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Mahamaya Steel Industries Ltd (MAHASTEEL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513554 NSE: MAHASTEEL Steel & Iron Products | Small Cap | Mahamaya Steel Inds. Share Price
₹1,400 -69.10 (-4.70%)
As on 04-Nov'26 15:50
Mahamaya Steel Industries Ltd (MAHASTEEL)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 513554 NSE: MAHASTEEL Steel & Iron Products | Small Cap | Mahamaya Steel Inds. Share Price
₹1,400 -69.10 (-4.70%)
As on 04-Nov'26 15:50
Key Metrics
Valuation Multiples
Market Cap
₹2,414 Cr.
Current Price
₹1,400
52-Week Low / High
₹595 / 1,560
TTM EPS
₹6.1
TTM Sales
₹943 Cr.
Book Value per Share
₹97.9
P/E Ratio
241.68
Higher than its 5-year historical median
Industry PE
22.2
Price to Book (P/B)
15.01
Higher than its 5-year historical median
Price to Sales (P/S)
2.56
Higher than its 5-year historical median
EV/EBITDA
94.49
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
6.24%
Underperforms industry median
Return on Capital Employed (ROCE)
8.72%
Underperforms industry median
Return on Assets (ROA)
3.73%
Underperforms industry median
Operating Profit Margin
2.7%
Underperforms industry median
Net Profit Margin
1.09%
Underperforms industry median
Gross Profit Margin
2.3%
Underperforms industry median
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
10.11%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
26.39%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
26.32%
Asset Quality
Promoter Holding
72.80%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹144 Cr.
Equity
₹16.4 Cr.
Face Value
₹10
All Time Low / High
₹19.00 / 1560.00
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Quality
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Valuation
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Price Trend
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Is Mahamaya Steel Industries Ltd a good quality company?
Mahamaya Steel Industries Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
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How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
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How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
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How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Mahamaya Steel Industries Ltd performance compare with that of its Peers?
Revenue growth of Mahamaya Steel Industries Ltd vs industry peers?
Mahamaya Steel Industries Ltd revenue CAGR is 28.61%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
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.
Stock return of Mahamaya Steel Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 22.5% based on the current price.
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)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Mahamaya Steel Industries Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.8% | 8.8% | 9.7% | 5.6% | 4.3% | 5.6% | 5.4% | 6.9% | 7% | 8.7% | - |
| Value Creation Index ⓘ | -0.4 | -0.4 | -0.3 | -0.6 | -0.7 | -0.6 | -0.6 | -0.5 | -0.5 | -0.4 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 254 | 297 | 465 | 358 | 251 | 495 | 650 | 784 | 802 | 883 | 943 |
| Sales YoY Gr. | - | 16.9% | 56.7% | -23.1% | -29.9% | 97.4% | 31.2% | 20.6% | 2.3% | 10.1% | - |
| Adj EPS ⓘ | 0.5 | 1.7 | 4 | 2.4 | 0.3 | 1.9 | 2.2 | 2.4 | 3.6 | 5 | 5.6 |
| YoY Gr. | - | 251.1% | 139.4% | -39.5% | -87.9% | 558.6% | 16.2% | 9.5% | 46.9% | 40.6% | - |
| BVPS (₹) ⓘ | 61.2 | 63.2 | 67.7 | 70.2 | 73.1 | 75.2 | 77.8 | 80.8 | 84.6 | 90.1 | 91.4 |
| Adj Net Profit ⓘ | 0.6 | 2.2 | 5.4 | 3.3 | 0.4 | 3.2 | 3.7 | 4 | 5.9 | 8.3 | 9 |
| Cash Flow from Ops. ⓘ | 15.5 | 2.9 | 17.8 | 34.6 | -4.2 | 44 | 1.8 | 14.3 | 8.9 | 7.7 | - |
| Debt/CF from Ops. ⓘ | 6.1 | 35.3 | 5.7 | 2.3 | -19.2 | 1 | 24.4 | 2.9 | 5.2 | 7.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.9% | 28.6% | 10.8% | 10.1% | ||||
| Adj EPS ⓘ | 30.1% | 76.9% | 31.3% | 40.6% | ||||
| BVPSⓘ | 4.4% | 4.3% | 5% | 6.4% | ||||
| Share Price | 21.9% | 73.8% | 156.4% | 131.3% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 0.7 | 2.7 | 6 | 3.5 | 0.4 | 2.7 | 2.9 | 3.1 | 4.3 | 5.8 | 6.2 |
| Op. Profit Mgn % ⓘ | 6.4 | 7.1 | 4.9 | 4.4 | 5 | 3.1 | 2.1 | 2.1 | 2.3 | 2.7 | 2.6 |
| Net Profit Mgn % ⓘ | 0.3 | 0.8 | 1.2 | 0.9 | 0.2 | 0.6 | 0.6 | 0.5 | 0.7 | 0.9 | 1 |
