Maharashtra Scooters Limited
NSE: MAHSCOOTERInvestment Company
Share price
₹12,048.00
-1.58% close of 8 Oct 2026
Business score
How strong the business is, in one number. The parts behind it are in Pro.
57
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹13,253 Cr
P/E ratio
47.6
P/B ratio
0.5
ROCE
1.1%
ROE
1.1%
Dividend yield
1.8%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Our sales figures for this company step down at Dec 2025 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.
Whether it grew faster than its sector
Our sales figures for this company step down at Dec 2025 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.
Room to re-rate, or risk of de-rating
At 47.6× earnings it costs 2.0× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 24.0×, across 5 companies. It is against its own five-year median of 42.9×, the 65th percentile of its own range.
Whether growth justifies the valuation
Priced at 2.8 times its growth rate, on earnings growth of 17%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Maharashtra Scooters Limited — this one | 17%/yr | 47.6× | ₹2.8 |
| Jio Financial Services Limited | 293%/yr | 64.9× | — |
| Aditya Birla Capital Limited | -7%/yr | 24.0× | — |
| Tata Investment Corporation Limited | 20%/yr | 72.1× | ₹3.6 |
| Cholamandalam Financial Holdings Limited | 24%/yr | 9.8× | ₹0.41 |
| TVS Holdings Limited | 40%/yr | 11.6× | ₹0.29 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Investment Company), it ranks 24 of 38 on returns, 8 of 34 on growth, 1 of 39 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 1.1% on capital, ahead of 37% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹960 crore of cash from the business, spent ₹63 crore on plant and equipment, and returned ₹900 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 58 arrived as cash. Its cash comes back faster than it used to: it went from being waiting 31 days for its cash to waiting 13 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
Not enough filed accounts to run these checks yet.
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 29 Jul 2026 · Standalone
Revenue
₹5 Cr
Revenue vs last year
-81.5%
Revenue vs last quarter
-10.3%
Net profit
₹3 Cr
Profit vs last year
-90.6%
Profit vs last quarter
-17.2%
Net margin
61.4%
EPS
₹2.91
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹13,253 Cr
- Prev close
- ₹12,048.00
- 52w High
- ₹17,733
- 52w Low
- ₹10,901
- Enterprise value
- ₹13,245 Cr
- Beta
- 1.2
- Price CAGR 1y
- -27.0%
- Price CAGR 3y
- 18.0%
- Price CAGR 5y
- 21.0%
- Price CAGR 10y
- 23.0%
Ratios
- Return on assets
- 1.0%
- PEG ratio
- 2.9
- P/E ratio
- 47.6
- P/B ratio
- 0.5
- EV / EBITDA
- 46.5
- Industry P/E
- 22.9
- ROCE
- 1.1%
- ROCE 5y average
- 1.0%
- ROE
- 1.1%
- Debt / Equity
- 0.0
- Interest coverage
- —
- Dividend yield
- 1.8%
- ROE 3y average
- 1.0%
- ROE last year
- 1.0%
Annual P&L
- Annual revenue
- ₹313 Cr
- Annual profit
- ₹311 Cr
- Operating margin
- 99.0%
- Net profit margin
- 99.4%
- EBITDA margin
- 98.7%
- Sales growth 3y
- 13.0%
- Sales growth 5y
