MAHSCOOTER
500266Announcement under Regulation 30 (LODR)-Change in Registered Office Address
Intimation regarding change in the Registered Office of the Company
Maharashtra Scooters Ltd (MSL), incorporated in 1975, is a publicly listed investment holding company headquartered in Pune, India. Originally set up as a joint venture between Bajaj Auto Limited and the Maharashtra government, the company initially engaged in the manufacturing and sale of geared scooters under the Bajaj brand. Over time, MSL strategically transitioned from its manufacturing operations to primarily function as an investment company, holding significant equity stakes in prominent listed entities, especially those within the Bajaj Group.
Announcement under Regulation 30 (LODR)-Change in Registered Office Address
Intimation regarding change in the Registered Office of the Company
Announcement under Regulation 30 (LODR)-Newspaper Publication
Intimation under Regulation 30 of the SEBI Listing Regulations, 2015 - Newspaper Publication
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 - Notice of Postal Ballot
Maharashtra Scooters Ltd
About
Maharashtra Scooters Ltd (MSL), incorporated in 1975, is a publicly listed investment holding company headquartered in Pune, India. Originally set up as a joint venture between Bajaj Auto Limited and the Maharashtra government, the company initially engaged in the manufacturing and sale of geared scooters under the Bajaj brand. Over time, MSL strategically transitioned from its manufacturing operations to primarily function as an investment company, holding significant equity stakes in prominent listed entities, especially those within the Bajaj Group.
Currently, MSL's principal activity centers around managing a diversified portfolio of equity shares and other financial instruments, deriving its revenues primarily from dividends, interest income, and capital gains. The company maintains a lean operational structure and its investments are mainly concentrated in blue-chip Indian stocks, providing stable cash flows and capital appreciation over the long term.
Business Model & Strategy
Maharashtra Scooters Ltd operates as an investment company, generating revenue predominantly through the accrual of dividend income and realization of capital gains from its portfolio. The bulk of its holdings are in Bajaj Group companies, such as Bajaj Auto, Bajaj Finserv, and Bajaj Holdings & Investment Ltd, among others. This strategy allows MSL to leverage the growth, stability, and governance standards of these companies, resulting in steady returns and minimized business risk.
MSL’s growth vectors are closely tied to the performance of its investee companies. The management focuses on prudent capital allocation, long-term value creation, and optimal liquidity management. The firm periodically reviews its portfolio to ensure alignment with overall group strategy and prevailing market dynamics, while maintaining a conservative risk profile and a consistent dividend policy to reward shareholders.
Management Overview
8 MembersMr.Sanjivnayan Rahulkumar Bajaj
Non-Executive - Non Independent Director-Chairperson related to PromoterMrs.Jasmine Arish Chaney
