Maharashtra Scooters
MAHSCOOTER NSE
Maharashtra Scooters
Financial ServicesNSE: MAHSCOOTER BSE: 500266 Investment Company
Key Fundamentals
SmallcapInvestment CompanyFinancial ServicesMarket Cap
₹14,754 Cr
Volatility
Moderate
P/E Ratio
53.2
EBITDA
₹309 Cr
Return on Equity
1.12%
Debt to Equity
0
Book Value
₹24,180.45
52W High
₹18,538
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 0.54 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
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
Maharashtra Scooters Ltd is a virtually debt-free financial services holding company trading at a market cap of ₹14,754 Cr with a P/E of 53.8x and a price-to-book of just 0.54x. The company delivers a healthy 84.4% dividend payout and has posted strong TTM sales growth of 41%, but its return on equity remains persistently low at approximately 1% over multiple time horizons.
Bull Case 8
- Company is almost debt-free, providing strong balance sheet resilience and minimal interest burden
- Stock trades at just 0.54x book value, suggesting significant discount to underlying asset value — particularly relevant for a holding/investment company
- Healthy dividend payout ratio of 84.4% with a current dividend yield of 1.68%, indicating consistent cash return to shareholders
- TTM compounded sales growth of 41% and TTM compounded profit growth of 44% show strong recent momentum in earnings
- 5-year compounded profit CAGR of 104% reflects substantial long-term earnings expansion
- 10-year stock price CAGR of 24% demonstrates meaningful long-term wealth creation for shareholders
- 5-year stock price CAGR of 24% and 3-year CAGR of 20% indicate sustained multi-year price appreciation despite recent weakness
- 10-year compounded sales CAGR of 43% reflects a durable long-term revenue growth trajectory
Bear Case 7
- Return on equity is persistently low at ~1% across 1-year, 3-year, 5-year, and 10-year periods, indicating poor capital efficiency
- P/E ratio of 53.8x is elevated, especially given the low ROE of ~1%, raising questions about valuation relative to earnings quality
- Stock has declined 26% over the past 1 year, reflecting significant near-term negative sentiment or de-rating
- Effective tax rate appears low, which may not be sustainable and could compress post-tax earnings if normalized
- 3-year ROE of just 0.83% suggests the company is not generating adequate returns on shareholder equity even over a medium-term horizon
- As a holding/investment company, earnings are heavily dependent on mark-to-market gains and dividend income from investee companies, making profits lumpy and hard to predict
- Despite 5-year profit CAGR of 104%, the ROE has remained flat at 1%, suggesting that profit growth has not translated into improved return efficiency on the growing equity base
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago Neutral 1
- Name change to Bajaj Nivesh Aug 28
Maharashtra Scooters has issued a postal ballot seeking shareholder approval to rename itself Bajaj Nivesh Limited and amend its object clause to include renewable energy activities.
TL;DR: Maharashtra Scooters is undergoing a corporate identity shift, seeking to rebrand as Bajaj Nivesh and expand into renewable energy. With only one recent news item and no negative or overtly positive catalysts, the near-term outlook hinges on whether the renewable energy pivot translates into tangible business activity beyond the name change.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 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 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Maharashtra Scooters insights
59 extracted metrics + investor summaries across FY12–FY26.
Documents
1
Board Meeting Outcome for Outcome Of Board Meeting Held On 22 April 2026
22 Apr - Board approved FY26 audited results, recommended Rs60 final dividend, set 30 June 2026 record date and 29 July 2026 AGM. 22 Apr - Board approved FY26 audited results, recommended Rs60 final dividend, set 30 June 2026 record date and 29 July 2026 AGM.
2
Audited Financial Results For The Year Ended 31 March 2026
22 Apr - FY26 audited results approved; final dividend Rs60/share recommended, record date 30 June 2026, AGM 29 July 2026. 22 Apr - FY26 audited results approved; final dividend Rs60/share recommended, record date 30 June 2026, AGM 29 July 2026.
4
Record Date For Determining Members Eligible To Receive The Final Dividend, If Approved By The Shareholders
22 Apr - FY26 audited results approved; Rs 60 final dividend recommended, record date 30 June 2026, AGM 29 July 2026. 22 Apr - FY26 audited results approved; Rs 60 final dividend recommended, record date 30 June 2026, AGM 29 July 2026.
5
Board Meeting Outcome for Outcome Of Board Meeting Held On 22 April 2026
15h - Board approved FY26 audited results, recommended Rs60 final dividend, set 30 June 2026 record date and 29 July 2026 AGM. 15h - Board approved FY26 audited results, recommended Rs60 final dividend, set 30 June 2026 record date and 29 July 2026 AGM.
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 ₹14,754 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 53.20, 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 ₹18,538.
Does Maharashtra Scooters Ltd pay dividends?
Maharashtra Scooters Ltd has a dividend yield of 1.68%.
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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