---
title: "Maks Energy Solutions India Ltd (MAKS) — Share Price, Financials & Analysis"
symbol: "MAKS"
company: "Maks Energy Solutions India Ltd"
canonical: "https://tapetide.com/stocks/MAKS"
isin: "INE0CDK01019"
nse_symbol: "MAKS"
sector: "Industrial Products"
industry: "Compressors Pumps & Diesel Engines"
market_cap_cr: 10.58
generated_at: "2026-09-13T18:26:05.085Z"
---

# Maks Energy Solutions India Ltd (MAKS)

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

## Company

- **NSE Symbol:** MAKS
- **ISIN:** INE0CDK01019
- **Sector:** Industrial Products
- **Industry:** Compressors Pumps & Diesel Engines
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2022-09-28
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** maksgenerators.com

## About

Incorporated in 2010, MAKS Energy Solutions Ltd is engaged in assembly and sale of Diesel Generating (DG) Sets and distribution of auto spare parts.[1]

## Latest Price

- **Price:** ₹15.1
- **Change:** -0.7 (-4.43%)
- **Open:** ₹15.25
- **Day High:** ₹15.25
- **Day Low:** ₹15.1
- **Previous Close:** ₹15.8
- **Volume:** 3000
- **As Of:** 2026-09-11T04:49:23+00:00

## Key Fundamentals

Observed at 2026-09-11T04:44:27.812530Z.

- **Market Cap:** ₹10.58 Cr
- **Classification:** SME
- **P/E (reported):** 16.5
- **Book Value:** ₹25.32
- **Price to Book:** 0.62
- **Dividend Yield:** 0%
- **ROE:** 4.48%
- **ROCE:** 24.9%
- **Debt to Equity:** 0.94
- **Revenue (yearly):** ₹28.2 Cr
- **Net Income:** ₹0.5 Cr
- **EBITDA:** ₹4.3 Cr
- **52-Week High:** ₹36
- **52-Week Low:** ₹12.65
- **RSI (14):** 41.61

