Maharashtra Scooters Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 25, 2025, 9:54 pm

Market Cap	13,296 Cr.
Current Price	11,637
High / Low	12,847/7,310
Stock P/E	77.5
Book Value	27,005
Dividend Yield	1.46 %
ROCE	0.59 %
ROE	0.59 %
Face Value	10.0
PEG Ratio	0.98

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for Maharashtra Scooters Ltd

Competitors of Maharashtra Scooters Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
My Money Securities Ltd	39.3 Cr.	23.4	69.2/0.00	3.77	18.5	0.00 %	12.0 %	11.3 %	10.0
Nam Securities Ltd	45.0 Cr.	83.5	198/83.5	161	21.2	0.00 %	4.16 %	3.05 %	10.0
ICDS Ltd	53.8 Cr.	41.0	76.2/32.5	61.2	22.2	0.00 %	9.12 %	7.69 %	10.0
HCKK Ventures Ltd	58.1 Cr.	156	165/77.4	276	11.6	0.00 %	8.17 %	6.44 %	10.0
Ujjivan Financial Services Ltd	7,179 Cr.	590	593/552	8.75	299	0.59 %	10.3 %	32.1 %	10.0
Industry Average	17,186.76 Cr	1,632.59		39.89	4,260.64	0.42%	9.06%	11.25%	7.41

All Competitor Stocks of Maharashtra Scooters Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	10.47	10.37	7.25	192.39	7.47	9.24	5.26	205.92	6.37	5.18	7.72	163.17	5.79
Expenses	5.78	7.69	4.72	6.33	4.11	7.49	4.05	5.61	5.16	4.49	5.74	2.22	1.70
Operating Profit	4.69	2.68	2.53	186.06	3.36	1.75	1.21	200.31	1.21	0.69	1.98	160.95	4.09
OPM %	44.79%	25.84%	34.90%	96.71%	44.98%	18.94%	23.00%	97.28%	19.00%	13.32%	25.65%	98.64%	70.64%
Other Income	0.25	0.04	0.06	0.04	1.24	0.06	0.00	0.11	0.70	0.00	-13.23	0.22	0.70
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.49	0.49	0.49	0.49	0.51	0.53	0.52	0.52	0.51	0.52	0.52	0.48	0.48
Profit before tax	4.45	2.23	2.10	185.61	4.09	1.28	0.69	199.90	1.40	0.17	-11.77	160.69	4.31
Tax %	25.84%	29.60%	31.90%	-2.38%	26.41%	35.94%	30.43%	1.09%	28.57%	41.18%	-170.18%	5.93%	23.43%
Net Profit	3.30	1.57	1.43	190.03	3.01	0.82	0.48	197.73	1.00	0.10	8.26	151.16	3.30
EPS in Rs	2.89	1.37	1.25	166.28	2.63	0.72	0.42	173.01	0.87	0.09	7.23	132.26	2.89

Last Updated: February 28, 2025, 6:36 pm

Below is a detailed analysis of the quarterly data for Maharashtra Scooters Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is 5.79 Cr.. The value appears to be declining and may need further review. It has decreased from 163.17 Cr. (Sep 2024) to 5.79 Cr., marking a decrease of 157.38 Cr..
For Expenses, as of Dec 2024, the value is 1.70 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 2.22 Cr. (Sep 2024) to 1.70 Cr., marking a decrease of 0.52 Cr..
For Operating Profit, as of Dec 2024, the value is 4.09 Cr.. The value appears to be declining and may need further review. It has decreased from 160.95 Cr. (Sep 2024) to 4.09 Cr., marking a decrease of 156.86 Cr..
For OPM %, as of Dec 2024, the value is 70.64%. The value appears to be declining and may need further review. It has decreased from 98.64% (Sep 2024) to 70.64%, marking a decrease of 28.00%.
For Other Income, as of Dec 2024, the value is 0.70 Cr.. The value appears strong and on an upward trend. It has increased from 0.22 Cr. (Sep 2024) to 0.70 Cr., marking an increase of 0.48 Cr..
For Interest, as of Dec 2024, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 0.00 Cr..
For Depreciation, as of Dec 2024, the value is 0.48 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 0.48 Cr..
For Profit before tax, as of Dec 2024, the value is 4.31 Cr.. The value appears to be declining and may need further review. It has decreased from 160.69 Cr. (Sep 2024) to 4.31 Cr., marking a decrease of 156.38 Cr..
For Tax %, as of Dec 2024, the value is 23.43%. The value appears to be increasing, which may not be favorable. It has increased from 5.93% (Sep 2024) to 23.43%, marking an increase of 17.50%.
For Net Profit, as of Dec 2024, the value is 3.30 Cr.. The value appears to be declining and may need further review. It has decreased from 151.16 Cr. (Sep 2024) to 3.30 Cr., marking a decrease of 147.86 Cr..
For EPS in Rs, as of Dec 2024, the value is 2.89. The value appears to be declining and may need further review. It has decreased from 132.26 (Sep 2024) to 2.89, marking a decrease of 129.37.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 7, 2025, 7:36 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	7	4	7	9	8	82	95	211	30	194	216	223	182
Expenses	10	9	12	15	14	20	20	20	20	20	23	19	14
Operating Profit	-3	-5	-5	-6	-6	61	75	191	11	174	194	203	168
OPM %	-50%	-115%	-72%	-72%	-69%	75%	79%	90%	35%	90%	90%	91%	92%
Other Income	53	53	63	108	21	1	1	3	0	0	1	1	-12
Interest	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	0
Depreciation	1	1	3	1	1	1	2	2	2	2	2	2	2
Profit before tax	49	48	55	101	14	61	74	192	9	172	193	202	153
Tax %	-0%	-0%	-0%	-0%	9%	1%	2%	6%	3%	17%	-1%	1%
Net Profit	49	48	55	101	13	61	73	180	9	143	195	199	163
EPS in Rs	42.73	41.65	47.91	88.37	11.44	53.16	63.70	157.45	7.71	124.87	170.88	174.40	142.47
Dividend Payout %	47%	60%	63%	34%	262%	62%	52%	32%	649%	64%	94%	97%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-2.04%	14.58%	83.64%	-87.13%	369.23%	19.67%	146.58%	-95.00%	1488.89%	36.36%	2.05%
Change in YoY Net Profit Growth (%)	0.00%	16.62%	69.05%	-170.77%	456.36%	-349.56%	126.90%	-241.58%	1583.89%	-1452.53%	-34.31%

Maharashtra Scooters Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	39%
5 Years:	-3%
3 Years:	-2%
TTM:	-18%

Compounded Profit Growth
10 Years:	13%
5 Years:	-1%
3 Years:	6%
TTM:	-14%

Stock Price CAGR
10 Years:	30%
5 Years:	42%
3 Years:	43%
1 Year:	47%

Return on Equity
10 Years:	1%
5 Years:	1%
3 Years:	1%
Last Year:	1%

Last Updated: Unknown

Balance Sheet

Last Updated: February 12, 2025, 3:19 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	11	11	11	11	11	11	11	11	11	11	11	11	11
Reserves	213	227	241	301	6,541	8,214	11,312	8,199	16,232	22,842	19,031	27,005	30,725
Borrowings	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Liabilities	58	62	66	25	20	18	391	14	1,036	1,846	1,355	2,377	3,858
Total Liabilities	283	300	318	337	6,572	8,243	11,714	8,225	17,280	24,699	20,398	29,394	34,595
Fixed Assets	7	7	4	7	7	13	15	15	14	13	12	10	9
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	223	260	271	280	6,511	8,196	11,680	8,080	17,189	24,654	20,364	29,362	34,422
Other Assets	52	33	43	50	54	34	20	130	76	33	22	22	163
Total Assets	283	300	318	337	6,572	8,243	11,714	8,225	17,280	24,699	20,398	29,394	34,595

Below is a detailed analysis of the balance sheet data for Maharashtra Scooters Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹11.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 11.00 Cr..
For Reserves, as of Sep 2024, the value is ₹30,725.00 Cr.. The value appears strong and on an upward trend. It has increased from 27,005.00 Cr. (Mar 2024) to ₹30,725.00 Cr., marking an increase of 3,720.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹0.00 Cr.. The value remains steady. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. There is no change compared to the previous period (Mar 2024) which recorded 0.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹3,858.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,377.00 Cr. (Mar 2024) to ₹3,858.00 Cr., marking an increase of 1,481.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹34,595.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 29,394.00 Cr. (Mar 2024) to ₹34,595.00 Cr., marking an increase of 5,201.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹9.00 Cr.. The value appears to be declining and may need further review. It has decreased from 10.00 Cr. (Mar 2024) to ₹9.00 Cr., marking a decrease of 1.00 Cr..
For CWIP, as of Sep 2024, the value is ₹0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 0.00 Cr..
For Investments, as of Sep 2024, the value is ₹34,422.00 Cr.. The value appears strong and on an upward trend. It has increased from 29,362.00 Cr. (Mar 2024) to ₹34,422.00 Cr., marking an increase of 5,060.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹163.00 Cr.. The value appears strong and on an upward trend. It has increased from 22.00 Cr. (Mar 2024) to ₹163.00 Cr., marking an increase of 141.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹34,595.00 Cr.. The value appears strong and on an upward trend. It has increased from 29,394.00 Cr. (Mar 2024) to ₹34,595.00 Cr., marking an increase of 5,201.00 Cr..

Notably, the Reserves (30,725.00 Cr.) exceed the Borrowings (0.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-6	-10	-8	-33	1	1	-7	-6	119	209	206	159
Cash from Investing Activity +	15	41	81	35	40	45	195	-68	-62	-3	-12	36
Cash from Financing Activity +	-26	-33	-80	-2	-41	-45	-113	-1	-58	-205	-194	-193
Net Cash Flow	-17	-2	-6	0	0	-0	75	-75	-0	0	0	1

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-3.00	-5.00	-5.00	-6.00	-6.00	61.00	75.00	191.00	11.00	174.00	194.00	203.00

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	138	114	137	99	95	15	14	8	82	19	11	3
Inventory Days	75	88	134	42	111	57	72		163
Days Payable	100	214	27	37	40	40	8		99
Cash Conversion Cycle	113	-13	243	104	166	33	78	8	146	19	11	3
Working Capital Days	-1,232	-2,797	-2,141	-203	-43	1	4	4	103	31	10	7
ROCE %	21%	20%	20%	35%	0%	1%	1%	2%	0%	1%	1%	1%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	51.00%	51.05%	51.05%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%	51.00%
FIIs	3.73%	3.61%	3.66%	3.90%	3.93%	4.06%	4.16%	4.39%	4.42%	4.54%	4.73%	4.89%
DIIs	3.67%	4.47%	4.53%	4.53%	4.78%	4.89%	5.15%	5.10%	5.08%	5.36%	5.34%	5.27%
Government	0.00%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Public	41.60%	40.87%	40.74%	40.55%	40.29%	40.05%	39.68%	39.50%	39.47%	39.08%	38.94%	38.84%
No. of Shareholders	22,914	22,616	21,701	21,187	20,681	19,662	20,573	20,073	20,715	21,195	21,964	25,851

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Parag Parikh ELSS Tax Saver Fund	153,586	5.19	121.17	153,586	2025-04-22 15:56:56	0%
Parag Parikh Flexi Cap Fund	80,159	0.13	63.24	80,159	2025-04-22 17:25:27	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	174.40	170.88	124.87	7.71	157.45
Diluted EPS (Rs.)	174.40	170.88	124.87	7.71	157.45
Cash EPS (Rs.)	176.19	172.65	126.59	9.40	159.04
Book Value[Excl.RevalReserv]/Share (Rs.)	23636.68	16662.42	19996.28	14213.08	7184.41
Book Value[Incl.RevalReserv]/Share (Rs.)	23636.68	16662.42	19996.28	14213.08	7184.41
Dividend / Share (Rs.)	170.00	160.00	80.00	50.00	50.00
Revenue From Operations / Share (Rs.)	194.86	189.31	15.04	13.37	13.45
PBDIT / Share (Rs.)	178.68	170.71	152.43	9.61	169.41
PBIT / Share (Rs.)	176.87	168.95	150.71	7.91	167.82
PBT / Share (Rs.)	176.87	168.95	150.71	7.91	167.82
Net Profit / Share (Rs.)	174.37	170.88	124.87	7.71	157.45
PBDIT Margin (%)	91.69	90.17	1013.42	71.85	1259.24
PBIT Margin (%)	90.76	89.24	1001.98	59.19	1247.43
PBT Margin (%)	90.76	89.24	1001.98	59.19	1247.43
Net Profit Margin (%)	89.48	90.26	830.23	57.67	1170.32
Return on Networth / Equity (%)	0.73	1.02	0.62	0.05	2.19
Return on Capital Employeed (%)	0.68	0.94	0.69	0.05	2.33
Return On Assets (%)	0.67	0.95	0.57	0.05	2.18
Asset Turnover Ratio (%)	0.01	0.01	0.00	0.00	0.00
Current Ratio (X)	4823.89	3362.42	17.23	9.31	16.23
Quick Ratio (X)	4823.29	3361.79	16.42	8.99	15.95
Inventory Turnover Ratio (X)	1.48	1.37	1.88	2.41	3.86
Dividend Payout Ratio (NP) (%)	97.48	105.33	40.04	0.00	52.71
Dividend Payout Ratio (CP) (%)	96.47	104.25	39.49	0.00	52.18
Earning Retention Ratio (%)	2.52	-5.33	59.96	0.00	47.29
Cash Earning Retention Ratio (%)	3.53	-4.25	60.51	0.00	47.82
Enterprise Value (Cr.)	8167.50	4810.45	4200.58	4026.39	2265.18
EV / Net Operating Revenue (X)	36.67	22.23	244.37	263.52	147.32
EV / EBITDA (X)	39.99	24.66	24.11	366.74	11.70
MarketCap / Net Operating Revenue (X)	36.70	22.26	244.63	267.20	152.65
Retention Ratios (%)	2.51	-5.33	59.95	0.00	47.28
Price / BV (X)	0.30	0.25	0.18	0.25	0.28
Price / Net Operating Revenue (X)	36.70	22.26	244.64	267.21	152.66
EarningsYield	0.02	0.04	0.03	0.00	0.07

After reviewing the key financial ratios for Maharashtra Scooters Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 24, the value is 174.40. This value is within the healthy range. It has increased from 170.88 (Mar 23) to 174.40, marking an increase of 3.52.
For Diluted EPS (Rs.), as of Mar 24, the value is 174.40. This value is within the healthy range. It has increased from 170.88 (Mar 23) to 174.40, marking an increase of 3.52.
For Cash EPS (Rs.), as of Mar 24, the value is 176.19. This value is within the healthy range. It has increased from 172.65 (Mar 23) to 176.19, marking an increase of 3.54.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 23,636.68. It has increased from 16,662.42 (Mar 23) to 23,636.68, marking an increase of 6,974.26.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 23,636.68. It has increased from 16,662.42 (Mar 23) to 23,636.68, marking an increase of 6,974.26.
For Dividend / Share (Rs.), as of Mar 24, the value is 170.00. This value exceeds the healthy maximum of 3. It has increased from 160.00 (Mar 23) to 170.00, marking an increase of 10.00.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 194.86. It has increased from 189.31 (Mar 23) to 194.86, marking an increase of 5.55.
For PBDIT / Share (Rs.), as of Mar 24, the value is 178.68. This value is within the healthy range. It has increased from 170.71 (Mar 23) to 178.68, marking an increase of 7.97.
For PBIT / Share (Rs.), as of Mar 24, the value is 176.87. This value is within the healthy range. It has increased from 168.95 (Mar 23) to 176.87, marking an increase of 7.92.
For PBT / Share (Rs.), as of Mar 24, the value is 176.87. This value is within the healthy range. It has increased from 168.95 (Mar 23) to 176.87, marking an increase of 7.92.
For Net Profit / Share (Rs.), as of Mar 24, the value is 174.37. This value is within the healthy range. It has increased from 170.88 (Mar 23) to 174.37, marking an increase of 3.49.
For PBDIT Margin (%), as of Mar 24, the value is 91.69. This value is within the healthy range. It has increased from 90.17 (Mar 23) to 91.69, marking an increase of 1.52.
For PBIT Margin (%), as of Mar 24, the value is 90.76. This value exceeds the healthy maximum of 20. It has increased from 89.24 (Mar 23) to 90.76, marking an increase of 1.52.
For PBT Margin (%), as of Mar 24, the value is 90.76. This value is within the healthy range. It has increased from 89.24 (Mar 23) to 90.76, marking an increase of 1.52.
For Net Profit Margin (%), as of Mar 24, the value is 89.48. This value exceeds the healthy maximum of 10. It has decreased from 90.26 (Mar 23) to 89.48, marking a decrease of 0.78.
For Return on Networth / Equity (%), as of Mar 24, the value is 0.73. This value is below the healthy minimum of 15. It has decreased from 1.02 (Mar 23) to 0.73, marking a decrease of 0.29.
For Return on Capital Employeed (%), as of Mar 24, the value is 0.68. This value is below the healthy minimum of 10. It has decreased from 0.94 (Mar 23) to 0.68, marking a decrease of 0.26.
For Return On Assets (%), as of Mar 24, the value is 0.67. This value is below the healthy minimum of 5. It has decreased from 0.95 (Mar 23) to 0.67, marking a decrease of 0.28.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.01. There is no change compared to the previous period (Mar 23) which recorded 0.01.
For Current Ratio (X), as of Mar 24, the value is 4,823.89. This value exceeds the healthy maximum of 3. It has increased from 3,362.42 (Mar 23) to 4,823.89, marking an increase of 1,461.47.
For Quick Ratio (X), as of Mar 24, the value is 4,823.29. This value exceeds the healthy maximum of 2. It has increased from 3,361.79 (Mar 23) to 4,823.29, marking an increase of 1,461.50.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 1.48. This value is below the healthy minimum of 4. It has increased from 1.37 (Mar 23) to 1.48, marking an increase of 0.11.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 97.48. This value exceeds the healthy maximum of 50. It has decreased from 105.33 (Mar 23) to 97.48, marking a decrease of 7.85.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 96.47. This value exceeds the healthy maximum of 50. It has decreased from 104.25 (Mar 23) to 96.47, marking a decrease of 7.78.
For Earning Retention Ratio (%), as of Mar 24, the value is 2.52. This value is below the healthy minimum of 40. It has increased from -5.33 (Mar 23) to 2.52, marking an increase of 7.85.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 3.53. This value is below the healthy minimum of 40. It has increased from -4.25 (Mar 23) to 3.53, marking an increase of 7.78.
For Enterprise Value (Cr.), as of Mar 24, the value is 8,167.50. It has increased from 4,810.45 (Mar 23) to 8,167.50, marking an increase of 3,357.05.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 36.67. This value exceeds the healthy maximum of 3. It has increased from 22.23 (Mar 23) to 36.67, marking an increase of 14.44.
For EV / EBITDA (X), as of Mar 24, the value is 39.99. This value exceeds the healthy maximum of 15. It has increased from 24.66 (Mar 23) to 39.99, marking an increase of 15.33.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 36.70. This value exceeds the healthy maximum of 3. It has increased from 22.26 (Mar 23) to 36.70, marking an increase of 14.44.
For Retention Ratios (%), as of Mar 24, the value is 2.51. This value is below the healthy minimum of 30. It has increased from -5.33 (Mar 23) to 2.51, marking an increase of 7.84.
For Price / BV (X), as of Mar 24, the value is 0.30. This value is below the healthy minimum of 1. It has increased from 0.25 (Mar 23) to 0.30, marking an increase of 0.05.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 36.70. This value exceeds the healthy maximum of 3. It has increased from 22.26 (Mar 23) to 36.70, marking an increase of 14.44.
For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. It has decreased from 0.04 (Mar 23) to 0.02, marking a decrease of 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Maharashtra Scooters Ltd as of April 25, 2025 is: 10,022.65

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 25, 2025, Maharashtra Scooters Ltd is Overvalued by 13.87% compared to the current share price 11,637.00

Intrinsic Value of Maharashtra Scooters Ltd as of April 25, 2025 is: 17,960.42

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 25, 2025, Maharashtra Scooters Ltd is Undervalued by 54.34% compared to the current share price 11,637.00

Last 5 Year EPS CAGR: 79.20%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a low average Working Capital Days of -7.58, which is a positive sign. The company has higher reserves (11,621.77 cr) compared to borrowings (0.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (97.54 cr) and profit (101.77 cr) over the years.	The stock has a low average ROCE of 8.58%, which may not be favorable. The stock has a high average Cash Conversion Cycle of 75.92, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Maharashtra Scooters Ltd:
1. Net Profit Margin: 89.48%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 0.68% (Industry Average ROCE: 9.06%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 0.73% (Industry Average ROE: 11.25%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 0
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 4823.29
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 77.5 (Industry average Stock P/E: 38.41)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

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.

INDUSTRY	ADDRESS	CONTACT
Finance & Investments	C/o. Bajaj Auto Ltd, Pune Maharashtra 411035	investors@msls.co.in http://www.mahascooters.com

Management
Name	Position Held
Mr. Sanjiv Bajaj	Chairman
Mr. Anish Amin	Director
Mrs. Lila Poonawalla	Director
Mr. Naresh Patni	Director
Mr. V Rajagopalan	Director
Mr. Yogesh Shah	Director

FAQ

What is the intrinsic value of Maharashtra Scooters Ltd?

Maharashtra Scooters Ltd's intrinsic value (as of 25 April 2025) is ₹10022.65 — 13.87% lower the current market price of 11,637.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 13,296 Cr. market cap, FY2025-2026 high/low of ₹12,847/7,310, reserves of 30,725 Cr, and liabilities of 34,595 Cr.

What is the Market Cap of Maharashtra Scooters Ltd?

The Market Cap of Maharashtra Scooters Ltd is 13,296 Cr..

What is the current Stock Price of Maharashtra Scooters Ltd as on 25 April 2025?

The current stock price of Maharashtra Scooters Ltd as on 25 April 2025 is 11,637.

What is the High / Low of Maharashtra Scooters Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Maharashtra Scooters Ltd stocks is ₹12,847/7,310.

What is the Stock P/E of Maharashtra Scooters Ltd?

The Stock P/E of Maharashtra Scooters Ltd is 77.5.

What is the Book Value of Maharashtra Scooters Ltd?

The Book Value of Maharashtra Scooters Ltd is 27,005.

What is the Dividend Yield of Maharashtra Scooters Ltd?

The Dividend Yield of Maharashtra Scooters Ltd is 1.46 %.

What is the ROCE of Maharashtra Scooters Ltd?

The ROCE of Maharashtra Scooters Ltd is 0.59 %.

What is the ROE of Maharashtra Scooters Ltd?

The ROE of Maharashtra Scooters Ltd is 0.59 %.

What is the Face Value of Maharashtra Scooters Ltd?

The Face Value of Maharashtra Scooters Ltd is 10.0.