India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,320 Subhas Chandra Agarwalla & family ₹1,700 Cr
Market Cap
₹2,371 Cr
MAITHANALL · NSE
Share Price
₹789.75
-3.01% today
Revenue
₹2,173 Cr
FY 2025-26 · +20.3% YoY
EBITDA
₹261 Cr
Margin 12.0%
Net Profit
₹14.23 Cr
FY 2025-26 · -98.1% YoY
P/E (TTM)
8.3x
P/B 0.6x
ROE
0.6%
ROCE 7.7%
Debt / Equity
0.10
Interest cover 19.4x
About Maithan Alloys Ltd.
Data last updated:
Maithan Alloys Ltd. is a public limited company based in Kolkata, West Bengal, India. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 19 September 1985 and has been in existence for over 41 years.
Its director Subhas Chandra Agarwalla and family are #1,320 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Kolkata, under CIN L27101WB1985PLC039503. Its GSTIN is 19AABCM7758B1ZD (West Bengal). The company holds 10 GST registrations, of which 5 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 590078 and NSE: MAITHANALL.
The company has an authorised share capital of ₹167.69 Cr and a paid-up capital of ₹29.11 Cr. It was formerly known as Maithan Steel and Casting Limited. It is led by directors including Subhas Chandra Agarwalla (Managing Director) and Subodh Agarwalla (Whole-Time Director).
Its last annual general meeting (AGM) was held on 27 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 4th Floor 9 A J C Bose Road, Kolkata, West Bengal, India – 700017.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹2,172.59 Cr, a growth of 20.3% compared to the previous year. For the same year it recorded a net profit of ₹14.23 Cr (net margin 0.7%) and EBITDA of ₹261.28 Cr (EBITDA margin 12%). The net worth stands at ₹4,150.08 Cr (up 10.5% YoY). Total assets are valued at ₹4,398.49 Cr (up 1.2% YoY).
The company has about 944 employees on its provident fund (EPFO) records. Its group structure includes 6 subsidiaries.
The company is associated with 1 brand: Maithan Alloys. As per MCA filings, the company has open charges of ₹1,186.4 Cr and satisfied charges of ₹2,038.54 Cr on record. Court records list 142 cases involving the company, including 82 filed by the company and 60 filed against it; 47 cases are pending. The company has 11 deals on record (11 market trades); the latest was in January 2026. Its 6 peer companies in the Metals and Minerals industry (Metals), with the same principal business activity (metal and metal products) are compared by revenue, 3 larger and 3 smaller; the largest is Century Metal Recycling Limited with revenue of ₹2,662.67 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website maithanalloys.com.
Company details
CIN L27101WB1985PLC039503
Registration Number 039503
Incorporation Date 19 September 1985
ROC Kolkata
Listing Status Listed - Listed on NSE (MAITHANALL); Listed on BSE (590078)
Company Status Active
Date of Last AGM 27 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Maithan Alloys has one previous CIN (Corporate Identification Number): L99999WB1985PLC039503. The current CIN is L27101WB1985PLC039503, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L27101WB1985PLC039503 | Current |
| L99999WB1985PLC039503 | Previous |
Key People
Subhas Chandra Agarwalla Managing Director Subodh Agarwalla Whole-Time Director Palghat Venkatramani Director Recognitions & Rankings of Maithan Alloys
Contact details
Maithan Alloys Ltd.'s registered office is in Kolkata, West Bengal. Its website is maithanalloys.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address4th Floor 9 A J C Bose Road, Kolkata, West Bengal, India – 700017
- IndustryEnvironment, Wind Energy Solutions
To see the full contact details of Maithan Alloys Ltd., buy the company report.
Comprehensive company report
Maithan Alloys Ltd. - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Maithan Alloys operates one associated brand: Maithan Alloys. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Ferro silicon manganese alloys are manufactured and exported globally. | maithanalloys.com |
Business activity
The main business activities of Maithan Alloys are manufacturing and trade. In detail, this covers metal and metal products and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C7 | Metal and metal products | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of Maithan Alloys Ltd., buy the company report.
Financials of Maithan Alloys Ltd.
