Maithan Alloys Ltd
NSE: MAITHANALL · Ferro & Silica Manganese · sector
₹763.30NSE close 2026-10-26
Key numbers
Market cap₹2,222 cr
Price₹763.30
52w high / low₹1,210 / ₹763
P/E7.7xSector median 7.0x
P/B0.5xSector median 1.4x
Book value₹1,424.2
Dividend yield1.71%Sector median 1.32%
ROE7.4%Sector median 7.3%
ROCE10.1%Sector median 10.1%
OPM13.7%Sector median 10.7%
Debt / equity0.06xSector median 0.13x
EV/EBITDA2.5xSector median 3.2x
Interest cover12.2x
Current ratio6.24x
Sales growth 3y-9.0%Sector median -9.0%
Profit growth 3y-4.6%Sector median -4.6%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 9 companies in Ferro & Silica Manganese (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹1,760 cr vs borrowings ₹235 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 12.2x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY25, FY24, FY22).
- Net loss in 3 of the last 8 quarters.
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 62% of net profit in the last 12 months.
- Debtor days went from 82 (FY24) to 22 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹763.30 on 2026-10-26: -36.9% from the 52-week high, 0.0% 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 ₹1,234.10 · low ₹763.30
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 464 | 531 | 435 | 632 | 491 | 490 | 559 | 540 |
| EBITDA | 49 | 29 | 76 | 65 | 32 | 55 | 106 | 91 |
| OPM % | 10.6% | 5.5% | 17.6% | 10.3% | 6.5% | 11.3% | 19.0% | 16.8% |
| Other income | 179 | 97 | -116 | 649 | -153 | 76 | -159 | 417 |
| Net profit | 144 | 91 | -61 | 536 | -121 | 89 | -70 | 393 |
| EPS (₹) | 49.41 | 31.20 | -20.96 | 184.17 | -41.55 | 30.55 | -24.21 | 135.01 |
| Revenue YoY | +5.7% | -7.7% | +28.5% | -14.7% | ||||
| Profit YoY | -184.1% | -2.1% | – | -26.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,992 | 2,885 | 1,729 | 1,806 | 2,173 | 2,080 |
| EBITDA | 1,068 | 484 | 114 | 177 | 259 | 285 |
| Net profit | 818 | 499 | 349 | 630 | 434 | 291 |
| EPS (₹) | 281.00 | 171.41 | 119.87 | 216.47 | 148.96 | 99.80 |
| Revenue growth | -3.6% | -40.1% | +4.5% | +20.3% | +0.8% | |
| Profit growth | -39.0% | -30.1% | +80.6% | -31.2% | -59.1% | |
| Dividend / share (₹) | 6.00 | 6.00 | 6.00 | 9.00 | 13.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -9.0% | +6.0% | +0.8% |
| Net profit | -4.6% | +13.4% | -59.1% |
| EPS | -4.6% | +13.5% | – |
| Share price | – | -10.4% (2y) | -24.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 2,804 | 3,142 | 3,746 | 4,146 |
| Borrowings | – | 16 | 27 | 585 | 235 |
| Cash & equivalents | – | 1,994 | 1,806 | 2,039 | 1,760 |
| Total assets | – | 3,140 | 3,468 | 4,849 | 4,894 |
| Fixed assets | – | 250 | 236 | 296 | 288 |
| Capital work in progress | – | 2 | 54 | 1 | 1 |
| Investments | – | 5 | 60 | 1,076 | 1,187 |
| Receivables | – | 423 | 387 | 143 | 130 |
| Inventory | – | 304 | 350 | 1,086 | 1,247 |
| Payables | – | 150 | 88 | 133 | 87 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 237 | 968 | -411 | 50 | -10 |
| Cash from investing | -105 | -962 | 371 | -591 | 481 |
| Cash from financing | -62 | -5 | -9 | 522 | -434 |
| Capex | 100 | 11 | 69 | 30 | 25 |
| Free cash flow | 136 | 957 | -480 | 20 | -35 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 17.8% | 11.1% | 16.8% | 10.5% |
| ROCE % | – | 22.7% | 14.2% | 20.2% | 14.8% |
| Debtor days | – | 54 | 82 | 29 | 22 |
| Inventory days | – | 81 | 141 | 393 | 428 |
| Payable days | – | 40 | 35 | 48 | 30 |
| Cash conversion cycle (days) | – | 95 | 188 | 374 | 420 |
| Working capital days | – | 315 | 587 | 509 | 470 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.96% |
| FIIs | 0.70% |
| DIIs | 0.00% |
| Public (non-institutions) | 24.33% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.99% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% | 74.96% |
| Promoter group | % |
|---|---|
| Subhas Chandra Agarwalla | 25.63% |
| Sheela Devi Agarwalla | 25.63% |
| Siddhartha Shankar Agarwalla | 16.80% |
| Prahlad RAI Agarwalla | 2.38% |
| Sarita Devi Agarwalla | 2.29% |
| Sonam Agarwalla | 1.27% |
| Prahlad RAI Agarwalla HUF | 0.37% |
| Subodh Agarwalla | 0.17% |
| Sudhanshu Agarwalla | 0.17% |
| Tripti Agarwalla | 0.09% |
| Mitu Agarwalla | 0.09% |
| Avinash Agarwalla | 0.07% |
41,615 shareholders. Pledged: 0.00% of promoter shares.
