Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹30 Cr.
Stock P/E
14.8
P/B
0.3
Current Price
₹23.9
Book Value
₹ 68.5
Face Value
10
52W High
₹32.5
52W Low
₹ 17
Dividend Yield
0%

Ashirwad Steels &Ind Overview

Business

Ashirwad Steels & Industries Ltd. is an Indian company primarily engaged in the manufacturing and sale of various steel and iron products. Its core business model revolves around sourcing raw materials (such as iron ore, scrap, and coal), processing them into finished or semi-finished steel products, and distributing them to a range of customers. The company generates revenue through the sale of these products, catering likely to infrastructure, construction, manufacturing, and potentially other industrial sectors.

Revenue Mix

While specific breakdowns are not publicly available, steel manufacturers typically deal in product categories such as:

Long Products: This includes TMT bars (thermo-mechanically treated bars), wire rods, angles, channels, and beams, which are crucial for construction and infrastructure projects.

Flat Products: This could involve sheets, plates, and coils used in automotive, manufacturing, and general engineering applications.

Given the typical profile of Indian steel companies of this nature, long products for construction are often a significant revenue driver.

Industry

The Indian steel industry is large, cyclical, and capital-intensive, driven heavily by infrastructure development, urbanization, and industrial growth. It is characterized by the presence of large integrated players (e.g., Tata Steel, JSW Steel), medium-sized secondary steel producers, and numerous smaller, regional units. Ashirwad Steels & Industries Ltd. likely operates as a secondary steel producer, competing in specific regional markets or product niches. Its positioning would be against other regional players, focusing on cost efficiency, local distribution, and meeting regional demand, rather than being a diversified national or global player.

MOAT

For a company of its likely scale in the highly competitive Indian steel market, strong durable competitive advantages (moats) are challenging to establish. Potential advantages could include:

Cost Efficiency: Optimized production processes or favorable access to raw materials and energy in its operating region could provide a cost advantage.

Regional Market Presence: An established brand name and distribution network within its specific geographical operating area can create some customer stickiness.

Customer Relationships: Long-standing relationships with key industrial or construction clients.

However, being primarily a commodity producer, it typically faces price-based competition, limiting the strength of these advantages.

Growth Drivers

Infrastructure Spending: The Indian government's continued focus and investment in infrastructure development (roads, railways, ports, urban development) will drive demand for steel products.

Real Estate & Construction: Growth in housing, commercial construction, and smart city initiatives will be a key demand driver.

Manufacturing Sector Growth: Expansion in sectors like automotive, capital goods, and consumer durables will increase demand for steel.

Urbanization: Growing urban populations lead to increased construction activity and demand for related materials.

Capacity Expansion/Modernization: Any strategic investments by the company to expand production capacity or upgrade technology to improve efficiency and product quality could drive growth.

Risks

Commodity Price Volatility: Fluctuations in the prices of key raw materials like iron ore, coking coal, and scrap, as well as energy costs, can significantly impact profitability.

Economic Downturn: A slowdown in the Indian economy, particularly in infrastructure and construction, would directly reduce demand for steel products.

Intense Competition: The highly fragmented and competitive nature of the Indian steel market can lead to price wars and margin pressures.

Regulatory & Environmental Changes: Stricter environmental norms, changes in mining policies, or trade protectionist measures can impact operations and costs.

High Capital Expenditure: Steel production is capital-intensive, potentially leading to high debt levels and sensitivity to interest rate changes.

Management & Ownership

Ashirwad Steels & Industries Ltd. is likely a promoter-driven company, a common structure in India where a founding family or group maintains significant control and strategic direction. The promoters' vision and experience would play a crucial role in the company's long-term strategy and operational management. Ownership typically involves a significant stake held by the promoter group, with the remaining shares held by institutional investors, retail investors, and other public shareholders. The quality of management would depend on their ability to navigate cyclical industry dynamics, manage costs, and implement effective growth strategies.

