Maharashtra Scooters Ltd logo

Maharashtra Scooters Ltd

MAHSCOOTER NSE

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]

AI Verdict: HOLD Confidence: 4%

Maharashtra Scooters trades at an attractive 0.52x book value with a healthy 1.75% dividend yield and is virtually debt-free, but its extremely low ROE of ~1% over 3-5 years and elevated PE of 46.3x signal poor capital efficiency despite strong recent profit growth of 77% TTM. The stock is essentially a holding company proxy for Bajaj group investments, making it a passive value play rather than an active compounder.

Key Fundamentals

SmallcapInvestment CompanyFinancial Services
Market Cap
₹14,360 Cr
Volatility
Moderate
P/E Ratio
46.02
EBITDA
₹309 Cr
Debt to Equity
0
Book Value
₹24,180.45
52W High
₹18,538
52W Low
₹10,901

Technical Indicators

Key Insights

Strengths

4
  • Company is almost debt free.
  • Stock is trading at 0.52 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 0.84% over last 3 years.

Growth Rate

Revenue Growth
68.88% ↗
Net Income Growth
45.21% ↗
Cash Flow Change
-22.94% ↘
ROE
-6.76% ↘
ROCE
-10.14% ↘
EBITDA Margin (Avg.)
5.06% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk medium

Maharashtra Scooters trades at an attractive 0.52x book value with a healthy 1.75% dividend yield and is virtually debt-free, but its extremely low ROE of ~1% over 3-5 years and elevated PE of 46.3x signal poor capital efficiency despite strong recent profit growth of 77% TTM. The stock is essentially a holding company proxy for Bajaj group investments, making it a passive value play rather than an active compounder.

Bull Case 8
  • Stock trades at just 0.52x book value, offering significant discount to underlying asset value
  • Company is virtually debt-free, eliminating balance sheet risk entirely
  • Healthy dividend payout ratio of 84.4% ensures shareholders receive consistent income
  • Dividend yield of 1.75% is attractive relative to many peers in the financial services space
  • Compounded profit growth of 77% TTM shows strong recent earnings momentum
  • 10-year stock CAGR of 25% demonstrates long-term wealth creation track record
  • Compounded sales growth of 70% TTM indicates a sharp revenue uptick in the trailing period
  • Company is expected to deliver a good upcoming quarter per consensus expectations
Bear Case 8
  • Return on equity of just 1% over 3 and 5 years reflects extremely poor capital efficiency
  • PE ratio of 46.3x is expensive for a company generating only 1% ROE, implying massive overvaluation on earnings basis
  • Stock has declined 9% over the past 1 year, underperforming broader markets significantly
  • Zero analyst coverage with 0 buy, 0 hold, and 0 sell ratings suggests institutional disinterest and low liquidity risk
  • Low tax rate flagged as a concern may indicate unsustainable earnings quality or one-time adjustments
  • 3-year compounded profit growth of only 17% is modest given the elevated PE multiple of 46.3x
  • As primarily an investment holding company, intrinsic business operations generate minimal operating income
  • 52-week high and low data unavailable (0) makes technical risk assessment impossible

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 2
  • 51st AGM set for July 29 Jun 23

    Maharashtra Scooters scheduled its 51st AGM on July 29, 2026 via video conferencing. The company has mandated electronic dividend payments, discontinuing physical warrants.

  • TDS and dividend communication Jun 10

    On June 9, 2026, the company informed shareholders about TDS applicability on final dividend and bank account update requirements. Advised on tax exemption claims and electronic payment mandates.

