Multipurpose Trading and Agencies Limited

Financial Services — Capital Markets · BSE

₹7.51₹0.00 (0.00%)

DalalBaazaar Score

61 / 100

🟢 Good

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, falling profits.

In simple words: The business is earning a fairly low return on the money invested in it, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:07 pm

Caution warranted. Multiple fundamental metrics — flagged in red below — point to either valuation stretch, leverage risk, or weakening profitability. This doesn't mean avoid the stock outright, but it does mean the burden of proof is on the growth story to justify the current price.

Understanding the Business

Company site ↗

The 60-second version of Multipurpose Trading and Agencies Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Multipurpose Trading and Agencies Limited engages in the trade of securities in India. It is also involved in real estate and investment activities, as well as trading of shares, commodities, and others. The company was incorporated in 1979 and is based in New Delhi, India.

IndustryCapital Markets

SectorFinancial Services

Employees1

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-125 reaches shareholders as profit, with ₹55 left at the operating level before interest, tax and depreciation. Each of its 1 employees supports ₹37.4 lakh of revenue a year, the signature of a people-led business.

EBITDA margin55.3%

Net margin-125.1%

Revenue / employee₹37.4 lakh

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC LIFE INS CO LTD, SBI LIFE INSURANCE CO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

BAJAJ FINANCE LIMITEDP/E 30.2x · ROE 17.8%

HDFC LIFE INS CO LTDP/E 58.4x · ROE 11.3%

SBI LIFE INSURANCE CO LTDP/E 63.9x · ROE 13.7%

What is its competitive advantage?Not assessable from these ratios

For a lender, returns on capital are shaped by leverage and funding cost rather than by pricing power, so the usual financial signature of an advantage does not apply. Judge this one on deposit franchise, cost of funds and asset quality — none of which are in this data.

ROCE4.3%

ROE-10.1%

Peer median ROE13.7%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +11% while net margin moved -316% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+11%

Margin effect-316%

DalalBaazaar Score

61/ 100

Good

Weighted across six categories. Every point is explained below.

✗ Revenue CAGR of only 3.4% — barely ahead of inflation
✗ Latest-year revenue growth of -34.3% is below the longer-term trend — momentum is fading
✗ Profit fell 373.9% in the latest year

Quality vs. Valuation

Company Quality

63/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

65/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

30.0x

3Y Median

25.7x

40 monthly readings · mean 26.2x · range 19.3x–38.0x

Sector Median

58.4x

median of 3 sector peers

⚠️Current valuation is approximately 17% above its 3y median of 25.7x. Paying more than usual needs a reason — faster growth, a better balance sheet, or a re-rating you believe in.

🟢Against its sector it trades 49% below the peer median of 58.4x.

vs. its own history

Fair

25.7x median over 40 months · +17%

vs. sector peers

Cheap

58.4x median of 3 peers · -49%

vs. generic bands

Fair

15x–35x

P/E (Trailing)

30.0x

P/B

0.77x

EV/EBITDA

18.0x

PEG

—

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well0

Nothing stands out as clearly improving on the years of data available.

🔴 What Needs Attention2

Margins are compressing
EBITDA margin has slipped from 59.9% to 55.3% over 3 years.
Return on equity is falling
ROE has dropped from 4.1% to -10.1% — each rupee of shareholder capital earns less than it did.

Red Flags

4 items require attention · 2 high · 2 watch

🔴Thin interest coverageFinancial
Operating profit covers interest only 0.3x — little room if earnings dip.
🔴The company is lossmakingFinancial
Net profit of -₹0 Cr in the latest reported year.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from 19.6x to 0.3x.
🟡Margins are compressingFinancial
EBITDA margin is down 4.6 points over 3 years.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Cheaper than its peers
It trades 49% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 59.9% to 55.3%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Growth barely outpaces inflation
Revenue compounding at 3.4% a year is close to the rate prices rise, so the business is gaining little ground in real terms. That leaves the share price dependent on a re-rating rather than on earnings growth.
Returns on shareholder capital are falling
ROE has dropped from 4.1% to -10.1%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above 53%✓ 55.3%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✗ -10.1%
For a lender this is the cleanest single read on whether the book is being grown profitably.
3Interest cover stays above 3x✗ 0.3x
How much operating profit can fall before interest stops being comfortably covered.
4Revenue growth stays above 4% a year✗ 3.4% CAGR
Latest reported year was -34.3%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
5Valuation vs its own median of 25.7x✓ 30.0x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

