Modern Steels
Industrial Products
513303 BSE
₹12.39
Close ·
- P/E
- 11.58
Close 4 Nov 2026 ₹12.39 −4.69 −27.5% 1Y
Start ₹17.08
Key Fundamentals
MicrocapIndustrial ProductsCapital GoodsPrice-based figures at the close · EPS basis: Standalone · TTM
- ROCE
- 5.71%
- Debt to Equity
- 0.01
- EPS (TTM)
- ₹1.07
- Book Value
- ₹13.79
- Market Cap
- —
- P/E (TTM)
- 11.58
- P/B
- 0.90
- ROE
- 5.77%
- Dividend Yield
- 0.00%
- EBITDA
- −₹94.00 L
- 52W High
- ₹17.85
- 52W Low
- ₹10.35
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
56 Good
Data confidence 85/100
Category scores
- Quality
- 50
- Average
- Returns, margins, earnings quality 24% weight
- Valuation
- 61
- Good
- Cheap vs sector & own history 26% weight
- Financial Health
- 87
- Strong
- Solvency, leverage, coverage 10% weight
- Momentum
- 49
- Average
- Trend strength, vol-adjusted 13% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 26% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Company is almost debt free.
- Stock is trading at 0.78 times its book value
Weaknesses
4- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 12.9% over last 3 years.
- Earnings include an other income of Rs.2.44 Cr.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 11 | 5 | 3 |
| Oscillators | Bearish | 3 | 5 | 1 |
| Moving Averages | Strong Bearish | 8 | 0 | 2 |
Oscillators
Bearish
Bearish
3
Neutral
5
Bullish
1
Overall
Strong Bearish
Bearish
11
Neutral
5
Bullish
3
Moving Averages
Strong Bearish
Bearish
8
Neutral
0
Bullish
2
Key readings
- RSI (14)
- 45.77
- Neutral
- MACD (12,26,9)
- −0.64
- Bearish
- SMA (50)
- 13.63
- Bearish
- SMA (200)
- 13.37
- Bearish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.
Revenue
| 10Y | −100.00% |
|---|---|
| 5Y | −100.00% |
| 3Y | Zero base |
| 1Y | Zero base |
| TTM | Zero base |
Net profit
| 10Y | Turned to profit |
|---|---|
| 5Y | Turned to profit |
| 3Y | −57.52% |
| 1Y | −76.13% |
| TTM | −69.29% |
Operating cash flow
| 10Y | −37.54% |
|---|---|
| 5Y | −74.26% |
| 3Y | −23.87% |
| 1Y | −95.87% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | No sales |
|---|---|
| 5Y | No sales |
| 3Y | No sales |
| 1Y | No sales |
| TTM | No sales |
Revenue by year
| Mar 2017 | ₹309 Cr |
|---|---|
| Mar 2018 | ₹376 Cr |
| Mar 2019 | ₹322 Cr |
| Mar 2020 | ₹211 Cr |
| Mar 2021 | ₹83.53 Cr |
| Mar 2022 | ₹102 Cr |
| Mar 2023 | ₹0.00 Cr |
| Mar 2024 | ₹0.00 Cr |
| Mar 2025 | ₹0.00 Cr |
| Mar 2026 | ₹0.00 Cr |
Net profit by year
| Mar 2017 | −₹2.58 Cr |
|---|---|
| Mar 2018 | −₹30.24 Cr |
| Mar 2019 | −₹25.21 Cr |
| Mar 2020 | −₹50.78 Cr |
| Mar 2021 | −₹22.50 Cr |
| Mar 2022 | ₹76.13 Cr |
| Mar 2023 | ₹13.83 Cr |
| Mar 2024 | ₹0.58 Cr |
| Mar 2025 | ₹4.44 Cr |
| Mar 2026 | ₹1.06 Cr |
Quarterly Results
₹ Cr| Particulars | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.25 | 0.26 | 0.26 | 0.25 | 0.26 | 0.25 | 0.29 | 0.24 | 0.23 | 0.2 | 0.26 | 0.22 | 0.27 |