Outlook

Ashirwad Steels & Industries Ltd. operates in an industry with significant tailwinds from India's long-term growth story, particularly in infrastructure and construction. The bull case hinges on sustained high domestic demand, stable raw material costs, and the company's ability to operate efficiently and capture market share in its specific segments. The bear case involves risks from volatile input costs, potential economic slowdowns impacting demand, and intense competition leading to margin erosion. The company's performance will largely depend on its ability to manage these external factors effectively while optimizing its operational efficiency and maintaining strong customer relationships in its regional markets.

Ashirwad Steels &Ind Share Price

Live · BSE · Inception: 1986
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Ashirwad Steels &Ind Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 1 0 0 0 1 0 0 1 1 1
Other Income 1 1 1 1 1 1 1 0 0 1
Total Income 2 1 1 1 1 1 1 1 1 1
Total Expenditure 0 0 0 0 0 0 0 0 1 0
Operating Profit 1 1 1 1 1 1 1 1 1 1
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 1 1 1 1 1 1 1 1 1
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax 1 1 1 0 1 0 1 0 0 1
Adjustments 0 0 -0 0 -0 0 0 0 0 0
Profit After Adjustments 1 1 1 0 1 0 1 0 0 1
Adjusted Earnings Per Share 0.7 0.5 0.4 0.4 0.6 0.4 0.5 0.4 0.4 0.4

Ashirwad Steels &Ind Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 1 2 22 3 8 2 3 2 2 2 2 3
Other Income 3 2 2 15 3 3 1 2 3 2 2 2
Total Income 4 4 24 18 11 5 4 4 4 4 4 4
Total Expenditure 3 3 23 7 14 5 4 2 1 1 1 1
Operating Profit 1 1 1 10 -3 0 0 3 3 3 3 4
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 5 16 0 0 0 0
Profit Before Tax 0 1 0 10 -4 -0 5 19 3 3 3 4
Provision for Tax -0 0 -0 2 0 -0 0 2 1 1 1 0
Profit After Tax 0 1 1 8 -4 -0 5 17 2 2 2 2
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 0 1 1 8 -4 -0 5 17 2 2 2 2
Adjusted Earnings Per Share 0.1 0.6 0.4 6 -2.9 -0.3 3.7 13.4 1.8 1.8 1.6 1.7

Ashirwad Steels &Ind Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 51 52 53 61 56 56 61 78 81 83 85
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 2 1 1 1 0 0 -0 -0 -0 -0 -0
Total Current Liabilities 0 0 2 3 5 1 1 2 1 1 1
Total Liabilities 53 54 56 64 61 57 62 80 82 84 86
Fixed Assets 9 8 7 5 5 5 1 0 0 0 0
Other Non-Current Assets 6 31 32 38 28 26 37 58 68 68 65
Total Current Assets 38 14 16 22 28 27 24 21 13 15 20
Total Assets 53 54 56 64 61 57 62 80 82 84 86

Ashirwad Steels &Ind Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 12 20 20 16 25 13 14 34 41 2 0
Cash Flow from Operating Activities -1 -1 -3 -9 4 -1 9 16 9 -4 -4
Cash Flow from Investing Activities 5 2 -1 17 -17 3 11 -9 -48 2 5
Cash Flow from Financing Activities 3 -0 -0 -0 2 -2 -0 -0 -0 -0 -0
Net Cash Inflow / Outflow 8 1 -4 8 -11 0 20 7 -39 -2 1
Closing Cash & Cash Equivalent 20 20 16 25 13 14 34 41 2 0 1

