MarketFriction

Master Trust Ltd

NSE MASTERTR · BSE 511768 · Stockbroking & Allied
₹81.66 -0.58%
NSE close2026-10-01
52 week range55.60 - 164.50
Market cap₹1,021 Cr.
P/E7.64
Price band 20% Delivery 23.0%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales120124164160154148122132127137181150
Expenses7571959890846980687611788
Operating Profit465369626464535259616462
OPM %38%42%42%39%42%43%43%39%47%45%35%41%
Other Income000000000000
Interest141516151516151515151415
Depreciation111111111111
Profit before tax313752454947373643454946
Tax %24%24%27%24%24%26%34%24%27%29%26%25%
Net Profit232838353735252731323635
EPS in Rs2.142.553.483.143.283.132.192.412.552.562.932.82
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales104109150134136225331339500584576594
Expenses8285122100103161222219297341340348
Operating Profit222528343363109120204243236246
OPM %21%23%19%25%24%28%33%35%41%42%41%41%
Other Income017000000000
Interest141519131819353356615959
Depreciation223121234444
Profit before tax59132013437285144179172183
Tax %32%33%23%14%8%20%23%22%25%27%27%
Net Profit46101712345566108131126134
EPS in Rs0.330.540.921.531.133.165.076.069.9311.6910.2510.86
Dividend Payout %0%0%11%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth19%21%19%7%
Compounded Profit Growth43%30%24%8%
Stock Price CAGR38%36%6%-40%
Return on Equity17%21%21%17%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital111111111111111111111112
Reserves156160166174196203245289354493627805
Borrowings139857569691049597162187258228
Other Liabilities1111722132372982404356317061,1741,0571,200
Total Liabilities4184284644915745577861,0281,2331,8661,9532,244
Fixed Assets111016151818182122222120
CWIP000000000000
Investments1823171432191576151933
Other Assets3883954304625245207531,0001,2041,8291,9132,191
Total Assets4184284644915745577861,0281,2331,8661,9532,244
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-85452-28214-24-15177458-37311
Cash from Investing Activity29127-1819126-164-49354-325
Cash from Financing Activity-1000-10000251856
Net Cash Flow21545456233-13-913-103543
Free Cash Flow-105351-47813-26-19172453-40308
CFO/OP-19%258%222%3%247%47%-29%1%164%241%5%150%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days32130628827824894107615391100117
Inventory Days
Days Payable
Cash Conversion Cycle32130628827824894107615391100117
Working Capital Days1578-107-85-432-442-529-575-645-664-473-542
ROCE %10%7%9%13%12%10%19%29%25%33%30%24%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.83%74.83%74.83%73.77%72.49%72.49%72.49%69.24%71.93%71.93%71.93%71.93%
FIIs0.00%0.00%0.06%0.02%0.07%0.03%0.02%0.15%0.00%0.02%0.02%0.03%
DIIs0.00%0.06%0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.05%0.00%0.00%
Public25.18%25.10%25.11%26.23%27.44%27.47%27.49%30.61%28.01%28.00%28.05%28.04%
No. of Shareholders3,6423,7824,1464,4256,3969,84210,34910,17610,16312,40812,74715,147

