Manas Polymers and Energies Limited (MPEL)
MPEL delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 98.55% of the MPEL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 89.58%. That is close to its usual level. Turnover was only ₹76 lakh, so a handful of trades can move this figure. It closed at its upper price band (circuit) on 16 Oct, one of 16 band closes in about the last 20 sessions. 21 bulk or block deals were reported in MPEL in the last 60 days: ₹7 Cr bought and ₹8 Cr sold.
Delivery in the last 5 sessions: 93.4% · 97.1% · 89.5% · 96.3% · 98.5%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 7 Oct | Sell | Karan Balkrishna Shah | ₹0.83 Cr | ₹22.90 | 361,600 | Bulk |
| 7 Oct | Sell | Raman Shamjibhai Shah (Huf) | ₹0.77 Cr | ₹22.94 | 337,600 | Bulk |
| 7 Oct | Buy | Chheda Ashok Bhawanji | ₹0.72 Cr | ₹22.56 | 320,000 | Bulk |
| 7 Oct | Sell | Cumulative Capital Private Limited | ₹0.65 Cr | ₹22.55 | 289,600 | Bulk |
| 7 Oct | Sell | Chandrika Raman Shah | ₹0.59 Cr | ₹22.58 | 260,800 | Bulk |
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
Manas Polymers and Energies Limited (MPEL) concluded its 3rd Annual General Meeting held on September 30, 2026. A total of 4 ordinary resolutions were unanimously passed with 100% of votes cast in favour, representing 49,04,700 shares or 63.07% of the total 77,76,000 equity shares. Approved items include the adoption of FY26 financial statements, reappointment of director Mrs. Janvi Bhadauria, appointment of VJ & Associates as Secretarial Auditor for 5 years, and appointment of M/s Batliboi and Purohit as Internal Auditor for 5 years.
- All 4 ordinary resolutions approved with 100% of cast votes in favour (49,04,700 votes)
- Overall voting turnout stood at 63.07% of the total 77,76,000 outstanding shares
- Promoter group polled 100% of their 48,69,500 shares; non-institutional public polled 35,200 shares (1.21%)
- VJ & Associates appointed as Secretarial Auditor and M/s Batliboi and Purohit as Internal Auditor, both for 5 consecutive years
Manas Polymers and Energies Limited (MPEL) has secured final trading approval from the National Stock Exchange (NSE) for 1,55,52,000 equity shares of Rs. 10 each issued via a rights issue. The shares were allotted on September 25, 2026, and received listing approval on September 28, 2026. Trading in these newly allotted shares will officially commence on September 30, 2026, under symbol MPEL in the SM series. This marks the successful completion of the procedural process for the rights issue.
- Received trading approval for 1,55,52,000 equity shares of face value Rs. 10 each
- Trading in the rights issue shares will commence on September 30, 2026
- Allotment of the shares took place on September 25, 2026, following in-principle approval on August 14, 2026
- Shares carry distinctive numbers 7776001 to 23328000 under symbol MPEL (SM series)
Promoter Vineet Bhadauria acquired 72,89,600 equity shares of Manas Polymers and Energies Limited on September 25, 2026, through a Rights Issue. Following this allotment, his absolute shareholding increased from 48,68,000 shares to 1,21,57,000 shares. However, due to the expansion of the company's total equity base from 77,76,000 to 2,33,28,000 shares, his percentage voting rights decreased from 62.60% to 52.12%. MPEL's total paid-up share capital tripled from INR 7.78 crore to INR 23.33 crore.
- Promoter Vineet Bhadauria allotted 72,89,600 equity shares via Rights Issue on September 25, 2026
- Absolute holding increased from 48,68,000 shares to 1,21,57,000 shares
- Shareholding percentage diluted from 62.60% to 52.12% post-issue
- Total paid-up share capital expanded from INR 7,77,60,000 to INR 23,32,80,000 (total shares tripled to 2,33,28,000)
Manas Polymers and Energies Limited (MPEL) has approved the allotment of 1,55,52,000 equity shares on a rights basis at an issue price of ₹16 per share (face value ₹10 plus a premium of ₹6). The allotment triples the company's equity base, raising paid-up share capital from ₹7.78 crore to ₹23.33 crore. Total proceeds raised through this rights issue stand at approximately ₹24.88 crore.
