---
title: "Max Alert Systems Ltd (534563) — Share Price, Financials & Analysis"
symbol: "534563"
company: "Max Alert Systems Ltd"
canonical: "https://tapetide.com/stocks/534563"
isin: "INE253N01010"
bse_code: "534563"
sector: "Commodities"
industry: "Other Construction Materials"
generated_at: "2026-09-13T18:51:21.083Z"
---

# Max Alert Systems Ltd (534563)

Canonical page: https://tapetide.com/stocks/534563

## Company

- **BSE Code:** 534563
- **ISIN:** INE253N01010
- **Sector:** Commodities
- **Industry:** Other Construction Materials
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2012-07-13
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** maxalert.in

## About

Incorporated in 2004, Max Alert Systems Ltd. is in the field of designing & implementing industrial as well as domestic fire fighting systems and is a Turnkey Service Provider in the field of telecom infrastructure.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.37 times its book value
- Company has delivered good profit growth of 43.2% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Earnings include an other income of Rs.3.43 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 70% | 149% | 43% |
| revenue growth | 60% | — | 33% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1.89 | 3.82 | 2.8 | 2.8 | 0 | 0 | 0 | 0 | 0 | 10.3 | 13.27 | 10.02 |
| Expenses | 1.68 | 5.13 | 6.08 | 6.08 | 0.07 | 0.23 | 0.05 | 0.2 | 0.25 | 9.51 | 12.12 | 8.75 |
| Operating Profit | 0.21 | -1.31 | -3.28 | -3.28 | -0.07 | -0.23 | -0.05 | -0.2 | -0.25 | 0.79 | 1.15 | 1.27 |
| OPM % | 11.11 | -34.29 | -117.14 | -117.14 | — | — | — | — | — | 7.67 | 8.67 | 12.67 |
| Other Income | 0.01 | 0.01 | 0.12 | 0.12 | 0 | 0 | 0 | -0.51 | -0.5 | 2.26 | 3.08 | 0.35 |
| Interest | 0.03 | -0.03 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.15 | 0.15 | 0.13 | 0.13 | 0.05 | 0.05 | 0.04 | 0.04 | 0.09 | 0.04 | 0.03 | 0.24 |
| Profit before tax | 0.04 | -1.42 | -3.29 | -3.29 | -0.12 | -0.28 | -0.09 | -0.75 | -0.84 | 3.01 | 4.2 | 1.38 |
| Tax % | 25 | 1.41 | 0 | 0 | 0 | 0 | 0 | -2.67 | 2.38 | 1 | 0 | 4.35 |
| Net Profit | 0.03 | -1.44 | -3.28 | -3.28 | -0.12 | -0.29 | -0.09 | -0.74 | -0.86 | 2.98 | 4.2 | 1.32 |
| EPS in Rs | 0.03 | -1.57 | -3.57 | -3.57 | -0.13 | -0.32 | -0.1 | -0.8 | -0.93 | 3.24 | 4.57 | 1.43 |

