Newmalayalam Steel Ltd
Incorporated in 2017, Newmalayalam Steel Ltd manufactures galvanised pipes, tubes, and sheets[1]
- Market Cap ₹ 58.8 Cr.
- Current Price ₹ 34.0
- High / Low ₹ 90.0 / 23.4
- Stock P/E 13.3
- Book Value ₹ 45.3
- Dividend Yield 0.00 %
- ROCE 9.64 %
- ROE 7.42 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.78 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 11.2% over last 3 years.
- Earnings include an other income of Rs.4.20 Cr.
- Company's cost of borrowing seems high
* 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
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 300 | 318 | 354 | 300 | 304 | |
| 290 | 310 | 347 | 292 | 297 | |
| Operating Profit | 9 | 7 | 7 | 8 | 7 |
| OPM % | 3% | 2% | 2% | 3% | 2% |
| 5 | 6 | 5 | 3 | 4 | |
| Interest | 3 | 3 | 3 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 2 | 2 |
| Profit before tax | 10 | 9 | 8 | 6 | 6 |
| Tax % | 20% | 26% | 25% | 25% | 27% |
| 8 | 7 | 6 | 4 | 4 | |
| EPS in Rs | 603.95 | 532.02 | 474.31 | 3.38 | 2.55 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -1% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -13% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 11% |
| Last Year: | 7% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 17 |
| Reserves | 11 | 18 | 24 | 28 | 61 |
| 36 | 49 | 28 | 59 | 18 | |
| 5 | 11 | 23 | 17 | 12 | |
| Total Liabilities | 64 | 90 | 87 | 116 | 109 |
| 20 | 21 | 22 | 20 | 20 | |
| CWIP | 1 | 2 | 0 | 1 | 8 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 44 | 67 | 66 | 95 | 81 | |
| Total Assets | 64 | 90 | 87 | 116 | 109 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 12 | -4 | 31 | -21 | 26 | |
| -1 | -6 | -1 | -1 | -8 | |
| -11 | 10 | -24 | 28 | -11 | |
| Net Cash Flow | 0 | 0 | 7 | 6 | 7 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 16 | 21 | 11 | 26 | 31 |
| Inventory Days | 17 | 40 | 40 | 62 | 33 |
| Days Payable | 0 | 8 | 19 | 11 | 9 |
| Cash Conversion Cycle | 33 | 53 | 31 | 77 | 55 |
| Working Capital Days | 26 | 29 | 21 | 19 | 41 |
| ROCE % | 17% | 15% | 11% | 10% |
Documents
Announcements
-
Shareholders meeting
2 September 2025 - AGM Sep 26, 2025: approve accounts, auditor reappointment, and material RPTs up to Rs.150/300/100 crore.
-
Change in Auditors
30 August 2025 - Board recommends statutory auditor reappointment (FY2025-26 to FY2029-30); secretarial, internal, cost auditors reappointed effective Aug 30, 2025.
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Resignation
30 August 2025 - CFO Rahul Jain resigns; resignation dated Aug 30, 2025, effective Oct 29, 2025 after 60-day notice.
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Acquisition
30 August 2025 - Board approved incorporation of subsidiary Prime NMS Private Limited on 30 Aug 2025; cash subscription planned; business diversification.
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Outcome of Board Meeting
30 August 2025 - CFO Rahul Jain resigns effective Oct 29, 2025; new subsidiary Prime NMS; material RPTs and auditors reappointments.
Business Overview:[1]
NMSL manufactures galvanised pipes, tubes, and sheets under the brand name Demac Steel. The products are designed to provide solution to the continuous damage caused to houses in Kerala due to inclement weather condition