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Maithan Alloys Limited

Maithan Alloys Limited

MAITHANALL.BO
Maithan Alloys LimitedIN flagBombay Stock Exchange
1,068.50
INR
+15.50
- -
31.11BMarket Cap
Maithan Alloys Limited
MAITHANALL.BO
(Bombay Stock Exchange)

Recent

price

1,068.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
204.19
205.57
327.06
330.54
380.09
395.31
447.55
615.22
646.68
593.77
541.99
1,002.03
975.66
583.2
620.24
746.29
746.49
Revenue per Share
0.01
15.01
15.24
3.91
18.07
27.08
61.72
100.24
87.67
76.27
79.29
281.01
171.43
119.87
216.47
148.96
149
Basic EPS, GAAP
19.86
-24.76
-19.63
-9.39
16.39
42.66
41.41
93.76
105.55
-17.01
39.91
41.15
332.45
-140.42
17.1
-3.39
- -
Free Cash Flow per Basic Share
0.58
1.16
1.16
1.17
1.17
4.81
- -
3.01
3.62
14.47
- -
6
6
6
9
13.05
- -
Dividend per Share
7.89
5
86.6
87.8
99.37
127.18
188.89
286.16
370.21
431.99
511.39
786.44
923.45
1,037.52
1,245.06
10
10
Book Value per Share
74.44
86.59
91.82
94.84
110.56
138.95
201.15
298.27
382.31
443.88
522.43
792.49
957.88
1,073.88
1,284.21
1,422.74
1,423.13
Tangible Book Value per Share
29
29
29
29
29
29
29
29
29
29
29
29
29
29
29
29
29
Basic Weighted Avg Shares
5,944
5,984
9,521
9,623
11,065
11,508
13,029
17,910
18,826
17,286
15,778
29,171
28,403
16,978
18,056
21,726
21,726
Sales/Revenue/Turnover
0.04
9.52
6.88
3.21
8.05
9.41
19.18
19.51
14.64
10.73
17.28
35.49
20.08
5.65
8.49
10.86
10.86
Operating Margin (%)
103
95
185
228
269
233
253
154
156
158
156
169
202
208
233
232
232
Depreciation Expense
- -
437
444
114
526
788
1,797
2,918
2,552
2,220
2,308
8,181
4,991
3,490
6,302
4,336
4,336
Net Income, GAAP
- -
25.36
18.5
8.84
20.76
17.7
26.35
22.39
21.92
20.5
23.19
24.41
21.64
22.37
25.99
26.98
26.98
Effective Tax Rate (%)
0.01
7.3
4.66
1.18
4.76
6.85
13.79
16.29
13.56
12.84
14.63
28.04
17.57
20.55
34.9
19.96
19.96
Profit Margin (%)
1,115
1,251
1,382
1,292
1,590
2,000
3,533
6,199
8,691
10,649
13,119
19,956
24,899
27,792
25,191
27,972
27,972
Working Capital
858
1,660
1,668
1,543
1,213
854
197
37
36
36
35
34
33
32
31
60
60
LT Debt
2,197
2,563
2,716
2,805
3,261
4,074
5,857
8,684
11,131
12,928
15,213
23,238
28,052
31,429
37,552
41,585
41,585
Total Equity
- -
11.11
11.43
5.73
13.97
16.88
29.82
33.79
21.02
12.12
14.38
39.67
17.19
2.46
3.01
3.93
3.81
Return on Invested Capital (%)
- -
24.35
12.76
6
13.8
18.07
32.57
39.08
26.47
19.12
16.58
42.74
20.05
12.2
17.8
20.41
119.93
Return on Capital (%)
0.13
232.97
33.28
4.49
19.31
23.91
39.06
42.2
26.71
19.01
16.81
43.3
20.05
12.23
18.97
23.74
1,489.69
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
4,334
- -
2,312
LT Borrowings
88
- -
41
LT Finance Leases
19
- -
18
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
29
- -
29
Market Capitalization
32,082
29,688
24,286

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
35,946
- -
33,314
Cash, Cash Equivalents & STI
22,290
- -
18,454
Accounts Receivable, Net
2,394
- -
1,305
Inventories
10,657
- -
12,465
Total Current Liabilities
8,037
- -
5,342
Payables & Accruals
- -
- -
- -
ST Debt
4,334
- -
2,312
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
26.98%
23.15%
10.74%
Free Cash Flow
2.21%
67.37%
-119.81%
Net Income, GAAP
40.34%
46.94%
-31.19%
Sales/Revenue/Turnover
10.76%
13.74%
20.32%
Total Cash Common Dividend
- -
- -
45.04%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,037
4,436
4,481
4,024
16,978
2025
3,751
4,642
5,311
4,352
18,056
2026
6,323
4,908
4,903
5,592
21,726

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
20.49
21.3
29.32
- -
119.87
2025
156.82
49.41
31.2
-20.96
216.47
2026
184.17
-41.55
30.55
-24.21
148.96

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
6
2025
- -
- -
- -
- -
9
2026
- -
- -
- -
- -
13.05
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Business
Maithan Alloys Limited manufactures and exports bulk ferroalloys, including ferro manganese, silico manganese, and ferro silicon; the company also generates wind power and operates captive power plants to support its operations. Founded in 1985 and headquartered in Kolkata, West Bengal, India, Maithan Alloys maintains manufacturing facilities in Kalyaneshwari near Asansol (West Bengal), Ri-Bhoi (Meghalaya), and Vishakhapatnam (Andhra Pradesh) through its subsidiary, with proximity to key ports including Haldia, Vizag, and Gangavaram for efficient domestic and international exports to Western and Asian markets. The company serves steel manufacturers and traders, such as Steel Authority of India Limited, holding over 5% market share in India's manganese-based ferroalloys sector. Recent developments include the activation and commencement of production at its subsidiary Maithan Ferrous Private Limited's new ferro alloy plant with two 16.5 MVA submerged arc furnaces in Bankura, West Bengal, in September 2024; incorporation of wholly-owned subsidiaries Maithan Fresh Pvt. Ltd. in June 2025 and Maithan Nutrition Pvt. Ltd. in July 2025; and approval for a new NBFC subsidiary in November 2025. Maithan Alloys completed the acquisition of an 80% stake in Goldtree Impex Private Limited for ₹0.02 crore in May 2025 to explore opportunities in metal, mining, and real estate sectors, alongside multiple equity investments including stakes in NBCC (India) Ltd., State Bank of India, Gail India Ltd., and Power Finance Corporation Ltd. throughout 2024-2025; the company also sold capital assets of its Byrnihat unit for ₹25.48 crore and managed periodic production adjustments at various units amid market conditions.