Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 203.33 | 262.39 | 268.27 | 216.64 | 263.05 | 275.17 | 293.20 | 268.13 | 320.45 | 289.38 | 246.15 | 223.34 |
| Expenses | 191.18 | 245.16 | 254.81 | 205.23 | 262.47 | 270.20 | 281.14 | 266.56 | 315.54 | 283.14 | 241.87 | 217.25 |
| Operating Profit | 12.15 | 17.23 | 13.46 | 11.41 | 0.58 | 4.97 | 12.06 | 1.57 | 4.91 | 6.24 | 4.28 | 6.09 |
| OPM % | 5.98% | 6.57% | 5.02% | 5.27% | 0.22% | 1.81% | 4.11% | 0.59% | 1.53% | 2.16% | 1.74% | 2.73% |
| Other Income | 1.13 | 1.78 | 0.51 | 0.96 | 9.40 | 5.43 | 1.59 | 10.07 | 2.10 | 2.34 | 4.22 | 1.04 |
| Interest | 3.94 | 7.27 | 2.84 | 3.23 | 2.66 | 2.87 | 2.91 | 2.98 | 3.23 | 2.87 | 3.39 | 1.70 |
| Depreciation | 1.33 | 1.45 | 1.45 | 1.73 | 1.40 | 1.37 | 1.37 | 1.47 | 1.40 | 1.48 | 1.46 | 1.63 |
| Profit before tax | 8.01 | 10.29 | 9.68 | 7.41 | 5.92 | 6.16 | 9.37 | 7.19 | 2.38 | 4.23 | 3.65 | 3.80 |
| Tax % | 17.98% | 13.31% | 21.07% | 16.33% | 27.03% | 9.90% | 28.71% | 31.15% | 57.98% | 57.92% | -3.84% | -43.16% |
| Net Profit | 6.58 | 8.92 | 7.65 | 6.20 | 4.31 | 5.55 | 6.67 | 4.95 | 1.00 | 1.78 | 3.79 | 5.44 |
| EPS in Rs | 0.04 | 0.06 | 0.05 | 0.04 | 0.03 | 0.04 | 0.04 | 0.03 | 0.01 | 0.01 | 0.03 | 0.03 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 242 | 260 | 377 | 504 | 353 | 470 | 768 | 1,337 | 1,047 | 1,048 | 1,124 | 1,079 |
| Expenses | 227 | 240 | 354 | 488 | 344 | 452 | 726 | 1,285 | 987 | 1,019 | 1,107 | 1,058 |
| Operating Profit | 15 | 20 | 22 | 16 | 9 | 18 | 42 | 51 | 59 | 29 | 17 | 22 |
| OPM % | 6% | 8% | 6% | 3.3% | 2.5% | 3.9% | 5% | 3.9% | 6% | 2.8% | 1.5% | 2.0% |
| Other Income | 3 | 4 | 5 | 5 | 6 | 8 | 9 | 8 | 5 | 17 | 18 | 10 |
| Interest | 6 | 8 | 6 | 9 | 10 | 8 | 11 | 20 | 21 | 12 | 12 | 11 |
| Depreciation | 3 | 3 | 2 | 3 | 3 | 3 | 4 | 5 | 6 | 6 | 6 | 6 |
| Profit before tax | 9 | 13 | 18 | 9 | 2 | 15 | 36 | 35 | 38 | 29 | 17 | 14 |
| Tax % | 30% | 28% | 31% | 11% | 80% | 16% | 24% | 22% | 20% | 21% | 37% | |
| Net Profit | 6 | 9 | 13 | 8 | 0 | 12 | 27 | 27 | 30 | 23 | 11 | 12 |
| EPS in Rs | 0.05 | 0.08 | 0.10 | 0.07 | 0.00 | 0.10 | 0.22 | 0.19 | 0.19 | 0.15 | 0.08 | 0.08 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 3% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 17% | 19% | -6% | -2% | ||
| Compounded Profit Growth | 7% | -1% | -24% | -40% | ||
| Stock Price CAGR | 10% | 7% | -28% | -54% | ||
| Return on Equity | 9% | 8% | 5% | 3% |
| 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 | 1 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 47 | 154 | 155 | 164 |