FY 2025-26 filings availableMaithan Alloys Ltd. reported revenue of ₹2,172.59 Cr (up 20.3% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹2,173 Cr
+20.3% YoY
EBITDA
₹261 Cr
+45.9% YoY
Profit After Tax
₹14.23 Cr
-98.1% YoY
Net Worth
₹4,150 Cr
+10.5% YoY
Total Assets
₹4,398 Cr
+1.2% YoY
Total Debt
₹233 Cr
-59.8% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,173 | 1,806 | 1,729 | 2,885 | 2,992 | 1,620 | 1,831 |
| Revenue growth | +20.3% | +4.5% | -40.1% | -3.6% | +84.7% | -11.5% | - |
| EBITDA | 261 | 179 | 116 | 487 | 1,071 | 294 | 235 |
| EBITDA margin | +12.0% | +9.9% | +6.7% | +16.9% | +35.8% | +18.2% | +12.8% |
| Profit before tax | 604 | 852 | 450 | 637 | 1,082 | 299 | 279 |
| Net profit | 14.23 | 765 | 269 | 513 | 822 | 220 | 185 |
| Net profit margin | +0.7% | +42.4% | +15.6% | +17.8% | +27.5% | +13.6% | +10.1% |
| EPS (₹) | 148.97 | 216.48 | 119.88 | 171.44 | 281.02 | 79.30 | 76.27 |
| Balance sheet | |||||||
| Total assets | 4,398 | 4,347 | 3,177 | 2,828 | 2,332 | 1,574 | 1,307 |
| Net worth | 4,150 | 3,755 | 3,155 | 2,812 | 2,323 | 1,522 | 1,292 |
| Total debt | 233 | 580 | 17.21 | 11.81 | 5.20 | 48.69 | 10.41 |
| Cash & bank | 107 | 58.89 | 77.58 | 1,128 | 102 | 27.45 | 639 |
| Net working capital | 1,375 | 1,116 | 1,065 | 1,633 | 1,179 | 567 | 1,070 |
| Cash flow | |||||||
| Cash from operations | (9.86) | 49.77 | (411) | 968 | 237 | 117 | (44.95) |
| Cash from investing | 481 | (591) | 371 | (962) | (105) | (761) | 696 |
| Cash from financing | (434) | 522 | (8.69) | (5.10) | (62.10) | 37.08 | (42.51) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 540 | 559 | 490 | 491 | 632 | 435 | 531 | 464 |
| Revenue growth (YoY) | -14.7% | +28.5% | -7.7% | +5.7% | +68.6% | - | - | - |
| Other income | 417 | (159) | 75.52 | (153) | 649 | (116) | 97.06 | 179 |
| EBITDA | 90.83 | 106 | 55.41 | 32.12 | 65.39 | 76.47 | 29.40 | 49.24 |
| EBITDA margin | +16.8% | +19.0% | +11.3% | +6.5% | +10.3% | +17.6% | +5.5% | +10.6% |
| Depreciation | 5.63 | 5.64 | 5.75 | 5.92 | 5.88 | 6.30 | 6.33 | 5.51 |
| Interest | 4.55 | 14.03 | 3.66 | 13.97 | 12.44 | 8.12 | 6.40 | 5.48 |
| Profit before tax | 498 | (72.32) | 122 | (141) | 696 | (54.37) | 114 | 217 |
| Tax | 102 | (1.64) | 28.78 | (22.21) | 158 | 3.79 | 23.41 | 74.75 |
| Net profit | 396 | (70.68) | 92.74 | (119) | 538 | (58.16) | 90.32 | 143 |
| EPS (₹) | 135.01 | (24.21) | 30.55 | (41.55) | 184.17 | (20.96) | 31.20 | 49.41 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,189 | 1,825 | 1,723 | 2,908 | 3,058 | 1,620 | 1,831 |
| Revenue growth | +19.9% | +5.9% | -40.7% | -4.9% | +88.8% | -11.5% | - |
| EBITDA | 183 | 168 | 110 | 402 | 1,054 | 298 | 235 |
| EBITDA margin | +8.3% | +9.2% | +6.4% | +13.8% | +34.5% | +18.4% | +12.8% |
| Profit before tax | 564 | 850 | 449 | 563 | 1,070 | 302 | 279 |
| Net profit | (19.39) | 759 | 272 | 440 | 807 | 222 | 185 |
| Net profit margin | -0.9% | +41.6% | +15.8% | +15.1% | +26.4% | +13.7% | +10.1% |
| EPS (₹) | 149.35 | 216.79 | 120.59 | 146.52 | 277.46 | 80.05 | 76.23 |
| Balance sheet | |||||||
| Total assets | 4,385 | 4,323 | 3,091 | 2,746 | 2,330 | 1,583 | 1,314 |
| Net worth | 4,152 | 3,754 | 3,070 | 2,731 | 2,322 | 1,531 | 1,299 |
| Total debt | 231 | 565 | 17.21 | 11.81 | 5.20 | 48.69 | 10.41 |
| Cash & bank | 87.31 | 53.07 | 67.16 | 1,077 | 94.26 | 24.77 | 636 |
| Net working capital | 1,281 | 1,019 | 1,074 | 1,632 | 1,292 | 566 | 1,069 |
| Cash flow | |||||||
