Mukand’s Shares Jump Over 10% After ₹673 Crore Land Sale, Focus Turns to Specialty Steel Expansion

Mumbai-based specialty steel manufacturer Mukand Ltd., a part of the Bajaj Group, saw its shares surge over 10% in early trade on July 24, 2025, following the announcement of a significant land sale deal worth ₹673 crore. The company has entered into an agreement to sell 17.77 acres of land in Kalwe and Dighe (Thane district) along with partial access rights and road usage for a consideration of no less than ₹86,980 per square meter.

Mukand has already received an advance of ₹110 crore from the buyer, and the transaction is expected to unlock substantial value for the company. The firm has previously used proceeds from non-core asset sales to reduce its debt burden, which currently stands at a net ₹1,537.85 crore as of March 2025. Its net debt-to-equity ratio is reported at 1.60x.

The management reiterated that the company will use the funds to strengthen its focus on downstream value-added products and expand its specialty steel offerings. Mukand aims to cater to high-growth, high-precision sectors such as aerospace, defense, power, and precision engineering.

Despite the global headwinds faced during FY25 — including the ongoing Russia-Ukraine conflict, instability in the Middle East, and declining steel demand in Europe — Mukand maintained resilience. Its revenue from operations declined marginally by 5.08% to ₹4,911.16 crore, while net profit stood at ₹86.95 crore.

In a major milestone, one of Mukand’s divisions secured its first export order from the U.S. during FY25, a testament to the company’s expanding global reach and technological capabilities. Management continues to prioritize operational efficiency and cost control to navigate volatility and maintain a competitive edge in specialty steel.

Over the last year, Mukand’s stock has experienced a drop of 11%, though it has rebounded 13% year-to-date. The company currently has a market capitalization of around ₹2,100 crore.

This land monetization move is seen as a strategic step to enhance liquidity, reduce debt, and invest in high-margin steel products tailored for advanced engineering sectors — solidifying Mukand’s long-term growth trajectory.