- 59.8%
- Profit growth 3y
- 17.0%
- Profit growth 5y
- 104.0%
- EPS
- ₹272
- Sales growth TTM
- 41.0%
- Profit growth TTM
- 44.0%
- Dividend payout
- 81.0%
Quarter P&L
- Sales latest quarter
- ₹5 Cr
- Profit latest quarter
- ₹3 Cr
- YoY quarterly sales growth
- -81.5%
- YoY quarterly profit growth
- -90.6%
- OPM latest quarter
- 84.1%
Balance Sheet
- Book Value
- ₹25,122
- Face Value
- ₹10.0
- Total debt
- ₹0 Cr
- Total cash
- ₹8 Cr
- Borrowings
- ₹0 Cr
- Reserves / Equity
- 2511.2
Cash Flow
- Operating cash flow
- ₹267 Cr
- Free cash flow
- ₹267 Cr
- FCF yield
- 2.0%
- Net cash flow
- -₹2 Cr
Shareholding
- Promoter holding
- 51.0%
- FII holding
- 6.2%
- DII holding
- 3.9%
- Public holding
- 39.0%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Jio Financial | 214.00 | 68.4 | 1,41,307 | 0.28 | 830.3 | 174.4 | 2,004.5 | 227.3 | 1.9 |
| Aditya Birla Cap | 371.70 | 25.3 | 1,01,766 | 0.00 | 1,223.9 | 40.1 | 12,179.5 | 28.2 | 8.7 |
| Tata Inv.Corpn. | 609.40 | 71.5 | 30,833 | 0.55 | 143.5 | -1.9 | 151.7 | 4.3 | 1.6 |
| Chola Financial | 1,393.00 | 9.8 | 26,157 | 0.09 | 1,789.0 | 39.3 | 11,113.6 | 19.6 | 9.8 |
| TVS Holdings | 11,626.25 | 11.8 | 23,522 | 0.73 | 1,173.6 | 81.9 | 17,076.2 | 34.0 | 16.9 |
| Mah. Scooters | 12,200.05 | 50.1 | 13,943 | 1.80 | 3.3 | -90.6 | 5.4 | -81.5 | 1.1 |
| JSW Holdings | 11,233.00 | 99.6 | 12,469 | 0.00 | 21.5 | 9.2 | 34.6 | 15.0 | 0.5 |
| Median | 450.05 | 25.3 | 1,004 | 0.00 | 10.9 | 17.1 | 10.1 | 22.3 | 1.6 |
Competes with: 3P Land Holdings Limited, Aditya Birla Capital Limited, BEML Land Assets Limited, BLB Limited, Blue Chip India Limited, Cholamandalam Financial Holdings Limited, DCM Financial Services Limited, EL CID Investments Limited, GKW Limited, Hexa Tradex Limited, Industrial & Prudential Investment Company Limited, Industrial Investment Trust Limited, JSW Holdings Limited, Jindal Photo Limited, Jindal Poly Investment and Finance Company Limited, Jio Financial Services Limited, Kalyani Investment Company Limited, Lakshmi Finance & Industrial Corporation Limited, Mask Investments Limited, Nagreeka Capital & Infrastructure Limited, Nahar Capital and Financial Services Limited, Nalwa Sons Investments Limited, Oswal Greentech Limited, PNB Gilts Limited, Paras Petrofils Limited, Pilani Investment and Industries Corporation Limited, Religare Enterprises Limited, SIL Investments Limited, Shipping Corporation of India Land and Assets Limited, Stel Holdings Limited, Summit Securities Limited, TSF INVESTMENTS LIMITED, TVS Holdings Limited, Tata Investment Corporation Limited, VLS Finance Limited, Vardhman Holdings Limited, Welspun Investments and Commercials Limited, Williamson Magor & Company Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 5.26 | 206 | 6.37 | 5.18 | 7.72 | 163 | 5.79 | 6.65 | 29 | 271 | 6.44 | 6.03 | 5.41 |
| Expenses | 4.05 | 5.61 | 5.16 | 4.49 | 5.74 | 2.22 | 1.70 | 1.90 | 1.08 | 1.22 | 0.88 | 1.05 | 0.86 |
| Material Cost | 0.44 | 0 | 0 | 0 | 0 | 0 | |||||||
| Change in Inventories | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 0.05 | 0.16 | 0.13 | 0.24 | 0.22 | 0.22 | |||||||
