---
title: "Maheshwari Logistics Ltd (MAHESHWARI) — Share Price, Financials & Analysis"
symbol: "MAHESHWARI"
company: "Maheshwari Logistics Ltd"
canonical: "https://tapetide.com/stocks/MAHESHWARI"
isin: "INE263W01010"
nse_symbol: "MAHESHWARI"
sector: "Diversified"
industry: "Diversified Group"
market_cap_cr: 213.1
generated_at: "2026-09-13T20:16:52.039Z"
---

# Maheshwari Logistics Ltd (MAHESHWARI)

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

## Company

- **NSE Symbol:** MAHESHWARI
- **ISIN:** INE263W01010
- **Sector:** Diversified
- **Industry:** Diversified Group
- **Macro Sector:** Diversified
- **Stock Type:** EQUITY
- **Listed Since:** 2019-04-15
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** mlpl.biz

## About

Incorporated in 2006, Maheshwari Logistics 
 Ltd is in the business of carriers/ transporters, and dealing in Paper products and coal & lignite etc.[1]

## Latest Price

- **Price:** ₹70.71
- **Change:** -1.16 (-1.61%)
- **Open:** ₹71.52
- **Day High:** ₹72
- **Day Low:** ₹70.5
- **Previous Close:** ₹71.87
- **Volume:** 5358
- **As Of:** 2026-09-11T09:51:41+00:00

## Key Fundamentals

Observed at 2026-09-11T04:41:14.588728Z.

- **Market Cap:** ₹213.1 Cr
- **Classification:** Microcap
- **P/E (reported):** 13.2
- **P/E (TTM):** 13.27
- **EPS (TTM):** ₹5.33
- **Book Value:** ₹72.94
- **Price to Book:** 0.99
- **Dividend Yield:** 0.7%
- **ROE:** 9.16%
- **ROCE:** 20.25%
- **Debt to Equity:** 1.28
- **Revenue (yearly):** ₹1110.01 Cr
- **Net Income:** ₹18.33 Cr
- **EBITDA:** ₹70.43 Cr
- **52-Week High:** ₹76.81
- **52-Week Low:** ₹39.04
- **RSI (14):** 47.83

## Tapetide Score

- **Score:** 48 / 100
- **Score date:** 2026-09-04
- **Archetype:** Average Quality, Undemanding Price
- **What it means:** The financials sit mid-range rather than strong, and the multiple is not demanding. Nothing here stands out in either direction, so the read comes down to which single pillar you weight most and whether the next results move it off the middle.
- **Pillar profile:** Quality: Average · Valuation: Fair · Momentum: Rising
- **Percentile:** 39.4 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 18.06 | 9% |
| growth | 62.38 | 9% |
| momentum | 98.8 | 12% |
| ownership | 33.7 | 24% |
| quality | 56.45 | 22% |
| valuation | 57.29 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.97 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.5% over past five years.
- Company has a low return on equity of 8.47% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 905.62% | 49.52% | 20.95% |
| ebitda margin growth | -10.2% | -16.09% | 14.1% | 19.96% |
| net income growth | -37.74% | -0.38% | 8% | 13% |
| revenue growth | -15.34% | 13.49% | -1% | 11% |
| roce | -12.19% | 26.09% | 32.61% | 16.47% |
| roe | -37.26% | 20.69% | 8.27% | 36.92% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 239.53 | 276.59 | 260.63 | 250.02 | 228.73 | 235.36 | 259.03 | 268.14 | 275.11 | 272.84 | 293.92 | 249 |
| Expenses | 225.14 | 263.69 | 247.29 | 235.62 | 212.86 | 215.8 | 240.26 | 250.36 | 258.5 | 254.99 | 275.73 | 232.38 |
| Operating Profit | 14.39 | 12.9 | 13.34 | 14.4 | 15.87 | 19.56 | 18.77 | 17.78 | 16.61 | 17.85 | 18.19 | 16.62 |
| OPM % | 6.01 | 4.66 | 5.12 | 5.76 | 6.94 | 8.31 | 7.25 | 6.63 | 6.04 | 6.54 | 6.19 | 6.67 |
| Other Income | 0.52 | 1.78 | 1.03 | 0.82 | 1.52 | -0.13 | 2.7 | 1.15 | 2.47 | 0.7 | 1.38 | 0.99 |
| Interest | 6.25 | 6.99 | 8.17 | 7.79 | 7.76 | 9.28 | 7.67 | 8.83 | 8.68 | 8.21 | 9.35 | 8.39 |
| Depreciation | 2.79 | 2.94 | 3.48 | 3.55 | 3.91 | 4.39 | 4.18 | 3.84 | 4.5 | 4.64 | 4.47 | 4.35 |
| Profit before tax | 5.87 | 4.75 | 2.72 | 3.88 | 5.72 | 5.76 | 9.62 | 6.26 | 5.9 | 5.7 | 5.75 | 4.87 |
| Tax % | 27.94 | 34.53 | -19.49 | 6.44 | 30.59 | 54.69 | 14.66 | 30.67 | 32.54 | 38.42 | 8.52 | 32.24 |
| Net Profit | 4.23 | 3.11 | 3.26 | 3.62 | 3.97 | 2.61 | 8.22 | 4.34 | 3.99 | 3.52 | 5.26 | 3.3 |
| EPS in Rs | 1.33 | 0.99 | 1.11 | 1.25 | 1.35 | 0.91 | 2.63 | 1.47 | 1.34 | 1.29 | 1.59 | 1.11 |

