MAHAN INDUSTRIES LTD. (MAHANIN) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of MAHAN INDUSTRIES LTD. ₹6.72, price ₹27.88, upside -75.9%, quality 42 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range ₹1.90 – ₹36.00 · fair‑value band ₹6.07 – ₹6.72 · the ₹27.88 price screens above the ₹6.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Mahan Industries Limited, a non-banking financial company, invests in equity shares in India. The company also invests in public companies that are traded stock exchange and acquires investment in the secondary market, as well as trades in commodities.
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Mahan Industries Limited, a non-banking financial company, invests in equity shares in India. The company also invests in public companies that are traded stock exchange and acquires investment in the secondary market, as well as trades in commodities. In addition, it provides equity capital to the companies, as well as loans and debts to companies, business entities, and high net worth individuals. The company was incorporated in 1995 and is based in Ahmedabad, India.
Stock analysis
MAHAN INDUSTRIES LTD. (MAHANIN) currently trades at ₹27.88, while our model-based Fair Value estimate is ₹6.72, 75.9% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹7.75 per share, and 0 of the 6 models we run sit above the ₹27.88 price.
Bear case: the Multiples group reads lowest at ₹1.33, and 6 of the 6 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹6.07 (bear) to ₹6.72 (bull), the price of ₹27.88 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 42/100 (below-average quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
MAHAN INDUSTRIES LTD. reported revenue of ₹57.2M in FY2026 versus ₹5.9M in FY2022, a compound +76.5%/yr. Reported net income was ₹461K in FY2026.
Key figures
Market cap ₹125M (≈ $1.3M) · P/E ratio 7.4 · P/S ratio 0.06 · EPS (TTM) ₹3.75 · Net margin 0.8% · Return on equity 0.9% · Return on assets (EBIT) −1.1% · Operating margin 38.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 236% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −15% fair-value upside, at −76%, MAHANIN screens richer than that median.
Fair Value models
Bear ₹6.07Fair Value ₹6.72Bull ₹6.72
Price ₹27.88 · Upside -75.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹1.92 per share) are deliberately not added.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. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+164.2%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+69.6%
Revenue growth 5 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+76.7%
Start year 2021 (pandemic). Over 10 years: +42.7% a year
Revenue growth 12 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+18.6%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−968.2% (2021) → 2.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Asset Management · 663 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score42 · Bottom 25%
Fair Value upside−75.9% · Bottom 25%
Profitability
Return on equity (TTM)0.9% · Below median
Return on assets0.7% · Below median
Net margin (TTM)15.0% · Below median
Operating margin (TTM)38.0% · Below median
Growth and dividend
Revenue growth773.4% · Top 25%
Balance sheet
Debt / equity1.01× · Highest 25%
Valuation Multiplesvs Asset Management median · lower = cheaper
P/E (TTM)7.4× · Cheaper than median
P/B2.41× · Priciest 25%
P/S (TTM)1.11× · Cheapest 25%
EV/EBITDA8.1× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 60
FUTURE (revenue growth)100· sector 36
PAST (return on equity)4· sector 23
HEALTH (low debt)49· sector 95
DIVIDEND (yield)0· sector 81
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is MAHAN INDUSTRIES LTD. (MAHANIN) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of ₹6.72 versus a price of ₹27.88, about −76% upside (overvalued).
What is the fair value of MAHANIN?
Our model-based fair value for MAHAN INDUSTRIES LTD. is ₹6.72 (as of Oct 3, 2026), built from audited fundamentals. The current price: ₹27.88.
What is the quality score of MAHANIN?
MAHAN INDUSTRIES LTD. 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 price target for MAHAN INDUSTRIES LTD. (MAHANIN)?
Our model-based price target is the fair value of ₹6.72 (as of Oct 3, 2026) from 6 valuation models. Cautious scenario ₹6.07, optimistic scenario ₹6.72. It is a calculation from audited fundamentals, not an analyst target.
What is the MAHAN INDUSTRIES LTD. stock forecast for 2026?
Our models put fair value at ₹6.72, about −76% upside versus a price of ₹27.88 (overvalued). Cautious scenario ₹6.07, optimistic scenario ₹6.72. The calculation is refreshed regularly with new filings.
What is the revenue of MAHAN INDUSTRIES LTD. (MAHANIN)?
MAHAN INDUSTRIES LTD. reported trailing-twelve-month revenue of about ₹113M (latest available figure, as of Oct 3, 2026).
What is the intrinsic value of MAHAN INDUSTRIES LTD. (MAHANIN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MAHAN INDUSTRIES LTD. it is ₹6.72 per share (as of Oct 3, 2026), against a price of ₹27.88. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is MAHAN INDUSTRIES LTD. stock overvalued or undervalued in 2026?
