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Mahamaya Steel Industries Ltd.
(MAHASTEEL)
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Rating:58Neutral
Price Target:
₹1,233.00
▲(19.98% Upside)
Action:Reiterated
Date:08/28/26
The score is driven primarily by strong revenue growth and a generally manageable balance sheet, offset by weak and volatile cash-flow conversion and very thin margins. Technically, the trend is strong but appears overextended, and the very high P/E weighs heavily on the overall attractiveness.
Positive Factors
Strong Revenue Growth
The sustained expansion in revenue, including a sharp 2026 acceleration, indicates growing sales scale across the company’s steel operations. Continued top-line growth can improve operating leverage, strengthen market reach, and provide a broader base for future earnings growth if margins remain controlled.
Negative Factors
Thin Profit Margins
Very thin net margins leave limited room to absorb changes in steel realizations, input costs, or operating expenses. Even strong revenue growth may therefore produce only modest profit gains, while a relatively small deterioration in operating conditions could materially weaken earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Growth
The sustained expansion in revenue, including a sharp 2026 acceleration, indicates growing sales scale across the company’s steel operations. Continued top-line growth can improve operating leverage, strengthen market reach, and provide a broader base for future earnings growth if margins remain controlled.
Read all positive factors
Mahamaya Steel Industries Ltd. (MAHASTEEL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹19.86B
Dividend YieldN/A
Average Volume (3M)557.00
Price to Earnings (P/E)194.5
Beta (1Y)0.17
Revenue Growth18.26%
EPS Growth18.04%
CountryIN
Employees908
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)6.08
Shares Outstanding16,434,400
10 Day Avg. Volume421
30 Day Avg. Volume557
Financial Highlights & Ratios
PEG Ratio6.16
Price to Book (P/B)9.83
Price to Sales (P/S)1.77
P/FCF Ratio-197.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mahamaya Steel Industries Ltd. Business Overview & Revenue Model
Company Description
Mahamaya Steel Industries Limited, headquartered in Raipur, India, specializes in the production and distribution of structural steel products across the Indian market. Its extensive product line encompasses angles, H-beams, joists, channels, bill...
How the Company Makes Money
MAHASTEEL makes money primarily by selling steel products it manufactures to customers in domestic and potentially export markets. Revenue is generated from (1) sales of finished steel products (the core operating revenue stream), with pricing and...
Mahamaya Steel Industries Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
72
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 9.43B | 8.83B | 8.02B | 7.82B | 6.50B | 4.93B |
| Gross Profit | 1.48B | 1.52B | 1.50B | 309.60M | 184.87M | 287.21M |
| EBITDA | 237.58M | 236.55M | 218.06M | 205.90M | 165.13M | 172.27M |
| Net Income | 99.91M | 95.99M | 76.01M | 67.17M | 54.43M | 48.96M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.70B | 2.44B | 2.33B | 2.25B | 2.05B |
| Cash, Cash Equivalents and Short-Term Investments | 1.20M | 3.19M | 18.47M | 16.07M | 4.66M | 170.65M |
| Total Debt | 0.00 | 580.42M | 460.32M | 408.43M | 432.16M | 452.91M |
| Total Liabilities | -1.59B | 1.12B | 951.20M | 918.61M | 904.53M | 765.00M |
| Stockholders Equity | 1.59B | 1.59B | 1.49B | 1.41B | 1.34B | 1.29B |
Cash Flow | ||||||
| Free Cash Flow | -88.05M | -79.08M | -3.35M | 51.48M | -94.40M | 390.84M |
| Operating Cash Flow | -36.62M | 26.56M | 88.46M | 142.79M | 17.71M | 440.14M |
| Investing Cash Flow | -98.67M | -153.05M | -108.21M | -56.30M | -112.39M | -50.58M |
| Financing Cash Flow | 132.19M | 120.10M | 13.04M | -75.18M | -52.78M | -262.62M |
Mahamaya Steel Industries Ltd. Technical Analysis
Positive
1027.70
Price Trends
1132.95
Positive
991.21
Positive
923.88
Positive
Market Momentum
9.71
Positive
50.98
Neutral
69.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAHASTEEL, the sentiment is Positive. The current price of 1027.7 is below the 20-day moving average (MA) of 1238.64, below the 50-day MA of 1132.95, and above the 200-day MA of 923.88, indicating a neutral trend. The MACD of 9.71 indicates Positive momentum. The RSI at 50.98 is Neutral, neither overbought nor oversold. The STOCH value of 69.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MAHASTEEL.
Mahamaya Steel Industries Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹605.59B | 47.80 | ― | 0.40% | 9.64% | 53.35% | |
65 Neutral | ₹190.77B | 42.41 | ― | 0.38% | -16.30% | -24.14% | |
58 Neutral | ₹19.86B | 194.49 | ― | ― | 18.26% | 18.04% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
51 Neutral | ₹7.46B | 19.74 | ― | ― | ― | ― | |
47 Neutral | ₹631.75M | 100.28 | ― | 0.39% | 19.54% | -60.99% | |
42 Neutral | ₹7.48B | 53.53 | ― | 0.17% | -1.84% | -43.02% |
* General Sector Average
IN:MAHASTEEL
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Mahamaya Steel Industries Ltd. Corporate Events
Mahamaya Steel Boosts Borrowing Limits and Sets New Auditor Ahead of AGM
Aug 31, 2026
Mahamaya Steel Industries Ltd.’s board has recommended appointing M/s. Chopra A J Associates as statutory auditors for a five-year term and reappointing independent director Ms. Vanitha Rangaiah for a second term, reinforcing its governance...
Mahamaya Steel Sets September 25, 2026 for 38th AGM via Video Conferencing
Aug 31, 2026
Mahamaya Steel Industries Ltd. has scheduled its 38th Annual General Meeting for September 25, 2026 at 12:00 p.m., to be conducted via video conferencing and other audio-visual means. The company has set September 18, 2026 as the cut-off date for ...
Mahamaya Steel Board Ups Borrowing Limits, Confirms New Auditor and AGM Date
Aug 31, 2026
Mahamaya Steel Industries Ltd. has approved a series of board decisions, including the appointment of M/s Chopra A J Associates as statutory auditors for a five-year term and the reappointment of independent director Ms. Vanitha Rangaiah for a se...
Mahamaya Steel Board Clears Higher Borrowing Limits and Governance Changes Ahead of AGM
Aug 31, 2026
Mahamaya Steel Industries Ltd. has announced several governance and financial decisions following a board meeting held on August 31, 2026, including the recommendation to appoint M/s. Chopra A J Associates as statutory auditors for a five-year te...
Mahamaya Steel Schedules 38th AGM via Virtual Platform, Publishes Notice in Key Dailies
Aug 24, 2026
Mahamaya Steel Industries Ltd. has announced that its 38th Annual General Meeting will be held on 25 September 2026 at 12:00 p.m. via video conferencing and other audio-visual means, in line with regulatory provisions for listed companies. The com...
Mahamaya Steel Sets Board Meeting to Finalize 38th AGM and E-Voting Oversight
Aug 19, 2026
Mahamaya Steel Industries Ltd. has scheduled a meeting of its Board of Directors for August 22, 2026, at its registered office in Raipur to finalize key administrative matters for the financial year 2025-26. The board will decide the date of the c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.