Mahamaya Steel Industries Ltd

₹ 940 -1.81%

02 Apr - close price

mahamayagroup.in BSE: 513554 NSE: MAHASTEEL

About

Incorporated in 1988, Mahamaya Steel Industries Ltd does manufacturing steel structures in the shape of Angles, Beams, Joist, Channels, Rounds, Flats, Railway sleepers, etc.^[1]

Key Points

Business Overview:^[1]^[2]
MSIL is an ISO 9001:2015 and ISO 14001:2015 certified company. It runs a heavy steel structural mill, Steel Melting Shop and Gas plant at Raipur. Company manufactures heavy and light steel structures such as strips, joists, beams, channels, girders, and railway sleeper bars, flats in various ranges for the construction, automobile, railway, and power industries. It has high capacity structural rolling mills with full fledged supportive SMS and one of the very few in India which manufactures 600 MM joist and 250 MM angles

Website BSE NSE - BE

Market Cap ₹ 1,545 Cr.
Current Price ₹ 940
High / Low ₹ 1,062 / 222
Stock P/E 185
Book Value ₹ 86.5
Dividend Yield 0.00 %
ROCE 6.74 %
ROE 4.33 %
Face Value ₹ 10.0

Add ratio to table

Edit ratios

Pros

Cons

Stock is trading at 10.9 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 3.46% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Iron & Steel Products

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	152.44	188.38	220.20	185.77	180.24	197.62	211.03	154.74	199.83	236.17	207.05	188.57	224.11
	148.51	185.16	215.77	181.63	175.82	194.29	207.01	151.81	195.77	228.46	202.17	183.50	218.25
Operating Profit	3.93	3.22	4.43	4.14	4.42	3.33	4.02	2.93	4.06	7.71	4.88	5.07	5.86
OPM %	2.58%	1.71%	2.01%	2.23%	2.45%	1.69%	1.90%	1.89%	2.03%	3.26%	2.36%	2.69%	2.61%
	0.12	0.66	0.22	0.10	1.13	1.11	0.03	0.41	0.20	1.05	0.71	0.21	0.10
Interest	0.80	1.34	1.42	0.95	1.51	1.27	1.08	1.00	0.72	1.09	1.19	1.15	1.51
Depreciation	1.67	1.47	1.73	1.76	1.77	1.74	1.88	1.92	2.04	2.02	2.15	2.21	2.20
Profit before tax	1.58	1.07	1.50	1.53	2.27	1.43	1.09	0.42	1.50	5.65	2.25	1.92	2.25
Tax %	28.48%	42.99%	28.67%	28.76%	26.43%	32.87%	29.36%	52.38%	31.33%	25.66%	26.67%	27.08%	28.44%
	1.13	0.62	1.07	1.09	1.67	0.96	0.77	0.21	1.03	4.19	1.66	1.40	1.61
EPS in Rs	0.69	0.38	0.65	0.66	1.02	0.58	0.47	0.13	0.63	2.55	1.01	0.85	0.98
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	290	291	317	254	297	465	358	251	495	650	784	802	856
	277	275	316	238	276	443	342	238	480	636	768	783	832
Operating Profit	13	16	1	16	21	23	16	13	15	14	16	19	24
OPM %	4%	6%	0%	6%	7%	5%	4%	5%	3%	2%	2%	2%	3%
	3	1	3	4	2	2	1	0	0	2	3	2	2
Interest	6	8	9	11	12	11	9	6	5	3	5	4	5
Depreciation	5	7	7	6	7	6	6	6	6	6	7	8	9
Profit before tax	4	3	-12	3	4	7	1	1	5	6	7	9	12
Tax %	33%	35%	27%	12%	42%	15%	-164%	56%	36%	31%	29%	28%
	3	2	-15	3	3	6	3	1	3	4	5	6	9
EPS in Rs	2.19	1.56	-11.24	1.87	1.86	4.50	2.39	0.37	1.92	2.54	2.91	3.77	5.39
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	11%
5 Years:	18%
3 Years:	17%
TTM:	12%

