Shah Alloys Ltd
Incorporated in 1990, Shah Alloys Ltd manufactures and sells Steel and related products[1]
- Market Cap ₹ 146 Cr.
- Current Price ₹ 73.0
- High / Low ₹ 83.8 / 43.3
- Stock P/E
- Book Value ₹ 37.1
- Dividend Yield 0.00 %
- ROCE -21.4 %
- ROE -51.0 %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -11.4% over past five years.
- Company has a low return on equity of -4.72% over last 3 years.
- Contingent liabilities of Rs.104 Cr.
* 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 419 | 261 | 260 | 299 | 480 | 570 | 489 | 502 | 880 | 626 | 592 | 267 | 109 | |
| 486 | 340 | 278 | 300 | 480 | 569 | 555 | 486 | 763 | 622 | 610 | 287 | 140 | |
| Operating Profit | -67 | -80 | -18 | -1 | -1 | 1 | -66 | 16 | 117 | 4 | -17 | -20 | -31 |
| OPM % | -16% | -31% | -7% | -0% | -0% | 0% | -13% | 3% | 13% | 1% | -3% | -8% | -28% |
| 4 | 4 | 248 | 82 | 142 | -0 | 93 | 45 | 27 | 13 | 33 | 1 | 40 | |
| Interest | 93 | 70 | 23 | 14 | 0 | 0 | 0 | 2 | 2 | 3 | 4 | 4 | 4 |
| Depreciation | 30 | 39 | 18 | 14 | 14 | 13 | 13 | 13 | 11 | 9 | 9 | 9 | 8 |
| Profit before tax | -187 | -184 | 189 | 53 | 127 | -12 | 14 | 47 | 130 | 5 | 2 | -33 | -3 |
| Tax % | -31% | -27% | 34% | 19% | 67% | -106% | 204% | 211% | 21% | -25% | -10% | -17% | |
| -129 | -135 | 124 | 43 | 42 | 1 | -14 | -52 | 103 | 7 | 3 | -27 | -2 | |
| EPS in Rs | -64.95 | -68.28 | 62.83 | 21.76 | 21.26 | 0.38 | -7.32 | -26.09 | 51.96 | 3.38 | 1.30 | -13.79 | -0.86 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | -11% |
| 3 Years: | -33% |
| TTM: | -76% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 11% |
| 3 Years: | % |
| TTM: | -249% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 51% |
| 3 Years: | 10% |
| 1 Year: | 2% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -5% |
| Last Year: | -51% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 |
| Reserves | -593 | -729 | -391 | -280 | -171 | -171 | -33 | -65 | 38 | 45 | 47 | 20 | 54 |
| 738 | 653 | 419 | 338 | 263 | 238 | 209 | 184 | 117 | 74 | 80 | 79 | 79 | |
| 717 | 801 | 587 | 566 | 368 | 448 | 241 | 175 | 172 | 197 | 166 | 123 | 121 | |
| Total Liabilities | 882 | 744 | 635 | 644 | 479 | 535 | 437 | 314 | 346 | 335 | 313 | 243 | 274 |
| 216 | 175 | 157 | 143 | 131 | 119 | 106 | 93 | 82 | 73 | 67 | 57 | 54 | |
| CWIP | 18 | 13 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Investments | 40 | 5 | 9 | 15 | 22 | 15 | 5 | 9 | 30 | 41 | 63 | 53 | 76 |
| 608 | 551 | 460 | 476 | 317 | 392 | 316 | 202 | 225 | 212 | 174 | 124 | 135 | |
| Total Assets | 882 | 744 | 635 | 644 | 479 | 535 | 437 | 314 | 346 | 335 | 313 | 243 | 274 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 2 | 49 | 78 | 124 | 14 | 121 | 151 | 68 | 43 | -6 | -5 | |
| 0 | 74 | 6 | 0 | -1 | -1 | 0 | 0 | 0 | 0 | 4 | 1 | |
| -2 | -76 | -53 | -80 | -124 | -13 | -121 | -150 | -70 | -44 | 3 | 6 | |
| Net Cash Flow | -0 | 0 | 2 | -1 | -1 | -1 | -0 | 1 | -1 | -0 | 0 | 2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 27 | 21 | 14 | 9 | 3 | 18 | 18 | 10 | 6 | 9 | 4 | 2 |
| Inventory Days | 120 | 160 | 158 | 241 | 89 | 114 | 87 | 75 | 74 | 90 | 70 | 57 |
| Days Payable | 135 | 117 | 140 | 164 | 53 | 105 | 148 | 138 | 73 | 103 | 96 | 143 |
| Cash Conversion Cycle | 12 | 64 | 32 | 85 | 39 | 27 | -43 | -53 | 7 | -4 | -22 | -85 |
| Working Capital Days | -757 | -1,475 | -924 | -641 | -209 | -223 | -112 | -125 | -46 | -69 | -91 | -224 |
| ROCE % | -31% | -137% | -21% | -14% | -6% | -55% | 19% | 84% | 5% | 11% | -21% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Nov - Submission of News paper Advertisement in Compliance with Regulation 47 of the SEBI (LODR) Regulations, 2015
- Un-Audited Standalone & Consolidated Financial Results For The Quarter And Half Year Ended As On September 30, 2025 14 Nov
-
Board Meeting Outcome for Outcome Of Board Meeting Held On November 14, 2025.
14 Nov - Board approved Q2/H1 results; sold 16-inch rolling mill for Rs 17.00 crore; plant shut; auditors qualified; going-concern uncertainty.
-
Board Meeting Intimation for Intimation Under Regulation 29 Of SEBI (LODR) Regulations, 2015 Regarding Board Meeting To Be Held On 14.11.2025
11 Nov - Board meeting on 14.11.2025 to approve unaudited standalone/consolidated results for quarter/half ended 30-09-2025.
-
Board Meeting Intimation for Intimation Under Regulation 29 Of SEBI (LODR) Regulations, 2015 Regarding Board Meeting To Be Held On 14.11.2025
11 Nov - Board meeting 14 Nov 2025 to approve unaudited Q2/H1 results ended 30 Sep 2025.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from bse
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Financial Year 2011
from nse
Business Overview:[1]
SAL is an ISO 9001:2008 accredited company which manufactures a complete range of stainless steel in India. It sells in India and also exports to 50+ countries