Maheshwari Logistics Ltd. (MAHESHWARI) AI Stock Analysis

• Market Cap: ₹1.31B
• Dividend Yield: N/A
• Average Volume (3M): 7.65K
• Price to Earnings (P/E): 9.1
• Beta (1Y): 0.42
• Revenue Growth: 2.13%
• EPS Growth: 35.04%
• Country: IN
• Employees: 665
• Sector: Services
• Sector Strength: N/A
• Industry: Integrated Freight & Logistics
• EPS (TTM): 1.29
• Shares Outstanding: 29,597,200
• 10 Day Avg. Volume: 11,606
• 30 Day Avg. Volume: 7,654
• PEG Ratio: 0.29
• Price to Book (P/B): 0.85
• Price to Sales (P/S): 0.17
• P/FCF Ratio: 6.39
• 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: 70 Outperform
• Price Target: ₹46.00 ▼(-3.26% Downside)
• Action: Reiterated Date: 02/07/26
• Date: Action: Reiterated 02/07/26

The score is driven primarily by solid financial performance (notably strong cash-flow conversion and a sound balance sheet) and attractive valuation (low P/E). These positives are tempered by mixed technicals, with the stock trading below key medium- and long-term moving averages and slightly negative MACD.

Positive Factors

Strong cash generation

Sustained improvement in operating and free cash flow indicates the business converts earnings into cash efficiently. That durable cash generation supports capex, working capital needs, debt servicing and optional shareholder returns, enhancing resilience across cycles.

Manageable leverage and stable capital base

A moderate debt-to-equity profile and stable equity ratio provide financial flexibility for investing in fleet, tech or network expansion while limiting refinancing risk. This balanced structure supports steady operations and cushions the company through industry slowdowns.

Operational efficiency and earnings momentum

Double-digit revenue growth and strong EPS expansion, together with decent EBIT/EBITDA margins, signal improving operating leverage and pricing or cost control effectiveness. These durable efficiencies can support margin expansion and internal funding for growth initiatives.

Negative Factors

Low net profit margins

Relatively low net margins mean the company retains less of revenue as profit after all expenses and taxes. Over the medium term this limits reinvestment capacity, slows equity buildup, and reduces downside protection versus peers with higher net profitability.

Modest return on equity

Modest ROE implies the company earns only average returns on invested capital. Persistently middling ROE can constrain shareholder value creation, limit attraction for equity investors, and indicate room for improvement in capital allocation or margin expansion.

Mixed recent revenue trend

A recent slight revenue decline amid otherwise stable sales suggests revenue growth is not yet consistently robust. That mixed trend raises questions about demand durability and the firm's ability to scale margins sustainably through higher volumes over the coming months.

Maheshwari Logistics Ltd. Business Overview & Revenue Model

Company Description

Maheshwari Logistics Limited, together with its subsidiaries, provides logistics services in India. The company operates in three segments: Trading, Transportation & Service, and Manufacturing. It offers bulk cargo transportation services for cement, paper, textiles, fertilizers, and other industries. The company owns approximately 60 trucks and associates with approximately 7000 third party trucks. It is also involved in supply of non-coking coal; manufacture of kraft paper; and trading in various papers. Maheshwari Logistics Limited was incorporated in 2006 and is based in Valsad, India.

How the Company Makes Money

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Maheshwari Logistics Ltd. Financial Statement Overview

Summary

Financials are steady overall, supported by strong operating and free cash flow generation and a reasonably balanced balance sheet. The main constraint is relatively low net profitability, suggesting limited earnings power despite decent operational efficiency.

Income Statement

The company shows stable revenue generation with a slight decrease. Gross profit margins are moderate, indicating efficient management of cost of goods sold. However, net profit margins are relatively low, reflecting limited profitability. EBIT and EBITDA margins show decent operational efficiency but suggest room for improvement.

Balance Sheet

The balance sheet indicates a moderate debt-to-equity ratio, suggesting a balanced financial structure with manageable leverage. The return on equity is modest, highlighting average effectiveness in generating profits from shareholders' equity. The equity ratio is stable, indicating a solid capital base.

Cash Flow

Strong improvements in free cash flow and operating cash flow are evident, indicating the company’s robust cash-generating ability. The operating cash flow to net income ratio shows efficient conversion of earnings into cash, which is a positive indicator for liquidity and financial health.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	10.38B	9.73B	10.48B	11.49B	10.35B	6.76B
Gross Profit	1.70B	1.72B	1.78B	614.24M	1.75B	444.30M
EBITDA	663.92M	735.02M	492.41M	525.72M	486.45M	411.41M
Net Income	187.75M	181.43M	137.50M	134.82M	171.51M	92.88M
Balance Sheet
Total Assets	6.50B	6.13B	5.47B	4.79B	4.29B	3.68B
Cash, Cash Equivalents and Short-Term Investments	352.69M	471.66M	271.98M	200.40M	162.97M	272.91M
Total Debt	3.04B	2.69B	2.48B	2.07B	1.77B	1.41B
Total Liabilities	4.41B	4.12B	3.66B	3.12B	2.74B	2.29B
Stockholders Equity	2.07B	1.99B	1.80B	1.67B	1.55B	1.39B
Cash Flow
Free Cash Flow	-329.43M	263.27M	-185.37M	28.10M	-269.70M	400.23M
Operating Cash Flow	-285.01M	572.16M	263.96M	382.70M	108.05M	473.08M
Investing Cash Flow	-7.92M	-260.62M	-425.70M	-306.62M	-371.21M	-60.61M
Financing Cash Flow	176.08M	-106.15M	226.34M	-74.55M	153.22M	-284.66M

Maheshwari Logistics Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 47.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAHESHWARI, the sentiment is Negative. The current price of 47.55 is above the 20-day moving average (MA) of 42.07, above the 50-day MA of 43.45, and below the 200-day MA of 53.14, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 48.96 is Neutral, neither overbought nor oversold. The STOCH value of 44.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MAHESHWARI.

Maheshwari Logistics Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MAHESHWARI	70 Outperform	₹1.31B	9.09	―	―	2.13%	35.04%
SHAH	66 Neutral	₹4.13B	161.27	―	―	14.91%	-73.10%
MAGNUM	57 Neutral	₹1.24B	151.57	―	―	13.74%	-118.80%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
GAYAPROJ	54 Neutral	₹2.53B	0.03	―	―	―	―
RKEC	49 Neutral	₹821.44M	20.28	―	―	-12.26%	-36.87%
CINEVISTA	43 Neutral	₹902.90M	6.41	―	―	37558.79%	-267.29%

Maheshwari Logistics Ltd. Corporate Events

Maheshwari Logistics Credit Rating Reaffirmed; Outlook Raised to Stable by Brickwork

Maheshwari Logistics Limited announced that Brickwork Ratings India has reaffirmed its credit ratings on the company’s bank facilities, maintaining the long-term rating at BWR A- while revising the outlook from Negative to Stable and confirming the short-term rating at BWR A2+. The review covers bank loan facilities totaling Rs. 292 crore and signals an improvement in the company’s credit profile and business stability, which may enhance its funding flexibility and support its standing with lenders and other stakeholders.