Mazda Q1 FY25 Share Price & Earnings Call Analysis
- Market cap
- ₹559 Cr
- P/E
- 18.66
- ROE
- 11.49%
- PEG
- 24.89
- Price to sales
- 2.31
- Debt to equity
- 0.00
- 52W high / low
- ₹320 / ₹161
- Sales growth (5Y)
- 6.83%
- EBITDA margin
- 15.90%
- Net profit margin
- 12.99%
- Promoter holding
- 48.71%
- Sales (last year)
- ₹243 Cr
Mazda Limited, incorporated in 1990, is engaged in the business of manufacturing Engineering goods like Vacuum Products, Evaporators, Pollution Control Equipments and Manufacturing of Food Products like Food colour, Various Fruit Jams & Fruit mix Powders etc. [1]
Guidance scorecard · Q1 FY25 call
What Mazda's management guided
and where it ranks in Industrial Manufacturing
RevenueQ1 FY25 call
10–20%- Food Division: Expected 15-20% year-on-year growth; targeting ₹60 crore annual turnover within 3 years at full capacity.
- Engineering Division: Current capacity can generate ₹250-260 crore revenue; expected moderate growth of 10-15% annually, potentially 20%.
- New Products: Smart Rod anticipated to drive significant growth, with early orders from large clients like Coca-Cola; potential exponential growth if widely adopted.
- Ready-to-eat segment: Under development, expected market launch in 6-8 months, focusing on mass-market rather than niche products, maintaining current profitability with volume focus.
2 more points from Mazda's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY25 call
FlatSee what Mazda said on margins — free account, 30 seconds.
CapexQ1 FY25 call
Planned- Current manufacturing setup for Engineering division can generate revenue up to ₹250-260 Cr without substantial additional infrastructure investment.
- Space and land available at current facility for any future capacity expansion.
- No significant maintenance CapEx as the division mainly involves fabrication without sophisticated machinery.
- Ongoing R&D and product development investments in new technologies like Ion Exchange Membranes, hybrid MVR/TVR Evaporation Systems (patented), high gravity-based air pollution control equipment, and chemical-free cleaning solutions.
2 more points from Mazda's call on capex
Create a free account to keep reading this call
FundraisingQ1 FY25 call
See what Mazda said on fundraising — free account, 30 seconds.
Order bookQ1 FY25 call
Flat- Current order booking stands at approximately Rs. 115 to 120 crores.
- Domestic orders, including spares for vacuum systems, total Rs. 70 crores.
- CR (Croll-Reynolds) / Export orders for vacuum systems amount to Rs. 7 crores.
- Additional orders include air pollution control equipment (Rs. 3.5 crores), evaporators (Rs. 34 crores), and spares (~Rs. 1.5 crores).
- Delivery cycle: Vacuum systems take around 3 to 4 months; evaporators take 4 to 5 months.
- Order booking has historically ranged between Rs. 90 to 120 crores over the past five years.
2 more points from Mazda's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,207 Cr | 111.0 | |
| 2 | 40%+ | Up 0–2% | ₹549 Cr | 33.8 | |
| 3 | 40%+ | Flat | ₹8,076 Cr | 94.4 | |
| 4 | 40%+ | Flat | ₹3,732 Cr | 81.2 | |
| 5 | 40%+ | Flat | ₹2,580 Cr | 61.2 | |
| 6 | 40%+ | Flat | ₹743 Cr | 43.6 |
Sign up free to see every company in the sector ranking and track Mazda.
Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of Mazda
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Mazda
Quarterly Results
Quarter-by-quarter operating performance
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 66.90 | 51.19 | 62.71 | 53.97 | 57.55 | 36.17 | 56.79 | 46.78 | 53.52 | 49.63 | 50.84 | 47.39 | 64.19 |
| Expenses + | 51.77 | 42.19 | 54.27 | 43.72 | 45.46 | 34.45 | 47.80 | 36.09 | 45.63 | 46.40 | 40.38 | 36.60 | 54.18 |
| Operating Profit | 15.13 | 9.00 | 8.44 | 10.25 | 12.09 | 1.72 | 8.99 | 10.69 | 7.89 | 3.23 | 10.46 | 10.79 | 10.01 |
| OPM % | 22.62% | 17.58% | 13.46% | 18.99% | 21.01% | 4.76% | 15.83% | 22.85% | 14.74% | 6.51% | 20.57% | 22.77% | 15.59% |
| Other Income + | 0.61 | 1.85 | 1.00 | 1.77 | 1.96 | 3.14 | 3.88 | 0.20 | 0.92 | 4.27 | 0.82 | 1.84 | 0.12 |
| Interest | 0.16 | 0.19 | 0.10 | 0.11 | 0.15 | 0.15 | 0.07 | 0.21 | 0.10 | 0.16 | 0.25 | 0.28 | 0.32 |
| Depreciation | 0.95 | 1.00 | 1.00 | 1.00 | 1.02 | 0.96 | 0.97 | 0.98 | 0.98 | 1.02 | 1.04 | 1.06 | 1.07 |
| Profit before tax | 14.63 | 9.66 | 8.34 | 10.91 | 12.88 | 3.75 | 11.83 | 9.70 | 7.73 | 6.32 | 9.99 | 11.29 | 8.74 |
| Tax % | 27.41% | 20.39% | 25.78% | 24.20% | 27.25% | 22.93% | 24.09% | 23.51% | 28.07% | 22.31% | 24.22% | 22.67% | 28.15% |
| Net Profit + | 10.63 | 7.70 | 6.19 | 8.26 | 9.37 | 2.90 | 8.98 | 7.42 | 5.56 | 4.91 | 7.58 | 8.72 | 6.29 |
| EPS in Rs | 5.32 | 3.85 | 3.10 | 4.13 | 4.68 | 1.45 | 4.49 | 3.71 | 2.78 | 2.45 | 3.79 | 4.35 | 3.14 |
Financials of Mazda
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 118 | 122 | 110 | 107 | 139 | 180 | 152 | 165 | 192 | 225 | 193 | 212 |
| Expenses + | 101 | 104 | 97 | 93 | 120 | 155 | 129 | 137 | 154 | 186 | 163 | 178 |
| Operating Profit | 17 | 18 | 13 | 14 | 19 | 25 | 24 | 28 | 38 | 40 | 30 | 34 |
| OPM % | 15% | 15% | 12% | 13% | 14% | 14% | 16% | 17% | 20% | 18% | 16% | 16% |
| Other Income + | 1 | 2 | 5 | 4 | 3 | 2 | 2 | 3 | 2 | 7 | 7 | 7 |
| Interest | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 4 | 4 | 4 |
| Profit before tax | 16 | 17 | 15 | 14 | 19 | 22 | 22 | 28 | 36 | 42 | 33 | 36 |
| Tax % | 30% | 29% | 14% | 29% | 24% | 26% | 26% | 23% | 25% | 25% | 25% | 24% |
| Net Profit + | 11 | 12 | 13 | 10 | 14 | 17 | 16 | 21 | 27 | 32 | 25 | 28 |
| EPS in Rs | 5.27 | 5.65 | 6.07 | 4.84 | 6.62 | 8.32 | 8.16 | 10.62 | 13.32 | 15.76 | 12.41 | 13.74 |
| Dividend Payout % | 23% | 23% | 24% | 34% | 27% | 24% | 27% | 23% | 21% | 20% | 29% | 29% |
Financials of Mazda
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 87 | 95 | 114 | 120 | 130 | 128 | 143 | 160 | 182 | 208 | 226 | 245 |
| Borrowings + | 3 | 2 | 2 | 3 | 2 | 1 | 1 | 0 | 1 | 0 | 0 | 0 |
| Other Liabilities + | 29 | 31 | 20 | 24 | 37 | 34 | 24 | 28 | 38 | 28 | 35 | 66 |
| Total Liabilities | 123 | 132 | 141 | 151 | 173 | 167 | 173 | 192 | 224 | 240 | 265 | 315 |
| Fixed Assets + | 21 | 23 | 34 | 34 | 34 | 33 | 35 | 35 | 76 | 75 | 74 | 74 |
| CWIP | 0 | 3 | 4 | 4 | 8 | 17 | 25 | 40 | 0 | 0 | 1 | 0 |
