Maharashtra Scooters Ltd

₹ 13,474 -0.47%

13 Feb - close price

mahascooters.com BSE: 500266 NSE: MAHSCOOTER

About

Maharashtra Scooters Ltd. (MSL) is a manufacturing & and an unregistered core investment company. It is engaged in the business of manufacturing dies, Jigs, fixtures and die casting components primarily for the automobiles industry, etc. ^[1]

Key Points

Company Overview^[1]
Maharashtra Scooters Ltd. is an unregistered Core Investment Company (‘CIC’). As a CIC, a minimum of 90% of its assets is invested in the Bajaj group and the balance in debt and other instruments.

Website BSE NSE

Market Cap ₹ 15,399 Cr.
Current Price ₹ 13,474
High / Low ₹ 18,538 / 8,822
Stock P/E 49.6
Book Value ₹ 28,887
Dividend Yield 1.19 %
ROCE 0.59 %
ROE 0.61 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.47 times its book value
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 88.6%

Cons

The company has delivered a poor sales growth of -2.71% over past five years.
Tax rate seems low
Company has a low return on equity of 0.78% 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

Financial Services Financial Services Finance Investment Company

Part of BSE 500 Nifty 500 BSE Allcap BSE Financial Services BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	7.47	9.24	5.26	205.92	6.37	5.18	7.72	163.17	5.79	6.65	29.27	271.02	6.44
	4.11	7.49	4.05	5.61	5.16	4.49	5.74	2.22	1.70	1.90	1.08	1.22	0.88
Operating Profit	3.36	1.75	1.21	200.31	1.21	0.69	1.98	160.95	4.09	4.75	28.19	269.80	5.56
OPM %	44.98%	18.94%	23.00%	97.28%	19.00%	13.32%	25.65%	98.64%	70.64%	71.43%	96.31%	99.55%	86.34%
	1.24	0.06	0.00	0.11	0.70	0.00	-13.23	0.22	0.70	57.78	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.51	0.53	0.52	0.52	0.51	0.52	0.52	0.48	0.48	0.48	0.01	0.00	0.01
Profit before tax	4.09	1.28	0.69	199.90	1.40	0.17	-11.77	160.69	4.31	62.05	28.18	269.80	5.55
Tax %	26.41%	35.94%	30.43%	1.09%	28.57%	41.18%	-170.18%	5.93%	23.43%	16.79%	-25.48%	1.01%	25.77%
	3.01	0.82	0.48	197.73	1.00	0.10	8.26	151.16	3.30	51.63	35.36	267.07	4.12
EPS in Rs	2.63	0.72	0.42	173.01	0.87	0.09	7.23	132.26	2.89	45.18	30.94	233.69	3.60
Raw PDF

Profit & Loss

Figures in Rs. Crores

	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
	4	7	9	8	82	95	211	30	194	216	223	184	313
	9	12	15	14	20	20	20	20	20	23	19	12	5
Operating Profit	-5	-5	-6	-6	61	75	191	11	174	194	203	172	308
OPM %	-115%	-72%	-72%	-69%	75%	79%	90%	35%	90%	90%	91%	94%	98%
	53	63	108	21	1	1	3	0	0	1	1	45	58
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	3	1	1	1	2	2	2	2	2	2	2	0
Profit before tax	48	55	101	14	61	74	192	9	172	193	202	215	366
Tax %	0%	0%	0%	9%	1%	2%	6%	3%	17%	-1%	1%	0%
	48	55	101	13	61	73	180	9	143	195	199	214	358
EPS in Rs	41.65	47.91	88.37	11.44	53.16	63.70	157.45	7.71	124.87	170.88	174.40	187.56	313.41
Dividend Payout %	60%	63%	34%	262%	62%	52%	32%	649%	64%	94%	97%	75%

Compounded Sales Growth
10 Years:	39%
5 Years:	-3%
3 Years:	-2%
TTM:	72%

Compounded Profit Growth
10 Years:	14%
5 Years:	-1%
3 Years:	7%
TTM:	76%

Stock Price CAGR
10 Years:	28%
5 Years:	28%
3 Years:	43%
1 Year:	46%

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

Balance Sheet

Figures in Rs. Crores

	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	11	11	11	11	11	11	11	11	11	11	11	11	11
Reserves	227	241	301	6,541	8,214	11,312	8,199	16,232	22,842	19,031	27,005	30,851	33,002
	0	0	0	0	0	0	0	0	0	0	0	0	0
	62	66	25	20	18	391	14	1,036	1,846	1,355	2,377	3,725	4,237
Total Liabilities	300	318	337	6,572	8,243	11,714	8,225	17,280	24,699	20,398	29,394	34,588	37,250
	7	4	7	7	13	15	15	14	13	12	10	0	0
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	260	271	280	6,511	8,196	11,680	8,080	17,189	24,654	20,364	29,362	34,563	37,020
	33	43	50	54	34	20	130	76	33	22	22	24	230
Total Assets	300	318	337	6,572	8,243	11,714	8,225	17,280	24,699	20,398	29,394	34,588	37,250

Cash Flows

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-6	-10	-8	-33	1	1	-7	-6	119	209	206	159
	15	41	81	35	40	45	195	-68	-62	-3	-12	36
	-26	-33	-80	-2	-41	-45	-113	-1	-58	-205	-194	-193
Net Cash Flow	-17	-2	-6	0	0	-0	75	-75	-0	0	0	1

Ratios

Figures in Rs. Crores

	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	114	137	99	95	15	14	8	82	19	11	3	0
Inventory Days	88	134	42	111	57	72		163
Days Payable	214	27	37	40	40	8		99
Cash Conversion Cycle	-13	243	104	166	33	78	8	146	19	11	3	0
Working Capital Days	-2,797	-2,141	-203	-43	1	4	4	103	31	10	7	-35
ROCE %	20%	20%	35%	0%	1%	1%	2%	0%	1%	1%	1%	1%

Shareholding Pattern

Numbers in percentages

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%
	3.93%	4.06%	4.16%	4.39%	4.42%	4.54%	4.73%	4.89%	4.90%	5.12%	6.21%	6.24%
	4.78%	4.89%	5.15%	5.10%	5.08%	5.36%	5.34%	5.27%	4.52%	4.26%	3.85%	3.87%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	40.29%	40.05%	39.68%	39.50%	39.47%	39.08%	38.94%	38.84%	39.56%	39.60%	38.92%	38.86%
No. of Shareholders	20,681	19,662	20,573	20,073	20,715	21,195	21,964	25,851	24,878	25,089	25,172	24,919

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%
	5.06%	4.71%	4.86%	5.05%	4.52%	3.73%	3.93%	4.42%	4.90%	6.24%
	4.09%	4.04%	4.16%	3.06%	3.06%	3.67%	4.78%	5.08%	4.52%	3.87%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%
	39.85%	40.25%	39.98%	40.89%	41.42%	41.60%	40.29%	39.47%	39.56%	38.86%
No. of Shareholders	11,375	12,299	12,017	13,723	18,291	22,914	20,681	20,715	24,878	24,919

* 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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Maharashtra Scooters Ltd

Maharashtra Scooters Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports