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Mazda Limited
(MAZDA)
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Rating:73Outperform
Price Target:
₹343.00
▲(42.92% Upside)
Action:Reiterated
Date:10/01/26
The score is anchored by strong financial solidity and profitability, but is held back meaningfully by inconsistent cash generation (notably negative operating and free cash flow in 2026). Technicals are supportive with strong trend and momentum, while valuation is only fair with a modest dividend yield.
Positive Factors
Balance Sheet Strength
Near-zero debt and expanding equity and assets give Mazda a durable financial cushion, limiting interest burden and refinancing exposure. This supports resilience through operating volatility and preserves flexibility to fund product development, capital needs, or shareholder returns.
Negative Factors
Inconsistent Cash Conversion
Negative operating and free cash flow in 2026 despite positive net income shows that accounting profitability is not currently translating reliably into cash. Persistent volatility in cash conversion can constrain self-funded investment, reduce predictability of returns, and weaken resilience if it continues.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Near-zero debt and expanding equity and assets give Mazda a durable financial cushion, limiting interest burden and refinancing exposure. This supports resilience through operating volatility and preserves flexibility to fund product development, capital needs, or shareholder returns.
Read all positive factors
Mazda Limited (MAZDA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.85B
Dividend Yield1.38%
Average Volume (3M)9.08K
Price to Earnings (P/E)19.3
Beta (1Y)0.92
Revenue Growth17.43%
EPS Growth11.37%
CountryIN
Employees238
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)14.95
Shares Outstanding20,025,000
10 Day Avg. Volume21,008
30 Day Avg. Volume9,084
Financial Highlights & Ratios
PEG Ratio1.09
Price to Book (P/B)1.29
Price to Sales (P/S)1.52
P/FCF Ratio-13.51
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
Mazda Limited Business Overview & Revenue Model
Company Description
Established in 1990 and headquartered in Ahmedabad, India, Mazda Limited operates as a versatile engineering company, complemented by a Food Division. Its primary Engineering Division offers an extensive portfolio of specialized industrial equipme...
How the Company Makes Money
Mazda’s primary source of revenue is the sale of new vehicles to customers via regional sales subsidiaries, importers, and independent dealerships. It also generates revenue from (1) parts and accessories sales (including replacement parts supplie...
Mazda Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.43B | 2.12B | 1.93B | 2.24B | 1.90B | 1.64B |
| Gross Profit | 698.50M | 631.40M | 542.78M | 1.07B | 491.25M | 786.82M |
| EBITDA | 392.89M | 415.46M | 374.29M | 462.89M | 394.47M | 307.19M |
| Net Income | 299.28M | 275.09M | 248.54M | 315.20M | 266.26M | 212.44M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.15B | 2.65B | 2.40B | 2.24B | 1.92B |
| Cash, Cash Equivalents and Short-Term Investments | 697.42M | 697.42M | 966.52M | 894.83M | 498.51M | 340.69M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 6.30M | 1.56M |
| Total Liabilities | -2.49B | 655.60M | 347.65M | 282.56M | 383.82M | 276.46M |
| Stockholders Equity | 2.49B | 2.49B | 2.30B | 2.12B | 1.86B | 1.64B |
Cash Flow | ||||||
| Free Cash Flow | -63.66M | -238.81M | 65.42M | 401.54M | 189.84M | -74.50M |
| Operating Cash Flow | -34.03M | -196.77M | 105.54M | 430.24M | 235.86M | 83.96M |
| Investing Cash Flow | 95.40M | 241.66M | -88.05M | -302.99M | -146.13M | -49.81M |
| Financing Cash Flow | -76.15M | -72.09M | -64.08M | -64.64M | -56.17M | -60.97M |
Mazda Limited Technical Analysis
Positive
240.00
Price Trends
246.49
Positive
234.97
Positive
218.06
Positive
Market Momentum
12.51
Negative
61.48
Neutral
87.70
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAZDA, the sentiment is Positive. The current price of 240 is below the 20-day moving average (MA) of 271.02, below the 50-day MA of 246.49, and above the 200-day MA of 218.06, indicating a bullish trend. The MACD of 12.51 indicates Negative momentum. The RSI at 61.48 is Neutral, neither overbought nor oversold. The STOCH value of 87.70 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MAZDA.
Mazda Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹5.85B | 19.27 | ― | 1.38% | 17.43% | 11.37% | |
67 Neutral | ₹5.11B | 3.76 | ― | 0.62% | 44.97% | 20.95% | |
63 Neutral | ₹988.31M | 22.41 | ― | 1.33% | -19.72% | -25.61% | |
58 Neutral | ₹3.46B | 98.49 | ― | 1.81% | 52.00% | -53.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹8.73B | 180.09 | ― | 0.62% | 1.00% | 5509.46% |
* General Sector Average
IN:MAZDA
Mazda Limited
291.90
6.71
2.35%
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Mazda Limited Corporate Events
Mazda Sets Record Date for Final Dividend for FY 2025-26
Aug 17, 2026
Mazda Limited has set 4 September 2026 as the record date to determine shareholder eligibility for a proposed final dividend for the 2025-26 financial year, in line with regulatory requirements. The move signals the company’s intention to re...
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.