MAKS
Maks Energy Solutions India financials
- Market cap
- ₹11 Cr
- Sector
- Capital Goods
What Maks Energy Solutions India Limited does
Maks Energy Solutions procures diesel engines, alternators and ancillary components (control panels, base frames, fuel tanks, canopies, acoustic enclosures) from third-party suppliers and assembles them at its own facility into Diesel Generating (DG) Sets ranging from 15 kVA to 1250 kVA, using engines from TATA, Perkins, Cummins and Volvo Penta, marketed under the 'Maks Generators' brand. It sells DG sets and spares domestically across Maharashtra, Delhi, Karnataka, Telangana, Punjab and Jharkhand, and exports to the Middle East, Southeast Asia and Africa. Since April 2019 it has also distributed Tata Motors commercial-vehicle spare parts to state transport bodies such as MSRTC and PMPML, and separately trades other items including auto spare parts, MS plates and TMT bars.
Segments
- Diesel Generator (DG) Sets - trading & assembly
- Commercial vehicle spare parts distribution
- DG Set capacity range
- 15 kVA to 1250 kVA
- Assembly/factory units
- 1 (Kondhwa-Saswad Road, Pune)
- Business segments
- 2 (DG Sets assembly & trading; CV spare parts distribution)
- Engine brands assembled
- TATA, Perkins, Cummins, Volvo Penta
- Domestic states served
- 6 (Maharashtra, Delhi, Karnataka, Telangana, Punjab, Jharkhand)
- Export regions
- Middle East, Southeast Asia, Africa, SAARC
Quarterly results
Q4 FY26: revenue down 20.9%, net profit up 650.0% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20 | 24 | 31 | 35 | 34 +68% | 32 +35% | 26 −15% | 28 −21% |
| EBITDA | 1 | 2 | 1 | 1 | 1 +129% | 2 +11% | 1 −8% | 2 +45% |
| Net profit | -0 | 1 | 0 | 0 | 0 +154% | 0 −30% | 0 −65% | 1 +650% |
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 −49.7% 1Y
1Y: ₹30 on 5 Sept 2025 → ₹15.1. High ₹34.5 (29 Oct 2025), low ₹13.1 (1 Sept 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5 Cr | ₹5 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr | ₹7 Cr |
| Reserves | ₹10 Cr | ₹7 Cr | ₹9 Cr | ₹9 Cr | ₹10 Cr | ₹11 Cr |
| Borrowings | ₹22 Cr | ₹19 Cr | ₹13 Cr | ₹15 Cr | ₹17 Cr | ₹17 Cr |
| Other liabilities | ₹7 Cr | ₹5 Cr | ₹3 Cr | ₹2 Cr | ₹3 Cr | ₹1 Cr |
| Total liabilities | ₹44 Cr | ₹36 Cr | ₹32 Cr | ₹34 Cr | ₹37 Cr | ₹35 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹4 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹40 Cr | ₹36 Cr | ₹31 Cr | ₹34 Cr | ₹36 Cr | ₹35 Cr |
| Total assets | ₹44 Cr | ₹36 Cr | ₹32 Cr | ₹34 Cr | ₹37 Cr | ₹35 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 Mar 2026
Since Mar 2025, DIIs added +0.84 pp while the public trimmed −0.84 pp. The shareholder count shrank 6% to 204.
- Promoters
- 71.2%
- DIIs
- 1.0%
- Public
- 27.8%
Since Mar 2025
- DIIs +0.84 pp
- Public −0.84 pp
- Promoters 0.00 pp
How it drifted, 8 quarters
Ownership split by quarter, oldest first. Sep '22: Promoters 71.2%, Public 28.8%.Mar '23: Promoters 71.2%, Public 28.8%.Sep '23: Promoters 71.2%, Public 28.8%.Mar '24: Promoters 71.2%, Public 28.8%.Sep '24: Promoters 71.3%, Public 28.7%.Mar '25: Promoters 71.2%, DIIs 0.1%, Public 28.7%.Sep '25: Promoters 71.2%, DIIs 0.7%, Public 28.1%.Mar '26: Promoters 71.2%, DIIs 1.0%, Public 27.8%.
Who is on the register
Named in the Mar 2026 filing
Every holder of Maks Energy Solutions India Limited above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Sourabh Mahendra Shaw | 37.69% | unchanged |
| Mahendra Madhairam Shaw | 27.00% | unchanged |
| Haryana Refractories Private Limited | 7.35% | unchanged |
| Swati Sourabh Shaw | 6.50% | unchanged |
| Malani Wealth Advisors Private Limited | 2.14% | unchanged |
| Nnm Nextgen Advisory Private Limited | 1.60% | unchanged |
| Manoj Agarwal | 1.56% | unchanged |
| Bhartidevi Mohanlal Duhlani | 1.06% | unchanged |
| Akhilesh Jogendar Shaw | 0.00% | unchanged |
| Kusum Mahendra Shaw | 0.00% | unchanged |
| Shubham Jogendra Shaw | 0.00% | unchanged |
| Jogendar Madhairam Shaw | 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 Maks Energy Solutions India Limited
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