TL;DR: No material business developments in recent weeks — only routine corporate governance communications around the upcoming AGM and dividend processing. Maharashtra Scooters, primarily an investment holding company, shows no new headwinds or catalysts. The trend is neutral with the next potential trigger being the July 29 AGM outcomes.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
9.24
5.26
206
6.37
5.18
7.72
163
5.79
6.65
29.27
271
6.44
6.03
Expenses
7.49
4.05
5.61
5.16
4.49
5.74
2.22
1.7
1.9
1.08
1.22
0.88
1.05
Operating Profit
1.75
1.21
200
1.21
0.69
1.98
161
4.09
4.75
28.19
270
5.56
4.98
OPM %
18.94%
23%
97.28%
19%
13.32%
25.65%
98.64%
70.64%
71.43%
96.31%
99.55%
86.34%
82.59%
Other Income
0.06
0
0.11
0.7
0
-13.23
0.22
0.7
57.78
0
0
0
0.48
Interest
0
0
0
0
0
0
0
0
0
0
0
0
0
Depreciation
0.53
0.52
0.52
0.51
0.52
0.52
0.48
0.48
0.48
0.01
0
0.01
0
PBT
1.28
0.69
200
1.4
0.17
-11.77
161
4.31
62.05
28.18
270
5.55
5.46
Tax %
35.94%
30.43%
1.09%
28.57%
41.18%
-170.18%
5.93%
23.43%
16.79%
-25.48%
1.01%
25.77%
26.56%
Net Profit
0.82
0.48
198
1
0.1
8.26
151
3.3
51.63
35.36
267
4.12
4.01
EPS in Rs
0.72
0.42
173
0.87
0.09
7.23
132
2.89
45.18
30.94
234
3.6
3.51
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
7
9
8
82
95
211
30
194
217
223
184
313
Expenses
12
15
14
20
20
20
20
20
23
19
12
4
Operating Profit
-5
-6
-6
61
75
191
11
174
194
203
172
309
OPM %
-72%
-72%
-69%
75%
79%
90%
35%
90%
90%
91%
94%
99%
Other Income
63
108
21
1
1
3
0
0
1
1
45
0
Interest
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
PBT
55
101
14
61
74
192
9
172
193
202
215
309
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
EPS in Rs
47.91
88.37
11.44
53.16
63.7
157
7.71
125
171
174
188
272
Div. Payout %
63%
34%
262%
62%
52%
32%
649%
64%
94%
97%
75%
81%
Figures in ₹ Crores

Balance Sheet

  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

  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

  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%

Shareholding Pattern

As of Mar 2026
Promoters 51.00%
Public 23.95%
Others 15.01%
FIIs 6.34%
DIIs 3.69%
Government 0.01%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
51.00%
51.00%
51.00%
51.00%
51.00%
51.05%
51.05%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
51.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4.16%
0.00%
4.43%
4.55%
4.73%
4.89%
4.91%
5.12%
6.21%
6.25%
6.34%
DIIs
3.06%
3.06%
3.03%
3.03%
3.64%
4.44%
4.54%
4.53%
4.78%
4.90%
5.15%
5.08%
5.09%
5.37%
5.34%
5.27%
4.52%
4.27%
3.85%
3.88%
3.69%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
Public
29.48%
29.59%
29.48%
29.55%
29.47%
28.95%
27.10%
26.97%
26.78%
26.35%
26.06%
25.91%
25.84%
25.46%
25.08%
24.88%
25.32%
24.63%
24.11%
24.03%
23.95%
Others
16.46%
16.35%
16.49%
16.42%
15.90%
15.56%
17.31%
17.50%
17.42%
17.75%
13.62%
18.00%
13.64%
13.61%
13.85%
13.95%
14.24%
14.97%
14.81%
14.83%
15.01%
No. of Shareholders
0
18,291
18,834
19,489
20,401
22,914
22,616
21,701
20,681
19,662
20,573
20,073
20,715
21,195
21,964
25,851
24,878
25,089
25,172
24,919
23,919

Documents

Frequently Asked Questions about Maharashtra Scooters Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: MAHSCOOTER and BSE: 500266. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Maharashtra Scooters Ltd belong to?
Maharashtra Scooters Ltd operates in the Financial Services sector within the Finance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Maharashtra Scooters Ltd?
Maharashtra Scooters Ltd has a market capitalisation of approximately ₹14360.00 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Maharashtra Scooters Ltd?
The Price-to-Earnings (PE) ratio of Maharashtra Scooters Ltd is 46.02. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Maharashtra Scooters Ltd?
Over the past 52 weeks, Maharashtra Scooters Ltd has traded between a low of ₹10,901 and a high of ₹18,538. This range helps investors understand the stock's price volatility and recent trading levels.
Does Maharashtra Scooters Ltd pay dividends?
Yes, Maharashtra Scooters Ltd has a dividend yield of 1.76%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
How can I research Maharashtra Scooters Ltd on Tapetide?
On Tapetide, you can view Maharashtra Scooters Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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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