Reported Earnings • Jun 05
Full year 2026 earnings released: ₹0.03 loss per share (vs ₹0.079 profit in FY 2025) Full year 2026 results: ₹0.03 loss per share (down from ₹0.079 profit in FY 2025). Revenue: ₹451.3m (down 12% from FY 2025). Net loss: ₹1.03m (down 107% from profit in FY 2025). Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 01
Minal Industries Limited to Report Q4, 2026 Results on Jun 04, 2026 Minal Industries Limited announced that they will report Q4, 2026 results on Jun 04, 2026 Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹2.47, the stock trades at a trailing P/E ratio of 46.4x. Average trailing P/E is 17x in the Luxury industry in India. Total loss to shareholders of 34% over the past year. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹1.85, the stock trades at a trailing P/E ratio of 34.8x. Average trailing P/E is 16x in the Luxury industry in India. Total loss to shareholders of 44% over the past year. New Risk • Mar 21
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹468m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹418.3m market cap, or US$4.46m). Minor Risk Revenue is less than US$5m (₹468m revenue, or US$5.0m). Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹2.43, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 18x in the Luxury industry in India. Total loss to shareholders of 39% over the past year. Reported Earnings • Feb 18
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: ₹87.1m (down 1.8% from 3Q 2025). Net loss: ₹5.76m (loss narrowed 22% from 3Q 2025). Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹3.22, the stock trades at a trailing P/E ratio of 41.5x. Average trailing P/E is 19x in the Luxury industry in India. Total loss to shareholders of 23% over the past year. New Risk • Dec 08
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 7.1% 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 (₹596.8m market cap, or US$6.63m). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Reported Earnings • Nov 16
Second quarter 2026 earnings released Second quarter 2026 results: ₹0.04 loss per share. Revenue: ₹94.8m (down 12% from 2Q 2025). Net loss: ₹4.12m (loss widened 83% from 2Q 2025). Announcement • Aug 28
Minal Industries Limited, Annual General Meeting, Sep 26, 2025 Minal Industries Limited, Annual General Meeting, Sep 26, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹0.04 (vs ₹0.02 in 1Q 2025) First quarter 2026 results: EPS: ₹0.04 (up from ₹0.02 in 1Q 2025). Revenue: ₹102.2m (down 17% from 1Q 2025). Net income: ₹5.28m (up 44% from 1Q 2025). Profit margin: 5.2% (up from 3.0% in 1Q 2025). The increase in margin was driven by lower expenses. Announcement • Aug 09
Minal Industries Limited to Report Q1, 2026 Results on Aug 13, 2025 Minal Industries Limited announced that they will report Q1, 2026 results on Aug 13, 2025 Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹3.88, the stock trades at a trailing P/E ratio of 49.2x. Average trailing P/E is 25x in the Luxury industry in India. Total loss to shareholders of 28% over the past year. New Risk • Aug 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹869.3m (US$9.90m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹869.3m market cap, or US$9.90m). Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹4.68, the stock trades at a trailing P/E ratio of 59.3x. Average trailing P/E is 27x in the Luxury industry in India. Total loss to shareholders of 1.9% over the past year. Reported Earnings • Jun 01
Full year 2025 earnings released: EPS: ₹0.22 (vs ₹0.15 loss in FY 2024) Full year 2025 results: EPS: ₹0.22 (up from ₹0.15 loss in FY 2024). Revenue: ₹521.6m (up 38% from FY 2024). Net income: ₹15.1m (up ₹43.4m from FY 2024). Profit margin: 2.9% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Announcement • May 27
Minal Industries Limited to Report Q4, 2025 Results on May 30, 2025 Minal Industries Limited announced that they will report Q4, 2025 results on May 30, 2025 New Risk • Mar 04
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 8.1% 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 (₹713.9m market cap, or US$8.19m). Minor Risk Share price has been volatile over the past 3 months (8.1% average weekly change). Announcement • Mar 04
Minal Industries Limited Announces the Resignation of Sona Akash Parikh as Non-Executive - Non-Independent Director and Ceases as Member of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee Minal Industries Limited announced that Mrs. Sona Akash Parikh (DIN: 03283751), has tendered her resignation as the Non-Executive - Non-Independent Director of the Company, with effect from the close of business hours on March 3, 2025, for reasons as mentioned in the resignation letter. Consequently, she shall also cease to be a Member of the Audit Committee, Nomination and remuneration committee and Stakeholders
Relationship Committee of the Company. Reported Earnings • Feb 15
