Master Components Limited (MASTER)
Latest quarterly results (H2 FY26)
MASTER delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.0% of the MASTER shares traded on NSE were taken to delivery, against the stock's own 20-session average of 92.33%. That is lower than usual for this stock. Turnover was only ₹4 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 66.7% · 100.0% · 100.0% · 100.0% · 50.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
The Karnataka High Court has partly allowed Master Components Limited's writ petition regarding a 7,997.50 sq. mtr industrial plot (Plot No. 309/P1) at Belur Industrial Area, Dharwad, originally allotted in May 2011. The court observed that the allotted site was unusable due to steep terrain and that company representations had languished for over a decade. The High Court has ordered the Karnataka Industrial Area Development Board (KIADB) to pass a reasoned order within 6 weeks, preferably exploring an alternate plot of equivalent extent and value.
- High Court directed KIADB to decide within 6 weeks from receipt of certified order copy
- Dispute pertains to Plot No. 309/P1 measuring 7,997.50 sq. mtrs in Belur Industrial Area, Dharwad
- Plot was originally allotted on May 13, 2011, and had remained unutilized due to uneven valley terrain
- Court directed KIADB to examine feasibility of allotting an alternate industrial plot of equivalent extent and value
Master Components Limited announced the voting results of its Extraordinary General Meeting (EGM) held on September 22, 2026. All five proposed resolutions were approved unanimously with 100% of the 2,756,000 valid votes cast in favor. The resolutions passed include the appointment of a statutory auditor to fill a casual vacancy, adoption of a new format for the Memorandum of Association, an increase in authorized share capital, an alteration to the Articles of Association, and the approval of an ESOP scheme. Total attendance at the meeting was 20 members voting via e-voting.
- All 5 resolutions passed unanimously with 100% approval across 2,756,000 votes cast
- Total of 20 members attended and voted at the EGM held on September 22, 2026
- Approved increase in authorized share capital and alteration of Clause 5 of the MoA
- Approved introduction of an Employee Stock Option Plan (ESOP) scheme
- Casual vacancy for statutory auditor successfully filled by shareholder vote
Shareholders of Master Components Limited approved an increase in the company's authorised share capital from ₹4.50 crore to ₹11.00 crore at their meeting on September 22, 2026. Consequently, Capital Clause 5 of the Memorandum of Association was altered to reflect 1,10,00,000 equity shares of ₹10 each, up from 45,00,000 shares. This corporate action facilitates equity expansion, likely creating headroom for the ongoing amalgamation scheme with sister concern Master Moulds Private Limited.
- Authorised share capital increased from ₹4,50,00,000 to ₹11,00,00,000
- Total authorised equity share count increased from 45,00,000 to 1,10,00,000 shares of ₹10 each
- Approval granted via ordinary resolution at the shareholder meeting held on September 22, 2026
Shareholders of Master Components Limited have approved an increase in the company's authorized share capital from ₹4.50 crore to ₹11.00 crore, divided into 1.10 crore equity shares of ₹10 each. Consequential changes were made to Capital Clause 5 of the Memorandum of Association (MOA). Additionally, the Articles of Association (AOA) were amended to insert Article 12, enabling the company to introduce an Employee Stock Option Scheme (ESOP). This expansion of authorized capital creates room for equity issuances, such as the pending amalgamation with Master Moulds Private Limited or ESOP grants.
- Authorized share capital increased from ₹4,50,00,000 to ₹11,00,00,000
- Total authorized equity shares expanded from 45,00,000 to 1,10,00,000 shares of ₹10 each
- Shareholder approval granted on September 22, 2026, via Ordinary Resolution for MOA alteration
- Inserted Article 12 in Articles of Association to enable implementation of Employee Stock Option Schemes
Master Components Limited conducted its Extraordinary General Meeting (EGM) on September 22, 2026, with 20 members attending via video conference. Key resolutions tabled included the appointment of M/s Kirtane and Pandit LLP to fill a casual statutory auditor vacancy, an increase in authorized share capital, and the approval of an ESOP Scheme. Voting was conducted through google forms via email, and voting results pending the scrutinizer's report will be declared separately.
