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Swing Capital

MPS Ltd

NSE: MPSLTD BSE: 532440IT / Software

MPS is a B2B learning and platform solutions company powering education, and research for corporates. MPS has unlocked a new growth trajectory due to the combined effect of lower attention spans, rapid growth in digital consumption, and the recent advances in AI/ML.

₹1,809
52W: ₹1336 — ₹2979
PE 23.5 · Book ₹233 · +676% vs book
Market Cap₹3,095 Cr
Stock P/E23.5Price to Earnings
ROCE43.7%Return on Capital
ROE35.2%Return on Equity
Div. Yield4.6%Face Value ₹10

Strengths

  • +Company has a good return on equity (ROE) track record: 3 Years ROE 31.5%

Weaknesses

  • −Stock is trading at 7.78 times its book value
  • −The company has delivered a poor sales growth of 9.45% over past five years.

Shareholding Pattern

Promoters68.34%
FIIs1.47%
DIIs1.96%
Public27.41%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters68.34%68.34%68.34%68.34%68.34%68.34%68.34%68.34%
FIIs3.45%2.69%▼0.82.02%▼0.71.98%▼0.01.82%▼0.21.47%▼0.41.63%▲0.21.47%▼0.2
DIIs0.33%0.34%▲0.00.43%▲0.10.88%▲0.50.78%▼0.10.47%▼0.31.16%▲0.71.96%▲0.8
Public27.02%27.77%▲0.828.36%▲0.627.95%▼0.428.23%▲0.328.9%▲0.728.06%▼0.827.41%▼0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales848381879094100111108119
Expenses48474951565965676771
Operating Profit36363235343534444148
OPM %43%44%40%41%38%37%34%39%38%41%
Net Profit32262727292729302544
EPS ₹18.7114.9715.8715.7416.6716.0316.8117.6614.4425.49

AI Insights

Revenue Trend

Mar 2026 revenue at ₹438Cr, up 24.8% YoY. OPM at 38%.

Debt Position

Borrowings at ₹57Cr. Debt-to-equity ratio: 0.15x. Healthy balance sheet.

Institutional Flow

DIIs: 1.96% (+1.36pp change). FIIs: 1.47% (-2.38pp change). Promoters hold 68.34%.

Margin & Efficiency

ROCE declining from 47% (Mar 2015) to 44% (Mar 2026). Working capital days: 77.

Valuation

PE 23.5x with 43.7% ROCE. Price is 676% above book value of ₹233. Dividend yield: 4.6%.

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