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MODISONLTD - Modison

📊 NSE: MODISONLTD 🏢 Electric Equipment 📅 Last Updated: 12/14/2025 9:56

📢 Recent Corporate Announcements

Modison Limited Restores Full Operations at Vapi Plant Following Fire Incident

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 24 Feb 2026, 03:25 PM

Modison Limited has announced the full restoration of operations at its manufacturing facility in Vapi, Gujarat, following a fire incident reported on February 7, 2026. The company successfully completed all necessary repairs, restoration, and safety assessments within a 17-day period. Production activities have now resumed normally without any further disruption. Additionally, the company has implemented enhanced safety measures to strengthen systems and ensure uninterrupted operations in the future.

Full restoration of operations at the Vapi plant as of February 24, 2026.
The restoration and safety assessment process was completed within 17 days of the fire incident.
Production activities have resumed normally with no further disruptions expected.
Implementation of strengthened safety systems to prevent future operational risks.

💡 Investors should view this as a positive recovery from a short-term operational setback. While the 17-day disruption was brief, monitor the next quarterly results for any minor impact on production volumes or extraordinary repair costs.

Modison Limited Reports Fire Incident at Vapi Plant; Operations Temporarily Disrupted

🔴 NEGATIVE ⭐ 6/10

OTHER 📅 07 Feb 2026, 02:55 PM

Modison Limited reported a fire incident at its manufacturing facility in Vapi, Gujarat, on February 7, 2026. While the company confirmed there were no casualties or injuries, the fire has caused a temporary disruption in operations at the affected plant. Management is currently assessing the total quantum of damage and the potential impact on production schedules. The company stated that the assets are adequately insured and the process for filing insurance claims has commenced.

Fire incident occurred in the early hours of February 7, 2026, at the Vapi, Gujarat facility.
No loss of life or injuries reported from the site of the incident.
Temporary disruption of manufacturing operations confirmed for the affected plant area.
Assets are adequately insured, with insurance claims currently being processed.
Full assessment of financial loss and production impact is currently underway.

💡 Investors should watch for follow-up disclosures regarding the duration of the operational shutdown and the estimated impact on quarterly revenue. While insurance provides a safety net for asset loss, the immediate concern is the potential delay in order fulfillment.

Modison Ltd Q3 Net Profit Jumps 245% YoY to ₹20.06 Cr; Revenue Up 18.5%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 04:21 PM

Modison Limited reported a robust Q3 FY26 with consolidated revenue rising 18.5% YoY to ₹143.71 crore. Net profit witnessed a stellar 245% YoY growth, reaching ₹20.06 crore, primarily driven by an exceptional gain of ₹11.70 crore from silver hedging. For the nine-month period, net profit more than doubled to ₹36.53 crore compared to ₹15.15 crore in the previous year. The company also successfully managed a one-time impact of ₹94.51 lakhs related to new labour code compliance.

Consolidated Revenue grew 18.5% YoY to ₹14,371.22 Lakhs in Q3 FY26.
Net Profit surged 245% YoY to ₹2,006.33 Lakhs, supported by ₹1,170.39 Lakhs in hedging gains.
EPS for the quarter improved significantly to ₹6.18 from ₹1.79 in the year-ago period.
9M FY26 Net Profit stands at ₹3,653.28 Lakhs, up from ₹1,514.87 Lakhs in 9M FY25.
Board approved the appointment of M/s. V. Singhi & Associates as Internal Auditors for FY 2026-27.

💡 While the profit growth is exceptionally high, investors should be aware that over 50% of the pre-tax profit came from one-time silver hedging gains. Monitor core operational performance in subsequent quarters to ensure sustainable growth.

Modison Ltd Q3 Net Profit Surges 245% YoY to ₹20.06 Cr; Revenue Up 18.5%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 04:15 PM

Modison Limited reported a robust performance for Q3 FY26, with consolidated revenue growing 18.5% YoY to ₹143.71 crore. Net profit witnessed a massive jump of 245% YoY to ₹20.06 crore, significantly bolstered by an exceptional gain of ₹11.70 crore from silver hedging and mark-to-market forward contracts. Even excluding these exceptional items, profit from ordinary activities grew by 95% YoY to ₹15.35 crore. The company also announced the appointment of M/s. V. Singhi & Associates as Internal Auditors for the next fiscal year.

