Modison
- Market cap
- ₹ 1,319 Cr.
- P/E
- 11.4x
- P/B
- 5.06x
- 52-week range
- 114 – 546
- ROE
- 32%
- ROCE
- 31%
- Dividend yield
- 1.6%
- Debt / equity
- 0.64
- Sector
- Electrical Equipment
- Industry
- Other Electrical Equipment
- Listed on
- NSE, BSE
About
Modison Limited is an India-based company. The Company is engaged in the manufacturing of electrical contacts for switchgear in India and globally. It manufactures electrical contact materials and finishes contacts for all the areas of the switchgear industry including Low, Medium, High and Extra High Voltage. It also produces goods for dominant sectors such as automotive, engineering, aerospace, marine, defense, and railways. Its Electrical Contacts include Low Voltage Electrical Contacts, such as Silver Tin Oxide Contact, Silver Brazing Alloy, and Fine Silver-Powder/ Granules, and others; Medium and High Voltage Electrical Contacts, such as Brazed Arcing Contacts, Electron-Beam Welding, and Copper Tungsten Contacts, among others; and Precious Metal Compounds, such as Silver Oxide, Silver Nitrate, and Silver Sulphate. Its Silver Bullion includes Cast Silver, Minted Silver, and Silver Cutlery. Its value-added services include silver plating, electron beam welding, and others.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Other Electrical Equipment: 83 companies →Modison against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)11.4 against a typical 25.2: cheaper than most peers (1st = cheapest).18th of 80
- Sales growth+92.4% against a typical +32% from a year earlier.13th of 69
- Profit growth+91.7% against a typical +15.9% from a year earlier.18th of 64
- Share price, 3 months+44.9% against a typical −9.6%.5th of 74
- Size₹ 1,319.1 Cr. market value against a typical ₹ 553.8 Cr. (1st = largest).24th of 77
Latest announcements
Exchange filings and their impact on the company.
- New railway signalling contact opens Rs 250 cr domestic market plus exports, with small near-term sales ramp.
Modison Limited has developed Silver-Tungsten Carbide electrical contacts for railway signalling relays. The company estimates the annual Indian market for this product at about Rs 250 crore and also sees export potential with overseas relay makers. This is a technology milestone that could support future sales and profit growth, but actual revenue will depend on customer approvals and orders.
- Q2 revenue and profit nearly doubled YoY with strong H1 run-rate plus Rs 4 interim dividend.
Modison approved unaudited Q2 and H1 FY27 results: Q2 revenue was Rs 279.0 crore versus Rs 145.2 crore last year, with net profit of Rs 23.3 crore versus Rs 11.7 crore. H1 revenue was Rs 549.5 crore with net profit of Rs 57.1 crore, already about 78% of last full year's profit. The board also declared an interim dividend of Rs 4 per Re 1 share with record date October 23, 2026.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A by CARE- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CARE | CARE A | Stable | 30 Dec 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 30 Dec 2025 | Reaffirmed | CARE A | — | CARE | ₹ 157.5 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 16 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 13 Aug 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 22 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 2 Feb 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended December 31, 2025 and other business matters |
| 2 Dec 2025 | Dividend/Other business matters | To consider dividend and other business matters |
| 14 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 108 | 114 | 116 | 122 | 121 | 130 | 134 | 145 | 144 | 287 | 270 | 279 |
| Expenses | 99 | 104 | 108 | 112 | 110 | 115 | 126 | 127 | 125 | 216 | 220 | 248 |
| Operating Profit | 9 | 9 | 8 | 10 | 11 | 15 | 9 | 18 | 19 | 71 | 50 | 31 |
| OPM % | 8% | 8% | 7% | 8% | 9% | 12% | 6% | 13% | 13% | 25% | 19% | 11% |
| Other Income | 0 | 2 | −4 | 4 | 0 | 2 | 2 | 1 | 13 | −18 | 2 | 7 |
| Interest | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 3 | 4 | 5 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 2 | 2 |
| Profit before tax | 6 | 9 | 2 | 11 | 8 | 13 | 6 | 16 | 27 | 48 | 46 | 31 |
| Tax % | 27% | 28% | 32% | 25% | 26% | 27% | 25% | 26% | 26% | 25% | 26% | 24% |
| Net Profit | 4 | 6 | 1 | 8 | 6 | 10 | 5 | 12 | 20 | 36 | 34 | 23 |
| EPS in Rs | 1.26 | 1.9 | 0.35 | 2.52 | 1.79 | 2.94 | 1.48 | 3.59 | 6.18 | 11.09 | 10.43 | 7.18 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 16%
- 5 Years
- 19%
- 3 Years
- 29%
- TTM
- 85%
- 10 Years
- 22%
- 5 Years
- 26%
- 3 Years
- 83%
- TTM
- 269%
- 10 Years
- 25%
- 5 Years
- 47%
- 3 Years
- 81%
- TTM
- —
- 10 Years
- —
- 5 Years
- 15%
- 3 Years
- 19%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Modison | ₹ 370.25 | ₹ 1,319 Cr. | 11.4x | 5.1x | 32% | — |
| ABB India | ₹ 6,140.00 | ₹ 1,29,936 Cr. | 95.2x | 20.3x | — | 11.6% |
| Hitachi Energy India | ₹ 26,250.00 | ₹ 1,17,002 Cr. | 139x | 27.6x | 21% | 12.1% |
| CG Power and Industrial Solutions | ₹ 814.95 | ₹ 1,24,592 Cr. | 114.8x | 17.9x | 20.4% | 9.6% |
| Polycab India | ₹ 7,415.00 | ₹ 1,11,738 Cr. | 50x | 11.1x | 25.4% | 9.3% |
| Siemens | ₹ 3,250.00 | ₹ 1,15,739 Cr. | — | 9.4x | 11.7% | 8.5% |
Management
- Murlidhar Narayan Nikam
- Chief Executive Officer
- Ramesh Mangilal Kothari
- Chief Financial Officer
- Pooja Birendra Sinha
- Compliance Officer, Company Secretary
- Girdhari Lal Modi
- Managing Director, Executive Director
- Kumar Jay Modi
- Joint Managing Director, Executive Director
- Rajkumar Mohanlal Modi
- Joint Managing Director, Executive Director
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