| Cash from operations | 6.88 | 524 | (440) | 958 | 128 | 116 | (45.39) |
| Cash from investing | 438 | (1,049) | 416 | (956) | (0.15) | (760) | 697 |
| Cash from financing | (419) | 505 | (13.61) | (13.03) | (62.10) | 37.08 | (42.61) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 571 | 577 | 519 | 502 | 654 | 439 | 540 | 470 |
| Revenue growth (YoY) | -12.7% | +31.5% | -4.0% | +6.8% | +76.4% | - | - | - |
| Other income | 432 | (162) | 88.90 | (142) | 660 | (113) | 97.99 | 180 |
| Total expenses | 502 | 507 | 488 | 486 | 604 | 378 | 509 | 417 |
| EBITDA | 68.61 | 70.25 | 30.09 | 16.31 | 50.02 | 60.52 | 30.76 | 53.74 |
| EBITDA margin | +12.0% | +12.2% | +5.8% | +3.2% | +7.7% | +13.8% | +5.7% | +11.4% |
| Depreciation | 4.51 | 3.25 | 3.35 | 3.53 | 3.53 | 3.78 | 3.75 | 3.72 |
| Interest | 4.44 | 13.31 | 3.40 | 12.11 | 12.10 | 7.76 | 6.09 | 5.80 |
| Profit before tax | 492 | (108) | 112 | (141) | 695 | (63.59) | 119 | 224 |
| Tax | 97.37 | (20.44) | 25.76 | (28.81) | 153 | 2.64 | 23.71 | 72.56 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 23 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 540 | 559 | 490 | 491 | 632 | 435 | 531 | 464 |
| Revenue growth (YoY) | -14.7% | +28.5% | -7.7% | +5.7% | +68.6% | - | - | - |
| Other income | 417 | (159) | 75.52 | (153) | 649 | (116) | 97.06 | 179 |
| EBITDA | 90.83 | 106 | 55.41 | 32.12 | 65.39 | 76.47 | 29.40 | 49.24 |
| EBITDA margin | +16.8% | +19.0% | +11.3% | +6.5% | +10.3% | +17.6% | +5.5% | +10.6% |
| Depreciation | 5.63 | 5.64 | 5.75 | 5.92 | 5.88 | 6.30 | 6.33 | 5.51 |
| Interest | 4.55 | 14.03 | 3.66 | 13.97 | 12.44 | 8.12 | 6.40 | 5.48 |
| Profit before tax | 498 | (72.32) | 122 | (141) | 696 | (54.37) | 114 | 217 |
| Tax | 102 | (1.64) | 28.78 | (22.21) | 158 | 3.79 | 23.41 | 74.75 |
| Net profit | 396 | (70.68) | 92.74 | (119) | 538 | (58.16) | 90.32 | 143 |
| EPS (₹) | 135.01 | (24.21) | 30.55 | (41.55) | 184.17 | (20.96) | 31.20 | 49.41 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,173 | 1,806 | 1,729 | 2,885 | 2,992 | 1,620 | 1,831 |
| Revenue growth | +20.3% | +4.5% | -40.1% | -3.6% | +84.7% | -11.5% | - |
| Other income | 412 | 721 | 358 | 175 | 32.11 | 23.97 | 66.16 |
| Total expenses | 1,911 | 1,627 | 1,613 | 2,398 | 1,922 | 1,325 | 1,596 |
| Employee cost | 46.92 | 27.82 | 29.42 | 38.09 | 33.12 | 25.93 | 27.17 |
| EBITDA | 261 | 179 | 116 | 487 | 1,071 | 294 | 235 |
| EBITDA margin | +12.0% | +9.9% | +6.7% | +16.9% | +35.8% | +18.2% | +12.8% |
| Depreciation | 23.19 | 23.29 | 20.78 | 20.21 | 16.91 | 15.62 | 15.81 |
| Interest | 46.15 | 24.15 | 3.03 | 4.78 | 3.44 | 3.19 | 5.89 |
| Profit before tax | 604 | 852 | 450 | 637 | 1,082 | 299 | 279 |
| Tax | 163 | 222 | 101 | 138 | 264 | 69.43 | 57.24 |
| Net profit | 14.23 | 765 | 269 | 513 | 822 | 220 | 185 |
| Net profit margin | +0.7% | +42.4% | +15.6% | +17.8% | +27.5% | +13.6% | +10.1% |
| EPS (₹) | 148.97 | 216.48 | 119.88 | 171.44 | 281.02 | 79.30 | 76.27 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 33.23 | 37.61 | 42.11 | 37.11 | 29.11 | 29.11 | 29.11 |
| Reserves & surplus | 4,117 | 3,717 | 3,113 | 2,775 | 2,294 | 1,492 | 1,263 |
| Shareholders' funds (net worth) | 4,150 | 3,755 | 3,155 | 2,812 | 2,323 | 1,522 | 1,292 |
| Minority interest | 12.50 | 9.09 | 0.99 | 0.99 | 0.72 | (0.26) | 0.53 |
| Secured loans | 231 | 577 | 13.90 | 8.41 | 1.72 | 45.14 | 6.84 |
| Unsecured loans | 1.90 | 3.22 | 3.31 | 3.40 | 3.48 | 3.55 | 3.57 |
| Total debt | 233 | 580 | 17.21 | 11.81 | 5.20 | 48.69 | 10.41 |
| Total liabilities | 4,398 | 4,347 | 3,177 | 2,828 | 2,332 | 1,574 | 1,307 |
| Assets | |||||||
| Gross block | 469 | 466 | 384 | 378 | 367 | 287 | 284 |
| Net block | 304 | 312 | 253 | 267 | 276 | 203 | 217 |
| Capital work in progress | 1.48 | 1.24 | 54.24 | 2.50 | 0.33 | 0.00 | 1.10 |
| Investments | 2,840 | 3,056 | 1,788 | 870 | 824 | 795 | 5.82 |
| Inventories | 1,247 | 1,086 | 350 | 304 | 676 | 349 | 277 |
| Sundry debtors | 130 | 143 | 387 | 423 | 689 | 436 | 281 |
| Cash & bank balances | 107 | 58.89 | 77.58 | 1,128 | 102 | 27.45 | 639 |
| Loans & advances | 194 | 98.72 | 487 | 63.13 | 104 | 47.22 | 53.26 |
| Total current assets | 1,678 | 1,387 | 1,302 | 1,918 | 1,571 | 859 | 1,250 |
| Total current liabilities | 303 | 271 | 237 | 285 | 392 | 293 | 179 |
| Net working capital | 1,375 | 1,116 | 1,065 | 1,633 | 1,179 | 567 | 1,070 |
| Total assets | 4,398 | 4,347 | 3,177 | 2,828 | 2,332 | 1,574 | 1,307 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 21.80 | 40.84 | 89.50 | 88.37 | 18.56 | 625 | 16.60 |
| Net cash from operating activities | (9.86) | 49.77 | (411) | 968 | 237 | 117 | (44.95) |
| Net cash from investing activities | 481 | (591) | 371 | (962) | (105) | (761) | 696 |
| Net cash from financing activities | (434) | 522 | (8.69) | (5.10) | (62.10) | 37.08 | (42.51) |
| Net change in cash | 37.16 | (19.04) | (48.66) | 1.13 | 69.81 | (607) | 609 |
| Closing cash | 107 | 58.89 | 77.58 | 1,128 | 102 | 27.45 | 639 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +20.3% | +4.5% | -40.1% | -3.6% | +84.7% | -11.5% | - |
| EBITDA growth | +45.9% | +54.6% | -76.2% | -54.5% | +263.8% | +25.3% | - |
| PBT growth | -29.2% | +89.6% | -29.4% | -41.2% | +261.4% | +7.2% | -14.6% |
| Net income growth | -98.1% | +183.9% | -47.5% | -37.5% | +274.2% | +18.5% | - |
| Revenue CAGR (3Y) | -9.0% | -15.5% | +2.2% | +16.4% | +14.6% | -4.8% | +10.9% |
| EBITDA CAGR (3Y) | -18.7% | -44.9% | -26.7% | +27.5% | +48.9% | -8.5% | -4.9% |
| Profitability & leverage | |||||||
| Net income margin | +20.3% | +34.9% | +20.2% | +17.3% | +27.3% | +14.2% | +12.1% |
| Return on capital employed | +7.7% | +28.2% | +11.7% | +24.9% | +55.6% | +21.0% | +19.7% |
| Return on net worth | +0.6% | +22.2% | +9.1% | +19.5% | +42.6% | +16.4% | +15.4% |
| Debt / equity | 0.10 | 0.09 | 0.00 | 0.00 | 0.01 | 0.02 | 0.01 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 19.38 | 15.51 | 3.19 | 1.02 | 0.33 | 1.14 | 2.69 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 4.65 | 4.25 | 4.54 | 7.75 | 9.15 | 5.67 | 6.43 |
| Inventory turnover | 1.86 | 2.52 | 5.29 | 5.89 | 5.84 | 5.18 | 6.81 |
| Debtors turnover | 15.87 | 6.80 | 4.26 | 5.19 | 5.32 | 4.52 | 6.82 |
| EPS (₹) | 148.97 | 216.48 | 119.88 | 171.44 | 281.02 | 79.30 | 76.27 |
| Dividend per share (₹) | 17.00 | 16.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| Book value per share (₹) | 1,424.24 | 1,286.87 | 1,079.32 | 963.33 | 798.03 | 522.71 | 443.91 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 571 | 577 | 519 | 502 | 654 | 439 | 540 | 470 |
| Revenue growth (YoY) | -12.7% | +31.5% | -4.0% | +6.8% | +76.4% | - | - | - |
| Other income | 432 | (162) | 88.90 | (142) | 660 | (113) | 97.99 | 180 |
| Total expenses | 502 | 507 | 488 | 486 | 604 | 378 | 509 | 417 |
| EBITDA | 68.61 | 70.25 | 30.09 | 16.31 | 50.02 | 60.52 | 30.76 | 53.74 |
| EBITDA margin | +12.0% | +12.2% | +5.8% | +3.2% | +7.7% | +13.8% | +5.7% | +11.4% |
