MPS Limited, formerly known as Macmillan India Limited, is a prominent India-based company specializing in providing platforms, content, and learning solutions for the digital world. Incorporated in 1970, the company officially changed its name to MPS Limited effective June 25, 2009. MPS serves a global clientele, including publishers, learning companies, corporate institutions, libraries, and content aggregators in India, Europe, the United States, and internationally.
The company has successfully transitioned from its roots as a traditional publishing house to a comprehensive digital solutions provider. It leverages cutting-edge technology and services to cater to the evolving needs of the global publishing industry. MPS offers robust platforms and services for content creation, full-service production, and distribution.
MPS Limited operates through three primary segments:
- Content Solutions: This segment is dedicated to creating and developing content for both print and digital delivery. It encompasses a wide range of services including content authoring/development, content production, content transformation, fulfillment, and customer support. In Q1 FY24, Content Solutions held a significant 53% revenue share, providing comprehensive content solutions from creation to delivery across all media, enhancing the competitiveness and differentiation of educational, academic, science, technical, medical, and professional publishers.
- Platform Solutions: This segment focuses on developing and implementing various software and technology services programs. The company's proprietary platforms include DigiCore, MPSTrak, mag+, THINK360, ScholarStor, ScholarlyStats, and MPSInsight. These platforms empower publishers to manage their content lifecycle efficiently and deliver enhanced digital experiences to their audiences.
- eLearning Solutions: This segment provides comprehensive learning solutions, including custom e-learning development, gamification, interactive learning websites, and advanced technologies like VR/AR. It also offers micro and mobile learning, simulations, and operates dedicated experience centers and learning platforms.
MPS Limited utilizes a suite of proprietary technology platforms that are integral to its digital services. These include:
- DigiCore: A cloud-based digital publishing platform.
- MPSTrak: A cloud-based workflow and content management platform designed for books, journals, reference works, and media.
- mag+: A platform that facilitates content publication to mobile applications.
- THINK360: An end-to-end order management and delivery platform.
- ScholarStor: A content hosting and delivery platform specifically for publishers.
- SCHOLARLYStats: A cloud-based platform offering usage analytics for librarians and institutions.
- MPSInsight: A cloud-based usage analytics platform designed to empower publishers.
MPS maintains a strong international footprint with operations across multiple continents. The company's production facilities are strategically located in Chennai, Noida, Dehradun, Gurugram, and Bengaluru. It also has editorial and marketing offices in the United States. This extensive global network allows MPS to effectively serve its international clients while leveraging the cost advantages of its Indian operations.
As of July 2025, MPS Limited has a Market Capitalization of ₹4,817 Crore, showing a 37.3% increase in the last year. On a trailing twelve-month basis, the company reports a Revenue of ₹727 Crore and a Profit of ₹149 Crore. MPS (NSE) has an operating revenue of Rs. 726.89 Cr. on a trailing 12-month basis. The company demonstrates an outstanding annual revenue growth of 33%, a great pre-tax margin of 28%, and an exceptional Return on Equity (ROE) of 31%.
For Q1 FY25, MPS recorded revenue of INR 180 crores on an FX-adjusted basis, representing a 36.3% year-on-year growth. While there was a PBT decline in this last quarter, it is expected to be a temporary situation. Revenue in the Content Solutions business saw a 32% growth in Q1 FY '25 compared to the previous year.
For the quarter ended March 2025, on a consolidated basis, MPS Ltd reported a profit of Rs 47.07 crore on a total income of Rs 195.12 crore. For the full year ended 2024, MPS Ltd posted a profit of Rs 118.77 crore on a total income of Rs 545.31 crore.
- Market Capitalization: ₹4,565.2 Cr. (as of 08/07/2025)
- Stock Performance: The MPS Ltd share price has increased by 337.23% on BSE over the last 3 years.
- 52-Week Range: The 52-week high share price for MPS Ltd is ₹3,071.85, and the 52-week low share price is ₹1,531.55.
- Promoter Holding: 68.3% (ADI BPO SERVICES LIMITED)
- Debt Position: The company is debt-free, possessing a strong balance sheet that supports stable earnings growth across various business cycles.
MPS has been actively pursuing strategic acquisitions to enhance its capabilities and broaden its market reach. Key acquisitions include:
- Magplus: Acquired in July 2016, becoming a wholly-owned subsidiary.
- Think Subscription: Acquired on April 1, 2017.
- Tata Interactive Systems (eLearning business): Acquired in June 2018 through its wholly-owned subsidiary, MPS Interactive Systems Limited.
- HighWire business: Acquired in 2021 through its US branch and a newly incorporated wholly-owned subsidiary, HighWire North America LLC, Delaware USA, via a merger.
Recent developments indicate a positive shift in the company's customer and revenue profile. The top 10 customers now account for less than 45% of revenue, significantly reducing customer concentration compared to 2010. The quality of revenue is also improving, with platforms contributing 30% to consolidated revenue. Furthermore, the Day Sales Outstanding (DSO) has improved to 55 days, reflecting enhanced collection efficiency.
The Platform business is experiencing a surge in new opportunities for the first time since the HighWire acquisition in 2020. The research community has shown a positive perception of MPS, which is highly encouraging. HighWire and MPS are recognized as a strong independent choice, especially following the acquisition of two larger competitors by publishers.
The key management personnel include Rahul Arora as Chairman and Raman Sapra as Company Secretary for MPS Ltd. The promoter of MPS Ltd is ADI BPO SERVICES LIMITED, which holds 68.34% of the total equity.
MPS Limited continues to solidify its position as a leading provider of digital content solutions and publishing platforms. Its strong financial performance, strategic acquisitions, and robust technology portfolio are key drivers supporting its sustained growth trajectory within the global publishing industry.