- Allotted 1,55,52,000 equity shares of face value ₹10 each on a rights basis
- Issue price fixed at ₹16 per equity share (including a ₹6 premium)
- Paid-up share capital increased from ₹7,77,60,000 (77.76 lakh shares) to ₹23,32,80,000 (2.33 crore shares)
- Total capital raised stands at approximately ₹24.88 crore
Manas Polymers and Energies Limited (MPEL) has approved the allotment of 1,55,52,000 equity shares on a rights basis at an issue price of ₹16 per share (face value ₹10 plus a premium of ₹6). The allotment triples the company's equity base, raising paid-up share capital from ₹7.78 crore to ₹23.33 crore. Total proceeds raised through this rights issue stand at approximately ₹24.88 crore.
- Allotted 1,55,52,000 equity shares of face value ₹10 each on a rights basis
- Issue price fixed at ₹16 per equity share (including a ₹6 premium)
- Paid-up share capital increased from ₹7,77,60,000 (77.76 lakh shares) to ₹23,32,80,000 (2.33 crore shares)
- Total capital raised stands at approximately ₹24.88 crore
Manas Polymers and Energies Limited (MPEL) has issued a corrigendum extending the schedule of its ₹2,488.32 lakh Rights Issue. The Rights Entitlement (RE) trading period is extended from September 16 to September 21, 2026. The overall Issue Closing Date is extended by three days, moving from September 21 to September 24, 2026. The issue involves up to 1,55,52,000 equity shares at ₹16 per share (ratio of 2:1 on record date August 31, 2026).
- Issue Closing Date extended from September 21, 2026, to September 24, 2026
- Last date for On Market Renunciation of Rights extended from September 16, 2026, to September 21, 2026
- Rights issue size is up to ₹2,488.32 lakhs (1,55,52,000 shares at ₹16 per share)
- Rights entitlement ratio is 2 rights equity shares for every 1 fully paid-up equity share held
- Revised listing/trading date for new rights shares is September 29, 2026
Manas Polymers and Energies Limited (MPEL) has issued a corrigendum extending its ongoing Rights Issue timelines. The issue closing date is extended from September 21, 2026, to September 24, 2026, while the Rights Entitlement (RE) trading period is extended from September 16, 2026, to September 21, 2026. The company is offering up to 1,55,52,000 equity shares at ₹16 per share (face value ₹10 plus ₹6 premium) to raise up to ₹2,488.32 lakhs. The rights ratio remains 2 rights equity shares for every 1 existing share held as of the August 31, 2026 record date.
- Issue closing date extended by 3 days to September 24, 2026 (earlier September 21, 2026)
- Rights Entitlement (RE) on-market renunciation period extended to September 21, 2026 (earlier September 16, 2026)
- Total issue size is up to ₹2,488.32 lakhs via 1,55,52,000 shares at ₹16 per share
- Allotment is scheduled for September 25, 2026, followed by listing and trading on September 29, 2026
Manas Polymers and Energies Limited (MPEL) has extended the closing date of its ongoing Rights Issue from September 21, 2026, to September 24, 2026. The Rights Entitlement (RE) trading period has also been extended from September 16, 2026, to September 21, 2026. Basis of allotment is now slated for September 25, 2026, followed by credit of shares on September 28, 2026, and listing on September 29, 2026. The committee approved this extension to allow eligible shareholders additional time to participate.