| Depreciation | 4.51 | 3.25 | 3.35 | 3.53 | 3.53 | 3.78 | 3.75 | 3.72 |
| Interest | 4.44 | 13.31 | 3.40 | 12.11 | 12.10 | 7.76 | 6.09 | 5.80 |
| Profit before tax | 492 | (108) | 112 | (141) | 695 | (63.59) | 119 | 224 |
| Tax | 97.37 | (20.44) | 25.76 | (28.81) | 153 | 2.64 | 23.71 | 72.56 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,189 | 1,825 | 1,723 | 2,908 | 3,058 | 1,620 | 1,831 |
| Revenue growth | +19.9% | +5.9% | -40.7% | -4.9% | +88.8% | -11.5% | - |
| Other income | 443 | 725 | 357 | 181 | 34.79 | 23.72 | 65.92 |
| Total expenses | 2,006 | 1,657 | 1,613 | 2,506 | 2,004 | 1,322 | 1,596 |
| Employee cost | 43.72 | 26.12 | 28.95 | 34.85 | 32.17 | 25.87 | 27.06 |
| EBITDA | 183 | 168 | 110 | 402 | 1,054 | 298 | 235 |
| EBITDA margin | +8.3% | +9.2% | +6.4% | +13.8% | +34.5% | +18.4% | +12.8% |
| Depreciation | 18.45 | 20.77 | 15.17 | 14.51 | 15.28 | 15.62 | 15.81 |
| Interest | 42.86 | 23.32 | 2.92 | 4.64 | 3.44 | 3.19 | 5.89 |
| Profit before tax | 564 | 850 | 449 | 563 | 1,070 | 302 | 279 |
| Tax | 129 | 218 | 98.04 | 137 | 262 | 69.41 | 57.24 |
| Net profit | (19.39) | 759 | 272 | 440 | 807 | 222 | 185 |
| Net profit margin | -0.9% | +41.6% | +15.8% | +15.1% | +26.4% | +13.7% | +10.1% |
| EPS (₹) | 149.35 | 216.79 | 120.59 | 146.52 | 277.46 | 80.05 | 76.23 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 29.11 | 29.11 | 29.11 | 29.11 | 29.11 | 29.11 | 29.11 |
| Reserves & surplus | 4,122 | 3,725 | 3,041 | 2,702 | 2,293 | 1,502 | 1,270 |
| Shareholders' funds (net worth) | 4,152 | 3,754 | 3,070 | 2,731 | 2,322 | 1,531 | 1,299 |
| Secured loans | 229 | 562 | 13.90 | 8.41 | 1.72 | 45.14 | 6.84 |
| Unsecured loans | 1.90 | 3.22 | 3.31 | 3.40 | 3.48 | 3.55 | 3.57 |
| Total debt | 231 | 565 | 17.21 | 11.81 | 5.20 | 48.69 | 10.41 |
| Total liabilities | 4,385 | 4,323 | 3,091 | 2,746 | 2,330 | 1,583 | 1,314 |
| Assets | |||||||
| Gross block | 352 | 370 | 263 | 255 | 249 | 277 | 276 |
| Net block | 195 | 219 | 145 | 151 | 160 | 193 | 207 |
| Capital work in progress | 0.97 | 0.27 | 0.68 | 1.52 | 0.25 | 0.00 | 1.10 |
| Investments | 3,003 | 3,220 | 1,869 | 938 | 849 | 815 | 26.35 |
| Inventories | 674 | 602 | 340 | 272 | 608 | 349 | 277 |
| Sundry debtors | 128 | 145 | 388 | 423 | 762 | 436 | 281 |
| Cash & bank balances | 87.31 | 53.07 | 67.16 | 1,077 | 94.26 | 24.77 | 636 |
| Loans & advances | 690 | 472 | 498 | 118 | 194 | 47.16 | 54.25 |
| Total current assets | 1,579 | 1,272 | 1,292 | 1,891 | 1,658 | 857 | 1,248 |
| Total current liabilities | 298 | 254 | 218 | 259 | 367 | 290 | 179 |
| Net working capital | 1,281 | 1,019 | 1,074 | 1,632 | 1,292 | 566 | 1,069 |
| Total assets | 4,385 | 4,323 | 3,091 | 2,746 | 2,330 | 1,583 | 1,314 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 17.04 | 36.80 | 72.88 | 84.10 | 18.26 | 625 | 16.33 |
| Net cash from operating activities | 6.88 | 524 | (440) | 958 | 128 | 116 | (45.39) |
| Net cash from investing activities | 438 | (1,049) | 416 | (956) | (0.15) | (760) | 697 |
| Net cash from financing activities | (419) | 505 | (13.61) | (13.03) | (62.10) | 37.08 | (42.61) |
| Net change in cash | 25.65 | (19.76) | (37.19) | (11.22) | 65.84 | (607) | 609 |
| Closing cash | 87.31 | 53.07 | 67.16 | 1,077 | 94.26 | 24.77 | 636 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +19.9% | +5.9% | -40.7% | -4.9% | +88.8% | -11.5% | - |
| EBITDA growth | +8.5% | +52.6% | -72.6% | -61.9% | +254.2% | +26.7% | - |
