About
Modern Insulators Limited manufactures and sells porcelain insulators in India and internationally. It operates through two segments: Insulators and Terry Towels. The company offers hollow porcelain insulators that are used in current transformers, voltage transformers, capacitive voltage transformers, SF6 and non-SF6 circuit breakers, surge arresters, power transformer bushings, and wall through bushings; and solid core post insulators that are used in isolators, pantographs, bus bar supports, wave trap supports, capacitor bank supports, and transmission and distribution as line post insulators. It also provides long rod insulators for use in high voltage transmission lines; and stay arm, bracket, 9 tonne, sectioning, post, and operating rod insulators for railway applications. In addition, the company engages in EPC projects. The company serves utilities, railways, and OEMs and EPC companies. The company was incorporated in 1982 and is headquartered in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap2,063 Cr
P/E21.90
Div Yield0.00 %
Book Value₹115.00
52w High₹579.00
52w Low₹101.00
Face Value₹10.00
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 | 188.00 | 203.00 | 199.00 | 176.00 | 141.00 | 160.00 | 125.00 | 115.00 | 104.00 | 140.00 | 107.00 | 106.00 | 90.00 |
| Expenses | 157.00 | 171.00 | 168.00 | 158.00 | 128.00 | 142.00 | 115.00 | 110.00 | 99.00 | 125.00 | 97.00 | 101.00 | 85.00 |
| Operating Profit | 32.00 | 31.00 | 32.00 | 19.00 | 13.00 | 18.00 | 10.00 | 5.00 | 5.00 | 15.00 | 11.00 | 5.00 | 4.00 |
| OPM % | 17.00 | 16.00 | 16.00 | 11.00 | 9.00 | 11.00 | 8.00 | 4.30 | 5.00 | 11.00 | 10.00 | 5.00 | 4.80 |
| Other Income | 9.00 | 6.00 | 4.00 | 7.00 | 5.00 | -1.00 | 5.00 | 10.00 | 6.00 | 3.00 | 3.00 | 3.00 | 3.00 |
| Depreciation | 2.00 | 3.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Interest | 1.00 | 2.00 | 1.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Profit before tax | 37.00 | 33.00 | 32.00 | 22.00 | 14.00 | 13.00 | 12.00 | 12.00 | 8.00 | 15.00 | 10.00 | 6.00 | 3.00 |
| Tax % | 21.00 | 28.00 | 24.00 | 23.00 | -6.00 | 34.00 | 21.00 | -6.00 | 1.00 | -5.00 | 2.00 | -7.00 | -14.00 |
| Net Profit | 30.00 | 24.00 | 24.00 | 17.00 | 15.00 | 9.00 | 9.00 | 13.00 | 8.00 | 16.00 | 10.00 | 6.00 | 4.00 |
| EPS in Rs | 6.28 | 5.06 | 5.12 | 3.52 | 3.23 | 1.85 | 1.97 | 2.77 | 1.60 | 3.41 | 2.13 | 1.31 | 0.81 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2016 | Mar 2015 | Mar 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 720.00 | 503.00 | 443.00 | 431.00 | 442.00 | 398.00 | 440.00 | 461.00 | 418.00 | 459.00 |
| Expenses | 625.00 | 466.00 | 408.00 | 408.00 | 419.00 | 359.00 | 404.00 | 419.00 | 381.00 | 418.00 |
| Operating Profit | 95.00 | 37.00 | 35.00 | 23.00 | 23.00 | 40.00 | 36.00 | 42.00 | 37.00 | 41.00 |
| OPM % | 13.00 | 7.00 | 8.00 | 5.00 | 5.00 | 10.00 | 8.00 | 9.00 | 9.00 | 9.00 |
| Other Income | 22.00 | 20.00 | 12.00 | 15.00 | 12.00 | 15.00 | 6.00 | 11.00 | 5.00 | -6.00 |
| Interest | 6.00 | 4.00 | 3.00 | 4.00 | 5.00 | 9.00 | 13.00 | 13.00 | 19.00 | 12.00 |
| Depreciation | 10.00 | 9.00 | 9.00 | 9.00 | 9.00 | 11.00 | 10.00 | 8.00 | 9.00 | 8.00 |
| Profit before tax | 101.00 | 45.00 | 35.00 | 26.00 | 21.00 | 34.00 | 19.00 | 32.00 | 14.00 | 16.00 |
| Tax % | 21.00 | 14.00 | -4.00 | -9.00 | -7.00 | 1.00 | -20.00 | 8.00 | -19.00 | 10.00 |