| Investments | 33 | 41 | 47 | 57 | 43 | 28 | 40 | 31 | 43 | 78 | 89 | 65 |
| Other Assets + | 69 | 65 | 56 | 56 | 88 | 89 | 73 | 86 | 105 | 88 | 101 | 175 |
| Total Assets | 123 | 132 | 141 | 151 | 173 | 167 | 173 | 192 | 224 | 240 | 265 | 315 |
Financials of Mazda
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 16 | 17 | 7 | 14 | -5 | 22 | 20 | 8 | 24 | 43 | 11 | -19 |
| Cash from Investing Activity + | -9 | -17 | -10 | -7 | 10 | 4 | -20 | -5 | -15 | -30 | -9 | 24 |
| Cash from Financing Activity + | -4 | -4 | -4 | -4 | -9 | -19 | -2 | -6 | -6 | -6 | -7 | -8 |
| Net Cash Flow | 3 | -4 | -7 | 3 | -4 | 7 | -2 | -3 | 3 | 6 | -5 | -3 |
| Free Cash Flow | 11 | 10 | -8 | 13 | -12 | 10 | 10 | -7 | 19 | 40 | 7 | -23 |
| CFO/OP | 117% | 125% | 81% | 117% | 1% | 112% | 112% | 49% | 82% | 134% | 63% | -35% |
Financials of Mazda
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 70 | 68 | 75 | 85 | 79 | 67 | 76 | 92 | 70 | 54 | 77 | 102 |
| Inventory Days | 114 | 111 | 116 | 132 | 181 | 133 | 131 | 156 | 208 | 113 | 178 | 394 |
| Days Payable | 71 | 75 | 70 | 93 | 112 | 66 | 55 | 70 | 73 | 44 | 63 | 89 |
| Cash Conversion Cycle | 113 | 104 | 120 | 124 | 148 | 135 | 152 | 178 | 205 | 122 | 191 | 407 |
| Working Capital Days | 73 | 59 | 84 | 79 | 105 | 84 | 94 | 118 | 116 | 78 | 111 | 295 |
| ROCE % | 18% | 17% | 14% | 12% | 15% | 17% | 16% | 18% | 21% | 21% | 15% | 16% |
Guidance history
How Mazda's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY25 call → | 10–20% | Flat | Planned | — | Flat |
| Q1 FY24 call → | 10–20% | Flat | None planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
38 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +1.1% | 62% |
| Last 6 months | +30.5% | 82% |
| Last 3 months | +28.4% | 92% |
The price is 29.6% below its all-time high of ₹396.49 (10 Jan 2025). Stocks more than 20% below their peak have their score halved, so 76 became 38.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Mazda: 0.4 × 62 + 0.4 × 82 + 0.2 × 92 = 76, halved to 38 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Mazda's management said in earlier quarters
Others in Industrial Manufacturing this season
- Tempsens Instruments (Q2 FY27)
Q2 FY27 revenue from operations: ₹1,363.1 million, up 34.0% YoY (Page 12) . Key investor presentation takeaways from Tempsens Instruments (India) Ltd's Q2 FY27
- Syrma SGS Technology Ltd (Q2 FY27)
Q2 FY27 Revenue from Operations: ₹19,897 million, up 73.6% YoY (from ₹11,459 million in Q2 FY26) . Key investor presentation takeaways from Syrma SGS Technology
- Aaron Industries Ltd (Q2 FY27)
Q2FY27 Revenue from Operations: ₹27.12 crore, up 21.93% YoY from ₹22.24 crore in Q2FY26 (Page 16). Key investor presentation takeaways from Aaron Industries Ltd
- Praj Industries Ltd (Q2 FY27)
612.773)/612.773 ≈ 5.3% . Key investor presentation takeaways from Praj Industries Ltd's Q2 FY27 investor presentation — and how it ranks against sector peers.