---
title: "Msafe Equipments Ltd (544695) — Share Price, Financials & Analysis"
symbol: "544695"
company: "Msafe Equipments Ltd"
canonical: "https://tapetide.com/stocks/544695"
isin: "INE2B5L01011"
nse_symbol: "MSAFEEQUIPMENTSLTD"
bse_code: "544695"
sector: "Metals & Mining"
industry: "Aluminium"
market_cap_cr: 571.22
generated_at: "2026-09-13T20:16:23.048Z"
---

# Msafe Equipments Ltd (544695)

Canonical page: https://tapetide.com/stocks/544695

## Company

- **NSE Symbol:** MSAFEEQUIPMENTSLTD
- **BSE Code:** 544695
- **ISIN:** INE2B5L01011
- **Sector:** Metals & Mining
- **Industry:** Aluminium
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2026-02-04
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** msafegroup.com

## About

Incorporated in 2019, Msafe Equipments Limited is engaged in the manufacturing, sales, and rental of access and height-safety equipment used for safe working at heights.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:34:25.268900Z.

- **Market Cap:** ₹571.22 Cr
- **Classification:** SME
- **P/E (reported):** 0
- **Book Value:** ₹48.04
- **Price to Book:** 5.87
- **Dividend Yield:** 0%
- **ROE:** 22.88%
- **ROCE:** 30.33%
- **Debt to Equity:** 0.4
- **Revenue (yearly):** ₹104.1 Cr
- **Net Income:** ₹22.4 Cr
- **EBITDA:** ₹41.4 Cr
- **52-Week High:** ₹291
- **52-Week Low:** ₹102
- **RSI (14):** 78.55

## Key Insights

### Strengths

- Company has delivered good profit growth of 141% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 49.3%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -19.65% | 78.76% | 868.91% |
| ebitda margin growth | 12.71% | 8.18% | 25.58% | 21.63% |
| net income growth | 12.31% | 72.31% | 89% | 141% |
| revenue growth | 13.64% | 45.39% | 56% | 79% |
| roce | — | -53.46% | -52.98% | 64.35% |
| roe | — | -54.9% | 41.82% | -73.43% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- |
| Sales | 22.72 | 28.11 | 31.79 |
| Expenses | 13.94 | 16.78 | 19.17 |
| Operating Profit | 8.78 | 11.33 | 12.62 |
| OPM % | 38.64 | 40.31 | 39.7 |
| Other Income | 0.03 | 0.45 | 0.66 |
| Interest | 0.78 | 0.9 | 0.92 |
| Depreciation | 1.38 | 2.21 | 2.63 |
| Profit before tax | 6.65 | 8.67 | 9.73 |
| Tax % | 24.21 | 24.91 | 25.28 |
| Net Profit | 5.04 | 6.51 | 7.27 |
| EPS in Rs | 50.4 | 3.19 | 3.56 |

### Profit & Loss

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 6 | 16 | 27 | 48 | 71 | 103 |
| Expenses | 4 | 11 | 20 | 32 | 45 | 59 |
| Operating Profit | 1 | 4 | 7 | 16 | 26 | 44 |
| OPM % | 22 | 27 | 24 | 33 | 37 | 43 |
| Other Income | 1 | 1 | 3 | 0 | 0 | -2 |
| Interest | 1 | 1 | 1 | 2 | 3 | 3 |
| Depreciation | 1 | 2 | 3 | 5 | 6 | 8 |
| Profit before tax | 0 | 3 | 5 | 9 | 17 | 30 |
| Tax % | 25 | 26 | 27 | 25 | 25 | 25 |
| Net Profit | 0 | 2 | 4 | 7 | 13 | 22 |
| EPS in Rs | 300 | 2090 | 36.1 | 65.5 | 130.1 | 10.99 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.01 | 0.01 | 1 | 1 | 1 | 20 |
| Reserves | 0 | 2 | 5 | 12 | 25 | 78 |
| Borrowings | 9 | 11 | 20 | 26 | 33 | 39 |
| Other Liabilities | 2 | 7 | 7 | 10 | 12 | 12 |
| Total Liabilities | 11 | 20 | 34 | 48 | 70 | 149 |
| Fixed Assets | 7 | 13 | 22 | 27 | 39 | 49 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 1 | 1 | 0 | 0 |
| Other Assets | 4 | 7 | 11 | 21 | 31 | 100 |
| Total Assets | 11 | 20 | 34 | 48 | 70 | 149 |

