Maheshwari Logistics share price & results
- Jun 2026
- Jun 2026
Gujarat-based diversified group operating logistics/transportation, non-coking coal & petcoke trading, and kraft paper manufacturing from waste paper, with a newly added Mahindra Truck & Bus dealership.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 235 | −8.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 6.7 | +0.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3.3 | −25.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 7.60 | −1.9 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -1.52 | −4.4 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 10.05 | +21.0 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +25.3% 1Y
1Y: ₹55.86 on 24 Oct 2025 → ₹70. High ₹74.96 (25 Aug 2026), low ₹39.69 (4 Mar 2026).
- Previous close
- ₹70
- Market cap
- ₹215 Cr
- 52-week range
- ₹39.69 – ₹74.96
- One year
- +24.67%
- Price to earnings (TTM to Jun 2026)
- 13.63×
- Return on equity (TTM to Jun 2026)
- 7.60%
Overview
- Symbol
- NSE:MAHESHWARI
- Sector
- Diversified
- Exchange
- NSE
- Currency
- INR
What Maheshwari Logistics Limited does
Based on the company's own presentations, annual report and earnings calls.
Maheshwari Logistics runs three core lines: a logistics and transportation arm that moves bulk cargo including coal and petcoke using owned and attached vehicles; a trading business supplying non-coking coal and petcoke to industrial customers; and a kraft paper manufacturing unit that recycles waste paper into kraft paper at its Ambethi, Gujarat facility. It also operates a coal screening plant in Vapi that processes imported and indigenous coal to customer-specific sizing. In FY25 it entered auto distribution as an authorised Mahindra Truck & Bus dealer and increased its stake in Vidhik Prints, a mono-carton packaging manufacturer.
Segments
- Trading (non-coking coal & petcoke)
- Transportation & Port Services
- Manufacturing - Kraft Paper
- Main / Corporate
- Auto distribution (Mahindra Truck & Bus dealership)
- Packaging (Vidhik Prints stake)
- Installed capacity - Logistics Service
- 1,137,125 MT (FY25)
- Installed capacity - Coal & Petcoke Trade
- 632,284 MT (FY25)
- Installed capacity - Kraft Paper manufacturing
- 94,120 MT (FY25)
- Kraft paper manufacturing facility
- 45,000 sq. metres (Ambethi, Gujarat)
- Operational offices
- 6 (across Gujarat & Rajasthan)
- Coal screening plants
- 1 (Vapi, Gujarat)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −26% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 225 | 230 | 249 | 256 | 265 | 262 | 284 | 235 |
| Expenses | 209 | 212 | 232 | 239 | 250 | 244 | 268 | 219 |
| Operating profit | 16 | 18 | 17 | 17 | 15 | 17 | 15 | 16 |
| Operating margin | 7.0% | 7.7% | 6.8% | 6.6% | 5.8% | 6.6% | 5.4% | 6.7% |
| Other income | 2 | 0 | 3 | 1 | 3 | 1 | 2 | 1 |
| Interest | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 8 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Profit before tax | 6 | 6 | 7 | 6 | 6 | 6 | 4 | 5 |
| Tax rate | 27.9% | 50.7% | 14.4% | 30.5% | 33.1% | 28.7% | 9.6% | 32.6% |
| Net profit | 5 | 3 | 6 | 4 | 4 | 4 | 4 | 3 |
| EPS (₹ per share) | 1.53 | 1.02 | 2.12 | 1.48 | 1.32 | 1.41 | 1.31 | 1.10 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 1,029 | 949 | 1,067 |
| Expenses | 977 | 885 | 1,001 |
| Operating profit | 52 | 64 | 65 |
| Other income | 5 | 6 | 7 |
| Interest | 28 | 31 | 33 |
| Depreciation | 12 | 15 | 16 |
| Profit before tax | 17 | 24 | 22 |
| Net profit | 13 | 18 | 16 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 30 | 30 | 30 | 30 | 30 | 30 |