Non-Executive - Independent DirectorMr.Mayur Gajanan Patwardhan
Non-Executive - Independent DirectorMr.Mayur Chandrakant Chokshi
Non-Executive - Independent DirectorMr.Rajagopalan V
Non-Executive - Non Independent DirectorMr.Ravikumar Srinivasan
Non-Executive - Non Independent DirectorAnant Marathe
Chief Financial OfficerMr.Mangesh Deshpande
Compliance OfficerAwards & Recognition
4 Awards- Consistently recognized as part of established Bajaj Group companies in investor and governance reports (2023–2025)
- Rated with high governance and transparency standards in annual reports and third-party assessments (Morningstar, Tijori, 2024)
- Included in MSCI India Small Cap Index constituent list (2024)
- Cited positively in financial media for prudent capital management and steady dividend distribution (2023–24)
Market Information
Company Timeline
49+ Years of Excellence | 6 Major Milestones
Incorporated as Maharashtra Scooters Ltd as a joint venture between Bajaj Auto and Maharashtra government
Commenced production of geared scooters under Bajaj brand
Listing on the Bombay Stock Exchange (BSE)
Strategic shift from manufacturing operations to focus solely on investment activities
Expanded equity portfolio in Bajaj Group companies and increased overall investment corpus
Featured as an MSCI India Small Cap Index constituent and recognized for governance excellence in annual reports
The Next Evolution
Contact Information
Registered Office
C/o. Bajaj Auto Ltd, Mumbai Pune Road, Akurdi
Tel: 020-66107150 / 66106564 / 27475811 / 27472851,
Fax: 020-27472764,
Email: kulkarnins@bajajauto.co.in; ssubbramaniam@bhil.in
Website: mahascooters.com
Corporate Actions
17| Purpose | Ex Date | Record Date | BC Start | BC End |
|---|---|---|---|---|
Final Dividend ₹60 per share | 30 Jun 2026 Tuesday | 30 Jun 2026 Tuesday | - | - |
Interim Dividend ₹160 per share | 22 Sep 2025 Monday | 22 Sep 2025 Monday | - | - |
Final Dividend ₹30 per share | 27 Jun 2025 Friday | 27 Jun 2025 Friday | - | - |
Special Dividend ₹30 per share | 27 Jun 2025 Friday | 27 Jun 2025 Friday | - | - |
Interim Dividend ₹110 per share | 25 Sep 2024 Wednesday | 25 Sep 2024 Wednesday | - | - |
Final Dividend ₹60 per share | 28 Jun 2024 Friday | 28 Jun 2024 Friday | - | - |
Interim Dividend ₹110 per share | 28 Sep 2023 Thursday | 29 Sep 2023 Friday | - | - |
Final Dividend ₹60 per share | 30 Jun 2023 Friday | 30 Jun 2023 Friday | - | - |
Interim Dividend ₹100 per share | 22 Sep 2022 Thursday | 23 Sep 2022 Friday | - | - |
Final Dividend ₹80 per share | 30 Jun 2022 Thursday | 01 Jul 2022 Friday | - | - |
Dividend ₹50 per share | 08 Jul 2021 Thursday | - | 10 Jul 2021 Saturday | 21 Jul 2021 Wednesday |
Interim Dividend ₹50 per share | 03 Mar 2020 Tuesday | 04 Mar 2020 Wednesday | - | - |
Dividend ₹33 per share | 11 Jul 2019 Thursday | - | 13 Jul 2019 Saturday | 24 Jul 2019 Wednesday |
Dividend ₹33 per share | 05 Jul 2018 Thursday | - | 07 Jul 2018 Saturday | 16 Jul 2018 Monday |
Dividend ₹30 per share | 06 Jul 2017 Thursday | - | 08 Jul 2017 Saturday | 18 Jul 2017 Tuesday |
Interim Dividend ₹30 per share | 22 Mar 2016 Tuesday | 23 Mar 2016 Wednesday | - | - |
Dividend ₹30 per share | 09 Jul 2015 Thursday | - | 11 Jul 2015 Saturday | 21 Jul 2015 Tuesday |
₹15,657 Cr.