### Cash Flow

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | 5 | 6 | 14 | 12 |
| Cash from Investing Activity | — | — | -13 | -10 | -18 | -63 |
| Cash from Financing Activity | — | — | 9 | 3 | 4 | 52 |
| Net Cash Flow | — | — | 0 | 0 | 0 | 0 |
| Free Cash Flow | — | — | -8 | -3 | -4 | -9 |
| CFO/OP | — | — | 80 | 50 | 68 | 50 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 142 | 118 | 96 | 90 | 83 | 84 |
| Inventory Days | 63 | 42 | 51 | 94 | 179 | 379 |
| Days Payable | 249 | 565 | 272 | 122 | 127 | 68 |
| Cash Conversion Cycle | -44 | -405 | -125 | 63 | 134 | 395 |
| Working Capital Days | -352 | -230 | -180 | -95 | -54 | 52 |
| ROCE % | — | 35 | 32 | 35 | 42 | 37 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- |
| Promoters | 100% | 72.84% | 73.23% |
| FIIs | 0% | 3.36% | 2.16% |
| DIIs | 0% | 8.94% | 7.6% |
| Government | 0% | 0% | 0% |
| Public | 0% | 10.02% | 12.79% |
| Others | 0% | 4.84% | 4.23% |
| No. of Shareholders | 7 | 556 | 1014 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 3 / 5

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 259.06 | Buy |
| EMA (10) | 264.75 | Buy |
| SMA (20) | 243.88 | Buy |
| EMA (20) | 247.8 | Buy |
| SMA (50) | 214.04 | Buy |
| EMA (50) | 220.3 | Buy |
| SMA (100) | 186.56 | Buy |
| EMA (100) | 192.17 | Buy |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