| PBT growth | -33.6% | +89.2% | -20.2% | -47.4% | +253.8% | +8.4% | -14.6% |
| Net income growth | -102.6% | +179.6% | -38.2% | -45.5% | +263.7% | +19.7% | - |
| Revenue CAGR (3Y) | -9.0% | -15.8% | +2.1% | +16.7% | +15.4% | -4.8% | +10.9% |
| EBITDA CAGR (3Y) | -23.1% | -45.8% | -28.2% | +19.6% | +48.1% | -8.2% | -5.6% |
| Profitability & leverage | |||||||
| Net income margin | +19.9% | +34.6% | +20.4% | +14.7% | +26.4% | +14.4% | +12.1% |
| Return on capital employed | +6.1% | +28.2% | +12.0% | +22.4% | +54.9% | +21.1% | +19.6% |
| Return on net worth | -0.5% | +22.3% | +9.4% | +16.9% | +41.9% | +16.5% | +15.3% |
| Debt / equity | 0.10 | 0.09 | 0.01 | 0.00 | 0.01 | 0.02 | 0.01 |
| Long-term debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 26.11 | 15.81 | 3.07 | 1.20 | 0.33 | 1.13 | 2.69 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 6.07 | 5.76 | 6.65 | 11.54 | 11.61 | 5.86 | 6.65 |
| Inventory turnover | 3.43 | 3.88 | 5.63 | 6.60 | 6.39 | 5.18 | 6.81 |
| Debtors turnover | 16.01 | 6.85 | 4.25 | 4.91 | 5.10 | 4.52 | 6.82 |
| EPS (₹) | 149.35 | 216.79 | 120.59 | 146.52 | 277.46 | 80.05 | 76.23 |
| Dividend per share (₹) | 17.00 | 16.00 | 6.00 | 6.00 | 6.00 | 6.00 | 6.00 |
| Book value per share (₹) | 1,426.16 | 1,289.76 | 1,054.74 | 938.06 | 797.69 | 525.93 | 446.38 |
To see the full year-wise statements and ratios of Maithan Alloys Ltd., buy the company report.
Board of directors of Maithan Alloys Ltd.
Maithan Alloys has 7 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Subhas Chandra Agarwalla Also directs: Maithan Fresh Private Limited, Maithan Nutrition Private Limited, Super Bright Textiles & Fiance Pvt. Ltd. and 5 more | Managing Director | 15 Apr 1992 | 34 Years 6 Months | Current |
| Subodh Agarwalla Also directs: Maithan Fresh Private Limited, Maithan Nutrition Private Limited, Impex Metal & Ferro Alloys Ltd and 5 more | Whole-Time Director | 01 Jul 2006 | 20 Years 3 Months | Current |
| Palghat Venkatramani | Director | 29 Jun 2012 | 14 Years 3 Months | Current |
| Srinivas Peddi Also directs: Impex Metal & Ferro Alloys Ltd, Goldtree Impex Private Limited | Director | 24 Jun 2021 | 5 Years 3 Months | Current |
| Naresh Kumar Jain | Director | 10 Feb 2024 | 2 Years 8 Months | Current |
| Aayush Khetawat | Director | 14 Aug 2024 | 2 Years 2 Months | Current |
Showing 6 of 7 current directors. View all directors
Peer comparison
Maithan Alloys Ltd. is compared with the 6 companies closest to it by revenue in the Metals and Minerals industry (Metals), with the same principal business activity (metal and metal products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Century Metal Recycling Limited | ₹2,662.67 Cr (FY 2020) | -7.0% | Faridabad, Haryana, India | |||
| Indian Metals and Ferro Alloys Ltd. | ₹2,631.05 Cr (FY 2025) | -7.0% | Bhubaneswar, Odisha, India | |||
| Sree Metaliks Ltd. | ₹2,538.37 Cr (FY 2025) | 22.0% | Kolkata, West Bengal, India | |||
| Agrawal Metal Works Private Limited | ₹2,522.55 Cr (FY 2025) | 23.0% | New Delhi, Delhi, India | |||
| Mudra Precious Metals Private Limited | ₹2,337.05 Cr (FY 2025) | 132.0% | Ahmedabad, Gujarat, India | |||
| CMR Nikkei India Private Limited | ₹2,289.3 Cr (FY 2025) | 22.0% | Palwal, Haryana, India | |||
| Maithan Alloys Ltd.this company | ₹2,172.59 Cr (FY 2026) | ₹14.23 Cr | 0.7% | 20.3% | 944 | Kolkata, West Bengal, India |
To see the full peer comparison of Maithan Alloys Ltd., buy the company report.
