Maharashtra Scooters logo

Maharashtra Scooters

MAHSCOOTER NSE

Key Fundamentals

SmallcapInvestment CompanyFinancial Services
Market Cap
₹14,169 Cr
Volatility
Moderate
P/E Ratio
50.8
EBITDA
₹309 Cr
Return on Equity
1.12%
Debt to Equity
0
Book Value
₹24,180.45
52W High
₹17,799
52W Low
₹10,901

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is almost debt free.
  • Stock is trading at 0.51 times its book value
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 84.4%

Weaknesses

2
  • Tax rate seems low
  • Company has a low return on equity of 0.83% over last 3 years.

Growth Rate

Revenue Growth
69.11% higher than 3Y
Net Income Growth
44.94% higher than 3Y
Cash Flow Change
68.21% higher than 3Y
ROE
62.32% higher than 3Y
ROCE
61.29% higher than 3Y
EBITDA Margin (Avg.)
5.22% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk medium

Maharashtra Scooters Ltd has a market capitalisation of about ₹15,110 crore and trades at 0.55x book value and 54.3x earnings. Its return on equity has held at about 1% over the last 1, 3, 5 and 10 years. Trailing sales and profit grew 41% and 44%, but the stock is down 25% over the past year after a 24% 10-year CAGR. The company is almost debt free and pays out 84.4% of its profit as dividends, for a 1.21% yield.

Bull Case 8
  • The stock trades at 0.55x book value, a 45% discount. That implies a book value of about ₹27,500 crore against a market cap of about ₹15,110 crore.
  • The company is almost debt free, which limits balance-sheet and refinancing risk for a firm with a ₹15,110 crore market cap.
  • Dividend payout is 84.4%, returning most of its profit to shareholders and giving a 1.21% dividend yield.
  • Trailing (TTM) profit grew 44% and TTM sales grew 41%, so recent earnings momentum is strong.
  • Profit has compounded at 104% a year over 5 years and 17% a year over 3 years, well above the 12% 10-year rate.
  • Long-term returns have been steady: the stock's CAGR is 24% over 10 years, 22% over 5 years and 19% over 3 years.
  • The 25% fall over the past year has widened the discount to book (0.55x), a lower entry point than recent history.
  • The company is expected to post a good quarter, which would add to the 44% TTM profit growth.
Bear Case 8
  • Return on equity has been stuck at about 1% over 1, 3, 5 and 10 years (0.83% over the last 3 years). The large book value earns very little.
  • A P/E of 54.3 is high for a business earning about 1% ROE. It means an earnings yield of about 1.8%, only slightly above the 1.21% dividend yield.
  • The 0.55x price-to-book discount has persisted alongside ~1% ROE over 10 years. The low valuation may reflect weak returns on capital rather than a mispricing that will correct.
  • The stock is down 25% over the past year, sharply below its 24% 10-year CAGR. Recent sentiment has been weak.
  • Over 10 years, profit compounded at only 12% while sales compounded at 43%, so revenue growth has not turned into profit growth at the same rate.
  • Growth rates swing widely: 59% for 5-year sales and 104% for 5-year profit versus 13% and 17% over 3 years. Earnings look lumpy and hard to extrapolate.
  • The tax rate looks low. That could flatter reported earnings behind the 54.3x P/E and may not be sustainable if tax treatment changes.
  • With 84.4% of profit paid out, little is retained for reinvestment. That limits internal compounding given the ~1% ROE.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Positives 1
  • ₹160/share interim dividend declared Sep 15

    Maharashtra Scooters declared an interim dividend of ₹160 per share for FY ending March 31, 2027. The record date is September 21, 2026, and payment is due by October 13, 2026, which shows a sizable cash return to shareholders.

Neutral 2
  • Name, object clause change approved Sep 28

    Shareholders approved special resolutions to change the company's name and object clause through a postal ballot, with 99.98% of votes in favour. The near-unanimous vote suggests strong support, but the new name and any change to the business focus were not given in the article.

  • Dividend TDS, bank details advisory Sep 18

    The company told shareholders about Tax Deduction at Source (TDS) on interim dividends and the mandatory updating of bank account details for electronic payment. This is a routine administrative step ahead of the ₹160 per share payout.