Ashirwad Steels &Ind Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 0.15 0.61 0.41 6.02 -2.94 -0.25 3.69 13.41 1.8 1.84 1.62
CEPS(Rs) 0.65 1.11 0.91 6.39 -2.65 0.04 3.98 13.47 1.87 1.9 1.68
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 40.57 41.77 42.15 48.51 44.61 45.16 49.09 62.71 64.68 66.5 68.11
Core EBITDA Margin(%) -275.91 -35.33 -2.56 -149.15 -63.9 -185.83 -26 26.61 32.37 39.52 34.59
EBIT Margin(%) 16.73 44.53 1.94 310.56 -36.17 -17.49 152.98 880.85 205.09 173.38 132.04
Pre Tax Margin(%) 3.23 42.86 1.5 309.59 -37.23 -20.78 146.71 879.61 200.98 171.64 129.47
PAT Margin (%) 20.91 39.79 2.01 242.27 -38.74 -18.8 141.87 790.36 142.26 127.27 97.75
Cash Profit Margin (%) 93.2 72.74 4.41 257.04 -34.98 2.66 152.69 793.99 147.07 131.67 101.73
ROA(%) 0.34 1.42 0.95 12.54 -5.85 -0.53 7.76 23.64 2.79 2.78 2.39
ROE(%) 0.36 1.48 0.99 13.28 -6.31 -0.56 7.84 24 2.83 2.8 2.4
ROCE(%) 0.29 1.65 0.96 17.02 -5.79 -0.51 8.45 26.74 4.08 3.82 3.24
Receivable days 0 0 26.12 137.91 26.66 119.2 0 0 0 0 0
Inventory Days 1490.1 514.79 54.59 868.16 253.74 780.77 0 0 0 0 0
Payable days 0 44.84 10.77 112.36 15.57 0 0 0 0 0 0
PER(x) 34.3 17.59 27.4 1.74 0 0 4.25 1.4 21.43 16.93 10.58
Price/Book(x) 0.12 0.26 0.27 0.22 0.2 0.23 0.32 0.3 0.6 0.47 0.25
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) -15.78 4.9 0.48 4.6 1.58 7.88 5.11 10.72 28.92 21.3 9.78
EV/Core EBITDA(x) -17.73 6.14 9.54 1.26 -4.21 186.58 702.26 7.88 13.78 11.98 7.19
Net Sales Growth(%) -83.1 112.8 1102.72 -87.58 195.91 -80.74 106.64 -34.83 -25.27 13.83 14.54
EBIT Growth(%) 236.25 483.78 -40.97 1822.48 -135.55 91.45 1799.62 275.22 -82.6 -3.77 -12.77
PAT Growth(%) 240.59 317.53 -31.82 1352.83 -148.81 91.43 1566.5 263.05 -86.55 1.84 -12.04
EPS Growth(%) 240.58 317.66 -31.82 1352.91 -148.81 91.43 1566.61 263.05 -86.55 1.84 -12.03
Debt/Equity(x) 0 0 0 0 0.04 0 0 0 0 0 0
Current Ratio(x) 419.28 42.47 8.04 7.28 5.24 49.65 33.31 11.29 15.28 19.31 29.68
Quick Ratio(x) 385.07 35.76 5.35 4.19 4.52 43.58 33.31 11.29 15.28 19.31 29.68
Interest Cover(x) 1.24 26.81 4.34 318.32 -33.98 -5.32 24.38 707.78 49.86 99.96 51.3
Total Debt/Mcap(x) 0 0 0 0 0.18 0 0 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% 0% 0% +7%
Operating Profit CAGR 0% 0% — +12%
PAT CAGR 0% -51% — —
Share Price CAGR -23% -22% +20% +10%
ROE Average +2% +3% +8% +4%
ROCE Average +3% +4% +9% +5%

Ashirwad Steels &Ind Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 69.06 %
FII 0 %
DII (MF + Insurance) 0.07 %
Public (retail) 30.87 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 69.0669.0669.0669.0669.0669.0669.0669.0669.0669.06
FII 0000000000
DII 0.070.070.070.070.070.070.070.070.070.07
Public 30.8730.8730.8730.8730.8730.8730.8730.8730.8730.87
Others 0000000000
Total 100100100100100100100100100100

Ashirwad Steels &Ind Peer Comparison

Steel & Iron Products Edit Columns

Ashirwad Steels &Ind Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Ashirwad Steels &Ind Pros & Cons

Pros

  • Stock is trading at 0.3 times its book value
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 3% over the last 3 years.
  • Earnings include an other income of Rs. 2 Cr.
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