Mtandt Rentals Limited
Mtandt Rentals Limited
INE0BC201010
Incorporation Date: 19-Oct-2009
Listing Status: DRHP Not Filed
About Mtandt Rentals Limited
Overview of Mtandt Rentals Limited
Mtandt Rentals Limited
About Company
Mtandt Rentals Limited is an Indian equipment rental, sales and industrial solutions company incorporated in 2009. The company specialises in Mobile Elevating Work Platforms (MEWPs), access equipment and specialised machinery used for working at height, construction, infrastructure development and industrial maintenance.
Part of the broader Mtandt Group, the company provides equipment through rental, leasing and sales arrangements, helping businesses access specialised machinery without necessarily having to purchase and maintain it themselves. Its offerings focus on improving workplace safety, operational efficiency and productivity across construction, manufacturing, warehousing, energy and infrastructure industries.
Introduction & Infrastructure
Mtandt Rentals operates through an equipment distribution, rental and service network serving customers across India. Its operations are supported by equipment yards, manufacturing and assembly capabilities, maintenance facilities, service teams and customer support infrastructure.
The company has its registered office and operational presence in Tamil Nadu, with a manufacturing facility at the Yamuna Expressway Industrial Development Authority (YEIDA) area in Jewar, Uttar Pradesh.
Key infrastructure and operational capabilities include:
Equipment rental and sales operations across India.
Manufacturing and supply of selected access and industrial equipment.
Equipment maintenance, repair and servicing capabilities.
Equipment mobilisation, delivery and collection for rental customers.
Nationwide customer support and distribution network.
Technical partnerships with international equipment manufacturers.
Safety-focused equipment inspection and maintenance processes.
Business Model & Operational Verticals
Mtandt Rentals follows an equipment rental, sales and industrial solutions model, serving businesses that require specialised equipment for specific projects or ongoing operations.
Key Business Verticals
Equipment Rentals
Short-term and long-term rental of aerial work platforms and access equipment.
Equipment supplied for construction, maintenance, industrial and infrastructure projects.
Rental arrangements tailored to project duration and operational requirements.
Equipment Sales
Sale of new and selected used equipment.
Supply of access platforms, lifting equipment and other specialised machinery.
Equipment solutions for customers requiring long-term ownership.
Aerial Work Platforms
Scissor lifts, boom lifts, spider lifts and vertical mast lifts.
Equipment for working safely at elevated heights.
Solutions for construction, building maintenance and industrial installations.
Material Handling & Lifting Equipment
Passenger and material hoists.
Tower cranes and selected lifting solutions.
Equipment used for construction, warehousing and industrial operations.
Temporary Access & Ground Protection
Temporary road mats and ground-protection systems.
Solutions for creating temporary access routes on challenging terrain.
Applications across infrastructure, utilities, construction and events.
Maintenance & Technical Services
Equipment inspection, preventive maintenance and repair.
Technical support to improve equipment availability.
Servicing and asset-management support for industrial customers.
Management Details
Mtandt Rentals Limited operates under the leadership of the Modi family and a professional management team with experience in industrial equipment, access solutions, manufacturing and rental services.
Key Leadership
| Name | Role |
|---|---|
| Rakesh Modi | Chairman |
| Mukesh Modi | Director |
| Gopal Modi | Director |
| Siddharth Modi | Executive Director |
| Harsh Modi | Commercial Director |
| Jenny Modi | Chief Operating Officer |
The management team oversees equipment sourcing, rental operations, manufacturing, sales, customer service, technical support and business development.
