Is Mahamaya Steel Industries Ltd (MAHASTEEL) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mahamaya Steel Industries Ltd is a below average quality company .

Is Mahamaya Steel Industries Ltd (MAHASTEEL) undervalued or overvalued?

The key valuation ratios of Mahamaya Steel Industries Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Mahamaya Steel Industries Ltd (MAHASTEEL) share price return in the past 10 years?

Mahamaya Steel Industries Ltd share price has appreciated 21.5% annually (CAGR) over the past ten years.

Is Mahamaya Steel Industries Ltd (MAHASTEEL) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Mahamaya Steel Industries Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Mahamaya Steel Industries Ltd (MAHASTEEL)?

Company share prices are keep on changing according to the market conditions. The current trading price of Mahamaya Steel Industries Ltd (MAHASTEEL) on 30-Apr-2026 16:59:59 at 16:59 is 853.00.

What is the P/E ratio of Mahamaya Steel Industries?

The latest standalone P/E ratio of Mahamaya Steel Industries as of 30-Apr-2026 is 158.15.

What is the P/B ratio of Mahamaya Steel Industries Ltd (MAHASTEEL)?

The latest standalone P/B ratio of Mahamaya Steel Industries Ltd (MAHASTEEL) as of 30-Apr-2026 is 9.75.

What is the 52-week high and low of Mahamaya Steel Industries Ltd (MAHASTEEL)?

The 52-week high of Mahamaya Steel Industries Ltd (MAHASTEEL) is Rs. 1061.85 and the 52-week low is Rs. 235.00.

Mahamaya Steel Industries Ltd (MAHASTEEL) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Mahamaya Steel Industries Ltd (MAHASTEEL)
Brand: Mahamaya Steel Industries

Mahamaya Steel Industries Ltd (MAHASTEEL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Mahamaya Steel Industries Ltd (MAHASTEEL)

BSE: 513554 NSE: MAHASTEEL

Key Metrics

Market Cap

₹1,402 Cr.

P/E Ratio

158.15

Price to Book (P/B)

9.75

Price to Sales (P/S)

1.64

EV/EBITDA

58.73

Return on Capital Employed (ROCE)

6.99%

Current Price

₹853

Return on Equity (ROE)

4.56%

Return on Assets (ROA)

2.70%

Operating Profit Margin

2.3%

Net Profit Margin

0.77%

Gross Profit Margin

Book Value per Share

₹87.5

Sales Growth (YoY)

2.29%

Sales Growth (3 Years)

17.41%

Operating Profit Growth (1 Year)

14.78%

Operating Profit Growth (3 Years)

6.63%

Net Profit Growth (1 Year)

29.44%

52-Week Low / High

₹235 / 1,062

Net Profit Growth (3 Years)

25.35%

Dividend Yield

0.00%

Promoter Holding

72.80%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Stock return of Mahamaya Steel Industries Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 21.3% based on the current price.

Q.1 Revenue growth of Mahamaya Steel Industries Ltd?

Mahamaya Steel Industries Ltd revenue growth is 2.3% for FY-2025, which is below its 5-year CAGR of 17.51%, indicating slower growth.

Q.1 Which industry/sub-sector does Mahamaya Steel Industries Ltd belong to?

Mahamaya Steel Industries Ltd belongs to the Metals & Mining sector, operating specifically within the Steel & Iron Products segment.

Q.1 Promoter shareholding and pledge status of Mahamaya Steel Industries Ltd?

Promoters hold 72.80% of the Mahamaya Steel Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Mahamaya Steel Industries Ltd vs industry peers?

Mahamaya Steel Industries Ltd revenue CAGR is 17.51%, compared to the industry median CAGR of 11.40%, indicating faster growth and gaining its market share.

