.04	19.16	8.87	10.77	12.31	—
	0.39	1.19	0.34	0.58	0.18	0.22	0.87	0.23	0.15	—
	13.50	16.37	9.05	9.48	10.22	18.95	9.75	11.01	12.46	—
	11.23	14.45	10.05	10.21	9.46	15.43	10.01	10.75	11.78	—
	6.63	4.40	6.59	5.31	5.33	15.31	4.20	6.98	5.46	—
	0.29	0.21	0.00	0.00	0.00	0.00	—	—	—	—
	1.29	1.51	1.13	1.09	1.05	0.98	0.93	0.75	1.04	—
	0.02	0.01	0.02	-0.01	0.02	0.07	0.04	0.03	0.03	—
	0.14	0.14	0.14	0.14	0.14	0.13	0.14	0.14	0.13	—
	2.79	2.43	4.20	2.41	1.89	0.85	2.74	2.54	3.60	—
	2.27	1.92	-0.99	-0.73	0.77	3.51	-0.26	0.26	0.68	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	2.27	1.92	-0.99	-0.73	0.77	3.51	-0.26	0.26	0.68	—
	-0.10	0.30	0.00	0.02	0.09	-0.02	0.25	0.03	0.28	—
	2.37	1.62	-0.99	-0.71	0.68	3.54	-0.01	0.29	0.39	—
	0.12	0.08	-0.05	-0.04	0.04	0.18	—	0.04	0.02	—
Key metrics
	2.43	2.07	-0.83	-0.60	0.93	3.71	-0.08	0.43	0.84	—
	18.50%	13.60%	-9.50%	-6.70%	9.30%	19.40%	-0.90%	4.00%	6.80%	—
	18.10%	10.70%	-11.40%	-8.00%	6.80%	18.50%	-0.10%	2.70%	3.20%	—
	—	2.70%	—	-1.00%	—	5.00%	—	—	—	—
	30.60%	-20.80%	-1.80%	-17.40%	-18.40%	—	—	—	—	—
	248.50%	-54.20%	-9,800.00%	-344.80%	74.40%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	45.90	42.83	51.12	—
	2.50	2.29	1.04	—
	48.40	45.13	52.16	—
	45.94	44.16	47.97	—
	22.93	18.25	31.94	—
	0.50	3.58	0.00	—
	5.02	4.77	3.70	—
	0.04	0.05	0.17	—
	0.56	0.56	0.55	—
	11.83	10.93	9.72	—
	2.47	0.97	4.18	—
	0.00	0.00	0.00	—
	2.47	0.97	4.18	—
	0.22	0.37	0.03	—
	2.29	0.60	4.21	—
	0.11	0.03	0.22	—
Key metrics
	3.07	1.58	4.90	—
	6.69%	3.70%	9.60%	—
	4.99%	1.40%	8.20%	—
	—	1.40%	6.10%	—
	-6.02%	-16.20%	—	—
	-49.11%	-85.70%	—	—
	—	7.01	5.71	—
	—	12.37	1.36	—
	—	0.09	0.12	—
	—	0.88	6.64	—
	—	489.4	462.1	—
Balance sheet
	—	87.73	85.16	—
	—	81.19	78.51	—
	—	4.80	0.84	—
	—	16.73	24.03	—
	—	56.63	51.38	—
	—	0.66	1.09	—
	—	2.94	3.00	—
	—	15.93	10.70	—
	—	17.09	13.35	—
	—	5.68	7.48	—
	—	0.41	0.41	—
	—	5.27	7.07	—
	—	64.15	63.42	—
Cash flow
	—	7.42	5.71	—
	—	-1.49	-1.57	—
	—	-1.97	-3.58	—
	—	0.41	0.00	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	0.19	0.23	0.34	1.04	5.66	0.00	0.02	—	0.75	—
	0.19	0.19	0.10	0.08	0.08	0.05	0.08	0.03	0.05	—
