Mackinnon Mackenzie & Company Ltd (501874)
🎯 Key Takeaways
- Mackinnon Mackenzie & Company Ltd appears to be in a non-operational or dormant phase, with no revenue or profit generation in recent quarters and negative operating metrics. The company maintains a minimal balance sheet with negligible equity and assets, while liabilities persist.
- Revenue grew 0% QoQ to ₹0 in Q1FY27.
- ⚠️ 1) Persistent zero revenue and negative operating metrics suggest the core business may be defunct or severely impaired. 2) Negative equity and reserv
📖 The Story
Mackinnon Mackenzie & Company Ltd appears to be in a non-operational or dormant phase, with no revenue or profit generation in recent quarters and negative operating metrics. The company maintains a minimal balance sheet with negligible equity and assets, while liabilities persist. Governance remains stable with the reappointment of an independent director, but there is no indication of active business revival or strategic transformation.
📰 What's Happening
The most recent board-level action was the reappointment of Nandkishor Yashwant Joshi as a Non-Executive Independent Director on September 1, 2026, effective November 12, 2026, as disclosed in a neutral-sentiment filing. This move reinforces governance continuity but does not signal operational restart or new business initiatives. No new contracts, expansions, or management changes beyond this governance update have been announced in recent filings.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 |
| OPM % | -225.0% | -375.0% | -600.0% | -475.0% |
| Net Profit | -0 | 0 | -0 | -0 |
| EPS | ₹-3.70 | ₹15.46 | ₹-12.89 | ₹-7.55 |
The company reported zero revenue and negative operating performance across all recent quarters, with operating margins worsening from -225% to -600% between September 2025 and March 2026. Net losses deepened in the latest periods, though a brief positive EPS of ₹15.46 was recorded in December 2025, likely due to non-recurring or accounting adjustments. The financial trajectory reflects a complete absence of core business activity, with results showing no signs of stabilization or recovery.
🔮 Management Outlook & What's Next
There is no available forward guidance or explicit outlook from management in the provided filing content. The most recent disclosures focus solely on governance reappointments and do not include business updates, revenue forecasts, or capital allocation plans. Management has not articulated any strategy for revenue generation or operational revival in the available regulatory submissions.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 0 |
| Reserves | -869 | -869 | -870 | -870 |
| Borrowings | 826 | 826 | 826 | 826 |
| Total Liabilities | 7 | 7 | 6 | 6 |
| Fixed Assets | 0 | 0 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 7 | 7 | 6 | 6 |
The balance sheet shows a near-zero equity position with negative reserves of ₹-870 crore and consistent borrowings of ₹826 crore, suggesting high leverage relative to assets. Total assets have declined slightly from ₹7 crore to ₹6 crore, indicating asset erosion or minimal activity. The capital structure implies either a stalled restructuring or a financial entity in distress with no meaningful operations to fund.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -0 |
| Investing | +0 |
| Financing | -0 |
| Net Cash Flow | -0 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 0.0% | 0.0% | 0.0% | 0.0% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 18.5% | 18.5% | 18.5% | 18.5% |
| Public | 27.7% | 27.7% | 27.7% | 27.7% |
| # Shareholders | 4,233 | 4,233 | 4,233 | 4,233 |
Institutional holding remains steady at 18.47% by Foreign Institutional Investors and 27.67% by Domestic Institutional Investors, with no promoter stake. The shareholder base is fragmented across 4,233 public shareholders, indicating retail dominance. There is no evidence of accumulation or exit by major investors, and no changes in shareholding patterns over the last four quarters.
⚖️ Peer Comparison — Miscellaneous
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| GMRAIRPORT | 99,244 | 204.3 | 12.1% | -23.5% | -13.08 |
| NBCC | 22,991 | 31.1 | 41.3% | 30.9% | 0.00 |
| CMPDI | 15,897 | 28.8 | 32.4% | 24.2% | 0.00 |
| IGIL | 14,678 | 24.1 | 56.1% | 41.0% | 0.00 |
| HORIZONIND | 13,605 | — | — | — | 1.22 |
| RITES | 10,407 | 25.0 | 23.5% | 17.5% | 0.00 |
| RAIN | 6,946 | 12.9 | 12.0% | 8.9% | 1.21 |
| INOXGREEN | 6,432 | 51.5 | 9.4% | 6.7% | 0.10 |
| SIS | 6,044 | 41.3 | 8.0% | 5.8% | 0.56 |
| CMRGREEN | 5,059 | 22.7 | 18.4% | 17.4% | 0.65 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Persistent zero revenue and negative operating metrics suggest the core business may be defunct or severely impaired. 2) Negative equity and reserves raise concerns about solvency and long-term viability. 3) High leverage relative to minimal assets increases financial vulnerability. 4) Lack of management guidance or operational updates creates significant information asymmetry for investors.
🧠 Analyst's Read
The company is effectively non-operational with no visible path to revenue generation or value creation. Investors should monitor for any future business restart announcements or capital restructuring events, but current fundamentals and disclosures offer no basis for optimism. The absence of operational activity and financial improvement demands extreme caution.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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