Mamata Machinery Ltd(MAMATA)

NSE: MAMATABSE: 544318

₹ 379.85-0.68%refreshed 26 Oct, 12:58 pm ISTMarket cap: ₹ 935 crWebsite: www.mamata.comUpdated: 24 Oct 2026

About

Mamata Machinery Ltd is an end-to-end maker of flexible packaging machinery: co-extrusion blown film lines, bag and pouch converting machines, and form-fill-seal packaging systems, sold under the 'Vega' and 'Win' brands. The company calls itself India's leading converting machinery manufacturer, among the top five in the world, and says it leads the domestic packaging machinery market. Revenue was 233.0 (Rs crore) in FY26. It has an installed base of over 5,400 machines in more than 80 countries.^[1][2]

Business segments

Machine sales in FY25: Converting Division Rs 117.79 Cr, Packaging Division Rs 45.43 Cr, Extrusion Division Rs 36.39 Cr.^[3]
Converting machinery revenue was ₹4,199 lakhs in Q3 FY26, down 14% YoY.^[4]
Co-extrusion machinery revenue was ₹1,056 lakhs in Q3 FY26 vs ₹222 lakhs in Q3 FY25. In 9M FY26 it was ₹1,809 lakhs, down 9% YoY.^[4]
In FY26, domestic packaging machinery sales grew 55% and US packaging sales fell about 20%, leaving the packaging segment down 1% overall.^[5]
Management calls packaging machinery its principal growth driver (FY26 annual report).^[1]

Products and technology

The packaging range includes HFFS lines (the Simplex series and the second-generation HFFS Duplex, launched at PACK EXPO Las Vegas in September 2025) and VFFS machines.^[6]
It launched RecTech, a recyclable mono-material packaging technology, at Plastindia 2026. The Indian Institute of Packaging, Kolkata certified its barrier performance and CIPET confirmed its recyclability.^[1]
Its cross-sealing technology received a European patent in January 2026. That brings the total to five patents in India and abroad, with 3 more being filed.^[1]
The company runs a DSIR-recognised in-house R&D centre.^[1]

Operations

The Ahmedabad (Sanand) facility can make more than 250 machines a year. It sits on 20,662 sq. m. of land with 9,235 sq. m. built up (FY26).^[1]
It runs an asset-light model: design, software, electrical integration, assembly and testing are done in-house, while fabrication goes to more than 250 curated vendors.^[1]
Its wholly owned US subsidiary, Mamata Enterprises Inc., runs facilities in Bradenton, Florida and Montgomery, Illinois for sales, demos, application development and after-sales support.^[1]

Order book

The closing order book was ₹89.59 crores in FY26 vs ₹66.64 crores in FY25, up 34%. It was 62% export and 38% domestic.^[5]
Of the FY26 closing order book, ₹80 crores is due in H1 FY27 and ₹9 crores (a 9-layer co-extrusion order) in H2 FY27.^[5]
The order book stood at ₹144 crores in November 2025 vs ₹131 crores in September 2024.^[6]

Customers and markets

Exports made up 63% of revenue in FY26, against 71% in FY25.^[1][3]
Revenue split in FY26: India 37%, North America 26%, rest of the world 38%.^[1]
Revenue by region in FY26 vs FY25 (Rs lakh): India 8,330.29 vs 7,197.95; USA 5,645.44 vs 7,339.22; Canada 383.26 vs 994.34; Mexico 225.77 vs 1,132.43.^[1]
Customers range from global FMCG brand owners to tier-1 converters across FMCG, food and beverage, e-commerce and non-food.^[1]
It won a multi-machine VFFS order from one of India's leading snacks and namkeen brands. Four machines were delivered in FY26, with 18 more due in H1 FY27.^[5][1]
Its first packaging machine order from outside the US and India came from a South African customer, for delivery in Q2 FY27.^[5]
In Q2 FY26 it won three 9-layer blown-film plant orders, from the UAE, Latin America and a domestic customer.^[6]

Distribution and geographic expansion

It has 2 international offices in the US, supported by agents across Africa, the Middle East, Europe, Asia and South-Central America.^[1]
It set up a branch office in the CIS and Russia region alongside a hundred-year-old local distributor.^[1]
It partnered with Carpentier GmbH for European packaging distribution and expects US$2-3 million of extra European packaging revenue over 3-5 years (FY26 call).^[5][1]
It is targeting about US$1 million of initial business from South East Asia through new channel partners (FY26 call).^[5]
It is preparing to enter Australia (FY26 annual report).^[1]

Recent developments

For FY27, management guided to about 15% top-line growth and 30-40% growth in the domestic packaging division.^[5]
FY26 results included a one-time labour code provision of ₹3.05 crores and about ₹4 crores of higher exhibition costs.^[5]
Rajashekar Venkat was appointed President, effective May 05, 2025, to drive the packaging machinery division.^[3]
Management lists changes in tariff policy across key export markets as a risk (FY26 annual report).^[1]

Market Cap

₹935 Cr

High / Low

₹458 / 298

Stock P/E

110.5

Price / Book

5.1

Book Value

₹75

EPS

₹6.1

No. of Shares

2.46 Cr

ROCE

12.8%

ROE

8.5%

OPM

9.9%

Debt / Equity

0.04

Sales

₹233 Cr

Net Profit

₹15 Cr

Promoter holding

60.1%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials