Engineering - Industrial Equipments · Founded 1993 · www.matherplattfiresystems.com · BSE 532470 · · ISIN INE095E01022
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Business
MPF Systems Ltd. operates in the Engineering - Industrial Equipments sector in India. The company is primarily involved in the manufacturing, supply, and potentially installation and maintenance of industrial equipment and systems. Its core business model likely revolves around providing specialized machinery, components, or complete solutions required by various industries for their production, processing, or infrastructure needs. MPFSL makes money through direct sales of its manufactured equipment, potentially sales of spare parts and consumables, and revenue from services such as installation, commissioning, and after-sales support contracts.
Revenue Mix
Specific breakdown of major business segments and their contribution to revenue is not publicly available based on the provided information. Companies in the industrial equipment sector often segment their offerings by product type (e.g., heavy machinery, processing equipment, precision components), end-user industry (e.g., manufacturing, infrastructure, energy), or by project-based versus standard product sales.
Industry
The Indian industrial equipment sector is a critical component of the country's manufacturing and infrastructure growth. It is characterized by a mix of large integrated players, specialized medium-sized companies, and smaller niche manufacturers. The industry is cyclical, tied to capital expenditure trends across various industries. MPFSL operates within this competitive landscape, likely focusing on specific niches or product categories where it has expertise. Its positioning relative to peers would depend on its product specialization, technological capabilities, customer base, geographic reach, and pricing strategy. Competition comes from both domestic players and international firms with advanced technologies.
MOAT
Without specific details about MPFSL's operations, it's challenging to pinpoint durable competitive advantages. Potential moats in the industrial equipment sector include:
Specialized Engineering Expertise: Proprietary designs, advanced manufacturing processes, or unique technological solutions.
Strong Client Relationships: Long-standing partnerships with key industrial clients, leading to repeat business.
Cost Efficiency: Ability to manufacture high-quality equipment at a competitive cost.
After-Sales Service Network: A robust and responsive service and spare parts network can create high switching costs for customers.
Brand Reputation: A reputation for reliability, quality, and performance in specific product categories.
Growth Drivers
Key factors that can drive MPFSL's growth over the next 3-5 years include:
Government Initiatives: "Make in India" program, Production Linked Incentive (PLI) schemes, and infrastructure spending drive demand for domestic industrial equipment.
Manufacturing Sector Growth: Expansion and modernization across various industries (e.g., automotive, capital goods, consumer durables) necessitates new machinery and upgrades.
Capital Expenditure Cycle: A favorable economic environment and corporate profitability can lead to increased capital expenditure by industries.
Technological Upgrades & Automation: Demand for more efficient, automated, and IoT-enabled equipment.
Export Opportunities: Expanding into international markets if the company's products are globally competitive.
Risks
Key business risks for MPF Systems Ltd. include:
Cyclical Demand: The industrial equipment sector is highly sensitive to economic cycles and capital expenditure trends, leading to demand volatility.
Raw Material Price Volatility: Fluctuations in the prices of steel, non-ferrous metals, and other components can impact manufacturing costs and profitability.
Intense Competition: From both domestic and international players, leading to pricing pressures and margin erosion.
Technological Obsolescence: Rapid advancements in industrial technology can render existing equipment and manufacturing processes less competitive.
Regulatory & Environmental Compliance: Evolving industrial regulations and environmental standards could require significant investments.
Foreign Exchange Fluctuations: If the company relies on imported components or has export sales, currency volatility can impact costs and revenues.
Management & Ownership
As is common for many Indian companies, especially mid-sized ones, MPF Systems Ltd. is likely promoter-led. This typically implies a strong focus on long-term vision and commitment from the founding family or individuals. The quality of management would depend on their experience, strategic capabilities, corporate governance practices, and ability to navigate industry cycles and technological changes. The ownership structure would likely see significant holdings by the promoter group, with the remaining shares held by institutional investors and the public.
Outlook
MPF Systems Ltd., operating in the core industrial equipment sector, stands to benefit from India's long-term economic growth, government push for manufacturing, and infrastructure development. The increasing focus on domestic production and modernization across industries provides a conducive environment for demand for its products and services. However, the company faces inherent challenges common to the sector, including cyclical demand, intense competition, and raw material price volatility. Its ability to innovate, maintain cost competitiveness, secure strong client relationships, and adapt to technological advancements will be crucial for sustained growth and profitability. The outlook is balanced, acknowledging both the significant tailwinds from the Indian economy and the sector-specific operational and competitive challenges.
