MAHASTEELIndustrials

Mahamaya Steel Industries Limited

Iron & Steel Products · ISIN INE451L01014 · BSE 513554 · NSE BE · FV ₹10
Last price
₹1,202
-5.00%today
What this company does

Mahamaya Steel Industries Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹268 cr of revenue in its latest quarter (Q1 FY27) and kept 0.8% of sales as profit.

Mahamaya is one of the few in the country who manufactures 600 MM joist and 250 MM angles .
In the report:
44out of 100
Equitytale Health Score
Strained

Healthier than 44% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns25

How much profit it earns on the money it employs

Balance sheet47

How much it owes, and whether earnings cover the interest

Cash quality46

Whether reported profit actually arrives as cash

Growth & consistency71

Whether sales and profit have grown, and how steadily

Valuation4

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 29% vs last year
Profit up 23% vs last year
Promoters hold 73%
No promoter shares pledged
Watch-outs
! Thin 0.8% net margin
! Low 5.4% return on equity
! Operating cash flow is negative

What if I invest in MAHASTEEL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,202 -5.00%
latest close · 2026-09-17
1-year return
+1224.4%
52-wk low ₹6052-wk high ₹1,421
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio231.1High
LowAverageHigh
P/B ratio12.44High
Below bookModerateHigh
EV / EBITDA86.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.4%Weak
WeakFairStrong ▸15%
Return on capital8.3%Fair
WeakFairStrong
Net margin0.8%Thin
ThinDecentStrong
EBITDA margin2.2%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.37Comfortable
LowModerateHigh ▸1
Interest cover5.2×Strong
RiskyOkayStrong ▸5×
Current ratio1.41Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,975 cr
Book value
₹97
EPS
₹1.30
latest quarter
Net debt
₹58 cr
owes more than its cash
Enterprise value
₹2,033 cr
EBITDA
₹24 cr
annualised
EBIT
₹14 cr
annualised
Operating margin
1.3%
Return on assets
3.2%
Earnings yield
0.43%
P/S
1.85
Sales / share
₹651.4
Tax rate
26.0%
Face value
₹10
Shares
1.6 cr
Working capital
₹40 cr
Current assets
₹137 cr
Current liabilities
₹97 cr
Delivery %
56.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The models disagree too widely to call this cheap or dear — likely a hard-to-compare or transitioning business.
Models span ₹24₹85, midpoint ₹71

