---
title: "Mahavir Industries Ltd (531648) — Share Price, Financials & Analysis"
symbol: "531648"
company: "Mahavir Industries Ltd"
canonical: "https://tapetide.com/stocks/531648"
isin: "INE987M01023"
bse_code: "531648"
sector: "Commodities"
industry: "Non - Ferrous Metals"
generated_at: "2026-09-13T19:06:50.678Z"
---

# Mahavir Industries Ltd (531648)

Canonical page: https://tapetide.com/stocks/531648

## Company

- **BSE Code:** 531648
- **ISIN:** INE987M01023
- **Sector:** Commodities
- **Industry:** Non - Ferrous Metals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2011-09-23
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** miltd.co.in

## About

Mahavir Industries started its operations in 1989 in the Copper industry.It is into the manufacturing of copper wires which can be used in industries and is gradually moving and expanding our business mainly in IT and IT enabled services and Infrastructure business.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 5Y |
| --- | --- | --- |
| net income growth | — | 12% |
| revenue growth | -100% | — |

## Financial Statements

### Quarterly Results

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

| Item | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Dec 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0.1 | 0 | 0.06 | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.06 | 0.07 | 0.03 | 0.02 | 0.03 | 0.08 | 0.09 | 0.01 | 0 | 0.04 | 0 | 0.05 |
| Operating Profit | -0.06 | 0.03 | -0.03 | 0.04 | 0.01 | -0.08 | -0.09 | -0.01 | 0 | -0.04 | 0 | -0.05 |
| OPM % | — | 30 | — | 66.67 | 25 | — | — | — | — | — | — | — |
| Other Income | 0 | 0.04 | 0 | 0 | 0 | 0.06 | 0.15 | 0.01 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.06 | 0.07 | -0.03 | 0.04 | 0.01 | -0.02 | 0.06 | 0 | 0 | -0.04 | 0 | -0.05 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 33.33 | — | — | 0 | — | 0 |
| Net Profit | -0.06 | 0.07 | -0.03 | 0.04 | 0.01 | -0.02 | 0.05 | 0 | 0 | -0.04 | 0 | -0.05 |
| EPS in Rs | -0.03 | 0.04 | -0.02 | 0.02 | 0 | -0.01 | 0.02 | 0 | 0 | -0.02 | 0 | -0.02 |

### Profit & Loss

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4.52 | 0.09 | 0 | 0 | 0 | 0.08 | 0.1 | 0.09 | 0.15 | 0 |
| Expenses | 4.6 | 0.2 | 0.11 | 0.13 | 0.15 | 0.14 | 0.13 | 0.15 | 0.14 | 0.11 |
| Operating Profit | -0.08 | -0.11 | -0.11 | -0.13 | -0.15 | -0.06 | -0.03 | -0.06 | 0.01 | -0.11 |
| OPM % | -1.77 | -122.22 | — | — | — | -75 | -30 | -66.67 | 6.67 | — |
| Other Income | 0.03 | 0.11 | 0.09 | 0.05 | -2.1 | -1.18 | 0.04 | 0.06 | 0.01 | 0 |
| Interest | 0 | 0 | 0 | 0.02 | 0.1 | -0.11 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0.05 | 0 | -0.02 | -0.1 | -2.35 | -1.13 | 0.01 | 0 | 0.02 | -0.11 |
| Tax % | 0 | — | 0 | 0 | 0 | 0 | 100 | — | 100 | 0 |
| Net Profit | -0.05 | 0 | -0.02 | -0.1 | -2.35 | -1.13 | 0 | 0 | 0.01 | -0.11 |
| EPS in Rs | -0.04 | 0 | -0.02 | -0.05 | -1.18 | -0.56 | 0 | 0 | 0 | -0.06 |
| Dividend Payout % | 0 | — | 0 | 0 | 0 | 0 | — | — | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | -6.4 | -6.4 | -6.42 | -6.52 | -8.87 | -9.99 | -10 | -10 | -9.98 | -10.09 |
| Borrowings | 0 | 0 | 0 | 1.73 | 1.73 | 1 | 0.95 | 0.15 | 0 | 0 |
| Other Liabilities | 0.14 | 0 | 0.01 | 0.02 | 0.13 | 0.01 | 0.02 | 0.01 | 0.05 | 0.09 |
| Total Liabilities | 3.74 | 3.6 | 3.59 | 5.23 | 2.99 | 1.02 | 0.97 | 0.16 | 0.07 | 0 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.11 | 2.48 | 2.48 | 5.19 | 2.23 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 3.63 | 1.12 | 1.11 | 0.04 | 0.76 | 1.02 | 0.97 | 0.16 | 0.07 | 0 |
| Total Assets | 3.74 | 3.6 | 3.59 | 5.23 | 2.99 | 1.02 | 0.97 | 0.16 | 0.07 | 0 |

### Cash Flow

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

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.76 | 0.59 | 0 | -0.14 | -2.47 | -0.13 | -0.05 | 0.03 | 0 | — |
| Cash from Investing Activity | -1.89 | -1.6 | -0.05 | -1.57 | 2.43 | 0.86 | 0.1 | 0.78 | 0 | — |
| Cash from Financing Activity | 3.69 | 0 | 0 | 1.73 | 0 | -0.73 | -0.05 | -0.8 | 0 | — |
| Net Cash Flow | 1.04 | -1.01 | -0.04 | 0.02 | -0.03 | 0 | 0 | 0.01 | 0 | — |
| Free Cash Flow | -0.76 | 0.59 | 0 | -0.14 | -2.47 | -0.13 | -0.05 | 0.03 | 0 | — |
| CFO/OP | 950 | -536 | 0 | 108 | 1647 | 217 | 167 | -50 | 0 | — |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 0 | 0 | — | — | — | 273.75 | 511 | 365 | 0 | — |
| Inventory Days | 0 | 0 | — | — | — | — | — | — | — | — |
| Cash Conversion Cycle | 0 | 0 | — | — | — | 273.75 | 511 | 365 | 0 | — |
| Working Capital Days | -11.31 | 4298.89 | — | — | — | -45.62 | -36.5 | 0 | 24.33 | — |
| ROCE % | -2.81 | -0.83 | -0.56 | -2.73 | -8.67 | -1.03 | 1.02 | 0 | 23.53 | — |

