Mukta Arts financials and balance sheet

NSE: MUKTAARTSBSE: 532357EntertainmentSmall Cap

₹47.35₹3.65 (7.16%)BSE ₹46.30

Share price at the NSE close on 23 Oct 2026. Previous close ₹51.00.

52-week range of traded prices to 23 Oct 2026

₹37.01Low, 30 Mar 2026₹72.70High, 23 Oct 2025

Market cap: ₹107 Cr2,743rd largest listed
P/E: Lossover the last 12 months
P/B: Net worth zero or below
Dividend yield: Nonein the last 12 months
ROE: Net worth zero or below
ROCE: −106.1%
Debt to equity: Net worth zero or below
Volume, NSE: 21,03051.9% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Mukta Arts annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹195 Cr, year to Mar 2024A loss in 8 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue174
Materials and goods−7.3
Employee costs−44
Other expenses−109
Operating profit13
Depreciation−21
Other income+13
One-off items−3.5
Finance costs−13
Profit before tax−11
Tax−0.7
Joint ventures−0.1
Net profit−12

What the company owns

Plant, investments and other assets₹207 Cr
Current investments₹21 Cr
Receivables₹8 Cr
Cash and bank₹6 Cr
Inventory₹1 Cr

What pays for it: net worth and liabilities

Other liabilities₹128 Cr
Borrowings₹60 Cr
Owed to suppliers₹55 Cr

Mukta Arts business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Mukta Arts segment results by quarter

Revenue by segment

₹187 CrTotal

Theatrical Exhibition Division₹107 Cr57.0% of total
Education₹62 Cr33.3% of total
Other₹11 Cr6.0% of total
Software Division₹7 Cr3.5% of total
Equipment Division₹0 Cr0.1% of total

