---
title: "Maxgrow India Ltd (521167) — Share Price, Financials & Analysis"
symbol: "521167"
company: "Maxgrow India Ltd"
canonical: "https://tapetide.com/stocks/521167"
isin: "INE485D01043"
nse_symbol: "MAXGROWLTD"
bse_code: "521167"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
market_cap_cr: 769.38
generated_at: "2026-09-13T18:58:40.511Z"
---

# Maxgrow India Ltd (521167)

Canonical page: https://tapetide.com/stocks/521167

## Company

- **NSE Symbol:** MAXGROWLTD
- **BSE Code:** 521167
- **ISIN:** INE485D01043
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** frontlinegroup.in

## About

Incorporated in 1994, Maxgrow India Ltd trades ferrous and non-ferrous scrap metals[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:37:24.950246Z.

- **Market Cap:** ₹769.38 Cr
- **Classification:** Microcap
- **P/E (reported):** 1.3
- **EPS (TTM):** ₹145.46
- **Book Value:** ₹518.78
- **Price to Book:** 0.36
- **Dividend Yield:** 0%
- **ROE:** 21.73%
- **ROCE:** 21.71%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹22426.3 Cr
- **Net Income:** ₹450.3 Cr
- **EBITDA:** ₹451.5 Cr
- **52-Week High:** ₹188.85
- **52-Week Low:** ₹14.05
- **RSI (14):** 96.04

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.37 times its book value
- Debtor days have improved from 162 to 46.8 days.
- Company's working capital requirements have reduced from 120 days to 32.3 days

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 407.89% | -27.35% | 126.24% |
| ebitda margin growth | 13.35% | 9.84% | — | — |
| net income growth | 13.55% | — | — | — |
| revenue growth | -1.08% | 713.22% | — | — |
| roce | 13.5% | — | — | — |
| roe | 13.52% | 970.44% | — | — |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2013 | Jun 2014 | Sep 2014 | Dec 2014 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4 | 4 | 5 | 1 | 0 | 0 | 2758 | 3550 | 5305 | 6106 | 7465 | 7385 |
| Expenses | 5 | 4 | 5 | 1 | 0 | 0 | 2707 | 3481 | 5210 | 5994 | 7289 | 7185 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 51 | 69 | 95 | 112 | 176 | 199 |
| OPM % | -12 | -3.1 | 1.8 | 3.6 | — | — | 1.8 | 1.9 | 1.8 | 1.8 | 2.4 | 2.7 |
| Other Income | 0 | 0 | 0 | 0 | 0 | -21 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -1 | 0 | 0 | 0 | 0 | -21 | 51 | 69 | 95 | 111 | 176 | 199 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | 0 | 0 | 0 | 0 | 0 | -21 | 51 | 69 | 95 | 111 | 176 | 199 |
| EPS in Rs | -0.23 | -0.07 | 0.03 | 0.01 | -0.02 | -5.2 | 12.65 | 17.2 | 23.66 | 27.91 | 43.97 | 49.92 |

### Profit & Loss

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

| Item | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- |
| Sales | 2758 | 22426 | 26261 |
| Expenses | 2707 | 21975 | 25679 |
| Operating Profit | 50 | 451 | 582 |
| OPM % | 1.8 | 2 | 2.2 |
| Other Income | -21 | 0 | 0 |
| Interest | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 |
| Profit before tax | 30 | 450 | 581 |
| Tax % | 0 | 0 | — |
| Net Profit | 30 | 450 | 581 |
| EPS in Rs | 7.42 | 112.72 | 145.46 |
| Dividend Payout % | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Equity Capital | 20 | 20 |
| Reserves | 1444 | 2052 |
| Borrowings | 297 | 2 |
| Other Liabilities | 393 | 892 |
| Total Liabilities | 2154 | 2966 |
| Fixed Assets | 5 | 5 |
| CWIP | 0 | 0 |
| Investments | 0 | 1 |
| Other Assets | 2148 | 2960 |
| Total Assets | 2154 | 2966 |

### Cash Flow

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

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Cash from Operating Activity | 41 | 211 |
| Cash from Investing Activity | 0 | 1 |
| Cash from Financing Activity | -43 | -210 |
| Net Cash Flow | -1 | 1 |
| Free Cash Flow | 41 | 211 |
| CFO/OP | 82 | 47 |