Key Product & Equipment Portfolio
| Product Category | Key Equipment & Applications |
|---|---|
| Scissor Lifts | Vertical access for installation, maintenance, warehousing and construction |
| Boom Lifts | Articulating and telescopic platforms for elevated and difficult-to-reach work areas |
| Spider Lifts | Compact access platforms for confined spaces and sensitive surfaces |
| Vertical Mast Lifts | Compact personnel-lifting solutions for indoor maintenance and industrial applications |
| Mobile Elevating Work Platforms (MEWPs) | Equipment for safe access to elevated work areas |
| Aluminium Scaffolding | Temporary work platforms for construction, maintenance and installation |
| Passenger & Material Hoists | Vertical transportation of personnel and materials at construction sites |
| Tower Cranes | Lifting equipment for building construction and major infrastructure projects |
| Temporary Road Mats | Ground protection and temporary access for heavy vehicles and equipment |
| Mobile Light Towers | Portable lighting for construction sites, infrastructure projects and outdoor operations |
| Mobile Power Stations | Portable power solutions for selected industrial and site applications |
| Material Handling Equipment | Equipment for lifting, moving and positioning materials |
Engineering, Safety & Maintenance Capabilities
Mtandt Rentals focuses on providing equipment designed to improve workplace access, safety and productivity. Its services extend beyond equipment supply to include technical support, maintenance and operator-related assistance.
Key capabilities include:
Equipment selection based on project requirements.
Preventive maintenance and repair services.
Equipment inspection and operational checks.
Technical support for equipment installation and use.
Equipment servicing and lifecycle management.
Safety-focused access solutions for elevated work.
Equipment operator training through relevant group capabilities.
Technical collaboration with specialised equipment manufacturers.
These capabilities help customers improve equipment utilisation, reduce operational interruptions and support safer work practices.
Customer & Industry Ecosystem
Mtandt Rentals serves industries where elevated access, material handling, temporary infrastructure and specialised equipment are essential for daily operations.
Its key customer segments include:
Construction and real estate companies.
Infrastructure and engineering contractors.
Manufacturing plants and industrial facilities.
Warehousing and logistics operators.
Oil and gas companies.
Power generation and transmission businesses.
Airports, railways and metro infrastructure projects.
Facility management companies.
Utilities and telecommunications operators.
Event and exhibition infrastructure providers.
The company's rental model is particularly relevant for customers that require specialised machinery for a defined period or project and prefer to avoid the full ownership and maintenance burden.
Key Business Highlights
Incorporated in 2009 and part of the broader Mtandt Group.
Specialises in aerial access equipment, lifting solutions and industrial equipment rentals.
Offers equipment through rental, leasing and sales arrangements.
Provides scissor lifts, boom lifts, spider lifts, scaffolding and other access equipment.
Offers temporary road mats, mobile light towers and selected power solutions.
Supports construction, infrastructure, manufacturing, warehousing, energy and facility-management sectors.
Combines equipment supply with maintenance, repair and technical support.
Benefits from the wider Mtandt Group's experience across industrial safety and access solutions.
Maintains a nationwide customer-service and equipment-distribution presence.
Positioned in India's equipment rental and industrial access-solutions market, where specialised machinery supports workplace safety, project execution and operational productivity.
Insights of Mtandt Rentals Limited
Mtandt Rentals Limited
1. Financial Highlights
| Particulars (₹ Cr) | FY25 | FY26 | YoY Change |
|---|---|---|---|
| Net Revenue | 224.45 | 366.67 | +63.4% |
| Total Operating Cost | 139.55 | 236.00 | +69.1% |
| Operating Profit (EBITDA) | 84.90 | 130.67 | +53.9% |
| Other Income | 10.94 | 24.34 | +122.5% |
| Depreciation | 39.31 | 61.15 | +55.6% |
| Finance Costs | 15.99 | 24.78 | +55.0% |
| Profit Before Tax (PBT) | 40.55 | 69.07 | +70.3% |
| Profit After Tax (PAT) | 30.44 | 52.64 | +72.9% |
2. What the Numbers Tell Us
Revenue grew strongly.
Mtandt Rentals’ consolidated revenue increased from ₹224.45 Cr in FY25 to ₹366.67 Cr in FY26, representing growth of 63.4%. This indicates a substantial expansion in reported business activity. As the company operates in the equipment rental space, investors may want to examine rental fleet utilisation, additions to the fleet and demand from infrastructure and industrial customers to understand the drivers of growth.
Operating profit increased, but margins moderated slightly.
EBITDA rose 53.9% to ₹130.67 Cr. However, operating costs grew by 69.1%, faster than revenue growth. Consequently, the EBITDA margin declined from approximately 37.8% in FY25 to 35.6% in FY26.
Although the company generated higher operating profit in absolute terms, the reduction in margin suggests that costs absorbed a larger proportion of revenue. Investors should monitor whether this trend continues.
