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Prices as of 8 Oct 2026 close · Not investment advice

Shah Alloys Limited

NSE: SHAHALLOYSIron & Steel ProductsTrade-to-trade true

Share price

₹80.00

-0.70% close of 8 Oct 2026

Market cap ₹160 CrP/E —

Business score

How strong the business is, in one number. The parts behind it are in Pro.

33

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹160 Cr

P/E ratio

—

P/B ratio

1.4

ROCE

0.5%

ROE

-100.0%

Dividend yield

0.0%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹113.0052-week low ₹56.75

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step up at Dec 2025 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step up at Dec 2025 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

It has no earnings, so there is no price-to-earnings to compare.

Whether growth justifies the valuation

It has no earnings to weigh the price against.

Profit growthPrice per ₹1 profitPer 1% growth
Shah Alloys Limited — this one2%/yr——
Usha Martin Limited9%/yr28.6×₹3.2
Godawari Power And Ispat limited1%/yr15.6×₹15.6
Gallantt Ispat Limited51%/yr27.8×₹0.55
Jayaswal Neco Industries Limited20%/yr15.7×₹0.79
Maharashtra Seamless Limited-3%/yr11.7×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Iron & Steel Products), it ranks 68 of 70 on returns, 60 of 68 on growth, 25 of 70 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 0.5% on capital, ahead of 3% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹40 crore of cash from the business, spent ₹84 crore on plant and equipment, and returned ₹137 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 11 years, about 168 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back faster than it used to: it went from being paid 46 days before it paid its own suppliers to paid 453 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

6 of 9 checks clear · 67%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 12 Aug 2026 · Standalone · Unaudited

Revenue

₹0 Cr

Net profit

-₹2 Cr

EPS

₹-1.05

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹160 Cr
Prev close
₹80.00
52w High
₹117
52w Low
₹53.1
Enterprise value
₹222 Cr
Beta
0.9
Price CAGR 1y
15.0%
Price CAGR 3y
14.0%
Price CAGR 5y
18.0%
Price CAGR 10y
22.0%

Ratios

Return on assets
51.9%
PEG ratio
—
P/E ratio
—
P/B ratio
1.4
EV / EBITDA
31.1
Industry P/E
24.9
ROCE
0.5%
ROCE 5y average
10.4%
ROE
-100.0%
Debt / Equity
0.6
Interest coverage
34.3
Dividend yield
0.0%
ROE 3y average
-109.0%
ROE last year
-101.0%

Annual P&L

Annual revenue
₹37 Cr
Annual profit
₹108 Cr
Operating margin
13.0%
Net profit margin
291.9%
EBITDA margin
13.5%
Sales growth 3y
-61.0%
Sales growth 5y
-40.6%
Profit growth 3y
2.0%
Profit growth 5y
-14.0%
EPS
₹54.4
Sales growth TTM
-86.0%
Profit growth TTM
-167.0%
Dividend payout
0.0%

Quarter P&L

Sales latest quarter
₹2 Cr
Profit latest quarter
-₹8 Cr
YoY quarterly sales growth
-92.6%
YoY quarterly profit growth
—
OPM latest quarter
37.8%

Balance Sheet

Book Value
₹56.5
Face Value
₹10.0
Total debt
₹63 Cr
Total cash
₹1 Cr
Borrowings
₹63 Cr
Reserves / Equity
4.7

Cash Flow

Operating cash flow
-₹71 Cr
Free cash flow
₹8 Cr
FCF yield
3.0%
Net cash flow
-₹2 Cr

Shareholding

Promoter holding
53.8%
FII holding
0.0%
DII holding
—
Public holding
46.3%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Welspun Corp2,654.8530.370,0320.181,047.9198.64,081.114.922.9
APL Apollo Tubes2,070.0046.757,4750.40263.110.95,606.78.431.8
Shyam Metalics1,063.3526.429,6810.42350.718.15,455.123.413.0
Ratnamani Metals2,487.9039.717,4380.40107.0-37.7971.6-15.617.9
Jindal Saw267.7026.217,1200.7290.8-75.44,452.39.010.4
Usha Martin502.1528.115,3030.73142.040.71,033.016.419.5
Godawari Power206.8517.013,9260.47222.42.71,750.532.320.5
Shah Alloys82.101630.00-8.43.62.3-92.60.5
Median169.5022.69640.0014.328.3213.216.613.0