| Reserves | 18 | 18 | 44 | 70 | 79 | 79 | 92 | 118 | 204 | 181 | 209 | 314 |
| Borrowings | 56 | 58 | 57 | 63 | 90 | 83 | 85 | 138 | 193 | 145 | 89 | 130 |
| Other Liabilities | 21 | 23 | 26 | 11 | 24 | 67 | 62 | 94 | 252 | 254 | 305 | 283 |
| Total Liabilities | 96 | 107 | 135 | 153 | 200 | 238 | 248 | 358 | 695 | 734 | 758 | 890 |
| Fixed Assets | 12 | 17 | 26 | 42 | 41 | 41 | 51 | 57 | 106 | 110 | 103 | 109 |
| CWIP | 6 | 1 | 1 | 0 | 1 | 7 | 4 | 6 | 1 | 1 | 10 | 4 |
| Investments | 13 | 12 | 2 | 2 | 5 | 7 | 8 | 8 | 13 | 6 | 5 | 11 |
| Other Assets | 65 | 77 | 106 | 109 | 154 | 183 | 184 | 288 | 574 | 617 | 640 | 767 |
| Total Assets | 96 | 107 | 135 | 153 | 200 | 238 | 248 | 358 | 695 | 734 | 758 | 890 |
| 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 | 3 | 5 | -7 | 5 | -17 | 30 | 25 | -35 | -96 | 18 | 51 | -109 |
| Cash from Investing Activity | -7 | -2 | -1 | -9 | -3 | -7 | -10 | -9 | -53 | -1 | 3 | -9 |
| Cash from Financing Activity | 9 | -5 | 10 | 6 | 17 | -17 | -6 | 41 | 143 | -13 | -66 | 118 |
| Net Cash Flow | 5 | -1 | 1 | 2 | -3 | 6 | 9 | -3 | -6 | 5 | -12 | -0 |
| Free Cash Flow | -2 | 3 | -20 | -6 | -20 | 23 | 14 | -46 | -146 | 9 | 51 | -113 |
| CFO/OP | 65% | 41% | -19% | 41% | -75% | 351% | 139% | -75% | -172% | 53% | 196% | -611% |
| 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 | 21 | 36 | 46 | 37 | 47 | 75 | 41 | 50 | 64 | 76 | 85 | 98 |
| Inventory Days | 55 | 54 | 84 | 37 | 40 | 61 | 62 | 53 | 58 | 51 | 47 | 45 |
| Days Payable | 5 | 26 | 25 | 5 | 15 | 67 | 43 | 37 | 63 | 88 | 106 | 90 |
| Cash Conversion Cycle | 71 | 64 | 105 | 69 | 72 | 69 | 60 | 67 | 58 | 38 | 26 | 53 |
| Working Capital Days | -3 | 10 | 39 | 40 | 36 | 33 | 26 | 26 | 35 | 78 | 85 | 91 |
| ROCE % | 19% | 22% | 20% | 12% | 7% | 13% | 21% | 15% | 12% | 7% | 5% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 57.14% | 57.22% | 56.70% | 56.33% | 47.97% | 47.97% | 47.97% | 47.84% | 37.76% | 37.76% | 35.89% | 34.18% |
| FIIs | 0.33% | 0.33% | 0.08% | 0.05% | 0.17% | 0.07% | 0.44% | 0.46% | 5.45% | 5.73% | 5.71% | 2.70% |
| DIIs | 0.69% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 41.83% | 41.84% | 43.24% | 43.61% | 51.87% | 51.98% | 51.60% | 51.70% | 56.79% | 56.52% | 58.39% | 63.12% |
| No. of Shareholders | 71,733 | 74,086 | 1,64,880 | 2,79,751 | 8,51,948 | 8,50,598 | 8,42,661 | 8,97,389 | 8,58,278 | 8,17,808 | 8,08,104 | 8,08,539 |
Fundamentals
Market Cap₹ 731 Cr.