Consolidated Revenue from Operations increased 18.5% YoY to ₹143.71 crore from ₹121.21 crore.
Net Profit surged 245% YoY to ₹20.06 crore, compared to ₹5.81 crore in the same quarter last year.
Exceptional gain of ₹11.70 crore recorded from silver hedging and forward contracts, up from a loss of ₹0.02 crore YoY.
Profit before exceptional items and tax grew 95% YoY to ₹15.35 crore.
Basic EPS for the quarter rose significantly to ₹6.18 from ₹1.79 YoY.

💡 Investors should cheer the strong bottom-line growth, but remain mindful that a significant portion of the profit jump is due to one-time hedging gains. The 95% growth in core operating profit before exceptions indicates strong underlying business momentum.

Modison Limited Submits Routine SEBI Dematerialization Compliance Certificate for Q3 FY2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Jan 2026, 01:37 PM

Modison Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the period ended December 31, 2025. The Registrar and Share Transfer Agent, Purva Sharegistry (India) Private Limited, confirmed that all dematerialization requests were processed and certificates were mutilated/cancelled within prescribed timelines. The report specifically mentions the dematerialization of 1,000 shares for a shareholder on December 10, 2025. This is a standard administrative filing ensuring the company's shareholding records are accurately maintained in electronic form.

Compliance certificate submitted for the quarter ended December 31, 2025.
RTA confirmed processing of dematerialization requests within regulatory timelines.
Specific dematerialization of 1,000 shares (Folio M000000591) recorded on December 10, 2025.
Verification and cancellation of physical share certificates confirmed by Purva Sharegistry.

💡 No action is required from investors as this is a routine regulatory filing. It confirms the company's adherence to standard share-handling procedures.

Modison Limited Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Dec 2025, 05:00 PM

Modison Limited has informed the stock exchanges that its trading window will be closed starting January 1, 2026. This closure is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the announcement of financial results. The window pertains to the unaudited financial results for the quarter and nine months ending December 31, 2025. The trading window will reopen 48 hours after the results are officially declared to the exchanges.

Trading window closure effective from Thursday, January 1, 2026
Closure is for the finalization of financial results for the quarter and nine months ended December 31, 2025
Window to remain closed until 48 hours after the financial results declaration
Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 This is a routine regulatory filing and requires no immediate action from shareholders. Investors should await the announcement of the board meeting date for the actual Q3 FY26 earnings release.

Modison Ltd Credit Rating Reaffirmed at 'CARE A; Stable'; Facilities Enhanced to ₹157.50 Cr

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 24 Dec 2025, 03:41 PM

CARE Ratings has reaffirmed Modison Limited's long-term credit rating at 'CARE A; Stable' and its short-term rating at 'CARE A1'. The total rated bank facilities have been enhanced to ₹157.50 crore, up from previous levels, which includes a new ₹25 crore facility assigned to Citi Bank. The rating action follows a review of the company's audited FY25 and unaudited H1FY26 financial performance. This reaffirmation indicates a stable credit profile and continued confidence from lenders as the company expands its credit lines.

Long-term rating for HDFC Bank facilities reaffirmed at 'CARE A; Stable' for an enhanced amount of ₹115 crore.
Short-term rating for HDFC Bank facilities reaffirmed at 'CARE A1' for ₹17.50 crore.
New credit rating of 'CARE A; Stable / CARE A1' assigned to ₹25 crore facilities from Citi Bank.
Total bank facilities under rating now aggregate to ₹157.50 crore.
Ratings review based on operational and financial performance for FY25 and H1FY26.

💡 The reaffirmation of ratings with a stable outlook and the enhancement of credit limits suggest a healthy balance sheet and growth potential. Investors can maintain confidence in the company's creditworthiness and debt-servicing capabilities.

