Maha Rashtra Apex Corporation Limited (MAHAPEXLTD) AI Stock Analysis

• Market Cap: ₹1.60B
• Dividend Yield: N/A
• Average Volume (3M): 759.00
• Price to Earnings (P/E): 7.6
• Beta (1Y): 0.35
• Revenue Growth: -6.94%
• EPS Growth: -97.47%
• Country: IN
• Employees: 19
• Sector: Services
• Sector Strength: N/A
• Industry: Financial - Credit Services
• EPS (TTM): 1.88
• Shares Outstanding: 28,300,200
• 10 Day Avg. Volume: 583
• 30 Day Avg. Volume: 759
• PEG Ratio: 0.36
• Price to Book (P/B): 0.33
• Price to Sales (P/S): 112.09
• P/FCF Ratio: -29.31
• 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: 57 Neutral
• Price Target: ₹58.00 ▼(-42.57% Downside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is held back primarily by deteriorating financial performance (sharp revenue decline, weaker profitability, and negative operating/free cash flow), partially offset by a comparatively stable balance sheet. Technicals show positive trend signals but are overbought, adding short-term risk. Valuation appears inexpensive on P/E, providing some support.

Positive Factors

Strong balance sheet / low leverage

A low debt-to-equity ratio and strong equity ratio provide durable financial flexibility: the company can better withstand revenue shocks, avoid forced asset sales, and retain optionality for investments or restructuring over the next several months without immediate solvency pressure.

Defensive volatility profile (low beta)

A low beta signals lower systematic sensitivity to market swings, which supports steadier access to capital and makes cash planning more predictable. Over a 2-6 month horizon this reduces refinancing and market-timing risk as management executes stabilization or turnaround steps.

Lean operating footprint

A very small employee base suggests a lean cost structure and lower fixed overhead, enabling the company to reduce breakeven needs and reallocate resources quickly. This structural agility helps preserve cash and implement operational pivots during multi-month recoveries.

Negative Factors

Severe revenue decline

An 82.9% revenue collapse is a structural red flag: it erodes scale economics, damages customer relationships and recurring streams, and reduces the base for future growth. Restoring revenue is essential for sustainable margins, capital deployment and long-term viability.

Negative gross and net margins

Negative gross margins indicate core product or service economics are broken, not just one-off costs. Sustained margin weakness reduces internal fund generation, limits reinvestment, and pressures return on equity, making multi-month recovery dependent on structural cost or pricing fixes.

Negative operating and free cash flows

Persistent negative operating and free cash flows create liquidity strain and may force external financing or asset disposal. Even with low leverage, continued cash burn undermines operational continuity and constrains capacity to execute strategic fixes over the coming months.

Maha Rashtra Apex Corporation Limited Business Overview & Revenue Model

Company Description

Maha Rashtra Apex Corporation Limited does not have significant operations. Previously, it was engaged in the hire purchase, leasing, and bill discounting. business. The company was formerly known as Maharashtra Apex Bank Ltd. Maha Rashtra Apex Corporation Limited was incorporated in 1943 and is based in Manipal, India.

Maha Rashtra Apex Corporation Limited Financial Statement Overview

Summary

Income statement and cash flows are weak: revenue fell 82.86% in the latest year, profitability deteriorated with negative gross margin, and operating/free cash flows are negative. The balance sheet is a relative strength with low leverage and a strong equity ratio, but ROE has declined.

Income Statement

The income statement shows significant volatility with a sharp decline in revenue and profitability in the latest year. Gross profit margin turned negative, and net profit margin dropped significantly. The company experienced a substantial revenue decline of 82.86% in the most recent year, indicating potential challenges in maintaining revenue streams.

Balance Sheet

The balance sheet remains relatively stable with a low debt-to-equity ratio, indicating low leverage. The equity ratio is strong, suggesting a solid capital structure. However, the return on equity has decreased, reflecting reduced profitability relative to shareholder equity.

