Mauria Udyog (BSE: MUL) had a P/E of 4.2× on 6 Nov 2026, below the industry P/E of 25.1×, and the shares are 53% below their 52-week high. Its ROCE of 77% is the highest among the 7 largest Metal Fabrication peers, and sales grew 23% a year over 3 years. Debt is 2.46× equity. It is a small-cap company with a market cap of ₹94 Cr, ranked 56th of 71 Metal Fabrication companies by market cap; the shares fell 47% over the past year.
- ₹7.10
- ₹7.30
- ₹6.65
- ₹6.97
- 50.8K
Health check
- ReturnsBehind
−46.7% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 4.2 vs industry 25.1.
- GrowthStrong
Sales +23.0% a year over 3 years.
- ProfitabilityStrong
ROCE 76.6% vs peer median 15.6%.
- Balance sheetStretched
Debt 2.46× equity, interest covered 3.1×, Piotroski 7 of 9.
- Red flags5 to check
Debt is 2.46× equity.
Small cap
Defensive
Key metrics
- Market cap
- ₹94 Cr
- Small cap
- P/E
- 4.2
- Industry 25.1
- Price to book
- 1.70
- Peers 7.00
- Dividend yield
- 0.00%
- ROE
- 54.3%
- Peers 8.6%
- ROCE
- 76.6%
- Peers 15.6%
- Debt to equity
- 2.46
- Debt ₹138 Cr
- EPS (TTM)
- ₹1.67
- OPM (TTM)
- 7.9%
- Net margin 5.6%
- Sales growth
- −18.3%
- Latest quarter vs a year ago
- Profit growth
- −26.8%
- Latest quarter vs a year ago
- Price to sales
- 0.23
- EV/EBITDA 6.6
Strengths and risks
Strengths
- Return on equity of 54.3%.
- Return on capital employed of 76.6%.
- P/E of 4.2 against an industry P/E of 25.1.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Debt is 2.46× equity.
- Quarterly profit down 26.8% on a year ago.
- Quarterly sales down 18.3% on a year ago.
- 53% below its 52-week high.
- Interest coverage of only 2.2×.
About Mauria Udyog
Mauria Udyog Limited manufactures and sells liquefied petroleum gas (LPG) cylinders and related accessories in India. The company offers cylinders, regulators, disposable cylinders, valves, LPG accessories, and terry towels; and LPG cylinder accessories, including cylinder guards, neck rings, burner set, and cooker ring and adopter. Mauria Udyog Limited was incorporated in 1980 and is headquartered in New Delhi, India.
- Headquarters
- New Delhi
- Sector
- Industrials
- ISIN
- INE150D01027
- Website
- mauria.com
Price range
- Avg volume (3M)
- 44.1K
- 1-year return
- minus 46.7%
- From 52-week high
- minus 52.8%
Peers · Metal Fabrication
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BHARATFORGBharat Forge | 1,740.00 | minus 0.74% | 85,029 | 121.8 | 7.23 | 15.6% | 6.7% | 14.7% | 9.7% | 26.9% | 0.49% | plus 32.3% |
| INDOMIMINDO-MIM | 1,219.50 | minus 3.93% | 60,302 | 101.1 | 20.94 | 22.8% | 21.3% | 28.6% | 15.8% | 4.9% | 0.00% | plus 64.4% |
| PTCILPTC Industries | 24,335.00 | plus 0.04% | 38,564 | 290.6 | 23.73 | 7.9% | 8.6% | 24.6% | 40.7% | 57.8% | 0.00% | plus 41.4% |
| ZETWERKZetwerk Manufacturing Businesses | 164.89 | minus 1.10% | 27,937 | – | −2.47 | −13.0% | −36.0% | 0.1% | 56.9% | – | 0.00% | plus 19.3% |
| HAPPYFORGEHappy Forgings | 1,694.50 | minus 10.00% | 15,996 | 49.0 | 7.00 | 18.9% | 15.2% | 30.6% | 9.8% | 13.1% | 0.24% | plus 85.8% |
| RKFORGERamkrishna Forgings | 693.85 | minus 4.25% | 13,087 | 68.4 | 3.51 | 4.7% | 5.6% | 17.1% | 10.5% | −33.9% | 0.58% | plus 35.6% |
| GRAVITAGravita India | 1,493.90 | minus 0.07% | 10,883 | 27.3 | 4.11 | 18.1% | 16.2% | 9.3% | 14.9% | 23.5% | 0.52% | minus 15.4% |
| MULMauria Udyog | 7.03 | plus 0.86% | 94 | 4.2 | 1.70 | 76.6% | 54.3% | 7.9% | 23.0% | – | 0.00% | minus 46.7% |
| Median of 7 peers | – | −1.10% | 27,937 | 84.7 | 7.00 | 15.6% | 8.6% | 17.1% | 14.9% | 18.3% | 0.24% | 35.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 134 | 138 | 81.8 | 70.5 | 109 | |
| 122 | 122 | 75.4 | 69.9 | 101 | |
| 11.5 | 16 | 6.4 | 0.7 | 8.6 | |
| 8.6% | 11.6% | 7.9% | 0.9% | 7.8% | |
| 0.5 | 1.9 | 3.4 | 4.4 | 0.9 | |
| 2.4 | 2 | 1.7 | 1.1 | 1.4 | |
| 0.9 | 1.4 | 1 | 0.7 | 1.1 | |
| 8.8 | 14.6 | 7.1 | 3.2 | 6.9 | |
| 24.5% | 27.5% | 35.9% | 32.9% | 29.1% | |
| 6.6 | 10.6 | 4.5 | 2.2 | 4.9 | |
| 0.50 | 0.80 | 0.34 | 0.16 | 0.37 |
Profit & loss
- Sales CAGR 3Y
- +23.0%
- ROE
- 54.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 214 | 313 | 381 | 399 | |
| – | +45.9% | +21.8% | +4.8% | |
| 189 | 292 | 354 | 364 | |
| 25.6 | 20.6 | 26.8 | 35.1 | |
| 12.0% | 6.6% | 7.0% | 8.8% | |
| 15 | 12.2 | 13.4 | 18.4 | |
| 25.5 | 19.9 | 16.7 | 15.9 | |
| 3 | 3.2 | 3.2 | 3.9 | |
| −15 | 3.9 | 15 | −0 | |
| −2.9 | 13.6 | 35.3 | 33.7 | |
| −215.0% | −22.8% | 48.5% | 29.0% | |
| −9.2 | 16.7 | 18.2 | 24 | |
| – | – | +8.7% | +31.7% | |
| -0.69 | 1.26 | 1.37 | 1.80 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13.3 | 13.3 | 13.3 | 13.3 | |
| 4.1 | 17.5 | 18.9 | 42.8 | |
| 190 | 191 | 150 | 138 | |
| 187 | 243 | 219 | 229 | |
| 394 | 466 | 401 | 424 | |
| 56.7 | 52.9 | 71.8 | 74.1 | |
| 2.5 | 0.4 | 0.2 | 0.5 | |
| 4.1 | 3.7 | 1.8 | 1.5 | |
| 15.2 | 17 | 25.7 | 23.6 | |
| 315 | 391 | 302 | 324 | |
| 394 | 466 | 401 | 424 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 153 | 35.2 | 101 | 38.1 | |
| −6.5 | −24.3 | −31.9 | −6.4 | |
| −147 | −7.6 | −68.5 | −33.4 | |
| −0.5 | 3.3 | 0.2 | −1.7 | |
| −7.7 | −60.7 | −34.2 | −5.9 | |
| 145 | −25.5 | 66.4 | 32.2 |
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
Filings & events
News
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