---
title: "Chaman Metallics Ltd (CMNL) — Share Price, Financials & Analysis"
symbol: "CMNL"
company: "Chaman Metallics Ltd"
canonical: "https://tapetide.com/stocks/CMNL"
isin: "INE06PV01010"
nse_symbol: "CMNL"
sector: "Metals & Mining"
industry: "Sponge Iron"
market_cap_cr: 272.72
generated_at: "2026-09-13T19:50:56.136Z"
---

# Chaman Metallics Ltd (CMNL)

Canonical page: https://tapetide.com/stocks/CMNL

## Company

- **NSE Symbol:** CMNL
- **ISIN:** INE06PV01010
- **Sector:** Metals & Mining
- **Industry:** Sponge Iron
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2023-01-16
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** cmlgrgroup.com

## About

Incorporated in 2003, Chaman Metallics Ltd 
does manufacture and sale of Iron and Steel[1]

## Latest Price

- **Price:** ₹113.7
- **Change:** -1.55 (-1.34%)
- **Open:** ₹113.05
- **Day High:** ₹116.45
- **Day Low:** ₹113
- **Previous Close:** ₹115.25
- **Volume:** 19500
- **As Of:** 2026-09-11T10:01:41+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:08.247668Z.

- **Market Cap:** ₹272.72 Cr
- **Classification:** SME
- **P/E (reported):** -66.6
- **Book Value:** ₹39.46
- **Price to Book:** 2.92
- **Dividend Yield:** 0%
- **ROE:** 9.83%
- **ROCE:** 3.74%
- **Debt to Equity:** 4.63
- **Revenue (yearly):** ₹541.27 Cr
- **Net Income:** ₹-5.22 Cr
- **EBITDA:** ₹37.55 Cr
- **52-Week High:** ₹183.9
- **52-Week Low:** ₹90
- **RSI (14):** 54.48

