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Maan Aluminium Ltd.

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maanaluminium.comBSE: 532906NSE: MAANALU
Market Cap₹ 666 Cr.
Current Price
High / Low₹ 185 / 103
Stock P/E49.7
Book Value₹ 46
Price to Book2.32
Dividend Yield0.00 %
ROCE10.8 %
ROE9.1 %
Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Traded Goods - Aluminium Ingots\Billets\Logs\Rods and Extruded Profiles: 70.6% • Finished Goods - Aluminium Profiles, Tubes , Rods & Alloy Billets: 28.9% • Other Operating Revenues: 0.4%

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence
61%
View full sector analysis →

PROS

  • Company has a healthy return on capital (ROCE) of 26.3%
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
  • Company generates healthy free cash flow
  • Company comfortably covers its interest (7.7x coverage)
  • Company converts assets efficiently - asset turnover of 3.1x

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Promoter holding has decreased over last 2 years: -3.0pp
  • Total debt has risen sharply - up 180.6% year on year
  • Operating margins have contracted to 3.0% from 6.6%
  • Inventory has been piling up - inventory days up from 14 to 22
  • Growth is decelerating - 3Y profit CAGR (-11.0%) trails the 5Y trend (15.5%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningNon - Ferrous MetalsAluminium & Aluminium Products
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.VAML439.300.00171783.350.0065970.00—213930.00—0.0048.14
2.NATIONALUM371.4010.1068212.503.102003.1490.875302.3839.2839.7151.08
3.ARFIN88.0880.571486.110.124.08276.97212.7795.4614.824.77
4.MMP447.8022.701137.530.4513.70353.19232.6026.8910.5710.17
5.MAANALU110.95871.19665.530.003.1013.55231.869.7910.762.32
6.EUROBOND145.6013.92356.720.0047.82735.721198.131042.8616.2210.65
7.MANAKALUCO38.0428.17249.290.132.8582.76139.593.8510.529.60
8.CENTEXT22.8314.75182.640.003.7759.75138.3632.8518.647.70
9.HINDALUMI97.9016.6361.680.001.91-95.105.36405.66-1.2344.40
10.GALPOWTEL22.520.0019.960.00-1.44-111.760.00—5.41—
11.SORICH————————16.21—
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
207295213237177205182246211191152255232
194284202228172198177238206183146253229
Operating Profit1311119585858623
OPM %6.47%3.75%5.10%3.90%2.81%3.70%2.65%3.13%2.34%4.17%3.65%0.64%1.13%
2222111123242
Interest1111111112111
Depreciation1111111222222
Profit before Tax14111010474648434
Tax %25.20%25.94%25.67%25.33%23.99%25.87%24.69%36.66%25.41%25.74%25.53%32.27%28.24%
Net Profit10877353436323
1.881.461.381.350.630.950.560.730.501.070.520.290.52

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
190349447652524403572814953810829
185341434634512378539743908785812
Operating Profit58131812253371452518
OPM %2.68%2.33%2.86%2.77%2.36%6.08%5.74%8.76%4.68%3.10%2.14%
155542558510
Interest46665455435
Depreciation12222334568
Profit before Tax1510149203067442218
Tax %36.60%36.07%34.31%36.30%17.47%25.55%26.12%25.45%25.52%28.37%27.17%
Net Profit13698152250331613
EPS0.000.000.000.000.0010.9416.269.246.062.87—
Dividend Payout %27.96%10.35%10.53%7.37%8.95%4.57%6.15%8.12%0.00%0.00%—

COMPOUNDED SALES GROWTH

10 Years:
22%
5 Years:
9%
3 Years:
12%

COMPOUNDED PROFIT GROWTH

10 Years:
49%
5 Years:
15%
3 Years:
-11%

STOCK PRICE CAGR

10 Years:
39%
5 Years:
26%
3 Years:
4%
1 Year:
-1%

RETURN ON EQUITY

10 Years:
21%
5 Years:
27%
3 Years:
26%
Last Year:
9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2023

Jul 27

1:1

A.G.M. & Stock Split & Bonus issue

2021

Aug 2

1:1

Bonus issue

2017

Jul 10

1:1

This is to inform you that a Meeting of Board of Directors is scheduled to be held on Friday, the 26th day of May, 2017 at 12.30 p.m. at the registered office of the Company at 4/5, First Floor, Asaf Ali Road, New Delhi ? 110002 inter-alia for the following agenda, apart from other business items : 1. To consider, and approve Audited Financial results for the quarter and financial year ended on 31st March 2017. 2. To recommend the proportion of 1 (one) fully paid up Equity Share of Rs. 10/- (Rupees Ten) each, for every 1 (One) fully paid-up Equity Shares of Rs. 10/- (Rupees Ten) as bonus equity share each held by members or allotted to such member i.e. in the ratio of 1:1 (One bonus share for every One equity share held).

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital33777714142727
24262937435771117136151
56684053307365563287
Trade Payables32321941411302120
46610810108914
Total Liabilities9010611312692160171225225300
202123272937455154105
Capital Work in Progress0000000120
0000000156
16161011163337354058
0000000089104
Cash & Bank11322112210
526878864479871353525
Total Assets9010611312692160171225225300

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
-31-639133-152147330
Cash from Investing-111-3-2-12-7-10-6-54
Cash from Financing326-356-2838-14-19-2754
1-02-1-06-6-0-0-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
58.8758.8758.8758.8758.8758.8758.8755.8255.82
0.330.410.370.410.370.390.010.010.00
0.000.000.540.000.000.001.431.581.71
Government0.000.000.000.000.000.000.000.000.00
40.8040.7240.2240.7240.7640.7539.6942.5842.47

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07
Copy of Newspaper Publication

2026-09-07 - Maan Aluminium Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-05
Shareholders meeting

2026-09-05 - Maan Aluminium Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-03
Copy of Newspaper Publication

2026-09-03 - Maan Aluminium Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-03
General Updates

2026-09-03 - Maan Aluminium Limited has informed the Exchange about Annual General Meeting

2026-09-02
Clarification - Financial Results

2026-09-02 - The Exchange has sought clarification from Maan Aluminium Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-08-19
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-19 - Maan Aluminium Limited has informed the Exchange about Transcript

2026-08-15
Copy of Newspaper Publication

2026-08-15 - Maan Aluminium Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14
Utilisation of Funds

2026-08-14 - Maan Aluminium Limited has informed the Exchange about Utilisation of Funds

2026-08-13
Investor Presentation

2026-08-13 - Maan Aluminium Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for MAANALU

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