ESL Steel
No trades in 1Y
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
2- Company has low interest coverage ratio.
- Company has a low return on equity of -18.4% over last 3 years.
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.
Revenue
| 10Y | +11.15% |
|---|---|
| 5Y | Irregular period |
| 3Y | −2.15% |
| 1Y | −8.25% |
Net profit
| 10Y | Loss widened by ₹800 Cr |
|---|---|
| 5Y | Irregular period |
| 3Y | Loss widened by ₹610 Cr |
| 1Y | Loss widened by ₹902 Cr |
Operating cash flow
| 10Y | −10.42% |
|---|---|
| 5Y | Irregular period |
| 3Y | −36.85% |
| 1Y | −72.85% |
Operating margin· change in pp
| 10Y | +10.26 pp |
|---|---|
| 5Y | Irregular period |
| 3Y | −1.22 pp |
| 1Y | −3.09 pp |
Trailing twelve months: The latest quarterly results are more than a year old.
Revenue by year
| Mar 2015 | ₹1,831 Cr |
|---|---|
| Mar 2016 | ₹2,598 Cr |
| Mar 2017 | ₹2,562 Cr |
| Mar 2018 | ₹3,613 Cr |
| Mar 2019 | ₹4,952 Cr |
| Mar 2022 | ₹6,596 Cr |
| Mar 2023 | ₹7,978 Cr |
| Mar 2024 | ₹8,578 Cr |
| Mar 2025 | ₹8,147 Cr |
| Mar 2026 | ₹7,475 Cr |
Net profit by year
| Mar 2015 | −₹624 Cr |
|---|---|
| Mar 2016 | −₹368 Cr |
| Mar 2017 | −₹1,463 Cr |
| Mar 2018 | −₹6,139 Cr |
| Mar 2019 | ₹1,188 Cr |
| Mar 2022 | −₹95.00 Cr |
| Mar 2023 | −₹558 Cr |
| Mar 2024 | −₹968 Cr |
| Mar 2025 | −₹266 Cr |
| Mar 2026 | −₹1,168 Cr |
Quarterly Results
₹ CrResults for the period ended Dec 2018 were due by 14 Feb 2019 and are not in this table yet.
| Particulars | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 594 | 615 | 859 | 784 | 557 | 464 | 676 | 707 | 787 | 848 | 1,149 | 1,022 | 1,099 |
| Expenses | 614 | 667 | 972 | 716 | 656 | 513 | 632 | 746 | 726 | 780 | 1,002 | 1,717 | 1,033 |
| Operating Profit | −20 | −51 | −112 | 68 | −99 | −49 | 44 | −39 | 61 | 69 | 147 | −696 | 66 |
| OPM % | −3.4% | −8% | −13% | 9% | −18% | −11% | 7% | −5% | 8% | 8% | 13% | −68% | 6% |
| Other Income | 2 | 1 | 563 | 25 | 58 | 38 | 60 | 197 | 46 | 9 | −5,304 | 1,737 | 17 |
| Interest | 135 | 131 | 134 | 243 | 324 | 283 | 280 | 281 | 283 | 285 | −58 | 36 | 89 |
| Depreciation | 51 | 51 | 51 | 121 | 121 | 119 | 118 | 120 | 121 | 120 | 173 | 77 | 79 |
| PBT | −204 | −232 | 265 | −271 | −486 | −413 | −293 | −242 | −297 | −328 | −5,272 | 928 | −86 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | −204 | −232 | 265 | −271 | −486 | −413 | −293 | −242 | −297 | −328 | −5,272 | 928 | −86 |
| EPS (₹) | −0.84 | −0.96 | 1.1 | −1.12 | −2.02 | −1.72 | −1.22 | −1.01 | −1.23 | −1.36 | −21.88 | 4.73 | −0.44 |
Profit & Loss
₹ Cr| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 163 | 513 | 1,831 | 2,598 | 2,562 | 3,613 | 4,952 | 6,596 | 7,978 | 8,578 | 8,147 | 7,475 |
| Expenses | 248 | 566 | 1,818 | 2,805 | 2,519 | 3,378 | 5,203 | 6,031 | 7,698 | 8,344 | 7,709 | 7,304 |
| Operating Profit | −85 | −53 | 13 | −207 | 43 | 235 | −251 | 565 | 280 | 234 | 438 | 171 |
| OPM % | −52% | −10% | 0.7% | −8% | 1.7% | 7% | −5% | 9% | 3.5% | 2.7% | 5% | 2.3% |
| Other Income | −1 | 7 | 16 | 569 | 98 | −5,050 | 2,065 | 143 | 69 | 11 | 112 | −5 |
| Interest | 134 | 177 | 452 | 527 | 1,126 | 790 | 321 | 338 | 376 | 432 | 425 | 361 |
| Depreciation | 59 | 68 | 201 | 203 | 479 | 534 | 305 | 345 | 444 | 463 | 444 | 444 |