Other income more than doubled.
Other income increased from ₹10.94 Cr to ₹24.34 Cr, a rise of approximately 122.5%. This contributed to overall earnings. However, investors should examine its composition before assuming that this income will recur at the same level.
Depreciation and finance costs increased significantly.
Depreciation rose 55.6% to ₹61.15 Cr, potentially reflecting a larger depreciable asset base or other accounting factors.
Finance costs increased 55.0% to ₹24.78 Cr, indicating a higher financing expense.
For an equipment rental company, depreciation is an important expense because rental equipment loses value over time. The increase in finance costs also makes it important to assess debt levels, funding requirements and cash generation.
Net profit grew faster than revenue.
PBT increased 70.3% to ₹69.07 Cr, while PAT rose 72.9% to ₹52.64 Cr. This represents strong bottom-line growth. The increase in other income appears to have supported earnings, while the sustainability of the improvement should be assessed alongside operating margins and financing costs.
3. Key Financial Observations
Strong business expansion
Revenue increased 63.4% to ₹366.67 Cr, demonstrating substantial growth in the company's reported scale.
Margin pressure despite higher EBITDA
EBITDA increased 53.9%, but its margin fell by around 2.2 percentage points because operating costs grew faster than revenue.
Higher asset and funding costs
Depreciation and finance costs both increased by around 55%. Investors should examine whether fleet expansion and associated borrowing are generating sufficient returns and cash flow.
4. Key Takeaways
Revenue: Increased 63.4% to ₹366.67 Cr.
EBITDA: Rose 53.9% to ₹130.67 Cr.
EBITDA margin: Moderated from 37.8% to 35.6%.
PBT: Increased 70.3% to ₹69.07 Cr.
PAT: Grew 72.9% to ₹52.64 Cr.
Key concern: Depreciation and finance costs rose significantly, while operating costs grew faster than revenue.
What investors should monitor: Fleet utilisation, rental demand, capital expenditure, debt levels, cash flow and operating margins.
Overall view: Mtandt Rentals delivered strong revenue and profit growth in FY26, indicating an expansion in its reported business scale. However, faster operating-cost growth and higher depreciation and finance costs warrant attention. The key question is whether the company can sustain growth while improving margins and generating sufficient cash flow to support its asset-intensive rental business.
Financial Charts of Mtandt Rentals Limited
Balance Sheet of Mtandt Rentals Limited
Profit and Loss of Mtandt Rentals Limited
Ancillary of Mtandt Rentals Limited
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Mtandt Rentals Limited
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How to buy Mtandt Rentals Limited?
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How to sell Mtandt Rentals Limited?
Below are three ways through which you can sell Mtandt Rentals Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Mtandt Rentals Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Mtandt Rentals Limited?
We provide a two way quote on all the shares we deal in. Your buy price for Mtandt Rentals Limited is ₹550 and your sell price for Mtandt Rentals Limited is ₹475. The price is based on our estimates and market conditions.
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What is the lock-in period of Mtandt Rentals Limited?
The lock-in period for Mtandt Rentals Limited varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Mtandt Rentals Limited
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Mtandt Rentals Limited
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Mtandt Rentals Limited price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Mtandt Rentals Limited. The price is also determined from the most recent funding round for Mtandt Rentals Limited. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Mtandt Rentals Limited?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Mtandt Rentals Limited with us kindly click here.
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What are the financials of Mtandt Rentals Limited?
The financials of Mtandt Rentals Limited which includes the P/L of Mtandt Rentals Limited and the Balance Sheet of Mtandt Rentals Limited is in the financials section (Click on link).
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Where can I find the annual report of Mtandt Rentals Limited?
The annual report of Mtandt Rentals Limited is available in the annual report section (Click on link).
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Is buying Mtandt Rentals Limited legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Mtandt Rentals Limited?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Mtandt Rentals Limited and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Mtandt Rentals Limited once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Mtandt Rentals Limited?
At Altius Investech, our approach to sourcing Mtandt Rentals Limited unlisted shares involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Mtandt Rentals Limited unlisted shares. This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Mtandt Rentals Limited from its platform?
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With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
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