Minal Industries Limited

About

Minal Industries Limited operates as a diamantaire, and jewelry and engineering company worldwide. It provides dropshipping and custom jewelry design services. The company is involved in trading and exporting gold, silver, diamond, and related jewellery products. Minal Industries Limited was incorporated in 1988 and is based in Mumbai, India.

Key Metrics

as of Sep 2026

Market Cap103 Cr

P/E277.00

Div Yield0.00 %

Book Value₹2.77

52w High₹5.35

52w Low₹1.71

Face Value₹2.00

Quarterly Results

Rs. Crores · hover row for definition

Metric	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023
Sales	13.11	15.18	8.71	8.90	10.04	19.16	8.87	10.77	12.31	12.51	14.81	4.74	5.79
Expenses	11.07	14.29	9.89	10.08	9.30	15.22	9.82	10.57	11.63	12.07	7.72	8.78	8.47
Operating Profit	2.04	0.89	-1.18	-1.18	0.74	3.94	-0.95	0.20	0.68	0.44	7.09	-4.04	-2.68
OPM %	15.56	5.86	-13.55	-13.26	7.37	20.56	-10.71	1.86	5.52	3.52	47.87	-85.23	-46.29
Other Income	0.39	1.19	0.34	0.58	0.18	-0.22	0.87	0.23	0.15	-2.12	-1.31	0.21	1.45
Depreciation	0.14	0.14	0.14	0.14	0.14	0.13	0.14	0.14	0.13	0.12	0.22	0.11	0.07
Interest	0.02	0.01	0.02	-0.01	0.02	0.07	0.04	0.03	0.03	0.03	-0.32	0.23	0.26
Profit before tax	2.27	1.93	-1.00	-0.73	0.76	3.52	-0.26	0.26	0.67	-1.83	5.88	-4.17	-1.56
Tax %	-4.41	15.54	0.00	-2.74	10.53	-0.57	-96.15	-11.54	41.79	16.94	-1.19	3.36	0.64
Net Profit	2.37	1.63	-1.00	-0.71	0.68	3.54	-0.01	0.29	0.40	-2.13	5.95	-4.31	-1.58
EPS in Rs	0.05	0.02	-0.03	-0.02	0.03	0.05	0.03	-0.01	0.02	-0.15	0.15	-0.11	-0.04

Profit & Loss

Annual · Rs. Crores

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Sales	42.83	51.12	37.85	26.80	28.24	14.00	36.15	40.25	0.01	4.04	0.08	16.32
Expenses	43.55	47.26	37.05	27.05	28.40	19.41	45.61	41.37	16.51	7.04	0.63	15.97
Operating Profit	-0.72	3.86	0.80	-0.25	-0.16	-5.41	-9.46	-1.12	-16.50	-3.00	-0.55	0.35
OPM %	-1.68	7.55	2.11	-0.93	-0.57	-38.64	-26.17	-2.78	-165,000.00	-74.26	-687.50	2.14
Other Income	2.29	1.04	-1.76	2.34	2.30	1.28	3.25	1.43	7.51	0.01	0.23	-0.26
Interest	0.05	0.17	0.20	1.70	0.41	0.27	0.46	0.51	0.01	0.02	0.01	0.01
Depreciation	0.56	0.55	0.53	0.68	0.73	0.75	0.78	-0.86	0.07	0.15	0.05	0.07
Profit before tax	0.96	4.18	-1.69	-0.29	1.00	-5.15	-7.45	0.66	-9.07	-3.16	-0.38	0.01
Tax %	38.54	-0.72	23.08	6.90	33.00	-7.18	-0.54	50.00	0.44	-1.90	2.63	500.00
Net Profit	0.60	4.21	-2.08	-0.31	0.67	-4.78	-7.41	0.33	-9.11	-3.09	-0.39	-0.04
EPS in Rs	0.04	0.08	-0.15	0.02	0.02	-0.11	-0.27	0.00	-0.47	-0.16	-0.02	0.00
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance Sheet

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2016	Mar 2015	Mar 2014	Mar 2013
Equity Capital	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38	38.38
Reserves	14.82	14.86	15.05	16.39	15.27	14.68	16.84	21.71	54.78	62.00	63.93	61.42
Borrowings	6.32	8.24	13.24	11.82	9.12	18.97	19.01	20.76	0.35	0.35	0.40	0.41
Other Liabilities	28.21	23.68	24.48	17.65	9.92	11.30	14.76	22.83	8.77	530.73	509.77	466.17
Total Liabilities	87.73	85.16	91.15	84.24	72.69	83.33	88.99	103.68	102.28	631.46	612.48	566.38
Fixed Assets	3.62	3.77	3.86	4.19	4.48	5.02	5.75	4.47	1.15	1.22	1.32	1.37
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.16	20.59	20.68	25.71
Other Assets	84.11	81.39	87.29	80.05	68.21	78.31	83.24	99.21	88.97	609.65	590.48	539.30
Total Assets	87.73	85.16	91.15	84.24	72.69	83.33	88.99	103.68	102.28	631.46	612.48	566.38

Cash Flows

Annual · Rs. Crores — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2014	Mar 2013
Cash from Operating Activity	7.42	4.03	-1.05	-2.45	-17.47	4.90	-3.30	1.98	-8.14	-1.85
Cash from Investing Activity	-1.49	0.11	0.71	1.30	27.99	-3.82	0.35	-0.26	5.04	-0.25
Cash from Financing Activity	-1.97	-3.58	0.15	1.00	-11.31	-0.11	-2.13	0.54	2.89	2.06
Net Cash Flow	3.96	0.56	-0.19	-0.14	-0.79	0.97	-5.08	2.25	-0.21	-0.04
Free Cash Flow	7.01	3.57	-1.24	-2.83	-17.33	4.88	-1.51	1.98	-8.14	-1.85
CFO/OP %	-1,026.00	101.00	-85.00	968.00	11,125.00	-95.00	35.00	-183.00	1,480.00	-517.00

Ratios

Annual · Days / % — latest first

Metric	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021	Mar 2020	Mar 2019	Mar 2015	Mar 2013
Debtor Days	142.57	171.58	140.41	125.71	158.46	157.21	137.92	230.24	51,402.66	11,099.40
Inventory Days	742.19	573.16	1,057.21	1,529.33	1,117.27	2,302.63	712.54	844.83	1,628.00	558.84
Days Payable	208.78	119.36	249.04	202.10	31.59	86.67	15.80	115.99	39,430.41	11,607.00
Cash Conversion Cycle	675.99	625.37	948.58	1,452.94	1,244.14	2,373.17	834.66	959.08	13,600.26	51.24
Working Capital Days	492.15	459.32	627.88	737.22	688.77	1,225.10	592.28	562.69	7,065.10	1,610.07
ROCE %	1.42	5.97	3.53	1.97	1.89	-5.99	-10.17	—	-3.09	0.29

Shareholding Pattern

% holding — latest first

Holder	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023
Promoters	40.79	40.78	40.63	40.63	40.63	40.63	40.63	40.63	40.63	40.63	59.42	59.74
Public	59.21	59.22	59.37	59.38	59.38	59.37	59.38	59.38	59.37	59.37	40.58	40.26
No. of Shareholders	14,600	14,649	14,886	14,985	14,916	14,809	10,976	7,912	6,212	5,027	3,995	2,289