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| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 |
| Total Expenditure | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -1 | -0 | -0 | -0 | -0 | 4 | -0 |
| Interest | 0 | 0 | 0 | 1 | 0 | 0 | -0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | -0 | -1 | -0 | -0 | -0 | -0 | 4 | -0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | -0 | -0 | -1 | -0 | -0 | -0 | -0 | 4 | -0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | -0 | -1 | -0 | -0 | -0 | -0 | 4 | -0 |
| Adjusted Earnings Per Share | -5.9 | -7.9 | -6.6 | -4.2 | -1.1 | -0.5 | -0.2 | -0.2 | 14.9 | -0.2 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 4 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 4 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -1 | 4 | 4 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -2 | 4 | 4 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -2 | 4 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -2 | 4 | 4 |
| Adjusted Earnings Per Share | -7.5 | -9.7 | -7.3 | -11.2 | -7.7 | -12 | -7.8 | -5.2 | -2.3 | -6.2 | 14.1 | 14.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -90% | -12% | 1% | 8% |
| ROE Average | 244% | 81% | 49% | 22% |
| ROCE Average | 100% | -1% | -1% | -0% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | -0 | -0 | -0 | -1 | -1 | -1 | -1 | -1 | -1 | -0 | 3 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 3 | 3 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 0 | 0 |
| Total Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 7 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Total Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 5 |
| Total Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 7 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -0 | 0 | -0 | -0 | 0 | -0 | -0 | -0 | 0 | -3 | 2 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 |
| Cash Flow from Financing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | -2 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 0 | 0 | -0 | 0 | -0 | 0 | 0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -7.53 | -9.74 | -7.29 | -11.22 | -7.67 | -11.98 | -7.79 | -5.2 | -2.29 | -6.25 | 14.08 |
| CEPS(Rs) | -7.47 | -9.73 | -7.29 | -11.22 | -7.67 | -11.98 | -7.79 | -5.2 | -2.29 | -6.25 | 14.08 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -10.56 | -20.3 | -27.59 | -38.8 | -46.48 | -58.47 | -66.26 | -71.45 | -73.74 | -1.28 | 12.8 |
| Core EBITDA Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | -127.93 | -905.83 | -273.29 | 0 | 93.94 |
| EBIT Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | -75.68 | -276.67 | 91.71 | 0 | 93.99 |
| Pre Tax Margin(%) | 0 | 0 | 0 | 0 | 0 | 0 | -116.74 | -737.5 | -55.57 | 0 | 93.95 |
| PAT Margin (%) | 0 | 0 | 0 | 0 | 0 | 0 | -116.74 | -737.5 | -55.57 | 0 | 85.95 |
| Cash Profit Margin (%) | 0 | 0 | 0 | 0 | 0 | 0 | -116.74 | -737.5 | -55.57 | 0 | 85.95 |
| ROA(%) | -155.85 | -413.18 | -272.25 | -454.12 | -282.21 | -420.48 | -307.42 | -238.22 | -44.03 | -134.93 | 85.77 |
| ROE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 244.45 |
| ROCE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -103.08 | 99.68 |
| Receivable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.52 | 0 | 365 |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | -0.65 | -0.24 | 0 | -0.15 | -0.12 | -0.09 | 0 | -0.16 | -0.29 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0 | 0 | 0 | 0 | 0 | 0 | 10.63 | 115.16 | 20.55 | 0 | 1.2 |
| EV/Core EBITDA(x) | -1.23 | -1.94 | -4.22 | -3.19 | -5.72 | -6.45 | -14.05 | -41.62 | 22.41 | -4.38 | 1.28 |
| Net Sales Growth(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -89.43 | 483.33 | -100 | 0 |
| EBIT Growth(%) | 74.31 | -29.71 | 25.35 | -53.26 | 31.17 | -18.16 | 44.18 | 61.35 | 293.37 | -1877.88 | 466.86 |
| PAT Growth(%) | 74.31 | -29.43 | 25.17 | -53.92 | 31.6 | -56.04 | 34.95 | 33.21 | 56.05 | -4267.35 | 325.38 |
| EPS Growth(%) | -413.87 | -29.43 | 25.17 | -53.92 | 31.6 | -56.07 | 34.95 | 33.21 | 56.04 | -173.19 | 325.38 |
| Debt/Equity(x) | -0.24 | -0.73 | -0.77 | -0.78 | -0.85 | -0.92 | -0.94 | -1 | -0.97 | -7.47 | 0.77 |
| Current Ratio(x) | 0.03 | 0.04 | 0.02 | 0.01 | 0.02 | 0.07 | 0.03 | 0.02 | 0.1 | 19.13 | 11.31 |
| Quick Ratio(x) | 0.03 | 0.04 | 0.02 | 0.01 | 0.02 | 0.07 | 0.03 | 0.02 | 0.1 | 19.13 | 11.31 |
| Interest Cover(x) | -249.05 | -543 | -239.06 | -117.57 | -432.56 | -3.09 | -1.84 | -0.6 | 0.62 | -2.05 | 1993.95 |
| Total Debt/Mcap(x) | 0.02 | 0.15 | 0 | 5.31 | 7.32 | 10.19 | 0 | 6.29 | 3.37 | 0 | 0 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 32.81 | 32.81 | 32.81 | 0 | 0 | 0 | 32.81 | 32.81 | 70 | 70 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.54 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.03 | 0.03 | 0 | 0 |
| Public | 66.65 | 67.16 | 67.16 | 99.95 | 99.95 | 99.95 | 67.16 | 67.16 | 30 | 30 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0.01 | 0.01 | 0.19 | 0.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.08 | 0.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.27 | 0.27 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | — | — | — |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | — | — | — | — |
| Share Price CAGR | -90% | -12% | +1% | +8% |
| ROE Average | +244% | +81% | +49% | +22% |
| ROCE Average | +100% | -1% | -1% | 0% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 32.81 | 32.81 | 32.81 | 0 | 0 | 0 | 32.81 | 32.81 | 70 | 70 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.54 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 | 0.03 | 0.03 | 0 | 0 |
| Public | 66.65 | 67.16 | 67.16 | 99.95 | 99.95 | 99.95 | 67.16 | 67.16 | 30 | 30 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0.01 | 0.01 | 0.19 | 0.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.08 | 0.08 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.27 | 0.27 |
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