Maha Rashtra Apx

  • Market Cap: Micro Cap
  • Industry: Non Banking Financial Company (NBFC)
  • ISIN: INE843B01013
  • NSEID: MAHAPEXLTD
  • BSEID: 523384
INR
49.21
-0.27 (-0.55%)
BSENSE

Jun 11, 12:08 PM

BSE+NSE Vol: 17.12 k

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

17.12 k (683.92%) Volume

Shareholding (May 2026)

FII

0.00%

Held by 0 FIIs

DII

0.00%

Held by 0 DIIs

Promoter

71.57%

How big is Maha Rashtra Apx?

11-Jun-2026

As of 10th June, Maha Rashtra Apex Corporation Ltd has a market capitalization of 135.00 Cr and reported net sales of 2.14 Cr with a net loss of 6.88 Cr over the last four quarters. Shareholder's funds are valued at 465.84 Cr, with total assets of 543.12 Cr as of March 2025.

As of 10th June, <BR><BR>Market Cap: Maha Rashtra Apex Corporation Ltd has a market capitalization of 135.00 Cr and is classified as a Micro Cap.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 2.14 Cr, while the sum of Net Profit for the same period shows a loss of 6.88 Cr.<BR><BR>Balance Sheet Snapshot: The reporting period for the balance sheet is March 2025. Shareholder's Funds are valued at 465.84 Cr, and Total Assets amount to 543.12 Cr.

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Why is Maha Rashtra Apex Corporation Ltd falling/rising?

10-Jun-2026

As of 10-Jun, Maha Rashtra Apex Corporation Ltd's stock price is rising to Rs 49.48, up 5.28% after a trend reversal. Despite this increase, the stock has a year-to-date decline of 13.02% and shows decreased investor participation.

As of 10-Jun, Maha Rashtra Apex Corporation Ltd's stock price is rising, currently at Rs 49.48, which reflects an increase of Rs 2.48 or 5.28%. This upward movement comes after a trend reversal, as the stock has gained after four consecutive days of decline. Additionally, the stock has outperformed its sector by 6.96% today, indicating a stronger performance relative to its peers.<BR><BR>The stock reached an intraday high of Rs 51.6, marking a significant increase of 9.79% during the trading day. However, it is important to note that the stock has experienced high volatility, with an intraday volatility of 5.39%. Despite this rise, the stock's performance over longer periods shows a decline, with a year-to-date drop of 13.02% and a one-year decline of 21.78%. <BR><BR>Moreover, there has been a decrease in investor participation, as evidenced by a 27.67% drop in delivery volume compared to the five-day average. This suggests that while the stock is currently rising, there are underlying concerns regarding its overall performance and investor interest.

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What does Maha Rashtra Apx do?

10-Jun-2026

Maha Rashtra Apex Corporation Ltd is a non-banking financial company (NBFC) that operates in the micro-cap market segment. As of March 2026, it reported net sales of 0 Cr and a net profit of -5 Cr, with a market capitalization of INR 135 Cr.

Overview: <BR>Maha Rashtra Apex Corporation Ltd operates as a non-banking financial company (NBFC) within the micro-cap market segment.<BR><BR>History: <BR>The company was incorporated in April 1943 as Maharashtra Apex Bank Limited and later changed its name to Maha Rashtra Apex Corporation Limited in 1955 after transferring its banking branches to Canara Industrial and Banking Syndicate. The latest quarterly results reported net sales and net profit for March 2026.<BR><BR>Financial Snapshot: <BR>Most recent Net Sales: 0 Cr (Quarterly Results - Mar 2026) <BR>Most recent Net Profit: -5 Cr (Quarterly Results - Mar 2026) <BR>Market-cap value: INR 135 Cr (Micro Cap)<BR><BR>Key Metrics: <BR>P/E: N/A <BR>Industry P/E: 20 <BR>Dividend Yield: 0.00% <BR>Debt-Equity: 0.00 <BR>Return on Equity: -1.64% <BR>Price-to-Book: 0.29<BR><BR>Contact Details: <BR>Address: 3rd Floor Front Wing North Blo, Manipal Centre 47 Dickenson Rd Bangalore Karnataka : 560042 <BR>Tel: 91-820-2571021 <BR>Email: mrachl.ho@manipal.com <BR>Website: http://www.maharashtraapex.com

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Should I buy, sell or hold Maha Rashtra Apex Corporation Ltd?

