Macpower CNC Machines Ltd(MACPOWER)

NSE: MACPOWER

₹ 1,768.6-3.62%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,769 crNext results: 26 Oct 2026Website: www.macpowercnc.comUpdated: 24 Oct 2026

About

Macpower CNC Machines Ltd is a Rajkot-based Indian manufacturer of CNC machine tools, producing 375+ variants across 27 segments including vertical machining centres, turning centres, double-column machines and 5-axis machines. The company reported FY26 revenue of ₹333.18 cr and posted record Q1 FY27 revenue of ₹95.24 cr, its highest-ever Q1 performance. It serves general engineering, automotive, defence, aerospace and electronics manufacturing sectors from a single plant at Metoda GIDC with installed capacity of 2,500 machines per annum.^[1][2][3]

Products and portfolio

Product universe covers 375+ variants across 27 segments as of Q2 FY26, including vertical machining centres, turning centres, HMC, VTL, double-column machines and 5-axis machines.^[3]
NEXA is the premium product series, with average machine realisation of ₹29 lakh in FY26 vs ~₹20 lakh overall; price ranges from ₹30 lakh to ₹1.5 cr per machine.^[4][5]
Three new models launched in Q1 FY27: DCM 2518 (double-column), LX 1000, and TOM 200 with Y-axis, extending the product range.^[2]
Q3 FY26 launches included DCM 4222 (double-column, ~30 tonne, ~₹2 cr market value), TOM 200 Y-axis Turn-Mill Centre (~₹1 cr) and GX 100 Super.^[5]

Manufacturing operations

Single plant at Metoda GIDC, Rajkot; installed capacity of 2,500 machines per annum, expanded from 2,000 on 10 November 2025.^[3]
Capacity utilisation was 80 - 85% in Q2 and Q3 FY26; management targets 90%+ utilisation at the existing plant in FY27.^[5][3][2]
At ~₹20 lakh average realisation, the 2,500-machine capacity represents revenue potential of ~₹500 cr per annum.^[2]
10,000 sq ft of additional rental space taken in Q3 FY26 to bridge capacity constraints; a further 50,000 - 1 lakh sq ft under discussion.^[5]

Key operating numbers

Pending order book was ₹456 cr as of Q1 FY27 (+32% YoY), with total domestic bids and tenders under evaluation of ₹1,043 cr.^[2]
NEXA series accounts for ~40% of the pending order book by value as of Q1 FY27, up from 39% in Q3 FY26 and negligible at the start of FY26.^[2][5]
Average machine realisation was ~₹20 lakh in Q1 FY27; order-booking realisation was ~₹20.9 - 21 lakh. FY27 average is expected to rise to ₹20.5 - 20.75 lakh.^[2]
A 4 - 6% price increase on all invoices took effect from 1 June 2026 in response to raw material cost pressures.^[2]

Customers and distribution

As of Q1 FY27, the company operates 10 branch offices and 8 technology centres across 39 cities; Kolkata branch was recently opened.^[2]
Upcoming branches in Nashik; technology centres in Pune, Kolhapur and Mumbai Western are in the pipeline.^[2]
Named customers include Kirloskar, Graphite India and large tyre companies cited as new wins in Q2 FY26; end-markets include general engineering, auto, defence, aerospace and EMS.^[3]
Export business commenced post-EMO Germany 2025; new foreign dealers appointed in Gulf and European markets; export margins are 5 - 7% higher than domestic.^[5]

Expansion and capex

13-acre leased site (9 usable + 4 green zone) secured near existing Metoda GIDC plant on a 30-year registered lease; estimated investment raised to ₹50 cr from prior ₹30 - 35 cr guidance.^[2]
The 13-acre facility is eligible for 25% capital subsidy and 7% interest subsidy under Viksit Gujarat Industrial Policy 2026; construction to start shortly with 12-month completion target.^[2]
Phase 2 of the 13-acre plant is targeted to add 1,000 - 1,500 machines capacity by FY28.^[4]
60-acre government defence land: process complete and token paid; eventual capacity target of 10,000 machines from this site; Gujarat defence land policy release was expected within 15 days to a month as of Q1 FY27.^[2][4]

Defence and export pipeline

Confirmed defence orders in the pending order book total ~₹20 cr as of Q1 FY27; defence/aerospace tender bids under evaluation stood at ₹304 cr.^[2]
Defence tender openings typically cluster in Q3 - Q4 due to budget utilisation pressure; management noted conversion rate on tenders averages ~10%.^[2][5]

Technology partnership

Technology-transfer-plus-royalty discussions are ongoing with one global partner (shortlist of Japan, Germany, Korea, Taiwan); NDAs signed with three companies as of Q2 FY26; partner site visits expected in Q2 FY27.^[3][2]
Under the envisaged arrangement, Macpower would manufacture certain import-substitute machines for Asian markets at the new plant and pay a percentage royalty; no equity investment by the foreign partner.^[5]

Recent developments

Q1 FY27 (ended June 2026): revenue ₹95.24 cr (+56.1% YoY), EBITDA ₹15.43 cr (+94.8% YoY, margin 16.20%), PAT ₹9.58 cr (+110.3% YoY) - highest-ever figures for any Q1 in company history.^[2]
FY27 revenue growth guidance upgraded to 30%+ YoY (from prior 28 - 30%) as of Q1 FY27; applies to revenue, EBITDA and PAT.^[2]
Rupesh J. Mehta reappointed as Managing Director for five years with effect from 1 October 2025; Nikesh J. Mehta reappointed as Whole-Time Director for five years from the same date.^[6]
Q4 FY26 saw 80 machines in finished-goods inventory at period-end (vs 18 tech-centre display machines in prior year) as payment/documentation for subsidy-backed loans had not cleared by 31 March 2026, deferring revenue recognition.^[4]

Market Cap

₹1,769 Cr

High / Low

₹2,251 / 761

Stock P/E

45.5

Price / Book

10.1

Book Value

₹175

EPS

₹33.9

No. of Shares

1 Cr

ROCE

29.1%

ROE

21.3%

OPM

14.1%

Debt / Equity

0.00

Sales

₹333 Cr

Net Profit

₹34 Cr

Promoter holding

73.2%

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