TL;DR: Maharashtra Scooters is returning a large amount of cash to shareholders, with a ₹160 per share interim dividend for FY27 to be paid by October 13, 2026. Shareholders backed a name and object clause change with 99.98% of votes, which points to a possible restructuring or redefinition of the business, but the details are not yet known. None of the articles reported a headwind, though the company's value still depends mostly on its holding in the Bajaj group and the dividends that holding brings in. Investors should watch for the new name and revised business objects, since these could change how the market values the holding-company discount.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
5.26
206
6.37
5.18
7.72
163
5.79
6.65
29.27
271
6.44
6.03
5.41
Expenses
4.05
5.61
5.16
4.49
5.74
2.22
1.7
1.9
1.08
1.22
0.88
1.05
0.86
Operating Profit
1.21
200
1.21
0.69
1.98
161
4.09
4.75
28.19
270
5.56
4.98
4.55
OPM %
23%
97.28%
19%
13.32%
25.65%
98.64%
70.64%
71.43%
96.31%
99.55%
86.34%
82.59%
84.1%
Other Income
0
0.11
0.7
0
-13.23
0.22
0.7
57.78
0
0
0
0.48
0
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
0.52
0.52
0.51
0.52
0.52
0.48
0.48
0.48
0.01
0
0.01
0
0
PBT
0.69
200
1.4
0.17
-11.77
161
4.31
62.05
28.18
270
5.55
5.46
4.55
Tax %
30.43%
1.09%
28.57%
41.18%
-170.18%
5.93%
23.43%
16.79%
-25.48%
1.01%
25.77%
26.56%
27.03%
Net Profit
0.48
198
1
0.1
8.26
151
3.3
51.63
35.36
267
4.12
4.01
3.32
EPS in Rs
0.42
173
0.87
0.09
7.23
132
2.89
45.18
30.94
234
3.6
3.51
2.9
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
7
9
8
82
95
211
30
194
217
223
184
313
289
Expenses
12
15
14
20
20
20
20
20
23
19
12
4
4
Operating Profit
-5
-6
-6
61
75
191
11
174
194
203
173
309
285
OPM %
-72%
-72%
-69%
75%
79%
90%
35%
90%
90%
91%
94%
99%
99%
Other Income
63
108
21
1
1
3
0
0
1
1
44
0
0
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
3
1
1
1
2
2
2
2
2
2
2
0
0
PBT
55
101
14
61
74
192
9
172
193
202
215
309
285
Tax %
0%
0%
9%
1%
2%
6%
3%
17%
-1%
1%
0%
-1%
—
Net Profit
55
101
13
61
73
180
9
143
195
199
214
311
279
EPS in Rs
47.91
88.37
11.44
53.16
63.7
157
7.71
125
171
174
188
272
244
Div. Payout %
63%
34%
262%
62%
52%
32%
649%
64%
94%
97%
75%
81%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
11
11
11
11
11
11
11
11
11
11
11
11
Reserves
241
301
6,541
8,214
11,312
8,199
16,232
22,842
19,031
27,005
30,851
27,623
Borrowings
0
0
0
0
0
0
0
0
0
0
0
0
Other Liabilities
66
25
20
18
391
14
1,036
1,846
1,355
2,377
3,725
3,156
Total Liabilities
318
337
6,572
8,243
11,714
8,225
17,280
24,699
20,398
29,394
34,588
30,791
Fixed Assets
4
7
7
13
15
15
14
13
12
10
0
0
CWIP
0
0
0
0
0
0
0
0
0
0
0
0
Investments
271
280
6,511
8,196
11,680
8,080
17,189
24,654
20,364
29,362
34,563
30,759
Other Assets
43
50
54
34
20
130
76
33
22
22
24
32
Total Assets
318
337
6,572
8,243
11,714
8,225
17,280
24,699
20,398
29,394
34,588
30,791
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-10
-8
-33
1
1
-7
-6
119
209
206
159
267
Investing
41
81
35
40
45
195
-68
-62
-3
-12
36
-19
Financing
-33
-80
-2
-41
-45
-113
-1
-58
-205
-194
-193
-250
Net Cash Flow
-2
-6
0
0
0
75
-75
0
0
0
1
-2
Free Cash Flow
-10
-12
-34
-5
-2
-9
-6
119
207
206
224
267
CFO/OP
180
104
530
3
5
-2
-44
86
119
106
100
92
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
137
99
95
15
14
8
82
19
11
3
0
0
Inventory Days
134
42
111
57
72
—
163
—
—
—
—
—
Days Payable
27
37
40
40
8
—
99
—
—
—
—
—
Cash Conversion Cycle
243
104
166
33
78
8
146
19
11
3
0
0
Working Capital Days
-2,141
-203
-43
1
4
4
103
31
10
7
-35
13
ROCE %
20%
35%
0%
1%
1%
2%
0%
1%
1%
1%
1%
1%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

DIIs3.85%Govt.0.01%Promot.51.00%FIIs6.17%Others14.81%Public24.16%As ofJun 2026

Documents

Frequently Asked Questions about Maharashtra Scooters

What does Maharashtra Scooters Ltd do?
Maharashtra Scooters Ltd. (MSL) is a manufacturing & and an unregistered core investment company. It is engaged in the business of manufacturing dies, Jigs, fixtures and die casting components primarily for the automobiles industry, etc. [1]
Where is Maharashtra Scooters Ltd (MAHSCOOTER) listed?
Maharashtra Scooters Ltd trades as MAHSCOOTER on the NSE and under code 500266 on the BSE.
Which sector does Maharashtra Scooters Ltd belong to?
Maharashtra Scooters Ltd is classified under the Financial Services sector, in the Investment Company industry.
What is the market capitalisation of Maharashtra Scooters Ltd?
Maharashtra Scooters Ltd has a market capitalisation of ₹14,169 Cr, which places it in the Mid Cap band.
What is the PE ratio of Maharashtra Scooters Ltd?
Maharashtra Scooters Ltd trades at a PE ratio of 50.80, against a book value of ₹24,180.45 per share.
What is the 52-week high and low of Maharashtra Scooters Ltd?
Over the last 52 weeks Maharashtra Scooters Ltd has traded between ₹10,901 and ₹17,799.
Does Maharashtra Scooters Ltd pay dividends?
Maharashtra Scooters Ltd has a dividend yield of 1.27%.
What is the Return on Equity (ROE) of Maharashtra Scooters Ltd?
Maharashtra Scooters Ltd reported a return on equity of 1.12%. Its debt-to-equity ratio is 0.00.

Company Information

Maharashtra Scooters Ltd. (MSL) is a manufacturing & and an unregistered core investment company. It is engaged in the business of manufacturing dies, Jigs, fixtures and die casting components primarily for the automobiles industry, etc. [1]

Website mahascooters.com
CEO Mr. Anant Gopal Marathe
Employees 4
Listed 1995-02-08
Face Value ₹ 10
Issued Size 1,14,28,568

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