28-May-2026

Are Maha Rashtra Apex Corporation Ltd latest results good or bad?

27-May-2026

Maha Rashtra Apex Corporation Ltd's latest results are concerning, showing a consolidated net loss of ₹4.96 crores in Q4 FY26, a 201.02% decline from the previous quarter, with net sales dropping 96.95% quarter-on-quarter. This indicates severe operational distress and a challenging outlook for the company.

The latest results for Maha Rashtra Apex Corporation Ltd are quite concerning. In the fourth quarter of FY26, the company reported a consolidated net loss of ₹4.96 crores, which is a significant decline of 201.02% compared to the previous quarter. Additionally, net sales plummeted to just ₹0.06 crores, marking a staggering 96.95% drop quarter-on-quarter and an 80% decrease year-on-year.<BR><BR>The operating margin, excluding other income, was reported at a negative 816.67%, indicating severe operational distress. This suggests that the company's core business activities are not generating sufficient revenue to cover even basic expenses, leading to a critical cash burn situation.<BR><BR>Overall, the financial performance reflects a company in distress, struggling with a collapsing revenue base and persistent losses. The lack of institutional interest and the severe illiquidity of the stock further complicate the outlook. Therefore, the results can be characterized as bad, highlighting significant challenges ahead for the company.

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How has been the historical performance of Maha Rashtra Apx?

13-Nov-2025

Maha Rashtra Apx experienced significant financial fluctuations, with net sales and total operating income declining sharply from March 2024 to March 2025, while profit before tax increased. Despite a drop in consolidated net profit and negative cash flow from operations, total assets and liabilities rose slightly.

Answer:<BR>The historical performance of Maha Rashtra Apx shows significant fluctuations in key financial metrics over the years.<BR><BR>Breakdown:<BR>Maha Rashtra Apx experienced a decline in net sales from 8.71 crore in March 2024 to just 1.36 crore in March 2025. Total operating income followed a similar trend, decreasing from 8.71 crore in March 2024 to 1.36 crore in March 2025. The company reported an operating profit (PBDIT) of 5.10 crore in March 2025, down from 6.93 crore in March 2024, while the operating profit margin turned negative at -106.62% in March 2025. Profit before tax increased to 16.14 crore in March 2025 from 9.28 crore in March 2024, leading to a profit after tax of 11.99 crore in March 2025, compared to 7.76 crore in March 2024. The consolidated net profit also saw a significant drop from 331.50 crore in March 2024 to 19.66 crore in March 2025. On the balance sheet, total assets rose slightly from 533.80 crore in March 2024 to 543.12 crore in March 2025, while total liabilities increased from 533.80 crore to 543.12 crore in the same period. Cash flow from operating activities remained negative at -4.00 crore in March 2025, although the company recorded a net cash inflow of 2.00 crore. Overall, the financial performance of Maha Rashtra Apx reflects a challenging year with notable declines in sales and profitability, despite some improvements in cash flow and asset management.

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Is Maha Rashtra Apx overvalued or undervalued?

18-Aug-2025

As of August 14, 2025, Maha Rashtra Apx is considered overvalued with a valuation grade of "very expensive," a PE ratio of 7.21, and a year-to-date return of -24.78%, significantly underperforming compared to its peers in the industry.

As of 14 August 2025, the valuation grade for Maha Rashtra Apx has moved from very attractive to very expensive. This indicates a significant shift in the company's perceived value, suggesting it is currently overvalued. The company exhibits a PE ratio of 7.21, a price-to-book value of 0.34, and an EV to EBITDA ratio of -111.89, all of which highlight its financial struggles.<BR><BR>In comparison to its peers, Maha Rashtra Apx's valuation metrics are notably lower than those of Life Insurance, which has a PE ratio of 11.53 and an EV to EBITDA of 8.97, indicating that Maha Rashtra Apx is not only overvalued but also underperforming relative to its industry. Other peers like Bajaj Finance and Bajaj Finserv are also significantly more expensive, with PE ratios of 30.73 and 32.28, respectively. The recent stock performance shows a stark contrast to the Sensex, with a year-to-date return of -24.78% compared to the Sensex's 3.15%, further reinforcing the notion that Maha Rashtra Apx is overvalued.