### Ratios

| Item | Mar 2025 | Mar 2026 |
| --- | --- | --- |
| Debtor Days | 278 | 47 |
| Inventory Days | 0 | 0 |
| Cash Conversion Cycle | 278 | 47 |
| Working Capital Days | 208 | 32 |
| ROCE % | — | 23 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 16.22% | 16.22% | 16.22% | 16.22% | 16.22% | 92.82% | 92.82% | 92.82% | 92.82% | 92.82% | 92.82% | 92.82% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 51.6% | 51.59% | 51.59% | 51.58% | 51.58% | 2.04% | 2.04% | 1.16% | 1.13% | 1.11% | 3.23% | 3.24% |
| Others | 32.17% | 32.18% | 32.18% | 32.19% | 32.19% | 5.14% | 5.14% | 6.02% | 6.05% | 6.07% | 3.96% | 3.95% |
| No. of Shareholders | 9412 | 9411 | 9408 | 9409 | 9404 | 8809 | 8825 | 2369 | 2333 | 2293 | 2747 | 3174 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 1 / 5

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 176.55 | Buy |
| EMA (10) | 175.15 | Buy |
| SMA (20) | 152.4 | Buy |
| EMA (20) | 155.22 | Buy |
| SMA (50) | 103.55 | Buy |
| EMA (50) | 117.38 | Buy |
| SMA (100) | 77.12 | Buy |
| EMA (100) | 87.29 | Buy |
| SMA (200) | 44.29 | Buy |
| EMA (200) | 58.97 | Buy |

### Oscillators — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 96.15 | Sell |
| MACD (12,26,9) | 25.74 | Buy |
| Stochastic (14,3,3) | 100 | Sell |
| ADX (14) | 74.1 | Buy |
| Williams %R (14) | 0 | Sell |
| ATR (14) | 4.43 | Neutral |
| ROC (12) | 34.24 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 98.55 | Sell |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4d039230-eff9-4bf5-949f-de624ec3e486.pdf) |
| 2026-09-05 | [Annual Report For The Financial Year 2025-26 And Notice Of 33Rd Annual General Meeting Of The Company](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=313bd89a-d3dd-4299-82e2-bfe8bc0ad0a7.pdf) |
| 2026-09-05 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=50a42558-4c7c-4fc1-8f79-bcc5f5f7b314.pdf) |
| 2026-08-29 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=563bb133-cf3f-4fdd-95cd-29593aa21867.pdf) |
| 2026-08-27 | [Board Meeting Outcome for Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9113169b-ec78-4a4a-8c15-f1dc0e9d11cc.pdf) |
| 2026-08-27 | [Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8f390b17-cc3b-4a39-9660-01a34a854ecb.pdf) |
| 2026-08-27 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2b7b2416-0bee-4022-8ebc-a36b54091522.pdf) |
| 2026-08-18 | [Published Financial Results In Newspaper For The Quarter Ended 30Th June 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=da137bc7-7260-4866-8431-517a7b12ef13.pdf) |
| 2026-08-17 | [Submission Of Consolidated Financial Results Inadvertently Omitted From The Outcome Of Board Meeting For The Quarter Ended June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=821dd12c-cf5d-4780-8dc4-8874fabf23c5.pdf) |
| 2026-08-15 | [Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=850ed839-78b3-4dee-bb90-fcbebdce8a22.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Results - Unaudited Standalone And Consolidated Financial Results For The Quarter Ended June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=78b0e972-9feb-4b7d-ac76-8b2cb4bb90f5.pdf) |
| 2026-04-03 | [Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Month Ended December 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=53028ec2-4850-4e99-8719-f1b6985f4fd1.pdf) |
| 2025-08-14 | [Results - Financial Results For Quarter June 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f33bf485-77ba-48ac-8e55-c836a6f61a42.pdf) |
| 2024-10-01 | [Financial Results For The Quarter Ended June 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a3a54d8c-6ab8-4a8e-8653-6afd0c7caece.pdf) |
| 2024-08-22 | [Financial Results Year Ended March 31, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fbc785f8-2ca1-4b16-97e3-996fe848a477.pdf) |
| 2024-08-22 | [Financial Results For Quarter Ended June 30, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ae5a4f61-85e2-42f0-a07c-728973bfcb4e.pdf) |
| 2024-08-22 | [Financial Results For Quarter And Half Year Ended September 30, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0ea1a6e1-dddf-4311-b637-31fe5da27acb.pdf) |
| 2024-08-22 | [Financial Results For Quarter And Nine Months Ended December 31, 2021](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cd87cc92-1673-4020-957c-cb9b7075aa6c.pdf) |
| 2024-08-22 | [Financial Results For The Year Ended March 31, 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9753f1c9-799b-4a31-ae8f-a272b9ee8dc0.pdf) |
| 2024-08-22 | [Financial Results For The Quarter Ended June 30, 2022](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a2602dcd-50a7-4d6b-b8a4-32e8c65b79db.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9h - Board approved Q3 FY26 standalone and consolidated results; appointed company secretary and secretarial auditor. | [Board Meeting Outcome for Outcome Of Board Meeting Of The Company Held On Friday, April 03, 2026. 9h - Board approved Q3 FY26 standalone and consolidated results; appointed company secretary and secretarial auditor.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/c1bc1056-37fd-4fef-ba7a-1bde7f6a2547.pdf) |
| 8 May - Copies of the newspaper publication of notice of Annual General Meeting of the Company. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 8 May - Copies of the newspaper publication of notice of Annual General Meeting of the Company.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/3660fef9-9006-46db-bfef-311656d43c52.pdf) |
| 6 Apr - Newspaper Publication of the un-audited finaicial results (Standalone and Consolidated) for the quarter and nine month ended December 31, 2025. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Apr - Newspaper Publication of the un-audited finaicial results (Standalone and Consolidated) for the quarter and nine month ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/334939da-5a0f-40aa-a74f-c974139ca14b.pdf) |
| 5 May - Annual report for FY24 filed; CIRP plan implemented, board reconstituted, old shares extinguished, fresh shares issued. | [Reg. 34 (1) Annual Report. 5 May - Annual report for FY24 filed; CIRP plan implemented, board reconstituted, old shares extinguished, fresh shares issued.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/555fd20a-badd-4698-9c50-1bbcf09ed958.pdf) |
| 3 Apr - Board approved Q3 FY26 standalone and consolidated results, appointed a company secretary and secretarial auditor. | [Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Month Ended December 31, 2025 3 Apr - Board approved Q3 FY26 standalone and consolidated results, appointed a company secretary and secretarial auditor.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/53028ec2-4850-4e99-8719-f1b6985f4fd1.pdf) |
| 3 Apr - Board approved Q3 FY26 results on April 3, 2026, and appointed a Company Secretary and secretarial auditor. | [Appointment of Company Secretary and Compliance Officer 3 Apr - Board approved Q3 FY26 results on April 3, 2026, and appointed a Company Secretary and secretarial auditor.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/afce93f1-273c-4f9c-a63d-23215d2e11ae.pdf) |
| 3 Apr - Board approved Q3 FY2026 standalone and consolidated results, appointed a company secretary and secretarial auditor. | [Board Meeting Outcome for Outcome Of Board Meeting Of The Company Held On Friday, April 03, 2026. 3 Apr - Board approved Q3 FY2026 standalone and consolidated results, appointed a company secretary and secretarial auditor.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/af7bb4a9-09e8-4ef6-82ce-8512802f837b.pdf) |
| 3 Apr - Board approved Q3 and nine-month results, appointed CS Akshay Kene and secretarial auditor on April 3, 2026. | [Appointment Of M/S. Abhay Kumar Pal & Co., PCS As Secretarial Auditors Of The Company 3 Apr - Board approved Q3 and nine-month results, appointed CS Akshay Kene and secretarial auditor on April 3, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bc7f6847-6c24-4f2e-84d0-613765ea0b5d.pdf) |
| 2h - Board approved statutory and secretarial auditor appointments; AGM scheduled for 1 June 2026. | [Board Meeting Outcome for Outcome Of Meeting 2h - Board approved statutory and secretarial auditor appointments; AGM scheduled for 1 June 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/7080b5f8-296d-49b6-b068-971d8cc43718.pdf) |
| 2d - Maxgrow filed FY2020-21 annual report; CIRP plan implemented, board reconstituted, shares extinguished and reissued. | [Reg. 34 (1) Annual Report. 2d - Maxgrow filed FY2020-21 annual report; CIRP plan implemented, board reconstituted, shares extinguished and reissued.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/4c69de9c-b830-4885-9e83-f7a88aa5fde1.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_3188_AMTEKINDIA_2012_2013_04032014100002.zip) |
| from nse | [Financial Year 2012 from nse](https://archives.nseindia.com/annual_reports/AR_AMTEKINDIA_2011_2012_14092012081245.zip) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c0eaa736-5098-4d9f-b896-6c3ba69048b7.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/555fd20a-badd-4698-9c50-1bbcf09ed958.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/59511956-d789-4d1d-8183-c7f29e89752b.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4af781d1-fbb9-4ae3-a9f7-e999f28b258f.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4c69de9c-b830-4885-9e83-f7a88aa5fde1.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport//68317532282.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/521167/66817521167.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/521167/5211670319.pdf) |

---

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 2026-09-13T18:58:40.511Z.