MODISONLTD: Order Dropping Proceedings Received

🟢 POSITIVE ⭐ 5/10

REGULATORY 📅 05 Dec 2025, 06:23 PM

Modison Limited received an order from the Deputy Commissioner, Range-18, Division-8, Gujarat, dropping proceedings initiated under DRC-01. This relates to a previous communication where a demand of ₹11,67,229 was raised. The order, Reference No. ZD241225021784L dated December 04, 2025, was issued under Section 73 of GGST Act, 2017, CGST Act 2017 and IGST Act 2017. The company does not anticipate any impact on its financials, operations, or other activities.

Order bearing Reference No. ZD241225021784L dated December 04, 2025 received
Proceedings initiated under DRC-01 have been dropped
Original demand raised was for ₹11,67,229
Order issued under Section 73 of GGST Act, 2017, CGST Act 2017 and IGST Act 2017

💡 Investors can view this as a positive development as it removes a potential liability. No immediate action is required.

MODISONLTD declares ₹2.50 dividend, record date Dec 8, 2025

🟡 NEUTRAL ⭐ 7/10

DIVIDEND 📅 02 Dec 2025, 12:52 PM

Modison Limited has announced an interim dividend of 250%, which amounts to ₹2.50 per equity share with a face value of ₹1.00. The record date to determine shareholders' eligibility for this dividend is December 8, 2025. The dividend payment is scheduled to be made on or after December 9, 2025, subject to applicable tax deductions. Investors holding shares in dematerialized form as of the record date, as per NSDL and CDSL records, and those holding physical shares with valid transmission requests will be eligible.

Interim dividend of 250% declared
Dividend amount is ₹2.50 per share
Record date is December 08, 2025
Face value of share is ₹1.00
Payment on/after December 09, 2025

💡 Shareholders should ensure their Demat accounts are correctly updated to receive the dividend. Monitor your account for the dividend payout after December 9, 2025.

MODISONLTD declares Interim Dividend of ₹2.50 per share

🟢 POSITIVE ⭐ 7/10

DIVIDEND 📅 02 Dec 2025, 12:44 PM

Modison Limited's Board of Directors declared an interim dividend of ₹2.50 per equity share (250%) with a face value of ₹1.00 each for the financial year 2025-26. The record date for determining eligible shareholders is December 08, 2025. This dividend payout reflects the company's financial performance and commitment to rewarding its investors. The board meeting to approve this dividend occurred on December 02, 2025, commencing at 11:30 a.m. and concluding at 12:30 p.m.

Interim Dividend declared: ₹2.50 per equity share
Dividend is 250% of face value
Face value of equity share: ₹1.00
Record Date: December 08, 2025

💡 Shareholders should note the record date of December 08, 2025, to ensure eligibility for the interim dividend. Monitor the company's dividend payout history and financial performance for future investment decisions.

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💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 21.78% YoY to INR 493.50 Cr in FY24, primarily driven by higher demand in the Low Voltage (LV) segment. Q3 FY24 income specifically surged 38% YoY to INR 107.9 Cr compared to INR 78.2 Cr in Q3 FY23.

Geographic Revenue Split

Exports contribute approximately 15% of net sales, while the remaining 85% is derived from the domestic Indian market, particularly catering to top switchgear manufacturers.

Profitability Margins

Net Profit margin improved to 5.27% in FY24 from 3.33% in FY23. However, margins remain volatile; H1 FY25 PBILDT margin was 8.39% compared to 7.96% in FY24. Net profit for FY24 stood at INR 24.68 Cr, a 15.63% increase YoY.

EBITDA Margin

EBITDA margin stood at 9.60% in FY24, a slight improvement from 9.43% in FY23. Absolute EBITDA grew 23.96% YoY to INR 47.38 Cr. Q3 FY24 EBITDA margin saw a massive recovery to 8% from -1% in the previous year's quarter.

