Steel Exchange India Ltd

₹ 8.24 -4.41%

25 Apr - close price

About

Incorporated in 1999, Steel Exchange India Ltd manufactures and sells steel and related products and power generation^[1]

Key Points

Business Divisions:
Steel Division (97%) ^[1]^[2]
a) Manufacturing:
Company manufactures TMT bars, billets, ingots, sponge iron, and scrap/pig iron. It
sells TMT Rebars under the Brand name - Simhadri TMT.
b) Trading:
The trading division deals with the products manufactured by the Company, RINL (Vizag Steel), and other manufacturers of the products. It has developed the marketing base for the company throughout the coastal region of Andhra Pradesh.

Website BSE NSE

Market Cap ₹ 1,010 Cr.
Current Price ₹ 8.24
High / Low ₹ 15.8 / 7.06
Stock P/E 24.7
Book Value ₹ 5.48
Dividend Yield 0.00 %
ROCE 8.16 %
ROE 1.85 %
Face Value ₹ 1.00

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Pros

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 1.18% over past five years.
Company has a low return on equity of 3.64% over last 3 years.
Promoters have pledged 100.0% of their holding.
Debtor days have increased from 39.7 to 58.7 days.
Company's cost of borrowing seems high
Working capital days have increased from 61.8 days to 103 days

* 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

Sector: Steel Industry: Steel - Medium / Small

Part of BSE Allcap BSE Industrials BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	263	367	365	315	304	398	251	269	256	312	264	261	328
	210	338	331	287	304	363	231	250	233	279	239	234	288
Operating Profit	53	29	34	27	1	35	20	19	23	34	25	27	39
OPM %	20%	8%	9%	9%	0%	9%	8%	7%	9%	11%	9%	10%	12%
	0	7	1	1	3	1	1	1	1	1	3	0	0
Interest	35	19	20	21	23	42	21	18	19	19	19	18	18
Depreciation	6	6	6	6	6	6	6	5	5	5	6	6	6
Profit before tax	12	10	8	1	-25	-12	-5	-4	0	10	3	3	16
Tax %	0%	-973%	0%	0%	0%	253%	0%	0%	0%	-95%	0%	0%	0%
	12	112	8	1	-25	-43	-5	-4	0	20	3	3	16
EPS in Rs	0.13	1.28	0.09	0.01	-0.29	-0.41	-0.05	-0.03	0.00	0.16	0.02	0.02	0.13
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013 9m	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	979	1,252	1,562	1,658	1,271	922	1,024	781	898	1,099	1,375	1,086	1,164
	883	1,124	1,387	1,506	1,197	933	1,000	710	764	993	1,279	989	1,040
Operating Profit	96	127	175	152	74	-11	24	71	134	106	97	96	125
OPM %	10%	10%	11%	9%	6%	-1%	2%	9%	15%	10%	7%	9%	11%
	20	7	12	11	-46	-39	-1	-1	77	20	5	4	4
Interest	63	80	128	123	157	136	10	3	26	88	106	78	75
Depreciation	12	15	25	27	30	29	30	27	43	24	24	21	23
Profit before tax	40	39	35	14	-159	-215	-17	39	143	14	-28	1	31
Tax %	-32%	8%	18%	46%	-1%	-21%	114%	-64%	2%	-704%	108%	-757%
	53	36	28	7	-157	-170	-37	64	140	116	-59	11	41
EPS in Rs	1.03	0.69	0.55	0.14	-2.07	-2.24	-0.48	0.85	1.74	1.32	-0.57	0.09	0.33
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-1%
5 Years:	1%
3 Years:	7%
TTM:	-1%

Compounded Profit Growth
10 Years:	-11%
5 Years:	18%
3 Years:	-47%
TTM:	179%

Stock Price CAGR
10 Years:	8%
5 Years:	45%
3 Years:	-27%
1 Year:	-42%

Return on Equity
10 Years:	-1%
5 Years:	11%
3 Years:	4%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	52	52	52	76	76	76	76	76	80	88	104	120	120
Reserves	230	266	323	288	222	52	15	80	222	403	413	542	552
	421	399	713	692	982	1,069	1,021	1,014	438	458	359	401	381
	514	624	774	811	436	337	315	217	249	168	256	205	244
Total Liabilities	1,217	1,342	1,863	1,868	1,716	1,533	1,428	1,387	989	1,117	1,132	1,268	1,297
	325	350	614	591	695	717	691	666	612	596	579	570	557
CWIP	4	9	46	53	54	5	4	4	6	7	13	50	89
Investments	35	35	0	0	0	0	0	0	0	0	0	0	0
	854	948	1,202	1,223	966	811	732	717	371	514	540	648	651
Total Assets	1,217	1,342	1,863	1,868	1,716	1,533	1,428	1,387	989	1,117	1,132	1,268	1,297

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	77	147	91	166	-149	50	60	37	79	5	138	-48
	-10	-46	-34	-9	-6	-2	-3	-2	13	9	-14	-49
	-66	-102	-49	-163	151	-49	-58	-10	-116	-1	-120	98
Net Cash Flow	1	-1	8	-5	-4	-0	-1	25	-23	13	4	1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	97	62	72	59	62	39	14	18	22	31	30	59
Inventory Days	196	218	195	190	215	268	257	344	100	98	88	123
Days Payable	196	185	169	153	36	45	59	65	49	33	45	52
Cash Conversion Cycle	97	95	99	96	241	262	212	297	74	95	73	129
Working Capital Days	94	74	88	70	143	135	107	155	40	38	44	103
ROCE %		17%	18%	13%	4%	-3%	-0%	5%	11%	10%	8%	8%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	49.78%	49.79%	49.79%	50.94%	55.92%	55.92%	55.92%	55.41%	49.57%	52.91%	52.91%	52.91%
	6.40%	6.35%	5.91%	4.52%	4.30%	4.01%	3.87%	1.47%	0.69%	0.69%	0.69%	0.72%
	4.35%	0.89%	0.89%	0.75%	0.66%	0.66%	0.66%	1.26%	1.26%	1.26%	1.26%	1.26%
	0.35%	0.35%	0.35%	0.30%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%
	39.12%	42.61%	43.06%	43.48%	38.86%	39.13%	39.29%	41.61%	48.23%	44.88%	44.88%	44.86%
No. of Shareholders	50,406	67,103	73,439	73,148	79,461	98,470	1,40,783	2,70,147	2,87,055	3,00,122	3,08,537	3,15,124

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	48.32%	47.58%	47.58%	47.58%	44.98%	49.78%	50.94%	55.41%	52.91%
	0.00%	0.00%	0.00%	0.00%	4.47%	6.65%	4.52%	1.47%	0.72%
	5.14%	5.12%	4.01%	4.04%	5.03%	4.51%	0.75%	1.26%	1.26%
	0.41%	0.41%	0.41%	0.41%	0.38%	0.35%	0.30%	0.26%	0.26%
	46.14%	46.89%	47.99%	47.97%	45.14%	38.71%	43.48%	41.61%	44.86%
No. of Shareholders	1,70,741	59,496	56,540	55,044	48,404	47,136	73,148	2,70,147	3,15,124

* 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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Steel Exchange India Ltd

Steel Exchange India Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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