Maithan Alloys

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The five things to look at first. Open one for more.

• DebtLook closerRated AA to AA- by 2 agencies.
• ResultsProfit fallingIn the Jun 2026 quarter, sales fell 15% and profit fell 26% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 75% of the company, about the same as in Jun 2025.
• ValuationExpensive vs its pastThe share trades at 7.9 times its yearly earnings (P/E), pricier than 75% of the time in the last 5 years. Its usual P/E is about 6.

Maithan Alloys against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)7.9 against a typical 11.2: cheaper than most peers (1st = cheapest).4th of 13
• Sales growth−14.6% against a typical −7.9% from a year earlier.6th of 10
• Profit growth−26.4% against a typical −80% from a year earlier.3rd of 7
• Share price, 3 months−19.3% against a typical −12%.9th of 13
• Size₹ 2,320.7 Cr. market value against a typical ₹ 113.3 Cr. (1st = largest).1st of 12

Exchange filings and their impact on the company.

• 23 Oct 2026OthersLow impactNeutralPrice −3.4% on 26 Oct
  Maithan bought another tiny 0.04% stake in Sterlite Technologies for Rs 17.24 cr as a passive market investment.

  Maithan Alloys disclosed it bought 211,661 shares of Sterlite Technologies, or 0.04% shareholding, through the stock exchange on 22 October 2026 for Rs 17.24 crore in cash. The company said it is a financial investment to earn short/long-term returns with no intent to acquire control, and no related-party interest or regulatory approval is involved. At this size it has no meaningful impact on Maithan's ferro-alloys business over the next 12 months.

  Full analysisFiling
• 22 Oct 2026OthersLow impactNeutralPrice −3% on 23 Oct
  Bought a tiny 0.05% passive stake in Sterlite Technologies for Rs 20.08 cr cash.

  Maithan Alloys bought 234,000 shares of Sterlite Technologies, or 0.05%, through the stock exchange on 21 October 2026 for Rs 20.08 crore in cash. Sterlite makes optical fibre, cables and connectivity products with FY26 turnover of Rs 2,446 crore. Maithan said it is purely a short/long-term investment with no intent to take control, so it has negligible impact on its ferro-alloys business.

  Full analysisFiling
• 22 Oct 2026OthersLow impactNeutralPrice −2% that day
  Maithan Alloys bought a 0.09% stake in Sterlite Technologies for Rs 38.72 cr as a passive investment.

  Maithan Alloys disclosed it bought 439848 shares (0.09%) of Sterlite Technologies on 19 October 2026 for Rs 38.72 crore in cash via the stock exchange. Sterlite Technologies, a telecom products maker, had FY26 turnover of Rs 2446 crore. Maithan said it is a pure investment with no intent to acquire control, so there is no operating impact.

  Full analysisFiling
• 17 Oct 2026OthersLow impactNeutralPrice −1.7% on 19 Oct
  Maithan forms 80%-owned water-EPC subsidiary with Rs 4 cr investment, too small to move near-term numbers.

  Maithan Alloys has incorporated M&M Water Solutions Private Limited on 17 October 2026 as an 80% subsidiary for water treatment, sewage treatment and wastewater recycling EPC projects. The company and its nominees subscribed to 40 lakh shares of Rs 10 each for Rs 4 crore out of Rs 5 crore paid-up capital. The new company is yet to start operations and is outside Maithan's core ferro-alloys business, so near-term impact is limited to the small initial investment.

  Full analysisFiling
• 17 Oct 2026OthersLow impactNeutralPrice −1.7% on 19 Oct
  Maithan parked Rs 20 cr in a 0.04% non-control stake in Sterlite Technologies as a treasury investment.

  Maithan Alloys disclosed it bought 228,000 shares of Sterlite Technologies, or 0.04% shareholding, through the stock exchange on 16 October 2026 for Rs 19.97 crore in cash. Sterlite Technologies had FY26 turnover of Rs 2446 crore and net worth of Rs 1526 crore. Maithan said it is a pure investment for short/long-term benefits with no intent to acquire control, so it does not change its ferro-alloys business.

  Full analysisFiling
• 14 Oct 2026OthersLow impactNeutralPrice −0.7% that day
  Maithan bought 0.05% of HFCL for Rs 20 cr as a non-control treasury investment.

  Maithan Alloys bought 780000 shares of HFCL, or 0.05%, for Rs 20 crore in cash on 13 October 2026 through the stock exchange. HFCL reported FY26 turnover of Rs 4528 crore and operates in telecom and defence equipment, optical fibre and EPC services. Maithan said the purchase is purely an investment for short-term or long-term returns with no intent to acquire control. At under 1% of Maithan's investment book and net worth, it has no operating impact.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Subhas Chandra Agarwalla

Chairman of the Board, Managing Director

Sudhanshu Agarwalla

President, Chief Financial Officer

Subodh C. Agarwalla

Chief Executive Officer, Whole-Time Director

Rajesh K. Shah

Compliance Officer, Company Secretary