Is Maharashtra Scooters a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Maharashtra Scooters Ltd is a below average quality company .

Is Maharashtra Scooters undervalued or overvalued?

The key valuation ratios of Maharashtra Scooters Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone .

What is Maharashtra Scooters share price return in the past 10 years?

Maharashtra Scooters Ltd share price has appreciated 25.6% annually (CAGR) over the past ten years.

Is Maharashtra Scooters a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Maharashtra Scooters Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Maharashtra Scooters Ltd - Stock Valuation and Financial Performance

Name: Maharashtra Scooters
Brand: Maharashtra Scooters

BSE: 500266 | NSE: MAHSCOOTER | Auto Ancillary | Small Cap

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Maharashtra Scooters Share Price

₹9,307.70 -650.75 -6.53%
as on 21-Nov'24 16:59

10 Year X-Ray of Maharashtra Scooters:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	22.3%	35.8%	0.4%	0.8%	0.8%	2%	0.1%	0.9%	0.9%	0.9%	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	7	9	8.5	12.3	14.5	15.4	15.3	194	216	223	182
Sales YoY Gr.	-	28.9%	-5.2%	45.1%	17.6%	6.1%	-0.7%	1,170.2%	11.5%	3%	-
Adj EPS ⓘ	44.8	86.9	11.4	52.8	63.2	157.2	7.6	124.9	170.9	174.4	140.5
YoY Gr.	-	93.8%	-86.8%	361.4%	19.7%	148.8%	-95.2%	1540.9%	36.9%	2.1%	-
BVPS (₹) ⓘ	220.7	273	5,733.4	7,197.1	9,907.8	7,184.4	14,213.1	19,996.3	16,660.4	23,636.7	26,894.4
Adj Net Profit ⓘ	51.2	99.3	13.1	60.3	72.2	180	8.7	143	195	199	161
Cash Flow from Ops. ⓘ	-10.1	-8	-33.3	0.7	0.7	-7	-5.7	119	209	206	-
Debt/CF from Ops. ⓘ	0	0	0	0	0	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	47%	72.7%	144.3%	3%
Adj EPS ⓘ	16.3%	22.5%	184.1%	2.1%
BVPSⓘ	68.1%	19%	18.5%	41.9%
Share Price	25.6%	14.3%	28.9%	16.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	20.9	35.2	0.4	0.8	0.7	1.8	0.1	0.7	0.9	0.9	0.6
Op. Profit Mgn % ⓘ	-72.4	-71.6	-69	-62.1	-37.8	-33.2	-31.4	89.6	89.5	91.3	90.4
Net Profit Mgn % ⓘ	736.4	1106.2	153.9	489.3	498.1	1168.1	57	73.5	90.3	89.5	88
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	0
Working Cap Days ⓘ	1,129	1,338	1,344	689	442	343	419	45	38	27	1,32,358
Cash Conv. Cycle ⓘ	114	115	110	105	115	147	192	2	17	10	1,32,313

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 144.28%

Net Profit is growing at healthy rate in last 3 years 184.05%

Return on Equity has declined versus last 3 years average to 0.60%

Sales growth is not so good in last 4 quarters at -8.17%

Latest Financials - Maharashtra Scooters Ltd.

	Standalone	Consolidated
TTM EPS (₹)	140.5	-
TTM Sales (₹ Cr.)	182	-
BVPS (₹.) ⓘ	26,894.4	-
Reserves (₹ Cr.) ⓘ	30,725	-
P/BV ⓘ	0.37	-
PE ⓘ	70.90	-

From the Market
52 Week Low / High (₹)	6702.00 / 12847.45
All Time Low / High (₹)	15.50 / 12847.45
Market Cap (₹ Cr.)	11,381
Equity (₹ Cr.)	11.4
Face Value (₹)	10
Industry PE ⓘ	51.1

Management X-Ray of Maharashtra Scooters:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Maharashtra Scooters

