Panchmahal Steel Ltd

₹ 295 -1.70%

05 Jun - close price

About

Incorporated in 1972, Panchmahal Steel Ltd manufactures Stainless Steel Long Products viz. Bars, Rods and Wires^[1]

Key Points

Business Overview:^[1]
PSL is a producer of Stainless Steel long products in India. It focuses on fully integrated facilities from steel melting to cold finishing, and offers a range of Stainless Steel grades, in hot rolled wire rod & bars and cold finished bars & wires. It offers Stainless Steel in Austenitic, Martensitic, Ferritic, Duplex and low nickel - high manganese (200 series) grades

Website BSE

Market Cap ₹ 563 Cr.
Current Price ₹ 295
High / Low ₹ 384 / 144
Stock P/E
Book Value ₹ 79.0
Dividend Yield 1.02 %
ROCE 3.11 %
ROE -1.45 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Stock is trading at 3.74 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of 2.54% over past five years.
Company has a low return on equity of 0.86% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Iron & Steel Products

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	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
	129.89	107.37	119.18	102.57	98.50	98.13	99.05	94.72	91.21	87.54	92.63	98.11	105.96
	124.20	103.06	115.24	100.72	92.88	92.84	94.15	89.49	91.12	87.74	89.45	93.70	102.20
Operating Profit	5.69	4.31	3.94	1.85	5.62	5.29	4.90	5.23	0.09	-0.20	3.18	4.41	3.76
OPM %	4.38%	4.01%	3.31%	1.80%	5.71%	5.39%	4.95%	5.52%	0.10%	-0.23%	3.43%	4.49%	3.55%
	0.16	0.35	1.16	1.66	1.07	0.68	0.94	0.53	0.56	1.04	0.74	0.67	0.53
Interest	2.34	2.48	2.13	1.93	1.41	1.39	1.37	1.51	1.34	1.47	1.14	1.44	1.36
Depreciation	2.02	2.01	2.02	2.02	2.04	2.01	2.01	2.01	2.02	1.99	1.99	2.00	2.01
Profit before tax	1.49	0.17	0.95	-0.44	3.24	2.57	2.46	2.24	-2.71	-2.62	0.79	1.64	0.92
Tax %	28.19%	23.53%	25.26%	-27.27%	25.00%	25.29%	27.64%	25.89%	-24.72%	-26.72%	30.38%	25.61%	331.52%
	1.08	0.13	0.71	-0.32	2.44	1.91	1.78	1.66	-2.03	-1.92	0.55	1.23	-2.12
EPS in Rs	0.57	0.07	0.37	-0.17	1.28	1.00	0.93	0.87	-1.06	-1.01	0.29	0.64	-1.11
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	390	290	329	396	453	330	339	574	489	428	383	384
	380	292	311	379	430	327	316	498	473	412	368	373
Operating Profit	11	-2	18	16	23	4	23	76	16	16	16	11
OPM %	3%	-1%	5%	4%	5%	1%	7%	13%	3%	4%	4%	3%
	3	3	4	5	2	2	4	4	1	4	3	3
Interest	11	11	14	13	14	14	10	6	7	8	6	5
Depreciation	9	8	8	8	8	8	7	8	8	8	8	8
Profit before tax	-6	-19	0	0	4	-15	10	67	2	4	5	1
Tax %	-37%	-33%	-16%	-41%	33%	112%	0%	12%	28%	24%	27%	405%
	-4	-13	0	1	3	-32	10	59	1	3	3	-2
EPS in Rs	-1.85	-6.60	0.15	0.29	1.34	-16.88	5.14	30.71	0.72	1.56	1.75	-1.18
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	13%	0%	0%	172%	0%

Compounded Sales Growth
10 Years:	3%
5 Years:	3%
3 Years:	-8%
TTM:	0%

Compounded Profit Growth
10 Years:	6%
5 Years:	%
3 Years:	%
TTM:	-168%

Stock Price CAGR
10 Years:	30%
5 Years:	30%
3 Years:	33%
1 Year:	97%

Return on Equity
10 Years:	3%
5 Years:	8%
3 Years:	1%
Last Year:	-1%

Balance Sheet

Figures in Rs. Crores

	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	19	19	19	19	19	19	19	19	19	19	19	19
Reserves	115	102	102	102	104	73	83	141	135	138	141	132
	56	62	70	70	69	72	55	28	76	40	50	35
	111	86	120	110	89	89	121	111	65	38	32	38
Total Liabilities	301	269	311	301	282	253	277	299	295	234	242	224
	116	108	101	96	90	82	75	73	71	65	57	52
CWIP	0	0	0	0	0	0	0	0	1	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	185	160	209	205	192	170	202	226	224	169	184	172
Total Assets	301	269	311	301	282	253	277	299	295	234	242	224

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	3	6	14	14	7	29	38	-30	40	-5	29
	-4	1	1	-1	0	3	-0	-3	-6	5	1	-3
	-6	-6	-6	-14	-14	-10	-28	-32	34	-45	4	-26
Net Cash Flow	2	-1	1	-0	0	0	1	2	-3	0	0	-0
Free Cash Flow	7	3	5	11	13	7	31	35	-37	38	-5	25
CFO/OP	112%	-155%	27%	100%	62%	186%	127%	50%	-171%	236%	-9%	251%

Ratios

Figures in Rs. Crores

	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	28	31	48	34	22	28	36	26	33	35	44	45
Inventory Days	155	188	219	173	155	205	237	159	156	142	175	161
Days Payable	127	128	177	129	97	128	182	89	51	27	27	30
Cash Conversion Cycle	56	90	89	78	81	105	91	97	138	150	191	176
Working Capital Days	-3	-16	2	8	12	11	26	51	56	80	100	98
ROCE %	2%	-4%	7%	7%	9%	-2%	11%	41%	4%	6%	5%	3%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Export Sales as Percentage of Total Sales
%

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xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx		xxx,xxx	xxx,xxx	xxx,xxx

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Installed Capacity - Bars, Rods, Coils and Wires
MTPA

Capacity Utilization - Bars, Rods, Coils and Wires
%

Installed Capacity - Stainless Steel Melting Shop (Steel Billets)
MTPA

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.90%	74.90%	74.90%	74.90%	74.91%	74.87%	74.86%	74.38%	73.81%	73.81%	73.81%	73.81%
	3.93%	3.93%	3.93%	3.93%	3.93%	3.93%	3.93%	3.93%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.93%	3.93%	3.93%	3.93%
	21.16%	21.16%	21.16%	21.16%	21.17%	21.20%	21.21%	21.69%	22.26%	22.26%	22.26%	22.26%
No. of Shareholders	3,338	3,187	3,173	3,063	2,844	2,814	2,746	2,774	2,695	2,603	2,565	2,541

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	70.79%	72.62%	72.62%	72.62%	72.62%	74.90%	74.90%	74.90%	74.38%	73.81%
	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	5.72%	5.69%	5.67%	5.67%	5.67%	3.93%	3.93%	3.93%	3.93%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.93%
	23.49%	21.69%	21.71%	21.71%	21.71%	21.17%	21.17%	21.16%	21.69%	22.26%
No. of Shareholders	3,917	3,907	3,533	3,281	2,890	3,948	3,439	3,063	2,774	2,541

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Panchmahal Steel Ltd

Panchmahal Steel Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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