Steel & Iron Products · Founded 1999 · www.shahgroupco.com · BSE 533275 · NSE SHAH · ISIN INE482J01021
No Notes Added Yet
Business
Shah Metacorp Ltd. operates in the Steel & Iron Products sector in India. The company is primarily involved in the manufacturing, processing, and/or trading of various steel and iron products. Its core business model involves sourcing raw materials (such as iron ore, coal, scrap), processing them into finished or semi-finished steel products, and then selling these products to industrial customers. Revenue is generated from the sales of these manufactured or traded goods, catering to sectors like construction, infrastructure, manufacturing, and automotive industries.
Revenue Mix
Specific details regarding Shah Metacorp Ltd.'s key business segments or a detailed revenue mix are not publicly available based on the provided information. Companies in this industry typically produce a range of products, which might include TMT bars, structural steel, wire rods, billets, coils, and other value-added steel products. Without further information, it is difficult to ascertain the exact breakdown of their product portfolio or revenue contribution from different categories.
Industry
The Indian Steel & Iron sector is a foundational industry, characterized by its capital intensity, cyclical nature, and direct linkage to economic growth, particularly in infrastructure, construction, and manufacturing. The industry is highly competitive, with a mix of large integrated players (both public and private) and numerous smaller, often regional, producers. Shah Metacorp Ltd.'s positioning within this landscape would depend on factors such as its scale of operations, product specialization (e.g., commodity vs. value-added steel), geographical focus, and cost efficiency. Given the ticker SHAH, it is likely a smaller to mid-sized player compared to large integrated steel giants in India.
MOAT
In the Steel & Iron Products industry, strong competitive advantages (moats) are typically derived from scale (leading to lower per-unit costs), backward integration (captive raw material mines), technological superiority, and strategic location. For a company like Shah Metacorp Ltd., without specific operational details, it is unlikely to possess a deep structural moat like vast captive mines or global brand recognition typical of large diversified players. Any competitive advantage would likely stem from operational efficiencies, strong regional customer relationships, specialized product offerings, cost-effective sourcing, or timely delivery and service rather than a durable, wide economic moat.
Growth Drivers
Indian Infrastructure Development: Government initiatives and significant investments in infrastructure projects (roads, railways, ports, urban development) will drive sustained demand for steel.
Urbanization & Real Estate: Growing urban populations and demand for housing and commercial spaces fuel construction activity, directly boosting steel consumption.
Manufacturing Sector Growth: Expansion in industries like automotive, capital goods, and consumer durables will increase the need for various steel products.
Economic Growth: Overall economic growth in India directly correlates with increased steel consumption across various end-user sectors.
"Make in India" Initiative: Policies promoting domestic manufacturing could provide an impetus to local steel producers.
Risks
Cyclicality of Demand: The steel industry is highly cyclical, sensitive to economic downturns, impacting demand and pricing.
Raw Material Price Volatility: Fluctuations in prices of key inputs like iron ore, coal, and scrap can significantly impact profitability.
Intense Competition: The presence of numerous domestic and international players can lead to pricing pressure and margin erosion.
Regulatory & Environmental Compliance: Evolving environmental regulations and trade policies (e.g., anti-dumping duties, import tariffs) can affect operations and costs.
Capital Intensity: The sector requires significant capital expenditure for expansion and modernization, making it sensitive to interest rate changes and financing availability.
Import Competition: Cheaper imports, especially from countries with surplus capacity, can pose a threat to domestic producers.
Management & Ownership
As is common with many Indian companies, Shah Metacorp Ltd. is likely promoted and significantly owned by its founding family or a core promoter group. The management structure would typically involve key promoter family members in leadership roles, supported by professional management. The quality of management and corporate governance would depend on their experience, strategic vision, execution capabilities, and commitment to transparency and minority shareholder interests, which cannot be assessed without further information. Ownership would likely be concentrated within the promoter group, with a portion held by the public.
