MIL Industries Unlisted Share Price
BUY
₹270.00
SELL
₹325.00
About MIL Industries Unlisted Share Price
About MIL Industries Limited
MIL Industries Limited is a pioneer in the field of corrosion and abrasion-resistant rubber linings, serving industries like chemicals, fertilizers, and mining. Established through technical collaborations with France’s Societe Chimique de Gerland and later OHJI Rubber & Chemicals Co. Japan, MIL introduced Cold Bond Rubber Lining in India. With an estimated 40% market share, the company is a key B2B supplier to leading industrial sectors.
Business Divisions
A. Rubber Linings & Products
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MILGERLAN Rubber Linings: Durable linings for tanks, pipelines, and vessels.
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MIL-O-FLEX Rubber Products: Expansion joints, gaskets, hoses, bellows, and more.
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Granulator Panels & Sheets: Custom rubber solutions for mining and phosphatic industries.
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Ceramic Pulley Lagging Sheets: Cold bonding sheets with CN layers for conveyor systems.
B. Engineering Services
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Chemical Plant Equipment: Electrolytic cells, brine purification, caustic soda systems.
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Environmental Solutions: Air pollution control (MILAIRCLEN), wastewater treatment, solvent recovery.
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System Integration: Custom-engineered plant setups for various industrial applications.
C. Manufacturing Units
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Ambattur, Chennai: HQ and main plant with R&D and fabrication capacity.
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Gummidipoondi, Tamil Nadu: Advanced facility for PTFE products in collaboration with UK’s Fluorocarbon Ltd.
Financial Highlights (FY 2022–2024)
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Revenue Growth: Increased steadily from ₹3428 lakhs in FY22 to ₹3833 lakhs in FY24.
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Rising Gross Margins: Improved from 61.64% in FY22 to a robust 70.21% in FY24.
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EBITDA Jump: EBITDA rose from ₹479 lakhs (FY22) to ₹739 lakhs (FY24), showing higher operational efficiency.
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PAT More Than Doubled: Net Profit After Tax grew from ₹239 lakhs in FY22 to ₹533 lakhs in FY24.
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EPS Surge: Earnings per Share nearly doubled from ₹7.59 (FY22) to ₹16.92 (FY24).
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Low Debt: Borrowings decreased significantly to ₹57 lakhs in FY24, improving financial stability.
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Strong Reserves: Reserves rose to ₹2714 lakhs in FY24, up from ₹2178 lakhs in FY23, showing retained earnings strength.
Pros
- Dominant Market Position: Holds 40% market share in India’s rubber lining sector.
- Diversified Product Portfolio: Serves chemical, fertilizer, mining, and even aerospace sectors.
- Strong Financials: Consistent growth in PAT, EPS, and reserves with minimal debt
Cons
- Unlisted Nature: Limited liquidity and transparency compared to listed peers.
- Raw Material Dependency: Vulnerable to fluctuations in rubber and polymer prices.
- Sector-Specific Demand: Heavy reliance on industrial capex cycles for growth.