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Maharashtra Scooters

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	7	9	8	12	14	15	15	194	216	223
Operating Expenses ⓘ	12	15	14	20	20	20	20	20	23	19
Manufacturing Costs	2	2	2	3	2	2	2	2	3	3
Material Costs	3	5	4	8	8	8	8	8	10	5
Employee Cost	6	8	8	8	8	9	8	8	8	8
Other Costs ⓘ	1	1	1	1	2	2	2	2	2	3
Operating Profit ⓘ	-5	-6	-6	-8	-6	-5	-5	174	194	203
Operating Profit Margin (%)	-72.6%	-71.8%	-69.1%	-62.6%	-38.0%	-33.3%	-31.5%	89.6%	89.5%	91.3%
Other Income ⓘ	63	108	21	70	81	199	16	0	1	1
Interest ⓘ	0	0	0	0	0	0	0	0	0	0
Depreciation ⓘ	3	1	1	1	2	2	2	2	2	2
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	55	101	14	61	74	192	9	172	193	202
Tax ⓘ	0	0	1	1	2	12	0	30	-2	3
Profit After Tax	55	101	13	61	73	180	9	143	195	199
PAT Margin (%)	787.2%	1,125.4%	153.8%	492.9%	502.2%	1,170.3%	57.7%	73.5%	90.3%	89.5%
Adjusted EPS (₹)	47.9	88.4	11.4	53.2	63.7	157.5	7.7	124.9	170.9	174.4
Dividend Payout Ratio (%)	63%	34%	262%	62%	52%	32%	648%	64%	94%	97%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	252	312	6,552	8,225	11,323	8,211	16,244	22,853	19,043	27,017
Share Capital ⓘ	11	11	11	11	11	11	11	11	11	11
Reserves ⓘ	241	301	6,541	8,214	11,312	8,199	16,232	22,842	19,031	27,005
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	0	0	0	0	0	0	0	0	0	0
Long Term Debt	0	0	0	0	0	0	0	0	0	0
Short Term Debt	0	0	0	0	0	0	0	0	0	0
Trade Payables	0	0	0	1	0	1	2	1	0	0
Others Liabilities ⓘ	66	25	19	17	391	-20	1,034	1,845	1,355	2,377
Total Liabilities ⓘ	318	337	6,572	8,243	11,714	8,192	17,280	24,699	20,398	29,394
Fixed Assets
Gross Block	27	31	31	31	31	34	34	34	36	36
Accumulated Depreciation	23	23	24	18	17	18	20	22	24	26
Net Fixed Assetsⓘ	4	7	7	13	15	15	14	13	12	10
CWIP ⓘ	0	0	0	0	0	0	0	0	0	0
Investmentsⓘ	271	280	6,511	8,196	11,680	8,080	17,189	24,654	20,364	29,362
Inventories	1	1	1	1	2	3	4	6	4	4
Trade Receivables	3	2	2	3	4	5	7	10	7	2
Cash Equivalents	12	6	28	13	6	82	56	5	5	6
Others Assetsⓘ	26	41	23	16	9	7	10	12	7	11
Total Assets ⓘ	318	337	6,572	8,243	11,714	8,192	17,280	24,699	20,398	29,394

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	-10	-8	-33	1	1	-7	-6	119	209	206
PBT ⓘ	55	101	14	61	74	192	9	172	193	202
Adjustment ⓘ	-59	-107	-21	-69	-77	-194	-13	0	-2	-2
Changes in Working Capital ⓘ	-4	-1	-25	10	4	-6	-0	-27	15	15
Tax Paid ⓘ	-1	-1	-2	-1	-1	1	-1	-27	3	-8
Cash Flow From Investing Activity ⓘ	41	81	35	40	45	195	-68	-62	-3	-12
Capex	0	-4	0	-6	-3	-2	-1	0	-1	0
Net Investments	-5	-6	1	-28	-23	8	-75	-61	-2	-11
Others ⓘ	46	91	35	74	70	189	8	0	0	0
Cash Flow From Financing Activityⓘ	-33	-80	-2	-41	-45	-113	-1	-58	-205	-194
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Dividend Paid ⓘ	-28	-66	-2	-34	-38	-93	-1	-58	-205	-194
Others ⓘ	-5	-14	0	-7	-8	-19	0	0	0	0
Net Cash Flow ⓘ	-2	-6	0	0	0	75	-75	0	0	0

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	22.3	35.8	0.38	0.82	0.74	1.84	0.07	0.73	0.93	0.87
ROCE (%)	22.3	35.8	0.42	0.83	0.76	1.96	0.07	0.88	0.92	0.88
Asset Turnover Ratio	0.03	0.03	0	0	0	0	0	0.01	0.01	0.01
PAT to CFO Conversion(x)	-0.18	-0.08	-2.54	0.02	0.01	-0.04	-0.67	0.83	1.07	1.04
Working Capital Days
Receivable Days	91	91	89	82	90	100	138	16	14	7
Inventory Days	41	33	33	34	34	58	83	9	9	6
Payable Days	72	29	42	30	24	29	73	65	13	11

Maharashtra Scooters Ltd Stock News

Maharashtra Scooters Ltd FAQs

What is the share price of Maharashtra Scooters?