## Key Insights

### Strengths

- Stock is trading at 0.60 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 4.20% over last 3 years.
- Debtor days have increased from 108 to 139 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 970.45% | 244.92% | -99.59% |
| ebitda margin growth | 46.93% | 45.95% | — |
| net income growth | 8% | 29% | 14% |
| revenue growth | 34.93% | 7% | 21% |
| roce | 88.07% | -28.32% | — |
| roe | — | 5.85% | — |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 7.35 | 18.19 | 20.3 | 24.03 | 30.88 | 35.38 | 34.05 | 32.43 | 26.11 | 27.97 |
| Expenses | 8.56 | 15.93 | 19.79 | 22.46 | 29.84 | 34 | 32.88 | 30.69 | 25.15 | 25.97 |
| Operating Profit | -1.21 | 2.26 | 0.51 | 1.57 | 1.04 | 1.38 | 1.17 | 1.74 | 0.96 | 2 |
| OPM % | -16.46 | 12.42 | 2.51 | 6.53 | 3.37 | 3.9 | 3.44 | 5.37 | 3.68 | 7.15 |
| Other Income | 2.53 | -4.65 | 0.27 | 0.11 | 0.19 | -0.26 | 0 | 0.03 | 0.19 | -0.1 |
| Interest | 1.2 | 1.12 | 1 | 0.89 | 0.94 | 0.98 | 1.01 | 1.17 | 1.05 | 1.08 |
| Depreciation | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Profit before tax | 0.1 | -3.53 | -0.24 | 0.77 | 0.27 | 0.13 | 0.15 | 0.59 | 0.09 | 0.81 |
| Tax % | 30 | 4.53 | 0 | 22.08 | 25.93 | 38.46 | 13.33 | 28.81 | 22.22 | 24.69 |
| Net Profit | 0.07 | -3.7 | -0.24 | 0.6 | 0.2 | 0.08 | 0.13 | 0.42 | 0.07 | 0.6 |
| EPS in Rs | 0.14 | -7.49 | -0.35 | 0.87 | 0.29 | 0.12 | 0.19 | 0.61 | 0.1 | 0.87 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 42.2 | 20.9 | 25.54 | 44.33 | 66.26 | 66.48 | 54.08 |
| Expenses | 38.81 | 18.18 | 24.48 | 42.25 | 63.85 | 63.59 | 51.13 |
| Operating Profit | 3.39 | 2.72 | 1.06 | 2.08 | 2.41 | 2.89 | 2.95 |
| OPM % | 8.03 | 13.01 | 4.15 | 4.69 | 3.64 | 4.35 | 5.45 |
| Other Income | 1.15 | -0.06 | -2.12 | 0.38 | -0.07 | 0.04 | 0.1 |
| Interest | 2.23 | 2.11 | 2.33 | 1.89 | 1.92 | 2.17 | 2.13 |
| Depreciation | 0.07 | 0.06 | 0.05 | 0.04 | 0.03 | 0.03 | 0.02 |
| Profit before tax | 2.24 | 0.49 | -3.44 | 0.53 | 0.39 | 0.73 | 0.9 |
| Tax % | 25.45 | 30.61 | 5.52 | 32.08 | 30.77 | 24.66 | 26.67 |
| Net Profit | 1.67 | 0.35 | -3.62 | 0.36 | 0.28 | 0.55 | 0.66 |
| EPS in Rs | 3.38 | 0.71 | -7.33 | 0.52 | 0.4 | 0.79 | 0.95 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4.94 | 4.94 | 4.94 | 6.93 | 6.93 | 6.93 | 6.93 |
| Reserves | 9.98 | 10.33 | 6.7 | 9.13 | 9.41 | 9.96 | 10.63 |
| Borrowings | 19.11 | 21.75 | 18.85 | 12.8 | 15.48 | 17.27 | 16.59 |
| Other Liabilities | 10.29 | 7 | 5.4 | 2.64 | 1.88 | 2.23 | 1.14 |
| Total Liabilities | 44.32 | 44.02 | 35.89 | 31.5 | 33.7 | 36.39 | 35.29 |
| Fixed Assets | 0.26 | 0.21 | 0.16 | 0.14 | 0.11 | 0.1 | 0.08 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 4.1 | 4.1 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 39.96 | 39.71 | 35.73 | 31.36 | 33.59 | 36.29 | 35.21 |
| Total Assets | 44.32 | 44.02 | 35.89 | 31.5 | 33.7 | 36.39 | 35.29 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -3.25 | 1.05 | 4.45 | 3.26 | 0.3 | 0.23 | 2.2 |
| Cash from Investing Activity | 0.04 | 0.03 | 0.07 | -0.02 | 0.09 | 0.1 | 0.14 |
| Cash from Financing Activity | 2.28 | -0.1 | -5 | -3.6 | 1.13 | 0.02 | -2.22 |
| Net Cash Flow | -0.93 | 0.98 | -0.47 | -0.36 | 1.52 | 0.34 | 0.12 |
| Free Cash Flow | -3.25 | 1.05 | 4.45 | 3.25 | 0.3 | 0.22 | 2.19 |
| CFO/OP | -79 | 44 | 439 | 164 | 20 | 9 | 82 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 167.54 | 359.76 | 303.26 | 109.92 | 75.14 | 110.8 | 139.37 |
| Inventory Days | 162.7 | 300.85 | 186.04 | 121.6 | 78.23 | 55.18 | 66.38 |
| Days Payable | 37.08 | 86.05 | 81.82 | 17.45 | 6.57 | 7.5 | 4.47 |
| Cash Conversion Cycle | 293.16 | 574.56 | 407.48 | 214.07 | 146.8 | 158.48 | 201.28 |
| Working Capital Days | 126.28 | 247.47 | 158.2 | 119.55 | 70.23 | 71.37 | 91.59 |
| ROCE % | — | 7.54 | 11.02 | 8.16 | 9.16 | 9.49 | 9.34 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2021 | Sep 2021 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 100% | 71.19% | 71.19% | 71.19% | 71.19% | 71.19% | 71.19% | 71.19% | 71.19% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 0% | 19.9% | 15.4% | 16.18% | 15.44% | 14.54% | 14.97% | 14.17% | 13.5% |
| Others | 0% | 0% | 8.91% | 13.41% | 12.63% | 13.37% | 14.28% | 13.84% | 14.64% | 14.32% |
| No. of Shareholders | 7 | 7 | 251 | 90 | 87 | 166 | 211 | 217 | 210 | 204 |

