Manugraph India Limited (MANUGRAPH) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Manugraph India Limited ₹14.50, price ₹16.46, upside -11.9%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹9.76 – ₹33.20 · fair‑value band ₹12.52 – ₹19.73 · the ₹16.46 price screens above the ₹14.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 27, 2026.
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Manugraph India Limited engages in the manufacture and sale of printing machines in India and internationally. It provides newspaper web, folder, and packaging and converting machines, as well as manufactures engineering components. The company also exports its products. In addition, it offers after-sales services and installation services.
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Manugraph India Limited engages in the manufacture and sale of printing machines in India and internationally. It provides newspaper web, folder, and packaging and converting machines, as well as manufactures engineering components. The company also exports its products. In addition, it offers after-sales services and installation services. The company was formerly known as Manugraph Industries Limited. Manugraph India Limited was incorporated in 1972 and is based in Mumbai, India.
Stock analysis
Manugraph India Limited (MANUGRAPH) currently trades at ₹16.46, while our model-based Fair Value estimate is ₹14.50, 11.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of ₹27.69 per share, and 12 of the 23 models we run sit above the ₹16.46 price.
Bear case: the Growth DCF group reads lowest at ₹3.97, and 11 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹12.52 (bear) to ₹19.73 (bull), the price of ₹16.46 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Manugraph India Limited reported revenue of ₹886M in FY2026 versus ₹454M in FY2022, a compound +18.2%/yr. Reported net income was ₹49.5M in FY2026.
Key figures
Market cap ₹500M (≈ $5.2M) · P/E ratio 9.5 · P/S ratio 0.53 · EPS (TTM) ₹1.63 · Dividend yield 0.0% · Net margin 5.6% · Return on equity 8.9% · Return on assets (EBIT) −7.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 69% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −49% fair-value upside, at −12%, MANUGRAPH screens cheaper than that median.
Fair Value models
Bear ₹12.52Fair Value ₹14.50Bull ₹19.73
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.8262 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+49.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.6%
Start year 2021 (pandemic). Over 10 years: −11.9% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.8%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−57.4% (2021) → 7.0% (2026)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+65.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +59.3% a year for the price.
Compare Manugraph India Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Industrial Machinery · 791 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−11.9% · Above median
Profitability
Return on equity (TTM)8.9% · Above median
Return on assets2.8% · Above median
Net margin (TTM)5.6% · Below median
Operating margin (TTM)1.8% · Below median
Growth and dividend
Revenue growth−10.2% · Bottom 25%
Dividend yield (TTM)0.0% · Bottom 25%
Valuation Multiplesvs Specialty Industrial Machinery median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Manugraph India Limited Fair Value". https://www.fairvalue-calculator.com/stock/MANUGRAPH
Frequently asked questions
Is Manugraph India Limited (MANUGRAPH) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹14.50 versus a price of ₹16.46, about −12% upside (overvalued).
What is the fair value of MANUGRAPH?
Our model-based fair value for Manugraph India Limited is ₹14.50 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹16.46.
What is the quality score of MANUGRAPH?
Manugraph India Limited has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Manugraph India Limited (MANUGRAPH)?
Our model-based price target is the fair value of ₹14.50 (as of Sep 27, 2026) from 23 valuation models. Cautious scenario ₹12.52, optimistic scenario ₹19.73. It is a calculation from audited fundamentals, not an analyst target.
What is the Manugraph India Limited stock forecast for 2026?
Our models put fair value at ₹14.50, about −12% upside versus a price of ₹16.46 (overvalued). Cautious scenario ₹12.52, optimistic scenario ₹19.73. The calculation is refreshed regularly with new filings.
What is the revenue of Manugraph India Limited (MANUGRAPH)?
Manugraph India Limited reported trailing-twelve-month revenue of about ₹886M (latest available figure, as of Sep 27, 2026).
Does Manugraph India Limited pay a dividend?
Manugraph India Limited currently shows a dividend yield of about 0.05% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Manugraph India Limited (MANUGRAPH)?
For today's price to be fair in a discounted-cash-flow model, Manugraph India Limited would have to grow free cash flow by +65.8 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.6 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of MANUGRAPH use?
