Maharashtra Scooters share price & results
- Sept 2026
- Sept 2026
Unregistered Core Investment Company holding Bajaj Group equity; manufacturing shut in FY2025.
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 | 297 | +9.6% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 100.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 293 | +9.7% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 0.94 | +0.5 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 85.30 | −7.1 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 0.32 | +87.6 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Price
Performance −27.9% 1Y
1Y: ₹16,419 on 24 Oct 2025 → ₹11,836. High ₹16,434 (27 Oct 2025), low ₹11,109 (30 Mar 2026).
- Previous close
- ₹11,862
- Market cap
- ₹13.5k Cr
- 52-week range
- ₹11,109 – ₹16,434
- One year
- −27.98%
- Price to earnings (TTM to Sept 2026)
- 44.50×
- Return on equity (TTM to Sept 2026)
- 0.94%
Overview
- Symbol
- NSE:MAHSCOOTER
- Sector
- Financial Services
- Exchange
- NSE
- Currency
- INR
What Maharashtra Scooters Limited does
Based on the company's own presentations, annual report and earnings calls.
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
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: +10% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6 | 7 | 29 | 271 | 6 | 6 | 5 | 297 |
| Expenses | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Operating profit | 4 | 5 | 28 | 270 | 6 | 5 | 5 | 296 |
| Operating margin | 71.0% | 71.0% | 96.0% | 100.0% | 86.0% | 83.0% | 84.0% | 100.0% |
| Other income | 1 | 58 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 4 | 62 | 28 | 270 | 6 | 5 | 5 | 296 |
| Tax rate | 23.0% | 17.0% | −25.0% | 1.0% | 26.0% | 27.0% | 27.0% | 1.0% |
| Net profit | 3 | 52 | 35 | 267 | 4 | 4 | 3 | 293 |
| EPS (₹ per share) | 2.89 | 45.18 | 30.94 | 233.69 | 3.60 | 3.51 | 2.90 | 256.61 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 216 | 222 | 184 | 312 |
| Expenses | 23 | 19 | 12 | 4 |
| Operating profit | 194 | 203 | 172 | 309 |
| Other income | 1 | 1 | 46 | 0 |
| Interest | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 4 | 1 | 0 |
| Profit before tax | 193 | 202 | 215 | 309 |
| Net profit | 195 | 199 | 214 | 310 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 19,031 | 27,005 | 30,851 | 33,002 | 27,623 | 32,400 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 |
| Other liabilities | 1,355 | 2,377 | 3,725 | 4,237 | 3,156 | 4,129 |
| Total liabilities | 20,398 | 29,394 | 34,588 | 37,250 | 30,791 | 36,541 |
| Fixed assets | 12 | 10 | 0 | 0 | 0 | 0 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 20,364 | 29,362 | 34,563 | 37,020 | 30,759 | 36,308 |
| Other assets | 22 | 22 | 24 | 230 | 32 | 233 |
| Total assets | 20,398 | 29,394 | 34,588 | 37,250 | 30,791 | 36,541 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -6 | 119 | 209 | 206 | 159 | 267 |
| Cash from investing | -68 | -62 | -3 | -12 | 36 | -19 |
| Cash from financing | -1 | -58 | -205 | -194 | -193 | -250 |
| Net cash flow | -75 | 0 | 0 | 0 | 1 | -2 |
| Free cash flow | -6 | 119 | 207 | 206 | 224 | 267 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 82 | 19 | 11 | 3 | 0 | 0 |
| Inventory days | 163 | — | — | — | — | — |
| Days payable | 99 | — | — | — | — | — |
| Cash conversion cycle | 146 | 19 | 11 | 3 | 0 | 0 |
| Working capital days | 103 | 31 | 10 | 7 | -35 | 13 |
| Return on capital employed | 0.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Dividend payout | 649.0% | 64.0% | 94.0% | 97.0% | 75.0% | 81.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Investment contributes 89.2% of reported segment revenue.
Quarter ended 31 Dec 2024 · Standalone
- Investment 89.2%
₹5.79 crore
- Unallocable 10.8%
₹0.70 crore
- Manufacturing 0.0%
₹0.00 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Investment | 5.79 | 89.2% |
| Unallocable | 0.70 | 10.8% |
| Manufacturing | 0.00 | 0.0% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹6.49 crore
- Intersegment adjustment
- ₹0.00 crore
- Net segment revenue
- ₹6.49 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.
Ownership
Who owns it
Promoters hold 51.00% as of Sept 2026; institutions added 0.10 pts since Jun 2026.
- Promoters 51.00%
- Foreign institutions 6.31%
- Domestic institutions 3.82%
- Government 0.01%
- Public 38.86%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mutual fund +0.11 pp 3.05% 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 Sep 2026 filing
Every holder of Maharashtra Scooters Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 51.00% | unchanged | |
| 5.04% | unchanged | |
| Mutual fund | 3.05% | +0.11 pp |
| 1.62% | unchanged | |
| 1.60% | unchanged | |
| FPI fund | 1.54% | unchanged |
| FPI fund | 1.45% | unchanged |
| 1.43% | unchanged | |
| 1.41% | 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.
Mutual funds in MAHSCOOTER
Filings to Sep 2026
0 new, 1 added, 0 trimmed, 0 sold out — net +0.02 L shares (+0.6%).
- Held by funds
- ₹439 Cr
- 2 schemes
- Biggest holder
- Parag Parikh ELSS Tax Saver Fund
- ₹297 Cr · 5.5% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Parag Parikh ELSS Tax Saver Fund PPFAS Mutual Fund | ₹297 Cr | held | Feb '22 |
| Parag Parikh Flexi Cap Fund PPFAS Mutual Fund | ₹142 Cr | +0.02 L | Apr '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
1 added, 0 trimmed — net +2,188 shares (+0.6%)
- Funds are sitting on
- +88%
- vs est. average cost
- Held by funds
- ₹439 Cr
- 2 schemes · ≈ 3.1% of the company
- Biggest holder
- Parag Parikh ELSS Tax Saver Fund
- ₹297 Cr · 5.5% of that fund
Shares held by these funds +49%
Oct '23 3.49 L shares Sep '26
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