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₹97.5m (down 34% from 3Q 2024). Net loss: ₹7.39m (down 125% from profit in 3Q 2024). Announcement • Feb 10
Minal Industries Limited to Report Q3, 2025 Results on Feb 14, 2025 Minal Industries Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Reported Earnings • Dec 19
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: ₹110.1m (up 132% from 2Q 2024). Net loss: ₹2.26m (loss narrowed 89% from 2Q 2024). Announcement • Nov 09
Minal Industries Limited to Report Q2, 2025 Results on Nov 14, 2024 Minal Industries Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Board Change • Sep 10
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Subham Jain was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 02
Minal Industries Limited, Annual General Meeting, Sep 30, 2024 Minal Industries Limited, Annual General Meeting, Sep 30, 2024. Announcement • Aug 09
Minal Industries Limited to Report Q1, 2025 Results on Aug 14, 2024 Minal Industries Limited announced that they will report Q1, 2025 results on Aug 14, 2024 Reported Earnings • Jul 21
Full year 2024 earnings released: ₹0.11 loss per share (vs ₹0.016 profit in FY 2023) Full year 2024 results: ₹0.11 loss per share (down from ₹0.016 profit in FY 2023). Revenue: ₹401.8m (up 50% from FY 2023). Net loss: ₹28.3m (down ₹31.4m from profit in FY 2023). New Risk • May 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹829.0m (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹829.0m market cap, or US$9.95m). Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Revenue is less than US$5m (₹370m revenue, or US$4.4m). Announcement • May 24
Minal Industries Limited to Report Q4, 2024 Results on May 30, 2024 Minal Industries Limited announced that they will report Q4, 2024 results on May 30, 2024 New Risk • Feb 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.5% Last year net profit margin: 22% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (0.5% net profit margin). Revenue is less than US$5m (₹369m revenue, or US$4.4m). Market cap is less than US$100m (₹928.8m market cap, or US$11.2m). Reported Earnings • Feb 17
Third quarter 2024 earnings released Third quarter 2024 results: EPS: ₹0.31. Revenue: ₹135.0m (up 112% from 3Q 2023). Net income: ₹29.4m (up 3.3% from 3Q 2023). Profit margin: 22% (down from 45% in 3Q 2023). The decrease in margin was driven by higher expenses. Announcement • Jan 26
Minal Industries Limited to Report Nine Months, 2024 Results on Feb 02, 2024 Minal Industries Limited announced that they will report nine months, 2024 results on Feb 02, 2024 Recent Insider Transactions • Dec 07
MD, CEO & Chairman recently sold ₹698k worth of stock On the 5th of December, Shrikant Parikh sold around 115k shares on-market at roughly ₹6.05 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Shrikant's only on-market trade for the last 12 months. Reported Earnings • Nov 18
Second quarter 2024 earnings released Second quarter 2024 results: ₹0.22 loss per share. Revenue: ₹49.5m (down 6.1% from 2Q 2023). Net loss: ₹20.7m (loss widened 12% from 2Q 2023). Announcement • Oct 26
Minal Industries Limited, Annual General Meeting, Nov 15, 2023 Minal Industries Limited, Annual General Meeting, Nov 15, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023, together with the Reports of the Board of Directors and Auditors thereon; to receive, consider and adopt the Audited Consolidated Financial Statements of the Company and its subsidiaries for the financial year ended March 31, 2023, together with the Report of the Auditors thereon; and to consider any other matter thereof. Announcement • Sep 04
Minal Industries Limited, Annual General Meeting, Sep 30, 2023 Minal Industries Limited, Annual General Meeting, Sep 30, 2023, at 17:00 Indian Standard Time. Agenda: To consider the Notice of 35 AGM along with Director’s & Annual Report for the Financial Year 2022 - 2023; to consider Dates of closure of the Share Transfer Books and Register of Members as per Regulation 42 of the SEBI (LODR) Regulations, 2015 from Sunday the 24 September 2023 to Saturday the 30 September 2023 for the purpose of 35 AGM to be held on Saturday the September 30, 2023; to consider Venue, Day, Date & time of the 35 AGM to be held on Thursday the September 30, 2023; and to consider Fixation of Cut-off date to record the entitlement of the Shareholders to cast their votes at the ensuing 35' AGM. Reported Earnings • Aug 16
First quarter 2024 earnings released First quarter 2024 results: ₹0.08 loss per share. Revenue: ₹72.4m (up 110% from 1Q 2023). Net loss: ₹8.42m (loss narrowed 19% from 1Q 2023). Announcement • Aug 09
Minal Industries Limited to Report Q1, 2024 Results on Aug 14, 2023 Minal Industries Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Board Change • Jun 12
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. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. 
