Maharashtra Scooters

₹7540.3 101.4 | 1.4%

WEBSITE BSE:500266 NSE : MAH.SCOOTER 10 May, 16:01

Market Cap ₹8617 Cr.

Stock P/E 43.2

P/B 0.3

Current Price ₹7540.3

Book Value ₹ 23639.6

Face Value 10

52W High ₹8600

Dividend Yield 2.25%

52W Low ₹ 4815.9

Edit Ratio

Maharashtra Scooters Research see more...

Overview Inc. Year: 1975Industry: Auto Ancillary

Maharashtra Scooters Ltd is an funding corporation. It is engaged in the manufacturing of pressure die casting dies, jigs and furniture, among others for two and three-wheelers, frequently for the auto industry.

Maharashtra Scooters Share Price

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Peer Comparison

Maharashtra Scooters Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	10	10	7	192	7	9	5	206	6	5
Other Income	0	0	0	0	1	0	0	0	1	0
Total Income	11	10	7	192	9	9	5	206	7	5
Total Expenditure	6	8	5	6	4	7	4	6	5	4
Operating Profit	5	3	3	186	5	2	1	200	2	1
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	1	1	1	1	1	1
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	4	2	2	186	4	1	1	200	1	0
Provision for Tax	1	1	1	-4	1	0	0	2	0	0
Profit After Tax	3	2	1	190	3	1	0	198	1	0
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	3	2	1	190	3	1	0	198	1	0
Adjusted Earnings Per Share	2.9	1.4	1.3	166.3	2.6	0.7	0.4	173	0.9	0.1

Maharashtra Scooters Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	7	4	7	9	8	12	14	15	15	194	216	222
Other Income	53	53	63	108	21	70	81	199	16	0	1	1
Total Income	60	58	70	117	29	82	96	214	31	194	218	223
Total Expenditure	10	9	12	15	14	20	20	20	20	20	23	19
Operating Profit	50	48	58	102	15	62	76	194	11	174	195	204
Interest	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	3	1	1	1	2	2	2	2	2	4
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	49	48	55	101	14	61	74	192	9	172	193	202
Provision for Tax	0	0	0	0	1	1	2	12	0	30	-2	2
Profit After Tax	49	48	55	101	13	61	73	180	9	143	195	199
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	49	48	55	101	13	61	73	180	9	143	195	199
Adjusted Earnings Per Share	42.7	41.6	47.9	88.4	11.4	53.2	63.7	157.4	7.7	124.9	170.9	174.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	11%	143%	78%	41%
Operating Profit CAGR	12%	0%	26%	15%
PAT CAGR	36%	3%	26%	15%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	51%	29%	15%	31%
ROE Average	1%	1%	1%	10%
ROCE Average	1%	1%	1%	10%

Maharashtra Scooters Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	225	239	252	312	6552	8225	11323	8211	16244	22853	19043
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	25	21	17	14	11	8	381	-31	1025	1838	1348
Total Current Liabilities	33	41	49	11	9	10	10	12	11	8	7
Total Liabilities	283	300	318	337	6572	8243	11714	8192	17280	24699	20398
Fixed Assets	7	7	4	7	7	13	15	15	14	13	12
Other Non-Current Assets	232	246	256	272	6481	8126	11524	7980	17162	24549	20348
Total Current Assets	43	47	58	58	84	104	175	197	104	137	38
Total Assets	283	300	318	337	6572	8243	11714	8192	17280	24699	20398

Maharashtra Scooters Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	7	32	15	12	0	0	0	0	75	1	0
Cash Flow from Operating Activities	-8	-6	-10	-8	-33	1	1	-7	-6	119	209
Cash Flow from Investing Activities	33	15	41	81	35	40	45	195	-68	-62	-3
Cash Flow from Financing Activities	-1	-26	-33	-80	-2	-41	-45	-113	-1	-58	-205
Net Cash Inflow / Outflow	24	-17	-2	-6	0	0	-0	75	-75	-0	0
Closing Cash & Cash Equivalent	32	15	12	6	0	0	0	75	1	0	0

Maharashtra Scooters Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	42.74	41.65	47.91	88.37	11.43	53.16	63.7	157.45	7.71	124.87	170.88
CEPS(Rs)	43.61	42.43	50.68	89.02	11.92	53.82	65.06	159.04	9.4	126.59	172.65
DPS(Rs)	20	25	30	30	30	33	33	50	50	80	160
Book NAV/Share(Rs)	196.52	208.92	220.73	272.99	5733.41	7197.09	9907.79	7184.41	14213.09	19996.28	16662.42
Core EBITDA Margin(%)	-45.74	-103.57	-64.64	-63.84	-61.54	-61.08	-37.95	-33.31	-31.52	89.57	89.53
EBIT Margin(%)	650.17	1014.93	701.05	1000.89	150.36	485.52	513.26	1247.44	59.2	88.74	89.25
Pre Tax Margin(%)	650.17	1014.92	701.05	1000.89	150.36	485.3	513.26	1247.44	59.2	88.74	89.25
PAT Margin (%)	650.17	1014.92	701.05	1000.89	137.03	480.66	502.24	1170.32	57.67	73.53	90.27
Cash Profit Margin (%)	663.44	1034.05	741.48	1008.17	142.83	486.57	512.94	1182.13	70.33	74.54	91.2
ROA(%)	18.7	16.33	17.7	30.81	0.38	0.82	0.73	1.81	0.07	0.68	0.87
ROE(%)	22.87	20.54	22.3	35.8	0.38	0.82	0.74	1.84	0.07	0.73	0.93
ROCE(%)	22.87	20.54	22.3	35.8	0.42	0.83	0.76	1.96	0.07	0.88	0.92
Receivable days	99.88	148.77	90.99	91.16	89	81.64	90.36	100.06	137.75	15.85	13.97
Inventory Days	20.6	40.18	40.62	32.81	32.85	34.45	34.15	57.76	83.14	9.47	8.66
Payable days	108.36	179.5	72.08	28.92	41.98	30.1	23.96	29.33	72.98	65.27	13.35
PER(x)	8.64	11.01	18.44	13.75	164.16	42.9	55.27	13.04	463.29	29.47	24.66
Price/Book(x)	1.88	2.19	4	4.45	0.33	0.32	0.36	0.29	0.25	0.18	0.25
Dividend Yield(%)	5.42	5.45	3.39	2.47	1.6	1.45	0.94	2.43	1.4	2.17	3.8
EV/Net Sales(x)	58.24	121.92	143.41	154.04	249.25	210.35	277.19	147.32	263.52	21.64	22.23
EV/Core EBITDA(x)	7.83	10.51	17.22	13.59	142.18	41.74	52.9	11.7	366.74	24.11	24.66
Net Sales Growth(%)	0.32	-37.62	66.45	29.02	-5.33	45.1	17.59	6.07	-0.63	1170.3	11.47
EBIT Growth(%)	852.51	-2.55	15.04	84.45	-85.8	328	21.23	157.8	-95.28	1804.27	12.1
PAT Growth(%)	852.46	-2.55	15.04	84.45	-87.06	364.96	19.82	147.17	-95.1	1519.5	36.84
EPS Growth(%)	852.46	-2.55	15.04	84.45	-87.06	364.96	19.82	147.17	-95.1	1519.49	36.84
Debt/Equity(x)	0	0	0	0	0	0	0	0	0	0	0
Current Ratio(x)	1.29	1.14	1.17	5.1	9.26	10.23	17.73	16.23	9.31	16.84	5.07
Quick Ratio(x)	1.27	1.13	1.14	5.3	9.13	10.11	17.58	15.95	8.99	16.05	4.56
Interest Cover(x)	0	0	0	0	0	2207.6	0	0	0	0	0
Total Debt/Mcap(x)	0	0	0	0	0	0	0	0	0	0	0

Maharashtra Scooters Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	51	51	51.05	51.05	51	51	51	51	51	51
FII	4.23	3.73	3.61	3.66	3.9	3.93	4.05	4.16	4.39	4.43
DII	3.1	3.67	4.47	4.55	4.54	4.79	4.91	5.16	5.11	5.1
Public	41.67	41.6	40.87	40.74	40.56	40.28	40.04	39.68	39.5	39.47
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.58	0.58	0.58	0.58	0.58	0.58	0.58	0.58	0.58	0.58
FII	0.05	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05
DII	0.04	0.04	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.06
Public	0.48	0.48	0.47	0.47	0.46	0.46	0.46	0.45	0.45	0.45
Others	0	0	0	0	0	0	0	0	0	0
Total	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14

Pros

Stock is trading at 0.3 times its book value
Company has delivered good profit growth of 26% CAGR over last 5 years
Debtor days have improved from 65.27 to 13.35days.
Company is almost debt free.

Cons

Company has a low return on equity of 1% over the last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.