	0.38	0.42	0.43	1.11	5.74	0.05	0.10	0.03	0.81	—
	0.73	0.78	0.60	1.23	5.37	0.58	0.31	0.88	0.35	—
	0.00	0.00	0.33	1.02	2.03	0.00	—	—	—	—
	0.29	0.21	0.00	0.00	0.00	0.00	—	—	—	—
	0.39	0.44	0.19	0.15	0.15	0.11	0.11	0.10	0.12	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01	—
	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	—
	0.15	0.11	0.08	0.07	0.04	0.45	0.16	0.04	0.12	—
	-0.35	-0.36	-0.17	-0.12	0.38	-0.53	-0.20	-0.85	0.46	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	-0.35	-0.36	-0.17	-0.12	0.38	-0.53	-0.20	-0.85	0.46	—
	0.02	0.43	0.00	0.00	0.00	0.01	—	0.12	0.12	—
	-0.33	-0.79	-0.17	-0.12	0.38	-0.52	-0.20	-0.73	0.34	—
	-0.04	-0.04	-0.01	-0.01	0.02	-0.03	-0.01	-0.04	0.02	—
Key metrics
	-0.33	-0.35	-0.16	-0.11	0.39	-0.52	-0.18	-0.83	0.48	—
	-173.70%	-152.20%	-47.10%	-10.60%	6.90%	—	-900.00%	-2,766.70%	64.00%	—
	-173.70%	-343.50%	-50.00%	-11.50%	6.70%	—	-1,000.00%	-2,433.30%	45.30%	—
	—	-1.00%	—	-0.30%	—	-1.40%	—	—	—	—
	-96.60%	—	1,600.00%	3,366.70%	654.70%	—	—	—	—	—
	-186.80%	-51.90%	15.00%	83.60%	11.80%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	1.80	7.26	0.78	—
	0.56	0.45	0.22	—
	2.34	7.71	1.00	—
	3.34	7.97	2.12	—
	1.35	0.00	0.00	—
	0.50	3.58	0.00	—
	1.17	0.93	0.45	—
	0.00	0.00	0.02	—
	0.05	0.04	0.04	—
	0.41	0.29	0.77	—
	-1.00	-0.26	-1.12	—
	0.00	0.00	0.00	—
	-1.00	-0.26	-1.12	—
	0.45	0.43	0.01	—
	-1.41	-0.69	-1.12	—
	-0.10	-0.04	-0.06	—
Key metrics
	-0.95	-0.22	-1.06	—
	-52.78%	-3.00%	-135.90%	—
	-78.33%	-9.50%	-143.60%	—
	—	-0.70%	-2.90%	—
	—	830.80%	—	—
	—	38.40%	—	—
	—	5.49	-0.33	—
	—	-8.38	0.29	—
	—	0.00	0.00	—
	—	-4.25	-0.07	—
	—	331.8	6,144.1	—
Balance sheet
	—	37.33	38.17	—
	—	27.84	28.92	—
	—	4.25	0.07	—
	—	0.41	4.04	—
	—	6.32	9.45	—
	—	0.30	0.25	—
	—	0.67	0.42	—
	—	0.13	0.36	—
	—	0.24	0.40	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	37.07	37.77	—
Cash flow
	—	5.78	-0.33	—
	—	-1.61	0.56	—
	—	0.00	-0.20	—
	—	0.29	0.00	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -69.59%
Profit YoY (TTM): -31.78%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -6.02%
Profit YoY (TTM): -49.11%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 40.80%