4 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 3 neutral · 6 weak

Market Cap

₹4 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

30.0x

Fair

Fairly valued against the generic band

P/B Ratio

0.77x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.25

Profitable

Profitable on a per-share basis

ROE

-10.1%

Weak

Weak capital efficiency

ROCE

4.3%

Weak

Low return on total capital employed

Debt/Equity

2.22x

High

High leverage

Revenue Growth (YoY)

-34.3%

Shrinking

Sales are contracting

Profit Growth (YoY)

-373.9%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

CMP

₹7.51

Operating Margin

20.2%

Good

Healthy core-business profitability

Net Margin

42.2%

Good

Strong bottom-line conversion

Current Ratio

3.23

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.16

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

8.2 / 8.5

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

25.8

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+3.4%
EBITDA	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+0.7%
EBITDA Margin	59.9%	61.9%	52.9%	55.3%	—
PAT (Net Profit)	₹0 Cr	₹0 Cr	₹0 Cr	-₹0 Cr	—
EPS	₹0.4	₹0.39	₹0.35	₹-0.95	—
ROE	4.1%	3.9%	3.3%	-10.1%	—
ROCE	4.2%	4.3%	3.6%	4.3%	—
Total Debt	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+7.6%
Free Cash Flow	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—

🟢 Revenue has grown at 3.4% a year over 3 years.

🟡 EBITDA has been broadly flat over 3 years (0.7% a year).

🔴 EBITDA Margin has fallen from 59.9% to 55.3% over 3 years (-4.6 pts).

🔴 PAT (Net Profit) has turned negative, from ₹0 Cr to -₹0 Cr.

🔴 EPS has turned negative, from ₹0.4 to ₹-0.95.

🔴 ROE has fallen from 4.1% to -10.1% over 3 years (-14.2 pts).

🟡 ROCE has held roughly flat at 4.3% over 3 years.

🔴 Total Debt has grown at 7.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹5 Cr

Total Liabilities

₹0 Cr

Total Debt

₹0 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

81.9%

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
HDFC LIFE INS CO LTD	58.4x	11.3%
SBI LIFE INSURANCE CO LTD	63.9x	13.7%

Recent News

1 mixed5 general

Multipurpose Trading schedules 48th AGM for September 30 to approve FY26 accounts

scanx.trade, 13 Oct

Multipurpose Trading & Agencies Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 04 Sept

Viksit Engineering Ltd. (VIKSHEN.BO) Stock Price, News, Quote & History

Yahoo! Finance Canada, 15 Oct

S.A.L Steel reports standalone net profit of Rs 3.09 crore in the June 2026 quarter

Business Standard, 14 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Multipurpose Trading submits scrutinizer report for 48th AGM resolutions

scanx.trade, 30 Sept

Svaraj Trading and Agencies Limited (ZSVARAJT.BO) stock price, news, quote and history

Yahoo Finance Australia, 06 Apr

Watch Items

Revenue growth is negative (-34.3%) on the latest reported period — check if this is one-off or a trend.
Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
This is a financial-sector business: borrowing is its raw material, not leverage in the usual sense. Debt/Equity and ROCE here aren't comparable to a manufacturer's — read them alongside NIM, GNPA and capital adequacy from the company's own disclosures.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

🟢Business QualityStrong15.9/20

🟢Financial HealthStrong17/20

🔴GrowthWeak7.6/20

🔴ProfitabilityWeak6.7/15

🟡ValuationFair9.5/15

🔴RiskHigh4/10

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 2 high-severity red flags sit above this conclusion and should be read first.

This thesis breaks if

✓EBITDA margin holds above 53%55.3%
✗Return on equity stays above 8%-10.1%
✗Interest cover stays above 3x0.3x
✗Revenue growth stays above 4% a year3.4% CAGR
✓Valuation vs its own median of 25.7x30.0x today