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When is the next results date for Maha Rashtra Apx?

05-Aug-2025

Maha Rashtra Apx will declare its results on 13 August 2025.

Maha Rashtra Apx will declare its results on 13 August 2025.

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Who are the top shareholders of the Maha Rashtra Apx?

17-Jul-2025

The top shareholder of Maha Rashtra Apx is Manipal Holdings Private Limited with a 17.66% stake, while individual investors collectively own 33.35%. Gokuldas Hegde is the highest public shareholder at 1.37%.

The top shareholders of Maha Rashtra Apx include Promoters, with Manipal Holdings Private Limited holding the largest stake at 17.66%. There are no pledged promoter holdings, and the company does not have any mutual funds or foreign institutional investors (FIIs) holding shares. The highest public shareholder is Gokuldas Hegde, who owns 1.37%. Additionally, individual investors collectively hold 33.35% of the shares.

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What is the technical trend for Maha Rashtra Apx?

09-Jun-2025

As of June 6, 2025, Maha Rashtra Apx is in a bearish trend with mixed signals from indicators, including a bearish stance in Bollinger Bands and moving averages, despite some mildly bullish readings in MACD and KST.

As of 6 June 2025, the technical trend for Maha Rashtra Apx has changed from mildly bearish to bearish. The current stance is bearish with moderate strength. The weekly MACD is mildly bullish, but the monthly MACD is bearish, indicating a conflicting signal. The Bollinger Bands are bearish on both weekly and monthly time frames, reinforcing the bearish outlook. Daily moving averages are also bearish, contributing to the overall negative sentiment. The KST shows a mildly bullish weekly trend but is mildly bearish on a monthly basis, adding to the mixed signals. The Dow Theory indicates a mildly bearish weekly trend while being mildly bullish monthly, which suggests some potential for recovery but is overshadowed by the prevailing bearish indicators. Overall, the bearish trend is supported by the current price action and the broader context of underperformance compared to the Sensex over various periods.

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Who are in the management team of Maha Rashtra Apx?

06-Jun-2025

As of March 2022, the management team of Maha Rashtra Apx includes K B Shetty (Chairman), ASPI NARIMAN KATGARA (Managing Director), and several directors and officers, including J M Pandey (Company Secretary) and independent directors Jyothi V B and Vidya Mananjay More.

As of March 2022, the management team of Maha Rashtra Apx includes the following individuals:<BR><BR>1. K B Shetty - Chairman & Independent Director<BR>2. J M Pandey - Company Secretary & Compliance Officer<BR>3. Jyothi V B - Independent Director<BR>4. ASPI NARIMAN KATGARA - Managing Director<BR>5. Manjunath Manohar Singh - Director<BR>6. Yazdin Jimmy Mistry - Director<BR>7. Vidya Mananjay More - Independent Director<BR><BR>The team consists of a mix of directors and officers, with varying roles and responsibilities within the company.

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Has Maha Rashtra Apx declared dividend?

06-Jun-2025

No Dividend History Available

Who are the peers of the Maha Rashtra Apx?

03-Jun-2025

Maha Rashtra Apx's peers include Bajaj Finance, Jio Financial, Cholaman.Inv.&Fn, Shriram Finance, Muthoot Finance, PMC Fincorp, Capital Trust, J A Finance, and Optimus Finance. Its 1-year return is -25.02%, higher than PMC Fincorp's -36.59% but lower than J A Finance's 412.35%.

