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Maan Aluminium Limited (MAANALU) Fair Value & Analysis

Basic Materials · IN · Market cap ₹7.5B

MA Maan Aluminium Limited MAANALU · NSE
Price₹119.33
Fair Value₹36.84
Upside-69.1%
Quality42/100
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Expensive Growth
Thin margins · 1.6% net margin
Low debt · negative free cash flow
Trails peers (1/13)
Narrow moat 24/100
Evidence: High Range ₹27.63 – ₹46.05 Share as image

Fair value as of: Aug 13, 2026

From 16 valuation models · updated 4 days ago

Share price +2.0% over the past month.

Below-average quality, and screening another 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹46.05). The favourable scenario is already priced in.
  • Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹250.67 ₹19.34 Fair Value ₹36.84 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹19.34 – ₹250.67 · fair‑value band ₹27.63 – ₹46.05 · the ₹119.33 price screens above the ₹36.84 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Maan Aluminium Limited (MAANALU) currently trades at ₹119.33, while our model-based Fair Value estimate is ₹36.84, implying the stock looks roughly 69.1% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Maan Aluminium Limited generated revenue of ₹8.1B at a net margin of 1.6%. Revenue grew 3.5% year over year. It earns a return on equity of 5.8%. Net debt stands at ₹164M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹27.63 (bear case) to ₹46.05 (bull case); at ₹119.33, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 19% above its 52-week low, currently below its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at 10% fair-value upside, at -69%, MAANALU screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income ₹34.33 ₹34.32 ₹31.73 76
ROIC Compounder ₹16.84 ₹18.73 ₹20.36 72
Gordon GGM ₹5.94 ₹11.84 ₹17.94 70
All 16 models by family
Earnings-Based
Graham-Dodd ₹14.77 ₹89.97 ₹125.49 54
Lynch FV ₹25.74 ₹36.78 ₹47.81 50
PEG = 1.0 ₹25.74 ₹36.78 ₹47.81 46
EPV ₹16.84 ₹18.73 ₹20.36 59
Dividend Discount
Gordon GGM ₹5.94 ₹11.84 ₹17.94 70
DDM Multi-Stage ₹5.94 ₹10.24 ₹12.50 61
Multiples
P/E Multiple ₹27.70 ₹36.93 ₹46.16 63
P/S Multiple ₹27.70 ₹36.93 ₹46.16 58
P/B Multiple ₹27.70 ₹36.93 ₹46.16 55
EV/EBIT ₹26.94 ₹34.29 ₹41.65 53
EV/EBITDA ₹29.98 ₹38.35 ₹46.73 54
EV/Revenue ₹23.99 ₹32.19 ₹40.39 43
Asset-Based
NCAV (Graham) ₹22.90 ₹30.69 ₹45.80 50
Economic Profit
Residual Income ₹34.33 ₹34.32 ₹31.73 76
ROIC Compounder ₹16.84 ₹18.73 ₹20.36 72
Growth Earnings
Growth-Adj P/E ₹33.92 ₹48.46 ₹62.99 68

Widest divergence: Growth Earnings (₹48.46) versus Dividend Discount (₹10.24). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) ₹8.1B
Revenue growth (YoY) +3.5%
Net margin 1.6%
Return on equity 5.8%
Free cash flow −₹63.4M FY2026
P/E ratio 50.8
More key figures
Operating margin -0.1%
EPS (TTM) ₹2.35
EPS growth (YoY) -60.2%
Net debt ₹164M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 42/100

Of which business quality 45 · Market factors (momentum, volatility) 40

Profitability 44
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 23
Earnings quality: real cash, not paper profit
Fin. Strength 70
Balance sheet, leverage, solvency risk
Investment 36
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 69
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Maan Aluminium Limited engages in the manufacturing and trading of aluminum profiles, ingots, billets, and other related products in India.

