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): 7.0
• Beta (1Y): 0.53
• Revenue Growth: 2.13%
• EPS Growth: 35.04%
• Country: IN
• Employees: 665
• Sector: Services
• Sector Strength: N/A
• Industry: Integrated Freight & Logistics
• EPS (TTM): 1.34
• 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): 1,309.1
• Revenue Forecast (FY): ₹1.32T

• Rating: 69 Neutral
• Price Target: ₹50.00 ▲(5.15% Upside)

The score is supported primarily by solid financial performance—especially strong cash flow—and an attractive low P/E valuation. These positives are partially offset by weak technicals, with the price below key moving averages and negative MACD indicating softer momentum.

Positive Factors

Cash Generation

Robust operating and free cash flow provides durable internal funding for capex, fleet renewal, and working capital needs. Strong cash conversion reduces external financing reliance, enables debt repayment or shareholder returns, and funds strategic tech and network investments.

Diversified Integrated Business Model

An integrated logistics model spanning transport, warehousing, freight forwarding and inventory services diversifies revenue sources and lowers client concentration risk. Technology-driven operations and partnerships with retailers/e-commerce support durable customer retention and scalable service expansion.

Balance Sheet Stability

A moderate debt profile and a stable equity base give the company financial flexibility to invest in assets and weather demand cycles. Manageable leverage lowers refinancing risk and preserves capacity to fund strategic expansion or absorb industry shocks over multiple quarters.

Negative Factors

Low Net Profit Margins

Relatively low net margins constrain retained earnings and the ability to reinvest from operations. Over time, compressed margins reduce the buffer against cost inflation or pricing pressure, limiting capacity to improve returns without structural cost or pricing changes.

Sluggish Revenue Growth

Revenue growth near 2% is modest for a logistics provider operating in growing e-commerce and retail markets. Slow top-line expansion limits the realization of scale economics, delays margin expansion, and constrains the payoff from investments in capacity or technology.

Modest Return on Equity

A modest ROE indicates limited efficiency in converting shareholder capital into profits. Persistently middling returns can restrict internal funding for growth, weaken investor appeal, and signal the need for improved asset productivity or stronger pricing power.

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

Maheshwari Logistics Ltd. generates revenue through multiple streams. The logistics segment, which includes transportation and supply chain management services, is a significant contributor to its income, serving clients across diverse industries. The company also makes money through the trading of coal and other commodities, leveraging its strong distribution network. Additionally, Maheshwari Logistics has a paper manufacturing division that contributes to its revenue, producing and selling paper products. The company's earnings are further supported by strategic partnerships and a diversified client base, which help in maintaining steady revenue flows.

Maheshwari Logistics Ltd. Financial Statement Overview

Summary

Financials are steady overall, supported by strong operating and free cash flow generation (Cash Flow Score 80) and a sound, manageable leverage profile (Balance Sheet Score 70). Profitability is the key constraint, with relatively low net margins and only moderate gross/operating margins despite decent operating efficiency (Income Statement Score 75).

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	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.91B	9.73B	10.48B	11.49B	10.35B	6.76B
Gross Profit	1.71B	1.72B	1.78B	614.24M	1.75B	444.30M
EBITDA	652.87M	735.02M	492.41M	525.72M	486.45M	411.41M
Net Income	188.06M	181.43M	137.50M	134.82M	171.51M	92.88M
Balance Sheet
Total Assets	0.00	6.13B	5.47B	4.79B	4.29B	3.68B
Cash, Cash Equivalents and Short-Term Investments	246.31M	471.66M	271.98M	200.40M	162.97M	272.91M
Total Debt	0.00	2.69B	2.48B	2.07B	1.77B	1.41B
Total Liabilities	-2.01B	4.12B	3.66B	3.12B	2.74B	2.29B
Stockholders Equity	2.01B	1.99B	1.80B	1.67B	1.55B	1.39B
Cash Flow
Free Cash Flow	0.00	263.27M	-185.37M	28.10M	-269.70M	400.23M
Operating Cash Flow	0.00	572.16M	263.96M	382.70M	108.05M	473.08M
Investing Cash Flow	0.00	-260.62M	-425.70M	-306.62M	-371.21M	-60.61M
Financing Cash Flow	0.00	-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 44.55, above the 50-day MA of 47.26, and below the 200-day MA of 55.61, indicating a bearish trend. The MACD of -1.19 indicates Negative momentum. The RSI at 46.33 is Neutral, neither overbought nor oversold. The STOCH value of 42.04 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	69 Neutral	₹1.31B	7.00	―	―	2.13%	35.04%
SHAH	66 Neutral	₹4.28B	27.19	―	―	14.91%	-73.10%
MAGNUM	59 Neutral	₹1.50B	-45.51	―	―	13.74%	-118.80%
RKEC	59 Neutral	₹1.07B	6.69	―	―	-12.26%	-36.87%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
GAYAPROJ	54 Neutral	₹2.30B	1.50	―	―	―	―
CINEVISTA	43 Neutral	₹905.77M	-4.40	―	―	37558.79%	-267.29%