Shah Alloys
SHAHALLOYS NSE
Shah Alloys
IndustrialsNSE: SHAHALLOYS BSE: 513436 Industrial Products
Key Fundamentals
MicrocapIron & Steel ProductsIndustrial ProductsMarket Cap
₹191 Cr
Volatility
Moderate
P/E Ratio
4.82
EBITDA
₹7.10 Cr
Return on Equity
95.89%
Debt to Equity
0.56
Book Value
₹56.75
52W High
₹116.85
52W Low
₹53.1
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
5- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -40.6% over past five years.
- Company has a low return on equity of -109% over last 3 years.
- Contingent liabilities of Rs.132 Cr.
- Earnings include an other income of Rs.138 Cr.
Growth Rate
Revenue Growth
-85.26% lower than
3Y
Net Income Growth
-647% higher than
3Y
Cash Flow Change
—
ROE
-62.64% lower than
3Y
ROCE
-93.45% higher than
3Y
EBITDA Margin (Avg.)
-612%
Quarterly Results
| Particulars | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 154 | 160 | 181 | 145 | 128 | 119 | 66.31 | 52 | 30.37 | 23.64 | 2.96 | 10.58 | 2.25 |
| Expenses | 159 | 156 | 177 | 152 | 126 | 124 | 71.4 | 51.11 | 30.14 | 24.05 | 3.83 | 3.01 | 1.4 |
| Operating Profit | -5.44 | 4.04 | 3.68 | -6.98 | 2.65 | -5.53 | -5.09 | 0.89 | 0.23 | -0.41 | -0.87 | 7.57 | 0.85 |
| OPM % | -3.54% | 2.53% | 2.04% | -4.82% | 2.06% | -4.66% | -7.68% | 1.71% | 0.76% | -1.73% | -29.39% | 71.55% | 37.78% |
| Other Income | 0 | 0 | 0 | -15.6 | 6.09 | 0 | 0.05 | 0 | 0 | 0 | 16.92 | 54.36 | -5.39 |
| Interest | 0.98 | 1.05 | 1.06 | 1.04 | 0.87 | 1.11 | 1.11 | 1.14 | 1.12 | 1.05 | 1.08 | 1.04 | 0.44 |
| Depreciation | 2.24 | 2.23 | 2.23 | 2.23 | 2.21 | 2.3 | 2.29 | 2.3 | 2.3 | 1.64 | 1.64 | 1.69 | 1.59 |
| PBT | -8.66 | 0.76 | 0.39 | -25.85 | 5.66 | -8.94 | -8.44 | -2.55 | -3.19 | -3.1 | 13.33 | 59.2 | -6.57 |
| Tax % | -23.9% | 18.42% | 12.82% | -10.21% | 39.22% | -24.61% | -24.05% | -24.71% | -26.02% | -25.16% | 6.9% | 39.02% | 24.35% |
| Net Profit | -6.37 | 0.7 | 0.35 | -24.11 | 4.41 | -6.69 | -6.38 | -2.16 | -4.49 | -5.76 | 13.73 | 38.46 | -8.41 |
| EPS in Rs | -3.22 | 0.35 | 0.18 | -12.18 | 2.23 | -3.38 | -3.22 | -1.09 | -2.27 | -2.91 | 6.94 | 19.43 | -4.25 |
Profit & Loss
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 261 | 260 | 299 | 480 | 570 | 489 | 502 | 880 | 626 | 592 | 267 | 37 |
| Expenses | 300 | 525 | 306 | 487 | 569 | 545 | 486 | 763 | 622 | 610 | 279 | 32 |
| Operating Profit | -39 | -265 | -7 | -7 | 1 | -56 | 16 | 117 | 4 | -17 | -13 | 5 |
| OPM % | -15% | -102% | -2.4% | -1.5% | 0.1% | -11% | 3.2% | 13% | 0.7% | -3% | -4.7% | 13% |
| Other Income | -36 | 496 | 82 | 142 | 7 | 93 | 41 | 6 | 3 | 12 | 1 | 138 |
| Interest | 70 | 23 | 14 | 0 | 0 | 0 | 2 | 2 | 3 | 4 | 4 | 4 |
| Depreciation | 39 | 18 | 14 | 14 | 13 | 13 | 13 | 11 | 9 | 9 | 9 | 7 |
| PBT | -184 | 189 | 47 | 121 | -6 | 24 | 42 | 109 | -5 | -19 | -25 | 133 |
| Tax % | -27% | 34% | 22% | 70% | -232% | 120% | 231% | 25% | -29% | -1% | -22% | 19% |
| Net Profit | -140 | 121 | 36 | 36 | 8 | -5 | -56 | 82 | -3 | -19 | -20 | 108 |
| EPS in Rs | -70.95 | 61.09 | 18.43 | 17.99 | 3.8 | -2.35 | -28.19 | 41.47 | -1.62 | -9.42 | -9.97 | 54.42 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| Reserves | -735 | -400 | -295 | -193 | -186 | -38 | -74 | 13 | 11 | -9 | -27 | 93 |
| Borrowings | 653 | 419 | 338 | 263 | 238 | 209 | 168 | 117 | 74 | 80 | 79 | 63 |
| Other Liabilities | 801 | 587 | 566 | 368 | 448 | 241 | 191 | 172 | 197 | 166 | 123 | 32 |
| Total Liabilities | 738 | 626 | 628 | 457 | 520 | 431 | 305 | 322 | 301 | 257 | 195 | 208 |
| Fixed Assets | 175 | 157 | 143 | 131 | 119 | 106 | 93 | 82 | 73 | 67 | 57 | 50 |
| CWIP | 13 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 7 | 7 | 5 | 49 |
| Other Assets | 551 | 460 | 476 | 317 | 392 | 316 | 202 | 225 | 212 | 174 | 124 | 108 |
| Total Assets | 738 | 626 | 628 | 457 | 520 | 431 | 305 | 322 | 301 | 257 | 195 | 208 |
Cash Flow
