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Mamata Machinery Ltd

MAMATA·NSE
423.35+4.91%Wed, 23 Sept '26

Mamata Machinery Ltd

MAMATA
NSE
423.35
+4.91%
|Wed, 23 Sept '26
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
1,041Cr
Close
Close Price
422.85
Industry
Industry
Engineering - General
PE
Price To Earnings
116.49
PS
Price To Sales
4.51
Revenue
Revenue
231Cr
Rev Gr TTM
Revenue Growth TTM
-13.28%
PAT Gr TTM
PAT Growth TTM
-79.30%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
4551882843731113953677436
Growth YoY
Revenue Growth YoY%
-5.242.825.740.024.7-8.5-33.6-6.2
Expenses
ExpensesCr
273963283861743647597041
Operating Profit
Operating ProfitCr
1813260513373794-5
OPM
OPM%
39.624.929.3-1.212.217.333.08.012.412.75.1-12.9
Other Income
Other IncomeCr
2212111212-22
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
1711111111111
PBT
PBTCr
2132605133746100-4
Tax
TaxCr
055014101220-1
PAT
PATCr
2821059273580-3
Growth YoY
PAT Growth YoY%
139.75.929.41,104.5-2.6-10.3-100.0-230.9
NPM
NPM%
4.316.123.70.810.911.924.46.88.511.70.0-9.6
EPS
EPS
5.830.38.50.11.93.611.01.11.83.20.0-1.4
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
4551882843731113953677436
Growth YoY
Revenue Growth YoY%
-5.242.825.740.024.7-8.5-33.6-6.2
Expenses
ExpensesCr
273963283861743647597041
Operating Profit
Operating ProfitCr
1813260513373794-5
OPM
OPM%
39.624.929.3-1.212.217.333.08.012.412.75.1-12.9
Other Income
Other IncomeCr
2212111212-22
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
1711111111111
PBT
PBTCr
2132605133746100-4
Tax
TaxCr
055014101220-1
PAT
PATCr
2821059273580-3
Growth YoY
PAT Growth YoY%
139.75.929.41,104.5-2.6-10.3-100.0-230.9
NPM
NPM%
4.316.123.70.810.911.924.46.88.511.70.0-9.6
EPS
EPS
5.830.38.50.11.93.611.01.11.83.20.0-1.4

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
114148192201237255233231
Growth
Revenue Growth%
30.129.54.517.87.6-8.5-13.3
Expenses
ExpensesCr
113124162177190200211216
Operating Profit
Operating ProfitCr
124302447552214
OPM
OPM%
1.116.415.611.819.721.49.56.2
Other Income
Other IncomeCr
40495533
Interest Expense
Interest ExpenseCr
21112111
Depreciation
DepreciationCr
23433345
PBT
PBTCr
120302946552012
Tax
TaxCr
0686111553
PAT
PATCr
11522233641159
Growth
PAT Growth%
1,332.447.23.758.314.4-63.1-79.3
NPM
NPM%
0.99.911.311.215.116.06.53.9
EPS
EPS
36.1495.98.18.414.416.66.13.6
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
114148192201237255233231
Growth
Revenue Growth%
30.129.54.517.87.6-8.5-13.3
Expenses
ExpensesCr
113124162177190200211216
Operating Profit
Operating ProfitCr
124302447552214
OPM
OPM%
1.116.415.611.819.721.49.56.2
Other Income
Other IncomeCr
40495533
Interest Expense
Interest ExpenseCr
21112111
Depreciation
DepreciationCr
23433345
PBT
PBTCr
120302946552012
Tax
TaxCr
0686111553
PAT
PATCr
11522233641159
Growth
PAT Growth%
1,332.447.23.758.314.4-63.1-79.3
NPM
NPM%
0.99.911.311.215.116.06.53.9
EPS
EPS
36.1495.98.18.414.416.66.13.6

