MIL Industries Limited
- Unlisted share
- Industrials & Engineering
- ISIN INE651L01019
At a glance
Sales
FY26
₹50.99 Cr
+47.6%on FY25What the company earned from its customers in the year.
Profit
FY26
₹8.16 Cr
+138%on FY25What was left after every cost and tax was paid.
Net worth
FY26
₹41.64 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- MIL Industries Limited
- ISIN
- INE651L01019
- Sector
- Industrials & Engineering
- Type of share
- Unlisted equity share
- Indicative price per share
- On request
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About MIL Industries Limited
MIL Industries is a small Chennai engineering company that lines tanks, vessels and pipes with corrosion- and abrasion-resistant rubber (the MILGERLAN brand) and makes rubber products such as expansion joints, hoses and sheets (MIL-O-FLEX) for fertiliser, chemical, power, mining and steel plants, working from its factory at Ambattur and at customers' sites. It is run by the founding Raman family, with Raghu Raman as managing director and Ramesh Raman as executive director; the promoter group, including Krebs Engineering Private Limited, holds a little under two-thirds of the shares. Its fluoropolymer (PTFE) lining business was demerged into a separate company, MIL Industries & Aerospace Limited, with effect from 1 April 2022.
Written from: milindus.com, milindus.com, milindus.com
Listing status. Already listed: equity shares are listed on the Metropolitan Stock Exchange of India (MSEI), symbol MILIND, with effect from 6 February 2018. Not listed on NSE or BSE. The company says the shares are not actively traded on MSEI. Company letter to shareholders on MSEI listing (6 February 2018); Annual Report 2025-26
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Industrials & Engineering
- ISIN
- INE651L01019
- Year of incorporation
- 1966
- Headquarters
- Chennai, Tamil Nadu
- Promoters
- Raman family (Raghu Raman 10.82%, Ramesh Raman 10.39%) and group companies including Krebs Engineering Private Limited (30.54%)
- Key people
- Chairman: A. Rengarajan; Managing Director: Raghu Raman; Executive Director: Ramesh Raman; CFO: N. Guruswamy
- Permanent employees
- 44 people
- Face value per share
- ₹10
- Equity shares outstanding
- 31,50,000 shares
- CIN
- L25199TN1966PLC005397
- Website
- milindus.com
Read from: Annual Report 2025-26, unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Profit margincalculated
16%
Out of every ₹100 of sales, ₹16 was left as profit.
Return on equitycalculated
19.6%
For every ₹100 of the owners' money, the company made ₹19.6 of profit in the year.
Debt to equitycalculated
0.02×
The company has borrowed ₹0.02 for every ₹1 of its owners' money.
- Indicative price
- On request
- No. of shares
- 31,50,000
- EPS
- ₹25.9
- Book value per share
- ₹132.21
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
MIL Industries Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY23 to FY26: ₹35.76 Cr to ₹50.99 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY23 to FY26: ₹2.82 Cr to ₹8.16 Cr.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Revenue from operations | 35.76 | 38.33 | 34.55 | 50.99▲48% |
| Other income | 1.15 | 1.46 | 2.24 | 1.68▼25% |
| Total income | 36.91 | 39.79 | 36.78 | 52.67▲43% |
| Depreciation and amortisation | 1.25 | 1.22 | 1.12 | 1.37▲23% |
| Finance cost | 0.25 | 0.24 | 0.24 | 0.29▲17% |
| Profit before tax | 3.85 | 7.4 | 4.61 | 11.03▲139% |
| Net profit after tax | 2.82 | 5.33 | 3.43 | 8.16▲138% |
| Basic earnings per share (₹) | 8.96 | 16.92 | 10.87 | 25.9▲138% |
Rupees crore unless marked, standalone. The change shown is the latest year against the year before. Read from: Annual Report 2023-24, Annual Report 2025-26.
Credit rating. IND BB+/Stable on cash credit (₹2.20 crore) and IND A4+ on non-fund-based limits (₹7.50 crore), India Ratings & Research (as disclosed in the FY2025-26 annual report) Annual Report 2025-26
Ownership
Shareholding pattern
Who owns the company
30.5%Krebs Engineering Private Limited (promoter group)
- Largest holder
- 30.5%
- Top 3 together
- 51.8%
- Holders named
- 5
- Krebs Engineering Private Limited (promoter group)30.54%
- Raghu Raman (promoter)10.82%
- Ramesh Raman (promoter)10.39%
- Mahendra Girdharilal6.03%
- Tamilnadu Industrial Investment Corporation Ltd5.33%
- Total63.11%
Read from: Annual Report 2025-26
Leadership
Management
A. Rengarajan
Chairman (Independent Non-Executive Director)
Raghu Raman
Managing Director
Ramesh Raman
Executive Director
N. Guruswamy
Chief Financial Officer
Prasath T
Company Secretary
Sekhar Ramani
Director
Aakansha Anand
Director
T. Karunanidhi
Director
Read from: Annual Report 2025-26
Corporate calendar
Events
- 30 Sept 2026AGM60th annual general meeting called for 30 September 2026 by video conference; record date 23 September 2026Open
- 29 May 2026Board meetingBoard approved audited results for FY2025-26; no dividend recommendedOpen
- 29 May 2024Financial resultsAudited accounts for FY2023-24 signed; no dividend recommended for the yearOpen
- 1 Apr 2022DemergerPTFE (plastic lining) undertaking demerged into MIL Industries & Aerospace Limited under an NCLT-approved scheme, appointed date 1 April 2022Open
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about MIL Industries Limited on WhatsAppIs the price shown for MIL Industries Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my MIL Industries Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell MIL Industries Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
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Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by MIL Industries Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.