MIL Industries Unlisted Share Price
About MIL Industries Unlisted Share Price
About MIL Industries Limited
MIL Industries Limited is a pioneer in the field of corrosion and abrasion-resistant rubber linings, serving industries like chemicals, fertilizers, and mining. Established through technical collaborations with France’s Societe Chimique de Gerland and later OHJI Rubber & Chemicals Co. Japan, MIL introduced Cold Bond Rubber Lining in India. With an estimated 40% market share, the company is a key B2B supplier to leading industrial sectors.
Business Divisions
A. Rubber Linings & Products
- MILGERLAN Rubber Linings: Durable linings for tanks, pipelines, and vessels.
- MIL-O-FLEX Rubber Products: Expansion joints, gaskets, hoses, bellows, and more.
- Granulator Panels & Sheets: Custom rubber solutions for mining and phosphatic industries.
- Ceramic Pulley Lagging Sheets: Cold bonding sheets with CN layers for conveyor systems.
B. Engineering Services
- Chemical Plant Equipment: Electrolytic cells, brine purification, caustic soda systems.
- Environmental Solutions: Air pollution control (MILAIRCLEN), wastewater treatment, solvent recovery.
- System Integration: Custom-engineered plant setups for various industrial applications.
C. Manufacturing Units
- Ambattur, Chennai: HQ and main plant with R&D and fabrication capacity.
- Gummidipoondi, Tamil Nadu: Advanced facility for PTFE products in collaboration with UK’s Fluorocarbon Ltd.
Financial Highlights (FY 2022–2024)
- Revenue Growth: Increased steadily from ₹3428 lakhs in FY22 to ₹3833 lakhs in FY24.
- Rising Gross Margins: Improved from 61.64% in FY22 to a robust 70.21% in FY24.
- EBITDA Jump: EBITDA rose from ₹479 lakhs (FY22) to ₹739 lakhs (FY24), showing higher operational efficiency.
- PAT More Than Doubled: Net Profit After Tax grew from ₹239 lakhs in FY22 to ₹533 lakhs in FY24.
- EPS Surge: Earnings per Share nearly doubled from ₹7.59 (FY22) to ₹16.92 (FY24).
- Low Debt: Borrowings decreased significantly to ₹57 lakhs in FY24, improving financial stability.
- Strong Reserves: Reserves rose to ₹2714 lakhs in FY24, up from ₹2178 lakhs in FY23, showing retained earnings strength.
Pros
- Dominant Market Position: Holds 40% market share in India’s rubber lining sector.
- Diversified Product Portfolio: Serves chemical, fertilizer, mining, and even aerospace sectors.
- Strong Financials: Consistent growth in PAT, EPS, and reserves with minimal debt
Cons
- Unlisted Nature: Limited liquidity and transparency compared to listed peers.
- Raw Material Dependency: Vulnerable to fluctuations in rubber and polymer prices.
- Sector-Specific Demand: Heavy reliance on industrial capex cycles for growth.
Key Details
| Share Name | Particulars |
|---|---|
| Mohan Meakin Unlisted | ₹325.00 |
| Shares Price | Per Equity Share |
| Lot Size | 100 Shares |
| 52 Week High | ₹ ** |
| 52 Week Low | ₹ ** |
| Depository | NSDL & CDSL |
| PAN Number | AAACM4380Q |
| ISIN Number | INE651L01019 |
| CIN | L25199TN1966PLC005397 |
| RTA | Integrated Registry Management Services |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 102.38 |
| P/E Ratio | 29.90 |
| P/B Ratio | 3.03 |
| Debt to Equity | 0.03 |
| ROE (%) | 10% |
| Book Value | 107.11 |
| EPS | 10.87 |
| Face Value | 10 |
| Total Shares | 3,150,000 |
Financials
| P&L Statement | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenue | 3,833 | 3,576 | |
| Cost of Material Consumed | 1,142 | 1,198 | |
| Gross Margins (%) | 70.21 | 66.5 | |
| Change in Inventory | 107 | 68 | |
| Employee Benefit Expenses | 466 | 391 | |
| Other Expenses | 1,379 | 1,499 | |
| EBITDA | 739 | 420 | |
| OPM (%) | 19.28 | 11.74 | |
| Other Income | 146 | 115 | |
| Finance Cost | 24 | 25 | |
| D&A | 122 | 125 | |
| EBIT | 617 | 295 | |
| EBIT Margins (%) | 16.10 | 8.25 | |
| PBT | 740 | 385 | |
| PBT Margins (%) | 19.31 | 10.77 | |
| Tax | 207 | 103 | |
| PAT | 533 | 282 | |
| NPM (%) | 13.91 | 7.89 | |
| EPS | 16.92 | 8.95 |
| Financial Ratios | FY25 | FY24 | FY23 |
|---|---|---|---|
| Operating Margin | 13% | 20% | 13% |
| Net Profit Margin | 9% | 14% | 9% |
| Return on Equity | 10% | 18% | 8% |
| Debt-Equity | 0.03 | 0.02 | 0 |
| Current Ratio | 4.11 | 6.32 | 17.11 |
| Dividend Payout | 0% | 6% | 16% |
| Company | MIL Industries Ltd | MM Rubber Company Ltd | Dolfin Rubbers Ltd |
|---|---|---|---|
| Market Cap (₹ Crores) | 102 | 51 | 202 |
| Profitability Margin (%) | 9% | -9% | 4% |
| ROCE (%) | 14% | -11% | 17% |
| ROE (%) | 10% | -23% | 17% |
| D/E Ratio | 0.03 | 0.73 | 0.54 |
| P/E Ratio | 29.9 | — | 39.5 |
| P/B Ratio | 3.03 | 3.63 | 6.06 |
| Book Value per Share (₹) | 107.11 | 22.8 | 33.3 |
| Assets | 2025 | 2024 | 2023 |
|---|---|---|---|
| Fixed Assets | 415 | 433 | |
| CWIP | 0 | 0 | |
| Investments | 0 | 0 | |
| Trade Receivables | 546 | 688 | |
| Inventory | 341 | 446 | |
| Other Assets | 2,203 | 1,647 | |
| Total Assets | 3,505 | 3,214 |
| Liabilities | 2025 | 2024 | 2023 |
|---|---|---|---|
| Share Capital | 315 | 315 | |
| FV | 10 | 10 | |
| Reserves | 2,714 | 2,178 | |
| Borrowings | 57 | 200 | |
| Trade Payables | 164 | 251 | |
| Other Liabilities | 255 | 270 | |
| Total Liabilities | 3,505 | 3,214 |
Promoters or Management
| Name | Designation | Experience | LinkedIn Profile |
|---|---|---|---|
| Raghu Raman | Managing Director | 25+ | — |
| Noman H. Millwala | Chairman | 30+ | — |
| N. Guruswamy | CFO | 20+ | — |
