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Msafe Equipments (BSE: MSAFE) had a P/E of 18.5× on 6 Nov 2026, above the industry P/E of 17.0×, and the shares are 18% below their 52-week high. It earns ROCE of 30% and ROE of 36%, and sales and net profit grew 52% and 83% a year over 3 years. Debt is 0.38× equity. It is listed on an SME platform with a market cap of ₹548 Cr, ranked 9th of 22 Aluminum companies by market cap; the shares rose 79% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹275.00
Day high
₹275.00
Day low
₹266.00
Prev. close
₹278.75
Volume
28K

Health check

4 good · 2 fair
  • ReturnsAhead

    +78.7% over a year, better than 7 of 7 peers.

  • Price tagIn line

    P/E 18.5 vs industry 17.0.

  • GrowthStrong

    Sales +52.3%, profit +83.2% a year over 3 years.

  • ProfitabilityStrong

    ROCE 30.4% vs peer median 16.4%.

  • Balance sheetFair

    Debt 0.38× equity, interest covered 10.0×, Piotroski 5 of 9.

  • Red flagsNone found

    No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Aluminum

21 listed peers. Screen the industry

Small cap

₹548 Cr, #9 of 22 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹127 Cr · profit ₹28 Cr
Market cap
₹548 Cr
Small cap
P/E
18.5
Industry 17.0
Price to book
4.82
Peers 2.90
Dividend yield
0.00%
ROE
36.3%
Peers 10.3%
ROCE
30.4%
Peers 16.4%
Debt to equity
0.38
Debt ₹44 Cr
EPS (TTM)
₹14.54
OPM (TTM)
30.6%
Net margin 21.7%
Sales growth
+39.9%
Latest quarter vs a year ago
Profit growth
+44.3%
Latest quarter vs a year ago
Price to sales
4.31
EV/EBITDA 10.9

Strengths and risks

Strengths

  • Return on equity of 36.3%.
  • Return on capital employed of 30.4%.
  • Quarterly profit up 44.3% on a year ago.
  • Quarterly sales up 39.9% on a year ago.
  • Net margin of 21.7%.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Msafe Equipments

Msafe Equipments Limited engages in the manufacturing, sales, and rental of access and height-safety solutions in India. The company offers aluminium scaffoldings, mild steel (MS) scaffoldings, aluminium ladders and fibre reinforced plastic (FRP) ladders. It also offers various types of aluminium scaffoldings such as stairway, narrow-width, extra reach, podium, cantilever, and bridge sections. The company serves various industries, such as civil…

Headquarters
Noida
Employees
389
Sector
Basic Materials
ISIN
INE2B5L01011
Website
msafegroup.com

Price range

52 weeks

₹102.00₹328.80

Today

₹266.00₹275.00
Avg volume (3M)
56.5K
1-year return
plus 78.7%
From 52-week high
minus 18.3%

Peers · Aluminum

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
HINDALCOHindalco Industries958.40plus 2.19%2,12,74911.19.49.4%9.0%0.737.1%plus 12.8%
VAMLVedanta Aluminium Metal376.05minus 0.80%1,46,81622.2––41.3%1.05–minus 24.2%
NATIONALUMNational Aluminium Co.325.75minus 1.59%59,8288.46.533.3%43.8%0.007.8%plus 41.9%
CMRGREENCMR Green Technologies218.29plus 2.16%4,78217.813.019.8%4.5%0.8317.4%minus 9.5%
ARFINArfin India94.15minus 1.23%1,58986.433.620.8%6.9%0.764.3%plus 74.7%
BELDINGBelding India820.05minus 2.76%1,187––0.3%−1377.7%0.04−89.7%minus 10.8%
MMPMMP Industries427.35plus 0.66%1,08621.719.412.9%8.4%0.5315.2%plus 50.9%
MSAFEMsafe Equipments268.65minus 3.62%54818.512.230.4%30.6%0.3852.3%plus 78.7%
Median of 7 peers–−0.80%4,78219.713.016.4%8.4%0.737.4%12.8%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Jun 26
22.721.931.8
13.911.418.5
8.810.513.3
38.7%47.8%41.8%
02.50
0.80.80.9
1.42.22.6
–−2.5–
6.77.49.7
24.3%26.5%25.3%
55.57.3
2.47–3.56

Dec 25, Mar 26 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+52.3%
Profit CAGR 3Y
+83.2%
EPS CAGR 3Y
+95.9%
ROE
36.3%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
26.643.364.693.9
–+63.0%+49.2%+45.3%
16.527.638.149.4
10.115.726.644.5
37.9%36.3%41.1%47.4%
−0.1000.4
1.322.73.3
34.56.28.2
−0.8−0.4−0.2−3.4
4.98.817.430
25.3%25.2%25.3%25.2%
3.66.61322.4
–+79.6%+98.6%+72.3%
1.793.216.3813.45

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
11120.4
5.111.624.677.6
20.425.932.638.6
7.19.711.912.4
33.548.270.1149
22.327.840.248.7
–0.80.8–
0.60.6––
0.20.30.543.2
10.418.728.657.1
33.548.270.1149

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
4.56.514.411.5
−13−9.8−18.2−63.5
8.63.5451.6
0.10.10.2−0.4
−13−11.2−21.1−22.8
−8.5−4.8−6.8−11.2

Shareholding pattern

This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.

Major shareholders

BSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you