| Debt to Equity ⓘ | 1.1 | 1.2 | 1.1 | 0.8 | 0.8 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | - |
| Working Cap Days ⓘ | 131 | 137 | 103 | 127 | 177 | 85 | 64 | 62 | 64 | 65 | 27 |
| Cash Conv. Cycle ⓘ | 87 | 77 | 56 | 73 | 101 | 51 | 40 | 39 | 38 | 38 | 8 |
Valuation of Mahamaya Steel Inds. - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 254 | 297 | 465 | 358 | 251 | 495 | 650 | 784 | 802 | 883 |
| Operating Expenses ⓘ + | 238 | 276 | 443 | 342 | 238 | 480 | 636 | 768 | 783 | 859 |
| Operating Profit ⓘ | 16 | 21 | 23 | 16 | 13 | 15 | 14 | 16 | 19 | 24 |
| Operating Profit Margin (%) | 6.4% | 7.1% | 4.9% | 4.4% | 5.0% | 3.1% | 2.1% | 2.1% | 2.3% | 2.7% |
| Other Income ⓘ + | 2 | 2 | 2 | 1 | 0 | 0 | 1 | 1 | 1 | 2 |
| Interest ⓘ | 11 | 12 | 11 | 9 | 6 | 5 | 3 | 5 | 4 | 5 |
| Depreciation ⓘ | 6 | 7 | 6 | 6 | 6 | 6 | 6 | 7 | 8 | 9 |
| Profit Before Tax ⓘ | 3 | 4 | 7 | 1 | 1 | 5 | 6 | 9 | 10 | 13 |
| Tax ⓘ | -0 | 2 | 1 | -2 | 1 | 2 | 2 | 2 | 2 | 3 |
| Profit After Tax | 3 | 3 | 6 | 3 | 1 | 3 | 4 | 7 | 8 | 10 |
| PAT Margin (%) | 1.3% | 0.9% | 1.3% | 0.9% | 0.2% | 0.6% | 0.6% | 0.9% | 1.0% | 1.1% |
| Adjusted EPS (₹) | 0.9 | 1.7 | 4.3 | 1.8 | 0.7 | 3.1 | 3.4 | 4.1 | 4.7 | 5.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 88 | 90 | 96 | 98 | 111 | 129 | 134 | 141 | 149 | 159 | |
| Debt + | 92 | 100 | 100 | 78 | 77 | 44 | 43 | 39 | 44 | 56 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 2 | 22 | 19 | 18 | 15 | 6 | 18 | 14 | 24 | 24 | |
| Others Liabilities ⓘ | 29 | 20 | 23 | 17 | 20 | 27 | 29 | 39 | 27 | 31 | |
| Total Liabilities ⓘ | 211 | 231 | 238 | 211 | 224 | 205 | 225 | 233 | 244 | 270 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 74 | 69 | 66 | 63 | 61 | 60 | 65 | 69 | 70 | 73 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 32 | 32 | 32 | 31 | 31 | 31 | 30 | 26 | 27 | 28 | |
| Inventories | 40 | 61 | 84 | 63 | 72 | 47 | 80 | 87 | 81 | 110 | |
| Trade Receivables | 27 | 24 | 17 | 17 | 20 | 21 | 18 | 15 | 25 | 18 | |
| Cash Equivalents | 4 | 5 | 4 | 3 | 2 | 15 | 0 | 1 | 1 | 0 | |
| Others Assets ⓘ | 34 | 41 | 35 | 33 | 38 | 32 | 31 | 35 | 40 | 41 | |
| Total Assets ⓘ | 211 | 231 | 238 | 211 | 224 | 205 | 225 | 233 | 244 | 270 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 13 | 3 | 18 | 35 | -4 | 44 | 2 | 14 | 9 | 8 |
| Cash Flow From Investing Activity ⓘ + | 2 | 1 | -7 | -3 | 1 | -5 | -11 | -6 | -11 | -15 |
| Cash Flow From Financing Activity ⓘ + | -16 | -4 | -11 | -31 | 5 | -26 | -5 | -8 | 1 | 7 |
| Net Cash Flow ⓘ | -0 | 1 | -1 | 1 | 2 | 13 | -15 | 1 | -1 | -1 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.96 | 2.85 | 6.57 | 3.35 | 0.52 | 2.62 | 3.17 | 4.87 | 5.24 | 6.24 |
| ROCE (%) | 7.64 | 8.56 | 9.48 | 5.51 | 4.18 | 5.43 | 5.24 | 7.67 | 7.39 | 8.72 |
| Asset Turnover Ratio | 1.34 | 1.37 | 1.98 | 1.6 | 1.15 | 2.31 | 3.02 | 3.42 | 3.36 | 3.43 |
| PAT to CFO Conversion(x) | 4.33 | 1 | 3 | 11.67 | -4 | 14.67 | 0.5 | 2 | 1.13 | 0.8 |
| Working Capital Days | ||||||||||
| Receivable Days | 44.20 | 30.50 | 16.10 | 17.40 | 26.80 | 15.20 | 11.10 | 7.60 | 9 | 8.90 |
| Inventory Days | 49.40 | 61.10 | 56.80 | 75 | 98.40 | 43.70 | 35.70 | 39.10 | 38.30 | 39.50 |
| Payable Days | 9.10 | 18.10 | 21.80 | 26.70 | 31.80 | 10.20 | 8.80 | 9.10 | 11.30 | 13.30 |
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Last Visited Stocks
Announcements
Annual reports
No annual reports available.
Concalls
No concalls available.
Mahamaya Steel Industries Ltd FAQs
The current trading price of Mahamaya Steel Inds. on 04-Nov-2026 15:50 is ₹1,400.
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 03-Nov-2026 the market cap of Mahamaya Steel Inds. stood at ₹2,414.4 Cr
The latest P/E ratio of Mahamaya Steel Inds. as of 03-Nov-2026 is 262.1.
The latest P/B ratio of Mahamaya Steel Inds. as of 03-Nov-2026 is 16.08.
The 52-week high of Mahamaya Steel Inds. is ₹1,560 and the 52-week low is ₹595.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mahamaya Steel Inds. is ₹943 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mahamaya Steel Industries Ltd is a below average quality company.
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.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Mahamaya Steel Industries Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
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 structural’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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