### Profit & Loss

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 13.49 | 13.71 | 18.86 | 11.83 | 5.7 | 4.72 | 0 | 0 | 14.59 | 23.29 |
| Expenses | 12.61 | 14.62 | 18.37 | 11.32 | 6.78 | 23.04 | 0.3 | 0.25 | 13.51 | 20.88 |
| Operating Profit | 0.88 | -0.91 | 0.49 | 0.51 | -1.08 | -18.32 | -0.3 | -0.25 | 1.08 | 2.41 |
| OPM % | 6.52 | -6.64 | 2.6 | 4.31 | -18.95 | -388.14 | — | — | 7.4 | 10.35 |
| Other Income | 0.11 | 1.59 | 0.02 | -0.1 | 0.01 | -0.45 | 0 | -0.5 | 2.27 | 3.43 |
| Interest | 0.02 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.74 | 0.58 | 0.46 | 0.37 | 0.31 | 0.19 | 0.11 | 0.09 | 0.07 | 0.27 |
| Profit before tax | 0.23 | 0.09 | 0.05 | 0.04 | -1.38 | -18.96 | -0.41 | -0.84 | 3.28 | 5.57 |
| Tax % | 26.09 | 33.33 | 20 | 50 | -0.72 | 0 | 0 | -2.38 | 0.91 | 1.08 |
| Net Profit | 0.16 | 0.07 | 0.03 | 0.02 | -1.37 | -18.96 | -0.41 | -0.82 | 3.25 | 5.52 |
| EPS in Rs | 0.17 | 0.08 | 0.03 | 0.02 | -1.49 | -20.61 | -0.45 | -0.89 | 3.53 | 6 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 9.2 | 9.2 | 9.2 | 9.2 | 9.2 | 9.2 | 9.2 | 0.92 | 0.92 | 0.92 |
| Reserves | 5.27 | 5.34 | 5.37 | 5.39 | 4.02 | -14.94 | -15.35 | 0.25 | 4.56 | 10.08 |
| Borrowings | 7.89 | 3.46 | 2.05 | 2.05 | 2.05 | 1.88 | 1.88 | 0 | 0 | 0 |
| Other Liabilities | 3.65 | 4.34 | 12.38 | 14.5 | 7.54 | 6.15 | 5.76 | 0.08 | 1.01 | 1.12 |
| Total Liabilities | 26.01 | 22.34 | 29 | 31.14 | 22.81 | 2.29 | 1.49 | 1.25 | 6.49 | 12.12 |
| Fixed Assets | 4 | 2.52 | 2.06 | 1.69 | 1.38 | 0.6 | 0.49 | 0.4 | 0.33 | 2.44 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.55 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 21.46 | 19.81 | 26.93 | 29.44 | 21.42 | 1.69 | 1 | 0.85 | 6.16 | 9.68 |
| Total Assets | 26.01 | 22.34 | 29 | 31.14 | 22.81 | 2.29 | 1.49 | 1.25 | 6.49 | 12.12 |

### Cash Flow

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

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.86 | 3.23 | 1.04 | 0.03 | -0.02 | 0.19 | -0.68 | -6.38 | -2.1 | -2.38 |
| Cash from Investing Activity | -0.56 | 0.94 | 0.02 | 0.02 | 0.01 | 0.75 | 0 | 6.51 | 2.27 | 1.06 |
| Cash from Financing Activity | -0.6 | -3.76 | -1.41 | -0.01 | 0 | -0.17 | 0 | -0.24 | 1.06 | 0 |
| Net Cash Flow | -2.02 | 0.4 | -0.35 | 0.04 | 0 | 0.78 | -0.68 | -0.11 | 1.22 | -1.31 |
| Free Cash Flow | -0.88 | 4.15 | 1.04 | 0.03 | -0.02 | 0.19 | -0.68 | -6.38 | -2.1 | -4.75 |
| CFO/OP | -90 | -358 | 214 | 8 | 2 | -1 | 227 | 2552 | -194 | -99 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 212.4 | 147.49 | 299.97 | 691.12 | 783.15 | 1.55 | — | — | 96.82 | 92.46 |
| Inventory Days | 55.54 | 53.25 | 34.02 | 92.02 | 186.61 | 0 | — | — | 0 | 0 |
| Days Payable | 139.85 | 79.26 | 251.68 | 532.03 | 517.27 | — | — | — | — | — |
| Cash Conversion Cycle | 128.09 | 121.48 | 82.31 | 251.11 | 452.48 | 1.55 | — | — | 96.82 | 92.46 |
| Working Capital Days | 464.3 | 387.36 | 270.75 | 442.13 | 849.75 | -452.38 | — | — | 83.31 | 127.41 |
| ROCE % | 1.11 | -7.28 | 0.29 | 0.96 | -8.65 | -321.65 | — | — | 98.65 | 67.6 |

