29 Sept 2026, 4:08 pmAGM/EGM
Voting Results And Scrutinizer''s Report Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026
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Minal Industries Ltd operates in Trading & Distributors within the Industrials sector.
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₹ crore, by fiscal year
% of revenue, by fiscal year
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Reported profit and loss, balance sheet, cash flow and growth history.
Annual operating, return, leverage and working-capital ratios.
Current futures and options contracts with compact option-chain pages.
Mutual-fund schemes that disclosed a holding in the company.
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Consolidated figures
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Margins | |||||
| Gross margin % | 26.9% | 43.1% | 44.4% | 40.3% | 33.8% |
| EBITDA margin % | -38.6% | -0.6% | -0.9% | 2.1% | 7.6% |
| EBIT margin % | -44% | -3.2% | -3.5% | 0.7% | 6.5% |
| PAT margin % | -34.1% | 2.3% | -1.2% | -5.5% | 8.2% |
| Working capital | |||||
| Receivable days | 157 | 158 | 126 | 140 | 172 |
| Inventory days | 2,150 | 1,117 | 1,529 | 1,057 | 554 |
| Payable days | 81 | 32 | 202 | 249 | 115 |
| NWC days | 2,226 | 1,244 | 1,453 | 949 | 610 |
| Leverage | |||||
| Current ratio | 3.21 | 6.22 | 3.57 | 4.49 | 5.88 |
| Debt to EBITDA | — | — | — | 15.36 | 1.94 |
| Debt to equity | 0.36 | 0.15 | 0.2 | 0.23 | 0.14 |
| Interest coverage | -18.1 | 3.4 | 0.8 | 13.1 | 25.6 |
| Asset turnover | 0.17 | 0.39 | 0.32 | 0.42 | 0.6 |
| Return ratios | |||||
| Return on assets % | -5.7% | 0.9% | -0.4% | -2.3% | 4.9% |
| Return on capital employed % | -7.9% | 2.3% | 2.2% | 3.9% | 6% |
| Return on equity % | -9% | 1.2% | -0.6% | -3.9% | 7.9% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.
No scheme among the 32 fund houses on record reported a position in Minal Industries Ltd. Portfolios are published monthly by each AMC; coverage is still partial.
| Company | Mkt Cap | EV | Revenue | EBITDA | OPM | PAT | NPM | ROCE | ROE | WC Days |
|---|---|---|---|---|---|---|---|---|---|---|
| Redington LimitedREDINGTONREDINGTON | ₹31,112 Cr | ₹33,749 Cr | ₹1,28,133 Cr | ₹2,537 Cr | 1.9% | ₹1,701 Cr | 1.1% | 21.7% | 15.8% | 34 |
| Mmtc LimitedMMTCMMTC | ₹8,444 Cr | ₹8,444 Cr | ₹3 Cr | ₹-179 Cr | — | ₹447 Cr | — | -0.5% | 20.3% | -2,38,864 |
| Mstc LimitedMSTCLTDMSTCLTD | ₹4,969 Cr | ₹5,114 Cr | ₹386 Cr | ₹236 Cr | 60.6% | ₹234 Cr | 59.1% | 34.9% | 26.6% | -92 |
| Bn Agrochem LimitedBNAGROCHEMBNAGROCHEM | ₹2,228 Cr | ₹2,310 Cr | ₹299 Cr | ₹-37 Cr | -12.5% | ₹20 Cr | 6.6% | 12% | 8.5% | 130 |
| Creative Newtech LimitedCNLCNL | ₹1,619 Cr | ₹1,943 Cr | ₹2,783 Cr | ₹99 Cr | 3.2% | ₹74 Cr | 2.6% | 29.2% | 21.4% | 75 |
| Pervasive Commodities LtdPERVASIVEPERVASIVE | ₹1,090 Cr | ₹1,090 Cr | ₹43 Cr | ₹-0 Cr | -1.1% | ₹-0 Cr | -0.1% | 0% | -0.1% | 548 |
| RRP Defense LtdRRPDEFENSERRPDEFENSE | ₹842 Cr | ₹844 Cr | ₹12 Cr | ₹-1 Cr | -8.4% | ₹-1 Cr | -8.2% | -13.7% | -13.7% | -15 |
| The Yamuna Syndicate LtdYSLYSL | ₹779 Cr | ₹779 Cr | ₹69 Cr | ₹2 Cr | 2.2% | ₹52 Cr | 75.3% | 0.3% | 4% | 60 |
| The State Trading Corporation Of India LimitedSTCINDIASTCINDIA | ₹636 Cr | ₹1,811 Cr | ₹0 Cr | ₹-46 Cr | — | ₹21 Cr | — | — | — | — |
| SMT Engineering LtdSMTELSMTEL | ₹598 Cr | ₹679 Cr | ₹162 Cr | ₹41 Cr | 25% | ₹23 Cr | 14.2% | 33.2% | 25.2% | 395 |
| Bijoy Hans LtdARVAYAARVAYA | ₹576 Cr | ₹579 Cr | ₹0 Cr | ₹-1 Cr | — | ₹0 Cr | — | -3.9% | -3.9% | — |
| Riddhi Siddhi Gluco Biols LtdRIDDHIRIDDHI | ₹505 Cr | ₹787 Cr | ₹236 Cr | ₹-12 Cr | -5.2% | ₹61 Cr | -5.2% | 2.8% | -0.8% | 65 |
| Holder (%) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 59.74% | 59.42% | 40.63% | 40.63% | 40.63% | 40.63% | 40.63% | 40.63% | 40.63% | 40.63% | 40.78% | 40.79% | |
| FII | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DII | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 40.26% | 40.58% | 59.37% | 59.37% | 59.37% | 59.37% | 59.37% | 59.37% | 59.37% | 59.37% | 59.22% | 59.21% | |
| No. of shareholders | — | — | — | — | — | — | — | — | 14,985 | 14,886 | 14,649 | 14,600 |
Promoter holding down 18.95 percentage points since Sep 2023.