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
333332525
Reserves
ReservesCr
3854101125129147160
Current Liabilities
Current LiabilitiesCr
7379107961018373
Non Current Liabilities
Non Current LiabilitiesCr
55645510
Total Liabilities
Total LiabilitiesCr
119142216228238259268
Current Assets
Current AssetsCr
8610110699122190155
Non Current Assets
Non Current AssetsCr
344111112911669112
Total Assets
Total AssetsCr
119142216228238259268
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
333332525
Reserves
ReservesCr
3854101125129147160
Current Liabilities
Current LiabilitiesCr
7379107961018373
Non Current Liabilities
Non Current LiabilitiesCr
55645510
Total Liabilities
Total LiabilitiesCr
119142216228238259268
Current Assets
Current AssetsCr
8610110699122190155
Non Current Assets
Non Current AssetsCr
344111112911669112
Total Assets
Total AssetsCr
119142216228238259268

Cash Flow

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
1222371740722
Investing Cash Flow
Investing Cash FlowCr
-50-35-100-11-45
Financing Cash Flow
Financing Cash FlowCr
-5-9-3-3-45-71
Net Cash Flow
Net Cash FlowCr
213-14-555-41
Free Cash Flow
Free Cash FlowCr
62236163970-4
CFO To PAT
CFO To PAT%
1,159.1151.6171.476.3112.9177.016.2
CFO To EBITDA
CFO To EBITDA%
921.091.6124.272.386.2132.211.0
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
1222371740722
Investing Cash Flow
Investing Cash FlowCr
-50-35-100-11-45
Financing Cash Flow
Financing Cash FlowCr
-5-9-3-3-45-71
Net Cash Flow
Net Cash FlowCr
213-14-555-41
Free Cash Flow
Free Cash FlowCr
62236163970-4
CFO To PAT
CFO To PAT%
1,159.1151.6171.476.3112.9177.016.2
CFO To EBITDA
CFO To EBITDA%
921.091.6124.272.386.2132.211.0