- EGM conducted on September 22, 2026, lasting 24 minutes (commenced at 11:09 a.m. and concluded at 11:33 a.m. IST)
- Total of 20 shareholders attended via Video Conferencing / OAVM facility
- 5 resolutions tabled, including the approval of an ESOP Scheme and an increase in authorized share capital
- Appointment of M/s Kirtane and Pandit LLP as Statutory Auditors to fill a casual vacancy
Master Components Limited has received ISO 14001:2015 (Environment Management System) and ISO 45001:2018 (Occupational Health & Safety Management System) certifications from BSCIC Certifications Private Limited. The certifications cover Unit 1 and Unit 2 located at MIDC Ambad, Nashik, for the manufacture of plastic moulded components and sub-assemblies. The certificates were issued on September 08, 2026, and remain valid up to 2029 subject to annual surveillance audits. This is a routine compliance milestone with no direct financial impact.
- Awarded ISO 14001:2015 and ISO 45001:2018 certifications by BSCIC Certifications on September 08, 2026
- Certificates cover Unit 1 (Plot D-10/A & D-10/B) and Unit 2 (D-1/34) at MIDC Ambad, Nashik
- ISO 14001 certification valid until April 30, 2029; ISO 45001 certification valid until September 07, 2029
- First annual surveillance audits for both certifications are due before September 07, 2027
Master Components Limited has scheduled an Extraordinary General Meeting (EGM) on September 22, 2026, to seek shareholder approval for several key corporate actions. The board has proposed increasing the authorized share capital from ₹4.50 crore to ₹11.00 crore by creating 65 lakh new equity shares of ₹10 each. Additionally, the company seeks approval to appoint M/s Kirtane & Pandit LLP as statutory auditors to fill a casual vacancy following the resignation of M/s Bhalchandra D Karve and Associates, alongside adopting the 'MCL ESOP Scheme 2026'.
- Proposed increase in authorized share capital from ₹4.50 crore to ₹11.00 crore
- Creation of 65,00,000 additional equity shares of face value ₹10 each
- Appointment of M/s Kirtane & Pandit LLP as statutory auditors following casual vacancy resignation
- EGM scheduled for September 22, 2026, via Video Conferencing to approve capital hike, MOA/AOA changes, and ESOP Scheme 2026
Master Components Limited has announced an Extra-ordinary General Meeting (EGM) scheduled for Tuesday, September 22, 2026, at 11:00 AM via video conference. The cut-off date to determine the eligibility of shareholders to vote at the EGM has been fixed as Wednesday, September 16, 2026. Voting on all agenda items will be conducted electronically via designated submission facilities.
- EGM scheduled for Tuesday, September 22, 2026, at 11:00 AM IST via video conference.
- Cut-off date for shareholder voting eligibility fixed as Wednesday, September 16, 2026.
- Meeting deemed venue is the registered office at MIDC, Ambad, Nashik, Maharashtra.
Master Components Limited has scheduled an Extraordinary General Meeting (EGM) for Tuesday, September 22, 2026, at 11:00 AM IST. The meeting will be held via video conferencing/other audio-visual means, with the deemed venue at its registered office in Nashik, Maharashtra. In accordance with MCA rules for SME-listed companies, voting on resolutions will be conducted via Google Form sent to designated email IDs instead of standard e-voting. The specific agenda items were not detailed in this initial intimation.
- EGM scheduled for September 22, 2026, at 11:00 AM IST via video conference
- Deemed venue set at registered office: Plot No. D-10/A & D-10/B, MIDC Ambad, Nashik
- Voting to be conducted via Google Form via designated email ID under MCA SME exemption rules
Master Components Limited announced the appointment of M/s Kirthane & Pandit LLP as the company's Statutory Auditor effective August 26, 2026. The appointment fills a casual vacancy resulting from the resignation of the previous auditor, M/s Bhalchandra D Karve & Associates, received on August 12, 2026. The new appointment is valid until the conclusion of the ensuing Annual General Meeting and remains subject to shareholder approval.