| Other Expenses | 1.41 | 0.92 | 1.09 | 0.64 | 0.83 | 0.64 | |||||||
| Operating Profit | 1.21 | 200 | 1.21 | 0.69 | 1.98 | 161 | 4.09 | 4.75 | 28 | 270 | 5.56 | 4.98 | 4.55 |
| OPM % | 23 | 97 | 19 | 13 | 26 | 99 | 71 | 71 | 96 | 100 | 86 | 83 | 84 |
| Other Income | 0 | 0.11 | 0.70 | 0 | -13 | 0.22 | 0.70 | 58 | 0 | 0 | 0 | 0.48 | 0 |
| Exceptional items (within Other Income) | 58 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.52 | 0.52 | 0.51 | 0.52 | 0.52 | 0.48 | 0.48 | 0.48 | 0.01 | 0 | 0.01 | 0 | 0 |
| Profit before tax | 0.69 | 200 | 1.40 | 0.17 | -12 | 161 | 4.31 | 62 | 28 | 270 | 5.55 | 5.46 | 4.55 |
| Tax % | 30 | 1.09 | 29 | 41 | -170 | 5.93 | 23 | 17 | -25 | 1.01 | 26 | 27 | 27 |
| Net Profit | 0.48 | 198 | 1 | 0.10 | 8.26 | 151 | 3.30 | 52 | 35 | 267 | 4.12 | 4.01 | 3.32 |
| EPS in Rs | 0.42 | 173 | 0.87 | 0.09 | 7.23 | 132 | 2.89 | 45 | 31 | 234 | 3.60 | 3.51 | 2.90 |
| Diluted EPS in Rs | 45 | 31 | 234 | 3.60 | 3.50 | 2.91 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7 | 9 | 8 | 82 | 95 | 211 | 30 | 194 | 217 | 223 | 183 | 313 | 289 |
| Expenses | 12 | 15 | 14 | 20 | 20 | 20 | 20 | 20 | 23 | 19 | 12 | 4 | 4 |
| Material Cost | 0.66 | 0 | |||||||||||
| Change in Inventories | 2.50 | 0 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 2.97 | 0.75 | |||||||||||
| Other Expenses | 5.43 | 3.48 | |||||||||||
| Operating Profit | -5 | -6 | -6 | 61 | 75 | 191 | 11 | 174 | 194 | 203 | 173 | 309 | 285 |
| OPM % | -72 | -72 | -69 | 75 | 79 | 90 | 35 | 90 | 90 | 91 | 94 | 99 | 99 |
| Other Income | 63 | 108 | 21 | 1 | 1 | 3 | 0 | 0 | 1 | 1 | 44 | 0 | 0 |
| Exceptional items (within Other Income) | 44 | 0 | |||||||||||
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 1.96 | 0.02 | 0 |
| Profit before tax | 55 | 101 | 14 | 61 | 74 | 192 | 9 | 172 | 193 | 202 | 215 | 309 | 285 |
| Tax % | 0 | 0 | 9 | 1 | 2 | 6 | 3 | 17 | -1 | 1 | 0 | -1 | |
| Net Profit | 55 | 101 | 13 | 61 | 73 | 180 | 9 | 143 | 195 | 199 | 214 | 311 | 279 |
| EPS in Rs | 48 | 88 | 11 | 53 | 64 | 157 | 7.71 | 125 | 171 | 174 | 188 | 272 | 244 |
| Diluted EPS in Rs | 188 | 272 | |||||||||||
| Dividend Payout % | 63 | 34 | 262 | 62 | 52 | 32 | 649 | 64 | 94 | 97 | 75 | 81 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 43%
- 5 years
- 60%
- 3 years
- 13%
- TTM
- 41%
Compounded profit growth
- 10 years
- 12%
- 5 years
- 104%
- 3 years
- 17%
- TTM
- 44%
Stock price CAGR
- 10 years
- 23%
- 5 years
- 21%
- 3 years
- 18%
- 1 year
- -27%
Return on equity
- 10 years
- 1%
- 5 years
- 1%
- 3 years
- 1%
- Last year
- 1%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 241 | 301 | 6,541 | 8,214 | 11,312 | 8,199 | 16,232 | 22,842 | 19,031 | 27,005 | 30,851 | 27,623 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 66 | 25 | 20 | 18 | 391 | 14 | 1,036 | 1,846 | 1,355 | 2,377 | 3,725 | 3,156 |
| Total Liabilities | 318 | 337 | 6,572 | 8,243 | 11,714 | 8,225 | 17,280 | 24,699 | 20,398 | 29,394 | 34,588 | 30,791 |
