MTandT Rentals Limited
1 MAbout MTandT Rentals Limited
A Comprehensive Overview of Price & Journey
Understanding MTandT Rentals Limited Inception and Growth
MTandT RENTALS LIMITED UNLISTED SHARE
MTandT Rentals Limited is an unlisted company trading in the private market. Unlike listed companies, valuation and share price of unlisted or pre-IPO companies is determined via negotiation and demand & supply MTandT Rentals Limited Company Limited unlisted share.
Investors looking for diversification of their portfolio should carefully analyse MTandT Rentals Limited unlisted share price, valuation and research report for the latest year. This is the comprehensive coverage of MTandT Rentals Limited unlisted share that answers simple questions of investors such as how to buy unlisted/ pre-IPO shares of MTandT Rentals Limited, what are does MTandT Rentals Limited Company Limited do and how has MTandT Rentals Limited performed in the recent years.
WHAT DOES MTandT RENTALS LIMITED DO?
MTandT Rentals Limited is a leading Indian rental, sales, and service provider of industrial access, lifting, material handling, and temporary site infrastructure equipment. The company is primarily more focused on Mobile Elevating Work Platforms such as boom lifts, equipment maintenance, operator training, spider lifts and technical support.
WHAT ARE THE BUSNIESS SEGMENTS OF MTandT RENTALS LIMITED?
MTandT Rentals operates its entire business under the following verticals:
1.Aerial Work Platforms is designed for safe elevation and high-reach industrial application. Key products offerings within this vertical include:
- Scissor Lifts: This is used for indoor construction where uneven or difficult terrain makes conventional access equipment unsuitable.
- Boom Lifts: Articulating and telescopic booms offering both vertical heights and horizontal reach.
- Spider and Vertical lifts: This is used for narrow, confined spaces or sensitive indoor flooring to uplift the machines or workers.
2.Material Handling Equipment is designed to move heavy machinery and industrial materials efficiently across construction sites. Key products offerings within this vertical include: Duct Lifters and Order Pickers: It is designed for efficient vertical lifting, positioning and material handling in warehouse and construction environment.
3.Aluminum Scaffolding light weight modular access system is designed to provide for flexible working platforms for construction and maintenance. Key products offerings within this vertical include: Mobile tower scaffolds, stairway towers, and specialized low reach platforms built for safe temporary work access.
4.Temporary Road Mats & Ground Protection are surface protection system that is designed to protect fragile turf, soil, and soft condition from heavy vehicle traffic. Key products offerings within this vertical include: PortaDeck and PortaMat is heavy duty composite mats that creates temporary access roads, working platforms and stages area for construction and work sites.
HOW HAS MTandT RENTALS LIMITED PERFORMED IN THE LAST TWO YEARS?
Metric
FY 2023-24
FY 2024-25
Revenue from operations
₹162.77 Cr
₹221.93 Cr
Profit After Tax (PAT)
₹13.80 Cr
₹30.44 Cr
Net Worth
₹61.99 Cr
₹154.49 Cr
Total Assets
₹263.48 Cr
₹446.98 Cr
Net Cash Flow from Operating Activities
₹52.65 Cr
₹31.25 Cr
PERFORMANCE ANALYSIS
Growth was driven by strong demand in rental services for boom lifts, scissor lift and temporary access nets, this segment offers the high operating margins.
Net worth increased due the issuance of equity shares through private placement.
Total assets is increased by aggressive capital deployment into property, plant and equipment to build out the rental assets fleet. Substantial portion of cash was absorbed in working capital, primarily driven by an increase in trade receivables.
In FY 2024-25, ROCE reached to 37%, indicating high efficiency in generating returns from its long term capital investment.
KEY HIGHLIGHTS
On March 20, 2025, MTandT Rentals Limited subscribed to a 50% equity stake in newly incorporated joint venture, Ironlink Rail Alliance Private Limited. The company is expanding its business in railway infrastructure mainly focus on Mobile Elevating Work Platforms (MEWPs). These platforms are designed to safely lift workers and equipment to elevated areas, supporting the railway construction and maintenance activities.
In April,2026, MTandT Rentals Limited secures ₹100 Crore equity investment from ValueQuest, this investment will enable MTandT to expand its equipment fleet and enhance service capabilities, strengthening the company’s capacity to serve large scale infrastructure and industrial projects. The company has demonstrated strong growth trend with a CAGR of over 48% during FY21-25.
ACCELERATING GROWTH THROUGH FLEET EXPANSION
MTandT announced a ₹1,000 Crore Capital Expenditure plan for Financial Year 2026-2027. This investment will drive the expansion of its Mobile Elevating Work Platforms and spider lift fleet from the current 2,000 units and 4,000 units effectively doubling its rental inventory within a financial year.
KEY CHALLENGES
High Capital Intensity and fleet Reinvestment: This business requires continuous large scale capital expenditure to acquire and maintain heavy machinery and Aerial work platforms. In FY 2024-25, the company’s PPE increased from ₹174.66 Crores to ₹255.17 Crores. To support its capital requirement company has raised ₹62 Crore through private placement in FY2025.
