Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹17.42, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 26x in the Machinery industry in India. Negligible returns to shareholders over past three years. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹15.74, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 26x in the Machinery industry in India. Total loss to shareholders of 13% over the past three years. Reported Earnings • May 21
Full year 2026 earnings released: EPS: ₹1.63 (vs ₹8.78 loss in FY 2025) Full year 2026 results: EPS: ₹1.63 (up from ₹8.78 loss in FY 2025). Revenue: ₹888.5m (up 50% from FY 2025). Net income: ₹49.5m (up ₹316.5m from FY 2025). Profit margin: 5.6% (up from net loss in FY 2025). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • May 08
Manugraph India Limited to Report Q4, 2026 Results on May 19, 2026 Manugraph India Limited announced that they will report Q4, 2026 results on May 19, 2026 New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹332.7m market cap, or US$3.56m). Minor Risks Share price has been volatile over the past 3 months (8.0% average weekly change). Large one-off items impacting financial results. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Nimish Vakil was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹9.76, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 23x in the Machinery industry in India. Total loss to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹14.98, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 26x in the Machinery industry in India. Total loss to shareholders of 12% over the past three years. Buy Or Sell Opportunity • Feb 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to ₹15.61. The fair value is estimated to be ₹19.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹0.14 (vs ₹1.50 loss in 3Q 2025) Third quarter 2026 results: EPS: ₹0.14 (up from ₹1.50 loss in 3Q 2025). Revenue: ₹177.0m (up 176% from 3Q 2025). Net income: ₹4.36m (up ₹49.9m from 3Q 2025). Profit margin: 2.5% (up from net loss in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • Jan 30
Manugraph India Limited to Report Q3, 2026 Results on Feb 10, 2026 Manugraph India Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Reported Earnings • Nov 11
Second quarter 2026 earnings released: ₹0.36 loss per share (vs ₹5.99 loss in 2Q 2025) Second quarter 2026 results: ₹0.36 loss per share (improved from ₹5.99 loss in 2Q 2025). Revenue: ₹142.2m (up 15% from 2Q 2025). Net loss: ₹10.8m (loss narrowed 94% from 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Oct 31
Manugraph India Limited to Report Q2, 2026 Results on Nov 10, 2025 Manugraph India Limited announced that they will report Q2, 2026 results on Nov 10, 2025 Announcement • Sep 01
Manugraph India Limited, Annual General Meeting, Sep 24, 2025 Manugraph India Limited, Annual General Meeting, Sep 24, 2025, at 12:30 Indian Standard Time. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: ₹2.25 (vs ₹0.91 loss in 1Q 2025) First quarter 2026 results: EPS: ₹2.25 (up from ₹0.91 loss in 1Q 2025). Revenue: ₹317.5m (up 152% from 1Q 2025). Net income: ₹68.3m (up ₹96.0m from 1Q 2025). Profit margin: 22% (up from net loss in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jul 24
Manugraph India Limited to Report Q1, 2026 Results on Aug 07, 2025 Manugraph India Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Reported Earnings • May 31
Full year 2025 earnings released: ₹8.80 loss per share (vs ₹6.53 loss in FY 2024) Full year 2025 results: ₹8.80 loss per share (further deteriorated from ₹6.53 loss in FY 2024). Revenue: ₹600.8m (down 8.6% from FY 2024). Net loss: ₹266.9m (loss widened 34% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Announcement • May 19
Manugraph India Limited to Report Q4, 2025 Results on May 29, 2025 Manugraph India Limited announced that they will report Q4, 2025 results on May 29, 2025 New Risk • Mar 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹548.4m market cap, or US$6.35m). Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). Reported Earnings • Feb 12
Third quarter 2025 earnings released: ₹1.50 loss per share (vs ₹1.08 loss in 3Q 2024) Third quarter 2025 results: ₹1.50 loss per share (further deteriorated from ₹1.08 loss in 3Q 2024). Revenue: ₹67.1m (down 71% from 3Q 2024). Net loss: ₹45.5m (loss widened 38% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Feb 01
Manugraph India Limited to Report Q3, 2025 Results on Feb 11, 2025 Manugraph India Limited announced that they will report Q3, 2025 results on Feb 11, 2025 Buy Or Sell Opportunity • Jan 09
Now 22% overvalued Over the last 90 days, the stock has fallen 12% to ₹21.15. The fair value is estimated to be ₹17.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has declined by 15%. Announcement • Nov 01
Manugraph India Limited to Report Q2, 2025 Results on Nov 12, 2024 Manugraph India Limited announced that they will report Q2, 2025 results on Nov 12, 2024 Announcement • Sep 05
Manugraph India Limited, Annual General Meeting, Sep 27, 2024 Manugraph India Limited, Annual General Meeting, Sep 27, 2024, at 12:30 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings released: ₹0.91 loss per share (vs ₹1.72 loss in 1Q 2024) First quarter 2025 results: ₹0.91 loss per share (improved from ₹1.72 loss in 1Q 2024). Revenue: ₹127.5m (up 31% from 1Q 2024). Net loss: ₹27.7m (loss narrowed 47% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 31
Manugraph India Limited to Report Q1, 2025 Results on Aug 12, 2024 Manugraph India Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Announcement • May 12