| Fixed Assets | 4 | 7 | 7 | 13 | 15 | 15 | 14 | 13 | 12 | 10 | 0 | 0 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 271 | 280 | 6,511 | 8,196 | 11,680 | 8,080 | 17,189 | 24,654 | 20,364 | 29,362 | 34,563 | 30,759 |
| Other Assets | 43 | 50 | 54 | 34 | 20 | 130 | 76 | 33 | 22 | 22 | 24 | 32 |
| Total Assets | 318 | 337 | 6,572 | 8,243 | 11,714 | 8,225 | 17,280 | 24,699 | 20,398 | 29,394 | 34,588 | 30,791 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -10 | -8 | -33 | 1 | 1 | -7 | -6 | 119 | 209 | 206 | 159 | 267 |
| Cash from Investing Activity | 41 | 81 | 35 | 40 | 45 | 195 | -68 | -62 | -3 | -12 | 36 | -19 |
| Cash from Financing Activity | -33 | -80 | -2 | -41 | -45 | -113 | -1 | -58 | -205 | -194 | -193 | -250 |
| Net Cash Flow | -2 | -6 | 0 | 0 | -0 | 75 | -75 | -0 | 0 | 0 | 1 | -2 |
| Free Cash Flow | -10 | -12 | -34 | -5 | -2 | -9 | -6 | 119 | 207 | 206 | 224 | 267 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 137 | 99 | 95 | 15 | 14 | 8 | 82 | 19 | 11 | 3 | 0 | 0 |
| Inventory Days | 134 | 42 | 111 | 57 | 72 | 163 | ||||||
| Days Payable | 27 | 37 | 40 | 40 | 8 | 99 | ||||||
| Cash Conversion Cycle | 243 | 104 | 166 | 33 | 78 | 8 | 146 | 19 | 11 | 3 | 0 | 0 |
| Working Capital Days | -2,141 | -203 | -43 | 1 | 4 | 4 | 103 | 31 | 10 | 7 | -35 | 13 |
| ROCE % | 20 | 35 | 0 | 1 | 1 | 2 | 0 | 1 | 1 | 1 | 1 | 1 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
-7.58inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
62,60,00,000inr
2026-03-31
News
News and filings about Maharashtra Scooters Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- 3P Land Holdings Limited
- Aditya Birla Capital Limited
- BEML Land Assets Limited
- BLB Limited
- Blue Chip India Limited
- Cholamandalam Financial Holdings Limited
- DCM Financial Services Limited
- EL CID Investments Limited
- GKW Limited
- Hexa Tradex Limited
- Industrial & Prudential Investment Company Limited
- Industrial Investment Trust Limited
- JSW Holdings Limited
- Jindal Photo Limited
- Jindal Poly Investment and Finance Company Limited
- Jio Financial Services Limited
- Kalyani Investment Company Limited
- Lakshmi Finance & Industrial Corporation Limited
- Mask Investments Limited
- Nagreeka Capital & Infrastructure Limited
- Nahar Capital and Financial Services Limited
- Nalwa Sons Investments Limited
- Oswal Greentech Limited
- PNB Gilts Limited
- Paras Petrofils Limited
- Pilani Investment and Industries Corporation Limited
- Religare Enterprises Limited
- SIL Investments Limited
- Shipping Corporation of India Land and Assets Limited
- Stel Holdings Limited
Uses as raw material
- power, fuel and water
- raw materials and bought-out items (die-casting)
- stores and tools
Sells to
- Bajaj Auto · pressure dies, jigs, fixtures and die-casting / tool-room components for the automobile in…
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Financial Services
- Industry
- Investment Company
- Classification
- Financial Services › Investment Company
- ISIN
- INE288A01013
Plants
- Satara Die-Casting Factory
News impact
Big market events that reach Maharashtra Scooters Limited, and how the effect spreads.