## Technical Indicators

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

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 5 / 6 / 8

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 15.01 | Buy |
| EMA (10) | 15.38 | Sell |
| SMA (20) | 14.98 | Buy |
| EMA (20) | 16.06 | Sell |
| SMA (50) | 20.63 | Sell |
| EMA (50) | 19.8 | Sell |
| SMA (100) | 25.83 | Sell |
| EMA (100) | 23.87 | Sell |
| SMA (200) | 28.22 | Sell |
| EMA (200) | 30.32 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 40.74 | Neutral |
| MACD (12,26,9) | -1.39 | Buy |
| Stochastic (14,3,3) | 67.02 | Neutral |
| ADX (14) | 29.32 | Buy |
| Williams %R (14) | -48.42 | Neutral |
| ATR (14) | 0.89 | High Volatility |
| ROC (12) | 7.86 | Buy |
| Stoch RSI (14) | 68.36 | Neutral |
| UO (7,14,28) | 51.79 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 9 Sep - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/companies-listing/corporate-filings-announcements?symbol=MAKS&tabIndex=sme) |
| 8 November 2025 - MAKS H1 results: auditor qualified over ₹477.37L receivables; adjusted loss ₹470.86L. | [Outcome of Board Meeting 8 November 2025 - MAKS H1 results: auditor qualified over ₹477.37L receivables; adjusted loss ₹470.86L.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_08112025201743_MAKSOUTCOMESEP2025.pdf) |
| 8 November 2025 - Board approved H1 results (30 Sep 2025); auditors qualified over ₹477.37L receivables. | [Outcome of Board Meeting 8 November 2025 - Board approved H1 results (30 Sep 2025); auditors qualified over ₹477.37L receivables.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_08112025203801_MAKSOUTCOMESEP2025.pdf) |
| 6 April 2026 - Regulation 74(5) certificate filed for quarter ended 31 March 2026; no rematerialisation requests. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 April 2026 - Regulation 74(5) certificate filed for quarter ended 31 March 2026; no rematerialisation requests.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_06042026155319_Certificate74.pdf) |
| 31 Aug - Newspaper publication of 16th AGM notice in Financial Express and Loksatta on August 30, 2026. | [Copy of Newspaper Publication 31 Aug - Newspaper publication of 16th AGM notice in Financial Express and Loksatta on August 30, 2026.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_31082026112424_Newspaper_publication.pdf) |
| 29 December 2025 - Mr. Ketan Harishchandra Shah resigns as Non-Executive Director effective December 29, 2025, due to professional commitments. | [Resignation 29 December 2025 - Mr. Ketan Harishchandra Shah resigns as Non-Executive Director effective December 29, 2025, due to professional commitments.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_29122025183335_MAKS291225.pdf) |
| 29 Aug - Record date 16 Sep 2026; book closure 17-23 Sep 2026 for AGM e-voting. | [General Updates 29 Aug - Record date 16 Sep 2026; book closure 17-23 Sep 2026 for AGM e-voting.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_29082026202237_Rocorddate26.pdf) |
| 29 Aug - Book closure 17–23 Sept 2026; record date 16 Sept 2026 for AGM e-voting. | [Record Date 29 Aug - Book closure 17–23 Sept 2026; record date 16 Sept 2026 for AGM e-voting.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_29082026201302_Rocorddate26.pdf) |
| 29 Aug - 16th AGM on 23 Sep 2026; annual report filed, Ms. Swati Shaw retires by rotation. | [Shareholders meeting 29 Aug - 16th AGM on 23 Sep 2026; annual report filed, Ms. Swati Shaw retires by rotation.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_29082026200903_MAKSAGM2026.pdf) |
| 28 Aug - Board approved AGM on September 23, 2026; record date September 16, book closure September 17-23. | [Outcome of Board Meeting 28 Aug - Board approved AGM on September 23, 2026; record date September 16, book closure September 17-23.](https://nsearchives.nseindia.com/corporate/MAKSGROUP_28082026174742_Outcome28826.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30844_MAKS_2025_2026_A_1257385_29082026203004.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28352_MAKS_2024_2025_A_2030084_03092025201412.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25596_MAKS_2023_2024_03092024185953.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23246_MAKS_2022_2023_02092023093818_09022023100000.zip) |

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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 2026-09-13T18:26:05.085Z.