MarketFriction

Steel Exchange India Ltd

NSE STEELXIND · BSE 534748 · Iron & Steel Products
₹11.22 -1.75%
NSE close2026-10-01
52 week range7.00 - 13.95
Market cap₹1,427 Cr.
P/E44.9
Price band 20% Delivery 51.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales269256312264261328291300232240287270
Expenses250233279239234288259269204218238235
Operating Profit192334252739333127225034
OPM %7%9%11%10%10%12%11%10%12%9%17%13%
Other Income1112001751101
Interest181919191818191919141814
Depreciation555666677776
Profit before tax-401033162410222615
Tax %-0%-0%-95%-0%-0%-0%80%-0%-0%-0%52%-0%
Net Profit-40203316510221215
EPS in Rs-0.030.000.160.020.020.130.040.090.020.020.100.12
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,6581,2719221,0247818981,0991,3751,0881,1401,0541,029
Expenses1,5061,1979331,0007107649931,2799891,016923895
Operating Profit15274-1124711341069798124131134
OPM %9%6%-1.2%2.3%9%15%10%7%9%11%12%13%
Other Income11-46-39-1-17720521973
Interest123157136103268810678756965
Depreciation273029302743242421242827
Profit before tax14-159-215-173914314-281464045
Tax %46%-1%-21%114%-64%2%-704%108%-757%43%33%
Net Profit7-157-170-3764140116-5911262732
EPS in Rs0.14-2.07-2.24-0.480.851.741.32-0.570.090.220.220.26
Dividend Payout %-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%-0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-4%3%-9%-13%
Compounded Profit Growth11%-23%33%-5%
Stock Price CAGR3%8%5%15%
Return on Equity-1%3%2%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital5276767676768088104120120125
Reserves323288222521580222403413542586643
Borrowings7136929821,0691,0211,014438458359382358418
Other Liabilities774811436337315217249168256224220190
Total Liabilities1,8631,8681,7161,5331,4281,3879891,1171,1321,2681,2841,375
Fixed Assets614591695717691666612596579570613590
CWIP46535454467133036
Investments-00000-0-0-0-0-0-0-0
Other Assets1,2021,223966811732717371514540668668779
Total Assets1,8631,8681,7161,5331,4281,3879891,1171,1321,2681,2841,375
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity91166-149506037795138-4897-38
Cash from Investing Activity-34-9-6-2-3-2139-14-49-158
Cash from Financing Activity-49-163151-49-58-10-116-1-12098-8125
Net Cash Flow8-5-4-0-125-2313411-5
Free Cash Flow56158-1554957349215124-9782-30
CFO/OP52%105%-200%-460%252%52%59%5%142%-49%78%-25%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days725962391418223130596277
Inventory Days1951902152682573441009888123126183
Days Payable16915336455965493345525849
Cash Conversion Cycle9996241262212297749573129129210
Working Capital Days15-4-56-172-159-19140351510382132
ROCE %18%13%4%-3%-0%5%11%10%8%8%10%9%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters55.92%55.92%55.41%49.57%52.91%52.91%52.91%52.91%50.80%50.80%50.80%49.67%
FIIs4.01%3.87%1.47%0.69%0.69%0.69%0.72%0.42%0.29%0.30%0.30%0.70%
DIIs0.66%0.66%1.26%1.26%1.26%1.26%1.26%1.58%2.58%2.58%2.58%1.95%
Government0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.26%0.25%0.25%0.25%0.24%
Public39.13%39.29%41.61%48.23%44.88%44.88%44.86%44.83%46.07%46.06%46.07%47.44%
No. of Shareholders98,4701,40,7832,70,1472,87,0553,00,1223,08,5373,15,1243,11,0583,11,9143,04,6442,98,3882,88,478