₹13,677
₹18,538 / 10,901
1014.06
₹24180.45
0.57
₹13.51
₹10.00
1.61 %
Manage Ratio
FINANCIALS
| Quarterly Results | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | - | - | - | - | - | - | - | - | 7 | 71 | 11 | 7 | 5 | 74 | 9 | 126 | 5 | 6 | 8 | 11 | 7 | 167 | 11 | 10 | 7 | 192 | 9 | 9 | 5 | 206 | 7 | 5 | 9 | 163 | 6 | 7 | 29 | 271 | 6 | 7 | 5 | 0 |
| Expenses | - | - | - | - | - | - | - | - | 5 | 6 | 5 | 5 | 4 | 5 | 7 | 7 | 4 | 4 | 6 | 8 | 4 | 4 | 6 | 8 | 5 | 7 | 5 | 8 | 5 | 6 | 6 | 5 | 6 | 3 | 2 | 2 | 1 | 1 | 0.89 | 1 | 0.86 | 0 |
| Profit | - | - | - | - | - | - | - | - | 2 | 65 | 6 | 0.68 | 2 | 69 | 2 | 107 | 1 | 2 | 3 | 3 | 2 | 136 | 3 | 2 | 1 | 190 | 3 | 0.82 | 0.48 | 198 | 1 | 0.10 | 8 | 151 | 3 | 52 | 35 | 267 | 4 | 4 | 3 | 0 |
| Tax | - | - | - | - | - | - | - | - | 0.05 | 0.10 | 0.04 | 1 | 0.03 | 0.20 | 0.22 | 11 | 0.14 | 0.34 | -0.28 | 0.03 | 0.73 | 27 | 1 | 0.66 | 0.67 | -4.42 | 1 | 0.46 | 0.21 | 2 | 0.40 | 0.07 | -20.03 | 10 | 1 | 10 | -7.18 | 3 | 1 | 1 | 1 | 0 |
| EPS | - | - | - | - | - | - | - | - | 2 | 57 | 5 | 0.60 | 1 | 60 | 2 | 94 | 1 | 2 | 2 | 2 | 2 | 119 | 3 | 1 | 1 | 166 | 3 | 0.72 | 0.42 | 173 | 0.88 | 0.10 | 7 | 132 | 3 | 45 | 31 | 234 | 4 | 4 | 3 | 0 |
| Ratios | - |
Cash Flow
Standalone Figures in Rs. Crores
| Annual Balance Sheet | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | - | - | - | 11,723 | 8,226 | 17,280 | 24,699 | 20,398 | 29,394 | 34,588 | 30,791 | - |
| Equity And Liabilities | - | - | - | 11,723 | 8,226 | 17,280 | 24,699 | 20,398 | 29,394 | 34,588 | 30,791 | - |
Shareholding Pattern
Numbers in Percentages
| Quarterly SHP Announcement Date | Jun 2016 30 Jun '16 | Sep 2016 30 Sep '16 | Dec 2016 31 Dec '16 | Mar 2017 31 Mar '17 | Jun 2017 30 Jun '17 | Sep 2017 30 Sep '17 | Dec 2017 31 Dec '17 | Mar 2018 31 Mar '18 | Jun 2018 24 Jul '18 | Sep 2018 05 Oct '18 | Dec 2018 08 Jan '19 | Mar 2019 08 Apr '19 | Jun 2019 01 Aug '19 | Sep 2019 31 Oct '19 | Dec 2019 16 Jan '20 | Mar 2020 12 May '20 | Jun 2020 15 Jul '20 | Sep 2020 20 Oct '20 | Dec 2020 19 Jan '21 | Mar 2021 19 Apr '21 | Jun 2021 20 Jul '21 | Sep 2021 20 Oct '21 | Dec 2021 19 Jan '22 | Mar 2022 12 May '22 | Jun 2022 19 Jul '22 | Sep 2022 20 Oct '22 | Dec 2022 18 Jan '23 | Mar 2023 19 Apr '23 | Jun 2023 18 Jul '23 | Sep 2023 19 Oct '23 | Dec 2023 17 Jan '24 | Mar 2024 17 Apr '24 | Jun 2024 19 Jul '24 | Sep 2024 17 Oct '24 | Dec 2024 20 Jan '25 | Mar 2025 18 Apr '25 | Jun 2025 21 Jul '25 | Sep 2025 17 Oct '25 | Dec 2025 21 Jan '26 | Mar 2026 20 Apr '26 | Jun 2026 20 Jul '26 | - |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Goverments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | - | - | - | - | - | - |
| Promoter And Promoter Group | - | - | - | - | - | - | - | - | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.05% | 51.05% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | - |
| Non Institutions | - | - | - | - | - | - | - | - | 40.17% | 40.24% | 40.22% | 39.98% | 39.51% | 39.93% | 40.76% | 40.89% | 41.23% | 41.25% | 41.32% | 41.42% | 41.50% | 41.62% | 41.67% | 41.60% | 40.87% | 40.74% | 40.56% | 40.28% | 40.04% | 39.68% | 39.50% | 39.47% | 39.07% | 38.93% | 38.83% | 39.57% | 39.60% | 38.93% | 38.87% | 38.96% | 38.96% | - |
| FII | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.66% | 3.90% | 3.93% | 4.06% | 4.16% | 4.39% | 4.43% | 4.55% | 4.73% | 4.89% | 4.91% | 5.12% | 6.21% | 6.25% | 6.34% | 6.17% | - |
| DII | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 4.54% | 4.53% | 4.78% | 4.90% | 5.15% | 5.10% | 5.09% | 5.37% | 5.34% | 5.27% | 4.52% | 4.27% | 3.85% | 3.88% | 3.69% | 3.85% | - |
| Total | - | - | - | - | - | - | - | - | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | - |
Maharashtra Scooters Ltd
Maharashtra Scooters Ltd
Maharashtra Scooters Ltd (MSL), incorporated in 1975, is a publicly listed investment holding company headquartered in Pune, India. Originally set up as a joint venture between Bajaj Auto Limited and the Maharashtra government, the company initially engaged in the manufacturing and sale of geared scooters under the Bajaj brand. Over time, MSL strategically transitioned from its manufacturing operations to primarily function as an investment company, holding significant equity stakes in prominent listed entities, especially those within the Bajaj Group.
Currently, MSL's principal activity centers around managing a diversified portfolio of equity shares and other financial instruments, deriving its revenues primarily from dividends, interest income, and capital gains. The company maintains a lean operational structure and its investments are mainly concentrated in blue-chip Indian stocks, providing stable cash flows and capital appreciation over the long term.
Maharashtra Scooters Ltd operates as an investment company, generating revenue predominantly through the accrual of dividend income and realization of capital gains from its portfolio. The bulk of its holdings are in Bajaj Group companies, such as Bajaj Auto, Bajaj Finserv, and Bajaj Holdings & Investment Ltd, among others. This strategy allows MSL to leverage the growth, stability, and governance standards of these companies, resulting in steady returns and minimized business risk.
MSL’s growth vectors are closely tied to the performance of its investee companies. The management focuses on prudent capital allocation, long-term value creation, and optimal liquidity management. The firm periodically reviews its portfolio to ensure alignment with overall group strategy and prevailing market dynamics, while maintaining a conservative risk profile and a consistent dividend policy to reward shareholders.
Consistently recognized as part of established Bajaj Group companies in investor and governance reports (2023–2025)
Rated with high governance and transparency standards in annual reports and third-party assessments (Morningstar, Tijori, 2024)
Included in MSCI India Small Cap Index constituent list (2024)
Cited positively in financial media for prudent capital management and steady dividend distribution (2023–24)
Incorporated as Maharashtra Scooters Ltd as a joint venture between Bajaj Auto and Maharashtra government
Commenced production of geared scooters under Bajaj brand
Listing on the Bombay Stock Exchange (BSE)
Strategic shift from manufacturing operations to focus solely on investment activities
Expanded equity portfolio in Bajaj Group companies and increased overall investment corpus
Featured as an MSCI India Small Cap Index constituent and recognized for governance excellence in annual reports
Peer Comparison
| S.No. | Company Name | CMP (₹) | Market Cap (₹ Cr) | Div Yld (%) | NP Qtr (₹ Cr) | Qtr Profit Var (%) | Sales Qtr (₹ Cr) | Qtr Sales Var (%) | ROCE (%) | ROE (%) | Book Value (₹) | EPS TTM (₹) | TTMPE Ratio (₹) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Not Found Data | |||||||||||||
Coming Soon
Heatmap View
Premium Feature| Company | CMP (₹) | MCap (₹ Cr) | EPS TTM (₹) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Not Found Data | |||||||||||||
Financial Ratios
Premium Feature| Company Name | P/E (TTM) | EPS (₹) | D/E | NPM | GPM | ROE (%) | ROCE (%) | P/B | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Coming Soon