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

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 81.46 | Sell |
| MACD (12,26,9) | 19.99 | Buy |
| Stochastic (14,3,3) | 92.75 | Sell |
| ADX (14) | 54.64 | Buy |
| Williams %R (14) | -0.2 | Sell |
| ATR (14) | 12.69 | High Volatility |
| ROC (12) | 26.11 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 73.75 | Sell |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 Apr - Msafe appoints Rajneesh Kumar as President MRO & Ladder from 8 Apr 2026; Sonam Nair resigns effective 30 Apr 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 8 Apr - Msafe appoints Rajneesh Kumar as President MRO & Ladder from 8 Apr 2026; Sonam Nair resigns effective 30 Apr 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b9ac57da-5e13-4926-a085-c8fee19e124f.pdf) |
| 6 May - Board meeting on 11 May 2026 to approve audited FY26 and half-year results. | [Board Meeting Intimation for To Consider And Approve The Audited Financial Results For The Half Year And Year Ended March 31 2026 6 May - Board meeting on 11 May 2026 to approve audited FY26 and half-year results.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/a737c82b-845d-4f32-8175-4f07dd2eadb2.pdf) |
| 31 Mar - Promoter Pradeep Aggarwal acquired 1,000 shares on 30.03.2026; Form C filed under Reg 7(2). | [Intimation Under Regulation 7(2) Of SEBI (Prohibition And Insider Trading) Regulations 2015 31 Mar - Promoter Pradeep Aggarwal acquired 1,000 shares on 30.03.2026; Form C filed under Reg 7(2).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9f5693cb-ecc5-4656-a565-6fe98047802c.pdf) |
| 31 Mar - Promoter Ajay Kanoi acquired 67,000 shares on 30 Mar 2026; Form C disclosure. | [Intimation Under Regulation 7(2) Of SEBI (Prohibition And Insider Trading) Regulations 2015 31 Mar - Promoter Ajay Kanoi acquired 67,000 shares on 30 Mar 2026; Form C disclosure.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/302fe474-ce4e-41b9-aed8-e7f71aa64b72.pdf) |
| 27 Mar - Trading window closed Apr 01, 2026 until 48 hours after audited FY/H1 results announcement. | [Closure of Trading Window 27 Mar - Trading window closed Apr 01, 2026 until 48 hours after audited FY/H1 results announcement.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/292b9636-9e74-47bd-bc9f-c3f891ace1e0.pdf) |
| 27 Apr - Msafe Equipments confirms it is not a Large Corporate as of 31 March 2026. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 27 Apr - Msafe Equipments confirms it is not a Large Corporate as of 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/000dd562-6aed-46b1-8f35-361d86a44200.pdf) |
| 20 Mar - Board approved shifting registered office from Preet Vihar to Vivek Vihar, New Delhi effective 20.03.2026. | [Announcement under Regulation 30 (LODR)-Change in Registered Office Address 20 Mar - Board approved shifting registered office from Preet Vihar to Vivek Vihar, New Delhi effective 20.03.2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d2738834-eefe-43e7-a015-b3413172a8ea.pdf) |
| 20 Mar - Board approved new registered office; appointed Mr. Hitender CEO, Rachit Jain Business Head; auditors appointed, effective 20 Mar 2026. | [Disclosure Under Regulation 30 Of SEBI LODR 2015 For Appointment Of Secretarial Auditor And Internal Auditor Of The Company 20 Mar - Board approved new registered office; appointed Mr. Hitender CEO, Rachit Jain Business Head; auditors appointed, effective 20 Mar 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/80f948a4-300b-4600-bb72-f600b7e79efd.pdf) |
| 20 Mar - Appointed Hitender as CEO and Rachit Jain as Business Head-Formwork, effective 20 March 2026. | [Announcement under Regulation 30 (LODR)-Change in Management 20 Mar - Appointed Hitender as CEO and Rachit Jain as Business Head-Formwork, effective 20 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ce078d25-8251-47ee-b0d6-7fcab2744180.pdf) |
| 20 Mar - 20 Mar 2026: Appointed CEO Hitender, Business Head Rachit Jain; changed registered office; appointed internal and secretarial auditors. | [Board Meeting Outcome for Outcome Of The Board Meeting Held On 20Th March 2026 20 Mar - 20 Mar 2026: Appointed CEO Hitender, Business Head Rachit Jain; changed registered office; appointed internal and secretarial auditors.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9dc25246-4b7d-4527-b208-c5ed23d74c51.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=985e3106-74f5-4178-877c-4c750d291d35.pdf) |
| 2026-08-27 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5b96ce6f-29ee-4354-be26-6634e367198f.pdf) |
| 2026-08-26 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=37109cdc-de7f-42a2-a817-4a7d95673a8f.pdf) |
| 2026-08-19 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dbc3e943-ae31-4d6d-919d-fc72e7ee9835.pdf) |
| 2026-08-18 | [Notice Of 7Th Annual General Meeting Of The Company.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=613a8282-17a6-41b2-8d12-2b41999a5f25.pdf) |
| 2026-08-18 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8a4fbc43-16d5-432b-a260-ae9e003b9327.pdf) |
| 2026-08-18 | [Intimation Under Regulation 36(1)(B) Of SEBI LODR 2015- Letter To Shareholders](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6db409ea-836f-453f-8517-c153fb4bf838.pdf) |
| 2026-08-10 | [Board Meeting Outcome for Outcome Of The Board Meeting Held On 10Th August 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0318bdb2-0dad-4730-81f7-69017fb68e9e.pdf) |
| 2026-08-10 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ab2c9ccc-e586-4808-8cbc-cc3e5f1f6cf7.pdf) |
| 2026-08-10 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=74ffd162-41f6-49ae-826f-7a276e96616b.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-09-05 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b4f90a08-7e05-4374-b897-d6ac45aa562d.pdf) |
| 2026-08-11 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=77fe9963-466f-4ee8-b792-169998b9c1ba.pdf) |
| 2026-05-11 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=94f122a8-48fb-44a7-bfa8-64b760000fbc.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bd431c36-6fb1-4392-bc31-e8d52c8c654c.pdf) |
| 2026-05-19 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6c461220-211b-487d-9f9a-4066faa6ce41.pdf) |

### Earnings Call Recordings

| Date | Document |
| --- | --- |
| 2026-08-12 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=51190d0e-e816-46ff-a662-eb71703102bb.pdf) |
| 2026-05-15 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c8d1360e-d8ba-457f-904d-fa3b98a18e66.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-10 | [Financial Results For June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c0f751e5-0fe4-4d36-bfa5-17c24423ae65.pdf) |
| 2026-05-11 | [Intimation Regarding Submission Of Audited Financial Results For The Half-Year And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=faebfa5c-7928-4676-9680-6e980db50497.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6c461220-211b-487d-9f9a-4066faa6ce41.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachLive/6c461220-211b-487d-9f9a-4066faa6ce41.pdf) |
| May 2026 | [Concall - May 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/94f122a8-48fb-44a7-bfa8-64b760000fbc.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/AHIMSANATURALS_28052025155811_SANL_Investor_Presentation_Signed.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://nsearchives.nseindia.com/corporate/AHIMSANATURALS_25082025144828_Ahimsa_Investor_Presentation.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28724_SHRIAHIMSA_2024_2025_A_4175833_06092025114257.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 2026-09-13T20:16:23.048Z.