Current Price₹ 4.48
Stock P/E56.5
Book Value₹ 2.92
ROCE5.43 %
ROE2.75 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-2%
Compounded Profit Growth (TTM)-40%
Consolidated figures.
Valuation
Market capRs 731 Cr
Enterprise valueRs 856 Cr
P/E (TTM)56.47x
Price to book1.53x
Price to sales0.68x
EV / EBITDA27.41x
EV / EBIT33.89x
EV / sales0.79x
Earnings yield1.77%
P/E, 3-year average62.53x
P/B, 3-year average3.96x
P/E, 5-year average40.81x
P/B, 5-year average2.73x
Profitability
Operating margin (excl. other income)1.54%
Operating margin (incl. other income)3.18%
EBITDA margin2.89%
Pre-tax margin1.30%
Net profit margin1.20%
Net margin, latest quarter2.29%
ROE2.99%
ROCE5.64%
ROA1.53%
ROE, 3-year average6.48%
ROCE, 3-year average9.02%
ROA, 3-year average2.88%
ROE, 5-year average11.54%
ROCE, 5-year average12.69%
ROA, 5-year average4.55%
ROIC (approx.)2.63%
Tax rate37.27%
Other income / net worth3.86%
Growth
Sales growth (latest year)7.26%
Profit growth (latest year)-44.73%
Sales CAGR, 3 years-5.61%
Sales CAGR, 5 years19.03%
Profit CAGR, 3 years-22.16%
Profit CAGR, 5 years0.32%
Sales growth QoQ-9.27%
Profit growth QoQ19.39%
Sales growth YoY (latest quarter)-16.70%
Profit growth YoY (latest quarter)-3.95%
Per share
EPS (TTM)Rs 0.08
EPS (latest year)Rs 0.08
EPS (latest quarter)Rs 0.03
EPS, 3-year averageRs 0.14
EPS, 5-year averageRs 3.45
Book value per shareRs 2.92
Sales per shareRs 6.60
Cash flow per shareRs -0.66
Free cash flow per shareRs -0.69
Dividend per share, 5-year averageRs 0.50
Dividends
Dividend payout, 5-year average3.07%
Efficiency
Asset turnover1.26x
Fixed asset turnover10.35x
Inventory turnover8.25x
Inventory days44 days
Debtor days98 days
Debtors turnover3.72x
Creditor days90 days
Cash conversion cycle53 days
Working capital days91 days
Leverage
Total debtRs 130 Cr
Cash and bankRs 5 Cr
Net debtRs 124 Cr
Debt to equity0.27x
Net debt / EBITDA3.98x
Interest coverage2.26x
Current ratio (filing 2026-03-31)1.80x
Quick ratio (filing 2026-03-31)1.43x
Trade payables (filing 2026-03-31)Rs 263 Cr
Owners' fund to total sources53.62%
Debt to assets14.57%
Cash flow
Cash from Operating Activity (latest year)Rs -109 Cr
Cash from Investing Activity (latest year)Rs -9 Cr
Cash from Financing Activity (latest year)Rs 118 Cr
Net Cash Flow (latest year)Rs -0 Cr
Free cash flow (latest year)Rs -113 Cr
FCFE (approx.: FCF + change in debt)Rs -72 Cr
Cash from ops / profit, 5 years-1.45x
Statement figures
Net sales (TTM)Rs 1,079 Cr
Net sales (latest year)Rs 1,124 Cr
Sales (latest quarter)Rs 223 Cr
Operating profit excl. other income (latest year)Rs 17 Cr
Operating profit (latest quarter)Rs 6 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 31 Cr
PBDT (TTM)Rs 20 Cr
Profit before tax (TTM)Rs 14 Cr
Tax (latest year)Rs 6 Cr
Net profit (TTM)Rs 13 Cr
Net profit (latest year)Rs 13 Cr
Net profit (latest quarter)Rs 5 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 11 Cr
Cost of goods sold (latest year)Rs 1,082 Cr
Total expenditure (latest year)Rs 1,107 Cr
Total income (latest year)Rs 1,143 Cr
Share capitalRs 164 Cr
ReservesRs 314 Cr
Shareholders' fundsRs 477 Cr
Total assetsRs 890 Cr
Net blockRs 109 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 11 Cr
ReceivablesRs 302 Cr
InventoryRs 131 Cr
Other liabilitiesRs 283 Cr
Shares outstanding (crore)163.60
Ownership
Promoter holding34.18% (-13.66 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 56.5 is at the 46th percentile of its own 9.3-year range
(median 58.5, low 4.9, high 391.9).