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 75.00%, foreign institutional investors hold 1.10%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 24.00%.
Sep 2026
QUARTER
75.00% Promoters
1.10% FII (Foreign Institutional)
24.00% Retail & Others
Promoter holding - history
Now 75.00% · Sep 2026High 75.00% · Dec 2025Low 75.00% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 75.00% | 75.00% | 75.00% | 75.00% |
| Public | 25.00% | 25.00% | 25.00% | 25.00% |
Charges & borrowings
Open charges
₹1,186.4 Cr
Satisfied charges
₹2,038.54 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 May 2025 | 101105376 | Others | ₹75 Cr | Open | |
| 02 Feb 2009 | 10147067 | State Bank of India | ₹555.7 Cr | Open | |
| 02 Feb 2009 | 10147068 | Sbicap Trustee Company Limited | ₹555.7 Cr | Open | |
| 04 Jul 2018 | 100213055 | Hdfc Bank Limited | ₹75 Cr | Satisfied | |
| 21 Jun 2017 | 100106414 | Citi Bank N.A. | ₹75.56 Cr | Satisfied |
To see the full charge records of Maithan Alloys Ltd., buy the company report.
Total charge records: 33 View all charges
Deals & funding
Maithan Alloys Ltd. has 11 deals on record (11 market trades); the latest was in January 2026.
Total deals
11
Market trades
11
Deals on record (5 of 11)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2026 | Market trade | ₹87.89 Cr | Buyer: NK Securities Research Private Limited , Musigma Securities, Microcurves Trading Private Limited Seller: NK Securities Research Private Limited , Musigma Securities, Microcurves Trading Private Limited |
| Dec 2023 | Market trade | ₹28.15 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| May 2021 | Market trade | ₹11.15 Cr | Buyer: Ma Kalyaneshwari Holdings Private Limited Seller: an individual |
| Apr 2021 | Market trade | ₹68.82 Cr | Buyer: Ma Kalyaneshwari Holdings Private Limited Seller: 4 individuals |
| Apr 2018 | Market trade | ₹183.65 Cr | Buyer: 2 individuals Seller: 3 individuals |
To see the full deal history of Maithan Alloys Ltd., buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Maithan Alloys Ltd. has 142 court cases on record: 82 filed by Maithan Alloys, 60 filed against it. 47 cases are pending and 95 are disposed.
Total cases
142
Filed by the company
82
Filed against the company
60
Pending
47
Disposed
95
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 58 | 20 | 14 |
| District courts | 52 | 25 | 24 |
| NCLAT | 18 | 9 | 7 |
| Supreme Court | 11 | 6 | 2 |
| NCLT | 3 | 0 | 0 |
Cases on record (5 of 142)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (2407-Indirect Taxation : Entry tax, motor vehicle tax, purchase tax, entertainment tax, terminal tax, octroi, toll tax, professional tax, Gold Control Act, Hotel Receipts Tax Act, Water and sewage Tax, luxury tax, Cess Acts) | Filed by the company against State of Chhattisgarh and 1 other | Pending |
| Supreme Court | Appeal | Filed against the company by Damodar Valley Corporation | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Eastern Power Distribution Company of Andhra Pradesh Limited & Anr | Pending |
| District court, Paschim Bardhaman, West Bengal | Civil suit | Filed by the company against Mitra S.K Pvt Ltd and 1 other | Pending |
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed against the company by Eastern Power Distribution Company of Andhra Pradesh Limited | Pending |
To see the full case history of Maithan Alloys Ltd., buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Maithan Alloys Ltd. was last rated by Indiarating on 06 Dec 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 06 Dec 2022 |
To see the full credit ratings and regulatory alerts of Maithan Alloys Ltd., buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Maithan Alloys Ltd.; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Maithan Alloys has 6 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
6
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Anjaney Minerals Limited | U13100WB2008PLC130114 | |
| Axl- Exploration Private Limited | U14292OR1999PTC005643 | |
| Impex Metal & Ferro Alloys Limited | U27101WB1991PLC051901 | |
| Maithan Ferrous Private Limited | U27300WB2019PTC235113 | |
| Ramagiri Renewable Energy Limited | U40100MH1997PLC105323 | |
| Salanpur Sinters Private Limited | U60100WB2012PTC188035 |
To see the full group structure of Maithan Alloys Ltd., buy the company report.
