MMP Industries Limited, originally incorporated as "Semi Conductor Packages Private Limited" on October 8, 1973, later renamed "Maharashtra Metal Powders Private Limited" on October 18, 1984, and finally becoming "MMP Industries Limited" on June 19, 2012, is a prominent India-based company. It is primarily engaged in the manufacturing, selling, distribution, and trading of a comprehensive range of aluminum products, including Aluminum Powder, Aluminum Pyro and Flake Powder, Aluminum Paste, Aluminum Conductors, and Aluminum Foils.
Based in Maharashtra, India, the company operates its manufacturing units in and around Nagpur, establishing itself as a significant player in the aluminum products sector. MMP Industries serves diverse industries such as construction (AAC Blocks), mining (Aluminised slurry explosives), agriculture (pesticides), defense (ammunition), fire crackers, automotive, decorative and industrial paints, and power transmission.
MMP Industries Limited categorizes its business into distinct segments:
- Aluminum Powder and Pastes: This segment includes aluminum powder (pyro, flake, and atomized) and aluminum pastes. These products find applications in construction (AAC Blocks), mining, agriculture (pesticides), defense (ammunition), firecrackers, and various paint formulations (automotive, decorative, industrial).
- Aluminum Conductor: Products in this segment are crucial for the power sector, primarily consumed for laying overhead transmission lines.
- Aluminum Foil: This segment encompasses the manufacturing of aluminum foils, serving various packaging and industrial needs.
- Others: This diversified segment includes products such as manganese oxide/dioxide, washers, circlips, and coals.
A key strength of MMP Industries lies in its long-standing association with Toyo Aluminium K.K. Japan, which provides crucial technological support. This partnership has evolved into a joint venture named Toyal MMP India Private Limited, established for the manufacturing of specialty aluminum pastes. MMP Industries holds a 26% shareholding in this JV Company, which commenced commercial production in February 2018, further solidifying the company's technological edge and product innovation capabilities. The company also had an earlier technical collaboration with A. Van Lerberghenv, Belgium (now AVL Metal Powders nv) for pyrotechnic aluminum powders.
The company has demonstrated remarkable growth in its manufacturing capabilities since its inception. Starting with a capacity of 300 MTPA for pyrotechnic aluminum powders in 1983, the current capacity stands at 7,860 MTPA for pyro and flake aluminum powders. Additionally, it boasts an Atomized powder capacity of 7,200 MTPA (including captive consumption) and an aluminum paste capacity of 1,500 MTPA. This expansion underscores its commitment to meeting growing market demand and enhancing operational scale.
- Market Capitalization: ₹724 Crore
- Current Stock Price: ₹285
- PE Ratio: 16.28
- PB Ratio: 2.03
- Q4 FY2023-24 (Consolidated): Reported a profit of ₹8.79 crore on a total income of ₹168.75 crore.
- Full Year FY2023-24 (Consolidated): Posted a profit of ₹10.85 crore on a total income of ₹170.81 crore.
- Trailing 12-Month Operating Revenue: ₹628.90 Crore.
- Annual Revenue Growth: 8%
- Pre-tax Margin: 6%
- Return on Equity (ROE): 10%
- 52-Week High: ₹457.90
- 52-Week Low: ₹218.00
- Last 3 Years Performance: Share price moved up by 76.93% on NSE.
As of December 2024, the promoter holding in MMP Industries Ltd stood at 74.48%, maintaining the same level as March 2024. Arun Raghuvirraj Bhandari serves as the Chairman, and is also the company secretary, ensuring a strong and consistent leadership structure.
The company experienced a significant operational challenge on April 11, 2025, when an explosion followed by a fire occurred at its Aluminium Powder division located at the Umred manufacturing unit in Nagpur, Maharashtra. The incident, which happened at approximately 6:45 p.m., tragically resulted in the death of five workers. MMP Industries has stated that the estimated losses related to inventory and plant machinery are fully covered by insurance. Operations in other parts of the facility are slated to resume upon completion of all statutory formalities.
MMP Industries Limited has a notable international presence, exporting its specialized aluminum products to countries across Europe, the Middle-East, and Africa. This global reach underscores the company's ability to compete in international markets and contributes to diversifying its revenue streams across different geographical regions.
- Return on Equity (ROE): Low at 11.1% over the last 3 years.
- Dividend Payout: Low at 12.3% of profits over the last 3 years.
- Debt to Equity Ratio: A reasonable 5%, signaling a healthy balance sheet and low financial leverage.
MMP Industries operates in a specialized segment of the aluminum industry, characterized by strong technological partnerships and a diversified product portfolio that serves critical industrial applications. The company's strategic focus on high-value aluminum products and its established manufacturing capabilities position it favorably within the growing Indian industrial sector.