### Profit & Loss

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 867 | 1035 | 758 | 673 | 1033 | 1147 | 1047 | 972 | 1110 | 1091 |
| Expenses | 832 | 988 | 707 | 630 | 981 | 1097 | 993 | 903 | 1040 | 1022 |
| Operating Profit | 35 | 46 | 51 | 44 | 52 | 50 | 54 | 69 | 70 | 69 |
| OPM % | 4.1 | 4.5 | 7 | 6 | 5 | 4.4 | 5 | 7 | 6 | 6 |
| Other Income | 3 | 3 | 2 | 2 | 3 | 2 | 4 | 5 | 6 | 6 |
| Interest | 13 | 18 | 22 | 20 | 19 | 23 | 28 | 33 | 35 | 35 |
| Depreciation | 7 | 8 | 12 | 13 | 12 | 12 | 12 | 16 | 17 | 18 |
| Profit before tax | 18 | 23 | 20 | 13 | 24 | 18 | 18 | 25 | 24 | 22 |
| Tax % | 35 | 35 | 27 | 28 | 28 | 26 | 25 | 26 | 28 | — |
| Net Profit | 12 | 15 | 15 | 9 | 17 | 13 | 14 | 18 | 17 | 16 |
| EPS in Rs | 3.94 | 5.09 | 4.97 | 3.14 | 5.79 | 4.55 | 4.65 | 6.22 | 5.69 | 5.33 |
| Dividend Payout % | 13 | 12 | 0 | 16 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 15 | 15 | 15 | 30 | 30 | 30 | 30 | 30 | 30 |
| Reserves | 88 | 102 | 115 | 109 | 125 | 137 | 151 | 169 | 186 |
| Borrowings | 130 | 142 | 147 | 141 | 177 | 207 | 248 | 269 | 276 |
| Other Liabilities | 107 | 114 | 84 | 88 | 97 | 106 | 118 | 145 | 157 |
| Total Liabilities | 340 | 373 | 361 | 368 | 429 | 479 | 547 | 613 | 648 |
| Fixed Assets | 64 | 73 | 117 | 109 | 110 | 107 | 149 | 162 | 187 |
| CWIP | 5 | 38 | 1 | 5 | 15 | 37 | 28 | 30 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 4 | 4 | 2 | 2 |
| Other Assets | 271 | 262 | 242 | 254 | 304 | 332 | 366 | 420 | 460 |
| Total Assets | 340 | 373 | 361 | 368 | 429 | 479 | 547 | 613 | 648 |

### Cash Flow

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

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 63 | 31 | 47 | 11 | 38 | 6 | 57 | 24 |
| Cash from Investing Activity | 0 | -49 | -20 | -6 | -37 | -31 | -43 | -26 | -10 |
| Cash from Financing Activity | 0 | -10 | -13 | -28 | 15 | -7 | 23 | -11 | -28 |
| Net Cash Flow | 0 | 4 | -2 | 13 | -11 | 0 | -14 | 21 | -15 |
| Free Cash Flow | 0 | 14 | 12 | 41 | -27 | 7 | -38 | 26 | 12 |
| CFO/OP | 0 | 149 | 68 | 115 | 35 | 84 | 18 | 91 | 47 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 68 | 44 | 56 | 65 | 47 | 45 | 51 | 58 | 61 |
| Inventory Days | 38 | 33 | 46 | 61 | 40 | 44 | 60 | 73 | 72 |
| Days Payable | 54 | 60 | 49 | 52 | 34 | 32 | 39 | 54 | 48 |
| Cash Conversion Cycle | 51 | 17 | 54 | 74 | 53 | 57 | 71 | 78 | 85 |
| Working Capital Days | 32 | 7 | 29 | 41 | 31 | 25 | 28 | 16 | 21 |
| ROCE % | — | 17 | 16 | 12 | 14 | 12 | 11 | 13 | 12 |

