BSE: 523248
MACHINO PLASTICS LTD.
Makes plastic injection moulded parts and moulds and dies for the auto industry, with plastic injection moulding parts being the larger of the two product lines. The moulds and dies business supplies tooling to the same auto OEM customer base, and a new manufacturing unit is being set up for Maruti Suzuki India Ltd, indicating MSIL is a key customer. FY26 total revenue grew 26.6% year-on-year to Rs 492.16 crore, but profit after tax fell sharply to Rs 1.32 crore from Rs 8.56 crore in FY25. Raw materials are the largest cost at 56.9% of revenue, followed by employee costs at 14.5% and other operating expenses at 21.2%. Capital spending was Rs 84.15 crore in FY26, equal to 17.1% of revenue. Total bank facilities stood at Rs 172.3 crore as rated by CRISIL and Rs 193 crore as rated by ICRA. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Plastic Injection Moulding Parts, Moulds and Dies. Auto component manufacturer, cyclical exposure to the auto sector
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 265 | 331 | 338 | 389 | 492 |
| EBITDA (ex other income) | 16 | 21 | 26 | 33 | 36 |
| margin % | 6.2 | 6.4 | 7.7 | 8.4 | 7.4 |
| Owners' profit | (2) | 2 | 4 | 9 | 1 |
| EPS, as reported (₹) | (4.04) | 2.60 | 6.02 | 13.94 | 2.16 |
| ROE % · ROCE % | (5.0) · 3.9 | 3.1 · 12.6 | 6.8 · 14.1 | 13.5 · 14.4 | 1.0 · 6.6 |
| Debt / equity (x) | 1.90 | 1.72 | 1.62 | 2.83 | 1.78 |
| Cash from operations | 19 | 17 | 21 | 26 | 41 |
| Capex | (2) | (5) | (17) | (105) | (84) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 95 | 93 | 94 | 107 | 113 | 110 | 126 | 143 |
| Profit before tax | 2 | 3 | 3 | 3 | 4 | 0 | (2) | 0 |
| Net profit | 1 | 2 | 2 | 4 | 2 | 1 | (1) | 0 |
| EPS (₹) | 2.28 | 3.45 | 2.51 | 5.71 | 3.26 | 0.89 | (2.40) | 0.41 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Plastic injection Moulding parts | 126 | 25.6 |
| Moulds & dies | 17 | 3.5 |
| Plastic Injection Mnoulding Parts | 195 | 39.7 |
| Moulds & Dies | 61 | 12.5 |
| Plastic Injection Moulding Parts | 92 | 18.7 |
| Total, before eliminations | 492 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 119.5 | 25.3 | 114 of 119 | 4% |
| P/B | 1.2 | 3.2 | 19 of 117 | 85% |
| ROCE | 0.8 | 12.6 | 115 of 125 | 8% |
| ROE | 1.0 | 11.7 | 109 of 117 | 7% |
| Debt / Equity | 1.8 | 0.3 | 113 of 117 | 3% |
| EBITDA margin | 8.6 | 12.2 | 94 of 118 | 21% |
| Revenue growth | 33.8 | 20.2 | 19 of 113 | 84% |
| Profit growth | (92.9) | 24.4 | 105 of 115 | 9% |
| Market cap | 158 | 1460 | 99 of 126 | 22% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Internal auditor Goel Garg and Co resigns | management changes | medium | — | — |
| 6 Oct 2026 · Routine RTA compliance certificate for Q2 FY26 dematerialization | compliance | minimal | — | — |
| 6 Oct 2026 · Quarterly compliance certificate for dematerialized shares filed | compliance | minimal | — | — |
| 29 Sept 2026 · AGM results: All 5 resolutions passed at 41st AGM | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 41st AGM of Machino Plastics held; all 5 resolutions passed | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closure from October 1, 2026 for Q2 Results | compliance | minimal | — | — |
| 27 Aug 2026 · Independent Director Sandeep Goel resigns citing other commitments | management changes | medium | — | — |
| 27 Aug 2026 · Machino Plastics 41st AGM on 29 Sept 2026; book closure and e-voting details | compliance | minimal | — | — |
| 26 Aug 2026 · Web-link of Annual Report for FY2025-26 | investor communications | medium | — | — |
| 26 Aug 2026 · Machino Plastics FY26 Annual Report and 41st AGM Notice | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.