## Shareholding Pattern

### annual

| Category | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.27% | 58.27% | 58.27% | 58.27% | 58.29% | 58.29% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% |
| DIIs | 13.44% | 13.41% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.18% | 0.18% | 0.18% |
| Public | 28.3% | 28.32% | 41.73% | 41.73% | 41.71% | 41.71% | 42.06% | 42.06% | 42.05% | 41.87% | 41.88% | 41.88% |
| No. of Shareholders | 136 | 176 | 171 | 170 | 168 | 181 | 417 | 421 | 432 | 438 | 437 | 437 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% | 57.94% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% |
| Public | 42.06% | 42.06% | 42.06% | 42.05% | 42.06% | 41.88% | 41.87% | 41.87% | 41.87% | 41.87% | 41.88% | 41.88% |
| No. of Shareholders | 421 | 430 | 422 | 432 | 438 | 438 | 438 | 438 | 438 | 438 | 437 | 437 |

## Technical Indicators

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

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

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 4.09 | Buy |
| EMA (10) | 4.18 | Buy |
| SMA (20) | 4.16 | Buy |
| EMA (20) | 4.03 | Buy |
| SMA (50) | 3.5 | Buy |
| EMA (50) | 3.59 | Buy |
| SMA (100) | 2.93 | Buy |
| EMA (100) | 3.23 | Buy |
| SMA (200) | 2.82 | Buy |
| EMA (200) | 3.19 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 61.18 | Neutral |
| MACD (12,26,9) | 0.22 | Sell |
| Stochastic (14,3,3) | 59.22 | Neutral |
| ADX (14) | 27.37 | Buy |
| Williams %R (14) | -18.66 | Sell |
| ATR (14) | 0.23 | High Volatility |
| ROC (12) | 8.54 | Buy |
| Stoch RSI (14) | 71.52 | Neutral |
| UO (7,14,28) | 60.75 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Feb - Board reviewed financial performance for quarter ended Dec 31, 2025; meeting on Feb 09, 2026. | [Board Meeting Outcome for Outcome Of The Board Meeting Held On Monday, February 09, 2026 9 Feb - Board reviewed financial performance for quarter ended Dec 31, 2025; meeting on Feb 09, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a1035228-fdbb-469b-8853-9b4e36311493.pdf) |
| 7 Apr - Promoter Anil Chandran disclosed no encumbrance on shares held during FY 2025-26. | [Disclosure Under Regulation 31(4) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011. 7 Apr - Promoter Anil Chandran disclosed no encumbrance on shares held during FY 2025-26.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/179023b9-2f63-44c7-8369-192dfef0bdc3.pdf) |
| 5 May - Company filed FY2025-26 initial disclosure, confirming it is not a large corporate. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 5 May - Company filed FY2025-26 initial disclosure, confirming it is not a large corporate.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/b107e0e2-4d8b-4712-a617-8ec1c9362d4e.pdf) |
| 29 Jan - Revised unaudited half-year results for 30 Sept 2025: revenue Rs1,635.46L, profit Rs419.53L; correction due to discrepancies. | [Board Meeting Outcome for Revised Unaudited Financial Result Due To Discrepancies In Financial Results. 29 Jan - Revised unaudited half-year results for 30 Sept 2025: revenue Rs1,635.46L, profit Rs419.53L; correction due to discrepancies.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dd63be24-f204-4fc3-9b82-5023048d1b94.pdf) |
| 2 Feb - Board meeting on Feb 9, 2026 to review financial results; trading window closed Jan 1. | [Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Monday, February 09, 2026 Disclosure Under Regulation 29 Of SEBI (LODR) Regulations 2015. 2 Feb - Board meeting on Feb 9, 2026 to review financial results; trading window closed Jan 1.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7f86582b-e926-490a-899a-baf2790a11f0.pdf) |
| 18 Feb - Company Secretary/Compliance Officer Gokul Bhojwani resigned effective Feb 18, 2026; replacement pending. | [Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 18 Feb - Company Secretary/Compliance Officer Gokul Bhojwani resigned effective Feb 18, 2026; replacement pending.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2260dc24-8d81-4615-beee-0040fde23e1c.pdf) |
| 14 Jan - SEBI Reg 74(5) certificate from Skyline Financial for quarter ended Dec 31, 2025 (dated Jan 03, 2026). | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 14 Jan - SEBI Reg 74(5) certificate from Skyline Financial for quarter ended Dec 31, 2025 (dated Jan 03, 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9f0e9f70-a1d6-40fe-8b5b-aee2df0fe54a.pdf) |
| 14 Jan - Confirmation certificate dated January 03, 2026 received from Skyline Financial Services Private Limited, Registrar and Share Transfer Agent (RTA) as per the subject Regulation, for … | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 14 Jan - Confirmation certificate dated January 03, 2026 received from Skyline Financial Services Private Limited, Registrar and Share Transfer Agent (RTA) as per the subject Regulation, for …](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ff7950ca-3895-4e46-a16a-6591bdff748d.pdf) |
| 11 Sep - 23rd AGM resolutions passed on September 10, 2026; FY26 audited financials adopted and Amit Vengilat reappointed. | [Disclosure Of Voting Results Of 23Rd Annual General Meeting Pursuant To Regulation 44 Of The SEBI (LODR) Regulations, 2015 Along With CONSOLIDATED REPORT OF SCRUTINIZER ON REMOTE E-VOTING AND ELECTRONIC VOTING AT THE ANNUAL GENERAL MEETING (AGM) 11 Sep - 23rd AGM resolutions passed on September 10, 2026; FY26 audited financials adopted and Amit Vengilat reappointed.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=80a22275-a2ef-4ffe-98e8-806a4a2b7f05.pdf) |
| 10 Apr - Company says Regulation 24A does not apply; annual secretarial compliance report not required. | [Compliances-Reg.24(A)-Annual Secretarial Compliance 10 Apr - Company says Regulation 24A does not apply; annual secretarial compliance report not required.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/073cc95b-54d9-4362-912f-deb7288fbe4d.pdf) |