Fundamentals

Market Cap₹ 1,427 Cr.
Current Price₹ 11.2
Stock P/E44.9
Book Value₹ 6.16
ROCE9.34 %
ROE2.82 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)-13%
Compounded Profit Growth (TTM)-5%
Standalone figures.
Valuation
Market capRs 1,399 Cr
Enterprise valueRs 1,801 Cr
P/E (TTM)44.02x
Price to book1.82x
Price to sales1.36x
EV / EBITDA13.15x
EV / EBIT16.43x
EV / sales1.75x
Earnings yield2.27%
P/E, 3-year average73.41x
P/B, 3-year average1.65x
P/E, 5-year average55.51x
P/B, 5-year average1.62x
Profitability
Operating margin (excl. other income)12.44%
Operating margin (incl. other income)13.10%
EBITDA margin13.31%
Pre-tax margin4.38%
Net profit margin3.09%
Net margin, latest quarter5.57%
ROE3.66%
ROCE9.76%
ROA2.03%
ROE, 3-year average3.10%
ROCE, 3-year average9.80%
ROA, 3-year average1.66%
ROE, 5-year average5.40%
ROCE, 5-year average10.00%
ROA, 5-year average2.16%
ROIC (approx.)6.29%
Tax rate32.92%
Other income / net worth0.91%
Growth
Sales growth (latest year)-7.58%
Profit growth (latest year)4.09%
Sales CAGR, 3 years-8.50%
Sales CAGR, 5 years3.24%
Profit CAGR, 5 years-28.05%
Sales growth QoQ-6.13%
Profit growth QoQ21.50%
Sales growth YoY (latest quarter)-10.10%
Profit growth YoY (latest quarter)46.92%
Per share
EPS (TTM)Rs 0.25
EPS (latest year)Rs 0.22
EPS (latest quarter)Rs 0.12
EPS, 3-year averageRs 0.17
EPS, 5-year averageRs 2.64
Book value per shareRs 6.16
Sales per shareRs 8.25
Cash flow per shareRs -0.30
Free cash flow per shareRs -0.24
Efficiency
Asset turnover0.77x
Fixed asset turnover1.79x
Inventory turnover2.15x
Inventory days169 days
Debtor days77 days
Debtors turnover4.76x
Creditor days49 days
Cash conversion cycle210 days
Working capital days132 days
Leverage
Total debtRs 418 Cr
Cash and bankRs 16 Cr
Net debtRs 401 Cr
Debt to equity0.54x
Net debt / EBITDA2.93x
Interest coverage1.70x
Current ratio (filing 2026-03-31)2.26x
Quick ratio (filing 2026-03-31)1.01x
Trade payables (filing 2026-03-31)Rs 107 Cr
Owners' fund to total sources55.85%
Debt to assets30.37%
Cash flow
Cash from Operating Activity (latest year)Rs -38 Cr
Cash from Investing Activity (latest year)Rs 8 Cr
Cash from Financing Activity (latest year)Rs 25 Cr
Net Cash Flow (latest year)Rs -5 Cr
Free cash flow (latest year)Rs -30 Cr
FCFE (approx.: FCF + change in debt)Rs 30 Cr
Cash from ops / profit, 5 years1.27x
Statement figures
Net sales (TTM)Rs 1,029 Cr
Net sales (latest year)Rs 1,054 Cr
Sales (latest quarter)Rs 270 Cr
Operating profit excl. other income (latest year)Rs 131 Cr
Operating profit (latest quarter)Rs 34 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 137 Cr
PBDT (TTM)Rs 72 Cr
Profit before tax (TTM)Rs 45 Cr
Tax (latest year)Rs 13 Cr
Net profit (TTM)Rs 32 Cr
Net profit (latest year)Rs 27 Cr
Net profit (latest quarter)Rs 15 Cr
Depreciation (TTM)Rs 27 Cr
Depreciation (latest quarter)Rs 6 Cr
Interest (TTM)Rs 65 Cr
Cost of goods sold (latest year)Rs 853 Cr
Total expenditure (latest year)Rs 923 Cr
Total income (latest year)Rs 1,061 Cr
Share capitalRs 125 Cr
ReservesRs 643 Cr
Shareholders' fundsRs 768 Cr
Total assetsRs 1,375 Cr
Net blockRs 590 Cr
Capital work in progressRs 6 Cr
ReceivablesRs 221 Cr
InventoryRs 396 Cr
Other liabilitiesRs 190 Cr
Shares outstanding (crore)124.72
Ownership
Promoter holding49.67% (-3.24 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 44.0 is at the 72th percentile of its own 5.4-year range (median 19.6, low 5.0, high 167.8).
P/B 1.82 is at the 32th percentile (median 2.48).
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.
PeriodSTEELXINDNifty 50Difference
1 week-1.8%-2.8% +0.9 pts
1 month+6.2%-6.8% +13.0 pts
3 months-11.9%-7.6% -4.3 pts
6 months+57.8%+0.4% +57.4 pts
1 year+12.9%-9.9% +22.8 pts
2 years-12.3%-13.6% +1.3 pts
3 years+17.5%+14.2% +3.3 pts
5 years+51.8%+27.9% +23.9 pts