Outlook
Shah Metacorp Ltd., as a participant in the Indian Steel & Iron Products sector, is poised to benefit from India's robust long-term growth story driven by infrastructure development, urbanization, and a growing manufacturing base. This creates a favorable demand environment for steel products. However, the company also faces significant industry-specific challenges, including intense competition, volatility in raw material prices, and the inherent cyclicality of the steel sector. Its ability to navigate these challenges through operational efficiency, strategic product positioning, and effective cost management will be crucial for sustained performance. The outlook is balanced between the strong fundamental demand drivers of the Indian economy and the competitive and capital-intensive nature of the steel industry.
| #(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 | 46 | 46 | 49 | 40 | 41 | 29 | 67 | 50 | 62 | 57 |
| Other Income | 0 | 0 | 1 | 2 | 1 | 1 | 1 | 2 | 17 | 1 |
| Total Income | 46 | 46 | 49 | 42 | 42 | 30 | 67 | 52 | 79 | 58 |
| Total Expenditure | 44 | 43 | 46 | 38 | 39 | 26 | 65 | 49 | 66 | 52 |
| Operating Profit | 2 | 3 | 3 | 4 | 3 | 4 | 2 | 3 | 13 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | 27 | 2 | 3 | 2 | 3 | 1 | 1 | 10 | 5 |
| Provision for Tax | 0 | 4 | 0 | 0 | -2 | 0 | 0 | 0 | 2 | 1 |
| Profit After Tax | 1 | 23 | 2 | 3 | 4 | 2 | 1 | 1 | 8 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | -0 |
| Profit After Adjustments | 1 | 23 | 2 | 3 | 4 | 2 | 1 | 1 | 8 | 3 |
| Adjusted Earnings Per Share | 0 | 0.6 | 0 | 0.1 | 0.1 | 0 | 0 | 0 | 0.1 | 0 |
| #(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 | 159 | 173 | 95 | 148 | 65 | 13 | 20 | 40 | 97 | 176 | 208 | 236 |
| Other Income | 5 | 0 | 0 | 7 | 9 | 0 | 3 | 7 | 4 | 3 | 20 | 21 |
| Total Income | 164 | 173 | 95 | 155 | 73 | 13 | 23 | 47 | 101 | 179 | 228 | 256 |
| Total Expenditure | 157 | 161 | 98 | 157 | 78 | 94 | 30 | 44 | 93 | 165 | 206 | 232 |
| Operating Profit | 7 | 12 | -3 | -3 | -4 | -82 | -7 | 3 | 8 | 14 | 22 | 24 |
| Interest | 12 | 12 | 10 | 7 | 6 | 6 | 1 | 0 | 0 | 0 | 2 | 2 |
| Depreciation | 11 | 9 | 8 | 7 | 6 | 5 | 4 | 3 | 4 | 4 | 4 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -6 | 0 | 0 | 11 | 0 | 0 | 25 | 0 | 0 |
| Profit Before Tax | -15 | -9 | -21 | -22 | -16 | -92 | 0 | -0 | 4 | 35 | 15 | 17 |
| Provision for Tax | -2 | -3 | -3 | -1 | -2 | -18 | 6 | -2 | 0 | 3 | 3 | 3 |
| Profit After Tax | -13 | -6 | -18 | -20 | -14 | -74 | -6 | 2 | 4 | 33 | 12 | 14 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -13 | -6 | -18 | -20 | -14 | -74 | -6 | 2 | 4 | 33 | 12 | 13 |
| Adjusted Earnings Per Share | -0.7 | -0.3 | -0.9 | -1.1 | -0.7 | -3.9 | -0.3 | 0 | 0.1 | 0.5 | 0.1 | 0.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 18% | 73% | 74% | 3% |
| Operating Profit CAGR | 57% | 94% | 0% | 12% |
| PAT CAGR | -64% | 82% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -35% | 1% | 7% | -13% |
| ROE Average | 5% | 15% | 9% | -8% |
| ROCE Average | 5% | 12% | 7% | -10% |
| #(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 | 79 | 75 | 58 | 37 | 24 | -50 | -31 | 18 | 57 | 165 | 305 |
