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Swing Capital

Maheshwari Logistics Ltd

NSE: MAHESHWARILogistics

Incorporated in 2006, Maheshwari Logistics Ltd is in the business of carriers/ transporters, and dealing in Paper products and coal & lignite etc.[1]

₹53
52W: ₹39 — ₹65
PE 8.37 · Book ₹69.9 · -24% vs book
Market Cap₹157 Cr
Stock P/E8.37Price to Earnings
ROCE12.6%Return on Capital
ROE9.27%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Stock is trading at 0.77 times its book value
  • +Company's working capital requirements have reduced from 25.1 days to 19.3 days

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 4.62% over past five years.
  • −Company has a low return on equity of 8.25% over last 3 years.

Shareholding Pattern

Promoters57.15%
FIIs0%
DIIs0%
Public40.98%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.11%57.11%57.11%57.14%▲0.057.14%56.58%▼0.656.58%57.15%▲0.6
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public41.65%41.66%▲0.041.66%41.63%▼0.041.63%41.63%41.63%40.98%▼0.7

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales234.43271.1255.92245.3224.8230.03249.11256.31265.19261.5
Expenses220.81258.74242.89231.22209.02212.32232.21239.37249.89244.14
Operating Profit13.6212.3613.0314.0815.7817.7116.916.9415.317.36
OPM %5.81%4.56%5.09%5.74%7.02%7.7%6.78%6.61%5.77%6.64%
Net Profit3.822.743.413.774.533.016.264.383.914.18
EPS ₹1.290.931.151.271.531.022.121.481.321.41

AI Insights

Revenue Trend

TTM revenue at ₹1,032Cr, up 8.9% YoY. OPM at 6%.

Debt Position

Borrowings at ₹281Cr. Debt-to-equity ratio: 1.59x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹1Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 57.15%.

Margin & Efficiency

ROCE declining from 20% (Mar 2014) to 13% (Mar 2025). Working capital days: 19.

Valuation

PE 8.37x with 12.6% ROCE. Price is -24% above book value of ₹69.9. Dividend yield: 0%.

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