| 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 | — | 49 | 78 | 124 | 14 | 121 | 57 | 68 | 43 | -7 | 7 | -71 |
| Investing | — | 6 | 0 | -1 | -1 | 0 | 0 | 0 | 0 | 4 | 1 | 89 |
| Financing | — | -53 | -80 | -124 | -13 | -121 | -56 | -70 | -44 | 3 | -6 | -20 |
| Net Cash Flow | — | 2 | -1 | -1 | -1 | 0 | 1 | -1 | 0 | 0 | 2 | -2 |
| Free Cash Flow | — | 49 | 78 | 123 | 13 | 121 | 57 | 68 | 43 | -3 | 8 | 8 |
| CFO/OP | — | -18 | -1,099 | -1,758 | 1,619 | -217 | 351 | 58 | 1,067 | 37 | -55 | -1,420 |
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 | 21 | 14 | 9 | 3 | 18 | 18 | 10 | 6 | 9 | 4 | 2 | 11 |
| Inventory Days | 160 | 158 | 241 | 89 | 114 | 87 | 75 | 74 | 90 | 70 | 57 | 381 |
| Days Payable | 117 | 140 | 164 | 53 | 105 | 148 | 138 | 73 | 103 | 96 | 133 | 25 |
| Cash Conversion Cycle | 64 | 32 | 85 | 39 | 27 | -43 | -53 | 7 | -4 | -22 | -75 | 367 |
| Working Capital Days | -1,475 | -924 | -641 | -209 | -223 | -112 | -125 | -46 | -69 | -91 | -224 | -453 |
| ROCE % | — | — | -39% | -26% | 2% | -51% | 18% | 85% | -2% | -5% | -26% | 0% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Shah Alloys insights
59 extracted metrics + investor summaries across FY11–FY26.
Documents
2
Clarification sought from Shah Alloys Ltd
31 Aug - Exchange has sought clarification from Shah Alloys Ltd on August 31, 2026 with reference to significant movement in price, in order to ensure that investors … 31 Aug - Exchange has sought clarification from Shah Alloys Ltd on August 31, 2026 with reference to significant movement in price, in order to ensure that investors …
3
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - Shah Alloys confirms it is not a large corporate; outstanding borrowing was NIL on 31 March 2025. 30 Apr - Shah Alloys confirms it is not a large corporate; outstanding borrowing was NIL on 31 March 2025.
4
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - Shah Alloys confirms it is not a large corporate; outstanding borrowing was NIL on 31 March 2025. 30 Apr - Shah Alloys confirms it is not a large corporate; outstanding borrowing was NIL on 31 March 2025.
5
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
10 Apr - Submission of Certificate received from Bigshare Services Pvt Ltd, RTA of the company under Regulation 74(5) of the SEBI (DP) Regulations, 2018 for the quarter … 10 Apr - Submission of Certificate received from Bigshare Services Pvt Ltd, RTA of the company under Regulation 74(5) of the SEBI (DP) Regulations, 2018 for the quarter …
4
36Th Annual General Meeting Is Scheduled To Be Held On Friday September 18 2026 At 12.30 PM 24 Aug 2026
Intimation
Frequently Asked Questions about Shah Alloys
What does Shah Alloys Ltd do?
Incorporated in 1990, Shah Alloys Ltd manufactures and sells Steel and related products[1]
Where is Shah Alloys Ltd (SHAHALLOYS) listed?
Shah Alloys Ltd trades as SHAHALLOYS on the NSE and under code 513436 on the BSE.
Which sector does Shah Alloys Ltd belong to?
Shah Alloys Ltd is classified under the Industrials sector, in the Industrial Products industry.
What is the market capitalisation of Shah Alloys Ltd?
Shah Alloys Ltd has a market capitalisation of ₹191.44 Cr, which places it in the Small Cap band.
What is the PE ratio of Shah Alloys Ltd?
Shah Alloys Ltd trades at a PE ratio of 4.82, against a book value of ₹56.75 per share.
What is the 52-week high and low of Shah Alloys Ltd?
Over the last 52 weeks Shah Alloys Ltd has traded between ₹53.1 and ₹116.85.
What is the Return on Equity (ROE) of Shah Alloys Ltd?
Shah Alloys Ltd reported a return on equity of 95.89%. Its debt-to-equity ratio is 0.56.
Company Information
Incorporated in 1990, Shah Alloys Ltd manufactures and sells Steel and related products[1]
Website shahalloys.com
CEO Mr. Ashok A. Sharma ACA, ACS
Employees 216
Listed 2005-06-16
Face Value ₹ 10
Issued Size 1,97,97,540
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