Current officeholders as filed with BSE. A person holding two offices is listed once per office.
Documents link to external sources (exchange filings, company investor pages).
Voting Results And Scrutinizer''s Report Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
Proceedings Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026
Proceedings Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026
Shareholder Meeting / Postal Ballot-Outcome of AGM
Intimation Relating To Demise Of Promoter Pursuant To Regulation 30 And 31(A)(6)(C) Of SEBI LODR, 2015
Announcement under Regulation 30 (LODR)-Demise
Announcement under Regulation 30 (LODR)-Newspaper Publication
| Date | Category | Subject | Filing |
|---|---|---|---|
| 29 Sept 2026, 4:08 pm | AGM/EGM AGM | Voting Results And Scrutinizer''s Report Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026 | |
| 29 Sept 2026, 4:06 pm | AGM/EGM AGM | Shareholder Meeting / Postal Ballot-Scrutinizer''s Report |
| 29 Sept 2026, 1:04 pm | Company Update General | Proceedings Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026 |
| 29 Sept 2026, 1:02 pm | AGM/EGM AGM | Proceedings Of The 38Th Annual General Meeting Of The Company Held On Tuesday, 29Th September, 2026 |
| 29 Sept 2026, 12:57 pm | AGM/EGM AGM | Shareholder Meeting / Postal Ballot-Outcome of AGM |
| 21 Sept 2026, 6:16 pm | Company Update General | Intimation Relating To Demise Of Promoter Pursuant To Regulation 30 And 31(A)(6)(C) Of SEBI LODR, 2015 |
| 21 Sept 2026, 6:09 pm | Company Update Demise | Announcement under Regulation 30 (LODR)-Demise |
| 4 Sept 2026, 2:48 pm | Company Update Newspaper Publication | Announcement under Regulation 30 (LODR)-Newspaper Publication |
Consolidated figures · ₹ crore
| ₹ Cr | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| 14 | 28 | 27 | 38 | 51 | |
| COGS | 10 | 16 | 15 | 23 | 34 |
| Gross profit | 4 | 12 | 12 | 15 | 17 |
| 9 | 12 | 12 | 14 | 13 | |
| Operating profit (EBITDA) | -5 | -0 | -0 | 1 | 4 |
| OPM % | -38.6% | -0.6% | -0.9% | 2.1% | 7.6% |
| Depreciation | 1 | 1 | 1 | 1 | 1 |
| Interest | 0 | 0 | 2 | 0 | 0 |
| 1 | 2 | 2 | -2 | 1 | |
| Profit before tax | -5 | 1 | -0 | -2 | 4 |
| Tax | -0 | 0 | 0 | 0 | -0 |
| Tax % | -7.2% | 33.3% | 6.9% | 23.1% | -0.7% |
| -5 | 1 | -0 | -2 | 4 | |
| PAT margin % | -34.1% | 2.3% | -1.2% | -5.5% | 8.2% |
| EPS (₹) | — | — | — | — | — |
| EPS adjusted (₹) | -0.3 | 0 | -0 | -0.1 | 0.2 |
| Annual report | Annual report for Mar 2021 | Annual report for Mar 2022 | Annual report for Mar 2023 | Annual report for Mar 2024 | Annual report for Mar 2025 |
| ₹ Cr | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Equity capital | 38 | 38 | 38 | 38 | 38 |
| Reserves | 15 | 15 | 16 | 15 | 15 |
| Minority interest | 7 | 7 | 7 | 8 | 10 |
| 19 | 8 | 11 | 12 | 7 | |
| 4 | 4 | 12 | 18 | 14 | |
| Total equity & liabilities | 83 | 73 | 84 | 91 | 85 |
| 5 | 4 | 4 | 4 | 4 | |
| CWIP | — | — | — | — | — |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 78 | 68 | 80 | 87 | 81 | |
| Total assets | 83 | 73 | 84 | 91 | 85 |
| ₹ Cr | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| 5 | -17 | -2 | -1 | 4 | |
| -6 | 30 | 1 | 1 | 0 | |
| -0 | -11 | 1 | 0 | -4 | |
| Net cash flow | -1 | 1 | -0 | -0 | 1 |
| Free cash flow | 5 | -18 | -3 | -1 | 4 |
| CFO / Operating profit % | — | — | — | -129.6% | 104.1% |