Ratios

Consolidated
Standalone
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
8907351,041
Price To Earnings
Price To Earnings
21.848.8116.5
Price To Sales
Price To Sales
3.53.24.5
Price To Book
Price To Book
5.24.05.6
EV To EBITDA
EV To EBITDA
15.232.568.9
Profitability Ratios
Profitability Ratios
GPM
GPM%
52.455.248.648.151.353.548.248.2
OPM
OPM%
1.116.415.611.819.721.49.56.2
NPM
NPM%
0.99.911.311.215.116.06.53.9
ROCE
ROCE%
5.430.824.220.033.031.810.610.6
ROE
ROE%
2.525.920.917.627.023.88.18.1
ROA
ROA%
0.910.410.09.815.015.75.65.6
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
8907351,041
Price To Earnings
Price To Earnings
21.848.8116.5
Price To Sales
Price To Sales
3.53.24.5
Price To Book
Price To Book
5.24.05.6
EV To EBITDA
EV To EBITDA
15.232.568.9
Profitability Ratios
Profitability Ratios
GPM
GPM%
52.455.248.648.151.353.548.248.2
OPM
OPM%
1.116.415.611.819.721.49.56.2
NPM
NPM%
0.99.911.311.215.116.06.53.9
ROCE
ROCE%
5.430.824.220.033.031.810.610.6
ROE
ROE%
2.525.920.917.627.023.88.18.1
ROA
ROA%
0.910.410.09.815.015.75.65.6
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Mamata Machinery is a global specialist in the machines that make flexible packaging - the bags, pouches and plastic films that wrap everything from snacks to shampoo. Founded in 1979 in Gujarat, it spent over three decades moving steadily upstream: first building bag-making machines, then adding the extrusion lines that produce the plastic film itself, and most recently launching its own packaging machines that fill and seal the finished packs for brand owners. The recurring approach is to offer the full toolkit under one roof - film lines, converting machines and packaging systems - so a customer can source an entire production line from a single company that writes its own software and holds the patents on key components. # Business segments Three engines that feed each other - the original bag-and-pouch machine business that built the global footprint, the upstream film-extrusion lines that supply it, and the fast-growing packaging-machine platform now being cross-sold into the same 80-country network. ## 1. Converting machinery: the bag-and-pouch engine that built the company **India’s number-one maker of bag- and pouch-making machines, and among the top five globally, with machines running in more than 80 countries - this is the export-heavy core that funds everything else.** - **First-mover in every generation** - it introduced India’s first microprocessor-controlled bag-making line in 1989, began exporting to the European Union in 1998, and in 2026 launched breakthrough recyclable packaging technology 'RecTech™' at Plastindia 2026. - **Sells to the suppliers of FMCG giants** - the customers are converters, the tier-1 firms that print, laminate and seal film into finished bags and pouches for brand owners; marquee names include Dass Polymers, Multi Flex and Luuka Plastics. - **The range covers every bag format that matters** - side-seal, bottom-seal, stand-up zipper pouches, in-line spout pouches, flat-bottom pouches and wicketed bags, marketed under the ‘Vega’ and ‘Win’ brands. - **Built a global footprint early** - exports of bag-making machines began in 1992, and it remains the only Indian player to offer converting machines in both the EU and the US, giving it a distribution network that the newer packaging business now rides on. - **Resilient outside the US** - when US sales were hit by tariff disruption in FY26, domestic converting sales still grew over 6% and rest-of-world sales grew 23%, showing the geographic spread is real. ## 2. Co-extrusion systems: the upstream film lines that feed the converters **Multi-layer blown-film plants that make the plastic film which the company’s own converting machines then turn into bags - a lumpy but strategic business that locks customers into the ecosystem.** - **Born from a Canadian joint venture** - Mamata entered extrusion technology in 1997 through a 50:50 partnership with Brampton Engineering, and acquired full ownership plus the technology in 2013, so the know-how is now entirely in-house. - **From three layers to nine** - the range spans mono- and 3-layer lines up to 5-, 7- and 9-layer systems, with the advanced 9-layer RecTech line capable of producing fully recyclable mono-material films that meet the latest sustainability demands. - **Orders are large and lumpy by nature** - a single 9-layer plant order can be worth roughly ₹7.2 crore or about USD 1.17 million, and the company secured three consecutive 9-layer orders in 2025 alone, from domestic and Middle Eastern customers. - **Sells to the same converter base** - the buyers are again tier-1 suppliers to FMCG and the plastics industry, meaning every extrusion line sold creates a natural pull for the company’s downstream converting machines. ## 3. Packaging machinery: the growth platform being cross-sold to brand owners **A fast-scaling range of form-fill-seal machines that automate the filling and sealing of pouches and sachets directly at the brand owner’s factory - the youngest engine, now growing domestically at over 50%.** - **Patented speed** - the vertical form-fill-seal (VFFS) machine runs at up to 200 cycles per minute, and the horizontal HFFS Simplex delivers over 120 cycles per minute, which the company claims is a world first at that speed; a proprietary cross-sealing device is patented in the EU. - **Developed in America, built in India** - the first HFFS prototype was created at the US subsidiary in 2013, but manufacturing moved to the Ahmedabad plant in 2018, combining American product development with Indian cost-base manufacturing. - **Winning Indian FMCG brands** - one of India’s leading snack and namkeen brands placed a multi-machine order for VFFS lines; four were delivered in FY26 and 18 more are scheduled for the first half of FY27, driving domestic packaging sales up 55% in the year. - **Now going international** - the company secured its first rest-of-world packaging order from a South African customer in February 2026, and it is using its existing bag-making presence in roughly 80 countries to cross-sell packaging machines into the same geographies. - **The range covers every fill format** - HFFS pouch machines, VFFS machines, multi-lane sachet machines with up to six lanes and 100 cycles per minute, and pick-fill-seal systems, sold directly to brand owners such as ITC, P&G, Hershey and Balaji. # Manufacturing and R&D backbone **An asset-light, build-to-order factory in Ahmedabad that designs and assembles everything in-house - including its own software - while outsourcing fabrication to over 250 local vendors.** - **In-house brains, outsourced metal** - design, engineering, software coding, assembly, testing and electronics integration are kept inside; fabrication, machining and sheet-metal work go to a curated network of more than 250 vendors, keeping the balance sheet light. - **The only Indian flexible packaging machinery player with a dedicated in-house software & coding and electronics lab** - a dedicated in-house software and coding team of three, plus an electronics lab, eliminates the lag that comes from depending on third-party controls suppliers and lets the company tune machine behaviour to specific films and formats. - **91 engineers with deep domain tenure** - the R&D team averages over 15 years of experience, uses 3D design tools (Inventor and AutoCAD), and has delivered five granted patents with three more pending. - **Industry-leading warranty as a signal of quality** - an 18-month comprehensive warranty, roughly twice the typical 9-to-12-month split warranty, yet warranty costs run consistently below 0.5% of standalone sales. - **Capacity to scale without building a new factory** - the 20,662 sqm site with 9,235 sqm of built-up area can produce over 250 machines a year and still has room to expand within the existing footprint. # Group structure and partners **A Gujarat-headquartered parent with a wholly-owned US subsidiary for North American sales and service, a newly approved Russian/CIS branch office, and a partner in Germany - all supported by a direct sales force and agent network spanning five continents.** - **Mamata Enterprises, Inc. - the American arm** - incorporated in 2003, this 100% subsidiary runs after-sales service and product applications from offices in Florida and Illinois with roughly 17-18 employees, and was the birthplace of the wicketer system and the first HFFS prototype. - **The Canadian JV that became wholly owned** - the 1997 joint venture with Brampton Engineering gave Mamata its entry into extrusion; full ownership and a technology transfer were secured in 2013, and no associate or JV entities remained on the books by FY25. - **European push through a German partner** - Carpentier GmbH, a 40-year-old German firm with similar business lines, has been identified as the partner to enter the German and broader European markets. - **Global reach without a global factory footprint** - sales are handled by a direct sales force and an agent network across Africa, the Middle East, Europe, Asia and South-Central America, with newly established channel partners in South East Asia targeting close to USD 1 million in initial business.

