Maharashtra Scooters Ltd

Maharashtra Scooters Ltd

₹ 12,920 0.80%
08 May - close price
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.

  • 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.

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Quarterly Results

Figures in Rs. Crores

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
9.24 5.26 205.92 6.37 5.18 7.72 163.17 5.79 6.65 29.27 271.02 6.44 6.03
7.49 4.05 5.61 5.16 4.49 5.74 2.22 1.70 1.90 1.08 1.22 0.88 1.05
Operating Profit 1.75 1.21 200.31 1.21 0.69 1.98 160.95 4.09 4.75 28.19 269.80 5.56 4.98
OPM % 18.94% 23.00% 97.28% 19.00% 13.32% 25.65% 98.64% 70.64% 71.43% 96.31% 99.55% 86.34% 82.59%
0.06 0.00 0.11 0.70 0.00 -13.23 0.22 0.70 57.78 0.00 0.00 0.00 0.48
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 0.53 0.52 0.52 0.51 0.52 0.52 0.48 0.48 0.48 0.01 0.00 0.01 0.00
Profit before tax 1.28 0.69 199.90 1.40 0.17 -11.77 160.69 4.31 62.05 28.18 269.80 5.55 5.46
Tax % 35.94% 30.43% 1.09% 28.57% 41.18% -170.18% 5.93% 23.43% 16.79% -25.48% 1.01% 25.77% 26.56%
0.82 0.48 197.73 1.00 0.10 8.26 151.16 3.30 51.63 35.36 267.07 4.12 4.01
EPS in Rs 0.72 0.42 173.01 0.87 0.09 7.23 132.26 2.89 45.18 30.94 233.69 3.60 3.51
Raw PDF

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

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00%
4.06% 4.16% 4.39% 4.42% 4.54% 4.73% 4.89% 4.90% 5.12% 6.21% 6.24% 6.33%
4.89% 5.15% 5.10% 5.08% 5.36% 5.34% 5.27% 4.52% 4.26% 3.85% 3.87% 3.69%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
40.05% 39.68% 39.50% 39.47% 39.08% 38.94% 38.84% 39.56% 39.60% 38.92% 38.86% 38.96%
No. of Shareholders 19,66220,57320,07320,71521,19521,96425,85124,87825,08925,17224,91923,919

* 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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