## Shareholding Pattern

### annual

| Category | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Sep 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 2.46% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| Public | 97.54% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% |
| No. of Shareholders | 527 | 561 | 722 | 766 | 780 | 1018 | 1744 |

### Quarterly

| Category | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% | 1.55% |
| Public | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% | 98.45% |
| No. of Shareholders | 764 | 766 | 766 | 780 | 780 | 780 | 780 | 780 | 903 | 1018 | 1495 | 1744 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 5 / 2 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1.08 | Sell |
| EMA (10) | 1.03 | Sell |
| SMA (20) | 1.03 | Sell |
| EMA (20) | 1.06 | Sell |
| SMA (50) | 1.15 | Sell |
| EMA (50) | 1.23 | Sell |
| SMA (100) | 1.68 | Sell |
| EMA (100) | 1.51 | Sell |
| SMA (200) | 1.94 | Sell |
| EMA (200) | 1.64 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 33.78 | Neutral |
| MACD (12,26,9) | -0.04 | Sell |
| Stochastic (14,3,3) | 13.96 | Buy |
| ADX (14) | 25.74 | Buy |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 0.08 | High Volatility |
| ROC (12) | -13.33 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 22.32 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 4 Mar 2024 - Resignation of Mr. Bhavik Anil Harsora, Non-Executive Director. | [Announcement under Regulation 30 (LODR)-Resignation of Director 4 Mar 2024 - Resignation of Mr. Bhavik Anil Harsora, Non-Executive Director.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/46691f1e-ea06-4cb0-81a7-66aa5c367851.pdf) |
| 4 Mar 2024 - Resignation of CFO Mr. Tejas Kushte effective immediately. | [Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO) 4 Mar 2024 - Resignation of CFO Mr. Tejas Kushte effective immediately.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e59b392c-9a60-4370-b3fc-be422339c6e5.pdf) |
| 4 Mar 2024 - Change in registered office of Mahavir Industries Limited. | [Announcement under Regulation 30 (LODR)-Change in Registered Office Address 4 Mar 2024 - Change in registered office of Mahavir Industries Limited.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b5a6f5fa-cef8-446b-bdf5-c3652e45086c.pdf) |
| 24 Jul 2023 - Resignation of two Non-Executive Independent Directors. | [Announcement under Regulation 30 (LODR)-Change in Management 24 Jul 2023 - Resignation of two Non-Executive Independent Directors.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f53c5905-5834-46f4-846c-b2f2b63b6cc8.pdf) |
| 24 Jul 2023 - Resignation of two independent directors and establishment of corporate office. | [Board Meeting Outcome for Outcome Of Board Meeting As Per Regulation 30 Of SEBI (LODR) Regulations, 2015 24 Jul 2023 - Resignation of two independent directors and establishment of corporate office.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/076f1b13-4e5a-4728-998b-2d5ddb2f37c6.pdf) |
| 16 October 2024 - Members of the Exchange are hereby informed about the delisting of equity shares of JIK Industries Limited w.e.f. October 17, 2024 in terms of Rule … | [Delisting 16 October 2024 - Members of the Exchange are hereby informed about the delisting of equity shares of JIK Industries Limited w.e.f. October 17, 2024 in terms of Rule …](https://www.nseindia.com/get-quotes/equity?symbol=JIKIND) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2024-03-04 | [Announcement under Regulation 30 (LODR)-Change in Registered Office Address](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b5a6f5fa-cef8-446b-bdf5-c3652e45086c.pdf) |
| 2024-03-04 | [Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e59b392c-9a60-4370-b3fc-be422339c6e5.pdf) |
| 2024-03-04 | [Announcement under Regulation 30 (LODR)-Resignation of Director](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=46691f1e-ea06-4cb0-81a7-66aa5c367851.pdf) |
| 2023-07-24 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f53c5905-5834-46f4-846c-b2f2b63b6cc8.pdf) |
| 2023-07-24 | [Board Meeting Outcome for Outcome Of Board Meeting As Per Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=076f1b13-4e5a-4728-998b-2d5ddb2f37c6.pdf) |
| 2023-07-11 | [Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=33d80b5e-96bd-4c81-8dae-61c83888b2d5.pdf) |
| 2023-07-11 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=828a7e7e-1829-4155-8850-b6abe8403185.pdf) |
| 2023-05-30 | [Board Meeting Outcome for Outcome Of The Meeting Of Board Of Directors Held On 30/05/2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0761074b-f6b5-4523-a4df-9a11ff62fe7f.pdf) |
| 2023-05-30 | [Quaterly And Yearly Results For Period Ended 31/03/2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=87fa47a0-e4ef-47cc-b75d-cad3ae064518.pdf) |
| 2023-05-23 | [Board Meeting Intimation for Board Meeting On 30/05/2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=90593760-c5df-452f-94ee-d2aee3a9024c.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/511618/72709511618.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/531648/71844531648.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/511618/67596511618.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/531648/68282531648.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/511618/5116180319.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/531648/5316480319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/511618/5116180318.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/531648/5316480318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/511618/5116180317.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/531648/5316480317.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 2026-09-13T19:06:50.678Z.