Manugraph India Limited to Report Q4, 2024 Results on May 21, 2024 Manugraph India Limited announced that they will report Q4, 2024 results on May 21, 2024 Reported Earnings • Feb 13
Third quarter 2024 earnings released: ₹1.08 loss per share (vs ₹0.09 profit in 3Q 2023) Third quarter 2024 results: ₹1.08 loss per share (down from ₹0.09 profit in 3Q 2023). Revenue: ₹233.4m (up 79% from 3Q 2023). Net loss: ₹33.0m (down ₹35.1m from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 32% per year. Announcement • Feb 02
Manugraph India Limited to Report Q3, 2024 Results on Feb 12, 2024 Manugraph India Limited announced that they will report Q3, 2024 results on Feb 12, 2024 New Risk • Jan 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (₹930.7m market cap, or US$11.2m). Announcement • Oct 31
Manugraph India Limited to Report Q2, 2024 Results on Nov 09, 2023 Manugraph India Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Announcement • Sep 02
Manugraph India Limited, Annual General Meeting, Sep 27, 2023 Manugraph India Limited, Annual General Meeting, Sep 27, 2023, at 12:30 Indian Standard Time. Reported Earnings • Aug 12
First quarter 2024 earnings released: ₹1.72 loss per share (vs ₹1.78 loss in 1Q 2023) First quarter 2024 results: ₹1.72 loss per share (improved from ₹1.78 loss in 1Q 2023). Revenue: ₹99.5m (up 65% from 1Q 2023). Net loss: ₹52.3m (loss narrowed 3.5% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Announcement • Aug 01
Manugraph India Limited to Report Q1, 2024 Results on Aug 10, 2023 Manugraph India Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Board Change • Mar 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Additional Non-Executive Independent Woman Director Madhavi Kilachand was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Feb 26
Chairman & MD recently bought ₹83k worth of stock On the 22nd of February, Sanjay Shah bought around 5k shares on-market at roughly ₹16.55 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Sanjay's only on-market trade for the last 12 months. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹0.09 (vs ₹1.47 loss in 3Q 2022) Third quarter 2023 results: EPS: ₹0.09 (up from ₹1.47 loss in 3Q 2022). Revenue: ₹141.1m (up 9.1% from 3Q 2022). Net income: ₹2.10m (up ₹46.7m from 3Q 2022). Profit margin: 1.5% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jan 28
Manugraph India Limited to Report Q3, 2023 Results on Feb 07, 2023 Manugraph India Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Feb 07, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₹1.15 loss per share (vs ₹1.04 loss in 2Q 2022) Second quarter 2023 results: ₹1.15 loss per share (further deteriorated from ₹1.04 loss in 2Q 2022). Revenue: ₹257.9m (up 60% from 2Q 2022). Net loss: ₹35.0m (loss widened 9.7% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 13
Second quarter 2023 earnings released: ₹1.15 loss per share (vs ₹1.04 loss in 2Q 2022) Second quarter 2023 results: ₹1.15 loss per share (further deteriorated from ₹1.04 loss in 2Q 2022). Revenue: ₹257.9m (up 60% from 2Q 2022). Net loss: ₹35.0m (loss widened 9.7% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 11
First quarter 2023 earnings released: ₹1.78 loss per share (vs ₹1.30 loss in 1Q 2022) First quarter 2023 results: ₹1.78 loss per share (down from ₹1.30 loss in 1Q 2022). Revenue: ₹61.0m (up 37% from 1Q 2022). Net loss: ₹54.2m (loss widened 38% from 1Q 2022). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 30
Full year 2022 earnings released: ₹5.04 loss per share (vs ₹9.44 loss in FY 2021) Full year 2022 results: ₹5.04 loss per share (up from ₹9.44 loss in FY 2021). Revenue: ₹460.5m (up 55% from FY 2021). Net loss: ₹153.6m (loss narrowed 47% from FY 2021). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹1.47 loss per share (up from ₹1.86 loss in 3Q 2021). Revenue: ₹134.5m (up 118% from 3Q 2021). Net loss: ₹44.6m (loss narrowed 21% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 12
First quarter 2022 earnings released: ₹1.30 loss per share (vs ₹1.30 loss in 1Q 2021) The company reported a solid first quarter result with improved revenues and control over costs, although losses were not reduced. First quarter 2022 results: Revenue: ₹51.5m (up 37% from 1Q 2021). Net loss: ₹39.4m (flat on 1Q 2021). Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Chairman & MD Sanjay Shah was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 29
Full year 2021 earnings released The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: ₹330.3m (down 73% from FY 2020). Net loss: ₹286.8m (loss narrowed 17% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 24% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 10
New 90-day high: ₹15.05 The company is up 24% from its price of ₹12.10 on 10 December 2020. The Indian market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Machinery industry, which is up 25% over the same period. Reported Earnings • Feb 14
Third quarter 2021 earnings released: ₹1.86 loss per share (vs ₹2.08 loss in 3Q 2020) The company reported a soft third quarter result with weaker revenues and control over costs, although losses reduced. Third quarter 2021 results: Revenue: ₹61.8m (down 79% from 3Q 2020). Net loss: ₹56.6m (loss narrowed 11% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year whereas the company’s share price has fallen by 38% per year. Is New 90 Day High Low • Jan 05
New 90-day high: ₹14.35 The company is up 67% from its price of ₹8.60 on 07 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 24% over the same period. Is New 90 Day High Low • Dec 09
New 90-day high: ₹12.55 The company is up 27% from its price of ₹9.90 on 10 September 2020. The Indian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 17% over the same period.