Maan Aluminium Limited (MAANALU) AI Stock Analysis

• Market Cap: ₹8.17B
• Dividend Yield: N/A
• Average Volume (3M): 11.62K
• Price to Earnings (P/E): 77.2
• Beta (1Y): 0.84
• Revenue Growth: -0.28%
• EPS Growth: -33.35%
• Country: IN
• Employees: 225
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Aluminum
• EPS (TTM): 0.52
• Shares Outstanding: 59,984,863
• 10 Day Avg. Volume: 29,370
• 30 Day Avg. Volume: 11,620
• PEG Ratio: -0.53
• Price to Book (P/B): 2.44
• Price to Sales (P/S): 0.54
• P/FCF Ratio: -7.73
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: ₹148.00 ▼(-5.04% Downside)
• Action: Reiterated Date: 12/19/25
• Date: Action: Reiterated 12/19/25

The overall stock score of 67.4 reflects strong technical momentum and a solid financial foundation, despite challenges in profitability and cash flow stability. The high P/E ratio suggests potential overvaluation, which is a significant risk factor. The absence of earnings call data and corporate events means these factors did not influence the score.

Positive Factors

Balance sheet strength

A robust equity base and reasonable leverage provide durable financing flexibility. This capital structure reduces refinancing risk, supports capital expenditure and working capital needs, and gives the company resilience during industry cycles, enabling longer-term strategic investments.

Efficient capital use (ROE)

Sustained strong ROE indicates management is generating above-average returns from equity, a durable competitive attribute. Efficient capital deployment improves reinvestment returns and supports shareholder value creation even if revenue growth moderates.

Revenue base and net margins

A consistent revenue base combined with net margins above peers suggests underlying demand and some pricing power. Over time this supports cash generation potential and provides a foundation to recover margins if cost headwinds are addressed.

Negative Factors

Cash flow volatility / negative FCF

Recent negative free cash flow and volatile cash conversion weaken the firm's ability to fund capex, reduce debt, or return capital without external financing. Persisting volatility undermines financial flexibility and raises funding risk during downturns.

Margin compression / cost pressures

Declining gross and operating margins point to structural cost or input-price pressures. If sustained, margin erosion reduces reinvestment capacity and competitive buffer, forcing either price increases (demand risk) or permanent cost restructuring.

Declining revenue and EPS trends

Material negative revenue and EPS growth indicate weakening top-line momentum or market share loss. Over months this reduces scale benefits, compresses future cash flow prospects, and complicates margin recovery and deleveraging efforts without strategic corrective actions.

Maan Aluminium Limited Business Overview & Revenue Model

Company Description

Maan Aluminium Limited engages in the manufacturing and trading of aluminum profiles, ingots, billets, and other related products in India. The company offers geometrical shapes; architectural structures, such as doors and windows, curtain walls, structural glazing products, and others; AC grills and equipment; architectural hardware; industrial products, including sign and display, electricals, transport and automotive, louver, luggage, carrier, and other industrial products; and solar panels. It also trades in ingots and billets, and non-ferrous scrap; and anodizes and fabricates profiles. The company serves automobiles, agriculture, rail and road transport, building and construction, heavy engineering, architecture, electronics, solar energy, and defense industries. It also 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.

How the Company Makes Money

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Maan Aluminium Limited Financial Statement Overview

Summary

Maan Aluminium Limited demonstrates strong revenue growth and a solid balance sheet, yet faces challenges in sustaining profitability margins and free cash flows. While the company is positioned well with a strong equity base, it must address cost management and cash flow stability to enhance future financial performance.

Income Statement

The income statement shows a solid trajectory with positive revenue growth, although profitability has faced some challenges. The gross profit margin has seen a decline from previous highs, indicating increased cost pressures. However, consistent revenue growth and net profit margins above industry average are positive indicators despite recent declines in EBIT and EBITDA margins.

Balance Sheet

The company's balance sheet reflects strong equity growth and a reasonable debt-to-equity ratio, indicating sound financial health. The equity ratio is healthy, showcasing a robust capital structure, though the increasing leverage could pose future risks if not managed carefully. The return on equity remains strong, reflecting efficient utilization of shareholder funds.

