On 6 Nov 2026, Maithan Alloys was priced at ₹822.95, or 8.2× trailing earnings, against an industry P/E of 19.9×, and the shares are 32% below their 52-week high. Sales and net profit fell 9.1% and 4.6% a year over 3 years, with ROCE of 15% and ROE of 11%. It carries very little debt, and its dividend yield is 2.0%. It is a small-cap company with a market cap of ₹2,526 Cr, ranked 40th of 150 Steel companies by market cap; the shares fell 23% over the past year.
- ₹842.00
- ₹842.00
- ₹813.45
- ₹842.45
- 23.7K
Health check
- ReturnsBehind
−23.4% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 8.2 vs industry 19.9.
- GrowthShrinking
Sales −9.1%, profit −4.6% a year over 3 years.
- ProfitabilityAverage
ROCE 14.9% vs peer median 18.7%.
- Balance sheetSolid
Debt 0.06× equity, interest covered 14.7×, Piotroski 6 of 9.
- Red flags3 to check
Quarterly profit down 26.7% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,526 Cr
- Small cap
- P/E
- 8.2
- Industry 19.9
- Price to book
- 0.58
- Peers 2.28
- Dividend yield
- 2.02%
- ROE
- 11.0%
- Peers 23.4%
- ROCE
- 14.9%
- Peers 18.7%
- Debt to equity
- 0.06
- Debt ₹237 Cr
- EPS (TTM)
- ₹99.80
- Face value ₹10
- OPM (TTM)
- 13.7%
- Net margin 14.0%
- Sales growth
- −14.7%
- Latest quarter vs a year ago
- Profit growth
- −26.7%
- Latest quarter vs a year ago
- Price to sales
- 1.21
- EV/EBITDA 3.1
Strengths and risks
Strengths
- Practically debt-free.
- Dividend yield of 2.02%.
- P/E of 8.2 against an industry P/E of 19.9.
Risks to check
- Quarterly profit down 26.7% on a year ago.
- Quarterly sales down 14.7% on a year ago.
- 32% below its 52-week high.
About Maithan Alloys
Maithan Alloys Limited manufactures and exports ferro alloys. The company provides ferro manganese, silico manganese, and ferro silicon products. It is also involved in the generation and supply of wind power. In addition, the company offers manufacturing and trading of metals and/or minerals and real estate businesses; processing of powder and lump; generation of electricity; manufacturing of specialized parts for railways, tramways, locomotives or of…
- Headquarters
- Kolkata
- Employees
- 492
- Sector
- Basic Materials
- ISIN
- INE683C01011
- Website
- maithanalloys.com
Price range
- Avg volume (3M)
- 79.6K
- 1-year return
- minus 23.4%
- From 52-week high
- minus 32.0%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| MAITHANALLMaithan Alloys | 822.95 | minus 2.31% | 2,526 | 8.2 | 3.4 | 14.9% | 15.8% | 0.06 | −9.1% | minus 23.4% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 632 | 491 | 490 | 559 | 540 | |
| 567 | 459 | 435 | 453 | 449 | |
| 65.4 | 32.1 | 55.4 | 106 | 90.8 | |
| 10.3% | 6.5% | 11.3% | 19.0% | 16.8% | |
| 12.9 | −153 | 75.5 | −159 | 20.5 | |
| 12.4 | 14 | 3.7 | 14 | 4.6 | |
| 5.9 | 5.9 | 5.8 | 5.6 | 5.6 | |
| 636 | – | – | – | 397 | |
| 696 | −141 | 122 | −72.3 | 498 | |
| 22.7% | 15.7% | 23.7% | 2.3% | 20.5% | |
| 536 | −121 | 88.9 | −70.4 | 393 | |
| 184.17 | -41.55 | 30.55 | -24.21 | 135.01 |
Profit & loss
- Sales CAGR 3Y
- −9.1%
- Profit CAGR 3Y
- −4.6%
- EPS CAGR 3Y
- −4.6%
- ROE
- 11.0%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,840 | 1,698 | 1,775 | 2,135 | |
| – | minus 40.2% | +4.6% | +20.3% | |
| 2,250 | 1,581 | 1,595 | 1,834 | |
| 591 | 117 | 180 | 301 | |
| 20.8% | 6.9% | 10.1% | 14.1% | |
| 77.7 | 80.7 | 71.9 | 74.7 | |
| 2.2 | 1.6 | 21.6 | 44.1 | |
| 20.2 | 20.8 | 23.3 | 23.2 | |
| −9 | 275 | 646 | 296 | |
| 637 | 450 | 852 | 604 | |
| 21.6% | 22.4% | 26.0% | 27.0% | |
| 499 | 349 | 630 | 434 | |
| – | minus 30.1% | +80.6% | minus 31.2% | |
| 171.43 | 119.87 | 216.47 | 148.96 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 29.1 | 29.1 | 29.1 | 29.1 | |
| 2,775 | 3,113 | 3,717 | 4,117 | |
| 11.4 | 17.2 | 580 | 233 | |
| 324 | 309 | 523 | 515 | |
| 3,140 | 3,468 | 4,849 | 4,894 | |
| 254 | 293 | 320 | 295 | |
| 3.8 | 57 | 23.7 | 6.8 | |
| 5.5 | 60.1 | 1,079 | 1,189 | |
| 1,968 | 1,805 | 2,027 | 1,737 | |
| 908 | 1,253 | 1,400 | 1,666 | |
| 3,140 | 3,468 | 4,849 | 4,894 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 968 | −409 | 49.8 | −9.9 | |
| −962 | 369 | −591 | 481 | |
| −5.1 | −8.7 | 522 | −434 | |
| 1.1 | −48.7 | −19 | 37.2 | |
| −11 | −69 | −30.2 | −24.9 | |
| 957 | −478 | 19.6 | −34.8 | |
| −17.5 | −17.5 | −26.2 | −38 |
Shareholding pattern
- Promoters74.96%
- Public25.04%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 74.96% | 25.04% | 0.00 | |
| 30 Jun 2026 | 74.96% | 25.04% | 0.00 | |
| 31 Mar 2026 | 74.96% | 25.04% | 0.00 | |
| 31 Dec 2025 | 74.96% | 25.04% | 0.00 | |
| 30 Sep 2025 | 74.96% | 25.04% | – |
Major shareholders
Filings & events
News
No recent news coverage found.