MAHESHWARI

Maheshwari Logistics Limited

Transportation, trading, port services and kraft paper manufacturing company

Services›Services›Commercial Services & Supplies›Trading & Distributors

mlpl.biz(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹71.73
Market cap
212 Cr
Stock P/E
13.4
P/B
0.98
Dividend yield
0.7%
ROE (FY26)
7.7%
ROCE (FY26)
11.9%
Operating margin (FY26)
4.8%
Debt / equity (FY26)
1.27
OCF / EBITDA (FY26)
33.6%
OCF / EBITDA (3Y)
55.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Maheshwari Logistics trades goods, runs transportation and port services and makes kraft paper, and is based in Vapi, Gujarat.

Company snapshot

12thBy market cap

Ranked among 23 companies in Trading & Distributors.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 58.5% of revenue

SegmentRevenue shareRevenuePBTAssets
Inter Segment—0 Cr0 Cr—
Manufacturing Kraft Paper
32.5%
232 Cr32 Cr—
Trading Segment
58.5%
418 Cr6 Cr—
Transportation & Port Service
12.3%
88 Cr2 Cr—
Unallocated (expenses) / income (net)—0 Cr-0.42 Cr—

Shares add up to 103% because segment revenues are before inter-segment eliminations.

What we see

Concerns
  • ✗Net margin is very thin at 1.5% — little room for error if costs rise.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 20251Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales240 Cr277 Cr261 Cr250 Cr229 Cr235 Cr259 Cr268 Cr275 Cr273 Cr294 Cr249 Cr
Operating expenses (approx.)225 Cr264 Cr247 Cr236 Cr213 Cr216 Cr240 Cr250 Cr258 Cr255 Cr276 Cr232 Cr
EBITDA14 Cr13 Cr13 Cr14 Cr16 Cr20 Cr19 Cr18 Cr17 Cr18 Cr18 Cr17 Cr
OPM %6.0%4.7%5.1%5.8%6.9%8.3%7.2%6.6%6.0%6.5%6.2%6.7%
Other income0.52 Cr2 Cr1 Cr0.82 Cr2 Cr-0.13 Cr3 Cr1 Cr2 Cr0.70 Cr1 Cr0.99 Cr
Interest6 Cr7 Cr8 Cr8 Cr8 Cr9 Cr8 Cr9 Cr9 Cr8 Cr9 Cr8 Cr
Depreciation3 Cr3 Cr3 Cr4 Cr4 Cr4 Cr4 Cr4 Cr5 Cr5 Cr4 Cr4 Cr
Profit before tax6 Cr5 Cr3 Cr4 Cr6 Cr6 Cr10 Cr6 Cr6 Cr6 Cr6 Cr5 Cr
Tax %27.9%34.5%-19.7%6.5%30.6%54.7%—30.7%32.5%38.4%8.6%32.2%
Net profit4 Cr3 Cr3 Cr4 Cr4 Cr3 Cr8 Cr4 Cr4 Cr4 Cr5 Cr3 Cr
EPS (₹)₹1.33₹0.99₹1.15₹1.25₹1.34₹0.91—₹1.47₹1.34₹1.29₹1.59₹1.11
  1. 1Mar 2025: Derived from year-to-date: the year to 31 Mar 2025 less the quarters to 30 Jun 2024, 30 Sep 2024 and 31 Dec 2024; the filing gives no figures for this quarter alone