Profit by segment

Other₹6.09 Cr97.1% of total
Equipment Division₹0.18 Cr2.9% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Theatrical Exhibition Division
Revenue, ₹ crore
104
100
16
48
96
123
100
107
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
1
−9
−19
−14
−12
−5
−11
−4
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Education
Revenue, ₹ crore
47
56
51
49
55
54
58
62
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
5
8
9
5
−5
−3
−4
−4
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Other
Revenue, ₹ crore
13
13
10
10
10
8
8
11
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
8
8
6
6
8
6
6
6
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Software Division
Revenue, ₹ crore
9
12
11
40
9
19
12
7
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
2
2
5
19
4
4
3
−1
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Equipment Division
Revenue, ₹ crore
0
0
0
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
0
0
0
0
0
0
0
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	173	181	88	148	171	205	179	187
Company revenue, as in its results	162	172	73	132	163	195	167	174
Revenue	104	100	16	48	96	123	100	107
Revenue growth	–	−4.0%	−84.1%	200.3%	101.9%	27.3%	−18.1%	6.3%
Profit	1	−9	−19	−14	−12	−5	−11	−4
Margin	0.5%	−9.3%	−116.9%	−29.5%	−12.7%	−3.8%	−11.1%	−4.0%
Return on capital	1.9%	−27.7%	−30.8%	−16.9%	−12.7%	−4.5%	−8.9%	−3.1%
Assets	74	100	89	110	107	98	103	96
Liabilities	48	67	28	27	11	−6	−21	−40
Capital employed	26	34	60	83	96	104	125	136
Revenue	47	56	51	49	55	54	58	62
Revenue growth	–	19.2%	−9.1%	−3.1%	12.1%	−1.1%	7.0%	7.0%
Profit	5	8	9	5	−5	−3	−4	−4
Profit growth	–	67.4%	9.6%	−47.3%	–	–	–	–
Margin	10.2%	14.3%	17.2%	9.4%	−9.1%	−4.6%	−6.2%	−6.1%
Return on capital	48.1%	107.7%	53.3%	23.6%	−45.2%	−38.2%	−40.1%	−64.1%
Assets	44	49	55	60	53	51	54	53
Liabilities	34	42	39	41	42	44	45	47
Capital employed	10	7	16	19	11	7	9	6
Revenue	13	13	10	10	10	8	8	11
Revenue growth	–	0.3%	−24.4%	6.0%	−0.2%	−21.8%	−1.8%	40.4%
Profit	8	8	6	6	8	6	6	6
Profit growth	–	1.8%	−31.8%	10.9%	27.2%	−24.3%	−1.5%	0.5%
Margin	64.1%	65.0%	58.6%	61.3%	78.1%	75.6%	75.9%	54.3%
Return on capital	47.5%	46.1%	22.3%	37.3%	58.6%	56.8%	54.5%	56.5%
Assets	23	24	31	22	19	16	14	14
Liabilities	6	5	5	4	5	5	3	3
Capital employed	18	18	26	17	14	11	11	11
Revenue	9	12	11	40	9	19	12	7
Revenue growth	–	32.9%	−4.3%	259.7%	−76.9%	105.6%	−37.5%	−45.0%
Profit	2	2	5	19	4	4	3	−1
Profit growth	–	7.6%	152.8%	262.5%	−76.3%	−11.6%	−22.3%	–
Margin	21.6%	17.5%	46.1%	46.5%	47.7%	20.5%	25.5%	−15.3%
Return on capital	11.6%	13.0%	–	–	–	–	–	–
Assets	21	19	19	6	9	9	19	11
Liabilities	4	4	29	16	18	11	47	60
Capital employed	16	16	−10	−10	−9	−3	−28	−49
Revenue	0	0	0	0	0	0	0	0
Profit	0	0	0	0	0	0	0	0
Margin	−35.4%	−239.8%	−237.9%	−116.5%	−24.5%	71.0%	81.1%	74.4%
Return on capital	−3.2%	−144.5%	−24.3%	−14.6%	−2.8%	15.3%	24.8%	17.5%
Assets	4	1	1	1	1	1	1	1
Liabilities	0	1	0	0	0	0	0	0
Capital employed	4	0	1	1	1	1	1	1
	–	–	–	–	–	0	–	–
Profit	–	–	–	–	–	0	–	–
Assets	–	–	–	–	–	0	–	–
Liabilities	–	–	–	–	–	0	–	–
	0	–	–	–	–	–	–	–
Profit	0	–	–	–	–	–	–	–
Assets	0	–	–	–	–	–	–	–
Liabilities	0	–	–	–	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Mukta Arts quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 24 May	Mar 2020Filed 1 Jul	Mar 2021Filed 26 May	Mar 2022Filed 20 May	Mar 2023Filed 26 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
Revenue from operations	103	124	162	172	73	132	163	195	167	174
	–	116	147	153	66	113	158	180	162	161
Materials and goods bought	–	15	6	0	0	0	6	8	7	7
Employee costs	–	–	28	33	21	23	35	40	40	44
Other expenses	–	–	113	120	44	89	118	133	115	109
Operating profit before depreciation	–	8	15	18	7	19	5	14	4	13
Operating margin	–	6.7%	9.2%	10.7%	10.0%	14.5%	3.0%	7.3%	2.6%	7.6%
Materials, % of revenue	–	–	3.7%	−0.1%	0.4%	−0.1%	3.6%	3.9%	4.0%	4.2%
Employee costs, % of revenue	–	–	17.0%	19.2%	28.9%	17.8%	21.4%	20.5%	24.3%	25.6%
Other expenses, % of revenue	–	–	70.1%	70.2%	60.6%	67.8%	72.1%	68.4%	69.1%	62.6%
Depreciation and amortisation	–	13	12	19	19	18	19	20	19	21
Operating profit after depreciation	–	−4	3	−1	−12	1	−15	−6	−15	−7
Other income	8	11	12	9	15	21	11	14	13	13
Finance costs	10	11	10	16	14	12	14	15	14	13
Profit before one-off items and tax	−5	−5	4	−8	−11	10	−17	−6	−15	−8
One-off items	−1	0	0	0	0	0	0	0	0	−3
Profit before tax	−6	−5	4	−8	−11	10	−18	−6	−15	−11
	2	0	2	1	1	–	1	0	2	1
Current tax	–	1	1	0	2	–	2	1	1	0
Deferred tax	–	0	1	0	−1	–	−1	−1	1	0
Share of profit of joint ventures and associates	–	0	0	0	0	0	0	0	0	0
Net profit	−8	−5	3	−8	−12	6	−19	−7	−17	−12
Other comprehensive income	–	–	−1	−1	0	0	0	0	0	0
Total comprehensive income	–	–	2	−9	−12	7	−19	−7	−17	−12
Net margin	−7.7%	−3.8%	1.6%	−4.9%	−16.9%	4.7%	−11.5%	−3.4%	−10.4%	−6.8%
Net margin without joint ventures and associates	–	−3.8%	1.7%	−4.9%	−16.2%	5.0%	−11.5%	−3.5%	−10.4%	−6.8%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the year to Mar 2018 they do not, so they are left blank. Operating expenses, operating profit before depreciation and operating profit after depreciation are left blank for the year to Mar 2017: the statement does not state its depreciation, which operating profit is worked out from, so operating profit is not given. Tax is left blank for the year to Mar 2022: profit before tax less the tax charge stated does not come to the profit after tax the same statement states, so the tax charge is not shown.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 24 May	Mar 2020Filed 1 Jul	Mar 2021Filed 26 May	Mar 2022Filed 20 May	Mar 2023Filed 26 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
	31	13	1	10	−13	−22	−39	−55
	28	9	−3	5	−21	−28	−46	−62
Share capital	11	11	11	11	11	11	11	11
Reserves	16	−3	−14	−7	−32	−39	−57	−73
Belonging to outside owners of subsidiaries	3	4	4	5	8	6	7	7
	73	75	67	64	68	72	65	60
Repayable after a year	62	62	56	56	60	59	58	56
Repayable within a year	11	13	11	8	8	13	7	4
	97	122	142	118	109	121	105	122
Trade payables	30	34	28	30	39	44	39	55
Other financial liabilities	17	30	36	26	20	16	19	26
Other liabilities	31	33	57	43	32	35	31	28
Provisions	8	10	10	11	11	12	9	9
	81	111	101	122	146	125	176	176
Other financial liabilities	13	42	38	54	76	59	65	41
Other liabilities	2	2	2	7	5	2	47	73
Provisions	3	5	5	5	5	6	7	6
Total assets	210	245	244	249	243	224	242	243
	150	186	168	176	181	166	183	169
Plant in use, after depreciation	79	108	90	111	66	64	60	55
Plant being built	2	4	5	2	2	3	4	3
Intangible assets	5	10	10	6	53	9	10	54
Intangible assets being developed	9	9	8	5	8	7	11	5
Property held to earn rent	15	14	14	13	13	13	12	12
Investments	4	4	4	4	4	0	4	1
Stakes in joint ventures and associates	0	0	0	0	0	4	0	0
Loans given	1	0	0	0	0	0	0	0
Other financial assets	19	22	22	22	18	53	64	18
Deferred tax	2	2	3	2	3	3	2	2
Other assets	14	14	13	11	13	11	15	18
	60	60	76	73	62	57	59	74
Inventories	1	1	1	1	1	1	1	1
Trade receivables	22	16	21	11	9	8	2	8
Cash and cash equivalents	6	3	14	9	8	3	2	3
Other bank balances	2	5	5	7	8	8	5	4
Current investments	0	0	0	2	0	1	18	21
Loans given	12	12	13	15	14	14	13	10
Other financial assets	7	9	8	9	7	10	8	13
Other assets	10	14	14	18	14	12	10	14
Net debt	65	67	48	45	52	60	40	32

