Mahamaya Steel Inds Ltd
NSE: MAHASTEEL · Iron & Steel Products · sector
₹1,492.00NSE close 2026-10-26
Key numbers
Market cap₹2,452 cr
Price₹1,492.00
52w high / low₹1,492 / ₹551
P/E245.0xSector median 15.5x
P/B15.4xSector median 1.7x
Book value₹96.6
Dividend yield–Sector median 0.60%
ROE6.5%Sector median 11.1%
ROCE8.0%Sector median 11.9%
OPM2.6%Sector median 6.7%
Debt / equity0.37xSector median 0.21x
EV/EBITDA102.1xSector median 11.8x
Interest cover3.8x
Current ratio1.41x
Sales growth 3y+10.8%Sector median +2.1%
Profit growth 3y+20.8%Sector median +13.0%
PEG11.75x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹0 cr vs borrowings ₹58 cr (FY26): borrowings are higher by ₹58 cr.
- Operating profit covered interest 3.8x in the last 12 months.
- Operating cash flow was below net profit in 2 of the last 5 years (FY26, FY23).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 16% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹1,492.00 on 2026-10-26: 0.0% from the 52-week high, +170.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,492.00 · low ₹191.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 155 | 200 | 236 | 207 | 189 | 224 | 263 | 268 |
| EBITDA | 3 | 4 | 8 | 6 | 5 | 6 | 8 | 6 |
| OPM % | 2.1% | 2.1% | 3.3% | 2.7% | 2.7% | 2.6% | 3.0% | 2.2% |
| Other income | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 |
| Net profit | 0 | 1 | 5 | 2 | 2 | 2 | 4 | 2 |
| EPS (₹) | 0.14 | 0.66 | 3.29 | 1.06 | 1.15 | 1.16 | 2.48 | 1.30 |
| Revenue YoY | +21.9% | +12.2% | +11.4% | +29.3% | ||||
| Profit YoY | +717.4% | +75.2% | -24.8% | +22.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 495 | 650 | 784 | 802 | 883 | 943 |
| EBITDA | 15 | 15 | 17 | 19 | 24 | 25 |
| Net profit | 5 | 5 | 7 | 8 | 10 | 10 |
| EPS (₹) | 3.31 | 3.31 | 4.09 | 4.62 | 5.84 | 6.09 |
| Revenue growth | +31.2% | +20.6% | +2.3% | +10.1% | +18.3% | |
| Profit growth | +11.0% | +23.5% | +13.1% | +26.3% | +18.0% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +10.8% | +28.6% | +18.3% |
| Net profit | +20.8% | +61.3% | +18.0% |
| EPS | +20.8% | +56.1% | – |
| Share price | – | +149.3% (2y) | +139.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 134 | 141 | 149 | 159 |
| Borrowings | – | 43 | 41 | 46 | 58 |
| Cash & equivalents | – | 0 | 1 | 1 | 0 |
| Total assets | – | 225 | 233 | 244 | 270 |
| Fixed assets | – | 65 | 69 | 70 | 73 |
| Capital work in progress | – | 0 | 0 | – | – |
| Investments | – | 30 | 26 | 27 | 28 |
| Receivables | – | 18 | 15 | 25 | 18 |
| Inventory | – | 80 | 87 | 81 | 110 |
| Payables | – | 18 | 14 | 24 | 24 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 42 | 2 | 14 | 9 | 8 |
| Cash from investing | -5 | -11 | -6 | -11 | -15 |
| Cash from financing | -24 | -5 | -8 | 1 | 7 |
| Capex | 5 | 11 | 9 | 9 | 11 |
| Free cash flow | 37 | -9 | 5 | -0 | -3 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 4.1% | 4.8% | 5.1% | 6.0% |
| ROCE % | – | 5.2% | 6.5% | 6.4% | 7.9% |
| Debtor days | – | 10 | 7 | 11 | 7 |
| Inventory days | – | 55 | 49 | 45 | 58 |
| Payable days | – | 12 | 8 | 14 | 13 |
| Cash conversion cycle (days) | – | 53 | 48 | 42 | 52 |
| Working capital days | – | 26 | 22 | 18 | 16 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 72.80% |
| FIIs | 0.09% |
| DIIs | 0.00% |
| Public (non-institutions) | 27.10% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 73.41% | 73.41% | 72.80% | 72.80% | 72.80% | 72.80% | 72.80% | 72.80% |
| Promoter group | % |
|---|---|
| Escort Finvest Private Limited | 24.95% |
| Rajesh Agrawal | 20.50% |
| Abhishek Steel Industries Private Limited | 8.21% |
| Rekha Agrawal | 7.10% |
| Rajesh Agrawal HUF (Rajesh Agrawal) | 6.33% |
| Abhishek Agrawal | 4.93% |
| Ramanand Agrawal HUF (Ramanand Agrawal) | 0.78% |
| Ramanand Agrawal | 0.00% |
| Public holders above 1% | % |
|---|---|
| Vijay Rathee | 7.13% |
| Kuldip Singh Rathee | 4.31% |
| Invetsor Education and Protection Fund | 1.54% |
| Prashant P Sawant | 1.31% |
6,116 shareholders. Pledged: – of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| MAHASTEEL | ₹2,452 cr | 245.0x | 15.4x | 6.5% | 8.0% | 2.6% | +10.8% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-07-22 | Other | Annual General Meeting |
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-22 | Other | Annual General Meeting |
| 2021-09-16 | Other | Annual General Meeting |
| 2020-12-15 | Other | Annual General Meeting |
| 2019-09-19 | Other | Annual General Meeting |
| 2018-08-03 | Other | Annual General Meeting |
| 2017-09-21 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | MAHASTEEL |
| BSE code | 513554 |
| ISIN | INE451L01014 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.