- Appointment of M/s Kirthane & Pandit LLP (FRN: 105215W/W100057) effective August 26, 2026
- Casual vacancy created due to resignation of previous auditor dated August 12, 2026
- Tenure of appointment extends until the conclusion of the upcoming Annual General Meeting
- Proposed audit fees to be finalized by the Board and Audit Committee commensurate with scope
Master Components Limited announced that its Board of Directors has approved the appointment of M/s Kirtane & Pandit LLP as the new Statutory Auditors effective August 26, 2026. The appointment fills a casual vacancy resulting from the resignation of the previous statutory auditor, M/s Bhalchandra D Karve & Associates, received on August 12, 2026. The new auditor will hold office until the conclusion of the upcoming Annual General Meeting, subject to shareholder approval.
- Appointment of M/s Kirtane & Pandit LLP (FRN: 105215W/W100057) as Statutory Auditors effective August 26, 2026
- Casual vacancy caused by the resignation letter received on August 12, 2026, from M/s Bhalchandra D Karve & Associates
- Appointed auditor has over 70 years of professional audit and advisory experience
- Term extends until the conclusion of the ensuing Annual General Meeting, subject to shareholder approval
M/s Bhalchandra D Karve and Associates has resigned as the Statutory Auditor of Master Components Limited, effective from the close of business on August 13, 2026. The resignation is attributed to a management decision to restructure the statutory audit process to align with the ongoing amalgamation of Master Moulds Private Limited. As of September 30, 2025, the company reported a net worth of ₹32.45 Cr, while the entity being merged (Master Moulds) has a net worth of ₹6.66 Cr. The Board and Audit Committee will formally take note of this change in their next meeting.
- Resignation of M/s Bhalchandra D Karve and Associates effective from August 13, 2026.
- Audit restructuring initiated due to the amalgamation with Master Moulds Private Limited.
- Share exchange ratio for the merger is 40 equity shares of Master Components for every 1 share of Master Moulds.
- Master Components reported a net worth of ₹32.45 Cr against assets of ₹51.65 Cr as of September 2025.
- Master Moulds reported a net worth of ₹6.66 Cr against assets of ₹9.27 Cr.
Master Components Limited has secured a purchase order worth approximately ₹45.51 lakhs for the supply of electrical components. The order is from an undisclosed domestic company and is scheduled for completion by November 3, 2026. Compared to the company's FY25 revenue of ₹24.67 crore, this single order represents a modest 1.84% of annual turnover. Payment terms are structured at 90 days from the date of the purchase order.
- Order value of ₹45,51,493.20 excluding taxes
- Execution deadline set for November 3, 2026
- Payment terms specified as 90 days from the PO date
- Represents approximately 1.84% of the FY25 revenue of ₹24.67 crore
Master Components Limited has secured a domestic purchase order worth approximately ₹3.68 crore for the supply of plates and frames to an undisclosed electrical company. This order is significant as it represents roughly 14.9% of the company's FY25 revenue of ₹24.67 crore. The contract features an exceptionally tight execution timeline, with completion required by August 27, 2026, just 20 days after the announcement. Payment terms are set at 30 days from the date of the purchase order.
- Order value of ₹3,68,18,597 (excluding tax) secured from a domestic entity.
- Execution deadline is set for August 27, 2026, requiring a very rapid turnaround.
- Order size represents approximately 14.9% of the FY25 annual revenue of ₹24.67 crore.
- Payment terms are defined as 30 days from the date of the Purchase Order.
