Shah Alloys Ltd
Incorporated in 1990, Shah Alloys Ltd manufactures and sells Steel and related products[1]
- Market Cap ₹ 135 Cr.
- Current Price ₹ 68.0
- 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: | 21% |
| 5 Years: | 50% |
| 3 Years: | 2% |
| 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
- Closure of Trading Window 12h
-
Disclosure Pursuant To Regulations 30 Read With Schedule III Of The SEBI (LODR) Regulations, 2015 ('SEBI LODR Regulations').
26 Dec - On Dec 26, 2025, transferred 1,07,56,989 (10,756,989) SAL Steel shares to Sree Metaliks per SPA.
-
Disclosure Under Regulation 29(2) Of The SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011 ('SEBI (SAST) Regulations') And Regulation 7(2)(A) Of The SEBI (Prohibition Of Insider Trading) Regulations, 2015 ('SEBI (PIT) Regulations')
26 Dec - Shah Alloys sold 1,07,56,989 shares (10.32%) to Sree Metaliks; SPA Sept 4, 2025; deal executed Dec 26, 2025.
-
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
Annual reports
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Financial Year 2025
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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
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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