Working Capital Absorption: In FY2024-25, Trade Receivables doubled from ₹51.53 Crores to ₹108.57 Crores. A sharp increase in Trade Receivables has absorbed significant operating liquidity creating a divergence between reported profits and the actual cash generated by the business.
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MTandT RENTALS LIMITED UNLISTED SHARE
MTandT Rentals Limited is an unlisted company trading in the private market. Unlike listed companies, valuation and share price of unlisted or pre-IPO companies is determined via negotiation and demand & supply MTandT Rentals Limited Company Limited unlisted share.
Investors looking for diversification of their portfolio should carefully analyse MTandT Rentals Limited unlisted share price, valuation and research report for the latest year. This is the comprehensive coverage of MTandT Rentals Limited unlisted share that answers simple questions of investors such as how to buy unlisted/ pre-IPO shares of MTandT Rentals Limited, what are does MTandT Rentals Limited Company Limited do and how has MTandT Rentals Limited performed in the recent years.
WHAT DOES MTandT RENTALS LIMITED DO?
MTandT Rentals Limited is a leading Indian rental, sales, and service provider of industrial access, lifting, material handling, and temporary site infrastructure equipment. The company is primarily more focused on Mobile Elevating Work Platforms such as boom lifts, equipment maintenance, operator training, spider lifts and technical support.
WHAT ARE THE BUSNIESS SEGMENTS OF MTandT RENTALS LIMITED?
MTandT Rentals operates its entire business under the following verticals:
1.Aerial Work Platforms is designed for safe elevation and high-reach industrial application. Key products offerings within this vertical include:
- Scissor Lifts: This is used for indoor construction where uneven or difficult terrain makes conventional access equipment unsuitable.
- Boom Lifts: Articulating and telescopic booms offering both vertical heights and horizontal reach.
- Spider and Vertical lifts: This is used for narrow, confined spaces or sensitive indoor flooring to uplift the machines or workers.
2.Material Handling Equipment is designed to move heavy machinery and industrial materials efficiently across construction sites. Key products offerings within this vertical include: Duct Lifters and Order Pickers: It is designed for efficient vertical lifting, positioning and material handling in warehouse and construction environment.
3.Aluminum Scaffolding light weight modular access system is designed to provide for flexible working platforms for construction and maintenance. Key products offerings within this vertical include: Mobile tower scaffolds, stairway towers, and specialized low reach platforms built for safe temporary work access.
4.Temporary Road Mats & Ground Protection are surface protection system that is designed to protect fragile turf, soil, and soft condition from heavy vehicle traffic. Key products offerings within this vertical include: PortaDeck and PortaMat is heavy duty composite mats that creates temporary access roads, working platforms and stages area for construction and work sites.
HOW HAS MTandT RENTALS LIMITED PERFORMED IN THE LAST TWO YEARS?
|
Metric |
FY 2023-24 |
FY 2024-25 |
|
Revenue from operations |
₹162.77 Cr |
₹221.93 Cr |
|
Profit After Tax (PAT) |
₹13.80 Cr |
₹30.44 Cr |
|
Net Worth |
₹61.99 Cr |
₹154.49 Cr |
|
Total Assets |
₹263.48 Cr |
₹446.98 Cr |
|
Net Cash Flow from Operating Activities |
₹52.65 Cr |
₹31.25 Cr |
PERFORMANCE ANALYSIS
Growth was driven by strong demand in rental services for boom lifts, scissor lift and temporary access nets, this segment offers the high operating margins.
Net worth increased due the issuance of equity shares through private placement.
Total assets is increased by aggressive capital deployment into property, plant and equipment to build out the rental assets fleet. Substantial portion of cash was absorbed in working capital, primarily driven by an increase in trade receivables.
In FY 2024-25, ROCE reached to 37%, indicating high efficiency in generating returns from its long term capital investment.
KEY HIGHLIGHTS
On March 20, 2025, MTandT Rentals Limited subscribed to a 50% equity stake in newly incorporated joint venture, Ironlink Rail Alliance Private Limited. The company is expanding its business in railway infrastructure mainly focus on Mobile Elevating Work Platforms (MEWPs). These platforms are designed to safely lift workers and equipment to elevated areas, supporting the railway construction and maintenance activities.
In April,2026, MTandT Rentals Limited secures ₹100 Crore equity investment from ValueQuest, this investment will enable MTandT to expand its equipment fleet and enhance service capabilities, strengthening the company’s capacity to serve large scale infrastructure and industrial projects. The company has demonstrated strong growth trend with a CAGR of over 48% during FY21-25.
ACCELERATING GROWTH THROUGH FLEET EXPANSION
MTandT announced a ₹1,000 Crore Capital Expenditure plan for Financial Year 2026-2027. This investment will drive the expansion of its Mobile Elevating Work Platforms and spider lift fleet from the current 2,000 units and 4,000 units effectively doubling its rental inventory within a financial year.
