Maithan Alloys Ltd

Maithan Alloys Ltd share price declined by 1.32% to Rs 992.4 after the company's net profit witnessed a sharp fall of 659.88% to Rs 395.72 crore, while revenue from operations eased by 3.51% to Rs 539.53 crore in Q2FY26 over Q1FY26. The market capitalization of Ferro & Silica Manganese industry group stocks on BSE stood at Rs 12344.12 crore, rising by 13.38%. It has softened by 1.08% over last one week and softened by 1.11% in last one month while the market capitalization of Maithan Alloys Ltd has marginally improved by 2.49% and 0.68% in the same period respectively. Profit before tax (PBT) of Maithan Alloys Ltd stood at Rs 497.82 crore in Q2 FY26, tanking 28.47% year-on-year, and nosediving by 788.36% quarter-on-quarter. EBITDA came in at Rs 326 crore, crashing by 44.07% YoY and tumbling by 223.02% sequentially. Total expenses slightly declined by 0.91% to Rs 454.33 crore in Q2FY26 over Q2FY25. During the quarter, cost of materials consumed stood at Rs 289.32 crore, growing marginally by 2.10% YoY, while employee benefits expense was at Rs 17.11 crore, collapsing by 22.72% YoY. For the TTM ended FY26, revenue from operations inched higher 4.45% to Rs 1805.61 crore, while net profit saw a strong growth of 80.80% to Rs 630.91 crore, compared to previous TTM. EBITDA tanked by 24159% to Rs 544.32 crore, and PBT surged 89.63% to Rs 852.43 crore compared to previous TTM. The company's consolidated net cash flow from operating activities stood at Rs 49.77 crore in FY26, as against Rs 408.78 crore in FY25. Maithan Alloys Ltd fell 6.38% in last one year, significantly underperforming the benchmark BSE Sensex which has softened by 2.83% during the same period.

Maithan Alloys will hold a meeting of the Board of Directors of the Company on 4 August 2026.

Maithan Alloys announced that the Board of Directors of the Company at its meeting held on 16 May 2026, inter alia, have recommended the interim dividend of Rs 11 per equity Share (i.e. 110%) , subject to the approval of the shareholders.

Maithan Alloys announced that the Board of Directors of the Company at its meeting held on 16 May 2026, inter alia, have recommended the final dividend of Rs 6 per equity Share (i.e. 60%) , subject to the approval of the shareholders.

Maithan Alloys will hold a meeting of the Board of Directors of the Company on 16 May 2026.

The agency has, however, reaffirmed the company's short-term rating at 'Crisil A1+'. Crisil Ratings stated that the rating action reflects continuation of subdued business risk profile of MAL, particularly due to a consistently muted top line and pressure on profitability. In the first nine months of fiscal 2026, sales volume of over 1.8 lakh metric tons and moderate realization of around Rs 80,000 per ton, resulted in operating income (including other related income) being limited to Rs 1,613 crore. Power costs, forming around 30% of the total cost of sales, continue to have a significant bearing on profitability, resulting in an operating margin of 9.5% in the first nine months of fiscal 2026. In the absence of a significant reduction in power costs, the recovery in the scale of operations remains lower than expected, and scale and profitability are likely to remain range-bound over the medium term. For MAL, operating margin lowered to 7'10% in the two fiscals through 2025, down from over 13'37% in the five fiscals through 2023. Low sales volume, coupled with a moderation in realizations to around Rs 80,000 per ton in fiscals 2024'25 from over Rs 1,10,000 per ton in fiscal 2022'23, limited overall revenue to around Rs 1,700-1,800 crore in fiscals 2024-25. These factors, combined with high investments of Rs 3,636 crore as of 31 March 2025 in current and non-current assets resulted in a low return on capital employed (RoCE) of 6'9% in fiscals 2024'25. RoCE is expected to be sustained at around the same level on the basis of limited contribution from the ferro alloy segment over the medium term. The ratings continue to reflect extensive experience of promoters and strong financial risk profile. These strengths are partially offset by exposure to volatility in prices of raw materials and finished goods and cyclicality in the ferro alloys industry. MAL, established in 1985, manufactures ferroalloys such as ferro manganese, ferro silicon and silico manganese, with varying proportions of other chemical compositions. The scrip had advanced 1.30% to end at Rs 905.85 on the BSE yesterday.

Maithan Alloys announced that CRISIL has reaffirmed credit rating on short term bank facilities at CRISIL A1+ while the rating on long term bank facilities is revised from CRISIL AA; Negative to CRISIL AA-; Stable.

Net profit of Maithan Alloys declined 2.12% to Rs 88.90 crore in the quarter ended December 2025 as against Rs 90.83 crore during the previous quarter ended December 2024. Sales declined 7.68% to Rs 490.28 crore in the quarter ended December 2025 as against Rs 531.09 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales490.28531.09 -8 OPM %11.305.54 - PBDT127.27120.06 6 PBT121.52113.73 7 NP88.9090.83 -2 Powered by Capital Market - Live

Maithan Alloys will hold a meeting of the Board of Directors of the Company on 30 January 2026.Powered by Capital Market - Live

Maithan Alloys has incorporated a wholly owned subsidiary namely Maithan Capital on 18 December 2025. The object of the new subsidiary is to carry out non-banking financial activities as may be permitted by the Reserve Bank of India. Powered by Capital Market - Live