Majestic Auto Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Majestic Auto Ltd trades at ₹379, in a confirmed uptrend and 5 weeks into that stage. That is +8.1% against its own 200-day average. It sits at 28% of a 52-week range of ₹335 to ₹491. On relative strength it has no relative-strength read yet.

Today the stock is in a confirmed uptrend — week 5 of stage 2, confirmed. At ₹379 it trades +8.1% versus its 200-day average and sits at 28% of its 52-week range (₹335–₹491).

Against the market, two honest reads. Cumulative: over the last 2 months the stock moved +11% while the NIFTY 500 moved +2% — ahead of the index over the full window. Recent form: no trailing-13-week read yet — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Majestic Auto Ltd trades at 13.5× P/E, mid-range by its own standards (48th percentile). Its long-run median P/E is 14.9×, measured across 8.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 13.5× is mid-range by its own standards (48th percentile), against a long-run median of 14.9× measured over 8.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Majestic Auto Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 10 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Majestic Auto Ltd reported ₹0.0 Cr of revenue in the Jun 26 quarter, −100.0% year on year. Over 10 years it has compounded at −12.8% a year. The last full year, FY26, came in at ₹35.0 Cr. The last four reported quarters add to ₹19.0 Cr.

FY26 revenue came in at ₹35.0 Cr (−45.3% on the year), capping 10 years at −12.8% compound. The latest quarter (Jun 26) printed ₹0.0 Cr, −100.0% year on year.

Pace check: the last four quarters averaged −70.3% growth against the decade's −12.8% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −69.8% over the last 4 quarters against −53.3%/yr over the last 8 — rolling over; TTM profit +638.5% vs +53.0%/yr — accelerating.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

A clean operating margin is not in our numbers for Majestic Auto Ltd — its accounts do not report the operating-profit line this section reads, which is common for lenders and holding companies. The sections above and below carry the readings this company's filings do support.

This company's accounts do not report the operating-profit line this section reads — common for lenders and holding companies classified outside the financial bucket. The revenue and net-profit sections are the cleaner reads for Majestic Auto Ltd.

🚨 Why the margin moved: operating margin went −152.0 pp year on year while gross margin went +0.0 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Majestic Auto Ltd earned ₹18.0 Cr of net profit in the Jun 26 quarter, +28.6% year on year. Full-year FY26 profit was ₹93.0 Cr. The 10-year compound rate is 23.8%. The same quarter a year earlier earned ₹14.0 Cr. 3 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹18.0 Cr, +28.6% year on year. On the full year, FY26 printed ₹93.0 Cr (+933.3%), and the 10-year compound rate is 23.8%.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 127% of Majestic Auto Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹−7.0 Cr of operating cash against ₹93.0 Cr of profit. After ₹−306 Cr of capital spending, ₹299 Cr was left as free cash.

FY26: operating cash of ₹−7.0 Cr against reported profit of ₹93.0 Cr, leaving free cash of ₹299 Cr after ₹−306 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 127% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 127%: the cash cycle tightened 118 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Majestic Auto Ltd's cash conversion cycle runs −24 days in FY26, down from 94 days in FY21. Capital spending ran ₹−151 Cr over the last 3 years. At FY26 sales of ₹35.0 Cr each day of that cycle holds about ₹0.1 Cr, so roughly ₹−2.0 Cr sits inside the business at any moment.

FY26: debtors at 0 days, inventory at 1 days — roughly 0.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −24 days, tighter than FY21's 94.

The full loop: cash goes out to suppliers and production on day 0; stock waits 1 days to sell; customers pay about 0 days after that; and suppliers themselves are paid at 25 days — netting out to the −24-day cycle.

In money terms: at FY26 sales of ₹35.0 Cr, each day of the cycle holds about ₹0.1 Cr — so the −24-day loop keeps roughly ₹−2.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹−151 Cr over the last 3 fiscal years against ₹26.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹7.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Majestic Auto Ltd earns a ROCE of 5% in FY26. That is up from a trough of −10% in FY15. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 265.7% net margin on 0.05× asset turns.

FY26 ROCE is 5%, recovered from a FY15 trough of −10% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 265.7% net margin × 0.05× asset turns × 1.04× balance-sheet leverage ≈ 13.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Majestic Auto Ltd carries ₹15.0 Cr of borrowings against ₹668 Cr of equity in FY26, a debt-to-equity of 0.02. Operating profit covers the interest bill 1×. Over 5 years borrowings went from ₹183 Cr to ₹15.0 Cr. Capital spending ran ₹−151 Cr across the last 3 of those years.

FY26: borrowings of ₹15.0 Cr against equity of ₹668 Cr — a debt-to-equity of 0.02. Operating profit covers the interest bill 1×. Over 5 years borrowings went from ₹183 Cr to ₹15.0 Cr while capital spending ran ₹−151 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Majestic Auto Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +0.0 points over 8 quarters to 75.0%; Foreign institutions: +0.0 points over 8 quarters to 0.0%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Majestic Auto Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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