Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹1880 Cr.
Stock P/E
50.7
P/B
7.7
Current Price
₹1067.1
Book Value
₹ 138
Face Value
10
52W High
₹1306
52W Low
₹ 628.9
Dividend Yield
—

Millworks Technolog. Overview

Business

Millworks Technologies Ltd. operates in the Engineering - Industrial Equipments sector in India. The company is primarily involved in the design, manufacturing, supply, and potentially installation and maintenance of various industrial equipment. Its core business model is B2B (business-to-business), serving other manufacturing, infrastructure, or process industries that require specialized machinery and capital goods. The company generates revenue through the sale of its engineered products, potentially supported by sales of spare parts, after-sales services, and project-based solutions.

Revenue Mix

Specific key segments and their revenue contributions for Millworks Technologies Ltd. are not available. In the industrial equipment sector, companies typically segment by product lines (e.g., heavy machinery, process equipment, specialized components), end-use industries (e.g., steel, cement, power, automotive), or geographical regions. Without further information, a detailed breakdown is not possible.

Industry

The Indian Engineering - Industrial Equipments industry is a critical component of the manufacturing and infrastructure sectors. It is characterized by significant capital investment, technological evolution, and often cyclical demand tied to the broader economic growth and industrial CAPEX cycles. The industry includes a mix of large diversified conglomerates, specialized niche players, and a competitive landscape with both domestic and international participants. Millworks' specific positioning (e.g., a leader in a particular niche, a cost-effective provider, a technology-driven innovator, or a regional player) cannot be determined without further details about its product portfolio and market share.

MOAT

Without specific information, potential competitive advantages for a company like Millworks could include:

Switching Costs: If its equipment is deeply integrated into client operations or requires specialized training, making it costly to switch suppliers.

Proprietary Technology/Expertise: Unique engineering designs, manufacturing processes, or patents for specialized equipment.

Brand Reputation & Reliability: A strong track record for quality, durability, and after-sales service is crucial in capital goods.

Scale & Cost Efficiency: Ability to achieve economies of scale in manufacturing and procurement, leading to competitive pricing.

Strong Distribution & Service Network: A robust network for sales, installation, and maintenance across diverse geographical locations.

The specific moats held by Millworks Technologies Ltd. are unknown.

Growth Drivers

Key factors that could drive growth for Millworks Technologies Ltd. over the next 3-5 years include:

"Make in India" Initiative: Government focus on boosting domestic manufacturing and reducing import dependence for industrial goods.

Infrastructure Development: Continued government and private sector investment in roads, railways, ports, energy, and other infrastructure projects.

Industrial CAPEX Cycle: Resurgence in capital expenditure across various end-user industries (e.g., automotive, cement, steel, chemicals) driving demand for new equipment and upgrades.

Technological Upgrades & Automation: Demand for more efficient, automated, and IoT-enabled industrial equipment to improve productivity and reduce costs.

Export Opportunities: Expanding into international markets for specialized equipment, leveraging cost-effective manufacturing in India.

Aftermarket Services: Growing demand for maintenance, repair, and overhaul (MRO) services, spare parts, and equipment modernization.

Risks

Millworks Technologies Ltd. faces several inherent risks:

Economic Cyclicality: Demand for industrial equipment is highly sensitive to economic downturns and fluctuations in industrial capital expenditure.

Raw Material Price Volatility: Exposure to price changes in key raw materials like steel, aluminum, and other metals, impacting production costs and margins.

Intense Competition: Competition from both domestic and international players, leading to pricing pressure and market share battles.

Technological Obsolescence: Risk of products becoming outdated due to rapid advancements in manufacturing technologies.

Project Execution & Delays: Risks associated with large project execution, including cost overruns, delays, and payment issues from clients.

Regulatory & Environmental Compliance: Adherence to evolving environmental, health, and safety regulations, which can entail significant compliance costs.

Supply Chain Disruptions: Vulnerability to disruptions in the global supply chain for critical components or raw materials.

Management & Ownership

As a company with a ticker (MILLWORKS), it is likely a publicly listed entity or a significant private company. In India, many listed companies are promoted by founding families or groups, often referred to as promoters, who hold a significant equity stake and exert strategic control. The quality of management would typically be assessed based on their industry experience, execution track record, corporate governance standards, and ability to navigate market cycles. Without specific names or history, commenting on the specific quality of Millworks' management is not possible. The ownership structure would likely involve a promoter group, institutional investors, and public shareholders.

