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Last Updated: April 2, 2026, 3:18 am
Author: Getaka|Social: XLinkedIn

Maithan Alloys Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,491.62Undervalued by 66.66%vs CMP ₹895.00

P/E (5.9) × ROE (22.0%) × BV (₹1,416.00) × DY (1.79%)

₹1,473.08Undervalued by 64.59%vs CMP ₹895.00
MoS: +39.2% (Strong)Confidence: 58/100 (Moderate)Models: 7 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,319.4622%Under (+47.4%)
Graham NumberEarnings₹2,202.0716%Under (+146%)
Earnings PowerEarnings₹1,267.0611%Under (+41.6%)
DCFCash Flow₹1,381.7913%Under (+54.4%)
Net Asset ValueAssets₹1,416.007%Under (+58.2%)
EV/EBITDAEnterprise₹402.519%Over (-55%)
Earnings YieldEarnings₹1,522.007%Under (+70.1%)
ROCE CapitalReturns₹2,518.729%Under (+181.4%)
Revenue MultipleRevenue₹618.885%Over (-30.9%)
Consensus (9 models)₹1,473.08100%Undervalued
Key Drivers: Wide model spread (₹403–₹2,519) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -11.5%

*Investments are subject to market risks

Investment Snapshot

60
Maithan Alloys Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 28.0% ExcellentROE 22.0% ExcellentD/E 0.02 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.12% (6mo) Slight increasePromoter holding at 75.0% Stable
Earnings Quality30/100 · Weak
OPM contracting (28% → 9%) DecliningWorking capital: 497 days Capital intensive
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +14% YoY GrowingProfit (4Q): -45% YoY DecliningOPM: 11.0% (up 5.0% YoY) Margin expansion
Industry Rank55/100 · Moderate
P/E 5.9 vs industry 43.3 Cheaper than peersROCE 28.0% vs industry 24.6% Average3Y sales CAGR: -16% 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, 3:18 am

Market Cap 2,606 Cr.
Current Price 895
Intrinsic Value₹1,473.08
High / Low 1,265/831
Stock P/E5.88
Book Value 1,416
Dividend Yield1.79 %
ROCE28.0 %
ROE22.0 %
Face Value 10.0
PEG Ratio-0.51

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

View Share Price Target for Maithan Alloys Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Maithan Alloys Ltd 2,606 Cr. 895 1,265/8315.88 1,4161.79 %28.0 %22.0 % 10.0
Nagpur Power & Industries Ltd 190 Cr. 145 174/80.2106 70.20.00 %3.37 %0.86 % 10.0
Indian Metals & Ferro Alloys Ltd 6,646 Cr. 1,232 1,511/55018.0 4651.62 %21.3 %17.0 % 10.0
Facor Alloys Ltd 40.1 Cr. 2.05 4.44/1.81 5.150.00 %2.63 %3.58 % 1.00
Chrome Silicon Ltd 71.3 Cr. 43.5 58.0/37.2 12.10.00 %86.6 %124 % 10.0
Industry Average3,147.33 Cr331.8243.29287.530.49%24.60%28.86%7.43

All Competitor Stocks of Maithan Alloys Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 685535404444448433375464531435632491490
Expenses 639445363411413427354415502359567459435
Operating Profit 4690413235721492976653255
OPM % 7%17%10%7%8%2%6%11%6%18%10%7%11%
Other Income 514344607917456117997-116649-15376
Interest 010001256812144
Depreciation 5555555666666
Profit before tax 921268087108175576217114-54696-141122
Tax % 21%22%25%28%21%19%21%34%21%7%23%-16%24%
Net Profit 739860628514245614390-58538-11993
EPS in Rs 25.0033.7120.4721.2829.3148.81156.8249.4131.20-20.96184.17-41.5530.54