DeciZen - make an informed investing decision on Mahamaya Steel Inds

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

Mahamaya Steel Industries stock performance

Key Ratios

Is Mahamaya Steel Industries Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	-1.4%	7.8%	8.8%	9.7%	5.6%	4.3%	5.6%	5.4%	6.9%	7%	-
Value Creation Index ⓘ	-1.1	-0.4	-0.4	-0.3	-0.6	-0.7	-0.6	-0.6	-0.5	-0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	317	254	297	465	358	251	495	650	784	802	856
Sales YoY Gr.	-	-20%	16.9%	56.7%	-23.1%	-29.9%	97.4%	31.2%	20.6%	2.3%	-
Adj EPS ⓘ	-12	0.5	1.7	4	2.4	0.3	1.9	2.2	2.4	3.6	5.4
YoY Gr.	-	NA	251.1%	139.4%	-39.5%	-87.9%	558.6%	16.2%	9.5%	46.9%	-
BVPS (₹) ⓘ	57.1	61.2	63.2	67.7	70.2	73.1	75.2	77.8	80.8	84.6	87.5
Adj Net Profit ⓘ	-16.3	0.6	2.2	5.4	3.3	0.4	3.2	3.7	4	5.9	9
Cash Flow from Ops. ⓘ	25.2	15.5	2.9	17.8	34.6	-4.2	44	1.8	14.3	8.9	-
Debt/CF from Ops. ⓘ	2.8	6.1	35.3	5.7	2.3	-19.2	1	24.4	2.9	5.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	10.9%	17.5%	17.4%	2.3%
Adj EPS ⓘ	NA	8.4%	23.2%	46.9%
BVPSⓘ	4.5%	3.8%	4%	4.8%
Share Price	21.5%	55.8%	126.4%	228.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	-14	0.7	2.7	6	3.5	0.4	2.7	2.9	3.1	4.3	6.3
Op. Profit Mgn % ⓘ	0.5	6.4	7.1	4.9	4.4	5	3.1	2.1	2.1	2.3	2.8
Net Profit Mgn % ⓘ	-5.2	0.3	0.8	1.2	0.9	0.2	0.6	0.6	0.5	0.7	1
Debt to Equity ⓘ	0.7	1.1	1.2	1.1	0.8	0.8	0.4	0.3	0.3	0.3	-
Working Cap Days ⓘ	115	131	137	103	127	177	85	64	62	64	27
Cash Conv. Cycle ⓘ	78	87	77	56	73	101	51	40	39	38	9

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	5.4	6.7
TTM Sales (₹ Cr.)	856	856
BVPS (₹) ⓘ	87.5	93.8
Reserves (₹ Cr.) ⓘ	127	138
P/BV ⓘ	9.75	9.09
PE ⓘ	158.15	128.19

From the Market
52 Week Low / High (₹)	235.00 / 1061.85
All Time Low / High (₹)	19.00 / 1061.85
Market Cap (₹ Cr.)	1,402
Equity (₹ Cr.)	16.4
Face Value (₹)	10
Industry PE ⓘ	27.2

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Mahamaya Steel Inds - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	317	254	297	465	358	251	495	650	784	802
Operating Expenses ⓘ +	316	238	276	443	342	238	480	636	768	783
Manufacturing Costs	72	58	28	80	75	40	85	116	140	149
Material Costs	227	171	238	345	252	190	379	502	611	614
Employee Cost	6	6	8	11	11	6	5	7	10	14
Other Costs ⓘ	12	3	3	7	4	3	10	11	6	7
Operating Profit ⓘ	1	16	21	23	16	13	15	14	16	19
Operating Profit Margin (%)	0.5%	6.4%	7.1%	4.9%	4.4%	5.0%	3.1%	2.1%	2.1%	2.3%
Other Income ⓘ +	1	2	2	2	1	0	0	1	1	1
Exceptional Items ⓘ	2	2	-0	-0	0	0	0	1	1	0
Interest ⓘ	9	11	12	11	9	6	5	3	5	4
Depreciation ⓘ	7	6	7	6	6	6	6	6	7	8
Profit Before Tax ⓘ	-12	3	4	7	1	1	5	6	7	9
Tax ⓘ	3	0	2	1	-2	1	2	2	2	2
Profit After Tax	-15	3	3	6	3	1	3	4	5	6
PAT Margin (%)	-4.8%	1.0%	0.9%	1.3%	0.9%	0.2%	0.6%	0.6%	0.6%	0.8%
Adjusted EPS (₹)	-11.2	1.9	1.9	4.5	2.4	0.4	1.9	2.5	2.9	3.8
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	109	83	86	92	95	108	124	128	133	139
Share Capital ⓘ	46	14	14	14	14	15	16	16	16	16
Reserves ⓘ	64	70	72	78	82	93	107	111	116	123
Debt +	70	92	100	100	78	77	44	43	39	44
Long Term Debt	6	36	36	34	29	32	26	23	19	9
Short Term Debt	64	55	64	65	48	46	18	20	20	35
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	7	2	22	19	18	15	6	18	14	24
Others Liabilities ⓘ	24	30	20	23	17	20	27	29	39	27
Total Liabilities ⓘ	210	207	227	234	208	221	200	218	225	234
Fixed Assets
Net Fixed Assets ⓘ +	69	74	69	66	63	61	60	65	69	70
Gross Block	121	80	82	85	88	91	96	107	115	124
Accumulated Depreciation	53	6	13	19	25	31	36	41	47	53
CWIP ⓘ	2	0	0	0	0	0	0	0	0	0
Investments ⓘ	30	28	28	28	28	28	26	24	18	18
Inventories	37	40	61	84	63	72	47	80	87	81
Trade Receivables	42	27	24	17	17	20	21	18	15	25
Cash Equivalents	6	4	5	4	3	2	15	0	1	1
Others Assets ⓘ	24	34	41	35	33	38	32	31	35	40
Total Assets ⓘ	210	207	227	234	208	221	200	218	225	234

