---
title: "Shri Mahalaxmi Agricultural Developments Ltd (539010) — Share Price, Financials & Analysis"
symbol: "539010"
company: "Shri Mahalaxmi Agricultural Developments Ltd"
canonical: "https://tapetide.com/stocks/539010"
isin: "INE317G01025"
bse_code: "539010"
sector: "Fast Moving Consumer Goods"
industry: "Agricultural Food & other Products"
generated_at: "2026-09-13T18:47:05.951Z"
---

# Shri Mahalaxmi Agricultural Developments Ltd (539010)

Canonical page: https://tapetide.com/stocks/539010

## Company

- **BSE Code:** 539010
- **ISIN:** INE317G01025
- **Sector:** Fast Moving Consumer Goods
- **Industry:** Agricultural Food & other Products
- **Macro Sector:** Fast Moving Consumer Goods
- **Stock Type:** EQUITY
- **Listed Since:** 2015-04-22
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** smadlindia.com

## About

Shri Mahalaxmi Agricultural Development Limited engages in the trading and retail of textiles in India.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.57 times its book value

### Weaknesses

- Company has a low return on equity of -0.03% over last 3 years.
- Company might be capitalizing the interest cost

## Financial Statements

### Quarterly Results

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

| Item | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 1.4 | 0 | 0 | 0 | 1.27 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0 | 0.01 | 1.87 | 0.04 | 0.04 | 0.03 | 1.44 | 0.03 | 0.03 | 0.03 | 0.14 | 0.03 |
| Operating Profit | 0 | -0.01 | -0.47 | -0.04 | -0.04 | -0.03 | -0.17 | -0.03 | -0.03 | -0.03 | -0.14 | -0.03 |
| OPM % | — | — | -33.57 | — | — | — | -13.39 | — | — | — | — | — |
| Other Income | 0.03 | 0 | 0.53 | 0.11 | 0.12 | 0.1 | 0.2 | 0.08 | 0.08 | 0.08 | 0.99 | 0.04 |
| 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 | 0.03 | -0.01 | 0.06 | 0.07 | 0.08 | 0.07 | 0.03 | 0.05 | 0.05 | 0.05 | 0.85 | 0.01 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | 0.03 | -0.01 | 0.06 | 0.07 | 0.08 | 0.07 | 0.03 | 0.05 | 0.05 | 0.05 | 0.85 | 0.01 |
| EPS in Rs | 0.01 | 0 | 0.03 | 0.03 | 0.04 | 0.03 | 0.01 | 0.02 | 0.02 | 0.02 | 0.42 | 0 |

### Profit & Loss

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

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.1 | 0.86 | 5.54 | 3.35 | 1.58 | 1.4 | 0.76 | 0 | 0 | 0 |
| Expenses | 0.4 | 0.59 | 5.43 | 3.75 | 1.95 | 1.77 | 1.2 | 0.01 | 0 | 0 |
| Operating Profit | -0.3 | 0.27 | 0.11 | -0.4 | -0.37 | -0.37 | -0.44 | -0.01 | 0 | 0 |
| OPM % | -300 | 31.4 | 1.99 | -11.94 | -23.42 | -26.43 | -57.89 | — | — | — |
| Other Income | 0.52 | 0.12 | 0.22 | 0.54 | 0.42 | 0.46 | 0.53 | 0.65 | 0.09 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0.05 | 0.05 | 0 | 0 | 0 |
| Depreciation | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0.21 | 0.38 | 0.33 | 0.14 | 0.05 | 0.04 | 0.04 | 0.64 | 0.09 | 0 |
| Tax % | 14.29 | 5.26 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | 0.17 | 0.36 | 0.33 | 0.14 | 0.05 | 0.04 | 0.04 | 0.64 | 0.09 | 0 |
| EPS in Rs | 0.17 | 0.18 | 0.16 | 0.07 | 0.02 | 0.02 | 0.02 | 0.31 | 0.04 | 0 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5.16 | 10.16 | 10.16 | 10.16 | 10.16 | 10.16 | 10.16 | 10.16 | 10.16 | 10.16 |
| Reserves | 0.01 | 0.37 | 0.64 | 0.79 | 0.87 | 0.91 | 0.95 | 2 | 2.08 | 2.08 |
| Borrowings | 0 | 0 | 1.13 | -0.72 | 0.57 | 0.28 | 0.25 | 5.56 | 5.56 | 5.56 |
| Other Liabilities | 0.71 | 1.34 | 5.12 | 3.46 | 0.26 | 2.61 | 1.89 | 0.59 | 0.58 | 0.56 |
| Total Liabilities | 5.88 | 11.87 | 17.05 | 13.69 | 11.86 | 13.96 | 13.25 | 18.31 | 18.38 | 18.36 |
| Fixed Assets | 0.06 | 0.05 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 3.5 | 8.28 | 5.58 | 1.56 | 1.01 | 2.62 | 3.85 | 0.06 | 0.13 | 0.13 |
| Other Assets | 2.32 | 3.54 | 11.47 | 12.13 | 10.85 | 11.34 | 9.4 | 18.25 | 18.25 | 18.23 |
| Total Assets | 5.88 | 11.87 | 17.05 | 13.69 | 11.86 | 13.96 | 13.25 | 18.31 | 18.38 | 18.36 |