Employees & EPFO
Maithan Alloys Ltd. has a workforce of 944 employees on its EPFO records as of Apr 09, 2024, across 4 active EPFO establishments.
Employee count
944
Active EPFO establishments
4
Employee growth
1.51%
GST
Maithan Alloys has 10 GST registrations: 5 active and 5 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
10
Active
5
Cancelled / inactive
5
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 19AABCM7758B1ZD | West Bengal | Active | 01 Jul 2017 |
| 19AABCM7758B2ZC | West Bengal | Active | 26 Jul 2017 |
| 17AABCM7758B1ZH | Meghalaya | Active | 01 Jul 2017 |
| 37AABCM7758B1ZF | Andhra Pradesh | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Maithan Alloys Ltd., buy the company report.
Recent activity
Maithan Alloys Ltd. has 35 board changes on record since 1985: 22 appointments and 13 cessations. The latest: Nand Kishore Agarwal ceased to be Director on 21 Sep 2024.
Filing
Maithan Alloys Ltd. has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Kolkata I.
Charges
A charge with Sbicap Trustee Company Limited of Rs. 555.70 Cr registered on 02 Feb 2009 with Charge ID 10147068 was modified on 02 Jan 2026.
Charges
A charge registered on 07 Sep 2007 via Charge ID 10066687 with Axis Bank Limited was fully satisfied on 21 Nov 2025.
AGM
Maithan Alloys Ltd. last Annual general meeting of members was held on 27 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 75.00 Cr with Charge ID 101105376 was registered on 23 May 2025.
Ceased
Nand Kishore Agarwal ceased to be Director.
Appointed
Aayush Khetawat was appointed as Director.
Appointed
Naresh Kumar Jain was appointed as Director.
Appointed
Sonal Choubey was appointed as Director.
Ceased
Kalpana Biswas Kundu ceased to be Director.
Ceased
Ashok Bhandari ceased to be Director.
Charges
A charge registered on 25 Nov 2011 via Charge ID 10325779 with Others was fully satisfied on 21 Feb 2023.
106 earlier events are in the company report.
News
Maithan Alloys: Company Acquires 0.04% Stake In Sterlite Technologies For ₹19.97 Crore Through Stock Market.
Maithan Alloys: Customs Conducts Search And Seizure At Visakhapatnam Facility; No Financial Impact Reported; Operations Continue As Usual; Disclosure Issued On 13 October 2026.
Maithan Alloys: Company Acquires 0.07% Stake In HFCL Limited For ₹29.72 Crore; Transaction Finalized On October 8, 2026 With No Related Party Deals
Maithan Alloys: Company Acquires 0.03% Stake In HFCL Limited For ₹10.44 Crore; Acquisition Finished On October 6, 2026; No Related Party Transactions Occurred.
Frequently asked questions
Maithan Alloys is an active public limited company based in Kolkata, West Bengal, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 19 September 1985 (41+ years old) and is registered under CIN L27101WB1985PLC039503. Listed on BSE: 590078 and NSE: MAITHANALL.
Maithan Alloys reported revenue of ₹2,172.59 Cr for FY 2025-26 (up 20.3% YoY) based on consolidated financials.
Maithan Alloys has 7 current directors:
- Subhas Chandra Agarwalla - Managing Director
- Subodh Agarwalla - Whole-Time Director
- Palghat Venkatramani - Director
- Srinivas Peddi - Director
- Naresh Kumar Jain - Director
- Aayush Khetawat - Director
- Sonal Choubey - Director
The latest financial statements of Maithan Alloys on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 27 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Maithan Alloys is 19AABCM7758B1ZD, registered in West Bengal. The company has 10 GST registrations in all, of which 5 are active and 5 are cancelled or inactive. Other active GSTINs include 19AABCM7758B2ZC (West Bengal), 17AABCM7758B1ZH (Meghalaya), 37AABCM7758B1ZF (Andhra Pradesh).
The CIN (Corporate Identification Number) of Maithan Alloys is L27101WB1985PLC039503. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Maithan Alloys is a listed company as per MCA records. Its shares are listed on both BSE (code: 590078) and NSE (symbol: MAITHANALL).
Maithan Alloys has 142 court cases on record: 82 filed by the company and 60 filed against it. 47 are pending. Most are in the high courts.
Maithan Alloys was incorporated on 19 September 1985, making it 41+ years old. It is registered with the Registrar of Companies, Kolkata.
Maithan Alloys has 11 deals on record (11 market trades); the latest was in January 2026.
The peers of Maithan Alloys by revenue are Century Metal Recycling Limited, Indian Metals and Ferro Alloys Ltd, Sree Metaliks Ltd, Agrawal Metal Works Private Limited, Mudra Precious Metals Private Limited and 1 more, all in the Metals and Minerals industry (Metals), with the same principal business activity (metal and metal products).