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	25	15	3	18	35	-4	44	2	14	9
PBT ⓘ	-12	3	4	7	1	1	5	6	7	9
Adjustment ⓘ	16	12	18	18	15	12	9	9	11	11
Changes in Working Capital ⓘ	21	1	-19	-6	19	-16	33	-12	-1	-9
Tax Paid ⓘ	0	-0	-1	-1	-1	-1	-3	-2	-3	-2
Cash Flow From Investing Activity ⓘ +	-16	0	1	-7	-3	1	-5	-11	-6	-11
Capex	-2	-8	-2	-3	-4	-3	-5	-11	-9	-9
Net Investments	-14	7	-0	-0	2	0	2	4	6	-0
Others ⓘ	0	2	3	-4	-1	3	-2	-4	-2	-2
Cash Flow From Financing Activity ⓘ +	-10	-16	-4	-11	-31	5	-26	-5	-8	1
Net Proceeds from Shares ⓘ	0	0	0	0	0	12	14	0	0	0
Net Proceeds from Borrowing ⓘ	2	4	-0	-2	-5	7	12	-1	-2	-8
Interest Paid ⓘ	-9	-11	-12	-11	-9	-6	-5	-3	-5	-4
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	-2	-9	8	2	-17	-7	-47	-1	-0	13
Net Cash Flow ⓘ	-1	-0	1	-1	1	2	13	-15	1	-1

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	-17.92	3.16	3	6.87	3.48	0.54	2.72	3.32	3.67	4.56
ROCE (%)	-1.35	7.83	8.77	9.69	5.61	4.26	5.56	5.42	6.89	6.99
Asset Turnover Ratio	1.65	1.37	1.4	2.02	1.62	1.17	2.35	3.11	3.54	3.49
PAT to CFO Conversion(x)	N/A	5	1	3	11.67	-4	14.67	0.5	2.8	1.5
Working Capital Days
Receivable Days	41.40	44.20	30.50	16.10	17.40	26.80	15.20	11.10	7.60	9
Inventory Days	43.40	49.40	61.10	56.80	75	98.40	43.70	35.70	39.10	38.30
Payable Days	8.80	9.10	18.10	21.80	26.70	31.80	10.20	8.80	9.60	11.30

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Mahamaya Steel Industries Ltd FAQs

The current trading price of Mahamaya Steel Inds on 30-Apr-2026 16:59 is ₹853.0.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Apr-2026 the market cap of Mahamaya Steel Inds stood at ₹1,401.9 Cr

The latest P/E ratio of Mahamaya Steel Inds as of 29-Apr-2026 is 158.2.

The latest P/B ratio of Mahamaya Steel Inds as of 29-Apr-2026 is 9.75.

The 52-week high of Mahamaya Steel Inds is ₹1,061.9 and the 52-week low is ₹235.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mahamaya Steel Inds is ₹856 ( Cr.) .

About Mahamaya Steel Industries Ltd

Mahamaya Steel Industries has been promoted by Ramanand Agrawal and Anand Kumar Agrawaal and Jaiprakash Agarwal. The company is presently manufacturing MS strips, MS channels, MS Girders and MS Flats of various sizes having overall capacity of 19,500 MT per annum. Its products are marketed under RSL name.

The company has implemented a project for manufacturing steel strips and structural products with installed capacity of 19,500 MT p.a. The commercial production was commenced on August 23, 1990.

The company has successfully implemented a power project of 3 MW capacities. In 2009, the company name has been changed from Rajesh Strips to Mahamaya Steel Industries.

The ISO 9001:2000 certified company produces light and heavy steel structuralâ€™s like crossing sleeper bars, meter gauge sleepers, and joists in various ranges used by the construction, automobile, and consumer durable industries. An oxygen gas plant with an installed capacity of 900,000 cubic meters has been set up for captive consumption, but excess production is sold to outside parties creating an additional source of income.

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
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Mahamaya Steel Industries Ltd (MAHASTEEL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Mahamaya Steel Inds Share Price