## Tapetide Score

- **Score:** 51 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 52 (of 4473 scored stocks)
- **Confidence:** 84%
- **Data coverage:** 67%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 9.27 | 9% |
| growth | 98.9 | 9% |
| momentum | 73.74 | 12% |
| ownership | 50 | 24% |
| quality | 68.85 | 22% |
| valuation | 23.49 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 2.88 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 7.50% over last 3 years.
- Contingent liabilities of Rs.92.0 Cr.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -357.63% | -516.88% | -741.83% |
| ebitda margin growth | -29.82% | -35.39% | -18.97% |
| net income growth | -153.27% | -141.76% | -163.66% |
| revenue growth | 210.72% | 33% | 31% |
| roce | -56.1% | -85.76% | 17.98% |
| roe | -29.63% | 15.35% | -45.99% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 111 | 111 | 116 | 92 | 97 | 91 | 81 | 197 | 345 |
| Expenses | 101 | 101 | 100 | 80 | 91 | 82 | 75 | 185 | 317 |
| Operating Profit | 10 | 10 | 16 | 12 | 6 | 10 | 6 | 12 | 28 |
| OPM % | 9 | 9 | 14 | 14 | 6 | 10 | 7 | 6 | 8 |
| Other Income | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 0 | -2 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 11 | 19 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 5 | 10 |
| Profit before tax | 9 | 9 | 14 | 12 | 4 | 8 | 5 | -3 | -2 |
| Tax % | 24 | 24 | 29 | 25 | 19 | 24 | 29 | -20 | -20 |
| Net Profit | 7 | 7 | 10 | 9 | 4 | 6 | 4 | -3 | -2 |
| EPS in Rs | 8.64 | 3.84 | 4.26 | 3.71 | 1.48 | 2.56 | 1.5 | -1.06 | -0.67 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 11 | 58 | 141 | 185 | 228 | 189 | 172 | 541 |
| Expenses | 0 | 10 | 58 | 130 | 170 | 202 | 171 | 157 | 501 |
| Operating Profit | 0 | 1 | 0 | 11 | 15 | 26 | 18 | 15 | 40 |
| OPM % | — | 8 | 0 | 8 | 8 | 11 | 10 | 9 | 7 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 2 | -1 |
| Interest | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 | 29 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 14 |
| Profit before tax | -2 | 0 | -2 | 7 | 12 | 23 | 16 | 13 | -5 |
| Tax % | -2 | -205 | -304 | 25 | 33 | 27 | 23 | 26 | -20 |
| Net Profit | -2 | 0 | 4 | 5 | 8 | 17 | 13 | 10 | -4 |
| EPS in Rs | -2.22 | 0.52 | 4.67 | 6.62 | 10.37 | 7.09 | 5.19 | 4.05 | -1.73 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 24 | 24 | 24 | 24 |
| Reserves | 13 | 13 | 16 | 21 | 30 | 53 | 66 | 75 | 71 |
| Borrowings | 15 | 6 | 20 | 14 | 25 | 22 | 130 | 358 | 440 |
| Other Liabilities | 8 | 4 | 11 | 16 | 11 | 18 | 23 | 43 | 109 |
| Total Liabilities | 44 | 31 | 54 | 59 | 74 | 116 | 242 | 501 | 644 |
| Fixed Assets | 24 | 23 | 26 | 26 | 27 | 29 | 29 | 27 | 441 |
| CWIP | 2 | 2 | 2 | 2 | 2 | 5 | 120 | 338 | 0 |
| Investments | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 2 |
| Other Assets | 18 | 6 | 25 | 31 | 44 | 83 | 93 | 136 | 201 |
| Total Assets | 44 | 31 | 54 | 59 | 74 | 116 | 242 | 501 | 644 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 10 | -6 | 8 | -6 | 12 | 20 | -52 | 46 |
| Cash from Investing Activity | 0 | 0 | -6 | -1 | -3 | -6 | -149 | -175 | -99 |
| Cash from Financing Activity | 0 | -10 | 13 | -8 | 9 | 16 | 106 | 227 | 53 |
| Net Cash Flow | 0 | 0 | 1 | -1 | 0 | 22 | -22 | 0 | 0 |
| Free Cash Flow | 0 | 10 | -11 | 7 | -8 | 7 | -132 | -227 | -52 |
| CFO/OP | 71 | 1117 | -64900 | 75 | -33 | 64 | 117 | -311 | 125 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | 44 | 17 | 12 | 24 | 17 | 4 | 2 | 6 |
| Inventory Days | 13667 | 148 | 120 | 50 | 44 | 32 | 34 | 102 | 81 |
| Days Payable | 2028 | 23 | 63 | 38 | 12 | 22 | 36 | 56 | 58 |
| Cash Conversion Cycle | — | 170 | 73 | 24 | 55 | 26 | 2 | 49 | 30 |
| Working Capital Days | — | 139 | 27 | 9 | 38 | 43 | 28 | 25 | -5 |
| ROCE % | — | -1 | -3 | 22 | 27 | 32 | 11 | 4 | 5 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 73.6% | 73.6% | 73.6% | 73.6% | 73.6% | 73.6% | 73.6% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 22.22% | 23.39% | 23.07% | 22.01% | 17.13% | 16.65% | 16.75% |
| Others | 0% | 4.18% | 3.01% | 3.33% | 4.39% | 9.27% | 9.75% | 9.65% |
| No. of Shareholders | 0 | 1187 | 1168 | 1457 | 1324 | 993 | 1169 | 1290 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 6 / 5 / 8