| PBT | −280 | −291 | −624 | −368 | −1,463 | −6,139 | 1,188 | 24 | −471 | −649 | −318 | −639 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 491% | 19% | 49% | −16% | 83% |
| Net Profit | −280 | −291 | −624 | −368 | −1,463 | −6,139 | 1,188 | −95 | −558 | −968 | −266 | −1,168 |
| EPS (₹) | −1.28 | −1.33 | −2.59 | −1.53 | −6.07 | −25.48 | 6.06 | −0.48 | −2.84 | −4.93 | −1.36 | −5.96 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
₹ Cr| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2,187 | 2,187 | 2,409 | 2,409 | 2,409 | 2,409 | 1,962 | 1,849 | 1,849 | 1,849 | 1,849 | 1,849 |
| Reserves | −396 | −687 | −1,316 | −1,514 | −2,977 | −9,117 | 1,684 | 4,279 | 3,718 | 2,750 | 2,482 | 1,311 |
| Borrowings | 7,150 | 8,389 | 10,211 | 10,269 | 10,288 | 9,907 | 3,554 | 4,008 | 3,874 | 2,535 | 2,505 | 3,888 |
| Other Liabilities | 1,320 | 1,512 | 2,057 | 2,268 | 3,299 | 4,789 | 1,252 | 1,059 | 1,841 | 3,708 | 4,092 | 3,947 |
| Total Liabilities | 10,261 | 11,401 | 13,361 | 13,432 | 13,020 | 7,988 | 8,452 | 11,194 | 11,282 | 10,841 | 10,928 | 10,995 |
| Fixed Assets | 1,448 | 3,733 | 4,649 | 10,374 | 9,912 | 5,162 | 5,142 | 5,110 | 4,954 | 4,859 | 4,625 | 4,740 |
| CWIP | 8,170 | 6,760 | 6,819 | 1,751 | 1,799 | 919 | 911 | 806 | 1,299 | 1,700 | 2,232 | 2,688 |
| Investments | 0 | 176 | 40 | 0 | 0 | 0 | 627 | 180 | 20 | 20 | 21 | 181 |
| Other Assets | 643 | 732 | 1,853 | 1,307 | 1,309 | 1,907 | 1,772 | 5,098 | 5,009 | 4,262 | 4,050 | 3,386 |
| Total Assets | 10,261 | 11,401 | 13,361 | 13,432 | 13,020 | 7,988 | 8,452 | 11,194 | 11,282 | 10,841 | 10,928 | 10,995 |
Cash Flow
₹ Cr| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 65 | −33 | −384 | 721 | 204 | 1,040 | 843 | 1,551 | 953 | 1,264 | 884 | 240 |
| Investing | −560 | −459 | −590 | −765 | −68 | −649 | −207 | −743 | −39 | −407 | −397 | −344 |
| Financing | 509 | 468 | 1,165 | −122 | −53 | −444 | −321 | −865 | −944 | −733 | −587 | 117 |
| Net Cash Flow | 13 | −23 | 191 | −165 | 84 | −54 | 315 | −57 | −29 | 124 | −101 | 14 |
| Free Cash Flow | −698 | −369 | −1,050 | −185 | 126 | 988 | 772 | 772 | 361 | 790 | 509 | −10 |
| CFO/OP | −77 | 60 | −2,971 | −348 | 472 | 443 | −337 | 275 | 343 | 539 | 203 | 171 |
Ratios
| Particulars | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 13 | 16 | 23 | 35 | 18 | 18 | 17 | 4 | 11 | 5 | 4 | 3 |
| Inventory Days | 456 | 322 | 224 | 151 | 175 | 143 | 108 | 103 | 113 | 89 | 89 | 77 |
| Days Payable | 417 | 131 | 68 | 75 | 93 | 181 | 107 | 26 | 53 | 119 | 137 | 142 |
| Cash Conversion Cycle | 52 | 207 | 180 | 111 | 100 | −20 | 18 | 81 | 71 | −25 | −44 | −63 |
| Working Capital Days | −1,032 | −676 | −124 | −157 | −314 | −364 | −6 | −41 | −63 | −124 | −173 | −211 |
| ROCE % | −2% | −1% | −2% | −1% | −3% | −2% | 11% | — | −1% | −2% | 1% | −3% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view ESL Steel insights
54 extracted metrics across FY09–FY26.
Documents
- 16 Jul 2026
- 18 Jun 2026
- 24 Dec 2025
- 24 Oct 2025
- 18 Jul 2025
- 22 Oct 2018
Frequently Asked Questions about ESL Steel
What does ESL Steel Ltd do?
Company Information
Electrosteel Steels Is engaged in the manufacturing and supply of wire rods, TMT Bars, Ductile Iron (DI) Pipes, Billets and also deals in Pig Iron and Iron and Steel Scrap products generated while manufacturing these products.
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