2 Oct, 12:56 IST · Market event · medium impact
Maharashtra is India’s launchpad; 43% of Adani Group’s ₹6 lakh crore blueprint completed or underway, says Pranav Adani
Pranav Adani said 43% of the group's Rs 6 lakh crore Maharashtra plan is done or underway, mildly supporting Adani shares while leaving unrelated Maharashtra-name and telecom stocks untouched.
Who it hits first
- Pranav Adani said at the Invest Maharashtra event in Mumbai that 43% of the Adani Group's Rs 6 lakh crore Maharashtra blueprint — covering energy, aviation areas, city rebuilding, data centres, and coal gasification — is finished or under construction.
- That is a progress update, not a new order: it supports confidence in Adani Enterprises, the group's project nest, and Adani Ports, its ports-and-logistics arm, without adding fresh revenue today.
- Companies merely sharing the Maharashtra or Pranav name — a bank, a scooter-investment firm, a pipe maker, a phone company, and a tiny builder — get no business from this statement.
Who may gain
- Adani Enterprises, the group flagship that houses new projects — execution credibility improves
- Adani Ports & SEZ, the ports-and-logistics arm — Maharashtra build-out supports volume outlook
- Listed port peers such as JSW Infrastructure — small sentiment readthrough, no new orders
Along the supply chain
Downstream
No direct downstream change — port users, power buyers, and tenants see no price or capacity shift from a progress statement.
Upstream
No direct upstream change yet — steel, cement, and equipment orders move only when new tenders under the pending 57% are actually placed.
Where demand moves
Business
No new business demand today — the statement confirms work already counted (43% done or underway) rather than fresh contracts; real orders for builders and equipment makers arrive only as the remaining 57% gets tendered.
Capital
Capital mood improves slightly for Adani Enterprises and Adani Ports as execution risk looks lower, likely small buying; banks and other Maharashtra-name stocks see no funding impact.
How it spreads across sectors
Construction
Mildly positive mood for Maharashtra-linked builders as Adani execution looks on track; no new tenders yet.
Oil, Gas & Consumable Fuels
Neutral-to-mild as coal gasification stays a long-dated plan with no near-term volumes.
Services
Small sentiment support for ports and logistics on the aviation and trade-district push.
When it plays out
Immediate
1–7 days: small sympathy buying in Adani Enterprises and Adani Ports; unrelated Maharashtra-name stocks flat.
Medium term
1–6 months: earnings impact only if the pending 57% converts into awarded work and port or energy volumes.
Short term
1–4 weeks: attention turns to project-level awards and funding; statement effect fades without new tenders.
23 Sept, 01:42 IST · Market event · medium impact
Maharashtra drought deepens, crisis mounts
Maharashtra's deepening drought cuts farm incomes and village spending, squeezing everyday-goods sellers and the state's farm lenders, with no clear winners.
Who it hits first
- Drought is getting worse across Maharashtra, cutting crop harvests and leaving farming families with less money.
- Village shops and sellers of everyday goods, like Hindustan Unilever, the consumer-goods maker with a Mumbai factory, sell less as rural spending shrinks.
- Bank of Maharashtra, the state-focused lender, faces slower loan demand and harder farm-loan collection in the coming weeks.
- Steel-pipe maker Maharashtra Seamless and phone firm Tata Teleservices (Maharashtra) have little direct exposure beyond their Maharashtra names.
Who may gain
- No clear beneficiaries — this drought hurts farm incomes and village spending with no offsetting winners in the pack.
Along the supply chain
Downstream
Village retailers, consumer-goods distributors and food processors move lower volumes as harvests shrink and household budgets tighten; pipe and telecom lines see no direct supply-chain change.
Upstream
Suppliers of seeds, fertiliser and farm equipment face weaker village orders as sowing prospects and crop incomes worsen.