| Minority's Interest | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Borrowings | 24 | 17 | 8 | 5 | 7 | 32 | 76 | 62 | 37 | 18 | 239 |
| Other Non-Current Liabilities | 5 | -1 | -4 | -5 | -7 | -25 | -19 | -21 | -21 | -19 | -18 |
| Total Current Liabilities | 132 | 159 | 162 | 155 | 152 | 133 | 43 | 40 | 44 | 15 | 18 |
| Total Liabilities | 242 | 251 | 224 | 192 | 176 | 89 | 67 | 99 | 117 | 179 | 547 |
| Fixed Assets | 56 | 48 | 42 | 34 | 29 | 24 | 21 | 25 | 21 | 28 | 99 |
| Other Non-Current Assets | 11 | 11 | 10 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 78 |
| Total Current Assets | 175 | 193 | 173 | 154 | 143 | 61 | 43 | 71 | 92 | 149 | 370 |
| Total Assets | 242 | 251 | 224 | 192 | 176 | 89 | 67 | 99 | 117 | 179 | 547 |
| #(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 | 3 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 29 | 0 | 0 |
| Cash Flow from Operating Activities | -3 | 4 | 20 | 8 | 4 | -11 | -21 | -0 | -32 | -47 | -58 |
| Cash Flow from Investing Activities | 4 | -2 | -2 | 1 | 0 | 0 | 0 | -7 | -0 | -10 | -220 |
| Cash Flow from Financing Activities | -1 | -1 | -19 | -9 | -4 | 11 | 21 | 35 | 4 | 57 | 279 |
| Net Cash Inflow / Outflow | -1 | 1 | -0 | -0 | 0 | -0 | 0 | 28 | -28 | -0 | 2 |
| Closing Cash & Cash Equivalent | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 29 | 0 | 0 | 2 |
| # | 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) | -0.69 | -0.31 | -0.92 | -1.05 | -0.71 | -3.86 | -0.29 | 0.05 | 0.1 | 0.55 | 0.14 |
| CEPS(Rs) | -0.14 | 0.17 | -0.52 | -0.71 | -0.43 | -3.62 | -0.1 | 0.14 | 0.19 | 0.61 | 0.18 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 4.12 | 3.92 | 3.02 | 1.95 | 1.24 | -2.6 | -1.63 | 0.53 | 1.36 | 2.77 | 3.42 |
| Core EBITDA Margin(%) | 1.32 | 6.83 | -2.8 | -6.28 | -19.95 | -650.65 | -47.58 | -10.15 | 3.71 | 6.35 | 0.85 |
| EBIT Margin(%) | -1.94 | 1.63 | -10.92 | -10.09 | -14.98 | -684.92 | 4.52 | 0.1 | 4.57 | 20.09 | 8.52 |
| Pre Tax Margin(%) | -8.3 | -5.37 | -21.64 | -14.56 | -24.19 | -733.98 | 1.83 | -0.72 | 4.55 | 20.07 | 7.33 |
| PAT Margin (%) | -7.25 | -3.49 | -18.72 | -13.72 | -21.15 | -591.03 | -28.1 | 4.15 | 4.41 | 18.51 | 5.84 |
| Cash Profit Margin (%) | -1.49 | 1.83 | -10.43 | -9.23 | -12.59 | -554.92 | -9.79 | 11.47 | 8.05 | 20.57 | 7.84 |
| ROA(%) | -5.44 | -2.44 | -7.5 | -9.75 | -7.43 | -56.13 | -7.21 | 1.99 | 3.96 | 22.02 | 3.34 |
| ROE(%) | -15.49 | -7.79 | -26.63 | -42.38 | -44.61 | 0 | 0 | 0 | 11.35 | 29.26 | 5.16 |
| ROCE(%) | -2.02 | 1.61 | -6.57 | -11.86 | -9.18 | -121.4 | 2.01 | 0.06 | 4.93 | 25.55 | 4.87 |
| Receivable days | 205.57 | 256.09 | 471.45 | 274.2 | 620.99 | 2179.02 | 546.23 | 206.33 | 160.73 | 198.12 | 219.14 |
| Inventory Days | 92.51 | 91.07 | 157.22 | 92.88 | 164.61 | 537.6 | 245.26 | 104.19 | 38.74 | 21.78 | 31.57 |
| Payable days | 106.21 | 131.98 | 224.84 | 123.1 | 296.31 | 538.42 | 448.82 | 175.88 | 86.89 | 44.12 | 31.18 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 48.59 | 29.9 | 5.23 | 33.91 |
| Price/Book(x) | 0.66 | 2.38 | 1.71 | 2.09 | 0.83 | -0.62 | -1.78 | 4.55 | 2.22 | 1.02 | 1.34 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.91 | 1.62 | 1.9 | 1.03 | 1.47 | 9.82 | 6.72 | 2.99 | 1.69 | 1.07 | 3.12 |