| Reserves | 125 | 137 | 151 | 169 | 178 | 185 |
| Borrowings | 177 | 207 | 239 | 252 | 304 | 261 |
| Other liabilities | 99 | 101 | 113 | 138 | 139 | 147 |
| Total liabilities | 430 | 475 | 533 | 587 | 650 | 622 |
| Fixed assets | 110 | 107 | 147 | 150 | 185 | 164 |
| Capital work in progress | 15 | 37 | 17 | 19 | 1 | 0 |
| Investments | 2 | 5 | 6 | 6 | 2 | 6 |
| Other assets | 303 | 326 | 363 | 412 | 462 | 452 |
| Total assets | 430 | 475 | 533 | 587 | 650 | 622 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 49 | 9 | 38 | 1 | 57 | 16 |
| Cash from investing | -6 | -35 | -30 | -29 | -18 | -7 |
| Cash from financing | -28 | 15 | -8 | 13 | -19 | -24 |
| Net cash flow | 14 | -11 | 0 | -15 | 21 | -15 |
| Free cash flow | 42 | -27 | 7 | -30 | 37 | 5 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 65 | 47 | 45 | 51 | 58 | 62 |
| Inventory days | 61 | 40 | 43 | 59 | 72 | 72 |
| Days payable | 52 | 35 | 32 | 39 | 54 | 49 |
| Cash conversion cycle | 73 | 52 | 56 | 71 | 75 | 85 |
| Working capital days | 41 | 30 | 25 | 31 | 19 | 24 |
| Return on capital employed | 12.0% | 14.0% | 11.0% | 11.0% | 13.0% | 12.0% |
| Dividend payout | 16.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Trading Segment contributes 65.1% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Trading Segment 65.1%
₹167.80 crore
- Manufacturing Kraft Paper 25.8%
₹66.51 crore
- Transportation & Port Service 9.1%
₹23.34 crore
- Unallocated (expenses) / income (net) 0.0%
₹0.00 crore
- Inter Segment 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Trading Segment | 167.80 | 65.1% |
| Manufacturing Kraft Paper | 66.51 | 25.8% |
| Transportation & Port Service | 23.34 | 9.1% |
| Unallocated (expenses) / income (net) | 0.00 | 0.0% |
| Inter Segment | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹257.64 crore
- Intersegment adjustment
- ₹8.64 crore
- Net segment revenue
- ₹249.00 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Transportation & Port Service shrank from 13% to 9% of revenue over the last two years.
| Segment | Jun 2024 | Sep 2024 | Dec 2024 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Trading Segment | 61% | 51% | 58% | 58% | 56% | 63% | 59% | 65% | +2.5% |
| Manufacturing Kraft Paper | 26% | 36% | 32% | 31% | 33% | 24% | 30% | 26% | -23.0% |
| Transportation & Port Service | 13% | 13% | 10% | 11% | 11% | 12% | 11% | 9% | -26.5% |
| Unallocated (expenses) / income (net) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
| Inter Segment | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
FairTo justify its price of ₹70, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~12%. At that growth it is worth ₹79 — upside of 13%.
- Growth the price implies
- 9.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 12.1% a year
- net profit, FY24–FY26 · EPS 12.0%
- The gap
- -0.0 pp
- 13% downside if it only repeats history
Ownership
Who owns it
Promoters hold 57.32% as of Jun 2026; institutions added 0.00 pts since Mar 2026.
- Promoters 57.32%
- Domestic institutions 0.00%
- Public 40.81%
- Others 1.87%
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- +0.15 pp 2.38% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Maheshwari Logistics Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 19.82% | unchanged | |
| 11.66% | unchanged | |
| 10.66% | unchanged | |
| 6.54% | unchanged | |
| 6.20% | unchanged | |
| 3.38% | unchanged | |
| 2.80% | unchanged | |
| 2.38% | +0.15 pp | |
| 1.81% | unchanged | |
| 1.45% | unchanged | |
| 1.25% | unchanged | |
| 0.41% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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