Msafe Equipments Ltd
₹ 304
-4.88%
18 Sep
- close price
About
Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights.[1]
Key Points
- Market Cap ₹ 620 Cr.
- Current Price ₹ 304
- High / Low ₹ 329 / 102
- Stock P/E 23.2
- Book Value ₹ 48.0
- Dividend Yield 0.00 %
- ROCE 37.2 %
- ROE 39.5 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 141% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 49.3%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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.
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Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 6 | 16 | 27 | 48 | 71 | 103 | |
| 4 | 11 | 20 | 32 | 45 | 59 | |
| Operating Profit | 1 | 4 | 7 | 16 | 26 | 44 |
| OPM % | 22% | 27% | 24% | 33% | 37% | 43% |
| 1 | 1 | 3 | -0 | 0 | -2 | |
| Interest | 1 | 1 | 1 | 2 | 3 | 3 |
| Depreciation | 1 | 2 | 3 | 5 | 6 | 8 |
| Profit before tax | 0 | 3 | 5 | 9 | 17 | 30 |
| Tax % | 25% | 26% | 27% | 25% | 25% | 25% |
| 0 | 2 | 4 | 7 | 13 | 22 | |
| EPS in Rs | 300.00 | 2,090.00 | 36.10 | 65.50 | 130.10 | 10.99 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 79% |
| 3 Years: | 56% |
| TTM: | 44% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 141% |
| 3 Years: | 89% |
| TTM: | 87% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 52% |
| 3 Years: | 49% |
| Last Year: | 40% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 1 | 1 | 1 | 20 |
| Reserves | 0 | 2 | 5 | 12 | 25 | 78 |
| 9 | 11 | 20 | 26 | 33 | 39 | |
| 2 | 7 | 7 | 10 | 12 | 12 | |
| Total Liabilities | 11 | 20 | 34 | 48 | 70 | 149 |
| 7 | 13 | 22 | 27 | 39 | 49 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 1 | 1 | 0 | 0 |
| 4 | 7 | 11 | 21 | 31 | 100 | |
| Total Assets | 11 | 20 | 34 | 48 | 70 | 149 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 5 | 6 | 14 | 12 | |||
| -13 | -10 | -18 | -63 | |||
| 9 | 3 | 4 | 52 | |||
| Net Cash Flow | 0 | 0 | 0 | -0 | ||
| Free Cash Flow | -8 | -3 | -4 | -9 | ||
| CFO/OP | 80% | 50% | 68% | 50% |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 142 | 118 | 96 | 90 | 83 | 84 |
| Inventory Days | 63 | 42 | 51 | 94 | 179 | 379 |
| Days Payable | 249 | 565 | 272 | 122 | 127 | 68 |
| Cash Conversion Cycle | -44 | -405 | -125 | 63 | 134 | 395 |
| Working Capital Days | -352 | -230 | -180 | -95 | -54 | 52 |
| ROCE % | 35% | 32% | 35% | 42% | 37% |
Insights
In beta| Mar 2023 | Mar 2024 | Sep 2025 | May 2027 (P) | |
|---|---|---|---|---|
| Rental Revenue as % of Revenue from Operations % |
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| Total Customers Served customers |
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| Aluminium Scaffolding Capacity Utilization (Unit II) % |
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| Aluminium Scaffolding Installed Capacity (Unit II) kg |
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| Aluminium Scaffolding Production Volume (Unit II) kg |
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| MS Scaffolding Installed Capacity (Unit III) kg |
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| MS Scaffolding Capacity Utilization (Unit III) % |
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| MS Scaffolding Production Volume (Unit III) kg |
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Documents
Announcements
-
Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
- Msafe Equipments’ 7th AGM on 10 Sep 2026: all 8 resolutions passed with requisite majority.
- Shareholder Meeting / Postal Ballot-Outcome of AGM
-
Announcement under Regulation 30 (LODR)-Investor Presentation
- Investor Presentation for the event titled "Alpha Ideas SME Stars-2026 Edition scheduled for 06th September, 2026
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- R Square Advisors one-on-one virtual investor meeting scheduled for 2 Sept 2026 at 3:00 PM IST.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Concalls
-
Sep 2026Transcript PPT REC
-
Aug 2026PPT
-
Jun 2026PPT
-
May 2026Transcript PPT REC
Business Profile:[1]
Msafe Equipments Limited is engaged in the manufacturing, sale, and rental of access and height-safety equipment used for working at heights. The company operates a dual-revenue model (product sales + rentals), supplying equipment used in construction, infrastructure, industrial maintenance, HVAC, MEP, ware
housing, interiors, and firefighting applications.