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Maharashtra Scooters Ltd (MAHSCOOTER) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹150B (≈ $1.6B) · ISIN INE288A01013

What is Maharashtra Scooters Ltd really worth?

MS Maharashtra Scooters Ltd MAHSCOOTER · BSE
Price₹13,586
Fair Value₹4,620
Upside−66.0%
Quality68/100

A solid business, but trading 194% above our fair value of ₹4,620.

As of Aug 21, 2026, the fair value of Maharashtra Scooters Ltd is ₹4,620 per share against a price of ₹13,586, so the fair value sits 66% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Strengths

Healthy Growth (revenue 5y +82.9 %/yr)
Highly profitable · 114.3% net margin
generates free cash flow

Risks

!Moderate moat 60/100

For context

·1.40% dividend yield
Evidence: High Range ₹3,465 – ₹7,995

Fair value as of: Aug 21, 2026

From 22 valuation models · updated 16 days ago

Share price −1.9% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹7,995). The favourable scenario is already priced in.
  • Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹3,465 to ₹7,995) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

₹17,815 ₹3,018 Fair Value ₹4,620 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range ₹3,018 – ₹17,815 · fair‑value band ₹3,465 – ₹7,995 · the ₹13,586 price screens above the ₹4,620 fair value. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Maharashtra Scooters Ltd (MAHSCOOTER) currently trades at ₹13,586, while our model-based Fair Value estimate is ₹4,620, implying the stock looks roughly 194.1% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Consumer Cyclical sector. Bull case: the Asset-Based group reads highest at a median of ₹16,201 per share, and 2 of the 22 models we run sit above the ₹13,586 price. Bear case: the Economic Profit group reads lowest at ₹2,700, and 20 of the 22 models stay below the price. Evidence for this calculation is high.

Trailing-twelve-month revenue stands at ₹3.1B. Revenue declined 0.8% year over year. It earns a return on equity of 1.1%. The stock trades on a trailing P/E of 43.4. Fundamentals as of Aug 21, 2026

Our scenario range runs from ₹3,465 (bear case) to ₹7,995 (bull case); at ₹13,586, 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 26% below its 52-week high and 25% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at −66%, MAHSCOOTER screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹53.48 per share, which is 0.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

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 best evidence ₹16,569 ₹15,404 ₹11,355 74
FCF DCF ₹3,933 ₹6,188 ₹13,371 71
EPV ₹2,314 ₹2,700 ₹3,037 70
All 22 models by family
DCF Models
FCF DCF ₹3,933 ₹6,188 ₹13,371 71
5Y Revenue Exit ₹1,263 ₹1,645 ₹2,400 68
5Y EBITDA Exit ₹2,912 ₹4,980 ₹9,028 67
5Y P/E Exit ₹4,463 ₹10,174 ₹17,992 62
10Y Revenue Exit ₹2,048 ₹3,242 ₹3,609 64
10Y EBITDA Exit ₹3,262 ₹6,794 ₹12,800 60
10Y P/E Exit ₹4,394 ₹10,133 ₹19,650 55
Earnings-Based
Graham-Dodd ₹1,848 ₹12,887 ₹18,084 61
Lynch FV ₹6,658 ₹9,511 ₹12,364 59
PEG = 1.0 ₹6,658 ₹9,511 ₹12,364 55
EPV ₹2,314 ₹2,700 ₹3,037 70
Multiples
P/E Multiple ₹4,484 ₹5,978 ₹7,473 63
P/S Multiple ₹246.43 ₹328.58 ₹410.72 58
P/B Multiple ₹3,465 ₹4,620 ₹5,774 55
EV/EBIT ₹3,645 ₹4,860 ₹6,075 63
EV/EBITDA ₹2,430 ₹3,240 ₹4,050 64
EV/Revenue ₹230.06 ₹328.63 ₹427.20 51
Asset-Based
NCAV (Graham) ₹12,090 ₹16,201 ₹24,180 51
Growth DCF
Growth DCF ₹3,699 ₹7,342 ₹13,312 70
Economic Profit
Residual Income best evidence ₹16,569 ₹15,404 ₹11,355 74
ROIC Compounder ₹2,314 ₹2,700 ₹3,037 68
Growth Earnings
Growth-Adj P/E ₹8,838 ₹12,625 ₹16,413 65

Widest divergence: Asset-Based (₹16,201) versus Economic Profit (₹2,700). Highest evidence: Residual Income (74).

