Zenith Steel Pipes & Industries
ZENITHSTL NSE
Zenith Steel Pipes & Industries
IndustrialsNSE: ZENITHSTL BSE: 531845 Industrial Products
Key Fundamentals
MicrocapIron & Steel ProductsIndustrial ProductsMarket Cap
₹84.66 Cr
Volatility
Moderate
P/E Ratio
20.89
EBITDA
₹-16.31 Cr
Return on Equity
-0.19%
Debt to Equity
0
Book Value
₹-17.5
52W High
₹10.33
52W Low
₹4.41
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Weaknesses
5- The company has delivered a poor sales growth of -7.27% over past five years.
- Promoter holding is low: 15.6%
- Contingent liabilities of Rs.37.0 Cr.
- Earnings include an other income of Rs.20.2 Cr.
- Company has high debtors of 391 days.
Growth Rate
Revenue Growth
-58.72% lower than
3Y
Net Income Growth
776% higher than
3Y
Cash Flow Change
31.86% higher than
3Y
ROE
-206% lower than
3Y
ROCE
20% higher than
3Y
EBITDA Margin (Avg.)
-647% higher than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 24.4 | 27.74 | 45.84 | 43.06 | 28.5 | 30.07 | 35.69 | 24.82 | 18.92 | 14.04 | 9.4 | 11.29 | 7.18 |
| Expenses | 25.48 | 34.27 | 45.23 | 36.33 | 31.15 | 30.64 | 35.68 | 26.86 | 23.37 | 19.47 | 13.02 | 13.88 | 7.3 |
| Operating Profit | -1.08 | -6.53 | 0.61 | 6.73 | -2.65 | -0.57 | 0.01 | -2.04 | -4.45 | -5.43 | -3.62 | -2.59 | -0.12 |
| OPM % | -4.43% | -23.54% | 1.33% | 15.63% | -9.3% | -1.9% | 0.03% | -8.22% | -23.52% | -38.68% | -38.51% | -22.94% | -1.67% |
| Other Income | 0.11 | 0.39 | 0.13 | 4.46 | 1.83 | 1.24 | 0.91 | 5.93 | 6.51 | 7.25 | 6.22 | 5.06 | 1.64 |
| Interest | 0.72 | 0.73 | 0.74 | 0.73 | 0.61 | 0.62 | 0.63 | 0.62 | 0.62 | 0.63 | 0.64 | 0.6 | 0.61 |
| Depreciation | 0.67 | 0.67 | 0.67 | 0.57 | 0.48 | 0.49 | 0.49 | 0.49 | 0.49 | 0.47 | 0.49 | 0.48 | 0.48 |
| PBT | -2.36 | -7.54 | -0.67 | 9.89 | -1.91 | -0.44 | -0.2 | 2.78 | 0.95 | 0.72 | 1.47 | 1.39 | 0.43 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -2.36 | -7.54 | -0.67 | 9.89 | -1.92 | -0.44 | -0.2 | 2.78 | 0.96 | 0.72 | 1.47 | 1.39 | 0.44 |
| EPS in Rs | -0.17 | -0.53 | -0.05 | 0.7 | -0.13 | -0.03 | -0.01 | 0.2 | 0.07 | 0.05 | 0.1 | 0.1 | 0.03 |
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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 84.02 | 91.49 | 157 | 170 | 184 | 101 | 77.87 | 163 | 165 | 143 | 119 | 53.38 | 41.91 |
| Expenses | 142 | 129 | 176 | 212 | 298 | 132 | 79.41 | 148 | 177 | 143 | 124 | 69.63 | 53.67 |
| Operating Profit | -57.8 | -37.17 | -19.09 | -42.21 | -114 | -30.73 | -1.54 | 15.08 | -12.25 | -0.25 | -5.25 | -16.25 | -11.76 |
| OPM % | -68.79% | -40.63% | -12.17% | -24.88% | -62.11% | -30.31% | -1.98% | 9.24% | -7.43% | -0.17% | -4.41% | -30.44% | -28.06% |
| Other Income | 2.5 | 22.53 | 0.8 | 16.16 | 7.19 | 12.56 | -5.72 | 7.86 | 3.8 | 5.06 | 9.91 | 25.03 | 20.17 |
| Interest | 9.39 | 10.43 | 8.67 | 7.69 | 7.29 | 4.53 | 3.47 | 6.99 | 3.48 | 2.92 | 2.48 | 2.48 | 2.48 |
| Depreciation | 6.29 | 6.11 | 6.24 | 7.33 | 6.01 | 5.65 | 2.84 | 2.67 | 2.45 | 2.58 | 1.95 | 1.92 | 1.92 |
| PBT | -70.98 | -31.18 | -33.2 | -41.07 | -120 | -28.35 | -13.57 | 13.28 | -14.38 | -0.69 | 0.23 | 4.38 | 4.01 |
| Tax % | 0.13% | 4.78% | 0% | 0% | 0% | 0% | 0% | 12.42% | 0% | 0% | 0% | 0% | — |
| Net Profit | -71.07 | -32.66 | -33.2 | -41.07 | -120 | -28.34 | -13.58 | 11.63 | -14.38 | -0.7 | 0.23 | 4.38 | 4.02 |
| EPS in Rs | -5.41 | -2.49 | -2.53 | -3.13 | -9.15 | -2.16 | -0.95 | 0.82 | -1.01 | -0.05 | 0.02 | 0.31 | 0.28 |
| 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 | 131 | 131 | 131 | 131 | 131 | 131 | 142 | 142 | 142 | 142 | 142 | 142 |
| Reserves | -153 | -186 | -219 | -260 | -373 | -383 | -396 | -384 | -398 | -399 | -399 | -391 |
| Borrowings | 277 | 291 | 300 | 296 | 283 | 247 | 228 | 227 | 219 | 215 | 215 | 220 |
| Other Liabilities | 111 | 123 | 141 | 179 | 195 | 184 | 162 | 207 | 206 | 224 | 200 | 183 |
| Total Liabilities | 366 | 360 | 353 | 346 | 236 | 180 | 136 | 192 | 169 | 182 | 159 | 154 |
| Fixed Assets | 97.15 | 97.14 | 91.98 | 80.33 | 74.55 | 65.87 | 48.03 | 44.38 | 44.64 | 43.61 | 41.8 | 40.03 |
