MAHSCOOTER
Maharashtra Scooters share price & financials
- Price
- ₹12,597
- Market cap
- ₹14.8k Cr
- Sector
- Financial Services
What Maharashtra Scooters Limited does
Maharashtra Scooters Limited is an unregistered Core Investment Company (CIC) under the RBI's CIC framework, which requires it to keep the vast majority of its net assets invested in Bajaj Group companies, mostly through equity holdings, with the objective of earning a reasonable return while protecting principal. It earns primarily through returns on this group investment portfolio and treasury management of surplus funds rather than from selling any product or service. The company formerly manufactured pressure dies, fixtures and die-casting components at a factory in Satara, but permanently shut these tool-room manufacturing operations during FY2025, transferring the leasehold factory land and plant and machinery after Voluntary Separation Schemes were implemented for all factory staff. It has no subsidiaries, associates or joint ventures.
Segments
- Investment / Treasury Operations
- Entity type
- Unregistered Core Investment Company (CIC), not required to register with RBI
- Group investment mandate
- Required to hold the large majority of net assets in Bajaj Group companies, chiefly through equity investments
- Subsidiaries / Associates / Joint Ventures
- None
- Manufacturing operations
- Discontinued in FY2025 — Satara facility (pressure dies, fixtures, die-casting components) divested after Voluntary Separation Scheme for factory staff
- Business segments
- Single segment — investment and treasury operations
- Corporate office
- Co-located at Bajaj Finserv's corporate office, Viman Nagar, Pune
Quarterly results
Q1 FY27: revenue down 81.5%, net profit down 90.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 163 | 6 | 7 | 29 | 271 +66% | 6 +11% | 6 −9% | 5 −82% |
| EBITDA | 161 | 4 | 5 | 28 | 270 +68% | 6 +36% | 5 +5% | 5 −84% |
| Net profit | 151 | 3 | 52 | 35 | 267 +77% | 4 +25% | 4 −92% | 3 −91% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −27.6% 1Y
1Y: ₹17,911 on 10 Sept 2025 → ₹12,964. High ₹18,018 (17 Sept 2025), low ₹11,109 (30 Mar 2026).
Financials, as filed
Revenue grew 13.2% a year over 3 years, FY23 to FY26. Operating margin widened to 98.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹216 Cr | ₹223 Cr | ₹183 Cr | ₹313 Cr |
| Operating profit | ₹194 Cr | ₹203 Cr | ₹172 Cr | ₹309 Cr |
| Operating margin | 90.0% | 91.3% | 93.7% | 98.6% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹1 Cr | ₹2 Cr | ₹2 Cr | ₹0 Cr |
| Net profit | ₹195 Cr | ₹199 Cr | ₹214 Cr | ₹311 Cr |
| Net margin | 90.3% | 89.5% | 116.9% | 99.3% |
| Cash from operations | ₹209 Cr | ₹206 Cr | ₹159 Cr | ₹267 Cr |
| Free cash flow | ₹207 Cr | ₹206 Cr | ₹224 Cr | ₹267 Cr |
| ROCE | 1.0% | 1.0% | 1.0% | 1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr |
| Reserves | ₹16.2k Cr | ₹22.8k Cr | ₹19.0k Cr | ₹27.0k Cr | ₹33.0k Cr | ₹27.6k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹1.0k Cr | ₹1.8k Cr | ₹1.4k Cr | ₹2.4k Cr | ₹4.2k Cr | ₹3.2k Cr |
| Total liabilities | ₹17.3k Cr | ₹24.7k Cr | ₹20.4k Cr | ₹29.4k Cr | ₹37.3k Cr | ₹30.8k Cr |
| Fixed assets | ₹14 Cr | ₹13 Cr | ₹12 Cr | ₹10 Cr | ₹0 Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹17.2k Cr | ₹24.7k Cr | ₹20.4k Cr | ₹29.4k Cr | ₹37.0k Cr | ₹30.8k Cr |
| Other assets | ₹76 Cr | ₹33 Cr | ₹22 Cr | ₹22 Cr | ₹230 Cr | ₹32 Cr |
| Total assets | ₹17.3k Cr | ₹24.7k Cr | ₹20.4k Cr | ₹29.4k Cr | ₹37.3k Cr | ₹30.8k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs added +1.06 pp while the public trimmed −0.64 pp. The shareholder count shrank 1% to 24,766.
- Promoters
- 51.0%
- FIIs
- 6.2%
- DIIs
- 3.9%
- Government
- 0.0%
- Public
- 39.0%
Since Jun 2025
- FIIs +1.06 pp
- Public −0.64 pp
- DIIs −0.41 pp
How it drifted, 12 quarters
Over this window FIIs went from 4.2% to 6.2% — +2.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 51.0%, FIIs 4.2%, DIIs 5.2%, Government 0.0%, Public 39.7%.Dec '23: Promoters 51.0%, FIIs 4.4%, DIIs 5.1%, Government 0.0%, Public 39.5%.Mar '24: Promoters 51.0%, FIIs 4.4%, DIIs 5.1%, Government 0.0%, Public 39.5%.Jun '24: Promoters 51.0%, FIIs 4.5%, DIIs 5.4%, Government 0.0%, Public 39.1%.Sep '24: Promoters 51.0%, FIIs 4.7%, DIIs 5.3%, Government 0.0%, Public 38.9%.Dec '24: Promoters 51.0%, FIIs 4.9%, DIIs 5.3%, Government 0.0%, Public 38.8%.Mar '25: Promoters 51.0%, FIIs 4.9%, DIIs 4.5%, Government 0.0%, Public 39.6%.Jun '25: Promoters 51.0%, FIIs 5.1%, DIIs 4.3%, Government 0.0%, Public 39.6%.Sep '25: Promoters 51.0%, FIIs 6.2%, DIIs 3.9%, Government 0.0%, Public 38.9%.Dec '25: Promoters 51.0%, FIIs 6.2%, DIIs 3.9%, Government 0.0%, Public 38.9%.Mar '26: Promoters 51.0%, FIIs 6.3%, DIIs 3.7%, Government 0.0%, Public 39.0%.Jun '26: Promoters 51.0%, FIIs 6.2%, DIIs 3.9%, Government 0.0%, Public 39.0%.
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.
- Parag Parikh Flexi Cap Fund Mutual fund +0.17 pp 2.94% held
The same filing shows 1 holder 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 Maharashtra Scooters Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Bajaj Holdings & Investment Limited | 51.00% | unchanged |
| Cd Equifinance Private Limited | 5.04% | unchanged |
| Parag Parikh Flexi Cap Fund Mutual fund | 2.94% | +0.17 pp |
| Hemantkumar Hasmukhrai Amin | 1.62% | unchanged |
| Raamdeo Ramgopal Agrawal | 1.60% | unchanged |
| Acacia Partners, Lp FPI fund | 1.54% | unchanged |
| Investor Education And Protection Fund Authority M | 1.46% | −0.06 pp |
| Acacia Institutional Partners, Lp FPI fund | 1.45% | unchanged |
| Desai Brothers Limited | 1.41% | unchanged |
| Niraj Bajaj | 0.00% | unchanged |
| Kumud Bajaj | 0.00% | unchanged |
| Kiran Bajaj | 0.00% | 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.
Learn to analyse Maharashtra Scooters Limited
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