Red flags

F-score 2 of 8
explainWeak cash conversion Cash from operations was 17% of net profit over the last 3 years
lookInventory outrunning sales Inventory grew 29% vs sales -8% in 2026
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 2026
Sales ₹270 Cr -10.0% vs Jun 2025. Net profit ₹15 Cr +50.0%.
Against our estimate for Jun 2026: sales +4.8%, profit +177.5% beat. Our estimate for Sep 2026: sales Rs 219 Cr, profit Rs 6 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-20Annual General Meeting
2024-03-04Extra Ordinary General Meeting
2023-12-11Extra Ordinary General Meeting
2023-09-22Annual General Meeting
2023-05-12Extra Ordinary General Meeting
2022-07-12Face Value Split (Sub-Division) - From Rs 10/- Per Share To Re 1/- Per Share0.1000
2022-06-16Annual General Meeting
2021-11-02 Extra General Meeting
2021-09-16 Annual General Meeting
2021-01-07 Extra Ordinary General Meeting
2020-09-21 Annual General Meeting
2019-09-20 Annual General Meeting
2018-09-18 Annual General Meeting
2017-09-01 Annual General Meeting
DateTypeWhat it says
2026-09-30Concall / analyst meetOutcome of Schedule of Analyst/Institutional Investor meet
2026-09-24Concall / analyst meetSchedule of meet
2026-09-24Press ReleaseA press release dated September 24, 2026, titled "Infomerics Upgrades Steel Exchange India Limited s Long-Term Credit Rating by Two Notches to IVR BBB...
2026-09-23Concall / analyst meetOutcome of Schedule of Analyst/Institutional Investor meet
2026-09-23Credit RatingCredit Rating
2026-09-18Concall / analyst meetSchedule of meet
2026-09-16Monitoring Agency ReportMonitoring Agency Report for the quarter ended June 30, 2026
2026-09-09Press ReleaseA press release dated September 09, 2026, titled "Steel Exchange India Ltd Signs Strategic MoU with NMDC Limited for Long-Term Iron Ore Procurement, S...
2026-09-09UpdatesIntimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Execution of Memorandum of Understand...
2026-09-07UpdatesPayment of interest to holder of Secured Non-Convertible Debenture - Submission under Regulation 57(1) of Securities and Exchange Board of India (List...
2026-09-04Press ReleaseA press release dated September 04, 2026, titled "Steel Exchange India Limited Sets New Production Record with Highest-Ever Re-Bar Output in August 20...
2026-09-03UpdatesOperational Update-Highest Monthly Production of Re-Bars in the Rolling Mill of theCompany.
2026-08-24Shareholder meetingVoting results.
2026-08-22Shareholder meetingProceedings of Annual General Meeting held on August 22, 2026
2026-08-07UpdatesPayment of interest to holder of Secured Non-Convertible Debenture - Submission under Regulation57(1) of Securities and Exchange Board of India (Listi...
2026-08-05Reply to Clarification- FinaThe Exchange had sought clarification from STEEL EXCHANGE INDIA LIMITED for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (L...
2026-07-30UpdatesIntimation of Cut-off Date and Book Closure for the purpose of 27th Annual General Meeting (AGM) of the Company to be held on 22nd August, 2026.
2026-07-30Shareholder meetingNotice of Annual General Meeting to be held on August 22, 2026
2026-07-22Clarification - Financial ReThe Exchange has sought clarification from STEEL EXCHANGE INDIA LIMITED for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (L...
2026-07-21Press Release (Revised)A revised press release dated July 21, 2026, titled "Steel Exchange India Limited Announces Stellar Q1 FY27 Performance (Net Profit improves by 47% Yo...
2026-07-21Press ReleaseA press release dated July 21, 2026, titled "Steel Exchange India Limited Announces Stellar Q1 FY27 Performance (Net Profit improves by 47% YoY to Rs....
2026-07-20Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-07-20Board meeting outcomeOutcome of Board Meeting held on July 20, 2026.
2026-07-20Board meeting outcomeSTEEL EXCHANGE INDIA LIMITED has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-07UpdatesPayment of interest to holder of Secured Non-Convertible Debenture - Submission under Regulation57(1) of Securities and Exchange Board of India (Listi...
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.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Steel Exchange India Ltd?

Steel Exchange India Ltd (STEELXIND) has a market capitalisation of Rs 1,427 Cr. at the 2026-10-01 close.

What is the P/E ratio of Steel Exchange India Ltd?

Steel Exchange India Ltd trades at a P/E of 44.9 on trailing twelve-month profit, at the 2026-10-01 close.

What were Steel Exchange India Ltd's latest quarterly results?

In the Jun 2026 quarter, Steel Exchange India Ltd sales was Rs 270 Cr (-10.0% vs Jun 2025) and net profit was Rs 15 Cr.

What is the 52-week high and low of Steel Exchange India Ltd?

The 52-week high is Rs 13.95 and the 52-week low is Rs 7.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03