Maharashtra Scooters Ltd.

•

mahascooters.comBSE: 500266NSE: MAHSCOOTER

Market Cap₹ 14,860 Cr.

Current Price

High / Low₹ 18,538 / 10,901

Stock P/E53.4

Book Value₹ 24,183

Price to Book0.46

Dividend Yield1.69 %

ROCE1.1 %

ROE1.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Investments: 95.0% • Manufacturing: 5.0%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Company has delivered good profit growth of 103.9% CAGR over last 5 years
Asset quality is healthy - gross NPA of just 0.0%
Company has delivered good sales growth of 82.9% CAGR over last 5 years
Operating margins have improved to 98.6% from 90.1%
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Capital adequacy is tight at 0.0% - limited headroom to grow
Company has a low return on capital employed of 0.9%
Company has a low return on equity of 0.9% over last 3 years
Effective tax rate is unusually low at -0.5% - earnings may be flattered
Thin net interest margin of 0.0%

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

Peer comparison

Financial ServicesFinanceFinance - Investment

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	BAJAJFINSV	1917.30	30.28	307163.22	0.08	62966.70	1081.55	420369.00	1091.26	11.88	40.79
2.	AIIL	546.65	22.13	46422.91	0.00	11082.20	1075.19	14695.40	1109.37	13.85	88.91
3.	CHOLAHLDNG	1525.75	10.74	28650.15	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13000.05	13.35	26301.84	0.66	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	266.10	22.71	25602.92	0.08	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13002.55	53.35	14860.05	1.69	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11435.95	92.40	12693.48	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	124.75	11.48	11938.08	2.61	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	437.25	19.95	9711.49	2.55	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	256.95	161.25	8857.93	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2282.95	7.87	7326.12	1.82	584.02	10.80	4657.56	7.07	20.86	22.01
12.	PILANIINVS	4196.35	140.83	4646.30	0.21	-47.26	-17.55	14.44	-70.70	1.41	-9.33

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	5	206	6	5	8	163	6	7	29	271	6	6	5
	4	6	5	4	6	2	2	2	1	1	1	1	1
Operating Profit	1	200	1	1	2	161	4	5	28	270	6	5	5
OPM %	23.00%	97.28%	19.00%	13.32%	25.65%	98.64%	70.64%	71.43%	96.31%	99.55%	86.34%	82.59%	84.10%
	0	0	1	0	-13	0	1	58	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	0	0	0	0	0	0	0	0
Profit before Tax	1	200	1	0	-12	161	4	62	28	270	6	5	5
Tax %	30.43%	1.09%	28.57%	41.18%	170.18%	5.93%	23.43%	16.79%	-25.48%	1.01%	25.77%	26.56%	27.03%
Net Profit	0	198	1	0	8	151	3	52	35	267	4	4	3
	0.40	173.00	0.90	0.10	7.20	132.30	2.90	45.20	30.90	233.70	3.60	3.50	2.91

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	8	12	14	15	15	194	216	223	183	313	289
	14	20	20	20	20	21	23	19	12	4	4
Operating Profit	-6	-8	-6	-5	-4	174	194	203	172	309	285
OPM %	-68.93%	-62.63%	-37.95%	-31.47%	-29.17%	89.40%	89.50%	91.33%	93.69%	98.65%	98.61%
	21	70	81	199	16	0	1	1	45	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	2	2	2	2	2	2	2	0	0
Profit before Tax	14	61	74	192	9	172	193	202	215	309	285
Tax %	8.87%	0.95%	2.15%	6.18%	2.57%	17.14%	-1.14%	1.41%	0.43%	-0.51%	2.40%
Net Profit	13	61	73	180	9	143	195	199	214	311	279
EPS	11.43	53.16	63.70	157.45	7.71	124.87	170.90	174.37	187.53	271.71	—
Dividend Payout %	262.38%	62.07%	51.81%	31.76%	648.45%	64.06%	93.65%	97.49%	90.65%	80.97%	—

COMPOUNDED SALES GROWTH

10 Years:: 43%
5 Years:: 83%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 12%
5 Years:: 104%
3 Years:: 17%

STOCK PRICE CAGR

10 Years:: 24%
5 Years:: 24%
3 Years:: 20%
1 Year:: -26%

RETURN ON EQUITY

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
	6,541	8,214	11,312	8,199	16,232	22,842	19,031	27,005	30,851	27,623
	10	7	4	2	0	0	0	0	0	0
Trade Payables	0	1	0	1	2	1	0	0	0	0
	9	10	386	-21	1,034	1,845	1,355	2,377	3,725	3,156
Total Liabilities	6,572	8,243	11,714	8,192	17,280	24,699	20,398	29,394	34,588	30,791
	7	13	15	15	14	13	12	10	0	0
	6,511	8,196	11,680	8,080	17,189	24,654	20,364	29,362	34,563	30,759
	1	1	2	3	4	6	4	4	0	0
	0	0	0	0	0	0	0	2	0	0
Cash & Bank	28	13	6	82	56	5	5	6	8	8
	25	20	12	12	17	22	13	11	16	25
Total Assets	6,572	8,243	11,714	8,192	17,280	24,699	20,398	29,394	34,588	30,791

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-31	2	1	-8	-5	146	206	206	159	267
Cash from Investing	35	40	45	195	-68	-62	-3	-12	36	-19
Cash from Financing	-2	-41	-45	-113	-1	-58	-205	-194	-193	-250
	0	0	-0	75	-75	-0	0	0	1	-2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
51.00	51.00	51.00	51.00	51.00	51.00	51.00	51.00	51.00
4.54	4.73	4.89	4.90	5.12	6.21	6.24	6.33	6.18
5.36	5.34	5.27	4.52	4.26	3.85	3.87	3.69	3.85
0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
39.07	38.93	38.83	39.57	39.60	38.93	38.87	38.96	38.96

Documents

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

2026-09-01

Address Change

2026-09-01 - Maharashtra Scooters Limited has informed the Exchange regarding change in Registered Office of the Company.