Our models discount Manugraph India Limited at 10.9 %: a base by market capitalisation (nano), damped by beta 0.25, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Manugraph India Limited that is +65.8 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Manugraph India Limited (MANUGRAPH) delivered so far?
Over the past 5 years revenue at Manugraph India Limited grew +24.6 % a year. The price currently implies +65.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Manugraph India Limited (MANUGRAPH) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Manugraph India Limited (+65.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Manugraph India Limited (MANUGRAPH)?
The free-cash-flow yield on the price is 0.40 %: that much free cash flow Manugraph India Limited produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Manugraph India Limited (MANUGRAPH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Manugraph India Limited it is ₹14.50 per share (as of Sep 27, 2026), against a price of ₹16.46. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Manugraph India Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, MANUGRAPH trades above its calculated fair value: price ₹16.46, fair value ₹14.50, a gap of about −12% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MANUGRAPH?
No. The price is what the market pays today (₹16.46); the fair value is what the company's own numbers justify (₹14.50). For Manugraph India Limited the two are ₹1.96 per share apart. That gap is exactly why we show both numbers side by side.
How much is Manugraph India Limited worth?
The market values Manugraph India Limited at about ₹500M (market capitalisation, as of Sep 27, 2026). Per share that is ₹16.46; our models calculate a fair value of ₹14.50 per share.
What do the bullish and bearish scenarios say about MANUGRAPH?
Our models span a range for Manugraph India Limited: cautious scenario ₹12.52, base ₹14.50, optimistic ₹19.73 per share (as of Sep 27, 2026, price ₹16.46). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MANUGRAPH?
Manugraph India Limited trades at a price-to-earnings ratio of 9.5 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹14.50 is built from several models across several years. Other multiples: P/B 0.9, P/S 0.6, EV/EBITDA 6.7.
How solid is the balance sheet of Manugraph India Limited (MANUGRAPH)?
Balance-sheet figures for Manugraph India Limited (as of Sep 27, 2026): return on equity 8.9%. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is MANUGRAPH from its 52-week high?
Manugraph India Limited trades at ₹16.46, about 30% below its 52-week high of ₹23.52 and 69% above the low of ₹9.76 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹14.50 is for.
Which stocks are comparable to Manugraph India Limited?
From the same area (Industrials) we also value GE Vernova Inc, SIE, Eaton Corporation, Parker-Hannifin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Manugraph India Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹16.46, calculated fair value ₹14.50 (−12%), Quality Score 59/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MANUGRAPH calculated?
We run Manugraph India Limited through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹14.50, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Manugraph India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Manugraph India Limited (MANUGRAPH)?
The closing price on Oct 1, 2026 was ₹16.46. Our model-based fair value is ₹14.50, about −12% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Manugraph India Limited right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Key figures of Manugraph India Limited
How large is the market capitalisation of Manugraph India Limited (MANUGRAPH)?
The market capitalisation of Manugraph India Limited is ₹500M (≈ $5.2M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Manugraph India Limited (MANUGRAPH)?
The price-to-sales ratio of Manugraph India Limited is 0.53 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Manugraph India Limited (MANUGRAPH)?
Earnings per share at Manugraph India Limited are ₹1.63 (price ÷ EPS = P/E 9.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Manugraph India Limited (MANUGRAPH)?
The dividend yield of Manugraph India Limited is 0.0% (payout 0.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Manugraph India Limited (MANUGRAPH)?
The net margin of Manugraph India Limited is 5.6% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Manugraph India Limited (MANUGRAPH)?
The return on equity (ROE) of Manugraph India Limited is 8.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Manugraph India Limited (MANUGRAPH)?
On an EBIT basis the return on assets of Manugraph India Limited is −7.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Manugraph India Limited (MANUGRAPH)?
The operating margin of Manugraph India Limited is 1.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Manugraph India Limited (MANUGRAPH)?
Revenue at Manugraph India Limited is growing −10.2% versus a year earlier (3y avg +3.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Manugraph India Limited (MANUGRAPH) carry?
The net debt of Manugraph India Limited is ₹3.7M (fiscal year 2026, ≈ 1.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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