Mazda (MAZDA) had a P/E of 19.9× on 6 Nov 2026, below the industry P/E of 33.8×, and the shares are 13% below their 52-week high. Sales and net profit grew 3.5% and 1.1% a year over 3 years; its ROCE of 14% is the second-lowest among the 7 largest Specialty Industrial Machinery peers. Its dividend yield is 1.3%. It is a small-cap company with a market cap of ₹595 Cr, ranked 78th of 138 Specialty Industrial Machinery companies by market cap; the shares rose 14% over the past year.
- ₹308.00
- ₹314.05
- ₹293.60
- ₹311.50
- 44.6K
Health check
- ReturnsIn line
+14.2% over a year, better than 4 of 7 peers.
- Price tagCheaper
P/E 19.9 vs industry 33.8.
- GrowthSlow
Sales +3.5%, profit +1.1% a year over 3 years.
- ProfitabilityWeak
ROCE 14.1% vs peer median 24.8%.
- Balance sheetStretched
Piotroski 3 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹595 Cr
- Small cap
- P/E
- 19.9
- Industry 33.8
- Price to book
- 2.38
- Peers 9.16
- Dividend yield
- 1.32%
- ROE
- 11.5%
- Peers 19.1%
- ROCE
- 14.1%
- Peers 24.8%
- Debt to equity
- n/a
- Debt ₹0.00 Cr
- EPS (TTM)
- ₹14.95
- Face value ₹2
- OPM (TTM)
- 15.9%
- Net margin 12.3%
- Sales growth
- +61.9%
- Latest quarter vs a year ago
- Profit growth
- +49.2%
- Latest quarter vs a year ago
- Price to sales
- 2.45
- EV/EBITDA 13.9
Strengths and risks
Strengths
- Quarterly profit up 49.2% on a year ago.
- Quarterly sales up 61.9% on a year ago.
- P/E of 19.9 against an industry P/E of 33.8.
About Mazda
Mazda Limited manufactures and sells engineering goods in India and internationally. The company operates in two segments, Engineering Products and Food Products. It offers vacuum systems, including steam jet boosters and ejectors; steam jet air ejector systems; combination vacuum systems of steam jet ejectors, liquid ring vacuum pumps, and liquid jet ejectors; thermo compressors; liquid and air jet ejectors; vapour and gas jet ejectors/systems; steam and…
- Headquarters
- Ahmedabad
- Employees
- 238
- Sector
- Industrials
- ISIN
- INE885E01042
- Website
- mazdalimited.com
Price range
- Avg volume (3M)
- 46.1K
- 1-year return
- plus 14.2%
- From 52-week high
- minus 13.5%
Peers · Specialty Industrial Machinery
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHELBharat Heavy Electricals | 418.80 | plus 0.17% | 1,45,829 | 50.6 | 74.6 | 6.6% | 10.1% | 0.22 | 13.5% | plus 56.4% |
| ABBABB India | 6,774.00 | plus 2.20% | 1,43,547 | 92.3 | 68.2 | 28.5% | 13.8% | 0.02 | 15.4% | plus 26.4% |
| SIEMENSSiemens | 3,560.00 | plus 3.73% | 1,26,779 | 86.1 | 59.3 | 16.5% | 10.4% | 0.02 | 3.0% | plus 10.0% |
| CUMMINSINDCummins India | 4,048.80 | minus 0.25% | 1,12,233 | 49.8 | 41.7 | 35.0% | 19.1% | 0.00 | 16.1% | minus 6.0% |
