Kalyani Steels Ltd

₹ 969 0.06%

11 Sep 4:08 p.m.

About

Kalyani Steels Ltd, a Kalyani Group
specialty-steel company, manufactures
forging and engineering-quality carbon
/alloy-steel long products through the
blast-furnace route. Its integrated Ginigera, Karnataka plant supplies critical grades
for automotive, bearings, energy, oil
& gas, engineering, seamless tube,
defence and railway applications,
with group forging companies as
key customers.^[1]

Key Points

Product Profile:^[1]
KSL has 1 reportable segment viz. forge and engineering-quality carbon and alloy steels.
Its products include as-cast rounds, billets
and blooms and rolled round/RCS bars,
including heat-treated and peeled products
used in forged components, seamless pipes,
bearings, turbines and aluminium-smelter
collector bars.^[2]

Website BSE NSE

Market Cap ₹ 4,235 Cr.
Current Price ₹ 969
High / Low ₹ 993 / 574
Stock P/E 15.8
Book Value ₹ 481
Dividend Yield 1.03 %
ROCE 14.7 %
ROE 13.0 %
Face Value ₹ 5.00

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Pros

Company has been maintaining a healthy dividend payout of 17.4%

Cons

The company has delivered a poor sales growth of 9.21% over past five years.
Company might be capitalizing the interest cost

* 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 BSE Industrials BSE 1000

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	497	480	480	503	461	492	484	544	443	456	462	484	465
	404	387	384	413	382	396	401	430	357	371	371	385	373
Operating Profit	92	93	96	90	79	96	83	114	85	85	92	99	91
OPM %	19%	19%	20%	18%	17%	20%	17%	21%	19%	19%	20%	20%	20%
	12	9	12	13	12	14	12	13	14	14	7	13	15
Interest	7	9	5	3	4	5	6	4	3	2	2	1	2
Depreciation	16	15	15	15	16	16	16	16	15	15	14	14	14
Profit before tax	82	78	88	84	72	90	75	107	82	83	83	97	91
Tax %	26%	26%	25%	26%	28%	25%	26%	26%	26%	25%	26%	27%	26%
	61	58	65	63	52	67	55	79	61	62	61	71	68
EPS in Rs	14.03	13.36	14.97	14.33	11.81	15.30	12.69	18.16	13.97	14.16	14.05	16.27	15.49
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,226	1,180	1,257	1,345	1,407	1,199	1,188	1,706	1,899	1,959	1,982	1,846	1,867
	1,059	945	970	1,142	1,194	1,004	925	1,367	1,654	1,588	1,609	1,484	1,500
Operating Profit	168	235	288	203	212	195	263	339	246	371	373	361	367
OPM %	14%	20%	23%	15%	15%	16%	22%	20%	13%	19%	19%	20%	20%
	2	3	13	17	25	23	43	46	56	47	52	49	49
Interest	15	12	10	9	7	8	7	13	28	25	19	9	8
Depreciation	31	52	52	37	38	43	44	46	49	61	63	57	56
Profit before tax	124	174	239	175	192	168	255	326	225	333	343	344	353
Tax %	33%	35%	35%	34%	31%	18%	25%	25%	26%	26%	26%	26%
	83	114	156	115	132	137	190	243	167	247	253	255	262
EPS in Rs	19.08	26.02	35.85	26.32	30.25	31.41	43.59	55.65	38.26	56.69	57.96	58.45	59.97
Dividend Payout %	0%	0%	14%	19%	17%	16%	17%	18%	26%	18%	17%	17%