Quarter	September 2026	June 2026
Promoter %	40.80%	40.78%

Holder	Type	Holding	Previous	Change
ANILA SHRIKANT PARIKH	Promoter Group	38.98%	38.98%	0.00%
CHAMPAK K. MEHTA	Public	10.95%	10.95%	0.00%
MAHENDRA CHANDULAL SHAH	Public	10.94%	10.94%	0.00%
ANANT AJAY MEHTA	Public	9.20%	9.20%	0.00%
DIVYANSHU NAVLAKHA	Public	9.12%	9.12%	0.00%
AANISHKA CONSTRUCTION PVT LTD	Public	5.12%	5.12%	0.00%
AANYORA CONSTRUCTION PVT LTD	Public	4.68%	4.68%	0.00%
SHRIKANT JESINGLAL PARIKH	Promoter	1.41%	1.39%	+0.02%
VIKRAM JESINGBHAI PARIKH	Promoter Group	0.41%	0.41%	0.00%
AKASH VIKRAMBHAI PARIKH	Promoter Group	0.00%	0.00%	0.00%
SONA AKASH PARIKH	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Redington Limited	28,660	366.60	18.17	19.00%	+31.26% TTM	-17.17% TTM	+46.46%
MMTC Ltd.	8,025	53.50	17.94	21.60%	-19.71% TTM	+355.55% TTM	-20.53%
MSTC Limited	4,106	583.25	17.52	31.80%	+21.02% TTM	-44.88% TTM	+6.22%
CREATIVE NEWTECH LIMITED	2,094	1,394.20	25.97	26.40%	—	—	—
Pervasive Commodities Limited S	1,137	12.62	74.24	0.00%	+111.30% TTM	+197.12% TTM	—
BN AGROCHEM LIMITED	1,117	114.20	65.40	4.20%	+84.51% TTM	-60.97% TTM	-68.29%
RRP DEFENSE LIMITED S	802	584.75	-330.37	-8.00%	+39.37% TTM	-364.13% TTM	-35.71%
The Yamuna Syndicate Ltd	750	24,400.00	8.22	0.30%	+11.33% TTM	-16.43% TTM	-32.22%
Shiv Aum Steels Limited	741	545.00	—	—	—	—	—
Riddhi Siddhi Gluco Biols Ltd	636	670.90	-27.71	2.80%	-37.98% TTM	+38.40% TTM	+20.31%
State Trading Corporation of India	624	104.00	—	-16.70%	—	—	-21.92%
Arvaya Healthcare Limited S	569	118.45	-311.71	-2.10%	-47.37% TTM	-2,742.86% TTM	+148.22%
Oswal Agro Mills Ltd.	548	40.86	-15.96	1.50%	-99.98% TTM	-127.15% TTM	-46.29%
SMT ENGINEERING LIMITED	459	254.15	18.72	24.80%	+248.17% TTM	+377.43% TTM	+169.03%
Filtron Engineers Ltd. S	451	71.04	1,420.80	0.30%	-100.00% TTM	+363.64% TTM	+67.00%
Kothari Products Ltd.	364	61.00	18.72	1.60%	+7.57% TTM	+124.93% TTM	-32.00%
Balgopal Commercial limited	337	145.00	-62.76	-12.50%	-96.08% TTM	-231.62% TTM	-35.47%
PIPAN OILS LIMITED S	323	184.25	-118.11	-191.70%	—	-1,342.11% TTM	+35.19%
VEGA JEWELLERS LIMITED S	315	61.95	10.45	31.50%	+465.43% TTM	+873.55% TTM	+60.24%
Novalum Materials Limited S	307	46.74	274.94	7.70%	+290.48% TTM	+239.39% TTM	+36.63%
Sakuma Exports Ltd.	285	1.82	26.72	1.80%	-13.44% TTM	-0.93% TTM	-34.53%
Parshva Enterprises Limited	254	249.05	950.47	3.60%	+0.24% TTM	+8.33% TTM	+32.09%
Polo Queen Industrial and Fintech Limited	253	7.54	110.89	2.50%	-2.02% TTM	-15.56% TTM	-79.87%
Sicagen India Limited	225	56.94	8.91	7.40%	+29.43% TTM	+50.03% TTM	-9.42%
Chandrima Mercantiles limited S	218	6.55	-163.75	4.30%	-69.52% TTM	-134.73% TTM	-34.63%
Minal Industries Limited	63	3.27	27.43	1.40%	-6.02% TTM	-49.11% TTM	-10.66%