Cash Flow

Cash flow analysis reveals negative operating and free cash flows, indicating potential liquidity issues. The free cash flow to net income ratio is above 1, suggesting that cash flow management needs improvement. The company has not shown consistent growth in free cash flow, which could impact future operations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	8.81M	13.61M	87.14M	21.30M	38.92M	30.66M
Gross Profit	2.02M	1.91M	67.57M	2.06M	17.09M	12.08M
EBITDA	3.40B	3.40B	-388.90M	-29.31M	19.61M	321.99M
Net Income	3.72B	3.36B	-404.61M	-418.77M	13.42M	337.18M
Balance Sheet
Total Assets	0.00	5.43B	5.49B	2.09B	2.60B	2.61B
Cash, Cash Equivalents and Short-Term Investments	0.00	209.56M	21.05M	134.68M	167.95M	144.44M
Total Debt	0.00	3.18M	62.84M	3.96M	3.18M	3.18M
Total Liabilities	-4.66B	772.72M	878.53M	960.67M	1.10B	1.12B
Stockholders Equity	4.66B	4.66B	4.61B	1.13B	1.50B	1.49B
Cash Flow
Free Cash Flow	0.00	-52.04M	-88.64M	-76.96M	-22.89M	8.59M
Operating Cash Flow	0.00	-43.01M	-88.64M	-76.90M	-22.67M	8.65M
Investing Cash Flow	0.00	69.21M	62.88M	52.54M	5.60M	-68.00K
Financing Cash Flow	0.00	-1.80M	1.04M	7.35M	12.07M	5.68M

Maha Rashtra Apex Corporation Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 101.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAHAPEXLTD, the sentiment is Neutral. The current price of 101 is above the 20-day moving average (MA) of 55.75, above the 50-day MA of 53.14, and above the 200-day MA of 54.88, indicating a bullish trend. The MACD of 3.64 indicates Negative momentum. The RSI at 49.66 is Neutral, neither overbought nor oversold. The STOCH value of 56.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MAHAPEXLTD.

Maha Rashtra Apex Corporation Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SECMARK	73 Outperform	₹1.13B	-15.68	―	―	28.58%	68.42%
INDBANK	71 Outperform	₹1.38B	20.15	―	―	-18.35%	-43.75%
MAHAPEXLTD	57 Neutral	₹1.60B	7.59	―	―	-6.94%	-97.47%
SIKKO	56 Neutral	₹2.07B	27.36	―	―	14.93%	-24.77%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
AHLWEST	49 Neutral	₹1.65B	1.72	―	―	―	―

Maha Rashtra Apex Corporation Limited Corporate Events

Maha Rashtra Apex Assigns ISIN for Rights Entitlements Ahead of Rights Issue

Maha Rashtra Apex Corporation Limited has announced the allocation of a dedicated International Securities Identification Number, INE843B20013, for rights entitlements linked to its upcoming rights issue. In line with SEBI’s rights issue regulations, the company has coordinated with depositories NSDL and CDSL to ensure that eligible equity shareholders receive their rights entitlements in dematerialized form in their demat accounts before the issue opens, streamlining participation and reinforcing compliance with market norms.

Maha Rashtra Apex Corporation Clears 1:1 Rights Issue at ₹10 to Double Equity Base

Maha Rashtra Apex Corporation Limited’s board has approved a fully paid rights issue of equity shares at par value, offering one new share for every existing share held as of the March 20, 2026 record date. The rights shares are priced at ₹10 each, with the full amount payable on application, and the issue period is scheduled from April 2 to April 30, 2026, subject to possible extension within regulatory limits.

The company plans to issue up to 14,091,896 new equity shares, targeting an issue size of up to ₹1,409.19 lakhs and potentially doubling its outstanding share capital to 28,183,792 shares on full subscription. This capital-raising move, enabled by recent in-principle approvals from both major Indian exchanges and supported by an appointed advisor, is set to expand the shareholder base and could enhance liquidity in the stock while modestly diluting existing holdings for non-participating investors.

Maha Rashtra Apex Sets Record Date for Upcoming Rights Issue

Maha Rashtra Apex Corporation Limited has set March 20, 2026 as the record date to determine eligible shareholders for receiving rights entitlements in an upcoming rights issue of equity shares. The move, approved by the board on March 11, 2026 and disclosed to both BSE and NSE, clarifies which investors will qualify to participate in the capital-raising exercise, providing transparency for existing stakeholders ahead of the rights offer.

By fixing the record date and formally notifying the exchanges, the company is advancing its planned rights issue process in line with SEBI listing regulations. This step signals an imminent equity fundraising that could strengthen the company’s capital base, while also potentially diluting non-participating shareholders, making the record date a key reference point for investors tracking their entitlements.