| Net Profit | 80.00 | 39.00 | 36.00 | 28.00 | 22.00 | 34.00 | 22.00 | 29.00 | 17.00 | 14.00 |
| EPS in Rs | 16.94 | 8.19 | 7.65 | 5.93 | 4.67 | 7.25 | 4.77 | — | — | — |
| Dividend Payout % | 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 2016 | Mar 2015 | Mar 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 47.00 | 47.00 | 47.00 | 47.00 | 47.00 | 47.00 | 47.00 | 22.00 | 22.00 | 22.00 |
| Reserves | 496.00 | 416.00 | 378.00 | 342.00 | 313.00 | 291.00 | 258.00 | 243.00 | 214.00 | 197.00 |
| Borrowings | 68.00 | 25.00 | 19.00 | 8.00 | 26.00 | 24.00 | 101.00 | 59.00 | 61.00 | 49.00 |
| Other Liabilities | 150.00 | 115.00 | 110.00 | 107.00 | 119.00 | 128.00 | 124.00 | 78.00 | 84.00 | 85.00 |
| Total Liabilities | 762.00 | 604.00 | 554.00 | 504.00 | 506.00 | 491.00 | 530.00 | 402.00 | 380.00 | 353.00 |
| Fixed Assets | 178.00 | 172.00 | 163.00 | 168.00 | 175.00 | 182.00 | 192.00 | 135.00 | 138.00 | 132.00 |
| CWIP | 1.00 | 1.00 | 2.00 | 4.00 | 0.00 | 0.00 | 0.00 | 2.00 | 2.00 | 2.00 |
| Investments | 114.00 | 46.00 | 19.00 | 5.00 | 10.00 | 9.00 | 2.00 | 20.00 | 17.00 | 20.00 |
| Other Assets | 469.00 | 384.00 | 370.00 | 326.00 | 320.00 | 299.00 | 336.00 | 245.00 | 223.00 | 199.00 |
| Total Assets | 762.00 | 604.00 | 554.00 | 504.00 | 506.00 | 491.00 | 530.00 | 402.00 | 380.00 | 353.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2016 | Mar 2015 | Mar 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 47.00 | 40.00 | 12.00 | 23.00 | 14.00 | 53.00 | 27.00 | 9.00 | -2.00 | 44.00 |
| Cash from Investing Activity | -83.00 | -41.00 | -16.00 | -4.00 | -8.00 | 35.00 | -34.00 | -8.00 | -13.00 | -19.00 |
| Cash from Financing Activity | 37.00 | 2.00 | 8.00 | -22.00 | -3.00 | -87.00 | -7.00 | -1.00 | 12.00 | -23.00 |
| Net Cash Flow | 1.00 | 0.00 | 3.00 | -3.00 | 3.00 | 1.00 | -14.00 | 0.00 | -3.00 | 1.00 |
| Free Cash Flow | 32.00 | 22.00 | 7.00 | 18.00 | 15.00 | 57.00 | 16.00 | 4.00 | -18.00 | 35.00 |
| CFO/OP % | 74.00 | 120.00 | 33.00 | 98.00 | 61.00 | 133.00 | 77.00 | 22.00 | -5.00 | 105.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2016 | Mar 2015 | Mar 2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 77.00 | 88.00 | 93.00 | 89.00 | 83.00 | 86.00 | 70.00 | 61.00 | 56.00 | 52.00 |
| Inventory Days | 291.00 | 325.00 | 271.00 | 306.00 | 332.00 | 345.00 | 415.00 | 156.00 | 214.00 | 125.00 |
| Days Payable | 102.00 | 99.00 | 85.00 | 83.00 | 108.00 | 126.00 | 147.00 | 54.00 | 66.00 | 55.00 |
| Cash Conversion Cycle | 266.00 | 314.00 | 279.00 | 312.00 | 307.00 | 305.00 | 338.00 | 163.00 | 204.00 | 122.00 |
| Working Capital Days | 177.00 | 147.00 | 166.00 | 154.00 | 125.00 | 123.00 | 80.00 | 51.00 | 51.00 | 45.00 |
| ROCE % | 19.00 | 9.00 | 9.00 | 7.00 | 6.00 | 10.00 | — | 13.00 | 12.00 | — |
Corporate Actions
1 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Other | 31 Oct 2025 | 31 Oct 2025 | — | — | Spin Off |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update19 Aug from crisil
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Rating update14 Aug from fitch
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Rating update5 May from crisil
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Rating update18 Nov 2025 from fitch
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Rating update8 Sep 2025 from fitch
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Rating update15 Nov 2024 from fitch