āagman

Not investment advice. Data and computed figures, for information only.

Maharashtra Seamless Ltd

NSE: MAHSEAMLES
₹596.75
−₹8.85 (−1.46%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹9,589 Cr
CMP
₹596.75
52-wk High / Low
₹768 / 501
P/E
13.0
P/B
1.4
Book Value
₹513.0
Div Yield
1.40%
ROCE
14.0%
ROE
10.7%
Face Value
₹5
D/E
0.00

Price+2.2% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹777
√(22.5 × EPS × book value per share)
ROIC
6.1%
vs 12.3% sector median
Cash flow to profit
1.33
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+200
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
8.8%
ROE × earnings retention ratio
ROE stability
2.8
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.14DII +0.55
Latest quarter vs the previous one
Cash-accrual divergence
−3.1%
of assets
Low = accruals track cash flow
Strengths
+Borrowings are down 98.0% since FY2016 (665 to 13)
+Promoter holding rose by 2.5pp over the last year
+FII holding rose by 6.9pp over the last year
+PE of 13x is below the sector median of 43.6x
Watch-outs
−Latest ROCE of 14% trails the sector median of 19%
−Price trades below its 200-day moving average (1.0x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,2231,5351,4311,2151,1511,2921,4081,4181,1451,1591,0901,2801,091
Expenses9881,2071,0659451,0321,0651,1321,1339801,0409411,046912
Operating Profit235328366270119227276285165119149234179
OPM %19.2%21.4%25.6%22.2%10.3%17.6%19.6%20.1%14.4%10.3%13.7%18.3%16.4%
Other Income33303544659124016076200−51174
Interest7110111000111
Depreciation34262624252525252525293131
Profit before tax228331374290158292252299300169319151322
Net Profit207251276218129220186242230125243103266
EPS (₹)15.4218.6920.5916.309.6516.4213.8918.0617.199.3518.137.6719.88

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,3551,0191,4342,1503,0522,6452,3084,2115,7165,4045,2694,6744,620
Expenses1,2499801,2091,8392,3832,1351,8673,6284,7054,2054,3614,0053,939
Operating Profit105382253116695094415831,0111,199908669681
OPM %7.7%3.7%15.7%14.5%21.9%19.2%19.1%13.8%17.7%22.2%17.2%14.3%14.7%
Other Income74577699−117−197−9111188142196383399
Interest2026344239645645388333
Depreciation317171768088121138138110101110116
Profit before tax129−21962924331611735119241,2231,000939962
Net Profit118−24116200202115121692768952777701737
EPS (₹)8.79−1.819.2115.7317.486.267.3251.6257.0771.0058.0352.3455.03

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital343434343434343467676767—
Reserves2,7632,5492,6502,8963,0373,1713,2653,9514,7075,6646,2736,809—
Borrowings9166657036261,0591,1459227092440013—
Other Liabilities3134364704836668891,135695841852693849—
Total Liabilities4,0263,6843,8564,0394,7955,2395,3565,3885,8596,5837,0337,739—
Fixed Assets1,4721,1211,0951,2351,1732,3642,2682,1352,0161,9501,8621,862—
CWIP37311191723299131431473—
Investments1,3731,4441,5291,4611,2761,0071,0716461,1772,0982,8923,821—
Other Assets1,1431,0881,1131,3262,3221,8402,0082,5932,6512,5332,2651,983—
Total Assets4,0263,6843,8564,0394,7955,2395,3565,3885,8596,5837,0337,739—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity10412224193−183748447−2699121,041610933
Cash from Investing Activity−63012−10713−161−730−183563−386−722−486−775
Cash from Financing Activity527−141−133−953877−285−286−542−320−136−123
Net Cash Flow2−62104425−218−170−1335

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %3.00.06.09.018.011.09.012.020.023.017.014.0
ROE %———————————10.7
EPS (₹)8.79−1.819.2115.7317.486.267.3251.6257.0771.0058.0352.34
Book Value (₹)———————————513.0
Face Value (₹)———————————5
P/E———————————13.0
Div Yield %———————————1.40
NPM %8.3−2.27.78.96.94.75.516.013.217.214.213.9
OPM %8.03.816.014.022.019.019.014.018.022.017.014.0
D/E0.330.260.260.210.340.360.280.180.050.000.000.00
P/B———————————1.4

Growth

As of 27 Sep 2026
Compounded sales growth
10 years+16.0%
5 years+15.0%
3 years−6.0%
TTM−12.0%
Compounded profit growth
10 years+40.0%
5 years+29.0%
3 years−3.0%
TTM−16.0%
Stock price CAGR
10 years+21.0%
5 years+35.0%
3 years+5.0%
Last year+20.0%
Return on equity
10 years12.0%
5 years15.0%
3 years14.0%
Last year11.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.80%59.80%60.58%61.89%62.93%63.78%67.00%67.80%68.00%68.85%70.28%70.28%
FIIs7.58%7.58%3.25%2.23%1.55%0.91%1.15%2.84%11.96%9.63%9.58%9.72%
DIIs6.21%6.21%8.27%7.98%8.61%6.05%3.41%3.92%3.81%3.97%3.29%3.84%
Government0.00%0.00%0.53%0.59%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public26.41%26.41%27.37%27.31%26.91%29.26%28.44%25.43%16.22%17.54%16.83%16.17%
No. of shareholders22,96922,96921,62723,80622,75528,05327,64047,26169,6631,05,73788,78383,466
Change since Jun 2023 (pp)
Promoters +10.48FIIs +2.14DIIs −2.37Public −10.24

Documents

As of 27 Sep 2026
Announcements
Announcement under Regulation 30 (LODR)-Resignation of DirectorClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGM
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026PPTAug 2026RecordingFeb 2026TranscriptFeb 2026PPTNov 2025TranscriptNov 2025PPTAug 2025TranscriptAug 2025PPTJun 2025TranscriptJun 2025PPT

Corporate actions

As of 1 Sep 2026
1 Sep 2026DIVIDENDDividend - Rs 10 Per Share—
14 Aug 2025DIVIDENDDividend - Rs 10 Per Sh—
14 Aug 2024DIVIDENDDividend - Rs 10 Per Share—
14 Aug 2023DIVIDENDDividend - Rs 5 Per Share—
25 Nov 2022BONUSBonus 1:1—
7 Sep 2022DIVIDENDDividend - Rs 5 Per Share—
14 Sep 2021DIVIDEND Dividend - Rs 3.50 Per Share—
14 Sep 2020DIVIDEND Dividend - Rs 2.50 Per Share—
9 Sep 2019DIVIDEND Dividend - Rs 6 Per Share—
17 Sep 2018DIVIDEND Dividend Rs 6 Per Share—
12 Sep 2017DIVIDEND Dividend - Rs 5 Per Share—
12 Sep 2016DIVIDEND Dividend-Rs 2.50 Per Share—
14 Aug 2015DIVIDEND Annual General Meeting/ Dividend - Rs 5/- Per Share—
22 Aug 2014DIVIDENDAnnual General Meeting / Dividend - Rs 6/- Per Share—
4 Sep 2013DIVIDENDAnnual General Meeting / Dividend - Rs 6/- Per Share—
6 Sep 2012DIVIDENDAnnual General Meeting And Dividend Rs.6/- Per Share—
29 Aug 2011DIVIDENDDividend-Rs.6/- Per Share—
23 Sep 2010DIVIDENDAnnual General Meeting And Dividend Rs.6/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman