Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹534 Cr.
Stock P/E
-236
P/B
3.4
Current Price
₹280
Book Value
₹ 81.3
Face Value
10
52W High
₹384.5
52W Low
₹ 261.3
Dividend Yield
0%

Panchmahal Steel Overview

Business

Panchmahal Steel Ltd. operates in the Steel & Iron Products sector. Its core business involves the manufacturing and sale of various steel and iron products. As a steel producer, the company likely processes raw materials such as iron ore, coal, and scrap to produce finished and semi-finished steel goods. It generates revenue by supplying these products to a diverse range of industries including construction, infrastructure development, manufacturing, automotive, and other industrial applications. The business model is primarily focused on production efficiency, quality control, and an effective distribution network to cater to customer demands.

Revenue Mix

While specific breakdowns are not publicly available without financial reports, companies in this industry typically segment their offerings by product type. Panchmahal Steel Ltd. is known to be a producer of specialized long products, which often include stainless steel wire rods, bright bars, and other custom steel profiles. Its revenue mix would largely depend on the sales volume and pricing of these various long products, catering to specific industrial applications where high-quality and specialized steel is required.

Industry

The Indian steel industry is cyclical, capital-intensive, and highly dependent on raw material availability and prices. It comprises large integrated players (e.g., Tata Steel, JSW Steel) and numerous secondary producers. Panchmahal Steel Ltd. generally positions itself as a specialized player, particularly in the production of stainless steel wire rods and bright bars, rather than a broad-based integrated steel producer. This focus allows it to carve out a niche within the competitive landscape, serving specific industrial requirements where quality and precise specifications are paramount, often placing it as a regional or niche leader in its chosen product categories.

MOAT

The steel industry, particularly for secondary or specialized producers, generally presents limited durable moats. For Panchmahal Steel Ltd., potential advantages could stem from:

Product Specialization & Quality: A focus on high-quality stainless steel and specialized products can create customer loyalty and differentiate it from commodity steel producers.

Cost Efficiency: Efficient operations, procurement strategies for raw materials, and energy management can contribute to a cost advantage, especially in a price-sensitive market.

Customer Relationships & Distribution: Established relationships with industrial clients and a strong distribution network for its specialized products can be a competitive edge.

Technical Expertise: Proficiency in producing specific grades and forms of steel required by demanding industries.

Growth Drivers

Key factors that can drive growth for Panchmahal Steel Ltd. over the next 3-5 years include:

Infrastructure Development: Government-led initiatives in infrastructure (roads, railways, smart cities) will drive significant demand for steel.

Manufacturing Sector Growth: Expansion in sectors like automotive, capital goods, and engineering, which are key consumers of specialized steel products.

Urbanization and Construction: Continued growth in real estate and housing will boost steel consumption.

Increased Demand for Stainless Steel: Growing applications of stainless steel in various industries due to its corrosion resistance and durability.

Capacity Expansion & Product Diversification: Strategic investments in expanding production capacity or diversifying into adjacent specialized steel products.

Risks

Cyclicality of the Steel Industry: Demand and prices for steel are highly cyclical, influenced by global economic conditions, which can lead to volatility in revenues and profitability.

Raw Material Price Volatility: Fluctuations in the prices of key raw materials like iron ore, coal, and energy can significantly impact production costs and margins.

Intense Competition: The presence of large integrated players and other specialized producers can lead to price wars and market share erosion.

Regulatory and Environmental Compliance: Stringent environmental regulations and trade policies (e.g., import duties, anti-dumping measures) can affect operational costs and market access.

Economic Slowdown: A downturn in the broader Indian or global economy would directly impact steel demand from user industries.

Management & Ownership

Typically, Indian companies in the steel sector are promoter-driven, meaning a founding family or group holds a significant stake and plays a crucial role in strategic decision-making and day-to-day operations. The quality of management is often reflected in their ability to navigate the cyclical nature of the steel industry, manage raw material price volatility, optimize operational efficiency, and drive strategic growth initiatives while maintaining sound corporate governance. Without specific details, it is assumed that the promoters maintain a controlling interest, influencing the company's long-term vision and operational direction.

Outlook

Panchmahal Steel Ltd.'s outlook is closely tied to the broader economic trajectory of India and the performance of key end-user industries. The bullish case hinges on sustained government focus on infrastructure spending, robust growth in the manufacturing and construction sectors, and increasing adoption of specialized steel products like stainless steel. Its niche positioning in specialized long products could offer some insulation from extreme commodity price fluctuations and allow for better margin realization compared to mass-market steel.

However, the company faces inherent risks associated with the cyclical nature of the steel industry, volatility in raw material prices, and intense competition. A global or domestic economic slowdown, unexpected surges in input costs, or adverse trade policies could negatively impact its profitability. Operational efficiency, prudent capital allocation, and continuous focus on product quality and customer relationships will be critical for Panchmahal Steel Ltd. to navigate these challenges and capitalize on growth opportunities in the evolving Indian industrial landscape.

Panchmahal Steel Share Price

Live · BSE / NSE · Inception: 1972
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Panchmahal Steel 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 98 98 99 95 91 88 93 98 106 94
Other Income 1 1 1 1 1 1 1 1 1 1
Total Income 100 99 100 95 92 89 93 99 106 95
Total Expenditure 93 93 94 89 91 88 89 94 102 86
Operating Profit 7 6 6 6 1 1 4 5 4 9
Interest 1 1 1 2 1 1 1 1 1 1
Depreciation 2 2 2 2 2 2 2 2 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 3 3 2 2 -3 -3 1 2 1 6
Provision for Tax 1 1 1 1 -1 -1 0 0 3 1
Profit After Tax 2 2 2 2 -2 -2 1 1 -2 4
Adjustments 0 0 -0 0 -0 -0 0 -0 0 0
Profit After Adjustments 2 2 2 2 -2 -2 1 1 -2 4
Adjusted Earnings Per Share 1.3 1 0.9 0.9 -1.1 -1 0.3 0.6 -1.1 2.3

Panchmahal Steel 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 290 329 396 453 330 339 574 489 428 383 384 391
Other Income 3 4 5 2 2 4 4 1 4 3 3 4
Total Income 293 333 401 455 333 343 578 490 432 386 387 393
Total Expenditure 292 312 379 430 327 316 498 473 412 368 373 371
Operating Profit 1 22 21 25 6 27 80 17 20 18 14 22
Interest 11 14 13 14 13 10 6 7 8 6 5 4
Depreciation 8 8 8 8 8 7 8 8 8 8 8 8
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -19 0 0 4 -15 10 67 2 4 5 1 10
Provision for Tax -6 -0 -0 1 17 0 8 1 1 1 3 4
Profit After Tax -13 0 1 3 -32 10 59 1 3 3 -2 4
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -13 0 1 3 -32 10 59 1 3 3 -2 4
Adjusted Earnings Per Share -6.6 0.2 0.3 1.3 -16.9 5.1 30.7 0.7 1.6 1.7 -1.2 2.1

Panchmahal Steel 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 121 121 121 124 92 102 160 154 157 160 151
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 9 9 9 9 9 0 0 0 0 0
Other Non-Current Liabilities -11 -10 -11 -17 0 1 9 8 8 7 7
Total Current Liabilities 147 181 171 150 152 166 130 133 69 74 67
Total Liabilities 258 300 290 265 253 277 299 295 234 242 224
Fixed Assets 108 101 96 90 82 75 73 71 65 57 52
Other Non-Current Assets 9 9 7 4 4 5 5 8 3 4 2
Total Current Assets 141 189 187 172 167 198 221 216 166 180 171
Total Assets 258 300 290 265 253 277 299 295 234 242 224

Panchmahal Steel 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 7 6 7 0 0 0 1 3 0 0 0
Cash Flow from Operating Activities 3 6 14 14 7 29 38 -30 40 -5 29
Cash Flow from Investing Activities 1 1 -1 0 3 -0 -3 -6 5 1 -3
Cash Flow from Financing Activities -6 -6 -14 -14 -10 -28 -32 34 -45 4 -26
Net Cash Inflow / Outflow -1 1 -0 -0 0 1 2 -3 0 0 -0
Closing Cash & Cash Equivalent 6 7 7 0 0 1 3 0 0 0 0