| Operating Profit | −0.25 | −0.26 | −0.26 | −0.25 | −0.26 | −0.25 | −0.29 | −0.24 | −0.23 | −0.2 | −0.26 | −0.22 | −0.27 |
| Other Income | 0.25 | 0.21 | 1.23 | 0.22 | 0.22 | 0.23 | 4.82 | 0.47 | 0.31 | 0.3 | 0.93 | 0.58 | 0.63 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0 |
| PBT | 0 | −0.05 | 0.97 | −0.03 | −0.04 | −0.02 | 4.53 | 0.23 | 0.08 | 0.1 | 0.66 | 0.36 | 0.36 |
| Tax % | — | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | 0 | −0.05 | 0.97 | −0.03 | −0.04 | −0.02 | 4.53 | 0.23 | 0.08 | 0.1 | 0.66 | 0.36 | 0.36 |
| EPS (₹) | 0 | −0.04 | 0.7 | −0.02 | −0.03 | −0.01 | 3.29 | 0.17 | 0.06 | 0.07 | 0.48 | 0.26 | 0.26 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 313 | 262 | 309 | 376 | 322 | 211 | 83.53 | 102 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 307 | 248 | 304 | 401 | 342 | 257 | 104 | 102 | 0.55 | 1.29 | 1.05 | 0.94 | 0.95 |
| Operating Profit | 5.57 | 13.28 | 5.09 | −24.7 | −20.12 | −45.91 | −20.88 | 0.2 | −0.55 | −1.29 | −1.05 | −0.94 | −0.95 |
| OPM % | 1.78% | 5.07% | 1.65% | −6.57% | −6.26% | −21.71% | −25% | 0.2% | — | — | — | — | — |
| Other Income | 6.89 | 2 | 2.55 | 1.66 | 1.85 | 0.38 | 3.71 | 80.38 | 14.62 | 1.87 | 5.49 | 2.01 | 2.44 |
| Interest | 25.03 | 27.13 | 4.86 | 1.79 | 1.77 | 0.39 | 0.46 | 0.86 | 0.24 | 0 | 0 | 0 | 0 |
| Depreciation | 5.83 | 5.39 | 5.36 | 5.41 | 5.17 | 4.86 | 4.87 | 3.59 | 0 | 0 | 0 | 0.01 | 0.01 |
| PBT | −18.4 | −17.24 | −2.58 | −30.24 | −25.21 | −50.78 | −22.5 | 76.13 | 13.83 | 0.58 | 4.44 | 1.06 | 1.48 |
| Tax % | −33.91% | 94.72% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
| Net Profit | −12.16 | −33.57 | −2.58 | −30.24 | −25.21 | −50.78 | −22.5 | 76.13 | 13.83 | 0.58 | 4.44 | 1.06 | 1.48 |
| EPS (₹) | −8.84 | −24.39 | −1.87 | −21.97 | −18.32 | −36.9 | −16.35 | 55.32 | 10.05 | 0.42 | 3.23 | 0.77 | 1.07 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.76 | 13.77 | 13.77 | 13.77 | 13.77 | 14.4 | 14.4 |
| Reserves | 9.97 | −23.6 | −24.18 | −56.72 | −82.01 | −131 | −92.27 | −14.77 | −0.94 | −0.37 | 4.07 | 4.49 | 5.21 |
| Borrowings | 174 | 185 | 188 | 189 | 187 | 185 | 52.86 | 7.04 | 1.27 | 0.2 | 0.2 | 0.21 | 0.21 |
| Other Liabilities | 62.97 | 46.07 | 57.96 | 43.12 | 51.75 | 45.65 | 121 | 0.33 | 0.18 | 0.31 | 0.76 | 0.77 | 0.56 |
| Total Liabilities | 260 | 222 | 235 | 189 | 170 | 113 | 95.06 | 6.37 | 14.28 | 13.91 | 18.8 | 19.87 | 20.38 |
| Fixed Assets | 77.66 | 72.9 | 68.5 | 62.52 | 59.13 | 54.57 | 49.99 | 0.06 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 |
| CWIP | 0 | 0 | 0 | 0.28 | 0.28 | 0.28 | 0.67 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 4.85 | 4.85 | 0.03 | 0.13 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Other Assets | 178 | 144 | 167 | 126 | 111 | 57.79 | 44.37 | 6.28 | 14.19 | 13.82 | 18.71 | 19.79 | 20.3 |