### Cash Flow

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

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0.5 | -0.29 | -3.2 | -2.67 | -2.42 | 1.63 | 1.17 | — | -0.03 | 0 |
| Cash from Investing Activity | -0.49 | -4.78 | 2.98 | 4.56 | 1.05 | -1.61 | -1.22 | — | 0.03 | 0 |
| Cash from Financing Activity | 0 | 5 | 0.29 | -1.85 | 1.28 | 0.05 | -0.03 | — | 0 | 0 |
| Net Cash Flow | 0.01 | -0.07 | 0.07 | 0.04 | -0.09 | 0.06 | -0.09 | — | 0 | 0 |
| Free Cash Flow | 0.5 | -5.07 | -3.15 | -2.67 | -2.42 | 1.63 | 1.17 | — | -0.03 | 0 |
| CFO/OP | -167 | -107 | -2891 | 668 | 654 | -441 | -266 | — | — | — |

### Ratios

| Item | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2023 | Mar 2024 | Mar 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 2956.5 | 759.71 | 395.97 | 372.63 | 0 | 385.86 | 1042.17 | — | — | — |
| Inventory Days | — | 0 | 0 | 0 | 0 | 0 | 0 | — | — | — |
| Cash Conversion Cycle | 2956.5 | 759.71 | 395.97 | 372.63 | 0 | 385.86 | 1042.17 | — | — | — |
| Working Capital Days | 5475 | 920.99 | 411.78 | 929.39 | 2430.25 | 2169.14 | 3477.11 | — | — | — |
| ROCE % | 0 | 4.84 | 2.94 | 1.26 | 1.19 | 0.78 | 0.79 | — | 0 | 0 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- |
| Public | 100% | 100% | 100% | 100% |
| No. of Shareholders | 715 | 711 | 697 | 685 |

### Quarterly

| Category | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Public | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% |
| No. of Shareholders | 715 | 715 | 715 | 712 | 712 | 711 | 711 | 704 | 702 | 707 | 697 | 685 |

## Technical Indicators

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

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 6 / 4

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 725.31 | Sell |
| EMA (10) | 701.48 | Buy |
| SMA (20) | 616.37 | Buy |
| EMA (20) | 593.7 | Buy |
| SMA (50) | 250.31 | Buy |
| EMA (50) | 364.96 | Buy |
| SMA (100) | 143.47 | Buy |
| EMA (100) | 213.64 | Buy |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 86.08 | Sell |
| MACD (12,26,9) | 152.43 | Sell |
| Stochastic (14,3,3) | 47.7 | Neutral |
| ADX (14) | 74.93 | Buy |
| Williams %R (14) | -60.29 | Neutral |
| ATR (14) | 29.67 | High Volatility |
| ROC (12) | -1.37 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 55.21 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=01aabc72-b7f2-4311-9bc9-ee972272461f.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb59fff9-d36d-4248-b377-41fb8e44ab8b.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=09756166-dfd0-41dc-a4ee-fce372236370.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=51ce6406-3b7a-4502-9422-869b1475bcc3.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=551eaf51-fadd-4e2a-bb08-a845324a6433.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c47cee29-ee66-4832-8913-6358952eb7dd.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7a65c09c-bb87-4ce8-8d1c-697e195f4a25.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6280899a-11a7-474d-b9a5-5d340d26449f.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cdfa2376-f546-4e86-aac2-28d59d4041b7.pdf) |
| 2026-08-29 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6add6cec-98e3-4c6f-ae74-ab0354c10879.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7 Jan 2020 - Certificate Under Regulation 74(5) Of The SEBI (Depositories And Participants) Regulations, 2018 For The Quarter Ended 31st December, 2019. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Jan 2020 - Certificate Under Regulation 74(5) Of The SEBI (Depositories And Participants) Regulations, 2018 For The Quarter Ended 31st December, 2019.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/87168360-c9a2-49df-aa77-8b825b72285e.pdf) |
| 7 Feb - Unaudited standalone and consolidated Q3/9M results ended 31-Dec-2025, approved 07-Feb-2026; limited review by auditors provided. | [Board Meeting Outcome for Financial Results For The Quarter And Nine Months Ended 31.12.2025 7 Feb - Unaudited standalone and consolidated Q3/9M results ended 31-Dec-2025, approved 07-Feb-2026; limited review by auditors provided.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7224cc17-e11f-4a9c-8139-f919b7239712.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9d5082d7-0734-48fc-84fc-254956abd976.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/db3dd709-1b02-4dea-a605-e71b5cec5fc0.pdf) |
| — | [Results-Financial Results For The Quarter And Nine Months Ended 31.12.2025 7 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6fe11ef0-3962-47d4-9d13-a26dd6fd58f8.pdf) |
| — | [Demat Report For The Month Of January, 2026 4 Feb](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d23ad493-6c96-4b12-b5fe-9bf4c4c68f2d.pdf) |
| — | [Closure of Trading Window 26 Sep 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ccc25ca6-d430-408f-b9af-9b2e9e62b6c7.pdf) |
| — | [Closure of Trading Window 26 Sep 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ccc25ca6-d430-408f-b9af-9b2e9e62b6c7.pdf) |
| — | [Outcome of Board Meeting 14 Aug 2019](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=29af30bb-147e-447c-8e28-10e47bfbef94.pdf) |
| — | [Outcome of Board Meeting 14 Aug 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/29af30bb-147e-447c-8e28-10e47bfbef94.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Financial Year 2013 from nse](https://archives.nseindia.com/annual_reports/AR_1352_NAHARCAP_2012_2013_03092013084935.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e6ffb688-e872-45ea-9580-7181dfc93816.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a9017984-5fea-4f03-821a-e634b07d33d5.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/648b7ad4-7896-4743-aade-4b4e55f37db8.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532952/73871532952.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/532952/70226532952.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/532952/65734532952.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/532952/5329520319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/532952/5329520318.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/539010/5390100318.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 2026-09-13T18:47:05.951Z.