Full company description

Maan Aluminium Limited engages in the manufacturing and trading of aluminum profiles, ingots, billets, and other related products in India. It offers architectural structures, such as doors and windows, curtain walls, structural glazing products, and others; industrial products, including sign and display, electricals, transport and automotive, louver, luggage, carrier, and other industrial products. The company also offers geometrical shapes; AC grills and equipment; architectural hardware; and solar panels. It trades in non-ferrous scrap, as well as anodizes and fabricates profiles. The company serves construction, automobiles, solar energy, agriculture, architecture, defense, railway, electrical and electronics, medical, and heavy engineering industries. It exports its products. The company was formerly known as Man Aluminium Limited. Maan Aluminium Limited was founded in 1989 and is based in New Delhi, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Maan Aluminium Limited reported revenue of ₹8.1B in FY2026 versus ₹5.7B in FY2022, a compound +9.0%/yr. Reported net income was ₹130M in FY2026, compounding −12.3%/yr from FY2022.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹8.1B
Latest YoY
−0.2%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−0.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.0%
Avg. growth/yr (19Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.8%
Revenue +9.0%/yr
FY22 ₹5.7B
FY23 ₹8.1B
FY24 ₹9.5B
FY25 ₹8.1B
FY26 ₹8.1B
Net income −12.3%/yr
FY22 ₹220M
FY23 ₹500M
FY24 ₹327M
FY25 ₹155M
FY26 ₹130M
Character of growth · EPS growth decomposed (2015-2026) +34.7 % p.a.
Revenue per share +16.4 pp

of which total revenue +16.5 pp · buybacks/dilution −0.1 pp

EBIT margin +11.2 pp
Tax rate +1.6 pp
Residual (interest, one-offs) +5.6 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

MAANALU screens 69% overvalued. Compare with Shandong Hongqiao Aluminum Industry Holding →

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Cite: Fair Value Calculator (2026). "Maan Aluminium Limited Fair Value". https://www.fairvalue-calculator.com/stock/MAANALU

Peer Group

Aluminum · 82 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 42 · Below median
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) -0% · Bottom 25%
Revenue growth 4% · Below median
Dividend yield (TTM) 0.5% · Bottom 25%
Debt / equity 0.03× · Lower than median

Valuation Multiples vs Aluminum median · lower = cheaper

P/E (TTM) 50.8× · Pricier than 75% of peers
P/B 2.75× · Pricier than 75% of peers
P/S (TTM) 0.93× · Pricier than median
EV/EBITDA 36.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 16
FUTURE 18 · sector 25
PAST 23 · sector 32
HEALTH 98 · sector 92
DIVIDEND 11 · sector 39

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Aluminum stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Shandong Hongqiao Aluminum Industry Holding 002379 ¥21.34 ¥23.44 +10%
China Hongqiao Group 1378 HK$24.44 HK$45.58 +86%
Hindalco Industries Limited HINDALCO ₹1,046 ₹1,026 -2%
Aluminum Corporation 601600 ¥9.94 ¥16.30 +64%
Norsk Hydro ASA NHY kr 90.02 kr 58.10 -35%
Press Metal Aluminium Holdings 8869 7.99 MYR 3.88 MYR -51%
Alcoa Corporation AAI A$73.19 A$49.53 -32%
Yunnan Aluminium Co 000807 ¥27.44 ¥29.68 +8%
Henan Shenhuo Coal Industry and Electricity Power Co 000933 ¥27.24 ¥30.28 +11%
Tianshan Aluminum Group 002532 ¥14.27 ¥21.86 +53%

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Frequently asked questions

Is Maan Aluminium Limited (MAANALU) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹36.84 versus a price of ₹119.33, about −69% (overvalued).
What is the fair value of MAANALU?
Our model-based fair value for Maan Aluminium Limited is ₹36.84 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹119.33.
What is the quality score of MAANALU?
Maan Aluminium Limited has a Quality Score of 42/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Maan Aluminium Limited (MAANALU)?
Maan Aluminium Limited reported trailing-twelve-month revenue of about ₹8.1B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MAANALU?
The net profit margin of Maan Aluminium Limited is about 1.6%, meaning it keeps roughly 1.6% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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