| CWIP | 17.04 | 13.26 | 12.7 | 12.78 | 14.44 | 0 | 0 | 0 | 0.99 | 0.82 | 1.2 | 1.29 |
| Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 251 | 249 | 248 | 253 | 147 | 114 | 87.91 | 148 | 123 | 138 | 116 | 113 |
| Total Assets | 366 | 360 | 353 | 346 | 236 | 180 | 136 | 192 | 169 | 182 | 159 | 154 |
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 | -30.65 | -5.3 | 7.06 | 4.13 | 21.2 | 24.93 | 16.44 | -1.17 | 17.9 | 4.74 | 6.25 | -1.04 |
| Investing | 46.51 | 7.37 | -2.47 | 4.87 | -0.13 | 14.06 | -0.65 | 7.71 | -3.24 | -2.47 | -1.28 | -1.19 |
| Financing | -16.37 | 1.31 | -7.05 | -7.47 | -20.86 | -40.99 | -15.45 | -7.46 | -11.34 | -7.12 | -2.44 | 0.42 |
| Net Cash Flow | -0.51 | 3.38 | -2.46 | 1.54 | 0.21 | -1.99 | 0.34 | -0.92 | 3.32 | -4.84 | 2.53 | -1.81 |
| Free Cash Flow | -30.48 | -6.77 | 4.59 | 9 | 20.97 | 24.71 | 15.83 | 7.67 | 14.22 | 3.35 | 5.73 | -1.27 |
| CFO/OP | 53 | 14 | -37 | -10 | -19 | -81 | -1,068 | 24 | -135 | -2,456 | -119 | 6 |
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 | 449 | 435 | 293 | 250 | 71.68 | 31.75 | 56.86 | 112 | 104 | 151 | 173 | 391 |
| Inventory Days | 78.18 | 98.69 | 37.76 | 9.86 | 2.99 | 32.17 | 82.79 | 108 | 62.38 | 90.8 | 52.21 | 72.59 |
| Days Payable | 173 | 218 | 180 | 195 | 214 | 326 | 309 | 346 | 277 | 409 | 604 | 957 |
| Cash Conversion Cycle | 354 | 316 | 151 | 63.95 | -139 | -262 | -170 | -126 | -111 | -167 | -378 | -494 |
| Working Capital Days | -448 | -537 | -393 | -421 | -632 | -1,074 | -1,357 | -604 | -697 | -755 | -914 | -1,873 |
| ROCE % | -18.8% | -8.45% | -10.89% | -17.29% | -101.76% | -128.38% | — | — | — | — | — | — |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Zenith Steel Pipes & Industries insights
29 extracted metrics + investor summaries across FY15–FY26.
Documents
1
Unaudited Standalone And Consolidated Financial Result For The Quarter Ended June 30 2026 14 Aug 2026
2
Audited Standalone And Consolidated Financial Result For The Quarter And Financial Year Ended March 31 2026 26 May 2026
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
7 May - Company confirms it is not a Large Corporate and has no debt securities. 7 May - Company confirms it is not a Large Corporate and has no debt securities.
3
Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2
7 May - Company confirms it is not a large corporate and has no debt securities under SEBI circular. 7 May - Company confirms it is not a large corporate and has no debt securities under SEBI circular.
Frequently Asked Questions about Zenith Steel Pipes & Industries
What does Zenith Steel Pipes & Industries Ltd do?
Incorporated 1960, Zenith Steel Pipes & Industries Ltd does manufacturing and selling of ERW And SAW Pipes[1]
Where is Zenith Steel Pipes & Industries Ltd (ZENITHSTL) listed?
Zenith Steel Pipes & Industries Ltd trades as ZENITHSTL on the NSE and under code 531845 on the BSE.
Which sector does Zenith Steel Pipes & Industries Ltd belong to?
Zenith Steel Pipes & Industries Ltd is classified under the Industrials sector, in the Industrial Products industry.
What is the market capitalisation of Zenith Steel Pipes & Industries Ltd?
Zenith Steel Pipes & Industries Ltd has a market capitalisation of ₹84.66 Cr, which places it in the Small Cap band.
What is the PE ratio of Zenith Steel Pipes & Industries Ltd?
Zenith Steel Pipes & Industries Ltd trades at a PE ratio of 20.89, against a book value of ₹-17.5 per share.
What is the 52-week high and low of Zenith Steel Pipes & Industries Ltd?
Over the last 52 weeks Zenith Steel Pipes & Industries Ltd has traded between ₹4.41 and ₹10.33.
What is the Return on Equity (ROE) of Zenith Steel Pipes & Industries Ltd?
Zenith Steel Pipes & Industries Ltd reported a return on equity of -0.19%. Its debt-to-equity ratio is 0.00.
Company Information
Incorporated 1960, Zenith Steel Pipes & Industries Ltd does manufacturing and selling of ERW And SAW Pipes[1]
Website zenithsteelpipes.com
CEO Ms. Minal Umesh Pote
Employees 121
Listed 2007-04-30
Face Value ₹ 10
Issued Size 14,22,80,448
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