Maithan Alloys Ltd. (MAITHANALL) AI Stock Analysis

• Market Cap: ₹32.02B
• Dividend Yield: 1.67%
• Average Volume (3M): 3.24K
• Price to Earnings (P/E): 4.5
• Beta (1Y): 1.25
• Revenue Growth: 21.44%
• EPS Growth: -46.24%
• Country: IN
• Employees: 521
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): -41.55
• Shares Outstanding: 29,111,550
• 10 Day Avg. Volume: 2,509
• 30 Day Avg. Volume: 3,238
• PEG Ratio: 0.05
• Price to Book (P/B): 0.70
• Price to Sales (P/S): 1.46
• P/FCF Ratio: 134.07
• 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: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ₹1,081.00 ▲(12.59% Upside)

Maithan Alloys Ltd. has a strong financial foundation with robust profitability and a solid balance sheet, contributing positively to its overall score. However, technical analysis indicates bearish momentum, which is a significant risk factor. The stock's attractive valuation with a low P/E ratio suggests potential undervaluation, balancing some of the technical concerns.

Positive Factors

Strong Financial Health

A robust balance sheet with low leverage and high equity indicates financial stability and the ability to withstand economic fluctuations, supporting long-term growth.

Revenue Growth

Consistent revenue growth demonstrates the company's expanding market reach and the increasing demand for its ferro alloy products, which are essential for steel production.

Profitability

Improved profitability margins indicate effective cost management and strong bottom-line growth, enhancing the company's financial resilience and shareholder value.

Negative Factors

Operational Efficiency Concerns

A decline in EBIT margin suggests operational challenges that could impact profitability if not addressed, highlighting the need for improved efficiency.

Cash Flow Generation

Weak cash flow generation relative to net income may limit the company's ability to reinvest in growth opportunities and manage financial obligations effectively.

EPS Growth Decline

A decline in EPS growth can signal potential challenges in maintaining profitability and shareholder returns, necessitating strategic adjustments to enhance earnings.

Maithan Alloys Ltd. Business Overview & Revenue Model

Company Description

Maithan Alloys Ltd. (MAITHANALL) is a leading manufacturer of ferro alloys in India, primarily focused on the production of ferro manganese and silico manganese. The company operates in the steel and alloy sectors, catering to the needs of steel manufacturers and other industries that require high-quality alloying materials. With a commitment to quality and sustainability, Maithan Alloys serves both domestic and international markets, contributing significantly to the metallurgical industry.

How the Company Makes Money

Maithan Alloys generates revenue primarily through the sale of its ferro alloys, which are essential components in the steel production process. The company has established key revenue streams from bulk sales to various steel manufacturers, both in India and overseas. Additionally, Maithan Alloys benefits from long-term contracts with major clients, ensuring a steady demand for its products. The company may also engage in value-added services, such as customized alloy solutions, which can enhance its profitability. Strategic partnerships with raw material suppliers and logistics firms further contribute to cost efficiency and market reach, ultimately supporting its earnings.

Maithan Alloys Ltd. Financial Statement Overview

Summary

Maithan Alloys Ltd. demonstrates strong financial health with robust profitability and a solid balance sheet. The income statement shows strong revenue growth and profitability, though operational efficiency could be improved. The balance sheet is strong with low leverage and high equity, while cash flow generation from operations remains an area for improvement.

Income Statement

Maithan Alloys Ltd. shows a solid income statement with consistent revenue growth and strong profitability metrics. The gross profit margin improved from 17.96% to 21.22%, indicating efficient cost management. The net profit margin also increased from 20.19% to 34.89%, reflecting robust bottom-line growth. However, a notable decrease in EBIT margin from 15.56% to 8.48% may indicate some operational challenges. Overall, the company demonstrates strong revenue and profit growth, though operational efficiency could be improved.

Balance Sheet

The balance sheet of Maithan Alloys Ltd. is robust, with a strong equity position and low leverage. The debt-to-equity ratio is low at 0.16, showcasing minimal reliance on debt financing. The return on equity is impressive at 16.82%, indicating effective utilization of shareholders' funds. The equity ratio stands at 77.28%, highlighting a stable financial structure with a high proportion of assets financed by equity. The company maintains a healthy balance sheet with low financial risk.