Competes with: APL Apollo Tubes Limited, Gallantt Ispat Limited, Godawari Power And Ispat limited, Jindal Saw Limited, Ratnamani Metals & Tubes Limited, Shyam Metalics and Energy Limited, Usha Martin Limited, Welspun Corp Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales154160181145128119665230242.96112.25
Expenses159156177152126124715130243.833.011.40
Material Cost181300
Change in Inventories-2.253.2500
Purchases of Stock-in-Trade0000
Employee Cost2.971.800.300.26
Other Expenses126.222.711.14
Operating Profit-5.444.043.68-6.982.65-5.53-5.090.890.23-0.41-0.877.570.85
OPM %-3.542.532.04-4.822.06-4.66-7.681.710.76-1.73-297238
Other Income000-166.0900.050001754-5.39
Exceptional items (within Other Income)0054-5.39
Interest0.981.051.061.040.871.111.111.141.121.051.081.040.44
Depreciation2.242.232.232.232.212.302.292.302.301.641.641.691.59
Profit before tax-8.660.760.39-265.66-8.94-8.44-2.55-3.19-3.101359-6.57
Tax %-241813-1039-25-24-25-26-256.903924
Net Profit-6.370.700.35-244.41-6.69-6.38-2.16-4.49-5.761438-8.41
EPS in Rs-3.220.350.18-122.23-3.38-3.22-1.09-2.27-2.916.9419-4.25
Diluted EPS in Rs-2.27-2.9119-4.25

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales26126029948057048950288062659226737
Expenses30052530648756954548676362261027932
Material Cost14715
Change in Inventories473.65
Purchases of Stock-in-Trade00
Employee Cost152.61
Other Expenses6811
Operating Profit-39-265-7-71-56161174-17-135
OPM %-15-102-2.40-1.500.10-113.20130.70-3-4.7013
Other Income-36496821427934163121138
Exceptional items (within Other Income)0136
Interest70231400022344.483.61
Depreciation391814141313131198.909.196.56
Profit before tax-18418947121-62442109-5-19-25133
Tax %-27342270-23212023125-29-1-2219
Net Profit-14012136368-5-5682-3-19-20108
EPS in Rs-716118183.80-2.35-2841-1.62-9.42-9.9754
Diluted EPS in Rs-9.9654
Dividend Payout %000000000000

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
-18%
5 years
-41%
3 years
-61%
TTM
-86%

Compounded profit growth

10 years
1%
5 years
-14%
3 years
2%
TTM
-167%

Stock price CAGR

10 years
22%
5 years
18%
3 years
14%
1 year
15%

Return on equity

10 years
—
5 years
—
3 years
-109%
Last year
-101%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital202020202020202020202020
Reserves-735-400-295-193-186-38-741311-8.55-2793
Borrowings65341933826323820916811774807963
Other Liabilities80158756636844824119117219716612332
Total Liabilities738626628457520431305322301257195208
Fixed Assets175157143131119106938273675750
CWIP1399999999990
Investments0000000677549
Other Assets551460476317392316202225212174124108
Total Assets738626628457520431305322301257195208

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity497812414121576843-77-71
Cash from Investing Activity60-1-100004189
Cash from Financing Activity-53-80-124-13-121-56-70-443-6-20
Net Cash Flow2-1-1-1-01-1-0-02-2
Free Cash Flow497812313121576843-37.778.41

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days211493181810694211
Inventory Days16015824189114877574907057381
Days Payable11714016453105148138731039613325
Cash Conversion Cycle6432853927-43-537-4-22-75367
Working Capital Days-1,475-924-641-209-223-112-125-46-69-91-224-453
ROCE %-39-262-511885-2-5-260

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters545454545454545454545454
FIIs0.0100000000.030.0800
Public464646464646464646464646
No. of Shareholders9,8489,4949,4569,53810,98310,25910,41710,0969,9619,5309,3219,156

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year +15.9% (₹69.02 → ₹80.00)Brick size ₹4.86 (fixed)Bricks 20
₹60.00₹100₹80.00Nov '25Mar '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹80.00 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

1.00flag

2025-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-03-31

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-03-31

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

62.00inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Shah Alloys Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • chemicals and consumables
  • electricity / power and fuel
  • ferro chrome
  • other ferro-alloy/raw-material inputs
  • sponge iron
  • steel scrap
  • stores and spares

Depends on the price of

  • fuel
  • steel

Buys from

Sells to

  • S.A.L. Steel Limited · steel goods & services — FY25 related-party 'Sales of goods & Services SAL Steel Ltd 1100.…

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Iron & Steel Products
Classification
Capital Goods › Iron & Steel Products
ISIN
INE640C01011

Plants

  • Shah Alloys Santej Steel Plant

News impact

Big market events that reach Shah Alloys Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Splits, bonuses & buybacks

  • daily-prices repair: 11 rows from NSE's archive (replace 3, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Bulk & block deals

DateWhoBought / soldSharesPrice
9 Sep 2026KRONE INVESTMENTSSELL2,10,000₹99.00
31 Aug 2026L7 HITECH PRIVATE LIMITEDBUY1,00,000₹108.48
28 Aug 2026MANSI SHARE AND STOCK BROKING PRIVATE LIMITEDBUY3,00,000₹103.07
28 Aug 2026SETU SECURITIES PVT LTDBUY1,00,000₹103.06

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.