## 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 | 57.37% | 57.36% | 57.13% | 57.11% | 57.11% | 57.11% | 57.14% | 57.14% | 56.58% | 57.62% | 58.24% | 57.32% |
| 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 | 34.4% | 34.7% | 35.09% | 35.35% | 35.56% | 35.28% | 35.13% | 35.21% | 35.17% | 35.68% | 34.97% | 34.13% |
| Others | 8.23% | 7.94% | 7.77% | 7.53% | 7.33% | 7.61% | 7.73% | 7.65% | 8.25% | 6.71% | 6.79% | 8.55% |
| No. of Shareholders | 12757 | 13452 | 13126 | 12830 | 13274 | 13391 | 12959 | 12780 | 12452 | 12100 | 11836 | 10768 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 7 / 4 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 71.65 | Sell |
| EMA (10) | 71.75 | Sell |
| SMA (20) | 72.38 | Sell |
| EMA (20) | 72.13 | Sell |
| SMA (50) | 72.75 | Sell |
| EMA (50) | 71.23 | Sell |
| SMA (100) | 66.91 | Buy |
| EMA (100) | 67.01 | Buy |
| SMA (200) | 56.24 | Buy |
| EMA (200) | 61.87 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.83 | Neutral |
| MACD (12,26,9) | -0.34 | Sell |
| Stochastic (14,3,3) | 14.32 | Buy |
| ADX (14) | 12.25 | Neutral |
| Williams %R (14) | -93.7 | Buy |
| ATR (14) | 2.16 | High Volatility |
| ROC (12) | -4.45 | Sell |
| Stoch RSI (14) | 17.03 | Buy |
| UO (7,14,28) | 44.21 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-03 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/MAHESHWARI_03092026110237_IntimationofNewspaperPost.pdf) |
| 2026-09-02 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/MAHESHWARI_02092026121104_IntimationofRectifiedGujaratiNewspaper.pdf) |
| 2026-09-02 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_02092026174326_IntimationofNoticeofAGM.pdf) |
| 2026-09-01 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/MAHESHWARI_01092026155044_IntimationofNoticePre.pdf) |
| 2026-08-27 | [Record Date](https://nsearchives.nseindia.com/corporate/MAHESHWARI_27082026154251_IntimationforRecordDate.pdf) |
| 2026-08-14 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/MAHESHWARI_14082026115016_IntimationofNewspaperAd.pdf) |
| 2026-07-20 | [Reply to Clarification- Financial results](https://nsearchives.nseindia.com/corporate/MAHESHWARI_26062026170439_Clarification26062026.pdf) |
| 2026-07-09 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/MAHESHWARI_09072026110852_Intimation_under_Reg_74_5__of_DP_Regulation.pdf) |
| 2026-06-25 | [Trading Window](https://nsearchives.nseindia.com/corporate/MAHESHWARI_25062026123428_ClosureofTradingWindow30062026.pdf) |
| 2026-06-05 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_05062026172721_SubmissionofVotingResults.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-27 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_27082026153247_OutcomeofBM27082026.pdf) |
| 2026-08-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_13082026164732_OutcomeofBM13082026.pdf) |
| 2026-05-30 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_30052026171421_OutcomeofBM30052026.pdf) |
| 2026-04-30 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_30042026153116_OutcomeofCircularResolution30042026.pdf) |
| 2026-02-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_14022026170154_Outcome.pdf) |
| 2025-11-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_14112025163427_NSE.pdf) |
| 2025-11-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/MAHESHWARI_14112025163719_NSE.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 24 Jun - Exchange has sought clarification from Maheshwari Logistics Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On … | [Clarification - Financial Results 24 Jun - Exchange has sought clarification from Maheshwari Logistics Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …](https://www.nseindia.com/get-quotes/equity?symbol=MAHESHWARI) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_31126_MAHESHWARI_2025_2026_A_58838192_02092026175740.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28435_MAHESHWARI_2024_2025_A_8955428_04092025173434.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_25723_MAHESHWARI_2023_2024_0409202419215.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23767_MAHESHWARI_2022_2023_07092023172840_09072023180000.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_21571_MAHESHWARI_2021_2022_07092022121251_09072022130004.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/AR_19567_MAHESHWARI_2020_2021_07092021133729_09072021140003.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/AR_17479_MAHESHWARI_2019_2020_07092020092635_07092020100002.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/AR_15267_MAHESHWARI_2018_2019_20082019142409_20082019150003.zip) |

---

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 2026-09-13T20:16:52.039Z.