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,037 Cr760 Cr676 Cr1,035 Cr1,149 Cr1,048 Cr973 Cr1,110 CrSign in free for the trailing twelve months
Operating expenses (approx.)991 Cr709 Cr633 Cr983 Cr1,099 Cr994 Cr905 Cr1,040 CrSign in free for the trailing twelve months
EBITDA46 Cr51 Cr43 Cr52 Cr50 Cr54 Cr69 Cr70 CrSign in free for the trailing twelve months
OPM %4.5%6.7%6.4%5.0%4.4%5.2%7.0%6.3%Sign in free for the trailing twelve months
Other income3 Cr2 Cr2 Cr3 Cr2 Cr4 Cr5 Cr6 CrSign in free for the trailing twelve months
Interest18 Cr21 Cr19 Cr19 Cr22 Cr28 Cr32 Cr35 CrSign in free for the trailing twelve months
Depreciation8 Cr12 Cr13 Cr12 Cr12 Cr12 Cr16 Cr17 CrSign in free for the trailing twelve months
Profit before tax23 Cr20 Cr13 Cr24 Cr18 Cr18 Cr25 Cr24 CrSign in free for the trailing twelve months
Tax %35.1%27.1%27.7%27.8%26.1%24.5%26.3%27.6%Sign in free for the trailing twelve months
Net profit15 Cr15 Cr9 Cr17 Cr13 Cr14 Cr18 Cr17 CrSign in free for the trailing twelve months
EPS (₹)₹10.19₹9.94₹3.14₹5.85₹4.56₹4.40₹6.13₹5.74Sign in free for the trailing twelve months
Dividend payout %——0.0%8.6%11.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital15 Cr15 Cr30 Cr30 Cr30 Cr30 Cr30 Cr30 Cr
Reserves102 Cr115 Cr109 Cr125 Cr137 Cr151 Cr169 Cr186 Cr
Borrowings122 Cr128 Cr138 Cr175 Cr191 Cr248 Cr268 Cr275 Cr
Other liabilities134 Cr104 Cr91 Cr100 Cr121 Cr117 Cr144 Cr155 Cr
Total liabilities373 Cr361 Cr368 Cr429 Cr479 Cr547 Cr613 Cr648 Cr
Fixed assets (net)72 Cr113 Cr105 Cr106 Cr104 Cr146 Cr158 Cr184 Cr
CWIP38 Cr1 Cr3 Cr13 Cr36 Cr27 Cr30 Cr2 Cr
Investments————0 Cr4 Cr2 Cr2 Cr
Loans & advances————1 Cr1 Cr4 Cr0.92 Cr
Inventories48 Cr63 Cr80 Cr89 Cr111 Cr135 Cr152 Cr175 Cr
Trade receivables124 Cr116 Cr120 Cr134 Cr142 Cr146 Cr155 Cr187 Cr
Cash & bank7 Cr6 Cr20 Cr7 Cr3 Cr1 Cr23 Cr7 Cr
Other assets84 Cr62 Cr40 Cr79 Cr83 Cr86 Cr91 Cr90 Cr
Total assets373 Cr361 Cr368 Cr429 Cr479 Cr547 Cr613 Cr648 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity63 Cr31 Cr46 Cr11 Cr38 Cr26 Cr57 Cr24 Cr
Cash from investing-49 Cr-20 Cr-7 Cr-37 Cr-31 Cr-43 Cr-26 Cr-10 Cr
Cash from financing-10 Cr-13 Cr-26 Cr15 Cr-7 Cr23 Cr-11 Cr-28 Cr
Net cash flow3 Cr-2 Cr13 Cr-11 Cr0.15 Cr6 Cr21 Cr-15 Cr
Free cash flow (OCF − Capex)13 Cr11 Cr42 Cr-27 Cr3 Cr-19 Cr27 Cr-20 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %17.4%16.1%11.6%12.9%11.4%10.8%12.2%11.9%
ROE %12.9%11.4%6.7%11.1%8.1%7.6%9.0%7.7%
Debtor days4456644745515861
Inventory days86738978140268279288
Days payable1577776670176204193
Cash conversion cycle-28527758186143133156
OCF / EBITDA %136.0%61.2%105.6%20.8%76.4%48.7%83.4%33.6%
OCF / EBITDA % (3 years)——99.4%60.0%65.2%48.3%70.5%55.5%
Debt / equity1.040.990.991.131.151.381.351.27
Current ratio1.211.511.751.591.471.331.331.20
Net debt / EBITDA2.49———3.774.553.583.80