| Total Assets | 260 | 222 | 235 | 189 | 170 | 113 | 95.06 | 6.37 | 14.28 | 13.91 | 18.8 | 19.87 | 20.38 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 9.25 | 16.6 | −12.5 | −10.98 | 3.48 | 1.29 | 133 | −3.31 | 0.34 | 3.27 | 3.63 | 0.15 |
| Investing | −1.46 | 1.03 | 9.07 | 2.27 | −0.11 | 0.07 | −0.44 | 52.47 | 0 | −1.73 | −4.56 | −0.14 |
| Financing | −10.58 | −19.07 | 12.91 | −0.06 | −4.06 | −2.27 | −132 | −48.87 | −0.24 | −1.07 | 0 | 0 |
| Net Cash Flow | −2.79 | −1.44 | 9.48 | −8.77 | −0.69 | −0.91 | −0.08 | 0.29 | 0.1 | 0.46 | −0.93 | 0.01 |
| Free Cash Flow | −1.74 | 15.97 | −13.18 | −10.71 | 1.7 | 0.99 | 132 | 49 | 0.34 | 3.27 | 3.63 | 0.15 |
| CFO/EBITDA | 172 | 127 | −242 | 44 | −16 | −3 | −633 | −3,030 | −62 | −253 | −346 | −16 |
Ratios
| Particulars | 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 | 93.94 | 91.39 | 98.56 | 70.25 | 63.72 | 43.45 | 61.79 | 0 | — | — | — | — |
| Inventory Days | 114 | 160 | 123 | 67.75 | 76.63 | 57.97 | 244 | 0 | — | — | — | — |
| Days Payable | 91.65 | 82.25 | 96.55 | 37.13 | 65.59 | 88.16 | 454 | — | — | — | — | — |
| Cash Conversion Cycle | 116 | 169 | 125 | 101 | 74.77 | 13.26 | −148 | 0 | — | — | — | — |
| Working Capital Days | −4.27 | −40.01 | −13.31 | −109 | −151 | −303 | −579 | −5.4 | — | — | — | — |
| ROCE % | 1.61% | 5.34% | 1.08% | −17.59% | −17.7% | −54.28% | −106.55% | — | 189.97% | 4.19% | 28.07% | 5.71% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Modern Steels insights
60 extracted metrics across FY10–FY27.
Documents
- 26 Jun 2026
- 30 Apr 2025
- 29 Feb 2024
- 30 Dec 2022
- 29 Oct 2021
- General announcements 9 Oct 2026
- General announcements 7 Oct 2026
Frequently Asked Questions about Modern Steels
What does Modern Steels Ltd do?
Established in 1974, Modern Steel Ltd. manufactures low-alloy and carbon-steel-rolled products for commercial vehicles, such as trucks and tractors, passenger vehicles, two-wheelers, and engineering companies.
Where is Modern Steels Ltd (MDRNSTL) listed?
Modern Steels Ltd trades under code 513303 on the BSE.
Which sector does Modern Steels Ltd belong to?
Modern Steels Ltd is classified under the Industrial Products sector, in the Iron & Steel Products industry.
What is the PE ratio of Modern Steels Ltd?
Modern Steels Ltd trades at a PE ratio of 11.58 as of 4 Nov 2026, on earnings per share of ₹1.07, against a book value of ₹13.79 per share.
What is the 52-week high and low of Modern Steels Ltd?
Over the last 52 weeks Modern Steels Ltd has traded between ₹10.35 and ₹17.85 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Modern Steels Ltd?
Modern Steels Ltd reported a return on equity of 5.77%. Its debt-to-equity ratio is 0.01.
Company Information
Established in 1974, Modern Steel Ltd. manufactures low-alloy and carbon-steel-rolled products for commercial vehicles, such as trucks and tractors, passenger vehicles, two-wheelers, and engineering companies.
Website modernsteels.com
Face Value ₹10
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