MarketFriction

Modison Ltd

NSE MODISONLTD · BSE 506261 · Other Electrical Equipment
₹486.05 +4.99%
NSE close2026-10-01
52 week range114.00 - 546.00
Market cap₹1,452 Cr.
P/E13.5
ASM long-term Price band 5%

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
Sales97108114116122121130134145144287270
Expenses9099104108112110115126127125216220
Operating Profit7998101115918197150
OPM %8%8%8%7%8%9%12%6%13%13%25%19%
Other Income2-02-44022113-182
Interest111121222234
Depreciation122222222232
Profit before tax869211813616274846
Tax %26%27%28%32%25%26%27%25%26%26%25%26%
Net Profit64618610512203634
EPS in Rs1.731.261.900.352.521.792.941.483.596.1811.0910.43
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales171168191201219292340335405490710847
Expenses155142159174192252309310372445592688
Operating Profit17263127274030253245118159
OPM %10%16%16%14%12%14%9%7%8%9%17%19%
Other Income01040-2-2-162-3-2
Interest4432222236911
Depreciation76666676681010
Profit before tax717222419302015293497136
Tax %31%37%35%30%20%25%26%27%27%26%25%
Net Profit511141615221511212573102
EPS in Rs1.423.354.395.054.666.924.513.456.587.6122.3531.29
Dividend Payout %53%30%23%30%21%22%22%29%38%46%25%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth16%19%29%67%
Compounded Profit Growth22%26%83%295%
Stock Price CAGR26%44%80%176%
Return on Equity%15%19%32%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital33333333333
Reserves94101111124144161173184200213271
Borrowings2721181326121753273174
Other Liabilities2319192218262129363054
Total Liabilities148145152162191203214222271319503
Fixed Assets5761606058627069799294
CWIP2111333101043
Investments00002222200
Other Assets898391102128135140141181224405
Total Assets148145152162191203214222271319503
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1326121919241422-4-16-64
Cash from Investing Activity-6-11-3-8-15-4-11-13-15-9-15
Cash from Financing Activity-6-15-9-10-3-211-14192480
Net Cash Flow0-0-001-14-40-00
Free Cash Flow617911518310-20-32-79
CFO/OP93%121%66%91%94%77%69%110%12%-18%-36%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days6563757675756258606482
Inventory Days13013212012414610490109109121152
Days Payable11151116111091311911
Cash Conversion Cycle184180184184209168143154158176223
Working Capital Days8190104119126119105117979291
ROCE %17%20%17%20%14%10%12%15%31%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.11%52.16%52.23%
FIIs0.00%0.00%0.41%0.48%0.53%0.48%0.55%0.48%0.48%0.48%0.48%0.92%
DIIs0.25%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public47.64%47.88%47.47%47.40%47.35%47.39%47.33%47.40%47.40%47.42%47.35%46.84%
No. of Shareholders14,63918,20519,04018,38021,67021,83621,26721,11521,55321,54921,07921,401

