Mahalaxmi Rubtech Ltd (MHLXMIRU) AI Stock Analysis

• Market Cap: ₹2.22B
• Dividend Yield: N/A
• Average Volume (3M): 1.06K
• Price to Earnings (P/E): 11.5
• Beta (1Y): 1.09
• Revenue Growth: -26.45%
• EPS Growth: 57.89%
• Country: IN
• Employees: 236
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Apparel - Manufacturers
• EPS (TTM): 5.53
• Shares Outstanding: 10,620,275
• 10 Day Avg. Volume: 876
• 30 Day Avg. Volume: 1,061
• PEG Ratio: 0.27
• Price to Book (P/B): 3.43
• Price to Sales (P/S): 2.56
• P/FCF Ratio: 19.98
• 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: 73 Outperform
• Price Target: ₹215.00 ▲(4.80% Upside)

Mahalaxmi Rubtech Ltd shows strong financial health with a stable balance sheet and efficient debt management, contributing significantly to its overall score. The technical analysis indicates a bullish trend, supporting a positive outlook. The valuation suggests reasonable pricing, although the lack of a dividend yield may deter income-focused investors. The absence of earnings call and corporate events data limits further insights.

Positive Factors

High gross margins

Gross margins consistently above 30% indicate durable cost control and pricing power in manufacturing. This structural profitability provides a buffer against input-cost inflation, supports operating leverage, and enables sustained reinvestment in capacity and product quality over the medium term.

Strong balance sheet and low leverage

A persistent equity ratio above 40% and low debt-to-equity reflect conservative leverage and financial flexibility. This reduces refinancing and solvency risk, preserves capacity for capital expenditure or strategic investments, and improves resilience through cyclical industry downturns.

Positive free cash flow

Consistent positive free cash flow signals effective cash generation and internal funding capacity. Over the medium term this reduces reliance on external financing, supports organic growth initiatives, and provides the company with the flexibility to prioritize capex, working capital, or opportunistic investments.

Negative Factors

Declining revenue trend

A roughly 26% revenue decline is a structural concern for scale economics and margin leverage. Sustained top-line contraction can erode fixed-cost coverage, constrain reinvestment, and may reflect weakening demand or market-share loss, making medium-term profitability recovery more challenging.

Volatile margins and cash conversion

Observed swings in net profit margins and uneven cash flow growth point to inconsistent earnings quality and cash conversion. This variability complicates budgeting and capital allocation, raises execution risk for expansion plans, and weakens predictability of returns over the next several quarters.

No dividend yield / limited distributions

The lack of a dividend yield indicates retained-earnings focus rather than cash returns, which narrows appeal to income-oriented investors and can limit investor base breadth. Long-term shareholder returns thus rely heavily on execution and growth, increasing performance expectations.

Mahalaxmi Rubtech Ltd Business Overview & Revenue Model

Company Description

Mahalaxmi Rubtech Limited manufactures and sells traditional and technical textile products in India. The company operates through Rubber/Technical Textiles Products and Textile Products segments. It offers offset printing blankets; rubber textile printing blankets and coated fabrics; and rubber coated fabrics. The company also provides hydraulic seals, including single acting piston/rod seals, double acting piston seals, wiper dust seals, O-rings, wear rings, and anti-extrusion rings; air cells; technical textiles; and dyes, pigments, and auxiliaries. In addition, it exports its products. Mahalaxmi Rubtech Limited was incorporated in 1991 and is based in Ahmedabad, India.

How the Company Makes Money

Mahalaxmi Rubtech Ltd generates revenue primarily through the sale of its rubber products to various industries. The company operates on a business-to-business (B2B) model, supplying its products to manufacturers and distributors. Key revenue streams include direct sales from product orders, long-term contracts with major clients, and customized solutions that cater to specific customer needs. Additionally, Mahalaxmi Rubtech Ltd may benefit from strategic partnerships with other firms in the supply chain, enhancing its market reach and operational efficiency. Factors contributing to its earnings include strong demand for rubber components in the automotive and industrial sectors, effective cost management, and a focus on research and development to innovate new product offerings.