Compounded Sales Growth
10 Years:	5%
5 Years:	9%
3 Years:	-1%
TTM:	-5%

Compounded Profit Growth
10 Years:	9%
5 Years:	7%
3 Years:	16%
TTM:	2%

Stock Price CAGR
10 Years:	11%
5 Years:	20%
3 Years:	27%
1 Year:	19%

Return on Equity
10 Years:	15%
5 Years:	14%
3 Years:	14%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	454	568	680	763	869	942	1,132	1,346	1,468	1,670	1,883	2,078
	219	327	239	169	18	0	168	438	506	596	438	475
	390	338	421	325	422	400	328	551	355	297	403	416
Total Liabilities	1,084	1,255	1,361	1,278	1,330	1,364	1,650	2,356	2,351	2,584	2,745	2,990
	442	488	436	437	422	418	382	358	599	734	678	627
CWIP	13	0	5	5	5	5	11	154	18	381	429	560
Investments	77	249	234	280	366	177	144	147	146	145	150	143
	552	517	686	557	537	763	1,113	1,696	1,587	1,324	1,487	1,660
Total Assets	1,084	1,255	1,361	1,278	1,330	1,364	1,650	2,356	2,351	2,584	2,745	2,990

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	114	161	152	191	286	257	62	263	-126	317	383	142
	-107	-255	-38	-77	-117	-183	-226	-470	153	-320	-136	-106
	-19	97	-98	-105	-181	-80	160	218	-39	12	-252	-42
Net Cash Flow	-12	2	16	10	-12	-6	-3	11	-12	9	-5	-6
Free Cash Flow	12	76	139	159	264	223	46	92	-237	-258	358	81
CFO/OP	85%	90%	84%	125%	163%	157%	48%	104%	-25%	107%	125%	63%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	98	107	135	102	80	72	77	89	78	78	79	98
Inventory Days	97	90	81	53	71	74	71	82	100	66	68	72
Days Payable	131	120	147	88	153	184	140	172	81	67	96	96
Cash Conversion Cycle	64	77	69	67	-1	-39	7	-1	97	77	51	74
Working Capital Days	69	31	27	24	25	11	-11	-18	29	-12	-15	-0
ROCE %	21%	23%	27%	19%	20%	19%	23%	22%	13%	17%	16%	15%

Insights

In beta

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Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Rolled Products Sales Volume
tonnes

xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
		xx	xx	xx	xx	xx	xx	xx	xx
xx	xx	xx	xx	xx
							x,xxx	xx,xxx	xx,xxx
								x,xxx	xx,xxx

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Total Sales Volume (Rolled Products + Blooms + Pig Iron + Coke)
tonnes

Group Company Sales as % of Net Sales
%

Automotive Segment as % of Revenue
%

Rolling Mill Capacity Utilization
%

PBILDT per Tonne
INR/tonne

Coke Oven Sales Volume (Foundry Coke & BF Coke)
tonnes

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%	64.70%
	2.73%	2.71%	2.54%	2.45%	2.11%	2.66%	2.18%	1.76%	1.86%	1.78%	1.82%	1.77%
	8.75%	9.37%	12.18%	12.03%	12.13%	10.83%	10.49%	10.54%	10.74%	11.10%	11.14%	11.48%
	23.81%	23.21%	20.59%	20.82%	21.06%	21.80%	22.63%	22.98%	22.70%	22.42%	22.33%	22.06%
No. of Shareholders	42,757	42,135	45,777	46,153	47,179	44,048	44,429	47,214	47,085	45,854	44,840	43,550

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	60.60%	64.71%	64.71%	64.71%	64.71%	64.71%	64.70%	64.70%	64.70%	64.70%	64.70%
	2.12%	2.52%	1.83%	2.18%	2.39%	0.00%	2.89%	2.54%	2.18%	1.82%	1.77%
	3.18%	2.41%	2.60%	3.57%	7.23%	9.13%	9.04%	12.18%	10.49%	11.14%	11.48%
	34.10%	30.36%	30.86%	29.54%	25.67%	26.15%	23.39%	20.59%	22.63%	22.33%	22.06%
No. of Shareholders	43,017	51,082	49,965	46,393	42,583	44,496	42,390	45,777	44,429	44,840	43,550

* 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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Kalyani Steels Ltd

Kalyani Steels Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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