2026-08-29

Copy of Newspaper Publication

2026-08-29 - Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Newspaper Advertisement

2026-08-28

Shareholders meeting

2026-08-28 - Maharashtra Scooters Limited has informed the Exchange regarding Notice of Postal Ballot

2026-07-31

Shareholders meeting

2026-07-31 - Maharashtra Scooters Limited has submitted the Exchange, a copy of Scrutinizers report and voting results of the Annual General Meeting held on 29 July 2026.

2026-07-29

Shareholders meeting

2026-07-29 - Maharashtra Scooters Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on 29 July 2026

2026-07-29

Amendment to AOA/MOA

2026-07-29 - Maharashtra Scooters Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-07-29

General Updates

2026-07-29 - Maharashtra Scooters Limited has informed the Exchange about amendment to the Object Clause of the Memorandum of Association ( MOA ) of the Company and Change in Name of the Company subject to the approval of Members of the Company, statutory and regulatory authorities as may be required.

2026-07-29

Outcome of Board Meeting

2026-07-29 - Maharashtra Scooters Limited has submitted to the Exchange, the un-audited financial results for the period ended 30 June 2026.

2026-07-13

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-13 - Maharashtra Scooters Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 June 2026

News

Recent coverage and analyst commentary for MAHSCOOTER

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Maharashtra Scooters Ltd.

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Free 5nance Account

Name

BAJAJFINSV

1917.30

30.28

307163.22

0.08

62966.70

1081.55

420369.00

1091.26

11.88

40.79

AIIL

546.65

22.13

46422.91

0.00

11082.20

1075.19

14695.40

1109.37

13.85

88.91

CHOLAHLDNG

1525.75

10.74

28650.15

0.09

1788.99

42.04

11113.57

42.92

10.52

57.53

TVSHLTD

13000.05

13.35

26301.84

0.66

1173.58

73.77

17076.18

40.01

19.39

16.25

CGCL

266.10

22.71

25602.92

0.08

353.38

102.04

1576.47

62.12

11.68

68.54

MAHSCOOTER

13002.55

53.35

14860.05

1.69

3.32

-90.61

5.41

-81.52

1.06

84.10

JSWHL

11435.95

92.40

12693.48

0.00

24.54

-92.74

34.58

14.97

0.58

92.45

JMFINANCIL

124.75

11.48

11938.08

2.61

368.57

-19.66

1200.53

9.69

11.91

58.30

TSFINV

437.25

19.95

9711.49

2.55

124.95

-92.11

305.57

102.23

3.47

53.35

RELIGARE

256.95

161.25

8857.93

0.00

-46.98

-674.86

2353.40

1051.76

4.71

-2.08

KAMAHOLD

2282.95

7.87

7326.12

1.82

584.02

10.80

4657.56

7.07

20.86

22.01

PILANIINVS

4196.35

140.83

4646.30

0.21

-47.26

-17.55

14.44

-70.70

1.41

-9.33

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

206

163

271

Operating Profit

200

161

270

OPM %

23.00%

97.28%

19.00%

13.32%

25.65%

98.64%

70.64%

71.43%

96.31%

99.55%

86.34%

82.59%

84.10%

-13

Interest

Depreciation

Profit before Tax

200

-12

161

270

Tax %

30.43%

1.09%

28.57%

41.18%

170.18%

5.93%

23.43%

16.79%

-25.48%

1.01%

25.77%

26.56%

27.03%

Net Profit

198

151

267

0.40

173.00

0.90

0.10

7.20

132.30

2.90

45.20

30.90

233.70

3.60

3.50

2.91

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

194

216

223

183

313

289

Operating Profit

-6

-8

-6

-5

-4

174

194

203

172

309

285

OPM %

-68.93%

-62.63%

-37.95%

-31.47%

-29.17%

89.40%

89.50%

91.33%

93.69%

98.65%

98.61%

199

Interest

Depreciation

Profit before Tax

192

172

193

202

215

309

285

Tax %

8.87%

0.95%

2.15%

6.18%

2.57%

17.14%

-1.14%

1.41%

0.43%

-0.51%

2.40%

Net Profit

180

143

195

199

214

311

279

EPS

11.43

53.16

63.70

157.45

7.71

124.87

170.90

174.37

187.53

271.71

—

Dividend Payout %

262.38%

62.07%

51.81%

31.76%

648.45%

64.06%

93.65%

97.49%

90.65%

80.97%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

6,541

8,214

11,312

8,199

16,232

22,842

19,031

27,005

30,851

27,623

Trade Payables

386

-21

1,034

1,845

1,355

2,377

3,725

3,156

Total Liabilities

6,572

8,243

11,714

8,192

17,280

24,699

20,398

29,394

34,588

30,791

6,511

8,196

11,680

8,080

17,189

24,654

20,364

29,362

34,563

30,759

Cash & Bank

Total Assets

6,572

8,243

11,714

8,192

17,280

24,699

20,398

29,394

34,588

30,791

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-31

-8

-5

146

206

159

267

Cash from Investing

195

-68

-62

-3

-12

-19

Cash from Financing

-2

-41

-45

-113

-1

-58

-205

-194

-193

-250

-0

-75

-0

-2

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

51.00

4.54

4.73

4.89

4.90

5.12

6.21

6.24

6.33

6.18

5.36

5.34

5.27

4.52

4.26

3.85

3.87

3.69

3.85

0.01

39.07

38.93

38.83

39.57

39.60

38.93

38.87

38.96

Maharashtra Scooters Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Maharashtra Scooters Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI