---
title: "Mahindra Composites Ltd(Merged) (524138) — Share Price, Financials & Analysis"
symbol: "524138"
company: "Mahindra Composites Ltd(Merged)"
canonical: "https://tapetide.com/stocks/524138"
isin: "INE219G01015"
bse_code: "524138"
generated_at: "2026-10-13T10:59:42.175Z"
---

# Mahindra Composites Ltd(Merged) (524138)

Canonical page: https://tapetide.com/stocks/524138

## Company

- **BSE Code:** 524138
- **ISIN:** INE219G01015
- **Stock Type:** DELISTED
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** mahindracomposites.com

## About

Mahindra Composites Ltd is an India-based company. The company is operating in the business of automotive components and the performance of auto component industry.

## Latest Price

## Key Insights

### Weaknesses

- Stock is trading at 5.30 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 9.11% over past five years.
- Company has a low return on equity of -1.62% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 74% | — | — |
| revenue growth | 31% | 8% | 9% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 11.76 | 13.21 | 17.64 | 15.5 | 20.06 | 19.13 | 18.51 |
| Expenses | 11.38 | 13.9 | 16.99 | 15.08 | 18.6 | 17.99 | 18.06 |
| Operating Profit | 0.38 | -0.69 | 0.65 | 0.42 | 1.46 | 1.14 | 0.45 |
| OPM % | 3.23 | -5.22 | 3.68 | 2.71 | 7.28 | 5.96 | 2.43 |
| Other Income | 0 | 1.92 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0.24 | 0.25 | 0.24 | 0.27 | 0.26 | 0.35 | 0.33 |
| Depreciation | 0.45 | 0.45 | 0.51 | 0.51 | 0.54 | 0.45 | 0.45 |
| Profit before tax | -0.31 | 0.53 | -0.1 | -0.36 | 0.66 | 0.34 | -0.33 |
| Tax % | 9.68 | 7.55 | -100 | -2.78 | 0 | 17.65 | -36.36 |
| Net Profit | -0.34 | 0.49 | 0 | -0.35 | 0.66 | 0.28 | -0.21 |
| EPS in Rs | -0.77 | 1.11 | 0 | -0.8 | 1.5 | 0.64 | -0.48 |

### Profit & Loss

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 20.21 | 26.09 | 32.26 | 42.71 | 46 | 52.35 | 56.24 | 50.34 | 66.04 | 73.2 |
| Expenses | 18.46 | 24.73 | 29.38 | 37.76 | 40.32 | 47.28 | 52.3 | 48.51 | 64.64 | 69.73 |
| Operating Profit | 1.75 | 1.36 | 2.88 | 4.95 | 5.68 | 5.07 | 3.94 | 1.83 | 1.4 | 3.47 |
| OPM % | 8.66 | 5.21 | 8.93 | 11.59 | 12.35 | 9.68 | 7.01 | 3.64 | 2.12 | 4.74 |
| Other Income | 0.45 | 0.13 | 0.05 | 1.02 | 0.27 | 0.61 | -1.66 | 0.07 | 2.37 | 0 |
| Interest | 0.15 | 0.39 | 0.64 | 0.57 | 0.72 | 0.86 | 0.98 | 1.12 | 1.03 | 1.21 |
| Depreciation | 0.63 | 0.71 | 0.74 | 0.86 | 1.37 | 1.07 | 1.45 | 1.73 | 2.03 | 1.95 |
| Profit before tax | 1.42 | 0.39 | 1.55 | 4.54 | 3.86 | 3.75 | -0.15 | -0.95 | 0.71 | 0.31 |
| Tax % | 38.03 | 43.59 | 29.03 | 36.56 | 33.42 | 35.2 | 500 | 3.16 | -9.86 | — |
| Net Profit | 0.88 | 0.22 | 1.1 | 2.88 | 2.57 | 2.43 | -0.91 | -0.98 | 0.78 | 0.38 |
| EPS in Rs | — | — | — | — | — | 5.52 | -2.07 | -2.23 | 1.77 | 0.86 |
| Dividend Payout % | 49.89 | 0 | 39.91 | 30.49 | 34.16 | 36.21 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.39 | 4.39 | 4.39 | 4.39 | 4.39 | 4.4 | 4.41 | 4.41 | 4.42 |
| Reserves | 6.26 | 6.48 | 7.07 | 8.92 | 10.6 | 12.07 | 11.2 | 10.22 | 11.01 |
| Borrowings | 4.14 | 5.36 | 5.15 | 5.05 | 5.57 | 5.91 | 8.8 | 7.61 | 8.18 |
| Other Liabilities | 5.19 | 6.14 | 7.58 | 8.3 | 7.8 | 9.39 | 10.74 | 11.96 | 18.23 |
| Total Liabilities | 19.98 | 22.37 | 24.19 | 26.66 | 28.36 | 31.77 | 35.15 | 34.2 | 41.84 |
| Fixed Assets | 7.01 | 7.61 | 7.4 | 7.61 | 7.75 | 9.2 | 10.39 | 9.49 | 8.97 |
| CWIP | 0.67 | 0.07 | 0.05 | 0.37 | 0.47 | 0.18 | 0.01 | 0.79 | 0.92 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 12.3 | 14.69 | 16.74 | 18.68 | 20.14 | 22.39 | 24.75 | 23.92 | 31.95 |
| Total Assets | 19.98 | 22.37 | 24.19 | 26.66 | 28.36 | 31.77 | 35.15 | 34.2 | 41.84 |

### Cash Flow

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.36 | 0.83 | 1.14 | 2.76 | 2.79 | 3.74 | 1.38 | 3.51 | 3.13 |
| Cash from Investing Activity | -0.6 | -0.86 | -0.57 | -1.4 | -1.82 | -1.79 | -2.73 | -1.19 | -1.68 |
| Cash from Financing Activity | 1.22 | 0.37 | -0.86 | -1.21 | -1.22 | -1.68 | 0.96 | -2.24 | -1.35 |
| Net Cash Flow | 0.26 | 0.34 | -0.29 | 0.15 | -0.25 | 0.27 | -0.39 | 0.08 | 0.1 |
| Free Cash Flow | -0.93 | 0.11 | 0.59 | 1.33 | 1.16 | 1.44 | -1.35 | 2.32 | 1.5 |
| CFO/OP | -1 | 92 | 56 | 90 | 72 | 107 | 58 | 214 | 224 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 158.39 | 131.09 | 129.21 | 103.92 | 104.9 | 104.51 | 117.02 | 106.8 | 120.21 |
| Inventory Days | 47.93 | 47.88 | 42.45 | 44 | 50.02 | 41.78 | 37.11 | 62.65 | 43.63 |
| Days Payable | 109.3 | 110.37 | 94.17 | 73.46 | 61.65 | 66.79 | 61.46 | 82.08 | 107.67 |
| Cash Conversion Cycle | 97.02 | 68.59 | 77.48 | 74.46 | 93.26 | 79.51 | 92.66 | 87.37 | 56.17 |
| Working Capital Days | 122.81 | 109.12 | 96.96 | 84.43 | 92.44 | 88.13 | 88.13 | 85.05 | 72.68 |
| ROCE % | — | 5.09 | 13.64 | 29.28 | 23.48 | 21.47 | 12.7 | 0.69 | 3.05 |

## Shareholding Pattern

### annual

| Category | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 53.12% | 53.12% | 53.12% | 53.12% | 53.11% | 53.11% | 53.11% | 53.11% |
| Public | 46.88% | 46.88% | 46.88% | 46.88% | 46.89% | 46.89% | 46.89% | 46.89% |
| No. of Shareholders | 68 | 68 | 69 | 70 | 70 | 70 | 70 | 70 |

### Quarterly

| Category | Mar 2020 | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 53.12% | 53.12% | 53.12% | 53.12% | 53.12% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% | 53.11% |
| Public | 46.88% | 46.88% | 46.88% | 46.88% | 46.88% | 46.89% | 46.89% | 46.89% | 46.89% | 46.89% | 46.89% | 46.89% |
| No. of Shareholders | 68 | 68 | 69 | 70 | 70 | 70 | 70 | 69 | 70 | 70 | 70 | 70 |

## 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 / 5 / 1

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 521.41 | Buy |
| EMA (10) | 518.73 | Buy |
| SMA (20) | 499.03 | Buy |
| EMA (20) | 498.48 | Buy |
| SMA (50) | 442.27 | Buy |
| EMA (50) | 458.27 | Buy |
| SMA (100) | 413.81 | Buy |
| EMA (100) | 424.33 | Buy |
| SMA (200) | 377.13 | Buy |
| EMA (200) | 388.6 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 65.56 | Neutral |
| MACD (12,26,9) | 26.8 | Buy |
| Stochastic (14,3,3) | 66.05 | Neutral |
| ADX (14) | 35.78 | Buy |
| Williams %R (14) | -27.56 | Neutral |
| ATR (14) | 34.99 | High Volatility |
| ROC (12) | 16.63 | Buy |
| Stoch RSI (14) | 82.56 | Sell |
| UO (7,14,28) | 51.53 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-01-08 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b432fb4d-24e0-4cd7-9e7d-0cb2dbffe356.pdf) |
| 2025-12-18 | [Announcement under Regulation 30 (LODR)-Meeting Updates](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9b1ba49-02a3-4fb4-8e76-d5600e0175db.pdf) |
| 2025-11-14 | [Board Meeting Outcome for Board Meeting Outcome For Board Meeting Outcome For The Board Has Decided To Approve Standalone Quarterly And Half Yearly Results Ended 30Th September,2025 Unaudited Financial Results For The Financial Year 2025-2026 Along With Auditors Report Thereon](https://www.bseindia.com/xml-data/corpfiling/AttachHis/45d57a33-2da1-43fc-b283-6dd45a581e1b.pdf) |
| 2025-11-14 | [Announcement under Regulation 30 (LODR)-Meeting Updates](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0693cdec-fd06-43c1-8b73-68aa4361c0fc.pdf) |
| 2025-11-06 | [Board Meeting Intimation for Notice Of Board Meeting- Regulation-29 Of The SEBI (Listing Obligations And Disclosures Requirements) Regulations, 2015](https://www.bseindia.com/xml-data/corpfiling/AttachHis/07e489d3-d359-4185-a5d4-dcd552718e5d.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/542002/72816542002_10_12_21.pdf) |
| 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/542002/67867542002_12_12_20.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/542002/5420020319.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/524138/5241380313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/524138/5241380312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/524138/5241380311.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 2026-10-13T10:59:42.175Z.