Mukand Limited (500460) Fair Value & Analysis
Basic Materials · IN · Market cap ₹7.0B
Fair value as of: Aug 2, 2026
From 23 valuation models · updated 6 days ago
Share price +6.5% over the past month.
Below-average quality, and screening another 43% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹114.04). The favourable scenario is already priced in.
- Solid but not exceptional quality (45/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹49.05 to ₹114.04) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 2, 2026.
How to read this chart
60‑month range ₹52.49 – ₹200.47 · fair‑value band ₹49.05 – ₹114.04 · the ₹141.25 price screens above the ₹80.48 fair value. Dashed = 300-day average. As of Aug 2, 2026.
Analysis
Mukand Limited (500460) currently trades at ₹141.25, while our model-based Fair Value estimate is ₹80.48, implying the stock looks roughly 43.0% overvalued today. We read business quality at 45/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Mukand Limited generated revenue of ₹24.2B at a net margin of -14.8%. Revenue grew 3.6% year over year. It earns a return on equity of -55.6%. Fundamentals as of Aug 2, 2026
Our scenario range runs from ₹49.05 (bear case) to ₹114.04 (bull case); at ₹141.25, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 8% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at -47% fair-value upside, at -43%, 500460 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 23 models by family
Widest divergence: DCF Models (₹117.52) versus Dividend Discount (₹24.96). Highest evidence: Growth DCF (80).
Key figures & financial health
Figures from reported company fundamentals · as of Aug 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 47
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Mukand Limited manufactures and sells alloy and stainless steel products in India and internationally. It operates through Steel, Industrial Machinery and Engineering Contracts, and Others segments. The Steel segment offers billets, blooms, rounds, wire rods, bars, rods and sections, bright bars, and wires of special and alloy steel and stainless steel.
Full company description
Mukand Limited manufactures and sells alloy and stainless steel products in India and internationally. It operates through Steel, Industrial Machinery and Engineering Contracts, and Others segments. The Steel segment offers billets, blooms, rounds, wire rods, bars, rods and sections, bright bars, and wires of special and alloy steel and stainless steel. The Industrial Machinery and Engineering Contracts segment provides EOT and gantry cranes, port and shipyard cranes, bulk material handling equipment, steel structural, processing plant and equipment, etc. for ferrous and non-ferrous industries, as well as rolling mills, power, nuclear, and defense applications; and engineering services. The Others segment in involved in road construction, property development, and non-banking financial activities. It also exports its products. The company was formerly known as Mukand Iron & Steel Works Limited and changed its name to Mukand Limited in March 1989. Mukand Limited was incorporated in 1937 and is based in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Mukand Limited reported revenue of ₹48.9B in FY2025 versus ₹27.3B in FY2021, a compound +15.7%/yr. Reported net income was ₹759M in FY2025.
500460 screens 43% overvalued. Compare with Steel Authority of India Limited →
Peer Group
Materials · 3467 stocks
How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Steel & Iron” was too small, so the broader sector is used.)
Valuation Multiples vs Materials median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Steel & Iron stocks, each showing price versus our Fair Value estimate (as of Aug 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Steel Authority of India Limited 500113 | ₹169.00 | ₹89.25 | -47% |
| Steelcast Limited 513517 | ₹310.20 | ₹443.98 | +43% |
| Uni Abex Alloy Products Limited 504605 | ₹5,470 | ₹3,296 | -40% |
| Panchmahal Steel Limited 513511 | ₹290.00 | ₹35.96 | -88% |
| Bhagwati Autocast Limited 504646 | ₹507.80 | ₹767.76 | +51% |
| Facor Alloys Limited 532656 | ₹3.43 | ₹1.30 | -62% |
| Rathi Bars Limited 532918 | ₹20.71 | ₹5.76 | -72% |
| Rishabh Digha Steel And Allied Products Limited 531539 | ₹34.00 | ₹7.61 | -78% |
| Cosmo Ferrites Limited 523100 | ₹209.10 | ₹25.83 | -88% |
| Shree Steel Wire Ropes Limited 513488 | ₹20.23 | ₹16.82 | -17% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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