Maks Energy Solutions India Ltd
Incorporated in 2010, MAKS Energy Solutions Ltd is engaged in assembly and sale of Diesel Generating (DG) Sets and distribution of auto spare parts.[1]
- Market Cap ₹ 20.5 Cr.
- Current Price ₹ 29.6
- High / Low ₹ 43.0 / 25.5
- Stock P/E 32.0
- Book Value ₹ 24.5
- Dividend Yield 0.00 %
- ROCE 9.49 %
- ROE 4.33 %
- Face Value ₹ 10.0
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 3.60% 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.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 42.20 | 20.90 | 25.54 | 44.33 | 66.26 | 66.48 | 58.54 | |
| 38.81 | 18.18 | 24.48 | 42.25 | 63.85 | 63.59 | 55.84 | |
| Operating Profit | 3.39 | 2.72 | 1.06 | 2.08 | 2.41 | 2.89 | 2.70 |
| OPM % | 8.03% | 13.01% | 4.15% | 4.69% | 3.64% | 4.35% | 4.61% |
| 1.15 | -0.06 | -2.12 | 0.38 | -0.07 | 0.04 | 0.22 | |
| Interest | 2.23 | 2.11 | 2.33 | 1.89 | 1.92 | 2.17 | 2.22 |
| Depreciation | 0.07 | 0.06 | 0.05 | 0.04 | 0.03 | 0.03 | 0.02 |
| Profit before tax | 2.24 | 0.49 | -3.44 | 0.53 | 0.39 | 0.73 | 0.68 |
| Tax % | 25.45% | 30.61% | 5.52% | 32.08% | 30.77% | 24.66% | |
| 1.67 | 0.35 | -3.62 | 0.36 | 0.28 | 0.55 | 0.49 | |
| EPS in Rs | 3.38 | 0.71 | -7.33 | 0.52 | 0.40 | 0.79 | 0.71 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 38% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -15% |
| 3 Years: | -9% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -3% |
| 1 Year: | -30% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 4% |
| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4.94 | 4.94 | 4.94 | 6.93 | 6.93 | 6.93 | 6.93 |
| Reserves | 9.98 | 10.33 | 6.70 | 9.13 | 9.41 | 9.96 | 10.03 |
| 19.11 | 21.75 | 18.85 | 12.80 | 15.48 | 17.27 | 16.98 | |
| 10.29 | 7.00 | 5.40 | 2.64 | 1.88 | 2.23 | 2.57 | |
| Total Liabilities | 44.32 | 44.02 | 35.89 | 31.50 | 33.70 | 36.39 | 36.51 |
| 0.26 | 0.21 | 0.16 | 0.14 | 0.11 | 0.10 | 0.09 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 4.10 | 4.10 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 39.96 | 39.71 | 35.73 | 31.36 | 33.59 | 36.29 | 36.42 | |
| Total Assets | 44.32 | 44.02 | 35.89 | 31.50 | 33.70 | 36.39 | 36.51 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -3.25 | 1.05 | 4.45 | 3.26 | 0.30 | 0.23 | |
| 0.04 | 0.03 | 0.07 | -0.02 | 0.09 | 0.10 | |
| 2.28 | -0.10 | -5.00 | -3.60 | 1.13 | 0.02 | |
| Net Cash Flow | -0.93 | 0.98 | -0.47 | -0.36 | 1.52 | 0.34 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 167.54 | 359.76 | 303.26 | 109.92 | 75.14 | 110.80 |
| Inventory Days | 162.70 | 300.85 | 186.04 | 121.60 | 78.23 | 55.18 |
| Days Payable | 37.08 | 86.05 | 81.82 | 17.45 | 6.57 | 7.50 |
| Cash Conversion Cycle | 293.16 | 574.56 | 407.48 | 214.07 | 146.80 | 158.48 |
| Working Capital Days | 126.28 | 247.47 | 158.20 | 119.55 | 70.23 | 71.37 |
| ROCE % | 7.54% | 11.02% | 8.16% | 9.16% | 9.49% |
Documents
Announcements
-
Resignation
29 December 2025 - Mr. Ketan Harishchandra Shah resigns as Non-Executive Director effective December 29, 2025, due to professional commitments.
-
Outcome of Board Meeting
8 November 2025 - Board approved H1 results (30 Sep 2025); auditors qualified over ₹477.37L receivables.
-
Outcome of Board Meeting
8 November 2025 - MAKS H1 results: auditor qualified over ₹477.37L receivables; adjusted loss ₹470.86L.
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
14 October 2025 - Reg 74(5) certificate for quarter ended 30 Sep 2025: all shares demat, no remat/demat requests.
-
Trading Window
26 September 2025 - MAKS: Trading window closed from Oct 01, 2025 until 48 hours after Sep 30, 2025 half-year results.
Business Overview:[1]
MAKSESL is in the business of procurement of Diesel Engines, Alternators, and other components from its suppliers, followed by the assembly of Diesel Generating Sets. These DG Sets, along with their spare parts, are then marketed and sold both domestically and internationally. In addition to the primary business, the company has expanded into the distribution of automotive spare parts within Maharashtra, India.