Company share prices are keep on changing according to the market conditions. The closing price of Maharashtra Scooters on 21-Nov-2024 16:59 is ₹9,307.7.

What is the market cap of Maharashtra Scooters?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 16:59 the market cap of Maharashtra Scooters stood at ₹11,381.1.

What is the P/E ratio of Maharashtra Scooters?

The latest P/E ratio of Maharashtra Scooters as of 21-Nov-2024 16:59 is 70.90.

What is the P/B ratio of Maharashtra Scooters?

The latest P/B ratio of Maharashtra Scooters as of 21-Nov-2024 16:59 is 0.37.

What is the 52-week high and low of Maharashtra Scooters?

The 52-week high of Maharashtra Scooters is ₹12,847.5 and the 52-week low is ₹6,702.

What is the TTM revenue of Maharashtra Scooters?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Maharashtra Scooters is ₹182.4 ( Cr.) .

About Maharashtra Scooters Ltd

Maharashtra Scooters (MSL) was incorporated on June 11, 1975. It holds 3.35% stake in Bajaj Auto in addition to 4.88% stake in Bajaj Auto Finance. It is a joint sector enterprise promoted by Western Maharashtra Development Corporation (27%) and Bajaj Auto (24%).

The company assembled geared scooters, but due to non-availability of CKD packs from Bajaj Auto, the company stopped production of geared scooters in April 2006. MSL has managerial and technical agreement with Bajaj Auto for production of scooters. Scooter brands included Chetak, Super and Priya. The company has its plants in Waluj and Akurdi.

The registered office of the company is at Bajaj Auto, Mumbai-Pune Road, Akurdi, Pune-411035, Maharashtra.

Milestones

1975 - The company was incorporated on June 11, at Pune.
1975 - The company entered into two agreements with Bajaj Auto, one for the preparation of the project report and another for technical know-how and assistance.
1975 - The technical know-how agreement was to be in force for a period of 10 years from the date of commencement of operations or till the company achieved a total production of 3,00,000 scooters whichever is later. Under the agreement, Bajaj Auto, agreed to supply to the company components at reasonable prices which was understood to be lower than the dealer prices for the said components in the replacement market.
1985 - The installed capacity was increased from 73,000 to 87,000 motorized two-wheelers up to 350cc engine capacity.
1986 - An application was made for further enhancement of its licensed capacity from 87,000 to 2,00,000 numbers of motorized two-wheelers and three-wheelers up to 350cc engine capacity, under the scheme of re-endorsement of industrial capacity with reference to the minimum economic scales of operation announced by the Government.
1986 - The company renewed its technical agreement with Bajaj Auto, for a further period of ten years from January 1, 1998.
1990 - During the year, commercial manufacture of Bajaj Super Scooters for which a technical know-how agreement was entered into with Bajaj Auto, on terms and conditions similar to the agreement for manufacture of Priya Scooters.
1996 - The company renewed its technical know-how agreement with Bajaj Auto for a further period of 10 years as similar terms. Company also entered into a protocol agreement with both the promoters of the company i.e. Bajaj Auto and Western Maharashtra Development Corporation.
2000 - Bajaj Auto offered to buy out the Maharashtra governmentâ€™s entire 27 per cent holding in this scooter manufacturing joint venture Maharashtra Scooters (MSL).
2000 - The company introduced five-day working week at its plant in Satara due to recession in the scooter segment.
2000 - Maharashtra Scooters, Satara, were presented the R J Rathi Award for Environment Pollution Control.
2001 - Bajaj Auto has evinced interest to purchase the 27 per cent equity stake in Maharashtra Scooters
2002 - Maharashtra government has formed a committee headed by chief secretary Ajit Nibalkar to speed up strategic sale of its stake in Maharashtra Scooters.