Filings & corporate actions

Recent announcements

Minal Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/11/2026 ,inter alia, to consider and approve 1. Approve Un-audited Standalone ....31 Oct 2026 · Board Meeting / Board Meeting
Compliance Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 for quarter ended 30th September, 20265 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Voting Results and Scrutinizer''s Report of the 38th Annual General Meeting of the Company held on Tuesday, 29th September, 202629 Sep 2026 · AGM/EGM / AGM
Voting Results and Scrutinizer''s Report of the 38th Annual General Meeting of the Company held on Tuesday, 29th September, 202629 Sep 2026 · AGM/EGM / AGM
Proceedings of the 38th Annual General Meeting of the Company held on Tuesday, 29th September, 202629 Sep 2026 · Company Update / General
Proceedings of the 38th Annual General Meeting of the Company held on Tuesday, 29th September, 202629 Sep 2026 · AGM/EGM / AGM
Outcome of the 38th Annual General meeting of the Company held on Tuesday, 29th September, 202629 Sep 2026 · AGM/EGM / AGM
Intimation relating to Closure of Trading Window24 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Intimation relating to Demise of Promoter pursuant to Regulation 30 and 31(A)(6)(c) of SEBI LODR, 201521 Sep 2026 · Company Update / General
Intimation regarding Demise of Promoter of the Company pursuant to Regulation 30 and 31A(6)(c) of SEBI LODR, 201521 Sep 2026 · Company Update / Demise
Intimation relating to post dispatch advertisement of AGM4 Sep 2026 · Company Update / Newspaper Publication
Intimation relating to Dispatch of Physical Letter to shareholders whose email ids are not registered with the Company3 Sep 2026 · Company Update / General
Intimation relating to Book Closure for the purpose of Annual General Meeting3 Sep 2026 · Corp. Action / Book Closure
Notice of 38th Annual General Meeting of the Company scheduled to be held on Tuesday, 29th September, 2026 at 11.30 AM through VC/OAVM Mode3 Sep 2026 · AGM/EGM / AGM
Annual Report of the Company for FY 2025 - 20263 Sep 2026 · Others / Reg. 34 (1) Annual Report
Outcome of the Board Meeting dated 27th August, 202627 Aug 2026 · Others / Outcome without intimation
Clarification on Movement in the price of equity shares of the company.24 Aug 2026 · Company Update / General
The Exchange has sought clarification from Minal Industries Ltd on August 24, 2026, with reference to Movement in Price. <BR><BR>The reply is awaited.24 Aug 2026 · Company Update / Clarification
Intimation regarding acquisition of Equity Shares by Promoter and Director18 Aug 2026 · Company Update / General
Newspaper Publication of Unaudited Standalone and Consolidated Financial results for Quarter ended June 30, 2026.14 Aug 2026 · Company Update / Newspaper Publication
Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.13 Aug 2026 · Result / Financial Results
Outcome of Board Meeting held on August 13, 2026 for the Quarter ended June 30, 2026.13 Aug 2026 · Board Meeting / Outcome of Board Meeting
Minal Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2026 ,inter alia, to consider and approve Board Meeting Intimation Under ....10 Aug 2026 · Board Meeting / Board Meeting
Appointment of Company Secretary and Compliance Officer.5 Aug 2026 · Company Update / Appointment of Company Secretary / Compliance Officer
Appointment of Company Secretary and Compliance Officer.5 Aug 2026 · Company Update / Change in Management
Appointment of Mr. Saket Rajendra Sugandh (Membership No. ACS 34266) as the Company Secretary and Compliance Officer, designated as Key Managerial Personnel of the Company with effect from ....5 Aug 2026 · Others / Outcome without intimation
Compliance Certificate under Reg.74(5) of SEBI(DP) Regulations, 2018 for quarter ending 30th June, 20267 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Intimation of Closure of Trading Window24 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Detailed Reasons for delay in submission of Financial Results for Financial year ending 31.03.202619 Jun 2026 · Company Update / General
Submission of Audited Financial Results for Financial year ending on 31.03.2026 as per Email of BSE17 Jun 2026 · Result / Financial Results
Submission of Audited Financial Results for quarter and Financial year ending 31.03.2026 as per Email of BSE13 Jun 2026 · Result / Financial Results
Newspaper Publication of Audited Financial Results for quarter and Financial year ending 31.03.20266 Jun 2026 · Company Update / Newspaper Publication
Appointment of Internal Auditor for FY 2026-274 Jun 2026 · Company Update / Change in Management
Standalone and Consolidated Financial Results for year ended 31.03.20264 Jun 2026 · Result / Financial Results
Outcome of Board Meeting held on 4th June 20264 Jun 2026 · Board Meeting / Outcome of Board Meeting
Minal Industries Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 04/06/2026 ,inter alia, to consider and approve Audited Financial Results ....1 Jun 2026 · Company Update / Board Meeting Rescheduled
Intimation of Postponing of the Board Meeting scheduled to be held on 29th May, 202629 May 2026 · Company Update / General
Intimation relating to Postpontment of Board Meeting for Approval of Financial Statements29 May 2026 · Result / Financial Results
Intimation for Postponement of Board Meeting scheduled to be held on 29th May, 202629 May 2026 · Company Update / General
Annual Secretarial Compliance Report for year ended 31st March, 202626 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance

Board meetings

5 Nov 2026 Board Meeting - Financial Results
13 Aug 2026 Board Meeting - Financial Results