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Last Updated: April 2, 2026, 3:17 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500266 | NSE: MAHSCOOTER

Maharashtra Scooters Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹5,918.97Overvalued by 47.44%vs CMP ₹11,261.00

P/E (41.4) × ROE (0.6%) × BV (₹28,887.00) × DY (1.42%)

₹7,255.69Overvalued by 35.57%vs CMP ₹11,261.00
MoS: -55.2% (Negative)Confidence: 61/100 (Moderate)Models: 2 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹7,115.0421%Over (-36.8%)
Graham NumberEarnings₹14,272.4615%Under (+26.7%)
Earnings PowerEarnings₹1,464.3810%Over (-87%)
DCFCash Flow₹7,685.2010%Over (-31.8%)
Net Asset ValueAssets₹28,885.737%Under (+156.5%)
EV/EBITDAEnterprise₹1,826.969%Over (-83.8%)
Dividend DiscountDividends₹2,750.009%Over (-75.6%)
Earnings YieldEarnings₹3,134.107%Over (-72.2%)
ROCE CapitalReturns₹120.367%Over (-98.9%)
Revenue MultipleRevenue₹241.495%Over (-97.9%)
Consensus (10 models)₹7,255.69100%Overvalued
Key Drivers: ROE 0.6% is below cost of equity. | Wide model spread (₹120–₹28,886) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 20.2%

*Investments are subject to market risks

Investment Snapshot

67
Maharashtra Scooters Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 0.6% WeakROE 0.6% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.34% (6mo) AccumulatingDII holding down 0.65% MF sellingPromoter holding at 51.0% Stable
Earnings Quality75/100 · Strong
OPM expanding (90% → 93%) ImprovingWorking capital: -35 days (improving) Efficient
Quarterly Momentum100/100 · Strong
Revenue (4Q): +72% YoY AcceleratingProfit (4Q): +120% YoY StrongOPM: 86.3% (up 15.7% YoY) Margin expansion
Industry Rank35/100 · Weak
P/E 41.4 vs industry 171.3 Cheaper than peersROCE 0.6% vs industry 11.4% Below peersROE 0.6% vs industry 25.6% Below peers3Y sales CAGR: -2% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:17 am

Market Cap 12,870 Cr.
Current Price 11,261
Intrinsic Value₹7,255.69
High / Low 18,538/9,225
Stock P/E41.4
Book Value 28,887
Dividend Yield1.42 %
ROCE0.59 %
ROE0.61 %
Face Value 10.0
PEG Ratio2.05

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Maharashtra Scooters Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Maharashtra Scooters Ltd 12,870 Cr. 11,261 18,538/9,22541.4 28,8871.42 %0.59 %0.61 % 10.0
JM Financial Ltd 11,505 Cr. 120 200/78.09.12 1082.24 %9.39 %9.01 % 1.00
IIFL Capital Services Ltd 8,120 Cr. 261 411/17014.1 90.41.15 %33.3 %31.6 % 2.00
Ujjivan Financial Services Ltd 7,179 Cr. 590 /8.75 2990.00 %10.3 %32.1 % 10.0
IIFL Finance Ltd 18,617 Cr. 438 675/30614.5 3050.91 %8.81 %4.90 % 2.00
Industry Average17,128.74 Cr1,145.63171.253,616.520.48%11.38%25.55%6.58

All Competitor Stocks of Maharashtra Scooters Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 7.479.245.26205.926.375.187.72163.175.796.6529.27271.026.44
Expenses 4.117.494.055.615.164.495.742.221.701.901.081.220.88
Operating Profit 3.361.751.21200.311.210.691.98160.954.094.7528.19269.805.56
OPM % 44.98%18.94%23.00%97.28%19.00%13.32%25.65%98.64%70.64%71.43%96.31%99.55%86.34%
Other Income 1.240.060.000.110.700.00-13.230.220.7057.780.000.000.00
Interest 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation 0.510.530.520.520.510.520.520.480.480.480.010.000.01
Profit before tax 4.091.280.69199.901.400.17-11.77160.694.3162.0528.18269.805.55
Tax % 26.41%35.94%30.43%1.09%28.57%41.18%-170.18%5.93%23.43%16.79%-25.48%1.01%25.77%
Net Profit 3.010.820.48197.731.000.108.26151.163.3051.6335.36267.074.12
EPS in Rs 2.630.720.42173.010.870.097.23132.262.8945.1830.94233.693.60

