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Dossier · MAZDA LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
MAZDA LIMITED NSE: MAZDA · BSE: 523792
Industrials › Capital Goods › Industrial Manufacturing › Industrial Products
MAZDA LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹292.50
Market cap₹0.6k cr
TTM P/E · P/B · EV/EBITDA19.6 · 2.35 · 12.9
Operates two divisions. The Engineering Division contributes 83.2% of segment revenue and manufactures industrial equipment, including Multi Effect Evaporator and Agitated Thin Film Dryer systems used in industrial waste treatment. The Food Division contributes 16.8% of segment revenue. Total FY26 segment revenue was Rs. 212.05 crore. Materials are the largest cost item at 63.4% of revenue, followed by employee costs at 15.4% and other operating expenses at 25.5%. The Engineering Division runs at 25.8% EBIT margin while the Food Division runs at 11.3%. The company has zero debt on its balance sheet. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Engineering Division (83%), Food Division (17%). Custom industrial equipment manufacturing with a smaller food business
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · standalone
FY22
FY23
FY24
FY25
FY26
Revenue
165
192
225
193
212
EBITDA (ex other income)
28
37
40
30
34
margin %
16.7
19.4
17.6
15.5
16.3
Owners' profit
21
27
32
25
28
EPS, as reported (₹)
53.04
66.48
78.70
12.41
13.74
ROE % · ROCE %
13.0 · 17.0
14.3 · 19.1
14.9 · 19.5
10.8 · 14.2
11.0 · 14.5
Debt / equity (x)
0.00
0.00
0.00
0.00
0.00
Cash from operations
8
24
43
11
(19)
Capex
(16)
(5)
(3)
(4)
(4)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · MAZDA LIMITED · 29 October 2026Page 2 of 3
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
57
47
54
50
51
47
64
80
Profit before tax
12
10
8
6
10
11
9
10
Net profit
9
7
6
5
8
9
6
7
EPS (₹)
22.42
3.71
2.77
2.45
3.79
4.36
3.14
3.66
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
Segment
Revenue, ₹ crore
Share %
ENGINEERING DIVISION
176
83.2
FOOD DIVISION
36
16.8
Total, before eliminations
212
100.0
Source: the filed segment block, four quarters summed.
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. %
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
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
19.6
26.7
50 of 130
62%
P/B
2.4
3.1
48 of 112
58%
ROCE
14.2
11.3
56 of 142
61%
ROE
11.0
9.8
50 of 113
56%
Debt / Equity
0.0
0.2
1 of 113
80%
EBITDA margin
13.6
12.4
51 of 110
54%
Revenue growth
61.9
20.6
19 of 114
84%
Profit growth
49.2
17.1
44 of 109
60%
Market cap
586
273
53 of 141
63%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · MAZDA LIMITED · 29 October 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
15 Oct 2026 · Reg 74(5) certificate filed for quarter ended 30 Sep 2026
compliance
minimal
—
—
24 Sept 2026 · Trading window closed from Oct 1 till Q2 results announcement
21 Sept 2026 · Mazda Limited 36th AGM: final dividend of Rs 4 per share and key resolutions
board shareholder meetings
medium
—
—
27 Aug 2026 · AGM notice published in newspapers, 36th AGM on 21 Sep 2026
compliance
minimal
—
—
26 Aug 2026 · Mazda Limited submits FY25-26 Annual Report and 36th AGM notice
board shareholder meetings
medium
—
—
25 Aug 2026 · Newspaper publication of 36th AGM notice
compliance
minimal
—
—
17 Aug 2026 · Mazda fixes 4 Sep 2026 as record date for FY26 final dividend
corporate actions
medium
—
—
12 Aug 2026 · Q1 FY27 unaudited results published in newspapers
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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A rating (BUY / ADD / REDUCE / SELL)
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The current price and the multiples against the group
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Estimate years marked E
More audited years; no estimates
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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.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