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 117.17 | Sell |
| EMA (10) | 115.98 | Sell |
| SMA (20) | 114.16 | Sell |
| EMA (20) | 113.98 | Sell |
| SMA (50) | 106.51 | Buy |
| EMA (50) | 110.09 | Buy |
| SMA (100) | 111.4 | Buy |
| EMA (100) | 110.38 | Buy |
| SMA (200) | 113.89 | Sell |
| EMA (200) | 115.9 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 51.9 | Neutral |
| MACD (12,26,9) | 2.96 | Sell |
| Stochastic (14,3,3) | 46.76 | Neutral |
| ADX (14) | 34.21 | Buy |
| Williams %R (14) | -63.33 | Neutral |
| ATR (14) | 4.92 | High Volatility |
| ROC (12) | -0.52 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 49.6 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Trading window closed from 1 October 2026 until 48 hours after half-year results. | [Trading Window 9 Sep - Trading window closed from 1 October 2026 until 48 hours after half-year results.](https://nsearchives.nseindia.com/corporate/CHAMAN_09092026192429_NSE_Intimation_of_Trading_Window_Closure_to_NSE.pdf) |
| 7 Sep - Notice of remote e-voting published for AGM on 30 September 2026. | [Copy of Newspaper Publication 7 Sep - Notice of remote e-voting published for AGM on 30 September 2026.](https://nsearchives.nseindia.com/corporate/CHAMAN_07092026014648_NSEAnnouncementAdvtevotingAGM2026CML.pdf) |
| 5 Jun - Promoters disclosed no encumbrance during FY 2025-26 under Regulation 31(4). | [Disclosure under SEBI Takeover Regulations 5 Jun - Promoters disclosed no encumbrance during FY 2025-26 under Regulation 31(4).](https://nsearchives.nseindia.com/corporate/team_bbodade_21052026180752_CMNL.pdf) |
| 4 Sep - 23rd AGM on 30 Sep 2026; shareholders to vote on financials, auditor remuneration, and director reappointments. | [Shareholders meeting 4 Sep - 23rd AGM on 30 Sep 2026; shareholders to vote on financials, auditor remuneration, and director reappointments.](https://nsearchives.nseindia.com/corporate/CHAMAN_04092026230109_NSEAnnouncementnoticeofAGM2026CML.pdf) |
| 29 May - Chaman Metallics approved audited FY26 results on 29 May 2026; auditors gave unmodified opinion. | [Outcome of Board Meeting 29 May - Chaman Metallics approved audited FY26 results on 29 May 2026; auditors gave unmodified opinion.](https://nsearchives.nseindia.com/corporate/CHAMAN_29052026190808_NSEANNOUNCEMENTOUTCOMEOFBMFINANCIALRESULTS31032026.pdf) |
| 29 January 2026 - Reconciliation audit for quarter ended 31.12.2025; 893,000 warrants converted to equity; listing pending with NSE. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 29 January 2026 - Reconciliation audit for quarter ended 31.12.2025; 893,000 warrants converted to equity; listing pending with NSE.](https://nsearchives.nseindia.com/corporate/WOMANCART_29012026102100_Reconciliation.pdf) |
| 29 Aug - AGM notice published on 29 August 2026; 23rd AGM scheduled for 30 September 2026 via VC/OAVM. | [Copy of Newspaper Publication 29 Aug - AGM notice published on 29 August 2026; 23rd AGM scheduled for 30 September 2026 via VC/OAVM.](https://nsearchives.nseindia.com/corporate/CHAMAN_29082026172918_NSEAnnouncementAdvNoticeasperMCACircular29082026.pdf) |
| 28 January 2026 - SBI sanction limits raised from ₹335 crore to ₹365 crore; fund-based ₹180→₹220 crore; non-fund ₹35→₹25 crore. | [Updates 28 January 2026 - SBI sanction limits raised from ₹335 crore to ₹365 crore; fund-based ₹180→₹220 crore; non-fund ₹35→₹25 crore.](https://nsearchives.nseindia.com/corporate/CHAMAN_28012026185503_NSEAnnouncement.pdf) |
| 27 December 2025 - BIS licence granted for Silicomanganese (IS 1470:2013); covers Si16Mn63 sizes 2,3,6; Tadali factory. | [Updates 27 December 2025 - BIS licence granted for Silicomanganese (IS 1470:2013); covers Si16Mn63 sizes 2,3,6; Tadali factory.](https://nsearchives.nseindia.com/corporate/CHAMAN_27122025185750_NSEANNOUNCEMENTBISCERTIFICATIONCML27122025.pdf) |
| 27 Aug - Board approved FY26-27 report and recommended reappointments of MD, JMD/CFO, directors, and auditors. | [Outcome of Board Meeting 27 Aug - Board approved FY26-27 report and recommended reappointments of MD, JMD/CFO, directors, and auditors.](https://nsearchives.nseindia.com/corporate/CHAMAN_27082026203413_NSEOutcomeofBoardmeeting27082026.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31468_CMNL_2025_2026_A_38279875_04092026225135.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28834_CMNL_2024_2025_A_5855251_06092025201301.pdf) |
| from nse | [Financial Year 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28621_WOMANCART_2024_2025_A_1860807_05092025181017.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26134_CMNL_2023_2024_07092024143146.pdf) |
| from nse | [Financial Year 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26286_WOMANCART_2023_2024_0310202410651.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23422_CMNL_2022_2023_04092023185952_09042023190020.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Oct 2025 | [Concall - Oct 2025](https://nsearchives.nseindia.com/corporate/WOMANCART_30102025131757_presentation.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://nsearchives.nseindia.com/corporate/CMNL_09102024175545_NSEAnnouncementInvestorpresentation.pdf) |
| May 2025 | [Concall - May 2025](https://nsearchives.nseindia.com/corporate/WOMANCART_08052025113235_presentation.pdf) |
| May 2024 | [Concall - May 2024](https://nsearchives.nseindia.com/corporate/WOMANCART_09052024104432_investorpt.pdf) |
| Dec 2024 | [Concall - Dec 2024](https://nsearchives.nseindia.com/corporate/WOMANCART_17122024192009_presentation.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:50:56.136Z.