---
title: "Maharashtra Elektrosmelt Ltd(merged) (504824) — Share Price, Financials & Analysis"
symbol: "504824"
company: "Maharashtra Elektrosmelt Ltd(merged)"
canonical: "https://tapetide.com/stocks/504824"
isin: "INE400E01016"
bse_code: "504824"
generated_at: "2026-10-13T11:01:45.681Z"
---

# Maharashtra Elektrosmelt Ltd(merged) (504824)

Canonical page: https://tapetide.com/stocks/504824

## Company

- **BSE Code:** 504824
- **ISIN:** INE400E01016
- **Stock Type:** DELISTED
- **Face Value:** ₹10
- **F&O Eligible:** No

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 37.3%
- Company has been maintaining a healthy dividend payout of 20.4%
- Debtor days have improved from 25.3 to 19.9 days.

### Weaknesses

- Earnings include an other income of Rs.29.9 Cr.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 15% | 38% |
| revenue growth | 2% | 12% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 8.36 | 14.18 | 10.26 | 13.88 | 8.01 | 16.51 | 8.71 |
| Expenses | 5.86 | 8.77 | 6.64 | 7.74 | 6.02 | 9.3 | 7.08 |
| Operating Profit | 2.5 | 5.41 | 3.62 | 6.14 | 1.99 | 7.21 | 1.63 |
| OPM % | 29.9 | 38.15 | 35.28 | 44.24 | 24.84 | 43.67 | 18.71 |
| Other Income | 0.89 | 0.34 | 0.41 | 0.46 | 0.57 | 0.46 | 0.8 |
| Interest | 0.92 | 1.72 | 1.35 | 1.43 | 1.36 | 1.1 | 1.09 |
| Depreciation | 0.52 | 0.53 | 0.51 | 0.56 | 0.53 | 0.46 | 0.5 |
| Profit before tax | 1.95 | 3.5 | 2.17 | 4.61 | 0.67 | 6.11 | 0.84 |
| Tax % | 25.13 | 26.57 | 25.81 | 26.25 | 25.37 | 25.37 | 48.81 |
| Net Profit | 1.45 | 2.57 | 1.61 | 3.4 | 0.5 | 4.56 | 0.44 |
| EPS in Rs | 0.77 | 1.36 | 0.85 | 1.8 | 0.27 | 2.42 | 0.23 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Sales | 193 | 234 | 319 | 324 | 331 |
| Expenses | 161 | 208 | 266 | 276 | 279 |
| Operating Profit | 32 | 26 | 53 | 48 | 52 |
| OPM % | 17 | 11 | 17 | 15 | 16 |
| Other Income | 2 | 4 | 5 | 16 | 30 |
| Interest | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 32 | 28 | 56 | 62 | 79 |
| Tax % | 34 | 34 | 35 | 34 | 40 |
| Net Profit | 21 | 18 | 36 | 41 | 48 |
| Dividend Payout % | 23 | 26 | 20 | 21 | 20 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 24 | 24 | 24 | 24 | 24 |
| Reserves | 31 | 44 | 71 | 102 | 139 |
| Borrowings | 2 | 1 | 0 | 1 | 0 |
| Other Liabilities | 83 | 77 | 124 | 122 | 115 |
| Total Liabilities | 140 | 146 | 220 | 249 | 278 |
| Fixed Assets | 25 | 25 | 26 | 31 | 33 |
| CWIP | 1 | 2 | 3 | 6 | 6 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 114 | 118 | 191 | 212 | 240 |
| Total Assets | 140 | 146 | 220 | 249 | 278 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 24 | -7 | 88 | -16 | 42 |
| Cash from Investing Activity | -1 | -1 | -2 | -2 | 2 |
| Cash from Financing Activity | -6 | -7 | -6 | -8 | -11 |
| Net Cash Flow | 16 | -15 | 79 | -26 | 34 |
| Free Cash Flow | 22 | -9 | 84 | -26 | 38 |
| CFO/OP | 106 | 38 | 220 | -34 | 82 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 2 | 27 | 26 | 30 | 20 |
| Inventory Days | 908 | 549 | 198 | 317 | 357 |
| Days Payable | 284 | 213 | 72 | 59 | 93 |
| Cash Conversion Cycle | 626 | 363 | 152 | 289 | 284 |
| Working Capital Days | 5 | 43 | -38 | 15 | 20 |
| ROCE % | — | 45 | 68 | 57 | 55 |

## Shareholding Pattern

### annual

| Category | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- |
| Promoters | 73.42% | 73.82% | 73.97% | 73.99% |
| Public | 26.59% | 26.17% | 26.04% | 26.02% |
| No. of Shareholders | 100 | 194 | 725 | 734 |

### Quarterly

| Category | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.41% | 73.42% | 73.42% | 73.42% | 73.42% | 73.42% | 73.42% | 73.82% | 73.82% | 73.97% | 73.99% |
| Public | 26.59% | 26.59% | 26.59% | 26.59% | 26.58% | 26.59% | 26.59% | 26.17% | 26.18% | 26.04% | 26.02% |
| No. of Shareholders | 368 | 83 | 86 | 100 | 127 | 157 | 176 | 194 | 719 | 725 | 734 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 4 / 3 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1004.65 | Sell |
| EMA (10) | 994.55 | Sell |
| SMA (20) | 1031.53 | Sell |
| EMA (20) | 1017.78 | Sell |
| SMA (50) | 1067.02 | Sell |
| EMA (50) | 1056.21 | Sell |
| SMA (100) | 1104.08 | Sell |
| EMA (100) | 1093.64 | Sell |
| SMA (200) | 1152.48 | Sell |
| EMA (200) | 1132.14 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 29.3 | Buy |
| MACD (12,26,9) | -26.53 | Sell |
| Stochastic (14,3,3) | 9.25 | Buy |
| ADX (14) | 24.8 | Neutral |
| Williams %R (14) | -95.38 | Buy |
| ATR (14) | 33.83 | High Volatility |
| ROC (12) | -10.25 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 38.76 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2025-12-24 | [Closure of Trading Window](https://www.bseindia.com/xml-data/corpfiling/AttachHis/056dce64-5fdf-4cb7-8767-4955e548350a.pdf) |
| 2025-11-14 | [UNAUDITED FINANCIAL RESULTS FOR THE HALF YEAR 30TH SEPTEMBER 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6f1e8e34-3d63-4990-8a03-608db2900502.pdf) |
| 2025-11-14 | [Non-Applicability Of Statement For Deviation(S) Or Variation(S) Under Regulation 32 Of The SEBI (LODR) Regulations, 2015 For The Half Year Ended 30Th September 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c5ddc1a5-edb6-4d2d-bc20-955fc03296d1.pdf) |
| 2025-11-14 | [Declaration Regarding Non-Applicability Of Regulation 23 Of SEBI (LODR) Regulations 2015 For The Half-Year Ended 30Th September 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/767416cc-4fb8-46e7-9aa0-2694bb4af99f.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0bf5ea8f-d735-465f-8237-ac40221e0ab6.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b3d04833-bffe-4a35-86ee-c7ebc0f7b685.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e2d47313-e28b-4d4c-9097-8955995f983d.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/543538/75556543538.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-12-10 | Credit rating update — CRISIL |
| 2025-07-07 | Credit rating update — CARE Ratings |
| 2024-10-28 | Credit rating update — CRISIL |
| 2024-06-28 | Credit rating update — CARE Ratings |
| 2023-08-10 | Credit rating update — CRISIL |
| 2023-05-30 | Credit rating update — CARE Ratings |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:01:45.681Z.