| GVT&DGE Vernova T&D India | 4,018.00 | minus 3.06% | 1,02,879 | 71.3 | 56.6 | 58.5% | 26.5% | 0.01 | 31.1% | plus 31.7% |
| SUZLONSuzlon Energy | 38.80 | plus 0.54% | 53,337 | 23.7 | 17.3 | 24.8% | 16.7% | 0.07 | 41.4% | minus 35.7% |
| AIAENGAIA Engineering | 3,113.60 | minus 2.77% | 29,056 | 23.5 | 19.6 | 19.9% | 27.4% | 0.00 | −3.4% | minus 3.9% |
| MAZDAMazda | 296.90 | minus 4.69% | 595 | 19.9 | 15.6 | 14.1% | 15.9% | – | 3.5% | plus 14.2% |
| Median of 7 peers | – | 0.17% | 1,12,233 | 50.6 | 56.6 | 24.8% | 16.7% | 0.02 | 15.4% | 10.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 49.6 | 50.8 | 47.4 | 64.2 | 80.3 | |
| 46.4 | 40.4 | 36.6 | 54.2 | 73 | |
| 3.2 | 10.5 | 10.8 | 10 | 7.3 | |
| 6.5% | 20.6% | 22.8% | 15.6% | 9.1% | |
| 4.3 | 0.8 | 1.8 | 0.1 | 3.6 | |
| 0.2 | 0.3 | 0.3 | 0.3 | 0.2 | |
| 1 | 1 | 1.1 | 1.1 | 1.1 | |
| 6.3 | 10 | 11.3 | 8.7 | 9.6 | |
| 22.3% | 24.1% | 22.7% | 28.1% | 23.7% | |
| 4.9 | 7.6 | 8.7 | 6.3 | 7.3 | |
| 2.45 | 3.79 | 4.36 | 3.14 | 3.66 |
Profit & loss
- Sales CAGR 3Y
- +3.5%
- Profit CAGR 3Y
- +1.1%
- EPS CAGR 3Y
- +1.1%
- ROE
- 11.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 190 | 225 | 192 | 210 | |
| – | +18.9% | minus 14.8% | +9.5% | |
| 152 | 183 | 162 | 176 | |
| 38 | 42.4 | 30.2 | 34.5 | |
| 20.0% | 18.8% | 15.7% | 16.4% | |
| 0.1 | 0.2 | 0.4 | 1.2 | |
| 0 | 0 | 0 | – | |
| 3.2 | 4 | 3.9 | 4.2 | |
| 0.8 | 3.2 | 6.3 | 4.8 | |
| 35.7 | 41.8 | 33 | 36.4 | |
| 25.5% | 24.6% | 24.7% | 24.3% | |
| 26.6 | 31.5 | 24.9 | 27.5 | |
| – | +18.4% | minus 21.1% | +10.7% | |
| 13.30 | 15.74 | 12.41 | 13.74 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4 | 4 | 4 | 4 | |
| 182 | 208 | 226 | 245 | |
| 0.6 | – | – | – | |
| 37.8 | 28.3 | 34.8 | 65.6 | |
| 224 | 240 | 265 | 315 | |
| 73.1 | 71.5 | 71.7 | 71.6 | |
| 0.5 | 0 | 1.2 | 0.2 | |
| 1.5 | 2.3 | 3.8 | 2.4 | |
| 49.6 | 89.5 | 96.7 | 69.5 | |
| 99.6 | 77.2 | 91.4 | 171 | |
| 224 | 240 | 265 | 315 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 23.6 | 43 | 11.1 | −18.8 | |
| −14.6 | −30.3 | −8.8 | 24.3 | |
| −5.6 | −6.5 | −6.9 | −8.2 | |
| 3.4 | 6.3 | −4.7 | −2.7 | |
| −4.6 | −2.9 | −4 | −4.2 | |
| 19 | 40.2 | 7.1 | −23 | |
| −4.8 | −5.6 | −6.4 | −7.2 |
Shareholding pattern
- Promoters48.71%
- Public51.29%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 48.71% | 51.29% | plus 0.04 | |
| 30 Jun 2026 | 48.67% | 51.33% | plus 0.09 | |
| 31 Mar 2026 | 48.58% | 51.42% | 0.00 | |
| 31 Dec 2025 | 48.58% | 51.42% | 0.00 | |
| 30 Sep 2025 | 48.58% | 51.42% | – |
Major shareholders
Filings & events
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