Mapro Industries Ltd (509762)
🎯 Key Takeaways
- Mapro Industries Ltd appears to be in a dormant or non-operational phase, with no revenue or profit generated in recent quarters despite a high P/E ratio of 67.3 and a low ROE of 1.
- Revenue declined 51.3% QoQ to ₹0 in Q1FY27.
- ⚠️ The primary risk is the complete absence of revenue-generating operations, which raises concerns about the company's viability and long-term sustainab
📖 The Story
Mapro Industries Ltd appears to be in a dormant or non-operational phase, with no revenue or profit generated in recent quarters despite a high P/E ratio of 67.3 and a low ROE of 1.8%. The company maintains a debt-free balance sheet but shows no signs of active business operations, raising questions about its current strategic posture and capital utilization.
📰 What's Happening
The most recent filing from 1 September 2026 confirms a board meeting scheduled for 5 September 2026 to finalize AGM details and appoint a scrutinizer, with no mention of operational updates or strategic initiatives. This procedural update follows a series of similar filings over the past year with no substantive business developments disclosed. There has been no new project announcement, capacity expansion, or revenue-generating activity reported in the last three quarters.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 0 | 0 | 1 | 0 |
| Operating Profit | 0 | 0 | -0 | 0 |
| OPM % | 52.6% | 68.3% | -10.5% | 70.3% |
| Net Profit | 0 | 0 | -0 | 0 |
| EPS | ₹0.12 | ₹0.33 | ₹-0.02 | ₹0.31 |
The company reported zero revenue and operating income across all recent quarters, with profitability metrics showing extreme volatility — swinging from a 70.3% OPM in June 2026 to a -10.5% OPM in March 2026, though these figures are based on negligible base values. EPS remains erratic, with a recent reading of ₹0.31 in June 2026 but negative earnings in the prior quarter. The financial trajectory suggests no meaningful business activity, making traditional performance analysis misleading.
🔮 Management Outlook & What's Next
There is no available forward guidance or strategic outlook from management in the latest filings. Previous disclosures have been limited to procedural updates, and no commentary on future revenue, margins, or business resumption was provided in the most recent board meeting notice. The absence of guidance indicates a lack of active operational planning or communication from leadership.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 |
| Reserves | 18 | 18 | 18 | 18 |
| Borrowings | 0 | 0 | 0 | 0 |
| Total Liabilities | 26 | 26 | 27 | 27 |
| Fixed Assets | 0 | 0 | 0 | 0 |
| Investments | 1 | 1 | 1 | 1 |
| Total Assets | 26 | 26 | 27 | 27 |
The balance sheet remains extremely lean, with total assets of ₹27 crore and no borrowings, implying minimal capital deployment. Equity and reserves have remained unchanged for over a year, suggesting no reinvestment or major financial maneuvers. The company is not investing in expansion or infrastructure, and there is no evidence of asset growth or strategic acquisitions.
💰 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 | 30.6% | 30.6% | 30.6% | 30.6% |
| FII | 0.0% | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% | 0.0% |
| Public | 29.1% | 38.1% | 46.3% | 48.8% |
| # Shareholders | 288 | 902 | 1,229 | 1,286 |
Promoter holding remains stable at 30.58% over the past year, with no signs of dilution or pledge. However, public shareholding has grown from 29.06% in Q2FY26 to 48.83% in Q1FY27, while the number of shareholders has increased from 288 to 1,286. This suggests retail investor accumulation, possibly driven by speculative interest or re-rating expectations despite the lack of fundamentals.
⚖️ Peer Comparison — Construction
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| MANINFRA | 5,016 | 23.1 | 13.0% | 9.5% | 0.03 |
| PSPPROJECT | 3,461 | 47.1 | 9.1% | 5.8% | 0.25 |
| MBEL | 1,515 | 15.6 | 29.0% | 31.5% | 0.61 |
| 508929 | 1,271 | — | 1.4% | -12.9% | 2.38 |
| BLKASHYAP | 1,256 | 2785.5 | 8.4% | 0.1% | 0.60 |
| BLAL | 689 | 300.7 | 88.2% | 204.1% | 0.00 |
| CCCL | 650 | — | 0.8% | -2.2% | 0.00 |
| 511634 | 600 | — | — | — | -1.28 |
| 544656 | 482 | — | — | — | 1.92 |
| HILINFRA | 317 | 11.9 | 22.5% | 22.8% | 0.64 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
The primary risk is the complete absence of revenue-generating operations, which raises concerns about the company's viability and long-term sustainability. There is also a lack of transparency in management communication, with no strategic updates or forward-looking statements provided. Additionally, the high P/E ratio becomes increasingly irrelevant in the absence of earnings stability or growth, signaling potential overvaluation.
🧠 Analyst's Read
Mapro Industries currently lacks active business operations and strategic clarity, making it a speculative entity rather than a fundamentally sound investment. Investors should monitor future filings for any indication of operational restart, new project approvals, or management-driven turnaround initiatives before assigning any meaningful valuation or confidence in recovery.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
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.
📡 Get AI alerts for your stocks — summarized by AI daily
Set up your AI Radar — pick stocks, get daily email summaries of new filings.
Set up AI Radar — FreeFree account · 2 AI queries/day
© 2026 StockFin.ai — AI-powered Indian stock research
About · Privacy Policy · Terms of Service · Pricing
Today's Announcements · Screener · Insights · AI Chat
Data provided by CMOTS Internet Technologies Pvt Ltd