Mantra Capital Limited (511577)
🎯 Key Takeaways
- Mantra Capital Limited is in a distressed phase, marked by persistent losses, negative returns, and deteriorating operational efficiency. The company has reported consecutive quarterly losses with widening operational deficits, signaling significant financial stress.
- Revenue grew 4.5% QoQ to ₹6 in Q1FY27.
- ⚠️ 1) Chronic operational losses with no signs of margin improvement or revenue recovery. 2) Rising debt burden amid stagnant asset base, raising solvenc
- Market Cap
- ₹64
- P/B Ratio
- 2.42
- ROE
- -56.6%
- ROCE
- -5.3%
- Debt/Equity
- 3.42
- Promoter
- 67.1%
📖 The Story
Mantra Capital Limited is in a distressed phase, marked by persistent losses, negative returns, and deteriorating operational efficiency. The company has reported consecutive quarterly losses with widening operational deficits, signaling significant financial stress. Its negative ROE and ROCE underscore the severity of underperformance, while the balance sheet reveals rising leverage amid stagnant asset growth.
📰 What's Happening
Management has not announced any new strategic initiatives or operational expansions in recent filings. The company continues to operate with minimal revenue, reporting ₹6 crore in revenue for both June and March 2026 quarters, with no improvement in cost structure. There has been no disclosure of new contracts, partnerships, or business diversification. The absence of FII or DII holdings suggests limited institutional confidence or visibility.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|
| Revenue | 3 | 5 | 6 | 6 |
| Operating Profit | -3 | -3 | -5 | -4 |
| OPM % | -94.2% | -64.1% | -87.1% | -67.3% |
| Net Profit | -3 | -3 | -5 | -4 |
| EPS | ₹-1.00 | ₹-0.95 | ₹-1.45 | ₹-1.20 |
Revenue has remained flat at ₹3–6 crore over the past four quarters, with no meaningful growth or stabilization. Operating losses have persisted, with OPM consistently above -60%, indicating structural unprofitability. Net losses have widened slightly in absolute terms despite minor revenue increases, reflecting inadequate cost control and no path to breakeven evident in the filings.
🔮 Management Outlook & What's Next
There is no forward guidance or strategic outlook provided in the latest regulatory filings. Management has not addressed future revenue targets, cost rationalization plans, or timelines for profitability. The lack of commentary on business recovery or restructuring suggests either operational silence or absence of a clear recovery strategy.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 32 | 26 | 32 | 32 |
| Reserves | 8 | 10 | -5 | 2 |
| Borrowings | 5 | 0 | 91 | 45 |
| Total Liabilities | 48 | 37 | 121 | 81 |
| Fixed Assets | 1 | 1 | 1 | 1 |
| Investments | 13 | 28 | 13 | 11 |
| Total Assets | 48 | 37 | 121 | 81 |
The balance sheet shows a sharp increase in borrowings from ₹5 crore in March 2025 to ₹91 crore by March 2026, while equity remains flat at ₹32 crore. This indicates aggressive capital raising, likely to fund ongoing operations, but with no corresponding asset growth — total assets rose only from ₹48 crore to ₹121 crore, suggesting inefficient capital deployment.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | -8 |
| Investing | -37 |
| Financing | +51 |
| Net Cash Flow | +6 |
👥 Shareholding Pattern
| Category | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|
| Promoters | 75.0% | 75.0% | 67.1% |
| FII | 0.0% | 0.0% | 0.0% |
| DII | 0.0% | 0.0% | 0.0% |
| Public | 21.1% | 20.8% | 26.0% |
| # Shareholders | 6,793 | 6,841 | 6,784 |
Promoter holding has declined from 75% to 67.08% over the last four quarters, while public shareholding has gradually increased. However, FII and DII holdings remain at 0%, indicating no institutional interest. The growing number of shareholders (6,784 to 6,841) suggests retail retailization but no foreign or qualified institutional investor participation.
⚖️ Peer Comparison — Finance
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| BAJFINANCE | 6.13 L Cr | 30.2 | 10.4% | — | 3.82 |
| BAJAJFINSV | 2.80 L Cr | 27.5 | 11.4% | — | 5.50 |
| SHRIRAMFIN | 2.30 L Cr | 17.3 | 11.5% | — | 3.80 |
| ICICIAMC | 1.59 L Cr | 31.8 | 111.5% | — | 0.00 |
| JIOFIN | 1.45 L Cr | 68.4 | 2.3% | — | 0.17 |
| CHOLAFIN | 1.40 L Cr | 24.2 | 9.3% | — | 6.93 |
| TATACAP | 1.39 L Cr | 25.4 | 8.4% | — | 5.28 |
| BAJAJHLDNG | 1.21 L Cr | 13.6 | 12.4% | — | 0.00 |
| MUTHOOTFIN | 1.11 L Cr | 9.8 | 14.4% | — | 3.88 |
| PFC | 1.09 L Cr | 4.2 | 9.8% | — | 7.62 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1) Chronic operational losses with no signs of margin improvement or revenue recovery. 2) Rising debt burden amid stagnant asset base, raising solvency concerns. 3) Complete absence of institutional ownership, signaling lack of investor confidence. 4) Persistent negative returns on equity and capital, reflecting poor capital efficiency.
📋 Recent Filings
- 🔴 annual report2026-09-29Mantra Capital Limited revised its FY 2025-26 annual report to portrait orientation for improved readability, with no changes to financial statements …
- 🟡 voting results2026-09-29Mantra Capital Limited held its 42nd AGM on September 28, 2026 via video conferencing, with all resolutions passed via remote e-voting. The Scrutinize…
- 🟡 Board Meeting2026-09-28Mantra Capital held its 42nd AGM on September 28, 2026 via video conference, approving the audited FY2026 financial statements, reappointing director …
- 🔴 Corporate Action2026-09-24Mantra Capital converted 15 lakh warrants into equity shares on September 24, 2026, receiving [amount not verified] balance consideration, increasing …
- Announcement2026-09-23Mantra Capital Limited announced that its trading window for insider transactions will close on October 1, 2026, ahead of the unaudited financial resu…
- 🔴 Announcement2026-09-21Mantra Capital Limited announced the appointment of Prasanta Kumar Mohanty as Company Secretary and Compliance Officer effective September 21, 2026, f…
- 🔴 Announcement2026-09-09Mantra Capital Limited announced the resignation of Company Secretary and Compliance Officer Mr. Puspraj Pandey effective September 9, 2026, citing pe…
- 🔴 annual report2026-09-07Mantra Capital Limited announced the web link to access its Annual Report for FY 2025-2026 and details of the 42nd AGM scheduled for September 28, 202…
- 🟡 Board Meeting2026-09-05Mantra Capital Limited announced its 42nd Annual General Meeting scheduled for September 28, 2026 at 11:00 A.M. IST via video conferencing, with the n…
- 🔴 annual report2026-09-05Mantra Capital Limited filed its annual report for the financial year 2025-2026 with BSE on September 5, 2026, making it available on its website and …
🧠 Analyst's Read
Mantra Capital is undergoing a critical phase with no visible path to profitability or operational revival. Investors should monitor for any strategic shift, debt restructuring, or new business development that could alter the trajectory — currently, the company appears stagnant with deteriorating fundamentals.
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 2026-09-29.
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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