Peers: The peers of Maha Rashtra Apx are Bajaj Finance, Jio Financial, Cholaman.Inv.&Fn, Shriram Finance, Muthoot Finance, PMC Fincorp, Capital Trust, J A Finance, and Optimus Finance.<BR><BR>Quality Snapshot: Excellent management risk is observed at Bajaj Finance, Cholaman.Inv.&Fn, Muthoot Finance, while Average management risk is found at Jio Financial, Maha Rashtra Apx, and Capital Trust. Good management risk is noted at Shriram Finance, while Below Average management risk is present at PMC Fincorp, J A Finance, Optimus Finance, and Times Guaranty. Growth is Excellent at Jio Financial and Optimus Finance, Good at Bajaj Finance, Cholaman.Inv.&Fn, Shriram Finance, and PMC Fincorp, Average at Maha Rashtra Apx and Muthoot Finance, and Below Average at Capital Trust, J A Finance, and the rest. Capital Structure is Excellent for Bajaj Finance, Jio Financial, Shriram Finance, Muthoot Finance, PMC Fincorp, Maha Rashtra Apx, Capital Trust, J A Finance, Optimus Finance, and Times Guaranty, while Good is noted for Cholaman.Inv.&Fn.<BR><BR>Return Snapshot: The peer with the highest 1-year return is J A Finance at 412.35%, while the lowest is PMC Fincorp at -36.59%. Maha Rashtra Apx's 1-year return is -25.02%, which is higher than PMC Fincorp but lower than J A Finance. Additionally, PMC Fincorp and Times Guaranty have negative six-month returns.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

With a Operating Losses, the company has a Weak Long Term Fundamental Strength

  • PBT LESS OI(Q) At Rs -4.99 cr has Fallen at -267.7% (vs previous 4Q average)
  • PAT(Q) At Rs -5.06 cr has Fallen at -274.7% (vs previous 4Q average)
  • PBDIT(Q) Lowest at Rs -0.49 cr.
2

With ROE of -1.6, it has a Very Expensive valuation with a 0.3 Price to Book Value

3

Below par performance in long term as well as near term

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Non Banking Financial Company (NBFC)

stock-summary
Market cap

INR 142 Cr (Micro Cap)

stock-summary
P/E

NA (Loss Making)

stock-summary
Industry P/E

20

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.00

stock-summary
Return on Equity

-1.64%

stock-summary
Price to Book

0.30

Revenue and Profits:
Net Sales:
0 Cr
(Quarterly Results - Mar 2026)
Net Profit:
-5 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-15.57%
0%
-15.57%
6 Months
14.92%
0%
14.92%
1 Year
-24.06%
0%
-24.06%
2 Years
-48.54%
0%
-48.54%
3 Years
-16.24%
0%
-16.24%
4 Years
10.8%
0%
10.8%
5 Years
4.33%
0%
4.33%

Maha Rashtra Apx for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

News

Maha Rashtra Apex Corporation Ltd’s 0.04% Weekly Dip: Death Cross and Deepening Losses Weigh

Key Events This Week

25 May: Stock surges 5.86% to Rs.51.32 on strong opening

27 May: Death Cross formation signals bearish momentum

27 May: Q4 FY26 results reveal deepening losses amid revenue collapse

29 May: Week closes at Rs.48.46, down 0.04% for the week

Announcements stock-summary

Board Meeting Outcome for Outcome Of The Board Meeting Held On 08 June 2026 Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015

08-Jun-2026 | Source : BSE

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 the Board of Directors of the Company at its meeting held on Monday the 08th day of June 2026 which commenced at 10:00 A.M. and concluded at 10:30 A.M. to consider and approve the agenda given under the outcome of Board Meeting

Intimation Under Regulation 30 And Regulation 31A Of SEBI (LODR) Regulations 2015 - Reclassification Of Promoter To Public Category

08-Jun-2026 | Source : BSE

Approval of Reclassifiation request from Promoter to Public category pursuant to Regulation 30 and Regulation 31 of SEBI (LODR) Regulation 2015.