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-10 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2a3095a1-9244-4c5c-97f9-3effac89d38d.pdf) |
| 2026-09-10 | [Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (Listing Regulations) Proceedings Of The 23Rd Annual General Meeting Of The Company.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=10403fb9-7c17-4973-93f7-0c3e49d09f48.pdf) |
| 2026-09-02 | [Appointment of Company Secretary and Compliance Officer](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f64ca63e-3f2c-4c3c-b23d-47fd70dc811d.pdf) |
| 2026-08-18 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=77f8f860-7cf9-4e63-93a0-1fe6edb49898.pdf) |
| 2026-08-17 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=93f2c603-18a4-4284-8eb0-c44d9bbd62e2.pdf) |
| 2026-08-17 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4ea49fdd-54ba-44fd-a2c3-731de811458b.pdf) |
| 2026-08-17 | [Notice Of The 23Rd Annual General Meeting (AGM) Of The Company For FY 2025-26.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=315f4ddf-4cb3-427c-a94e-832c619c29ed.pdf) |
| 2026-08-17 | [Book Closure For Annual Report Of The Company For Financial Year 2025-26.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=329b4e51-c812-448c-a763-3adcbdf55788.pdf) |
| 2026-08-05 | [Board Meeting Outcome for Outcome Of The Board Meeting Held On Wednesday August 05 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f3711885-bbb1-4061-b771-8a2a2a81a754.pdf) |
| 2026-08-05 | [Outcome Of The Board Meeting Held On Wednesday August 05 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0674726e-f15f-4a26-93cd-2e118bc4392b.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/be1d75bc-c380-4c48-abda-4c00f13c06bc.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/76531534563.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/71578534563.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/66902534563.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/5345630319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/5345630318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/5345630317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/5345630316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/534563/5345630315.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2012/MAX_ALERT_SYSTEMS_LTD-534563-MARCH-2012.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 2026-09-13T18:51:21.083Z.