Documents — Mamata Machinery Ltd

  • Q4 FY2026 Earnings Call Transcript (Mar 2026, PDF): https://www.stockscans.in/document/ipzrs1bqszmkuo4yj7zyqzvc.pdf
  • Q2 FY2026 Earnings Call Transcript (Sep 2025, PDF): https://www.stockscans.in/document/ttrj26sw0r60rhnz9sl2g3mj.pdf
  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/vnl9fv7rh0saxmohusxi6fue.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/y41wzqizr4fp9q0cl0q4vnrk.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/n704noi1wf80qqxokwmsxob1.pdf
  • Q3 FY2026 Quarterly Result (Dec 2025, PDF): https://www.stockscans.in/document/ftnkm3igki4now479ufkeunr.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/vei57oq7r56tjiw9uhgvkv2c.pdf
  • Q1 FY2026 Quarterly Result (Jun 2025, PDF): https://www.stockscans.in/document/lo4pa4nml6s3zrr4hwxfky55.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/dx7tq29iueo02w4974uf4fhc.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/mu4wbn5zxxnzglpsy7acloft.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/xgizfjfobce5onbvw1bn9kuh.pdf
  • Q4 FY2026 Investor Presentation (Mar 2026, PDF): https://www.stockscans.in/document/ie95p3f3b4ctvcu4lzesjkww.pdf
  • Q3 FY2026 Investor Presentation (Dec 2025, PDF): https://www.stockscans.in/document/a9e106s8uquycteep180bpo0.pdf
  • Q2 FY2026 Investor Presentation (Sep 2025, PDF): https://www.stockscans.in/document/z3g98jmnox94qvbbd0a7uzct.pdf
  • Q1 FY2026 Investor Presentation (Jun 2025, PDF): https://www.stockscans.in/document/pkkrasy72ou299svmrx28xef.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/c2mvc7mch7rdai0jbfwy7jka.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/qw1pm17hdsmb80kh5wpyib0c.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/balh2skfnrqk0pq4yod0yjbj.pdf

Concall Transcript Summaries — Mamata Machinery Ltd

  • Q4 FY2026 Concall Transcript Summary (Mar 2026): https://www.stockscans.in/company/NSE%3AMAMATA/transcript-notes/202603/ipzrs1bqszmkuo4yj7zyqzvc.pdf
  • Q2 FY2026 Concall Transcript Summary (Sep 2025): https://www.stockscans.in/company/NSE%3AMAMATA/transcript-notes/202509/ttrj26sw0r60rhnz9sl2g3mj.pdf
  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3AMAMATA/transcript-notes/202503/vnl9fv7rh0saxmohusxi6fue.pdf