Cash Flow

Cash flow analysis reveals volatility, with significant fluctuations in free cash flow. The negative free cash flow in the latest period is concerning, although historical operating cash flows have been positive. The company needs to stabilize its cash generation to support future growth and capital expenditures effectively.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	8.30B	8.10B	9.53B	8.14B	5.72B	4.03B
Gross Profit	924.50M	739.30M	1.18B	1.28B	602.13M	617.75M
EBITDA	335.90M	304.20M	523.38M	764.47M	369.20M	269.56M
Net Income	154.90M	155.10M	327.49M	499.71M	219.79M	147.96M
Balance Sheet
Total Assets	3.05B	3.00B	2.25B	2.25B	1.71B	1.60B
Cash, Cash Equivalents and Short-Term Investments	87.10M	61.40M	51.72M	29.31M	4.27M	61.38M
Total Debt	828.10M	901.60M	326.03M	561.08M	655.98M	731.53M
Total Liabilities	1.18B	1.21B	620.03M	946.14M	870.69M	961.72M
Stockholders Equity	1.87B	1.78B	1.63B	1.30B	843.73M	640.59M
Cash Flow
Free Cash Flow	92.20M	-564.40M	249.47M	186.93M	31.50M	-307.83M
Operating Cash Flow	141.70M	-9.70M	334.75M	290.24M	150.97M	-194.92M
Investing Cash Flow	-34.00M	-565.40M	-63.10M	-101.69M	-73.24M	-123.53M
Financing Cash Flow	-107.70M	575.00M	-272.02M	-188.65M	-138.09M	379.24M

Maan Aluminium Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 155.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAANALU, the sentiment is Positive. The current price of 155.85 is above the 20-day moving average (MA) of 134.41, above the 50-day MA of 144.03, and above the 200-day MA of 132.64, indicating a neutral trend. The MACD of -3.93 indicates Negative momentum. The RSI at 49.04 is Neutral, neither overbought nor oversold. The STOCH value of 81.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MAANALU.

Maan Aluminium Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MAANALU	67 Neutral	₹8.17B	77.24	―	―	-0.28%	-33.35%
MANAKSIA	67 Neutral	₹3.28B	7.26	―	―	51.38%	-19.06%
OCCL	67 Neutral	₹929.58M	18.71	―	10.99%	-76.65%	-76.77%
MANAKSTEEL	64 Neutral	₹3.39B	11.94	―	―	49.22%	49.59%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MMP	58 Neutral	₹5.53B	14.02	―	0.78%	26.79%	-35.43%
MANAKALUCO	57 Neutral	₹1.64B	28.65	―	0.28%	19.61%	21.47%

Maan Aluminium Limited Corporate Events

Maan Aluminium Files Q3 FY26 Earnings Call Transcript With Exchanges

Maan Aluminium Limited has released the transcript of its Q3 FY26 earnings conference call held on 17 February 2026 with analysts and investors. The company informed both the Bombay Stock Exchange and National Stock Exchange that the transcript has been filed under disclosure regulations and is available on its website for stakeholders’ reference.

Maan Aluminium Confirms SEBI Compliance on Dematerialised Securities for Q3 FY2025-26

Maan Aluminium Limited has reported that its Registrar and Share Transfer Agent, MUFG Intime India Pvt. Ltd., has confirmed compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 31 December 2025. The RTA has verified that all securities submitted for dematerialisation during the quarter are duly listed on the same stock exchanges as the company’s existing securities, and that the corresponding physical certificates have been mutilated, cancelled and replaced in the register of members with the depositories’ names as registered owners within the prescribed timelines, underscoring the company’s adherence to regulatory norms in handling its dematerialised shares.

Maan Aluminium Gets Exchange Nod for ₹141-Per-Share Preferential Issue

Maan Aluminium Limited has received in-principle approvals from both the National Stock Exchange of India and BSE to issue 5.9 million equity shares of face value Rs 5 each at a price not less than Rs 141 per share on a preferential basis to a mix of promoter and non-promoter investors. The approvals, which are subject to statutory and regulatory compliances, pave the way for a potential capital infusion that could strengthen the company’s balance sheet and shareholder base, although final listing will depend on fulfilment of all conditions laid down by the exchanges and other authorities.