MAHAMAYA STEEL INDS LTD

Manufactures structural steel products such as joists, channels, angles, flats, rounds, blooms and billets, selling them to large public-sector buyers and a few private firms. Monthly volumes have run in the high-teens to low-twenties of thousand metric tonnes — 21,467.96 MT in April 2026 and 17,485.14 MT in June 2026. The customer book includes SAIL, BHEL, NTPC, ONGC, GAIL, RDSO, BSP, DGS&D, DMRC and Reliance Industries, with the company holding approved-supplier status at each. Raw materials accounted for 80.7% of FY26 revenue of Rs 882.85 crore, leaving an EBITDA margin of 2.94%. Working-capital and capex needs are met via Rs 50 crore of cash credit from UCO Bank, with total long-term bank facilities of Rs 51.47 crore rated BWR BBB+ with Stable outlook. Borrowings rose during the year — qualified borrowings climbed from Rs 4.21 crore to Rs 18.78 crore — and an electricity duty subsidy receivable of Rs 1,105.69 lakh was flagged by auditors as having uncertain collectability.