As of Oct 3, 2026, MAHANIN trades above its calculated fair value: price ₹27.88, fair value ₹6.72, a gap of about −76% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MAHANIN?
No. The price is what the market pays today (₹27.88); the fair value is what the company's own numbers justify (₹6.72). For MAHAN INDUSTRIES LTD. the two are ₹21.16 per share apart. That gap is exactly why we show both numbers side by side.
How much is MAHAN INDUSTRIES LTD. worth?
The market values MAHAN INDUSTRIES LTD. at about ₹125M (market capitalisation, as of Oct 3, 2026). Per share that is ₹27.88; our models calculate a fair value of ₹6.72 per share.
What do the bullish and bearish scenarios say about MAHANIN?
Our models span a range for MAHAN INDUSTRIES LTD.: cautious scenario ₹6.07, base ₹6.72, optimistic ₹6.72 per share (as of Oct 3, 2026, price ₹27.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MAHANIN?
MAHAN INDUSTRIES LTD. trades at a price-to-earnings ratio of 7.4 (as of Oct 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹6.72 is built from several models across several years. Other multiples: P/B 2.4, P/S 1.1, EV/EBITDA 8.1.
How solid is the balance sheet of MAHAN INDUSTRIES LTD. (MAHANIN)?
Balance-sheet figures for MAHAN INDUSTRIES LTD. (as of Oct 3, 2026): return on equity 0.9%, debt of 1.01 per unit of equity. They feed the Quality Score of 42/100, which measures business quality independently of the share price.
How far is MAHANIN from its 52-week high?
MAHAN INDUSTRIES LTD. trades at ₹27.88, at its 52-week high of ₹27.88 and 236% above the low of ₹8.30 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹6.72 is for.
Which stocks are comparable to MAHAN INDUSTRIES LTD.?
From the same area (Financial Services) we also value Blackstone Inc, KKR & Co, Brookfield Corporation, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is MAHAN INDUSTRIES LTD. stock attractive at the current price?
The data as of Oct 3, 2026: price ₹27.88, calculated fair value ₹6.72 (−76%), Quality Score 42/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MAHANIN calculated?
We run MAHAN INDUSTRIES LTD. through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹6.72, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.9 % above its aggregate fair value. MAHAN INDUSTRIES LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of MAHAN INDUSTRIES LTD. (MAHANIN)?
The closing price on Oct 1, 2026 was ₹27.88. Our model-based fair value is ₹6.72, about −76% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MAHAN INDUSTRIES LTD. right now?
The price sits above even our optimistic bull case (₹6.72). 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. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. The models converge in a tight band (₹6.07 to ₹6.72), unusually little disagreement for a valuation.
Key figures of MAHAN INDUSTRIES LTD.
How large is the market capitalisation of MAHAN INDUSTRIES LTD. (MAHANIN)?
The market capitalisation of MAHAN INDUSTRIES LTD. is ₹125M (≈ $1.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of MAHAN INDUSTRIES LTD. (MAHANIN)?
The price-to-sales ratio of MAHAN INDUSTRIES LTD. is 0.06 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of MAHAN INDUSTRIES LTD. (MAHANIN)?
Earnings per share at MAHAN INDUSTRIES LTD. are ₹3.75 (price ÷ EPS = P/E 7.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of MAHAN INDUSTRIES LTD. (MAHANIN)?
The net margin of MAHAN INDUSTRIES LTD. is 0.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of MAHAN INDUSTRIES LTD. (MAHANIN)?
The return on equity (ROE) of MAHAN INDUSTRIES LTD. is 0.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of MAHAN INDUSTRIES LTD. (MAHANIN)?
On an EBIT basis the return on assets of MAHAN INDUSTRIES LTD. is −1.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of MAHAN INDUSTRIES LTD. (MAHANIN)?
The operating margin of MAHAN INDUSTRIES LTD. is 38.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MAHAN INDUSTRIES LTD. (MAHANIN)?
Revenue at MAHAN INDUSTRIES LTD. is growing +773% versus a year earlier (3y avg +69.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at MAHAN INDUSTRIES LTD. (MAHANIN)?
Earnings per share at MAHAN INDUSTRIES LTD. are growing +20.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does MAHAN INDUSTRIES LTD. (MAHANIN) generate?
The free cash flow of MAHAN INDUSTRIES LTD. is −₹361K (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does MAHAN INDUSTRIES LTD. (MAHANIN) carry?
The net debt of MAHAN INDUSTRIES LTD. is ₹52.4M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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