Last Updated: March 3, 2026, 11:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4798829521130194216223184313
Expenses 912151420202020202319125
Operating Profit -5-5-6-6617519111174194203172308
OPM % -115%-72%-72%-69%75%79%90%35%90%90%91%94%98%
Other Income 53631082111300114558
Interest 0000000000000
Depreciation 1311122222220
Profit before tax 48551011461741929172193202215366
Tax % 0%0%0%9%1%2%6%3%17%-1%1%0%
Net Profit 48551011361731809143195199214358
EPS in Rs 41.6547.9188.3711.4453.1663.70157.457.71124.87170.88174.40187.56313.41
Dividend Payout % 60%63%34%262%62%52%32%649%64%94%97%75%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)14.58%83.64%-87.13%369.23%19.67%146.58%-95.00%1488.89%36.36%2.05%7.54%
Change in YoY Net Profit Growth (%)0.00%69.05%-170.77%456.36%-349.56%126.90%-241.58%1583.89%-1452.53%-34.31%5.49%

Maharashtra Scooters Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:39%
5 Years:-3%
3 Years:-2%
TTM:-9%
Compounded Profit Growth
10 Years:14%
5 Years:-1%
3 Years:7%
TTM:-12%
Stock Price CAGR
10 Years:33%
5 Years:41%
3 Years:55%
1 Year:70%
Return on Equity
10 Years:1%
5 Years:1%
3 Years:1%
Last Year:1%

Last Updated: September 5, 2025, 10:15 am

Balance Sheet

Last Updated: December 4, 2025, 1:36 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 11111111111111111111111111
Reserves 2272413016,5418,21411,3128,19916,23222,84219,03127,00530,85133,002
Borrowings 0000000000000
Other Liabilities 6266252018391141,0361,8461,3552,3773,7254,237
Total Liabilities 3003183376,5728,24311,7148,22517,28024,69920,39829,39434,58837,250
Fixed Assets 74771315151413121000
CWIP 0000000000000
Investments 2602712806,5118,19611,6808,08017,18924,65420,36429,36234,56337,020
Other Assets 3343505434201307633222224230
Total Assets 3003183376,5728,24311,7148,22517,28024,69920,39829,39434,58837,250

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -6-10-8-3311-7-6119209206159
Cash from Investing Activity + 154181354045195-68-62-3-1236
Cash from Financing Activity + -26-33-80-2-41-45-113-1-58-205-194-193
Net Cash Flow -17-2-600-075-75-0001
Free Cash Flow -6-10-12-34-5-2-9-6119207206224
CFO/OP 99%180%104%530%3%5%-2%-44%86%119%106%100%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-5.00-5.00-6.00-6.0061.0075.00191.0011.00174.00194.00203.00172.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 11413799951514882191130
Inventory Days 88134421115772163
Days Payable 21427374040899
Cash Conversion Cycle -1324310416633788146191130
Working Capital Days -2,797-2,141-203-4314410331107-35
ROCE %20%20%35%0%1%1%2%0%1%1%1%1%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 51.00%51.00%51.00%51.00%51.00%51.00%51.00%51.00%51.00%51.00%51.00%51.00%
FIIs 3.93%4.06%4.16%4.39%4.42%4.54%4.73%4.89%4.90%5.12%6.21%6.24%
DIIs 4.78%4.89%5.15%5.10%5.08%5.36%5.34%5.27%4.52%4.26%3.85%3.87%
Government 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public 40.29%40.05%39.68%39.50%39.47%39.08%38.94%38.84%39.56%39.60%38.92%38.86%
No. of Shareholders 20,68119,66220,57320,07320,71521,19521,96425,85124,87825,08925,17224,919