Fundamentals

Market Cap₹ 1,021 Cr.
Current Price₹ 83.1
Stock P/E7.64
Book Value₹ 66.4
ROCE23.8 %
ROE17.3 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)8%
Consolidated figures.
Valuation
Market capRs 1,003 Cr
Enterprise valueRs -593 Cr
P/E (TTM)7.51x
Price to book1.23x
Price to sales1.69x
EV / EBITDA-2.41x
EV / EBIT-2.45x
EV / sales-1.00x
Price to cash flow3.22x
Earnings yield13.32%
P/E, 3-year average6.87x
P/B, 3-year average1.42x
P/E, 5-year average3.89x
P/B, 5-year average0.80x
Profitability
Operating margin (excl. other income)41.01%
Operating margin (incl. other income)41.01%
EBITDA margin41.45%
Pre-tax margin30.78%
Net profit margin22.50%
Net margin, latest quarter23.13%
ROE17.33%
ROCE23.89%
ROA6.01%
ROE, 3-year average21.72%
ROCE, 3-year average28.97%
ROA, 3-year average6.62%
ROE, 5-year average20.97%
ROCE, 5-year average28.20%
ROA, 5-year average6.35%
Tax rate26.90%
Growth
Sales growth (latest year)-1.38%
Profit growth (latest year)-3.92%
Sales CAGR, 3 years19.30%
Sales CAGR, 5 years20.70%
Profit CAGR, 3 years24.15%
Profit CAGR, 5 years29.69%
Sales growth QoQ-17.06%
Profit growth QoQ-3.91%
Sales growth YoY (latest quarter)13.77%
Profit growth YoY (latest quarter)27.81%
Per share
EPS (TTM)Rs 10.88
EPS (latest quarter)Rs 2.82
EPS, 3-year averageRs 30.45
EPS, 5-year averageRs 29.02
Book value per shareRs 66.50
Sales per shareRs 48.35
Cash flow per shareRs 25.33
Free cash flow per shareRs 25.07
Efficiency
Asset turnover0.26x
Fixed asset turnover29.02x
Inventory turnover0.00x
Debtor days117 days
Debtors turnover3.13x
Cash conversion cycle117 days
Working capital days-542 days
Leverage
Total debtRs 228 Cr
Cash and bankRs 1,824 Cr
Net debtRs -1,597 Cr
Debt to equity0.28x
Net debt / EBITDA-6.49x
Interest coverage4.09x
Owners' fund to total sources36.40%
Debt to assets10.15%
Cash flow
Cash from Operating Activity (latest year)Rs 311 Cr
Cash from Investing Activity (latest year)Rs -325 Cr
Cash from Financing Activity (latest year)Rs 56 Cr
Net Cash Flow (latest year)Rs 43 Cr
Free cash flow (latest year)Rs 308 Cr
FCFE (approx.: FCF + change in debt)Rs 278 Cr
Cash from ops / profit, 5 years1.84x
Sales to cash flow1.85x
Statement figures
Net sales (TTM)Rs 594 Cr
Net sales (latest year)Rs 576 Cr
Sales (latest quarter)Rs 150 Cr
Operating profit excl. other income (latest year)Rs 236 Cr
Operating profit (latest quarter)Rs 62 Cr
EBITDA (TTM)Rs 246 Cr
PBDT (TTM)Rs 187 Cr
Profit before tax (TTM)Rs 183 Cr
Tax (latest year)Rs 46 Cr
Net profit (TTM)Rs 134 Cr
Net profit (latest year)Rs 126 Cr
Net profit (latest quarter)Rs 35 Cr
Depreciation (TTM)Rs 4 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 59 Cr
Cost of goods sold (latest year)Rs 0 Cr
Total expenditure (latest year)Rs 340 Cr
Total income (latest year)Rs 576 Cr
Share capitalRs 12 Cr
ReservesRs 805 Cr
Shareholders' fundsRs 817 Cr
Total assetsRs 2,244 Cr
Net blockRs 20 Cr
InvestmentsRs 33 Cr
ReceivablesRs 184 Cr
InventoryRs 9 Cr
Other liabilitiesRs 1,200 Cr
Shares outstanding (crore)12.29
Ownership
Promoter holding71.93% (+2.69 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 6.9 is at the 44th percentile of its own 9.4-year range (median 7.6, low 1.6, high 26.2).
P/B 1.12 is at the 58th percentile (median 0.92).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMASTERTRNifty 50Difference
1 week-4.2%-2.8% -1.4 pts
1 month+0.1%-6.8% +6.9 pts
3 months+7.1%-7.6% +14.7 pts
6 months+44.9%+0.4% +44.5 pts
1 year-40.9%-9.9% -31.0 pts
3 years+17.3%+14.2% +3.2 pts
5 years+345.5%+27.9% +317.6 pts

Red flags

F-score 4 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹150 Cr +13.6% vs Jun 2025. Net profit ₹35 Cr +29.6%.

Activity

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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-10-01ESOPGrant of 315100 Options.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-23General UpdatesParticipation in Arihant Bharat Connect Conference: Rising Stars 2026 Scheduled on 29th September 2026 at 01:00 P.M.
2026-09-05General UpdatesNewspaper Publication of Notice of 41st AGM of the Company
2026-09-04General UpdatesBook closure for 41st Annual General Meeting to be held on 30.09.2026
2026-09-04General UpdatesRemote e-voting details for the 41st Annual General Meeting of the Company to be held on 30.09.2026
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-03Board meeting outcomeOutcome of Board Meeting held on September 03, 2026.
2026-08-27Concall / analyst meetOutcome of Investors/Analyst Meeting
2026-08-21Concall / analyst meetSchedule of meet
2026-08-06General UpdatesGeneral Updates about Newspaper publication of un-audited financial results 30.06.2026
2026-08-05Press ReleaseA press release dated August 05, 2026, titled "Master Trust Reports Q1 FY27 Performance with 13.8% Growth in Total Income & 27.8% Surge in PAT".
2026-08-04General UpdatesGeneral Updates
2026-08-04General UpdatesGeneral Updates
2026-08-04Board meeting outcomeMaster Trust Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-01Reply to Clarification- FinaThe Exchange had sought clarification from Master Trust Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing O...
2026-05-22Clarification - Financial ReThe Exchange has sought clarification from Master Trust Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing O...
2026-05-16UpdatesINTIMATION OF GRANT OF STOCK OPTIONS UNDER MASTER TRUST LIMITED EMPLOYEE STOCK OPTION PLAN 2025.
2026-05-12UpdatesNon-applicability of Large Corporate Entities Framework.
2026-05-12General UpdatesGeneral Updates
2026-05-12General UpdatesGeneral Updates
2026-05-12General UpdatesGeneral Updates
2026-05-12Board meeting outcomeMaster Trust Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-07General UpdatesGeneral Updates
2026-04-17Disclosure under SEBI TakeovHarjeet Singh Arora has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substanti...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
High low price variation greater than 150perc in previous 12 months

Quick answers

What is the market cap of Master Trust Ltd?

Master Trust Ltd (MASTERTR) has a market capitalisation of Rs 1,021 Cr. at the 2026-10-01 close.

What is the P/E ratio of Master Trust Ltd?

Master Trust Ltd trades at a P/E of 7.64 on trailing twelve-month profit, at the 2026-10-01 close.

What were Master Trust Ltd's latest quarterly results?

In the Jun 2026 quarter, Master Trust Ltd sales was Rs 150 Cr (+13.6% vs Jun 2025) and net profit was Rs 35 Cr.

What is the 52-week high and low of Master Trust Ltd?

The 52-week high is Rs 164.50 and the 52-week low is Rs 55.60.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03