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹268 cr
Other Income₹12.1 L
Total Income₹268 cr
Cost of Materials₹211 cr
Purchases of Stock-in-Trade₹89.3 L
Inventory Change (±)₹9 cr
Employee Benefit Expense₹6 cr
Finance Costs₹69.3 L
Depreciation & Amortisation₹2 cr
Other Expenses₹35 cr
Total Expenses₹265 cr
Profit before Tax₹3 cr
Tax Expense₹75.2 L
Share of JV / Associates₹-0.72 L
Net Profit₹2 cr
Net margin on total income0.8%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹221 cr82.6%
Employee benefit expense₹6 cr2.3%
Finance costs₹69.3 L0.3%
Depreciation & amortisation₹2 cr0.9%
Other expenses₹35 cr12.9%
Tax expense₹75.2 L0.3%
Profit for the period₹2 cr0.8%
Total income ₹268 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue224 cr263 cr268 cr
Total income224 cr264 cr268 cr
Expenses222 cr259 cr265 cr
Profit before tax2 cr6 cr3 cr
Tax64 L2 cr75.2 L
Net profit (owners' share)2 cr4 cr2 cr
Net margin (owners' share, on revenue)0.9%1.5%0.8%
EPS (₹)1.162.481.30
YoY (latest quarter): total income +29.3% · net profit +22.6%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹270 cr
Shareholder equity
₹159 cr
parent shareholders
Total debt
₹58 cr
Cash
₹12 L
Cash flow · H1 FY26
Operating
₹-4 cr
Investing
₹-43 L
Financing
₹13 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,460₹64,903 cr15.5
APL Apollo Tubes Limited₹2,149₹59,664 cr56.7
Shyam Metalics and Energy Limited₹1,077₹29,982 cr21.4
Ratnamani Metals & Tubes Limited₹2,703₹18,943 cr57.6
Jindal Saw Limited₹291₹18,622 cr44.7
Usha Martin Limited₹496₹15,122 cr26.6
Godawari Power And Ispat limited₹238₹14,709 cr16.6
Gallantt Ispat Limited₹538₹12,974 cr26.2
Maharashtra Seamless Limited₹720₹9,651 cr9.1
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
72.8%
FII / Foreign
0.0%
DII / Domestic
0.0%
Retail / others
27.2%
Promoter stake down 0.6% over the last 12 quarters.
Smart-money activity
Insider trades
SoldRAMANAND AGRAWAL HUF · Promoters44,518 · ₹1.3 cr6 Jun 25
SoldRAMANAND AGRAWAL HUF · Promoters55,000 · ₹1.6 cr4 Jun 25
BoughtABHISHEK AGRAWAL · Promoters8.10 L · ₹6.9 cr14 Dec 23
Bulk / block deals
SoldQUADRATURE CAPITAL VECTOR SP LIMITED · NSE95,649 @ ₹683.5910 Feb 26
BoughtKULDIP SINGH RATHEE · NSE90,000 @ ₹3026 Jun 25
SoldQE SECURITIES LLP · NSE1.04 L @ ₹142.9521 Aug 24
Stake changes
BoughtVijay Rathee→ 11.45% · 31,41031 Aug 26
BoughtVijay Rathee→ 5.00% · 2,8108 Jul 26
SoldRamanand Agrawal HUF · promoter→ 0.78% · 44,5186 Jun 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 25 Sep 2025
See the official result
1
ADOPTION OF THE AUDITED STANDALONE FINANCIAL STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2025 AND THE REPORTS OF THE BOARD OF DIRECTORS AND AUDITORS THEREON
Backed by 100% of shareholders other than promotersneeded 50%
4.11 L votes for, 3 against
2
ADOPTION OF THE AUDITED CONSOLIDATED FINANCIAL STATEMENT OF THE COMPANY FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2025 AND THE REPORT OF AUDITORS THEREON
Backed by 100% of shareholders other than promotersneeded 50%
4.12 L votes for, 3 against
3
APPOINTMENT OF MRS. REKHA AGARWAL (DIN: 00597156) AS A NON-EXECUTIVE NON-INDEPENDENT DIRECTOR LIABLE TO RETIRE BY ROTATION
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
4.12 L votes for, 3 against
4
RE-APPOINTMENT OF MR. RAJESH AGRAWAL (DIN: 00806417) AS A MANAGING DIRECTOR
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
4.12 L votes for, 3 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 8 named members
owning 72.8% between them · as of 2026-06-30
ESCORT FINVEST PRIVATE LIMITED24.95%
RAJESH AGRAWAL20.50%
ABHISHEK STEEL INDUSTRIES PRIVATE LIMITED8.21%
REKHA AGRAWAL7.10%
RAJESH AGRAWAL HUF (RAJESH AGRAWAL)6.33%
ABHISHEK AGRAWAL4.93%
RAMANAND AGRAWAL HUF (RAMANAND AGRAWAL)0.78%
RAMANAND AGRAWALno shares
Business done with them
FY2025 · 3 of the group
The company paid ₹4 cr to companies in the promoter group last year — about 0.6% of its ₹802 cr revenue and received ₹0.85 L back from them.
RAJESH AGRAWAL
Other payments to them · Remuneration
also owns 20.50% of the company
₹2 cr
company paid
ABHISHEK STEEL INDUSTRIES PRIVATE LIMITED
Bought goods from them · Purchase and Rental Income
also owns 8.21% of the company
₹2 cr
company paid
RAJESH AGRAWAL HUF
Other payments to them · Transportation charges paid
also owns 6.33% of the company
₹28.3 L
company paid
ABHISHEK STEEL INDUSTRIES PRIVATE LIMITED
Other income from them · Purchase and Rental Income
also owns 8.21% of the company
₹0.85 L
company received

The company also transacted with 4 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.