NSE: MAMATA · BSE: 544318
MAMATA MACHINERY LIMITED
Manufactures packaging machinery for the plastics and flexible packaging industry, with its main plant at Moraiya, Sanand (Ahmedabad). The product range includes blown film extrusion lines, including 9-layer blown film equipment, cross-sealing technology (for which it holds a European patent), and RecTech recyclable mono-material film technology launched at Plastindia 2026. FY26 consolidated revenue was Rs 233 crore, with the domestic packaging business growing 55% while the US business roughly halved on tariff uncertainty and West Asia conflict, dragging total revenue down 8%. The order book at the end of FY26 stood at Rs 89.6 crore, up 34% year-on-year, including a first 9-layer blown film export order. The cost structure is dominated by materials at 42% of revenue, followed by employee costs at 21.2% and other operating expenses at 23.8%. The company is net-debt-free with Rs 69.3 crore of cash reserves and declared a 5% dividend for FY26. CEO Apurva N. Kane is superannuating on September 30, 2026, with Rajashekar Venkat (ex-Kennametal, Markem-Imaje, Mettler Toledo, Domino Printing) taking over from October 1, 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Packaging machinery (domestic), Packaging machinery (exports, primarily US). Cyclical, capital-equipment maker for the plastics and flexible packaging industry, with material export exposure.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 255 | 233 |
| EBITDA (ex other income) | 55 | 19 |
| margin % | 21.5 | 8.2 |
| Owners' profit | 0 | 15 |
| EPS, as reported (₹) | 16.56 | 6.12 |
| ROE % · ROCE % | 23.8 · 32.1 | 8.1 · 10.5 |
| Debt / equity (x) | 0.02 | 0.04 |
| Cash from operations | 73 | 2 |
| Capex | (2) | (7) |
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 | 43 | 73 | 111 | 387 | 53 | 67 | 74 | 36 |
| Profit before tax | 5 | 13 | 37 | 37 | 6 | 10 | 0 | (4) |
| Net profit | 5 | 9 | 27 | 26 | 5 | 8 | 0 | (3) |
| EPS (₹) | 1.89 | 3.56 | 11.02 | 1.08 | 1.84 | 3.20 | 0.00 | (1.41) |
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 | 46,786 | 97.2 | 24.93 | 80.7 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 29,194 | 78.7 | 9.52 | 50.8 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 27,680 | 50.5 | 6.20 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 22,459 | 64.9 | 4.72 | 31.9 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 21,078 | 65.5 | 10.53 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 17,356 | 99.3 | 6.05 | 56.2 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,374 | 469.7 | 3.93 | 40.0 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,314 | 48.4 | 7.32 | 50.2 | 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) | 103.5 | 26.5 | 117 of 130 | 10% |
| P/B | 5.0 | 3.1 | 74 of 112 | 34% |
| ROCE | 10.1 | 11.3 | 79 of 142 | 45% |
| ROE | 8.1 | 9.8 | 68 of 113 | 40% |
| Debt / Equity | 0.0 | 0.2 | 34 of 113 | 71% |
| EBITDA margin | (8.1) | 12.4 | 105 of 110 | 5% |
| Revenue growth | (90.6) | 20.6 | 112 of 114 | 2% |
| Profit growth | (113.1) | 17.1 | 100 of 109 | 8% |
| Market cap | 925 | 279 | 45 of 141 | 69% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Mamata Machinery's RecTech gets APR recyclability recognition in the US | compliance | low | — | — |
| 6 Oct 2026 · Compliance certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Promoter group sells 2.36% stake in Mamata Machinery via open market | ownership changes | medium | — | — |
| 26 Sept 2026 · Mamata Machinery closes trading window ahead of Q2 results | compliance | minimal | — | — |
| 8 Sept 2026 · NSE seeks clarification on Q1 FY27 results compliance | regulatory legal | low | — | — |
| 21 Aug 2026 · Mamata Machinery gets patent for Quadra 600 machine technology | business updates | low | — | — |
| 21 Aug 2026 · Patent granted for Quadra 600 machine BOPP bag technology | business updates | medium | — | — |
| 18 Aug 2026 · Mamata Machinery files patent for Die and Screw design behind RecTech | compliance | low | — | — |
| 18 Aug 2026 · Patent filing for Die and Screw Design in RecTech | business updates | low | — | — |
| 14 Aug 2026 · Board approves Q1 FY27 results, adds member to Audit Committee | results | high | — | — |
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.