Mahalaxmi Rubtech Ltd Financial Statement Overview

Summary

Mahalaxmi Rubtech Ltd demonstrates solid financial health with strong gross margins and a stable balance sheet. The company manages its debt well and maintains a strong equity position, minimizing financial risk. However, the variability in net profit margins and cash flow growth indicates potential volatility and room for improvement in financial consistency.

Income Statement

Mahalaxmi Rubtech Ltd has demonstrated a strong gross profit margin, consistently above 30%, indicating efficient cost management. However, the net profit margin has been fluctuating, showing both resilience and vulnerability to market conditions. Revenue growth has been uneven, with significant increases in some years, suggesting potential volatility. Overall, the company shows good profitability, though with some variance in income stability.

Balance Sheet

The company maintains a healthy equity ratio, consistently over 40%, suggesting a strong equity base. The debt-to-equity ratio is low, indicating conservative leverage use, which reduces financial risk. However, the return on equity has shown inconsistency, reflecting varying profitability against equity. Overall, the balance sheet reflects financial stability and prudent management of liabilities.

Cash Flow

Mahalaxmi Rubtech Ltd exhibits positive free cash flow, a sign of effective cash management and ability to fund operations and investments. The operating cash flow to net income ratio indicates sound cash generation relative to earnings, though some years reflect lower cash conversion efficiency. Cash flow growth rates have been mixed, with periods of decline, pointing to potential fluctuations in cash generation.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	965.76M	921.22M	769.74M	689.99M	1.94B	1.37B
Gross Profit	464.80M	350.80M	305.67M	1.24B	345.13M	316.32M
EBITDA	287.81M	267.39M	199.55M	179.32M	225.56M	203.74M
Net Income	179.57M	167.77M	110.34M	84.43M	72.88M	60.74M
Balance Sheet
Total Assets	0.00	984.77M	822.31M	2.10B	1.92B	1.73B
Cash, Cash Equivalents and Short-Term Investments	326.14M	281.93M	218.90M	107.57M	375.71M	367.32M
Total Debt	0.00	146.21M	160.29M	558.54M	549.46M	383.48M
Total Liabilities	-687.27M	295.01M	293.43M	1.23B	1.13B	789.24M
Stockholders Equity	687.27M	687.27M	528.87M	873.16M	786.71M	942.63M
Cash Flow
Free Cash Flow	1.87M	117.86M	137.98M	10.90M	17.45M	95.12M
Operating Cash Flow	21.97M	146.85M	166.48M	61.03M	83.85M	164.57M
Investing Cash Flow	-21.36M	-105.22M	-82.94M	90.50M	-125.94M	-170.92M
Financing Cash Flow	23.89M	-14.08M	-37.44M	-56.49M	-9.54M	8.25M

Mahalaxmi Rubtech Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 205.15
• 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:MHLXMIRU, the sentiment is Negative. The current price of 205.15 is above the 20-day moving average (MA) of 199.22, below the 50-day MA of 210.33, and below the 200-day MA of 218.12, indicating a bearish trend. The MACD of -2.47 indicates Negative momentum. The RSI at 44.14 is Neutral, neither overbought nor oversold. The STOCH value of 71.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MHLXMIRU.

Mahalaxmi Rubtech Ltd Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MHLXMIRU	73 Outperform	₹2.22B	11.49	―	―	-26.45%	57.89%
OCCL	72 Outperform	₹1.17B	10.38	―	10.99%	-76.65%	-76.77%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MODIRUBBER	57 Neutral	₹3.12B	18.50	―	―	31.62%	-23.04%
KESORAMIND	52 Neutral	₹2.96B	0.05	―	―	-91.62%	―
ARCHIDPLY	49 Neutral	₹1.70B	35.24	―	―	35.50%	―

Mahalaxmi Rubtech Ltd Corporate Events

Mahalaxmi Rubtech Ltd Announces Resignation of Company Secretary

Mahalaxmi Rubtech Limited announced the resignation of CS Kalpana Kumari from her role as Company Secretary and Compliance Officer, effective November 15, 2025. This change is due to her pursuit of better career opportunities and is expected to impact the company’s administrative operations while they seek a suitable replacement.