Cash Flow

Cash flow analysis reveals some challenges, despite an improvement in free cash flow from negative to positive $196 million. The operating cash flow to net income ratio is low at 0.08, suggesting that cash generation from operations is not keeping pace with net income. The free cash flow to net income ratio is also modest at 0.03. While the positive shift in free cash flow is a positive trend, operational cash flow generation remains an area for improvement.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	20.63B	18.06B	17.29B	28.85B	29.17B	15.78B
Gross Profit	4.46B	3.83B	3.15B	9.28B	13.78B	3.97B
EBITDA	10.29B	8.97B	4.71B	6.61B	11.03B	3.18B
Net Income	7.10B	6.30B	3.49B	4.99B	8.18B	2.31B
Balance Sheet
Total Assets	0.00	48.49B	34.68B	31.40B	27.51B	18.98B
Cash, Cash Equivalents and Short-Term Investments	20.39B	20.39B	18.05B	19.68B	9.19B	8.17B
Total Debt	0.00	5.88B	302.10M	197.70M	52.00M	486.90M
Total Liabilities	-37.55B	10.94B	3.25B	3.35B	4.27B	3.77B
Stockholders Equity	37.55B	37.46B	31.42B	28.04B	23.23B	15.22B
Cash Flow
Free Cash Flow	0.00	196.00M	-4.80B	9.57B	1.20B	1.16B
Operating Cash Flow	0.00	497.70M	-4.11B	9.68B	2.37B	1.17B
Investing Cash Flow	0.00	-5.91B	3.71B	-9.62B	-1.05B	-7.61B
Financing Cash Flow	0.00	5.22B	-86.90M	-51.00M	-621.00M	370.80M

Maithan Alloys Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 960.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAITHANALL, the sentiment is Negative. The current price of 960.15 is below the 20-day moving average (MA) of 1033.23, below the 50-day MA of 1086.17, and below the 200-day MA of 1041.70, indicating a bearish trend. The MACD of -40.10 indicates Positive momentum. The RSI at 33.71 is Neutral, neither overbought nor oversold. The STOCH value of 22.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MAITHANALL.

Maithan Alloys Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KSL	76 Outperform	₹37.16B	14.24	―	1.30%	-0.46%	4.85%
IMFA	76 Outperform	₹66.39B	18.55	―	1.11%	-6.18%	-23.70%
VSSL	75 Outperform	₹28.50B	26.61	―	1.06%	-1.47%	-15.20%
MAITHANALL	68 Neutral	₹32.02B	4.51	―	1.67%	21.44%	-46.24%
SUNFLAG	62 Neutral	₹47.73B	24.26	―	0.29%	6.44%	36.54%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
JAYNECOIND	57 Neutral	₹73.49B	19.51	―	―	20.00%	1413.14%

Maithan Alloys Ltd. Corporate Events

Maithan Alloys Acquires Stake in NBCC (India) Limited

Maithan Alloys Limited has announced the acquisition of equity shares of NBCC (India) Limited, a government-owned enterprise specializing in civil construction and project management consultancy. The acquisition, completed on October 24, 2025, involves 442,400 shares, representing a 0.02% stake, at a total cost of Rs. 4.96 Crore. This strategic investment is intended to reap long-term and short-term benefits without seeking control over NBCC’s management.

Maithan Alloys Acquires Stake in NBCC (India) Limited

Maithan Alloys Limited has acquired 0.04% equity shares of NBCC (India) Limited, a government-owned enterprise specializing in civil construction and project management consultancy, through a stock exchange transaction. This acquisition, completed on October 20, 2025, is intended as an investment without any intention to control NBCC’s management. The acquisition, valued at Rs. 12.27 Crore, is a strategic move to enhance Maithan Alloys’ investment portfolio, reflecting its interest in diversifying its holdings in the civil construction sector.

Maithan Alloys Acquires Stake in NBCC (India) Limited

Maithan Alloys Limited has announced the acquisition of equity shares in NBCC (India) Limited, a government-owned enterprise specializing in civil construction and project management consultancy. The acquisition, valued at Rs. 19.92 Crore, represents a 0.06% shareholding and is intended as an investment to gain long-term and short-term benefits without seeking control over NBCC’s management.

Maithan Alloys Ltd. Suspends Byrnihat Unit Operations Indefinitely

Maithan Alloys Ltd. announced the indefinite closure of its Byrnihat unit in Meghalaya due to adverse market conditions and a significant increase in power costs. This suspension of production, effective from September 22, 2025, reflects the challenges faced by the company in maintaining operations amidst rising expenses, potentially impacting its market positioning and stakeholders.