Shareholders and unsecured creditors of Master Components Limited have approved the Scheme of Amalgamation with Master Moulds Private Limited in an NCLT-convened meeting held on August 3, 2026. Unsecured creditors representing Rs 4.57 crore in debt voted 100% in favor of the merger. The transaction involves a share exchange ratio of 40 equity shares of Master Components for every 1 share of Master Moulds. This consolidation is expected to integrate design and manufacturing capabilities and rationalize operational costs.
- 100% of voting unsecured creditors (10 in total) approved the amalgamation resolution
- Debt represented by the voting unsecured creditors totaled Rs 4,56,59,713.91
- Share exchange ratio fixed at 40 equity shares of Master Components for every 1 share of Master Moulds
- 30 equity shareholders attended the meeting to constitute the required quorum
- Master Moulds brings a net worth of Rs 6.66 Cr to the consolidated entity
Financial Performance
Revenue Growth by Segment
Post-amalgamation, the combined turnover is approximately INR 40.73 Cr. Master Moulds Private Limited (Transferor) contributes INR 3.96 Cr, which represents approximately 9.7% of the combined entity's pro-forma turnover. Master Components Limited (Transferee) reported a standalone turnover of INR 36.77 Cr as of September 30, 2025.
Geographic Revenue Split
100% of the company's registered operations are based in Nashik, Maharashtra, with offices located in the M.I.D.C. Ambad industrial area.
Profitability Margins
As of September 30, 2025, Master Components Limited reported a net worth of INR 32.45 Cr against assets of INR 51.65 Cr (62.8% equity-to-asset ratio). Master Moulds reported a net worth of INR 6.66 Cr against assets of INR 9.27 Cr (71.8% equity-to-asset ratio). Specific net profit margins were not disclosed.
Operational Drivers
Raw Materials
The company utilizes materials for manufacturing tools, moulds, jigs, fixtures, and engineering components. Specific raw material names (e.g., steel grades or polymer types) are not disclosed.
Capacity Expansion
The company is expanding its operational base through the amalgamation of its sister concern, Master Moulds Private Limited, to pool resources and finances into one consolidated entity. Specific MT or unit capacity is not disclosed.
Manufacturing Efficiency
The company aims to achieve productivity improvements and standardization of business processes through the combined operations of the Transferor and Transferee companies.
Strategic Growth
Growth Strategy
Growth will be achieved through the amalgamation of Master Moulds Private Limited, which is expected to result in operational rationalization, optimal utilization of resources, and increased business opportunities through enhanced customer service and synergy.
Products & Services
Tools, moulds, jigs, fixtures, engineering components, engineering instruments, and machine tools.
Brand Portfolio
Master Components Limited, Master Moulds Private Limited.
Market Expansion
The company plans to streamline operations to achieve more focused operational efforts and productivity improvements, though specific target regions are not disclosed.
Strategic Alliances
Amalgamation with sister concern Master Moulds Private Limited (Transferor Company).
External Factors
Industry Trends
The industry is seeing a trend toward consolidation of sister concerns to reduce compliance burdens and achieve economies of scale in the manufacturing of engineering tools and moulds.
Competitive Landscape
The company operates in the engineering and allied industries, competing in the manufacturing and marketing of machine tools and fixtures.
Competitive Moat
The company's moat is built on its integrated ability to design, mould, and fabricate engineering components. This is strengthened by the amalgamation which combines the design and manufacturing capabilities of two sister concerns into a single entity.
Regulatory & Governance
Industry Regulations
Operations are subject to the Companies Act 2013, SEBI Listing Regulations, and the upcoming sanction of the Scheme of Amalgamation by the National Company Law Tribunal (NCLT), Mumbai Bench.
Legal Contingencies
The company is currently undergoing the legal process for the Scheme of Amalgamation of Master Moulds Private Limited with Master Components Limited, which requires approval from the NCLT, SEBI, and Stock Exchanges.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful integration of the Transferor company and the receipt of all necessary statutory and regulatory approvals for the amalgamation.
Geographic Concentration Risk
High geographic concentration with 100% of registered offices and manufacturing facilities located in Nashik, Maharashtra.