Compliances-Reg.24(A)-Annual Secretarial Compliance

29-May-2026 | Source : BSE

Annual Secretarial Compliance for the Financial Year 2025-26

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

No Dividend history available

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

Maha Rashtra Apex Corporation Ltd has announced 1:1 rights issue, ex-date: 20 Mar 26

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
-6.96%
EBIT Growth (5y)
-13.63%
Net Debt to Equity (avg)
0
Institutional Holding
0.00%
ROE (avg)
15.13%

Valuation key factors

Factor
Value
P/E Ratio
NA (Loss Making)
Industry P/E
20
Price to Book Value
0.30
EV to EBIT
-136.52
EV to EBITDA
136.52
EV to Capital Employed
0.30
EV to Sales
63.79
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
ROE (Latest)
-1.64%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Bearish
Bearish
RSI
No Signal
No Signal
Bollinger Bands
Mildly Bearish
Mildly Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Bearish
Dow Theory
Mildly Bearish
Mildly Bullish
OBV
Mildly Bearish
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : May 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Manipal Holdings Private Limited (20.38%)

Highest Public shareholder

Gokuldas Hegde (1.37%)

Individual Investors Holdings

24.34%

stock-summaryFinancial
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Quarterly Results Snapshot (Consolidated) - Mar'26 - QoQstock-summary

Mar'26
Dec'25
Change(%)
Net Sales
0.06
1.97
-96.95%
Operating Profit (PBDIT) excl Other Income
-0.49
1.41
-134.75%
Interest
0.00
0.00
Exceptional Items
0.10
0.20
-50.00%
Consolidate Net Profit
-4.96
4.91
-201.02%
Operating Profit Margin (Excl OI)
-816.67%
71.57%
-888.24%
Values in Rs Cr.
Direction Arrows
Net Sales

QoQ Growth in quarter ended Mar 2026 is -96.95% vs 3,183.33% in Dec 2025

Direction Arrows
Consolidated Net Profit

QoQ Growth in quarter ended Mar 2026 is -201.02% vs 116.00% in Dec 2025

Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
1.92
1.01
90.10%
Operating Profit (PBDIT) excl Other Income
0.93
-0.96
196.88%
Interest
0.00
0.01
-100.00%
Exceptional Items
0.34
0.89
-61.80%
Consolidate Net Profit
-6.82
4.06
-267.98%
Operating Profit Margin (Excl OI)
845.45%
-95.05%
940.50%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 90.10% vs -15.83% in Sep 2024

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is -267.98% vs 44.48% in Sep 2024

Nine Monthly Results Snapshot (Consolidated) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
3.89
1.06
266.98%
Operating Profit (PBDIT) excl Other Income
2.34
-1.31
278.63%
Interest
0.00
0.01
-100.00%
Exceptional Items
0.54
1.19
-54.62%
Consolidate Net Profit
-1.91
-2.74
30.29%
Operating Profit Margin (Excl OI)
60.15%
-123.58%
183.73%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is 266.98% vs -42.08% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in nine months ended Dec 2025 is 30.29% vs 96.85% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
2.14
1.36
57.35%
Operating Profit (PBDIT) excl Other Income
0.05
-1.45
103.45%
Interest
0.00
0.00
Exceptional Items
0.64
11.07
-94.22%
Consolidate Net Profit
-6.87
19.66
-134.94%
Operating Profit Margin (Excl OI)
2.34%
-106.62%
108.96%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is 57.35% vs -84.39% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2026 is -134.94% vs -94.07% in Mar 2025

stock-summaryCompany CV
About Maha Rashtra Apex Corporation Ltd stock-summary
stock-summary
Maha Rashtra Apex Corporation Ltd
Micro Cap
Non Banking Financial Company (NBFC)
Maha Rashtra Apex Corporation Limited (MACL) was incorporated as a banking company in April, 1943 in the name of Maharashtra Apex Bank Limited. It changed the name to 'Maha Rashtra Apex Corporation Limited', in 1955, following the transfer of its banking branches to Canara Industrial and Banking Syndicate. The Company was converted into a hire-purchase company and was promoted by the late Upendra Anantha Pai.
Company Coordinates stock-summary
Company Details
3rd Floor Front Wing North Blo, Manipal Centre 47 Dickenson Rd Bangalore Karnataka : 560042
stock-summary
Tel: 91-820-2571021
stock-summary
mrachl.ho@manipal.com
Registrar Details
Purva Shareregistry (India) Pvt Ltd , Gala No 9, Shiv Shakti, Industrial Estate,Sitaram Mill Comp., J R Boricha Marg, Lower Parel [E], Mumbai