Compounded Profit Growth
10 Years:	11%
5 Years:	13%
3 Years:	23%
TTM:	207%

Stock Price CAGR
10 Years:	26%
5 Years:	62%
3 Years:	148%
1 Year:	279%

Return on Equity
10 Years:	1%
5 Years:	3%
3 Years:	3%
Last Year:	4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	14	14	14	14	14	14	14	15	16	16	16	16	16
Reserves	78	79	64	70	72	78	82	93	107	111	116	123	126
	89	102	103	94	101	101	79	81	45	43	41	46	62
	24	25	30	30	40	41	34	32	31	47	51	49	48
Total Liabilities	204	219	210	207	227	234	208	221	200	218	225	234	252
	80	76	69	74	69	66	63	61	60	65	69	70	72
CWIP	0	0	2	0	0	0	0	0	0	0	0	0	0
Investments	5	15	30	28	28	28	28	28	26	24	18	18	18
	119	128	110	105	131	140	117	133	115	130	139	146	162
Total Assets	204	219	210	207	227	234	208	221	200	218	225	234	252

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	16	11	25	15	3	18	35	-4	44	2	14	9
	1	-13	-16	0	1	-7	-3	1	-5	-11	-6	-11
	-16	5	-10	-16	-4	-11	-31	5	-26	-5	-8	1
Net Cash Flow	1	3	-1	-0	1	-1	1	2	13	-15	1	-1
Free Cash Flow	17	7	23	7	1	15	31	-7	39	-9	5	-0
CFO/OP	130%	68%	1,702%	96%	18%	84%	227%	-25%	306%	24%	103%	60%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	33	48	49	39	29	14	17	29	16	10	7	11
Inventory Days	77	77	56	81	94	83	86	130	42	55	49	45
Days Payable	7	7	10	3	34	19	24	28	5	12	8	14
Cash Conversion Cycle	103	118	94	116	89	78	79	131	52	52	48	43
Working Capital Days	28	27	0	12	23	17	20	59	27	26	21	17
ROCE %	5%	6%	-2%	7%	9%	10%	6%	4%	6%	5%	6%	7%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Production Volume - Steel Melting Shop (Blooms/Billets)
MT

xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx
xx,xxx.xx	xx,xxx.xx	xxx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx
		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx		x,xxx,xxx	x,xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx		xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx	xxx,xxx.xx

Please log in to see hidden values.

Production Volume - Structural Steel (Rolling Mill)
MT

Installed Capacity - Gas Plant
Cubic Meter

Installed Capacity - Steel Melting Shop (SMS)
MTPA

Installed Capacity - Structural Rolling Mill
MTPA

Production Volume - Gas Plant
Cubic Meter

Shareholding Pattern

Numbers in percentages

1 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	73.41%	73.41%	73.41%	73.41%	73.41%	73.41%	73.41%	73.41%	73.41%	72.81%	72.81%	72.81%
	0.00%	0.00%	0.00%	0.04%	0.00%	0.11%	1.01%	0.83%	0.71%	0.55%	0.56%	1.17%
	26.59%	26.59%	26.58%	26.54%	26.59%	26.49%	25.59%	25.75%	25.88%	26.65%	26.64%	26.03%
No. of Shareholders	9,216	8,878	8,880	9,344	10,636	10,253	8,183	7,603	7,211	6,868	6,933	7,167

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	68.81%	68.96%	67.96%	67.80%	70.41%	73.41%	73.41%	73.41%	73.41%	72.81%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.71%	1.17%
	0.00%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	31.19%	30.93%	32.03%	32.20%	29.58%	26.59%	26.59%	26.59%	25.88%	26.03%
No. of Shareholders	5,576	5,906	4,330	3,710	4,324	8,966	9,216	10,636	7,211	7,167

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Mahamaya Steel Industries Ltd

Mahamaya Steel Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings

Concalls