Shareholding Pattern Chart

No. of Shareholders

Maharashtra Scooters Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Parag Parikh ELSS Tax Saver Fund 236,280 5.51 317.54235,8162026-02-22 02:17:260.2%
Parag Parikh Flexi Cap Fund 80,552 0.08 108.2580,1592026-02-22 02:17:260.49%
Bajaj Finserv Multi Asset Allocation Fund 7,955 0.65 10.69N/AN/AN/A
Samco Special Opportunities Fund 2,526 2.53 3.39N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 187.60174.40170.88124.877.71
Diluted EPS (Rs.) 187.60174.40170.88124.877.71
Cash EPS (Rs.) 189.25176.19172.65126.599.40
Book Value[Excl.RevalReserv]/Share (Rs.) 27001.6323636.6816662.4219996.2814213.08
Book Value[Incl.RevalReserv]/Share (Rs.) 27001.6323636.6816662.4219996.2814213.08
Dividend / Share (Rs.) 170.00170.00160.0080.0050.00
Revenue From Operations / Share (Rs.) 160.39194.86189.3115.0413.37
PBDIT / Share (Rs.) 151.92178.68170.71152.439.61
PBIT / Share (Rs.) 150.20176.87168.95150.717.91
PBT / Share (Rs.) 188.35176.87168.95150.717.91
Net Profit / Share (Rs.) 187.53174.37170.88124.877.71
PBDIT Margin (%) 94.7191.6990.171013.4271.85
PBIT Margin (%) 93.6490.7689.241001.9859.19
PBT Margin (%) 117.4290.7689.241001.9859.19
Net Profit Margin (%) 116.9289.4890.26830.2357.67
Return on Networth / Equity (%) 0.690.731.020.620.05
Return on Capital Employeed (%) 0.490.680.940.690.05
Return On Assets (%) 0.610.670.950.570.05
Asset Turnover Ratio (%) 0.010.010.010.000.00
Current Ratio (X) 4233.424823.893362.4217.239.31
Quick Ratio (X) 4233.424823.293361.7916.428.99
Inventory Turnover Ratio (X) 100.181.481.371.882.41
Dividend Payout Ratio (NP) (%) 90.6497.48105.3340.040.00
Dividend Payout Ratio (CP) (%) 89.8296.47104.2539.490.00
Earning Retention Ratio (%) 9.362.52-5.3359.960.00
Cash Earning Retention Ratio (%) 10.183.53-4.2560.510.00
Enterprise Value (Cr.) 12832.588167.504810.454200.584026.39
EV / Net Operating Revenue (X) 70.0036.6722.23244.37263.52
EV / EBITDA (X) 73.9039.9924.6624.11366.74
MarketCap / Net Operating Revenue (X) 70.0436.7022.26244.63267.20
Retention Ratios (%) 9.352.51-5.3359.950.00
Price / BV (X) 0.410.300.250.180.25
Price / Net Operating Revenue (X) 70.0436.7022.26244.64267.21
EarningsYield 0.010.020.040.030.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Maharashtra Scooters Ltd. is a Public Limited Listed company incorporated on 11/06/1975 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L35912MH1975PLC018376 and registration number is 018376. Currently Company is involved in the business activities of Activities of holding companies. Company's Total Operating Revenue is Rs. 183.33 Cr. and Equity Capital is Rs. 11.43 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance & InvestmentsC/o. Bajaj Auto Ltd, Mumbai Pune Road, Pune Maharashtra 411035Contact not found
Management
NamePosition Held
Mr. Sanjiv BajajChairman
Mr. Mayur PatwardhanDirector
Mr. Mayur ChokshiDirector
Mrs. Jasmine ChaneyDirector
Mr. V RajagopalanDirector
Mr. S RavikumarDirector

FAQ

What is the intrinsic value of Maharashtra Scooters Ltd and is it undervalued?

As of 17 April 2026, Maharashtra Scooters Ltd's intrinsic value is ₹7255.69, which is 35.57% lower than the current market price of ₹11,261.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (0.61 %), book value (₹28,887), dividend yield (1.42 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Maharashtra Scooters Ltd?

Maharashtra Scooters Ltd is trading at ₹11,261.00 as of 17 April 2026, with a FY2026-2027 high of ₹18,538 and low of ₹9,225. The stock is currently near its 52-week low. Market cap stands at ₹12,870 Cr..

How does Maharashtra Scooters Ltd's P/E ratio compare to its industry?

Maharashtra Scooters Ltd has a P/E ratio of 41.4, which is below the industry average of 171.25. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Maharashtra Scooters Ltd financially healthy?

Key indicators for Maharashtra Scooters Ltd: ROCE of 0.59 % is on the lower side compared to the industry average of 11.38%; ROE of 0.61 % is below ideal levels (industry average: 25.55%). Dividend yield is 1.42 %.

Is Maharashtra Scooters Ltd profitable and how is the profit trend?

Maharashtra Scooters Ltd reported a net profit of ₹214 Cr in Mar 2025 on revenue of ₹184 Cr. Compared to ₹143 Cr in Mar 2022, the net profit shows an improving trend.

Does Maharashtra Scooters Ltd pay dividends?

Maharashtra Scooters Ltd has a dividend yield of 1.42 % at the current price of ₹11,261.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Maharashtra Scooters Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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