Peers in Ferro & Silica Manganese
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| IMFA | ₹5,842 cr | 11.1x | 2.1x | 20.7% | 20.0% | 23.6% | +1.8% | 0.93% |
| MAITHANALL | ₹2,222 cr | 7.7x | 0.5x | 7.4% | 10.1% | 13.7% | -9.0% | 1.71% |
| VISACHROME | ₹454 cr | 0.4x | – | – | 795.8% | 213.0% | -5.1% | – |
| NCML | ₹240 cr | 22.8x | 2.9x | 12.5% | 21.5% | 10.7% | – | – |
| NAGPI | ₹178 cr | 49.3x | 2.1x | -3.2% | 0.6% | -0.2% | – | – |
| SHYAMCENT | ₹99 cr | – | 0.6x | -3.6% | -5.4% | -166.4% | -50.2% | – |
| INDSILHYD | ₹88 cr | 6.3x | 0.4x | 7.3% | 7.2% | 9.3% | -5.0% | – |
| CHROME | ₹62 cr | 6.3x | 4.1x | -49.2% | -19.9% | -628.1% | -81.7% | – |
| FACORALL | ₹57 cr | 1.8x | 0.6x | 11.6% | 20.2% | 1,294.2% | -83.4% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Ferro Alloys | ₹2,173 cr | 100.0% | ₹301 cr | 13.9% |
| Real Estate | ₹0 cr | – | ₹-0 cr | – |
| Unallocated | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-21 | Dividend | Dividend - Rs 6 Per Share |
| 2026-05-22 | Dividend | Interim Dividend - Rs 11 Per Share |
| 2025-09-19 | Dividend | Dividend - Rs 6 Per Share |
| 2025-06-06 | Dividend | Interim Dividend - Rs 7 Per Share |
| 2025-02-18 | Dividend | Interim Dividend - Rs 3 Per Share |
| 2024-09-20 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2023-09-18 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Share |
| 2022-09-20 | Dividend | Annual General Meeting/Dividend - Rs 6 Per Sh |
| 2021-09-22 | Dividend | Annual General Meeting/ Dividend Rs 6 Per Share |
| 2020-03-09 | Dividend | Interim Dividend - Rs 6 Per Share |
| 2019-08-09 | Dividend | Annual General Meeting/Dividend -Rs 6 Per Share |
| 2018-08-23 | Dividend | Annual General Meeting/Dividend- Rs 3 Per Share |
| 2017-08-16 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2016-08-19 | Other | Annual General Meeting |
| 2016-03-22 | Dividend | Interim Dividend - Rs 2/- Per Share |
| 2015-09-02 | Dividend | Annual General Meeting/ Dividend - Rs 2/- Per Share |
| 2015-07-15 | Bonus | Bonus 1:1 |
| 2014-09-16 | Dividend | Annual General Meeting / Dividend - Rs 2/- Per Share |
| 2013-07-18 | Dividend | Annual General Meeting / Dividend - Rs 2/- Per Share |
| 2012-09-13 | Dividend | Annual General Meeting And Dividend Rs.2/- Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing: Metal and metal products
- Trade: Whole sale trading
| Sector | Commodities |
| Industry | Ferro & Silica Manganese |
| Sub-industry | Ferro & Silica Manganese |
| Symbol | MAITHANALL |
| BSE code | 590078 |
| ISIN | INE683C01011 |
| Face value | ₹10.0 |
| Incorporated | 1985-09-19 |
| Website | www.maithanalloys.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
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.