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 26 May	Mar 2022Filed 20 May	Mar 2023Filed 26 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
	33.0	35.9	11.6	10.3	23.6	25.5
	31.5	39.0	17.6	12.3	63.9	21.7
	8.3	1.5	1.2	−15.0	46.8	−1.4
Receivables	−4.9	9.5	2.2	1.0	−9.7	−3.4
Inventories	0.4	−0.2	−0.3	0.6	0.9	0.2
Payables	5.8	−1.7	8.7	−5.7	5.4	−15.9
Other working capital	7.0	−6.2	−9.3	−10.9	50.2	17.7
Tax paid	1.5	−3.1	−4.5	−2.1	−40.3	−3.0
Capital spending	1.1	0.0	0.0	7.2	7.9	4.2
Free cash flow	31.9	35.9	11.6	3.1	15.8	21.2
	−0.5	−24.7	−3.7	−4.8	−2.9	−6.7
Plant and property sold	0.2	0.0	0.0	0.0	1.3	0.9
Companies bought	−0.4	0.0	0.0	0.0	0.0	−1.7
Interest received	0.9	1.0	1.5	1.4	1.6	1.5
	−21.7	−15.9	−9.2	−10.9	−21.1	−18.5
Borrowings raised	0.0	0.0	0.0	5.1	1.7	0.0
Borrowings repaid	−2.5	−3.5	4.6	−1.3	−9.2	−5.3
Interest paid	−13.7	−12.4	−13.9	−14.8	−13.5	−13.2
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0
Shares bought back	0.0	0.0	0.0	0.0	0.0	0.0
Shares issued	0.0	0.0	0.0	0.0	0.0	0.0
Net change in cash	10.8	−4.7	−1.3	−5.5	−0.4	0.3

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Mukta Arts dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 24 May	Mar 2020Filed 1 Jul	Mar 2021Filed 26 May	Mar 2022Filed 20 May	Mar 2023Filed 26 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
Earnings per share	−₹3.50	−₹2.13	–	–	–	₹2.90	−₹8.33	−₹2.92	−₹7.60	−₹5.24
Diluted earnings per share	−₹3.50	−₹2.13	–	–	–	₹2.90	−₹8.33	−₹2.92	−₹7.60	−₹5.24
Dividend per share	–	–	₹1.25	–	–	–	–	–	–	–
Book value per share	–	–	₹12.20	₹3.84	−₹1.39	₹2.02	−₹9.13	−₹12.26	−₹20.42	−₹27.45
Dividend payout	–	–	108.2%	–	–	–	–	–	–	–
Shareholder yield	–	–	–	–	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	226	143	104	41	63	105	100	168	142	84

Earnings per share is left blank for the years to Mar 2019, Mar 2020 and Mar 2021: the earnings per share stated does not match any profit the filing states over the shares in issue, and the share count barely moved during the period.

