BSE: 539219
MAURIA UDYOG LIMITED
Operates as an industrial products manufacturer and small trader, listed on BSE and classified under Capital Goods / Industrial Products, with its corporate office and works located in Faridabad. The bulk of revenue comes from the Manufacturing segment, while a much smaller Trading line contributes the balance; the FY26 segment-level disclosure records a single, unnamed stream at Rs 418.16 crore of period segment revenue with an EBIT of Rs 31.21 crore, representing 100% of disclosed period segment revenue per the pack. Quarterly Manufacturing revenue moved from Rs 133.80 crore in Q1 FY26 to Rs 132.03 crore in Q2 FY26, Rs 81.80 crore in Q3 FY26 and Rs 70.54 crore in Q4 FY26, while Trading contributed Rs 5.88 crore in Q2 FY26 and nil in the other three quarters. Consolidated FY26 revenue from operations was Rs 424.04 crore with net profit of Rs 23.96 crore and an EBITDA margin of 10.58%; total assets stood at Rs 423.51 crore. The cost base is dominated by materials at 47.5% of revenue, with other opex at 39.4% and employee costs at 5.2%; depreciation (0.9%) and capex (1.4%) are small relative to revenue, indicating a relatively asset-light operating model. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing, Trading. Asset-light industrial products manufacturer with a small trading line; cyclical single-industry exposure
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 232 | 335 | 409 | 424 |
| EBITDA (ex other income) | 1 | 20 | 40 | 35 |
| margin % | 0.3 | 6.0 | 9.8 | 8.2 |
| Owners' profit | (9) | 17 | 0 | 24 |
| EPS, as reported (₹) | (0.69) | 1.26 | 1.37 | 3.60 |
| ROE % · ROCE % | (52.7) · 17.0 | 54.4 · 14.1 | 56.5 · 24.0 | 42.7 · 39.1 |
| Debt / equity (x) | 10.87 | 6.22 | 4.66 | 2.46 |
| Cash from operations | 153 | 35 | 100 | 32 |
| Capex | (8) | (61) | (34) | (6) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99 | 130 | 97 | 134 | 138 | 82 | 71 | 109 |
| Profit before tax | 9 | 8 | 13 | 9 | 15 | 7 | 3 | 7 |
| Net profit | 5 | 5 | 4 | 7 | 11 | 5 | 2 | 5 |
| EPS (₹) | 0.35 | 0.39 | 0.33 | 0.50 | 0.80 | 0.34 | 0.32 | 0.37 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufacturing | 284 | 67.1 |
| Trading | 6 | 1.4 |
| Manufacturing- | 134 | 31.6 |
| Total, before eliminations | 424 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HBL ENGINEERING LTD | 22,455 | 24.3 | 10.14 | 19.3 | 36.8 | 45.3 | 29.4 | 26.2 |
| INOX INDIA LIMITED | 17,354 | 68.1 | 15.53 | 45.2 | 23.1 | 30.0 | — | 23.4 |
| ESAB INDIA LTD | 8,153 | 36.8 | 18.99 | — | 48.1 | 60.4 | — | 19.2 |
| HARSHA ENGINEERS INT LTD | 3,887 | 25.1 | 2.77 | 15.2 | 11.1 | 13.2 | — | 15.9 |
| W P I L LTD. | 3,868 | 24.5 | 1.97 | 11.1 | 10.2 | 13.1 | 13.3 | 17.7 |
| SUBROS LIMITED | 3,834 | 23.1 | 3.08 | 10.9 | 13.3 | 16.0 | 15.9 | 8.4 |
| ADOR WELDING LTD | 2,370 | 20.9 | 4.28 | 17.0 | 14.8 | 19.9 | 20.6 | 13.8 |
| DIFFUSION ENGINEERS LTD | 1,505 | 27.4 | 3.71 | 20.1 | 12.4 | 15.2 | — | 16.6 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 3.2 | 19.3 | 2 of 27 | 96% |
| P/B | 1.4 | 2.5 | 8 of 24 | 70% |
| ROCE | 32.2 | 12.3 | 3 of 31 | 93% |
| ROE | 42.7 | 10.3 | 2 of 24 | 96% |
| Debt / Equity | 2.5 | 0.2 | 23 of 24 | 4% |
| EBITDA margin | 8.7 | 10.8 | 14 of 23 | 41% |
| Revenue growth | (18.3) | (5.5) | 16 of 23 | 32% |
| Profit growth | (26.8) | (5.0) | 15 of 23 | 36% |
| Market cap | 77 | 103 | 19 of 31 | 40% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · SAT grants partial stay on SEBI penalty; 5-year debarment stands | regulatory legal | high | — | — |
| 9 Oct 2026 · Compliance certificate under Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Revised proceedings of 46th AGM filed with BSE | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 01, 2026 for Q2 results | compliance | minimal | — | — |
| 28 Sept 2026 · 46th AGM: All 5 resolutions passed with over 99.8% majority | board shareholder meetings | low | — | — |
| 26 Sept 2026 · 46th AGM held on Sept 25, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 3 Sept 2026 · AGM notice; Rs 91 crore related party transaction approval sought | results | medium | — | — |
| 3 Sept 2026 · Board okays FY26 Directors Report, 46th AGM on Sept 25 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Two directors vacate office after 12 months of board meeting absences | management changes | high | — | — |
| 8 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.