NSE: MACPOWER
MACPOWER CNC MACHINES LTD
Makes CNC (computer numerically controlled) machines for industrial customers, offering 380-plus product variants sold into defence, aerospace and automotive sectors. Operates a manufacturing facility at Metoda GIDC, Rajkot, with an existing capacity of 2,500 machines per year, and is investing about ₹50 crore over 12 months on a newly-leased 13-acre plot nearby to debottleneck production, add component manufacturing and enable backward integration, supported by capital and interest subsidies under the Viksit Gujarat Industrial Policy 2026. FY26 revenue was ₹333.18 crore with an EBITDA margin of 16.28% and net profit of ₹33.87 crore. Q1 FY27 saw revenue rise 56% year-on-year to ₹95.24 crore and profit after tax more than double to ₹9.58 crore. Order book stood at ₹456 crore at the start of Q1 FY27, with the NEXA series accounting for 40%, and total bids submitted of about ₹1,043 crore include ₹376 crore under evaluation in defence. The company targets 10,000 machines per year by 2030 and an EBITDA margin above 18%, and is debt-free with promoter holding of 73.22%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. CNC machines, NEXA series. Capital-goods CNC machine manufacturer, asset-light capex, debt-free
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 190 | 202 | 241 | 262 | 333 |
| EBITDA (ex other income) | 21 | 21 | 35 | 41 | 54 |
| margin % | 11.0 | 10.2 | 14.7 | 15.6 | 16.2 |
| Owners' profit | 0 | 13 | 24 | 25 | 34 |
| EPS, as reported (₹) | 12.83 | 12.88 | 24.24 | 25.43 | 33.86 |
| ROE % · ROCE % | — · — | 13.3 · 17.7 | 20.4 · 26.7 | 17.8 · 23.8 | 19.3 · 26.2 |
| Debt / equity (x) | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (7) | 5 | 17 | 7 | 14 |
| Capex | 0 | (7) | (11) | (16) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 71 | 60 | 80 | 61 | 86 | 86 | 100 | 95 |
| Profit before tax | 11 | 6 | 12 | 6 | 13 | 13 | 14 | 13 |
| Net profit | 8 | 4 | 9 | 5 | 9 | 10 | 10 | 10 |
| EPS (₹) | 8.30 | 4.47 | 8.59 | 4.55 | 9.37 | 9.79 | 10.14 | 9.58 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 49.9 | 26.7 | 93 of 130 | 29% |
| P/B | 11.1 | 3.1 | 99 of 112 | 12% |
| ROCE | 25.4 | 11.3 | 16 of 142 | 89% |
| ROE | 19.3 | 9.8 | 14 of 113 | 88% |
| Debt / Equity | 0.0 | 0.2 | 26 of 113 | 78% |
| EBITDA margin | 16.4 | 12.4 | 42 of 110 | 62% |
| Revenue growth | 56.1 | 20.6 | 21 of 114 | 82% |
| Profit growth | 110.3 | 17.1 | 26 of 109 | 77% |
| Market cap | 1941 | 273 | 34 of 141 | 76% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Macpower schedules one-on-one meeting with Equirius AMC on November 3 | board shareholder meetings | low | — | — |
| 28 Oct 2026 · Macpower publishes unaudited September quarter and half-year results | compliance | minimal | — | — |
| 28 Oct 2026 · Macpower publishes unaudited Q2 and H1 FY27 results in newspapers | compliance | minimal | — | — |
| 27 Oct 2026 · Macpower shares recording of September 2026 results call | investor communications | low | — | — |
| 27 Oct 2026 · Record Q2 FY27, Rs 476 crore order book and expansion plans | investor communications | medium | — | — |
| 26 Oct 2026 · September 2026 quarter revenue up 40%, profit up 44%; half-year revenue up 47%, profit up 66% | results | medium | — | — |
| 26 Oct 2026 · Macpower September quarter revenue up 40 percent, half year profit up 65 percent | results | high | — | — |
| 21 Oct 2026 · Macpower schedules results call for Q2 and H1 FY27 | board shareholder meetings | low | — | — |
| 21 Oct 2026 · Board meeting on Oct 26, 2026 to approve Q2 and H1 FY27 results | results | low | — | — |
| 12 Oct 2026 · Routine RTA certificate for Q2 FY27 dematerialisation compliance | compliance | minimal | — | — |
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.