| EV/Core EBITDA(x) | 20.7 | 23.26 | -72.33 | -58.57 | -22.87 | -1.51 | -20.24 | 40.33 | 20.61 | 13.24 | 29.78 |
| Net Sales Growth(%) | -12.23 | 8.59 | -45 | 55.42 | -56.24 | -80.56 | 59.26 | 98.98 | 142.66 | 82.04 | 18.07 |
| EBIT Growth(%) | -131.62 | 179.02 | -468.31 | -43.57 | 35.04 | -788.91 | 101.05 | -95.75 | 0 | 700.95 | -49.95 |
| PAT Growth(%) | 0 | 54.74 | -195.44 | -13.94 | 32.56 | -443.31 | 92.43 | 129.36 | 157.78 | 664.68 | -62.77 |
| EPS Growth(%) | 0 | 54.74 | -195.45 | -13.94 | 32.56 | -443.31 | 92.43 | 116.93 | 104.15 | 439.93 | -75.02 |
| Debt/Equity(x) | 1.21 | 1.34 | 1.4 | 1.98 | 3.17 | -1.85 | -2.51 | 3.82 | 0.64 | 0.11 | 0.78 |
| Current Ratio(x) | 1.32 | 1.21 | 1.06 | 1 | 0.94 | 0.46 | 1.02 | 1.77 | 2.09 | 10.04 | 20.59 |
| Quick Ratio(x) | 0.97 | 0.96 | 0.81 | 0.78 | 0.78 | 0.37 | 0.67 | 1.58 | 1.8 | 9.48 | 19.05 |
| Interest Cover(x) | -0.31 | 0.23 | -1.02 | -2.26 | -1.63 | -13.96 | 1.68 | 0.12 | 309.03 | 889.31 | 7.19 |
| Total Debt/Mcap(x) | 1.84 | 0.56 | 0.82 | 0.95 | 3.82 | 2.99 | 1.42 | 0.84 | 0.29 | 0.1 | 0.58 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.18 | 29.81 | 30.87 | 30.87 | 33.17 | 29.15 | 29.15 | 29.15 | 29.49 | 32.51 |
| FII | 0 | 0.06 | 0 | 0 | 0 | 0 | 0.01 | 0 | 1.09 | 0.48 |
| DII | 0 | 0 | 0 | 0 | 0.05 | 0.04 | 0.04 | 0.04 | 1.02 | 0 |
| Public | 63.82 | 70.13 | 69.13 | 69.13 | 66.78 | 70.81 | 70.8 | 70.81 | 68.4 | 67.01 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 15.18 | 17.44 | 18.34 | 18.34 | 21.89 | 25.8 | 25.8 | 25.8 | 28.97 | 33.37 |
| FII | 0 | 0.03 | 0 | 0 | 0 | 0 | 0.01 | 0 | 1.07 | 0.49 |
| DII | 0 | 0 | 0 | 0 | 0.04 | 0.04 | 0.04 | 0.04 | 1 | 0 |
| Public | 26.78 | 41.02 | 41.05 | 41.05 | 44.06 | 62.68 | 62.67 | 62.68 | 67.2 | 68.78 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 41.96 | 58.49 | 59.39 | 59.39 | 65.98 | 88.52 | 88.52 | 88.52 | 98.24 | 102.64 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +18% | +73% | +74% | +3% |
| Operating Profit CAGR | +57% | +94% | — | +12% |
| PAT CAGR | -64% | +82% | — | — |
| Share Price CAGR | -35% | +1% | +7% | -13% |
| ROE Average | +5% | +15% | +9% | -8% |
| ROCE Average | +5% | +12% | +7% | -10% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 36.18 | 29.81 | 30.87 | 30.87 | 33.17 | 29.15 | 29.15 | 29.15 | 29.49 | 32.51 |
| FII | 0 | 0.06 | 0 | 0 | 0 | 0 | 0.01 | 0 | 1.09 | 0.48 |
| DII | 0 | 0 | 0 | 0 | 0.05 | 0.04 | 0.04 | 0.04 | 1.02 | 0 |
| Public | 63.82 | 70.13 | 69.13 | 69.13 | 66.78 | 70.81 | 70.8 | 70.81 | 68.4 | 67.01 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 15.18 | 17.44 | 18.34 | 18.34 | 21.89 | 25.8 | 25.8 | 25.8 | 28.97 | 33.37 |
| FII | 0 | 0.03 | 0 | 0 | 0 | 0 | 0.01 | 0 | 1.07 | 0.49 |
| DII | 0 | 0 | 0 | 0 | 0.04 | 0.04 | 0.04 | 0.04 | 1 | 0 |
| Public | 26.78 | 41.02 | 41.05 | 41.05 | 44.06 | 62.68 | 62.67 | 62.68 | 67.2 | 68.78 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 41.96 | 58.49 | 59.39 | 59.39 | 65.98 | 88.52 | 88.52 | 88.52 | 98.24 | 102.64 |
* The pros and cons are machine generated.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.
Your relationship manager will connect with you shortly.