Panchmahal Steel 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) -6.6 0.15 0.29 1.34 -16.88 5.14 30.71 0.72 1.56 1.74 -1.19
CEPS(Rs) -2.31 4.23 4.39 5.34 -12.89 9.05 34.69 4.89 5.8 5.97 3
DPS(Rs) 0 0 0 0 0 0 4 0 0 3 0
Book NAV/Share(Rs) 63.51 63.66 63.39 64.73 48.08 53.28 83.84 80.63 82.23 84.02 78.99
Core EBITDA Margin(%) -0.59 4.94 4.14 5.05 1.18 6.81 13.26 3.18 3.67 4.05 2.9
EBIT Margin(%) -2.34 3.8 3.34 3.84 -0.51 5.9 12.63 1.84 2.77 2.65 1.6
Pre Tax Margin(%) -5.91 0.07 0.1 0.84 -4.6 2.89 11.6 0.39 0.92 1.19 0.19
PAT Margin (%) -3.97 0.08 0.14 0.56 -9.75 2.89 10.21 0.28 0.69 0.87 -0.59
Cash Profit Margin (%) -1.39 2.23 2.11 2.25 -7.44 5.09 11.54 1.91 2.59 2.97 1.49
ROA(%) -4.47 0.11 0.19 0.92 -12.44 3.7 20.34 0.46 1.12 1.4 -0.97
ROE(%) -9.88 0.24 0.45 2.09 -29.93 10.15 44.78 0.88 1.91 2.1 -1.46
ROCE(%) -3.97 7.35 6.96 9.08 -0.95 12.48 42.06 4.29 5.56 5 3.11
Receivable days 30.94 33.95 36.76 25.91 29 31.46 23.67 32 36.51 41.43 44.39
Inventory Days 131.04 119.74 120.03 105.06 144.96 150.53 100.06 119.72 116.98 117.19 117.38
Payable days 51.52 110.36 136.56 105.19 128.36 155.95 99.06 71.94 43.48 28.79 27.98
PER(x) 0 229.72 130.07 28.93 0 6.2 4.82 189.3 93.2 77.85 0
Price/Book(x) 0.28 0.56 0.59 0.6 0.33 0.6 1.77 1.7 1.76 1.62 3.62
Dividend Yield(%) 0 0 0 0 0 0 2.7 0 0 2.21 0
EV/Net Sales(x) 0.31 0.4 0.34 0.3 0.29 0.32 0.52 0.68 0.74 0.8 1.51
EV/Core EBITDA(x) 116.62 6.04 6.36 5.45 16.42 3.92 3.75 19.48 15.76 16.89 41.04
Net Sales Growth(%) -25.71 13.52 20.19 14.43 -27.06 2.57 69.21 -14.81 -12.49 -10.41 0.3
EBIT Growth(%) -246.65 285.8 -3.35 30.94 -109.74 1277.94 262.47 -87.61 32.11 -14.3 -39.51
PAT Growth(%) -256.67 102.34 86.09 367.65 -1359.03 130.45 497.17 -97.65 115.42 11.99 -168.07
EPS Growth(%) -256.67 102.34 86.09 367.65 -1359.03 130.45 497.16 -97.65 115.43 12 -168.07
Debt/Equity(x) 0.51 0.57 0.58 0.56 0.79 0.54 0.18 0.5 0.25 0.31 0.23
Current Ratio(x) 0.95 1.05 1.09 1.15 1.1 1.19 1.7 1.62 2.39 2.43 2.56
Quick Ratio(x) 0.24 0.31 0.34 0.27 0.24 0.3 0.42 0.46 0.67 0.72 0.76
Interest Cover(x) -0.65 1.02 1.03 1.28 -0.13 1.96 12.28 1.27 1.49 1.81 1.14
Total Debt/Mcap(x) 1.81 1.03 0.98 0.94 2.4 0.9 0.1 0.29 0.14 0.19 0.06

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% -8% +3% +3%
Operating Profit CAGR -22% -6% -12% +30%
PAT CAGR -167% 0% 0% —
Share Price CAGR +2% +28% +24% +28%
ROE Average -1% +1% +10% +2%
ROCE Average +3% +5% +12% +8%

Panchmahal Steel Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 73.81 %
FII 0 %
DII (MF + Insurance) 3.93 %
Public (retail) 22.26 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 74.974.8674.8674.3873.8173.8173.8173.8173.8173.81
FII 0000000000
DII 3.933.933.933.933.933.933.933.933.933.93
Public 21.1721.2121.2121.6922.2622.2622.2622.2622.2622.26
Others 0000000000
Total 100100100100100100100100100100

Panchmahal Steel Peer Comparison

Steel & Iron Products Edit Columns

Panchmahal Steel Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Panchmahal Steel Pros & Cons

Pros

  • Debtor days have improved from 28.79 to 27.98days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 1% over the last 3 years.
  • Stock is trading at 3.4 times its book value.
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