- Rights Entitlement (RE) trading window extended to Monday, September 21, 2026 (earlier September 16, 2026)
- Issue closing date extended to Thursday, September 24, 2026 (earlier September 21, 2026)
- Rights Entitlement suspension date revised to Tuesday, September 22, 2026
- Allotment of rights shares scheduled for September 25, 2026, with listing targeted for September 29, 2026
Manas Polymers and Energies Limited held a Board Meeting on September 05, 2026, approving the Board's Report and internal audit report for the financial year ended March 31, 2026. The company scheduled its Annual General Meeting (AGM) for September 30, 2026. Additionally, M/s Batliboi and Purohit, Chartered Accountants, and M/s V.J & Associates, Practicing Company Secretaries, were appointed as Internal Auditor and Secretarial Auditor, respectively, for a period of 5 years each.
- AGM scheduled for September 30, 2026 at 3:30 PM at the company's registered office in Gwalior
- Cut-off date set for September 23, 2026 for determining e-voting entitlement
- Book closure period finalized from September 24, 2026 to September 30, 2026
- Appointed M/s Batliboi and Purohit as Internal Auditor for a tenure of 5 years
- Appointed M/s V.J & Associates as Secretarial Auditor for a tenure of 5 years
Manas Polymers and Energies Limited (MPEL) has notified the exchange regarding its upcoming Rights Issue offering 2 Rights Equity Shares for every 1 fully paid-up Equity Share held on the Record Date. Following exchange guidelines and standard operating procedures to manage odd lots, the trading market lot size will be adjusted from 1,600 shares to 3,200 shares. The Board of Directors had previously approved the terms of the Rights Issue on August 25, 2026.
- Rights Issue entitlement ratio set at 2:1 (2 Rights Equity Shares for every 1 existing Equity Share)
- Market lot size revised from 1,600 shares to 3,200 shares
- Terms of the Rights Issue were approved at the Board meeting held on August 25, 2026
- Assigned Rights Entitlement ISIN: INE0U4H20011
Manas Polymers and Energies Limited (MPEL) has announced the completion of dispatch of its Letter of Offer, Abridged Letter of Offer, Rights Entitlement Letter, and Application Form for its upcoming Rights Issue. The dispatch was completed to eligible equity shareholders holding shares as of the Record Date, August 31, 2026. Newspaper publications confirming the completion of dispatch were issued on September 03, 2026.
- Dispatch of Letter of Offer and Rights Entitlement Letter completed to eligible shareholders
- Record Date for determining rights eligibility was August 31, 2026
- Newspaper advertisements confirming completion published on September 03, 2026
Manas Polymers and Energies Limited has finalized its Letter of Offer for a Rights Issue aggregating up to ₹2,488.32 Lakhs (₹24.88 Cr). The company is offering up to 1,55,52,000 equity shares of face value ₹10 at an issue price of ₹16 per share (including ₹6 premium). The rights entitlement ratio is set at 2 rights shares for every 1 existing fully paid-up equity share held on the record date of August 31, 2026. The issue will open for subscription on September 08, 2026, and close on September 21, 2026.
- Issue of up to 1,55,52,000 equity shares aggregating up to ₹2,488.32 Lakhs on a rights basis.
- Issue price set at ₹16 per share (₹10 face value plus ₹6 premium).
- Rights ratio of 2 Rights Equity Shares for every 1 fully paid-up Equity Share held.
- Record date fixed as August 31, 2026; issue opens September 08, 2026, and closes September 21, 2026.
- Last date for on-market renunciation of Rights Entitlements is September 16, 2026.
Manas Polymers and Energies Limited has secured the International Securities Identification Number (ISIN) for the Rights Entitlements (RE) of its proposed Rights Issue. The allotted RE ISIN is INE0U4H20011, which will allow the trading and crediting of rights entitlements. The company noted that all other terms approved in the Rights Issue Committee meeting dated August 25, 2026 remain unchanged.
