Shah Metacorp Ltd

₹ 3.34 -0.30%

16 Sep - close price

About

Shah Metacorp Ltd, formerly Gyscoal Alloys Ltd, manufactures stainless-steel long products
at Mehsana, Gujarat. Its range includes ingots, angles, flats, round/bright bars and metal-processing job work. The consolidated
group also has agro and commodity-
trading businesses.^[1]

Key Points

Business Overview:
The company began with trading iron /steel scrap, billets and long products. It bought a rolling mill in 2005, added steel melting and entered stainless-steel grades in the 200-400 series. It became Shah Metacorp in 2023. Construction steel bars belong to its earlier history.^[1] ^[2]

Website BSE NSE

Market Cap ₹ 333 Cr.
Current Price ₹ 3.34
High / Low ₹ 5.85 / 2.56
Stock P/E 29.2
Book Value ₹ 3.05
Dividend Yield 0.00 %
ROCE 5.44 %
ROE 4.48 %
Face Value ₹ 1.00

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Pros

Company is almost debt free.
Stock is trading at 1.10 times its book value
Company is expected to give good quarter

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding is low: 32.1%
Company has a low return on equity of 6.31% over last 3 years.
Contingent liabilities of Rs.164 Cr.
Earnings include an other income of Rs.15.1 Cr.
Company has high debtors of 225 days.
Promoter holding has decreased over last 3 years: -7.44%

* 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

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
	16.24	21.33	12.91	41.39	44.88	48.54	35.89	41.46	28.90	39.81	45.81	53.62	54.13
	17.02	20.74	11.44	39.27	41.49	45.78	33.93	38.76	25.70	38.52	44.39	57.16	48.93
Operating Profit	-0.78	0.59	1.47	2.12	3.39	2.76	1.96	2.70	3.20	1.29	1.42	-3.54	5.20
OPM %	-4.80%	2.77%	11.39%	5.12%	7.55%	5.69%	5.46%	6.51%	11.07%	3.24%	3.10%	-6.60%	9.61%
	3.00	1.09	0.21	0.17	24.85	0.65	1.71	0.69	0.71	0.19	0.40	14.04	0.46
Interest	0.00	0.00	0.00	0.00	0.01	0.00	0.02	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.93	0.92	0.88	0.79	0.83	0.90	0.87	1.02	1.07	1.05	1.03	1.01	0.97
Profit before tax	1.29	0.76	0.80	1.50	27.40	2.51	2.78	2.37	2.84	0.43	0.79	9.49	4.69
Tax %	2.33%	0.00%	3.75%	5.33%	15.04%	0.80%	1.08%	-63.29%	10.92%	25.58%	27.85%	26.03%	25.16%
	1.25	0.76	0.77	1.42	23.27	2.48	2.74	3.86	2.53	0.32	0.57	7.02	3.51
EPS in Rs	0.03	0.02	0.02	0.03	0.50	0.04	0.04	0.06	0.03	0.00	0.01	0.07	0.04
Raw PDF

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
	182	164	173	95	148	65	13	20	40	92	171	168	193
	166	162	161	98	157	78	94	30	44	88	160	166	189
Operating Profit	16	2	12	-3	-9	-13	-82	-10	-4	4	11	2	4
OPM %	9%	1.5%	7%	-2.8%	-6%	-20%	-651%	-48%	-10%	3.8%	6%	1.4%	2.3%
	2	5	0	0	1	9	0	14	7	4	28	15	15
Interest	11	12	12	10	7	6	6	1	0	0	0	0	0
Depreciation	6	11	9	8	7	6	5	4	3	4	4	4	4
Profit before tax	1	-15	-9	-21	-22	-16	-92	0	-0	4	35	14	15
Tax %	81%	-13%	-35%	-14%	-6%	-13%	-19%	1,622%	-669%	3%	8%	23%
	0	-13	-6	-18	-20	-14	-74	-6	2	4	32	10	11
EPS in Rs	0.01	-0.36	-0.16	-0.48	-0.55	-0.37	-2.01	-0.15	0.04	0.09	0.49	0.11	0.12
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	0%
5 Years:	68%
3 Years:	62%
TTM:	25%

Compounded Profit Growth
10 Years:	11%
5 Years:	16%
3 Years:	85%
TTM:	-2%

Stock Price CAGR
10 Years:	-8%
5 Years:	12%
3 Years:	6%
1 Year:	-11%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	6%
Last Year:	4%

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	16	16	16	16	16	16	16	16	33	42	59	89
Reserves	77	64	60	42	22	8	-66	-47	-16	15	106	213
	81	91	97	77	74	76	93	79	67	37	17	15
	66	64	75	89	86	85	72	39	35	39	11	14
Total Liabilities	240	235	247	223	198	184	115	87	120	133	193	331
	57	53	46	40	34	29	24	21	25	21	28	26
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	6	6	6	6	0	0	0	0	0	0	0	90
	177	177	196	178	164	155	90	66	96	112	165	215
Total Assets	240	235	247	223	198	184	115	87	120	133	193	331

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
	-7	-3	4	20	4	4	-11	-21	-0	-32	-46	-31
	5	4	-2	-2	5	0	0	0	-7	-0	-10	-91
	-3	-1	-1	-19	-9	-4	11	21	35	4	56	124
Net Cash Flow	-6	-1	1	-0	-0	0	-0	0	28	-28	-0	2
Free Cash Flow	-28	-9	1	18	3	4	-11	-21	-7	-33	-56	-33
CFO/OP	-46%	-103%	36%	-797%	-47%	-31%	14%	223%	8%	-918%	-426%	-1,301%

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	197	242	282	430	272	620	1,167	360	232	219	270	225
Inventory Days	116	122	114	204	90	155	187	295	74	57	20	73
Days Payable	105	101	154	188	141	271	391	404	157	88	22	34
Cash Conversion Cycle	209	263	242	446	221	504	963	251	149	188	268	264
Working Capital Days	56	76	74	48	-2	-53	-2,096	10	22	188	284	345
ROCE %	7%	-2%	2%	-7%	-8%	-9%	-121%	-23%	0%	5%	7%	5%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Permanent Employees
count

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

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Total Production Volume
MT

Power Consumption per MT of Production
KWH/MT

S.S. Angle Production
MT

S.S. Flat Production
MT

S.S. Ingot Production
MT

S.S. Round Bars Production
MT

S.S. Bright Bar Production
MT

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

16 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	36.17%	36.20%	36.18%	29.81%	30.88%	30.88%	33.17%	29.15%	29.15%	29.15%	29.48%	32.08%
	0.00%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	1.09%	1.05%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.04%	0.04%	0.04%	1.02%	0.98%
	63.84%	63.80%	63.81%	70.13%	69.13%	69.13%	66.78%	70.81%	70.79%	70.81%	68.40%	65.90%
No. of Shareholders	54,368	66,903	82,357	1,08,503	1,12,713	1,19,847	1,23,404	1,19,898	1,15,455	1,11,672	1,09,781	1,09,781

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	61.45%	62.26%	64.53%	64.87%	64.94%	51.56%	39.52%	36.20%	30.88%	29.15%	32.08%
	0.71%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.05%
	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.98%
	37.81%	37.55%	35.47%	35.13%	35.06%	48.44%	60.47%	63.80%	69.13%	70.81%	65.90%
No. of Shareholders	5,114	6,140	5,598	5,881	6,865	35,476	37,766	66,903	1,19,847	1,11,672	1,09,781

* 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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Shah Metacorp Ltd

Shah Metacorp Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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