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Key figures & financial health

P/E ratio 43.4
P/S ratio 43.1 P/E × margin
EPS (TTM) ₹312.76 price ÷ EPS = P/E 43.4
Dividend yield 1.4% payout 60.7%
Net margin 99.2% FY2026
Return on equity 1.1% TTM
More key figures
Profitability
Return on assets (EBIT) 0.6% avg 5y
Operating margin 86.2% TTM
Growth
Revenue (TTM) ₹3.1B TTM
Revenue growth (YoY) −0.8% 3y avg +13.1%
EPS growth (YoY) +24.1%
Balance sheet & cash flow
Free cash flow ₹2.7B FY2026

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 67 · Market factors (momentum, volatility) 51

Profitability 29
Margins and returns on capital today
Quality Growth 77
Are margins and returns improving?
Cashflow 81
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 53
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 82
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Maharashtra Scooters Ltd. manufactures and sells pressure die casting dies, jigs, and fixtures, and die casting components primarily for the two and three-wheeler industry in India. The company operates through Manufacturing and Investments segments. It is also involved in treasury operations, as well as manages surplus funds invested by the company.

Full company description

Maharashtra Scooters Ltd. manufactures and sells pressure die casting dies, jigs, and fixtures, and die casting components primarily for the two and three-wheeler industry in India. The company operates through Manufacturing and Investments segments. It is also involved in treasury operations, as well as manages surplus funds invested by the company. Maharashtra Scooters Ltd. was incorporated in 1975 and is based in Pune, India. Maharashtra Scooters Ltd. is a subsidiary of Bajaj Holdings and Investment Ltd.

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

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Maharashtra Scooters Ltd reported revenue of ₹3.1B in FY2026 versus ₹169M in FY2022, a compound +107.4%/yr. Reported net income was ₹3.1B in FY2026, compounding +21.5%/yr from FY2022.

Growth Quality 80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹3.1B
Latest YoY
+71.3%
Avg. revenue 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.
+13.1%
Avg. revenue 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.
+82.9%
Avg. revenue growth/yr (7Y) 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.
+55.1%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +18.2% (approximate, leans on 2026) · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+16.8%
Dividend yield1.4%
Operating margin (EBIT) 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.−41.3% (2021) → 98.6% (2026) · rising
Worst earnings drop95% (2021) · in INR
⚠ Rate leans on 2026: that final year sits 56% above its own trend (e.g. a one-off disposal gain) and could not be adjusted
Revenue +107.4%/yr
FY22 ₹169M
FY23 ₹2.2B
FY24 ₹2.2B
FY25 ₹1.8B
FY26 ₹3.1B
Net income +21.5%/yr
FY22 ₹1.4B
FY23 ₹2.0B
FY24 ₹2.0B
FY25 ₹2.1B
FY26 ₹3.1B

MAHSCOOTER screens 194% overvalued. Compare with O'Reilly Automotive, Inc →

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Cite: Fair Value Calculator (2026). "Maharashtra Scooters Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MAHSCOOTER.BSE

Peer Group

Auto Parts · 641 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 68 · Top 25%
Fair Value upside −66% · Bottom 25%
Return on equity (TTM) 1% · Bottom 25%
Return on assets 1% · Bottom 25%
Net margin (TTM) 114% · Top 25%
Operating margin (TTM) 86% · Top 25%
Revenue growth −1% · Below median
Dividend yield (TTM) 1.4% · Below median

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 43.4× · Pricier than 75% of peers
P/B 0.54× · Cheaper than 75% of peers
P/S (TTM) 47.82× · Pricier than 75% of peers
P/FCF 0.6× · Cheaper than median
EV/EBITDA 48.4× · Pricier than 75% of peers

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

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Frequently asked questions

Is Maharashtra Scooters Ltd (MAHSCOOTER) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹4,620 versus a price of ₹13,586, about −66% upside (overvalued).
What is the fair value of MAHSCOOTER?
Our model-based fair value for Maharashtra Scooters Ltd is ₹4,620 (as of Aug 21, 2026), built from audited fundamentals. The current price: ₹13,586.
What is the quality score of MAHSCOOTER?
Maharashtra Scooters Ltd has a Quality Score of 68/100. 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 Maharashtra Scooters Ltd (MAHSCOOTER)?
Our model-based price target is the fair value of ₹4,620 (as of Aug 21, 2026) from 22 valuation models. Cautious scenario ₹3,465, optimistic scenario ₹7,995. It is a calculation from audited fundamentals, not an analyst target.
What is the Maharashtra Scooters Ltd stock forecast for 2026?
Our models put fair value at ₹4,620, about −66% upside versus a price of ₹13,586 (overvalued). Cautious scenario ₹3,465, optimistic scenario ₹7,995. The calculation is refreshed regularly with new filings.
What is the revenue of Maharashtra Scooters Ltd (MAHSCOOTER)?
Maharashtra Scooters Ltd reported trailing-twelve-month revenue of about ₹3.1B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of MAHSCOOTER?
The net profit margin of Maharashtra Scooters Ltd is about 114.3%, meaning it keeps roughly 114.3% of revenue as net income. Based on the latest reported figures.
Does Maharashtra Scooters Ltd pay a dividend?
Maharashtra Scooters Ltd currently shows a dividend yield of about 1.40% relative to its recent price (as of Aug 21, 2026).
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