- Allotted Rights Entitlement ISIN: INE0U4H20011
- Company equity shares ISIN: INEOU4H01011
- References Rights Issue Committee meeting outcome dated August 25, 2026
- All other terms and details of the Rights Issue remain unchanged
Manas Polymers and Energies Limited (MPEL) has received the International Securities Identification Number (ISIN) INE0U4H20011 for its Rights Entitlement (RE). This is in furtherance to the decisions taken at the Rights Issue Committee meeting held on August 25, 2026. All other terms and conditions of the rights issue remain unchanged. The announcement marks a procedural operational step to enable the credit and trading of rights entitlements.
- Allotted Rights Entitlement (RE) ISIN: INE0U4H20011
- Company ordinary share ISIN: INEOU4H01011
- Terms finalized in Rights Issue Committee Meeting on August 25, 2026 remain unchanged
- Filing submitted under Regulation 30 on August 27, 2026
Manas Polymers and Energies Limited (MPEL) has submitted an intimation to the exchange regarding the newspaper publication of the Record Date for its proposed Rights Issue. The filing is made pursuant to Regulation 42 of SEBI (LODR) Regulations, 2015 and Regulation 68 of SEBI (ICDR) Regulations, 2018. Specific terms such as issue price, entitlement ratio, and the exact record date were not detailed in the provided cover letter. This announcement serves as a compliance update for shareholders tracking the Rights Issue schedule.
- Published newspaper notice regarding the Record Date for the upcoming Rights Issue
- Submitted under SEBI LODR Regulation 42 and SEBI ICDR Regulation 68
- Signed and communicated by Managing Director Vineet Bhadauria on August 26, 2026
Financial Performance
Revenue Growth by Segment
The company reported total revenue from operations of INR 21.50 Cr for H1 FY26, representing a 32.2% YoY growth compared to INR 16.26 Cr in H1 FY25. While specific revenue splits per segment were not provided in numerical tables, the company operates in the Polymer and Power segments, with the Polymer segment historically being the primary driver.
Geographic Revenue Split
Not specifically disclosed in available documents, though the company is headquartered in Gwalior, Madhya Pradesh, and recently acquired land in Shajapur, M.P., suggesting a strong regional focus in Central India.
Profitability Margins
Net Profit Margin significantly improved to 20.64% in H1 FY26 from 11.06% in H1 FY25. Profit Before Tax (PBT) margin stood at 27.01% (INR 5.81 Cr) for H1 FY26, compared to 15.20% (INR 2.47 Cr) in the previous year, driven by better absorption of fixed costs.
EBITDA Margin
EBITDA margin is calculated at 34.05% for H1 FY26 (INR 7.32 Cr), up from approximately 20.45% in H1 FY25. This 1,360 bps improvement reflects enhanced operational efficiency in the polymer processing and power generation activities.
Capital Expenditure
The company has a massive planned Capex of INR 13.50 Cr for Solar projects, of which only INR 2.12 Cr (15.7%) has been utilized as of September 30, 2025. Additionally, INR 3.57 Cr has been fully utilized for Polymer Capex to expand manufacturing capacity.
Credit Rating & Borrowing
Total borrowings stood at INR 12.28 Cr as of Sept 2025, comprising Long-term borrowings of INR 5.73 Cr and Short-term borrowings of INR 6.54 Cr. Finance costs were INR 0.36 Cr for H1 FY26, implying an annualized interest rate of approximately 5.9% on total debt.
Operational Drivers
Raw Materials
Polymer resins and plastic granules constitute the primary raw materials, with 'Cost of materials consumed' totaling INR 12.10 Cr, representing 56.3% of total revenue in H1 FY26.
Import Sources
Not disclosed in available documents; however, polymer raw materials in India are typically sourced from domestic petrochemical hubs like Gujarat or imported via Maharashtra ports.
Capacity Expansion
The company is expanding its footprint through the acquisition of 49,053 sq mtrs of land in Shajapur, M.P. for INR 1.19 Cr. Polymer Capex of INR 3.51 Cr has been fully deployed to increase production capacity from previous levels.
