Maharashtra Scooters Ltd
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]
- Market Cap ₹ 14,762 Cr.
- Current Price ₹ 12,920
- High / Low ₹ 18,538 / 10,500
- Stock P/E 47.5
- Book Value ₹ 24,180
- Dividend Yield 1.70 %
- ROCE 1.06 %
- ROE 1.06 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Stock is trading at 0.53 times its book value
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 84.4%
Cons
- Tax rate seems low
- Company has a low return on equity of 0.84% 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.
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 9 | 8 | 82 | 95 | 211 | 30 | 194 | 217 | 223 | 184 | 313 | |
| 12 | 15 | 14 | 20 | 20 | 20 | 20 | 20 | 23 | 19 | 12 | 4 | |
| Operating Profit | -5 | -6 | -6 | 61 | 75 | 191 | 11 | 174 | 194 | 203 | 172 | 309 |
| OPM % | -72% | -72% | -69% | 75% | 79% | 90% | 35% | 90% | 90% | 91% | 94% | 99% |
| 63 | 108 | 21 | 1 | 1 | 3 | 0 | 0 | 1 | 1 | 45 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 0 |
| Profit before tax | 55 | 101 | 14 | 61 | 74 | 192 | 9 | 172 | 193 | 202 | 215 | 309 |
| Tax % | 0% | 0% | 9% | 1% | 2% | 6% | 3% | 17% | -1% | 1% | 0% | -1% |
| 55 | 101 | 13 | 61 | 73 | 180 | 9 | 143 | 195 | 199 | 214 | 311 | |
| EPS in Rs | 47.91 | 88.37 | 11.44 | 53.16 | 63.70 | 157.45 | 7.71 | 124.87 | 170.88 | 174.40 | 187.56 | 271.74 |
| Dividend Payout % | 63% | 34% | 262% | 62% | 52% | 32% | 649% | 64% | 94% | 97% | 75% | 81% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 43% |
| 5 Years: | 59% |
| 3 Years: | 13% |
| TTM: | 70% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 104% |
| 3 Years: | 17% |
| TTM: | 77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 30% |
| 3 Years: | 37% |
| 1 Year: | 19% |
| Return on Equity | |
|---|---|
| 10 Years: | 1% |
| 5 Years: | 1% |
| 3 Years: | 1% |
| Last Year: | 1% |
Balance Sheet
Figures in Rs. Crores
| 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 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 241 | 301 | 6,541 | 8,214 | 11,312 | 8,199 | 16,232 | 22,842 | 19,031 | 27,005 | 30,851 | 27,623 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 66 | 25 | 20 | 18 | 391 | 14 | 1,036 | 1,846 | 1,355 | 2,377 | 3,725 | 3,156 | |
| Total Liabilities | 318 | 337 | 6,572 | 8,243 | 11,714 | 8,225 | 17,280 | 24,699 | 20,398 | 29,394 | 34,588 | 30,791 |
| 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 |
| Investments | 271 | 280 | 6,511 | 8,196 | 11,680 | 8,080 | 17,189 | 24,654 | 20,364 | 29,362 | 34,563 | 30,759 |
| 43 | 50 | 54 | 34 | 20 | 130 | 76 | 33 | 22 | 22 | 24 | 32 | |
| Total Assets | 318 | 337 | 6,572 | 8,243 | 11,714 | 8,225 | 17,280 | 24,699 | 20,398 | 29,394 | 34,588 | 30,791 |
Cash Flows
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -10 | -8 | -33 | 1 | 1 | -7 | -6 | 119 | 209 | 206 | 159 | 267 | |
| 41 | 81 | 35 | 40 | 45 | 195 | -68 | -62 | -3 | -12 | 36 | -19 | |
| -33 | -80 | -2 | -41 | -45 | -113 | -1 | -58 | -205 | -194 | -193 | -250 | |
| Net Cash Flow | -2 | -6 | 0 | 0 | -0 | 75 | -75 | -0 | 0 | 0 | 1 | -2 |
| Free Cash Flow | -10 | -12 | -34 | -5 | -2 | -9 | -6 | 119 | 207 | 206 | 224 | 267 |
| CFO/OP | 180% | 104% | 530% | 3% | 5% | -2% | -44% | 86% | 119% | 106% | 100% | 92% |
Ratios
Figures in Rs. Crores
| 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 | 137 | 99 | 95 | 15 | 14 | 8 | 82 | 19 | 11 | 3 | 0 | 0 |
| Inventory Days | 134 | 42 | 111 | 57 | 72 | 163 | ||||||
| Days Payable | 27 | 37 | 40 | 40 | 8 | 99 | ||||||
| Cash Conversion Cycle | 243 | 104 | 166 | 33 | 78 | 8 | 146 | 19 | 11 | 3 | 0 | 0 |
| Working Capital Days | -2,141 | -203 | -43 | 1 | 4 | 4 | 103 | 31 | 10 | 7 | -35 | 13 |
| ROCE % | 20% | 35% | 0% | 1% | 1% | 2% | 0% | 1% | 1% | 1% | 1% | 1% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Manufacturing Segment Revenue (Tool Room/Die Casting) INR Lakhs |
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| Total Number of Employees Number |
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Extracted by Screener AI
Documents
Announcements
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Record Date For Determining Members Eligible To Receive The Final Dividend, If Approved By The Shareholders
22 Apr - FY26 audited results approved; Rs 60 final dividend recommended, record date 30 June 2026, AGM 29 July 2026.
- Corporate Action-Board approves Dividend 22 Apr
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Audited Financial Results For The Year Ended 31 March 2026
22 Apr - FY26 audited results approved; final dividend Rs60/share recommended, record date 30 June 2026, AGM 29 July 2026.
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Board Meeting Outcome for Outcome Of Board Meeting Held On 22 April 2026
22 Apr - Board approved FY26 audited results, recommended Rs60 final dividend, set 30 June 2026 record date and 29 July 2026 AGM.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Submitted Regulation 74(5) certificate for quarter ended 31 March 2026.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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.