Fundamentals

Market Cap₹ 1,452 Cr.
Current Price₹ 448
Stock P/E13.5
Book Value₹ 84.6
ROCE31.0 %
ROE32.0 %
Dividend Yield1.23 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)67%
Compounded Profit Growth (TTM)295%
Consolidated figures.
Valuation
Market capRs 1,577 Cr
Enterprise valueRs 1,750 Cr
P/E (TTM)15.53x
Price to book5.74x
Price to sales1.86x
EV / EBITDA11.15x
EV / EBIT11.88x
EV / sales2.07x
Earnings yield6.44%
Dividend yield1.13%
P/E, 3-year average13.00x
P/B, 3-year average1.69x
P/E, 5-year average13.84x
P/B, 5-year average1.44x
Profitability
Operating margin (excl. other income)16.66%
Operating margin (incl. other income)16.30%
EBITDA margin18.54%
Pre-tax margin16.11%
Net profit margin12.00%
Net margin, latest quarter12.51%
ROE29.53%
ROCE28.73%
ROA17.65%
ROE, 3-year average17.41%
ROCE, 3-year average19.60%
ROA, 3-year average11.56%
ROE, 5-year average13.40%
ROCE, 5-year average15.92%
ROA, 5-year average9.37%
ROIC (approx.)24.62%
Tax rate25.19%
Other income / net worth-0.95%
Growth
Sales growth (latest year)44.89%
Profit growth (latest year)193.92%
Sales CAGR, 3 years28.51%
Sales CAGR, 5 years19.45%
Profit CAGR, 3 years86.51%
Profit CAGR, 5 years26.45%
Sales growth QoQ-5.86%
Profit growth QoQ-6.00%
Sales growth YoY (latest quarter)101.63%
Profit growth YoY (latest quarter)603.53%
Per share
EPS (TTM)Rs 31.30
EPS (latest year)Rs 22.35
EPS (latest quarter)Rs 10.43
EPS, 3-year averageRs 12.18
EPS, 5-year averageRs 8.90
Book value per shareRs 84.64
Sales per shareRs 260.91
Cash flow per shareRs -19.78
Free cash flow per shareRs -24.35
Dividend per share (latest year)Rs 5.51
Dividend per share, 3-year averageRs 3.84
Dividend per share, 5-year averageRs 2.70
Dividends
Dividend payout24.65%
Dividend payout, 3-year average36.26%
Dividend payout, 5-year average32.01%
Efficiency
Asset turnover1.41x
Fixed asset turnover7.52x
Inventory turnover2.52x
Inventory days145 days
Debtor days82 days
Debtors turnover4.44x
Creditor days11 days
Cash conversion cycle223 days
Working capital days91 days
Leverage
Total debtRs 174 Cr
Cash and bankRs 1 Cr
Net debtRs 173 Cr
Debt to equity0.64x
Net debt / EBITDA1.10x
Interest coverage13.45x
Current ratio (filing 2026-03-31)1.81x
Quick ratio (filing 2026-03-31)0.81x
Trade payables (filing 2026-03-31)Rs 16 Cr
Owners' fund to total sources54.63%
Debt to assets34.70%
Cash flow
Cash from Operating Activity (latest year)Rs -64 Cr
Cash from Investing Activity (latest year)Rs -15 Cr
Cash from Financing Activity (latest year)Rs 80 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -79 Cr
FCFE (approx.: FCF + change in debt)Rs 23 Cr
Cash from ops / profit, 5 years-0.33x
Statement figures
Net sales (TTM)Rs 847 Cr
Net sales (latest year)Rs 710 Cr
Sales (latest quarter)Rs 270 Cr
Operating profit excl. other income (latest year)Rs 118 Cr
Operating profit (latest quarter)Rs 50 Cr
Other income (TTM)Rs -2 Cr
EBITDA (TTM)Rs 157 Cr
PBDT (TTM)Rs 146 Cr
Profit before tax (TTM)Rs 136 Cr
Tax (latest year)Rs 24 Cr
Net profit (TTM)Rs 102 Cr
Net profit (latest year)Rs 73 Cr
Net profit (latest quarter)Rs 34 Cr
Depreciation (TTM)Rs 10 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 11 Cr
Cost of goods sold (latest year)Rs 554 Cr
Total expenditure (latest year)Rs 592 Cr
Total income (latest year)Rs 708 Cr
Share capitalRs 3 Cr
ReservesRs 271 Cr
Shareholders' fundsRs 275 Cr
Total assetsRs 503 Cr
Net blockRs 94 Cr
Capital work in progressRs 3 Cr
ReceivablesRs 160 Cr
InventoryRs 220 Cr
Other liabilitiesRs 54 Cr
Shares outstanding (crore)3.25
Ownership
Promoter holding52.23% (+0.12 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 15.5 is at the 63th percentile of its own 10.1-year range (median 13.7, low 4.9, high 46.1).
P/B 5.74 is at the 99th percentile (median 1.56).
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.
PeriodMODISONLTDNifty 50Difference
1 week+6.3%-2.8% +9.1 pts
1 month-2.7%-6.8% +4.1 pts
3 months+62.1%-7.6% +69.7 pts
6 months+319.6%+0.4% +319.2 pts
1 year+196.0%-9.9% +205.9 pts
2 years+141.6%-13.6% +155.2 pts
3 years+528.8%+14.2% +514.6 pts
5 years+585.1%+27.9% +557.2 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -71% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 27% of total assets in 2026
explainReceivables outrunning sales Receivables grew 86% vs sales +45% in 2026
lookAuditor change Auditor change 2026-05-22: MODISON LIMITED has informed the Exchange regarding Change in Auditors of the company.
lookRegulator order or action Regulator order or action 2025-11-21: MODISON LIMITED has informed the Exchange about Order passed by Custom department
lookOn NSE surveillance On NSE surveillance: ASM long-term
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 ₹270 Cr +101.5% vs Jun 2025. Net profit ₹34 Cr +580.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-14Dividend - Rs 3 Per Share
2025-12-08Interim Dividend - Rs 2.50 Per Share
2025-09-02Dividend - Rs 2 Per Share
2025-02-21Interim Dividend - Rs 1.50 Per Share
2024-07-23Dividend - Rs 2 Per Share
2024-07-23Annual General Meeting
2024-02-23Interim Dividend - Rs 0.50 Per Share
2023-07-17Annual General Meeting/Dividend - Re 1 Per Share
2022-06-28Annual General Meeting
2022-02-23Interim Dividend - Re 1 Per Share
2021-07-26 Annual General Meeting
DateTypeWhat it says
2026-10-01ResignationResignation of Ms. Pooja Birendra Sinha as Company Secretary & Compliance Officer of the company w.e.f. October 01, 2026.
2026-09-21General Updates- Sale/Disposal of Wholly Owned Subsidiary with effect from Monday, September 21, 2026
2026-09-04Price movementSignificant movement in price has been observed in MODISON LIMITED. The Exchange, in order to ensure that investors have latest relevant information a...
2026-09-04Price movementSignificant movement in price has been observed in MODISON LIMITED. The Exchange, in order to ensure that investors have latest relevant information a...
2026-09-03Price movementSignificant movement in price has been observed in MODISON LIMITED. The Exchange, in order to ensure that investors have latest relevant information a...
2026-08-13Board meeting outcomeMODISON LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-22Shareholder meetingVoting results.
2026-07-21Shareholder meetingProceedings of Annual General Meeting held on July 21, 2026
2026-07-08UpdatesShareholders Communication- Tax deduction on Dividend, if declared and payable during financial year 2026-27.
2026-07-03Reply to Clarification- FinaThe Exchange had sought clarification from MODISON LIMITED for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obliga...
2026-07-03UpdatesShareholders Communication-Weblink of Annual Report.
2026-06-29UpdatesAnnual Report for FY 2025-26.
2026-06-29Shareholder meetingNotice of Annual General Meeting to be held on July 21, 2026
2026-06-25Record DateRecord date for the purpose of Dividend is 14-Jul-2026.
2026-06-25General UpdatesConvening the 43rd Annual General Meeting (AGM).
2026-06-18Clarification - Financial ReThe Exchange has sought clarification from MODISON LIMITED for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obliga...
2026-06-01Concall / analyst meetSchedule of meet
2026-05-30Concall / analyst meetSchedule of meet
2026-05-22UpdatesRecommendation of Final Dividend for FY 2025-26 by Board of Directors.
2026-05-22Change in AuditorsChange in Auditors of the company.
2026-05-22Board meeting outcomeMODISON LIMITED has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-10Disclosure under SEBI TakeovGirdhari Lal Modi has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial...
2026-02-24UpdatesRestoration of Operations at Vapi Plant.
2026-02-07Disruption of OperationsDisruption of Operations
2026-02-02Board meeting outcomeBoard meeting held on February 02, 2026 for approval of Financial Results for quarter and nine months ended December 31, 2025 and appointment of Inter...
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.
Long Term Additional Surveillance Measure (Long Term ASM): stage 4
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03