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Mahamaya Steel Industries Ltd.

•
mahamayagroup.inBSE: 513554NSE: MAHASTEEL
Market Cap₹ 2,122 Cr.
Current Price
High / Low₹ 1,421 / 383
Stock P/E212.4
Book Value₹ 98
Price to Book2.99
Dividend Yield0.00 %
ROCE7.4 %
ROE5.2 %
Face Value₹ 10

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ABOUT

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 delivered good sales growth of 17.5% CAGR over last 5 years
  • Company has consistently been profitable over the last 5 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.35x)
  • Working capital cycle has improved - days down from 22 to 18
  • Company maintains a comfortable, low leverage position

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Recent results are weak - TTM profit is down 30.1% versus prior year
  • Company has a low return on equity of 4.4% over last 3 years
  • Company has a low return on capital employed of 6.8%
  • Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.JSWSTEEL1267.5012.51309961.290.564696.00112.5847364.0011.5520.6719.60
2.TATASTEEL182.8520.69228259.992.192385.2418.8260794.2915.2612.7015.40
3.SAIL179.0017.3173936.401.311644.05120.8026245.671.257.0815.92
4.WELCORP2676.2530.5770596.970.191047.88200.114081.1214.9123.9432.17
5.JSL755.2019.1662260.170.53768.667.5611278.5410.5019.1912.09
6.APLAPOLLO2153.0048.6459779.850.39263.1110.945606.7112.0731.837.34
7.SHYAMMETL1074.3526.7029988.530.423507.301106.6354550.901133.3513.8814.03
8.JINDALSAW311.8530.5219943.060.6490.79-78.154452.319.0010.388.79
9.RATNAMANI2808.1545.4719682.880.36107.03-15.82971.63-15.6318.0116.69
10.SARDAEN524.7516.3718491.210.38478.139.501608.04-1.0717.7641.59
11.GPIL244.5020.4116460.690.41222.372.751750.4732.2920.2019.36
12.MAHASTEEL1291.00212.382121.680.002.1322.51267.6329.267.392.15
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
220186180198211155200236207189224263268
216182176194207152196228202184218255265
Operating Profit4443434855683
OPM %2.01%2.22%2.45%1.68%1.90%1.89%2.03%3.26%2.36%2.69%2.61%2.98%1.03%
0011000110010
Interest1121111111211
Depreciation2222222222222
Profit before Tax2221102622263
Tax %28.67%28.10%26.43%32.87%29.63%50.00%31.33%25.66%26.22%27.08%28.44%28.27%26.11%
Net Profit0000101522242
1.010.941.270.870.530.140.663.291.061.151.162.481.30

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
317254297465358251495650784802943
316238276443342238480636768783922
Operating Profit116212316131514161922
OPM %0.46%6.44%7.06%4.86%4.41%5.04%3.12%2.13%2.08%2.33%2.28%
34221102322
Interest91112119653545
Depreciation76766666789
Profit before Tax-12347115691013
Tax %-27.33%-16.75%42.20%15.37%-163.38%56.48%36.06%30.60%22.36%24.40%27.63%
Net Profit-153363134789
EPS0.000.000.000.000.000.633.313.314.094.62—
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%—

COMPOUNDED SALES GROWTH

10 Years:
—
5 Years:
18%
3 Years:
17%

COMPOUNDED PROFIT GROWTH

10 Years:
—
5 Years:
25%
3 Years:
14%

STOCK PRICE CAGR

10 Years:
12%
5 Years:
69%
3 Years:
166%
1 Year:
229%

RETURN ON EQUITY

10 Years:
1%
5 Years:
3%
3 Years:
4%
Last Year:
5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2007

Sep 23

₹ 0.05

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
14141414141516161616
687476828597112118125133
7092100100787744433944
Trade Payables72221918156181424
56292023172027293927
Total Liabilities214211231238211224205225233244
69746966636160656970
Capital Work in Progress2000000000
33323232313131302627
37406184637247808781
000000001525
Cash & Bank64543215011
67616552505853493540
Total Assets214211231238211224205225233244

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
251441936-3473149
Cash from Investing-1621-7-31-5-11-6-11
Cash from Financing-10-16-4-11-315-26-5-81
-1-01-11213-151-1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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
73.4173.4173.4173.4172.8072.8072.8072.8072.80
0.111.010.830.710.550.561.170.060.00
DIIs0.000.000.000.000.000.000.000.000.00
Government0.000.000.000.000.000.000.000.000.00
26.4825.5825.7625.8826.6526.6326.0227.1427.19

Documents

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

2026-09-07
Monthly Business Updates

2026-09-07 - Mahamaya Steel Industries Limited has informed the Exchange regarding Monthly Business Updates for the month of August 2026

2026-09-01
Copy of Newspaper Publication

2026-09-01 - Mahamaya Steel Industries Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31
General Updates

2026-08-31 - Mahamaya Steel Industries Limited has informed the Exchange about General Updates

2026-08-31
Change in Management

2026-08-31 - Mahamaya Steel Industries Limited has informed the Exchange about change in Management

2026-08-31
Shareholders meeting

2026-08-31 - Mahamaya Steel Industries Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 25, 2026

2026-08-31
Outcome of Board Meeting

2026-08-31 - Mahamaya Steel Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.

2026-08-31
Outcome of Board Meeting

2026-08-31 - Mahamaya Steel Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.

2026-08-31
Outcome of Board Meeting

2026-08-31 - Mahamaya Steel Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on August 31, 2026.

2026-08-24
Copy of Newspaper Publication

2026-08-24 - Mahamaya Steel Industries Limited has informed the Exchange about Copy of Newspaper Publication

News

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