KEY CHALLENGES
High Capital Intensity and fleet Reinvestment: This business requires continuous large scale capital expenditure to acquire and maintain heavy machinery and Aerial work platforms. In FY 2024-25, the company’s PPE increased from ₹174.66 Crores to ₹255.17 Crores. To support its capital requirement company has raised ₹62 Crore through private placement in FY2025.
Working Capital Absorption: In FY2024-25, Trade Receivables doubled from ₹51.53 Crores to ₹108.57 Crores. A sharp increase in Trade Receivables has absorbed significant operating liquidity creating a divergence between reported profits and the actual cash generated by the business.
Fundamentals
Financials
All values are INR Cr except per share value
Revenue Growth
PAT Growth %
EPS Growth %
TOTAL ASSETS Growth %
QUICK RATIO Growth %
LONG TERM DEBT TO EQUITY RATIO Growth %
Shareholding Pattern
2026
| Name | Designation | Share % |
|---|---|---|
| Mr. Rakesh Modi | Chairman | 15.08% |
| Mr. Mukesh Modi | managing director | 13.21% |
| Mrs. Sangeetha Modi | Director | 11.66% |
| Mrs. Parul Modi | Shareholder | 9.79% |
| Mavira Growth Opportunities Fund | Alternate Investment Fund (AIF) / Investor | 1.65% |
| Other | Other | 18.73% |
| Mrs. Sarada Modi | Shareholder | 4.52% |
| Invicta Continuum Fund I | Alternate Investment Fund (AIF) / Investor | 4.13% |
| Funds & Institutional Investors | (NA) | 6.06% |
| Finavenue Growth Fund | Institutional Growth Fund / Investor | 0.28% |
| Mr. Gopal Modi | Director | 14.89% |
Events
| Name | Date | Details |
|---|---|---|
| No events available. | ||
Frequently Asked Questions
Like any other financial product or commodity, the price of unlisted shares is discovered at the intersection of demand from buyers and supply from sellers of particular unlisted shares.
The two determinants of price are dynamic factors and keep changing constantly, hence share price tends to fluctuate constantly – every day, every minute.
Upon successful completion of a deal, the unlisted shares are credited electronically directly to your standard demat account that is usually created with CDSL or NSDL (Central Depository Services Limited or National Securities Depository Limited).
The lock-in period of MTandT Rentals Limited varies depending on the category of the investor:
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Venture capital or foreign venture capital investors are subject to lock-in period of 6 months from the date of acquisition of shares
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For AIF investors of Category-II are not subject to any lock-in.
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Any other investor, including retail investors, HNI or corporate investors are subject to a lock-in period of 6 months from the date of listing.
Note – The above-mentioned lock-in is for mainboard, however for SME IPO the applicable lock-in period is 1 Year.
There is no regulatory minimum limit to invest in unlisted shares. However, minimum investment size varies with the per share price. Earlier, the typical investment size often ranges between 70K – 100K, but with the growing awareness and increased participation the investment size has been down sized to 50k.
Short-Term Capital Gain tax is applicable when you sell your unlisted shares within a year from date of acquisition. Realized gain is taxable at your slab rate after consolidating in total income for the year. Hence, the rate of tax depends on your overall income for the particular financial year.
Long-Term Capital Gain taxes are applicable when you sell your unlisted shares after two years from the date of acquisition. LTCG tax is calculated on profits realized on sale of unlisted shares at 12.5%. Investors particularly retail or HNI must understand the concept clearly as it impacts strategy and tax planning.
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You can dowload the NSDL or CDSL application and login into the account and check whether the shares have been credited or not.
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Credit of Unlisted Shares/Pre-IPO shares can be checked in brokers application as well but it takes T+2 days to show the shares.
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You would also get email confirmation of credit of shares via email
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The value of share in unlisted space is determined in the same way as it is done in the listed market. Demand and supply decide the price of any share. If the demand is more than the supply, then the price of the share increases and vice versa.
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When a new share is introduced in the unlisted space, the value of the company is decided upon the last funding raised by the company. If the company hasn’t raised any funding in the past, then the valuation is decided upon the fundamentals of the company.
Yes, investing in unlisted shares is legal in India, the activity is regulated and governed under the rules and guidelines laid by SEBI (Securities and Exchange Board of India). Related parties must comply with the regulations and guidelines to ensure legal and financial standards.
Investing in unlisted shares in India carries a significant and distinctive risk profile such as limited liquidity, lack of transparent pricing and regulatory oversight because unlisted shares do not trade on listed stock exchange, they are bought or sold in OTC (over the counter) market that makes vulnerable to following risks:
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Liquidity risk, unlisted shares are difficult to buy and sell,
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Lack of transparent pricing, as share price of pre-IPO or unl;isted company is often determined by narrative not fundamentals
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Lack of information disclosure, unlisted companies are not mandated for disclosures like listed companies
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Tax ambiguity, because determination of fair market value and cost of acquisition of unlisted shares is often disputed
Hence, investors should carefully examine related facts before investing in Pre-IPO or unlisted shares.