Mahamaya Steel Industries Ltd

₹ 1,066 -4.06%

13 Oct - 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 ₹ 1,766 Cr.
Current Price ₹ 1,066
High / Low ₹ 1,425 / 516
Stock P/E 192
Book Value ₹ 90.1
Dividend Yield 0.00 %
ROCE 8.40 %
ROE 5.47 %
Face Value ₹ 10.0

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Pros

Company has delivered good profit growth of 70.2% CAGR over last 5 years

Cons

Stock is trading at 11.8 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 4.26% 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	220.20	185.77	180.24	197.62	211.03	154.74	199.83	236.17	207.05	188.57	224.11	263.12	267.63
	215.77	181.63	175.82	194.29	207.01	151.81	195.77	228.46	202.17	183.50	218.25	255.28	261.86
Operating Profit	4.43	4.14	4.42	3.33	4.02	2.93	4.06	7.71	4.88	5.07	5.86	7.84	5.77
OPM %	2.01%	2.23%	2.45%	1.69%	1.90%	1.89%	2.03%	3.26%	2.36%	2.69%	2.61%	2.98%	2.16%
	0.22	0.10	1.13	1.11	0.03	0.41	0.20	1.05	0.71	0.21	0.10	1.24	0.12
Interest	1.42	0.95	1.51	1.27	1.08	1.00	0.72	1.09	1.19	1.15	1.51	1.16	0.69
Depreciation	1.73	1.76	1.77	1.74	1.88	1.92	2.04	2.02	2.15	2.21	2.20	2.26	2.31
Profit before tax	1.50	1.53	2.27	1.43	1.09	0.42	1.50	5.65	2.25	1.92	2.25	5.66	2.89
Tax %	28.67%	28.76%	26.43%	32.87%	29.36%	52.38%	31.33%	25.66%	26.67%	27.08%	28.44%	28.27%	25.95%
	1.07	1.09	1.67	0.96	0.77	0.21	1.03	4.19	1.66	1.40	1.61	4.07	2.14
EPS in Rs	0.65	0.66	1.02	0.58	0.47	0.13	0.63	2.55	1.01	0.85	0.98	2.48	1.30
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	291	317	254	297	465	358	251	495	650	784	802	883	943
	275	316	238	276	443	342	238	480	636	768	783	859	919
Operating Profit	16	1	16	21	23	16	13	15	14	16	19	24	25
OPM %	6%	0.5%	6%	7%	4.9%	4.4%	5%	3.1%	2.1%	2.1%	2.3%	2.7%	2.6%
	1	3	4	2	2	1	0	0	2	3	2	2	2
Interest	8	9	11	12	11	9	6	5	3	5	4	5	5
Depreciation	7	7	6	7	6	6	6	6	6	7	8	9	9
Profit before tax	3	-12	3	4	7	1	1	5	6	7	9	12	13
Tax %	35%	27%	12%	42%	15%	-164%	56%	36%	31%	29%	28%	28%
	2	-15	3	3	6	3	1	3	4	5	6	9	9
EPS in Rs	1.56	-11.24	1.87	1.86	4.50	2.39	0.37	1.92	2.54	2.91	3.77	5.32	5.61
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	11%
5 Years:	29%
3 Years:	11%
TTM:	18%

Compounded Profit Growth
10 Years:	9%
5 Years:	70%
3 Years:	29%
TTM:	44%

Stock Price CAGR
10 Years:	22%
5 Years:	63%
3 Years:	140%
1 Year:	86%

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

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	14	14	14	14	14	14	15	16	16	16	16	16
Reserves	79	64	70	72	78	82	93	107	111	116	123	132
	102	103	94	101	101	79	81	45	43	41	46	58
	25	30	30	40	41	34	32	31	47	51	49	53
Total Liabilities	219	210	207	227	234	208	221	200	218	225	234	260
	76	69	74	69	66	63	61	60	65	69	70	73
CWIP	0	2	0	0	0	0	0	0	0	0	0	0
Investments	15	30	28	28	28	28	28	26	24	18	18	18
	128	110	105	131	140	117	133	115	130	139	146	169
Total Assets	219	210	207	227	234	208	221	200	218	225	234	260

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	25	15	3	18	35	-4	44	2	14	9	8
	-13	-16	0	1	-7	-3	1	-5	-11	-6	-11	-15
	5	-10	-16	-4	-11	-31	5	-26	-5	-8	1	7
Net Cash Flow	3	-1	-0	1	-1	1	2	13	-15	1	-1	-1
Free Cash Flow	7	23	7	1	15	31	-7	39	-9	5	-0	-3
CFO/OP	68%	1,702%	96%	18%	84%	227%	-25%	306%	24%	103%	60%	47%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	48	49	39	29	14	17	29	16	10	7	11	7
Inventory Days	77	56	81	94	83	86	130	42	55	49	45	58
Days Payable	7	10	3	34	19	24	28	5	12	8	14	13
Cash Conversion Cycle	118	94	116	89	78	79	131	52	52	48	43	53
Working Capital Days	27	0	12	23	17	20	59	27	26	21	17	16
ROCE %	6%	-2%	7%	9%	10%	6%	4%	6%	5%	6%	7%	8%

Insights

In beta

Nov 2015

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2026

Capacity Utilization - Billets/Blooms (Steel Melting Shop)
%

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

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Capacity Utilization - Steel Structures (Rolling Mill)
%

Customer Concentration - Top 10 Customers (% of sales)
%

Capacity Utilization - Oxygen/Nitrogen Plant
%

Installed Capacity - Billets/Blooms (Steel Melting Shop)
MT

Installed Capacity - Oxygen/Gas Plant
CuM

Installed Capacity - Steel Structures (Rolling Mill)
MT

Oxygen Gas Production
CuM

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.41%	73.41%	73.41%	73.41%	73.41%	73.41%	73.41%	72.81%	72.81%	72.81%	72.81%	72.81%
	0.00%	0.04%	0.00%	0.11%	1.01%	0.83%	0.71%	0.55%	0.56%	1.17%	0.06%	0.00%
	26.58%	26.54%	26.59%	26.49%	25.59%	25.75%	25.88%	26.65%	26.64%	26.03%	27.14%	27.19%
No. of Shareholders	8,880	9,344	10,636	10,253	8,183	7,603	7,211	6,868	6,933	7,167	6,503	6,185

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	68.81%	68.96%	67.96%	67.80%	70.41%	73.41%	73.41%	73.41%	73.41%	72.81%	72.81%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.71%	0.06%	0.00%
	0.00%	0.12%	0.00%	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%	27.14%	27.19%
No. of Shareholders	5,576	5,906	4,330	3,710	4,324	8,966	9,216	10,636	7,211	6,503	6,185

* 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.

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Mahamaya Steel Industries Ltd

Mahamaya Steel Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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