P/B 1.53 is at the 18th percentile (median 4.92).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | RAMASTEEL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.2% | -2.8% | +0.6 pts |
| 1 month | +5.2% | -6.8% | +12.0 pts |
| 3 months | -6.3% | -7.6% | +1.3 pts |
| 6 months | +23.1% | +0.4% | +22.7 pts |
| 1 year | -55.8% | -9.9% | -45.9 pts |
| 2 years | -70.0% | -13.6% | -56.4 pts |
| 3 years | -62.2% | +14.2% | -76.4 pts |
| 5 years | +36.7% | +27.9% | +8.8 pts |
Red flags
F-score 1 of 8| explain | Weak cash conversion Cash from operations was -62% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 14% of total assets in 2026 |
| explain | Debt up, profit down Borrowings up 46% while net profit fell in 2026 |
| look | Profit leans on other income Other income was 106% of pre-tax profit in 2026 |
| look | On NSE surveillance On NSE surveillance: ESM |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹223 Cr -16.7% vs Jun 2025.
Net profit ₹5 Cr +9.9%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Welspun Corp Ltd | 74,969 | 32.5 | 22.9 % |
| APL Apollo Tubes Ltd | 60,768 | 49.4 | 31.8 % |
| Shyam Metalics & Energy Ltd | 29,979 | 26.7 | 13.0 % |
| Ratnamani Metals & Tubes Ltd | 19,859 | 45.3 | 17.9 % |
| Jindal Saw Ltd | 17,759 | 27.2 | 10.4 % |
| Usha Martin Ltd | 15,204 | 27.9 | 19.5 % |
| Godawari Power & Ispat Ltd | 14,902 | 18.2 | 20.5 % |
| Gallantt Ispat Ltd. | 13,007 | 29.8 | 18.2 % |
| Maharashtra Seamless Ltd | 9,672 | 13.1 | 14.3 % |
| Jayaswal Neco Industries Ltd | 8,997 | 15.7 | 20.7 % |
| Sunflag Iron & Steel Company Ltd | 8,368 | 39.4 | 4.07 % |
| Man Industries (India) Ltd | 7,198 | 35.2 | 16.2 % |
| Aeroflex Industries Ltd | 7,141 | 106 | 18.9 % |
| Technocraft Industries (India) Ltd | 6,635 | 19.5 | 16.3 % |
| Shivalik Bimetal Controls Ltd | 6,402 | 60.1 | 26.6 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2024-03-19 | Bonus 2:1 | 0.3333 |
| 2023-09-21 | Annual General Meeting | |
| 2023-01-06 | Bonus 4:1 | 0.2000 |
| 2022-09-22 | Annual General Meeting | |
| 2022-08-25 | Face Value Split (Sub-Division) - From Rs 5/- Per Share To Re 1/- Per Share | 0.2000 |
| 2022-02-24 | Interim Dividend - Rs 0.50 Per Share | |
| 2021-09-21 | Annual General Meeting | |
| 2020-11-11 | Annual General Meeting | |
| 2019-09-26 | Annual General Meeting | |
| 2018-09-25 | Annual General Meeting | |
| 2017-09-25 | Annual General Meeting | |
| 2016-09-26 | Annual General Meeting | |
| 2016-03-14 | Bonus 4:1/Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share | 0.1000 |
| 2015-09-24 | Annual General Meeting |
| Date | Type | What it says |
|---|---|---|
| 2026-10-01 | Shareholder meeting | Voting results. |
| 2026-09-30 | Shareholder meeting | Proceedings of Annual General Meeting held on September 30, 2026 |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
ESM: stage 2Scrip PE is greater than 50 (4 trailing quarters)