Last Updated: February 5, 2026, 2:32 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 9571,1031,1461,3371,8731,9791,8161,6152,9892,8831,7261,8022,049
Expenses 9049891,0151,0641,4891,6541,5811,3211,9132,2931,6111,6231,819
Operating Profit 531141322733843252352941,075589116179229
OPM % 6%10%11%20%21%16%13%18%36%20%7%10%11%
Other Income 3148152666242772358721454
Interest 2122171288633532438
Depreciation 23272325151616161720212324
Profit before tax 1266962443763272792991,082637450852622
Tax % 9%21%18%26%22%22%20%23%24%22%22%26%
Net Profit 115379180292255222230818499349631453
EPS in Rs 3.9118.0827.0961.72100.2487.6776.2779.29281.01171.43119.87216.47152.20
Dividend Payout % 26%6%7%4%3%7%8%8%2%4%5%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)381.82%49.06%127.85%62.22%-12.67%-12.94%3.60%255.65%-39.00%-30.06%80.80%
Change in YoY Net Profit Growth (%)0.00%-332.76%78.79%-65.63%-74.89%-0.27%16.54%252.05%-294.65%8.94%110.86%

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

No data available for the compounded sales growth chart.

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 15152929292929292929292929
Reserves 2623083645568391,0831,2631,4922,2942,7753,1133,7174,094
Borrowings 25821413981457104952030588444
Other Liabilities 254246266236303399213328422316296514695
Total Liabilities 7887837999021,2151,5191,5161,8982,7513,1403,4684,8495,262
Fixed Assets 293280267242238229217203276267253312312
CWIP 51000010025411
Investments 3836367034362867958248701,7883,0563,348
Other Assets 4524664965906356621,2929001,6512,0001,3731,4791,602
Total Assets 7887837999021,2151,5191,5161,8982,7513,1403,4684,8495,262

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -458136126284315-45117237968-40950
Cash from Investing Activity + -22-4-11-11-280-276696-761-105-962369-591
Cash from Financing Activity + 26-65-101-74-49-54-4337-62-5-9522
Net Cash Flow 1-112441-44-15609-607701-49-19
Free Cash Flow -2748125122273308-49116141962-46520
CFO/OP 2%59%104%56%97%121%2%60%47%188%-290%59%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-205.00-100.00-7.00192.00339.00318.00225.00245.00-4.00569.0086.00-409.00

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 546863624747569984548229
Inventory Days 1371099210993859515121481141393
Days Payable 747781405580268063403548
Cash Conversion Cycle 1179974130855212517023694188374
Working Capital Days 2032395544378511213163206497
ROCE %7%17%21%42%49%33%20%20%56%26%12%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.98%74.98%74.98%74.98%74.99%74.99%74.99%74.99%74.96%74.96%74.96%74.96%
FIIs 1.52%1.82%1.88%2.14%1.87%1.80%1.33%1.32%1.12%1.39%1.41%1.24%
DIIs 0.55%0.56%0.52%0.44%0.15%0.41%0.45%0.31%0.20%0.17%0.07%0.06%
Public 22.96%22.62%22.63%22.42%23.00%22.80%23.24%23.39%23.71%23.48%23.56%23.74%
No. of Shareholders 34,86133,39832,41233,21036,47534,60038,17739,41841,06739,50139,69640,319

Shareholding Pattern Chart

No. of Shareholders

Maithan Alloys 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
Motilal Oswal Nifty Microcap 250 Index Fund 8,055 0.15 0.888,0552025-04-22 15:56:550%
Groww Nifty Total Market Index Fund 20 0.01 0202025-04-22 17:25:270%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 216.47119.87171.41281.0079.02
Diluted EPS (Rs.) 216.47119.87171.41281.0079.02
Cash EPS (Rs.) 224.73127.01178.36286.8284.39
Book Value[Excl.RevalReserv]/Share (Rs.) 1286.871079.32963.33798.27522.62
Book Value[Incl.RevalReserv]/Share (Rs.) 1286.871079.32963.33798.27522.62
Revenue From Operations / Share (Rs.) 620.27593.83991.051027.98556.43
PBDIT / Share (Rs.) 308.26162.12261.48377.99108.65
PBIT / Share (Rs.) 300.26154.98254.54372.18103.28
PBT / Share (Rs.) 292.83154.42218.76371.79102.87
Net Profit / Share (Rs.) 216.73119.88171.41281.0279.02
NP After MI And SOA / Share (Rs.) 216.48119.88171.44281.0279.30
PBDIT Margin (%) 49.6927.3026.3836.7619.52
PBIT Margin (%) 48.4026.0925.6836.2018.56
PBT Margin (%) 47.2126.0022.0736.1618.48
Net Profit Margin (%) 34.9420.1817.2927.3314.20
NP After MI And SOA Margin (%) 34.9020.1817.2927.3314.25
Return on Networth / Equity (%) 16.8211.1017.7935.2115.17
Return on Capital Employeed (%) 21.8414.0226.0245.9619.27
Return On Assets (%) 12.9910.0615.8929.7312.16
Total Debt / Equity (X) 0.150.000.000.000.02
Asset Turnover Ratio (%) 0.430.520.971.320.94
Current Ratio (X) 3.9712.069.496.074.88
Quick Ratio (X) 2.6910.678.454.353.85
Inventory Turnover Ratio (X) 2.522.822.512.022.30
Dividend Payout Ratio (NP) (%) 4.155.003.502.130.00
Dividend Payout Ratio (CP) (%) 4.004.723.362.090.00
Earning Retention Ratio (%) 95.8595.0096.5097.870.00
Cash Earning Retention Ratio (%) 96.0095.2896.6497.910.00
Interest Coverage Ratio (X) 41.47289.53339.81965.19263.57
Interest Coverage Ratio (Post Tax) (X) 30.15215.09269.26718.58192.69
Enterprise Value (Cr.) 3092.182798.581199.883764.841584.57
EV / Net Operating Revenue (X) 1.711.620.411.260.97
EV / EBITDA (X) 3.455.931.583.425.01
MarketCap / Net Operating Revenue (X) 1.421.650.801.290.96
Retention Ratios (%) 95.8494.9996.4997.860.00
Price / BV (X) 0.680.900.821.661.03
Price / Net Operating Revenue (X) 1.421.650.801.290.96
EarningsYield 0.240.120.210.210.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Maithan Alloys Ltd. is a Public Limited Listed company incorporated on 19/09/1985 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L27101WB1985PLC039503 and registration number is 039503. Currently Company is involved in the business activities of Manufacture of ferro-alloys. Company's Total Operating Revenue is Rs. 1819.65 Cr. and Equity Capital is Rs. 29.11 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Ferro AlloysIdeal Centre, 4th Floor, Kolkata West Bengal 700017Contact not found
Management
NamePosition Held
Mr. S C AgarwallaChairman & Managing Director
Mr. Subodh AgarwallaWholeTime Director & CEO
Mr. Naresh Kumar JainDirector
Mr. Vivek KaulDirector
Mr. P K VenkatramaniDirector
Mr. Srinivas PeddiDirector
Mrs. Sonal ChoubeyDirector
Mr. Aayush KhetawatIndependent Director

FAQ

What is the intrinsic value of Maithan Alloys Ltd and is it undervalued?

As of 14 April 2026, Maithan Alloys Ltd's intrinsic value is ₹1473.08, which is 64.59% higher than the current market price of ₹895.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (22.0 %), book value (₹1,416), dividend yield (1.79 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Maithan Alloys Ltd?

Maithan Alloys Ltd is trading at ₹895.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,265 and low of ₹831. The stock is currently near its 52-week low. Market cap stands at ₹2,606 Cr..

How does Maithan Alloys Ltd's P/E ratio compare to its industry?

Maithan Alloys Ltd has a P/E ratio of 5.88, which is below the industry average of 43.29. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Maithan Alloys Ltd financially healthy?

Key indicators for Maithan Alloys Ltd: ROCE of 28.0 % indicates efficient capital utilization; ROE of 22.0 % shows strong shareholder returns. Dividend yield is 1.79 %.

Is Maithan Alloys Ltd profitable and how is the profit trend?

Maithan Alloys Ltd reported a net profit of ₹631 Cr in Mar 2025 on revenue of ₹1,802 Cr. Compared to ₹818 Cr in Mar 2022, the net profit shows a declining trend.

Does Maithan Alloys Ltd pay dividends?

Maithan Alloys Ltd has a dividend yield of 1.79 % at the current price of ₹895.00. 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 Maithan Alloys 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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