Ratios

Consolidated, years to March.Mukta Arts PE ratio and valuation

Ratio	Mar 2018	Mar 2019Filed 24 May	Mar 2020Filed 1 Jul	Mar 2021Filed 26 May	Mar 2022Filed 20 May	Mar 2023Filed 26 May	Mar 2024Filed 30 Jul	Mar 2025Filed 12 Jun	Mar 2026Filed 22 May
Revenue growth	20.7%	30.2%	6.1%	−57.5%	80.7%	23.9%	19.2%	−14.3%	4.3%
Operating profit growth	–	79.5%	23.2%	−60.5%	162.9%	−74.8%	193.0%	−69.7%	211.0%
	–	9.5%	−46.8%	−444.7%	876.4%	233.7%	27.6%	46.9%	21.8%
	–	–	−56.3 pts	−397.8 pts	1,321.1 pts	−642.7 pts	−206.2 pts	19.3 pts	−25.1 pts
From the net margin	–	–	−38.5 pts	−113.1 pts	569.1 pts	−3,009.5 pts	−164.1 pts	56.1 pts	−16.3 pts
From asset turnover	–	–	0.7 pts	96.8 pts	98.8 pts	−513.9 pts	17.9 pts	−11.9 pts	0.0 pts
From borrowing	–	–	−18.5 pts	−381.5 pts	653.2 pts	2,880.8 pts	−59.9 pts	−24.9 pts	−8.9 pts
Return on capital employed	–	2.6%	−0.8%	−17.5%	1.9%	−26.2%	−11.3%	−57.1%	−139.7%
Cash conversion	–	–	–	–	577.0%	–	–	–	–
Interest cover	–	0.3	–	–	0.1	–	–	–	–
Debt to equity	–	2.36	5.98	71.50	6.62	–	–	–	–
Receivable days	–	48	34	104	31	20	15	5	16
Inventory days	–	63	−2,217	862	−2,074	80	56	73	56
Payable days	–	1,872	−65,179	32,198	−65,907	2,423	2,143	2,112	2,746
Cash conversion cycle, days	–	−1,760	62,996	−31,232	63,864	−2,322	−2,073	−2,035	−2,674
Working capital days	–	−78	−120	−369	−152	−123	−117	−141	−150
Asset turnover	–	0.77	0.75	0.30	0.53	0.66	0.83	0.72	0.72
Assets per rupee of net worth	–	7.60	12.56	88.41	347.23	−30.66	−9.66	−6.31	−4.49
Sales per rupee of plant	–	2.06	1.59	0.81	1.19	2.48	3.02	2.76	3.15
Capital spending to depreciation	–	–	–	0.06	0.00	0.00	0.36	0.42	0.20
Plant being built, % of plant in use	–	2.8%	3.5%	5.1%	1.7%	3.2%	4.2%	6.0%	5.5%

Interest cover is left blank for the years to Mar 2018, Mar 2020, Mar 2021, Mar 2023, Mar 2024, Mar 2025 and Mar 2026: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2023, Mar 2024, Mar 2025 and Mar 2026: net worth is below zero, so there is no shareholders' money to set the borrowings against. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −4.9%
Cash from operations against operating profit: 191.5%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	19.0%	2.1%
Return on equity, average	–	241.3%	32.1%
Return on capital employed, average	–	−46.5%	−69.4%
Operating margin, average	8.0%	7.0%	5.8%
Net margin, average	−5.9%	−5.5%	−6.9%
Asset turnover, average	–	0.69	0.76
Cash conversion cycle, days, average	–	10,952	−2,261

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	107	59	25
Cash from investing	−43	−14	−7
Cash from financing	−76	−50	−18
Capital spending	19	19	4
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	7	7	0
Borrowings repaid	24	16	5

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	5	9	4	5	5	6
Altman Z-scorePublished threshold 1.1	−0.27	−1.42	−1.89	−0.60	−1.86	−2.28	−2.22	−2.41
Beneish M-scorePublished threshold −1.78	–	–	−1.96	−2.95	−2.87	−2.96	−3.96	−0.85
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	−18.32	−2.03	−10.83	−5.20	−16.31	−12.57
Receivables growth less revenue growthOur threshold 0 percentage points	–	−32.41	88.52	−126.69	−43.50	−30.76	−59.85	267.10
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	117.20	−302.77	176.23	−3,569.35	−40.17	27.95	−25.44
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	3.09	−0.25	3.62	−3.59	0.30	−2.28	5.20
Assets under construction, years of additionsOur threshold 2 years of additions	–	0.08	4.06	0.05	–	0.15	0.25	0.19
Effective tax ratePublished threshold 17.16 per cent	36.80	–	–	53.53	–	–	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	24.26	–	–	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.