Where demand moves
Business
Village households spend less on everyday goods, two-wheelers and farm inputs, so consumer-goods sellers, vehicle makers like Bajaj Auto (linked to Maharashtra Scooters) and tractor sellers see weaker rural orders.
Capital
Investors turn cautious on Maharashtra rural-exposed lenders like Bank of Maharashtra and consumer shares, with money pausing rather than rotating to clear winners.
How it spreads across sectors
Automobile and Auto Components
Tractor and two-wheeler demand softens as farm incomes fall (Mahindra makes SUVs and tractors in Mumbai; Bajaj Auto links to Maharashtra Scooters).
FMCG
Lower village spending cuts sales of soaps, food and household goods.
Financial Services
Farm-loan repayment and rural credit demand weaken for state-focused lenders.
Power
Low water levels threaten small hydro output such as Tata Power's 72 MW Bhivpuri plant.
A pattern seen before
Cascade chain
- Drought deepens in Maharashtra → crop output and farm incomes fall
- Farm incomes fall → village spending on everyday goods and two-wheelers drops
- Rural demand drops → FMCG volumes and farm-loan collections weaken
Pattern name
Monsoon Cascade
Patterns
- Monsoon Cascade
Sectors queried
When it plays out
Immediate
1–7 days: negative sentiment on rural-exposed consumer and lender shares; no physical supply shock yet.
Medium term
1–6 months: damage deepens if rains fail further, but good rain or relief packages could reverse most losses.
Short term
1–4 weeks: weaker village sales and slower farm-loan collections show in dealer and bank data.
15 Sept, 20:44 IST · Market event · medium impact
Dividend Alert: This Bajaj Group Firm Declares Rs 160/Share Payout; Check Record Date
Maharashtra Scooters, a Bajaj group investment firm, will pay shareholders Rs 160 per share, so its investors gain cash while the share price will dip by a similar amount on the record date; rival holding companies see no real change.
Who it hits first
- Maharashtra Scooters pays Rs 160 cash per share to holders on record Sep 21; cum-dividend buying into the date, then a mechanical ex-date price markdown of a similar sum.
- Mild positive sentiment: repeats last year's identical payout, signalling continued cash strength; no new business development.
Who may gain
- MAHSCOOTER shareholders of record receive certain cash.
- Fellow listed holding companies (Tata Investment, JSW Holdings, Cholamandalam Holdings, TVS Holdings) get faint sentiment only — no cash, orders or business transfer.
Along the supply chain
Downstream
No downstream effect — no customers, no product, no pricing impact anywhere in any chain.
Upstream
No supply-chain link — Maharashtra Scooters is an investment company with no suppliers; nothing upstream gains or loses.
Where demand moves
Business
No goods or services change hands — a pure cash-distribution event with no demand created or destroyed.
Capital
Tiny yield-seeking inflow into MAHSCOOTER cum-dividend; no sector rotation — Financial Services money has no reason to move on one small holding firm's payout.
How it spreads across sectors
Financial Services
Negligible — a single holding-company dividend does not move sector earnings, flows or valuations; at most a faint warm glow for the listed holding-company basket.
Commodity angle
Cc skip reason
no_commodity_link
When it plays out
Immediate
1-7 days: cum-dividend support into Sep 21 record date (+1-2% possible on thin volume), then ex-date markdown.
Medium term
1-6 months: no lasting effect unless the strategy shift materialises into restructuring or portfolio action.
Short term
1-4 weeks: payout by Oct 13; price normalises; watch for details of the noted strategy-direction changes.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 21 Sep 2026 | interim | ₹160 |
|---|---|---|
| 30 Jun 2026 | unspecified | ₹60 |
| 22 Sep 2025 | interim | ₹160 |
| 27 Jun 2025 | unspecified | ₹30 |
| 27 Jun 2025 | special | ₹30 |
| 25 Sep 2024 | interim | ₹110 |
| 28 Jun 2024 | unspecified | ₹60 |
| 28 Sep 2023 | interim | ₹110 |
Splits, bonuses & buybacks
- daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-264 Jul 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.