Capital Expenditure

The company undertook capital expenditure of INR 15.65 Cr in FY25 to support modernization and capacity needs. Historical non-current assets stood at INR 85.1 Cr as of FY23.

Credit Rating & Borrowing

CARE Ratings revised the outlook to 'Stable' from 'Negative'. Borrowing costs are impacted by an increase in debt, with the Interest Coverage Ratio declining 40.18% to 6.96x in FY25 from 11.30x in FY24 due to higher utilization of working capital limits.

⚙️ Operational Drivers

Raw Materials

Silver represents the primary raw material, accounting for 75-80% of total raw material purchases. Other critical materials include Copper and Tungsten.

Import Sources

Approximately 10% of raw material requirements are met through imports, while the majority is sourced domestically within India.

Key Suppliers

Procurement is concentrated, with the top five suppliers accounting for 65-70% of total purchases over the last three years. Suppliers include reputed providers of precious and base metals.

Capacity Expansion

Current capacity is focused on electrical contacts for HV and LV applications. Expansion is targeted toward green energy equipment and energy-efficient manufacturing processes, though specific MTPA figures are not disclosed.

Raw Material Costs

Raw material costs are highly volatile due to silver price fluctuations. The company manages this through partial hedging on MCX and natural hedging, though it lacks a formal defined hedging policy.

Manufacturing Efficiency

Efficiency is being addressed through Lean Six Sigma initiatives and the 'Execution Excellence' program aimed at waste removal and production variance reduction.

Logistics & Distribution

Distribution is focused on domestic OEMs and expanding export segments to reduce dependency on local switchgear manufacturers.

📈 Strategic Growth

Expected Growth Rate

21.78%

Growth Strategy

Growth will be achieved through product diversification into green energy equipment, expanding the export market share, and increasing penetration in the High Voltage (HV) and Low Voltage (LV) domestic segments. The company is also implementing automation and digitalization to improve precision and scale.

Products & Services

Electrical contacts for low, medium, and high voltage switchgear, used in industries like Automotive, Railway, Aerospace, Marine, Defence, and Engineering.

Brand Portfolio

MODISON

New Products/Services

Development of specialized products for green energy equipment and cost-effective materials for the electrical industry are expected to drive future revenue.

Market Expansion

Targeting new geographies for market diversification and expanding the export segment to mitigate domestic OEM concentration.

Market Share & Ranking

Not disclosed in available documents, but the company is a leading manufacturer of electrical contacts in India.

Strategic Alliances

The company maintains long-term strategic relationships with top switchgear manufacturers in India to secure steady order flow.

🌍 External Factors

Industry Trends

The industry is shifting toward green energy and higher energy efficiency. Modison is positioning itself by developing products for the renewable energy equipment sector and automating production for higher precision.

Competitive Landscape

Faces competition from global players, particularly from China, and domestic manufacturers in the electrical equipment space.

Competitive Moat

Moat is built on 50+ years of niche metallurgy expertise and long-term (20+ years) relationships with major global and domestic switchgear OEMs. This is sustainable due to high switching costs and technical certification requirements.

Macro Economic Sensitivity

Highly sensitive to global commodity price cycles, particularly silver, and industrial growth in the power and automotive sectors.

Consumer Behavior

Shift toward sustainable and green energy solutions is driving demand for specialized electrical contacts.

Geopolitical Risks

Trade barriers or supply disruptions in silver-producing regions and competitive pricing from China are primary geopolitical concerns.

⚖️ Regulatory & Governance

Industry Regulations

Subject to environmental standards regarding metal processing and effluents. Compliance is monitored through regular internal and third-party audits.

Environmental Compliance

Adoption of ESG policies and regular third-party audits of environmental practices, particularly regarding electroplating and effluent treatment.

Taxation Policy Impact

The effective tax rate is approximately 26-27%, with FY24 taxes at INR 1.5 Cr on a PBT of INR 5.6 Cr in Q3.

Legal Contingencies

No penalties, restrictions, or sanctions were identified in recent regulatory communications. The company declared that no violation or contravention has been identified by authorities.