Outlook

The outlook for Millworks Technologies Ltd. presents a balanced view. On the positive side, the company is well-positioned within an industry that stands to benefit from India's broad economic growth, continued infrastructure spending, and the "Make in India" manufacturing push. A strong focus on technological advancements, quality, and a robust service network could enable it to capture market share in specialized segments. However, the company faces inherent challenges including the cyclical nature of demand for capital goods, volatility in raw material prices, and intense competition. Its ability to manage working capital efficiently, execute projects on time, innovate effectively, and adapt to technological shifts will be crucial for sustained growth in this dynamic sector.

Millworks Technolog. Share Price

Live · BSE · Inception: 2021
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Millworks Technolog. Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Millworks Technolog. Profit & Loss

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 2 9 22 149
Other Income 0 0 0 5
Total Income 2 9 22 153
Total Expenditure 1 7 14 97
Operating Profit 0 3 8 57
Interest 0 0 1 3
Depreciation 0 0 0 3
Exceptional Income / Expenses 0 0 0 -0
Profit Before Tax 0 2 7 50
Provision for Tax 0 0 2 13
Profit After Tax 0 2 5 37
Adjustments 0 0 0 0
Profit After Adjustments 0 2 5 37
Adjusted Earnings Per Share 0.3 1.9 4.5 29

Millworks Technolog. Balance Sheet

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 0 2 23 83
Minority's Interest 0 0 0 0
Borrowings 0 1 6 8
Other Non-Current Liabilities 0 0 0 -2
Total Current Liabilities 3 8 10 107
Total Liabilities 4 11 40 196
Fixed Assets 0 2 13 25
Other Non-Current Assets 0 1 7 17
Total Current Assets 3 7 20 154
Total Assets 4 11 40 196

Millworks Technolog. Cash Flow

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 0 0 0 1
Cash Flow from Operating Activities -2 1 -3 -11
Cash Flow from Investing Activities -0 -3 -10 -16
Cash Flow from Financing Activities 2 2 13 27
Net Cash Inflow / Outflow 0 -0 1 0
Closing Cash & Cash Equivalent 0 0 1 1

Millworks Technolog. Ratios

# Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 0.33 1.94 4.47 29.02
CEPS(Rs) 0.35 2.05 4.74 31.33
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) 0.37 2.32 19.86 64.73
Core EBITDA Margin(%) 26.22 29.7 35.09 34.97
EBIT Margin(%) 25.55 28.69 35.12 36.05
Pre Tax Margin(%) 22.56 25.34 32.04 33.76
PAT Margin (%) 18.65 20.82 23.75 24.91
Cash Profit Margin (%) 19.73 21.93 25.16 26.9
ROA(%) 8.74 27.08 20.82 31.48
ROE(%) 88.01 144.42 40.94 69.94
ROCE(%) 16.92 56.25 38.97 80.87
Receivable days 141.64 49.98 71.75 178.48
Inventory Days 297.95 98.35 91.85 23.28
Payable days 1279.64 319.14 208.07 184.9
PER(x) 0 0 0 0
Price/Book(x) 0 0 0 0
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 1.28 0.49 0.35 0.19
EV/Core EBITDA(x) 4.82 1.64 0.96 0.5
Net Sales Growth(%) 0 429.09 135.46 573.15
EBIT Growth(%) 0 494.17 188.24 590.96
PAT Growth(%) 0 490.45 168.66 606.11
EPS Growth(%) 0 490.37 130.01 549.04
Debt/Equity(x) 6.12 1.96 0.41 0.21
Current Ratio(x) 1 0.96 1.99 1.43
Quick Ratio(x) 0.55 0.48 1.24 1.33
Interest Cover(x) 8.55 8.56 11.4 15.77
Total Debt/Mcap(x) 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +577% +321% — —
Operating Profit CAGR +613% — — —
PAT CAGR +640% — — —
Share Price CAGR — — — —
ROE Average +70% +85% +86% +86%
ROCE Average +81% +59% +48% +48%

Millworks Technolog. Shareholding Pattern

Latest · Jul 2026
100% held
Promoters 47.18 %
FII 2.55 %
DII (MF + Insurance) 5.06 %
Public (retail) 45.21 %
# Jun 2026 Jul 2026
Promoter 047.18
FII 02.55
DII 05.06
Public 045.21
Others 00
Total 100100

Millworks Technolog. Peer Comparison

Engineering - Industrial Equipments Edit Columns

Millworks Technolog. Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

See more…

Millworks Technolog. Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 85%
  • Debtor days have improved from 208.07 to 184.9days.
  • Company is almost debt free.

Cons

    0
  • Promoter holding is low: 47.18%.
  • Stock is trading at 7.7 times its book value.
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