Raw Material Costs
Raw material costs as a percentage of revenue decreased to 56.3% in H1 FY26 from 73.1% in H1 FY25, indicating better procurement pricing or a shift toward higher value-added polymer products.
Manufacturing Efficiency
Depreciation and amortization expense rose to INR 1.15 Cr in H1 FY26 from INR 0.45 Cr in H1 FY25, reflecting the commissioning of new machinery and higher asset utilization.
Logistics & Distribution
Other expenses, which include distribution and logistics, stood at INR 0.64 Cr, representing 2.98% of revenue in H1 FY26.
Strategic Growth
Expected Growth Rate
30%
Growth Strategy
Growth will be achieved through the operationalization of the INR 13.50 Cr Solar project and the utilization of the newly acquired 49,053 sq mtr land in Shajapur for industrial expansion. The company is transitioning from a pure polymer player to an integrated energy and polymer entity.
Products & Services
Polymer-based industrial products and Solar Power generation services.
Brand Portfolio
Manas Polymers and Energies (MPEL).
New Products/Services
Expansion into large-scale Solar Power generation is expected to contribute significantly to the top line once the remaining INR 11.38 Cr of allocated IPO funds are deployed.
Market Expansion
Expansion into Shajapur, M.P. through land acquisition for new industrial facilities, targeting the Central Indian industrial corridor.
External Factors
Industry Trends
The polymer industry is growing at 8-10% annually in India, while the renewable energy sector is seeing massive regulatory tailwinds. MPEL is positioning itself at the intersection of these two growth sectors.
Competitive Landscape
Operates in a fragmented polymer market but is differentiating through scale and energy integration.
Competitive Moat
The company's moat is built on integrated operations (Polymer + Power) and low-cost manufacturing in Gwalior. The shift to captive solar power will provide a long-term cost advantage over competitors relying on grid power.
Macro Economic Sensitivity
Highly sensitive to industrial growth in India and crude oil price cycles. A slowdown in the manufacturing sector would reduce demand for polymer components.
Consumer Behavior
Increasing demand for sustainable and 'green' manufactured products is driving the company's investment into solar energy.
Geopolitical Risks
Global supply chain disruptions in petrochemicals could impact raw material availability, as India is a net importer of several polymer feedstocks.
Regulatory & Governance
Industry Regulations
Subject to plastic waste management rules and environmental norms for polymer processing, as well as state-specific solar power policies in Madhya Pradesh.
Environmental Compliance
The company is investing INR 13.50 Cr in Solar energy, which aligns with ESG goals and carbon footprint reduction mandates.
Taxation Policy Impact
The effective tax rate for H1 FY26 was 23.6% (INR 1.37 Cr tax on INR 5.81 Cr PBT), benefiting from deferred tax assets of INR 0.14 Cr.
Legal Contingencies
The statutory auditors issued a clean limited review report with no qualifications, and no material pending litigations were disclosed in the financial notes for the period ended Sept 30, 2025.
Risk Analysis
Key Uncertainties
The primary uncertainty is the execution risk of the INR 13.50 Cr solar project, as 84% of the funds remain unutilized. Delays could impact the projected 30% growth trajectory.
Geographic Concentration Risk
High concentration in Madhya Pradesh, with the main plant in Gwalior and new land in Shajapur, making it vulnerable to state-specific policy changes.
Third Party Dependencies
High dependency on polymer resin suppliers; material costs represent 56.3% of the total expenditure.
Technology Obsolescence Risk
Risk of shifting to biodegradable alternatives in the polymer segment; the company must adapt its machinery (INR 11.34 Cr net block) to handle new materials.
Credit & Counterparty Risk
Trade receivables increased by 66.6% to INR 9.42 Cr in Sept 2025 from INR 5.65 Cr in March 2025, indicating a potential stretch in the credit cycle or aggressive sales terms.
