Aditya Ultra Steel Ltd
Incorporated in 2011, Aditya Ultra Steel Ltd is in the business of TMT bars, Iron, and other Steel products[1]
- Market Cap ₹ 54.4 Cr.
- Current Price ₹ 21.9
- High / Low ₹ 37.0 / 17.4
- Stock P/E 13.5
- Book Value ₹ 41.6
- Dividend Yield 0.00 %
- ROCE 7.36 %
- ROE 3.96 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.53 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 3.18% over past five years.
- Company has a low return on equity of 9.42% over last 3 years.
- Earnings include an other income of Rs.4.33 Cr.
- Debtor days have increased from 27.5 to 46.4 days.
* 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
Part of Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 331 | 347 | 515 | 530 | 588 | 585 | 406 | |
| 324 | 336 | 504 | 520 | 570 | 565 | 395 | |
| Operating Profit | 6 | 11 | 11 | 10 | 18 | 20 | 11 |
| OPM % | 1.9% | 3.2% | 2.1% | 1.9% | 3.0% | 3.4% | 2.7% |
| 1 | 0 | 1 | 0 | 1 | 0 | 4 | |
| Interest | 3 | 3 | 3 | 5 | 6 | 8 | 8 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 3 | 7 | 7 | 4 | 11 | 11 | 5 |
| Tax % | 17% | 31% | 32% | 27% | 28% | 16% | 22% |
| 3 | 5 | 5 | 3 | 8 | 9 | 4 | |
| EPS in Rs | 1.47 | 2.68 | 2.86 | 1.63 | 4.46 | 3.76 | 1.62 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 3% |
| 3 Years: | -9% |
| TTM: | -31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -3% |
| 3 Years: | 13% |
| TTM: | -57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -32% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 9% |
| Last Year: | 4% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 17 | 25 | 25 |
| Reserves | 14 | 19 | 25 | 27 | 30 | 75 | 78 |
| 43 | 36 | 47 | 50 | 54 | 76 | 79 | |
| 8 | 10 | 8 | 8 | 46 | 21 | 10 | |
| Total Liabilities | 78 | 77 | 92 | 97 | 148 | 197 | 193 |
| 32 | 32 | 31 | 31 | 33 | 32 | 47 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 2 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 45 | 45 | 60 | 66 | 115 | 163 | 146 | |
| Total Assets | 78 | 77 | 92 | 97 | 148 | 197 | 193 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -2 | 22 | -6 | 8 | 5 | -44 | 4 | |
| -3 | -1 | -0 | -1 | -2 | -9 | -5 | |
| 5 | -12 | -3 | -7 | 0 | 57 | -5 | |
| Net Cash Flow | -0 | 10 | -10 | -0 | 3 | 4 | -6 |
| Free Cash Flow | -6 | 21 | -7 | 7 | 3 | -47 | -11 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -19% | 201% | -41% | 95% | 45% | -206% | 42% |
Ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 5 | 4 | 5 | 7 | 29 | 7 | 46 |
| Inventory Days | 47 | 35 | 33 | 40 | 39 | 53 | 86 |
| Days Payable | 6 | 5 | 2 | 2 | 19 | 10 | 5 |
| Cash Conversion Cycle | 46 | 34 | 36 | 46 | 50 | 49 | 127 |
| Working Capital Days | 14 | -1 | 11 | 11 | 13 | 34 | 54 |
| ROCE % | 14% | 13% | 10% | 17% | 13% | 7% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Actual Production (own plant) metric tonne |
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| Installed Production Capacity metric tonne |
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| TMT Bar Sales Volume metric tonne |
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| Number of TMT Bar Grades count |
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| Number of TMT Bar Sizes (SKUs) count |
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| Permanent Employees count |
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| Solar Power Plant Capacity (Planned) KWP |
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Extracted by Screener AI
Documents
Announcements
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended 30 September 2026; no demat requests received.
-
Shareholders meeting
- AGM resolutions passed unanimously on 30 Sep 2026; voting results and scrutinizer report filed.
-
Shareholders meeting
- Aditya Ultra Steel held its 15th AGM on 30 September 2026; members approved audited FY2026 accounts and reappointment.
-
Trading Window
- Trading window closed from 1 Oct 2026 until 48 hours after Q2 and half-year results board meeting.
-
Action(s) initiated or orders passed
- RoC Ahmedabad ordered Rs 3 lakh penalty for board report non-disclosures; company will appeal.
Business Overview:[1][2]
AUSL manufactures TMT Bars under the Kamdhenu brand and is the sole supplier of Kamdhenu TMT bars in Gujarat. Kamdhenu supports AUSL with a dealer network and marketing, helping expand its presence in Tier-3 cities. The company produces TMT bars from billets using a reheating furnace and rolling mill, catering to the construction and infrastructure sectors. It has sold over 4 lakh TMT bars to date.