Metal - Non Ferrous · Founded 1993 · www.poojametal.com · BSE 540727 · · ISIN INE973X01012
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Business
Poojawestern Metaliks Ltd. is an India-based company primarily engaged in the manufacturing of non-ferrous metal alloys and various ferrous and non-ferrous metal components. The company specializes in producing alloys of copper, brass, bronze, lead, and zinc. Its core business model involves melting and processing virgin metals and scrap to produce ingots, billets, and finished components that cater to diverse industrial applications. Key industries served include electrical, automotive, construction, and general engineering. The company makes money by manufacturing and selling these specialized metal alloys and components to industrial customers.
Revenue Mix
The company's primary revenue driver comes from the manufacturing and sale of a range of non-ferrous metal alloys and components. While specific percentage breakdowns are not readily available in public summaries, its product portfolio indicates a focus across:
Copper-based alloys: Such as copper ingots and various brass and bronze alloys.
Lead-based alloys: Including lead ingots and specific industrial alloys.
Zinc-based alloys: Zinc ingots and other specialized compositions.
Their revenue is largely generated from B2B sales to manufacturers in its target end-use sectors.
Industry
Poojawestern Metaliks operates within the Indian non-ferrous metal industry, which is a vital segment supplying critical raw materials to various manufacturing sectors. This industry is characterized by significant reliance on raw material imports (especially scrap), price volatility linked to global commodity markets, and competition from both organized and unorganized players. Poojawestern is positioned as a specialized manufacturer of specific non-ferrous alloys and components, often catering to niche requirements within the industrial supply chain. It competes with other mid-sized and smaller alloy manufacturers, as well as larger metal companies that may have broader product offerings.
MOAT
The company's competitive advantages are likely rooted in:
Specialized Product Expertise: A focused approach on a variety of non-ferrous alloys demonstrates technical know-how and ability to meet specific industry standards.
Customer Relationships: Long-standing engagements with industrial clients across diverse sectors (electrical, automotive, construction) suggest established trust and supply chain integration.
Quality & Consistency: Critical in alloy manufacturing, the ability to consistently deliver products meeting customer specifications can be a differentiator.
Operational Efficiency: Effective sourcing of scrap metals and efficient manufacturing processes can lead to cost advantages in a commodity-driven market.
Growth Drivers
Key factors that can drive Poojawestern's growth over the next 3-5 years include:
Domestic Industrial Growth: Continued expansion in India's manufacturing, automotive, electrical, and construction sectors will directly drive demand for non-ferrous alloys and components.
Infrastructure Spending: Government initiatives in infrastructure development (roads, railways, smart cities) will boost demand for metals.
"Make in India" Initiative: Policy support for domestic manufacturing can create a more favorable environment for local metal producers.
Product Diversification/Value Addition: Expanding into higher-value specialized alloys or finished components can improve margins and market reach.
Export Opportunities: Tapping into international markets for its specialized alloys could provide additional revenue streams.
Risks
Key business risks include:
Raw Material Price Volatility: Prices of copper, lead, zinc, and scrap metals are subject to significant global fluctuations, directly impacting input costs and margins.
Economic Downturns: A slowdown in the Indian or global economy can reduce demand from key end-use industries, affecting sales volume and profitability.
Intense Competition: The presence of numerous players, including larger integrated producers and unorganized sector units, can lead to pricing pressure.
Regulatory & Environmental Compliance: Evolving environmental norms for metal processing and manufacturing could necessitate significant capital expenditure or impact operations.
Foreign Exchange Fluctuations: Reliance on imported raw materials or export sales exposes the company to currency risks.
Management & Ownership
Poojawestern Metaliks Ltd. is a promoter-led company, with the Jain family (primarily Mr. Devendra Kumar Jain and Mr. Jitendra Kumar Jain) holding significant ownership and management positions. Mr. Devendra Kumar Jain serves as the Chairman & Managing Director, indicating a hands-on approach from the founding family. Promoter-led companies often benefit from strong operational focus and long-term vision, but their governance structures are important to monitor. The management typically possesses substantial experience within the metal manufacturing industry.
Outlook
Poojawestern Metaliks Ltd. operates in a fundamental industry crucial for India's economic development. The company is well-positioned to benefit from ongoing industrial growth and infrastructure development in India, which will likely fuel demand for its specialized non-ferrous alloys. Its established presence and focus on quality in specific niches provide a foundation for stability. However, the business is inherently susceptible to the volatility of global commodity prices for its raw materials, which can significantly impact profitability. Competition in the non-ferrous metal sector remains robust, potentially leading to margin pressures. While strategic diversification and efficient operations can drive growth, the company's performance will remain closely tied to macroeconomic cycles and the stability of raw material costs.
Price goes above X
Price falls below X
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| #(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 | 16 | 6 | 14 | 15 | 15 | 11 | 16 | 25 | 23 | 17 |
| Other Income | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 |
| Total Income | 17 | 7 | 14 | 15 | 15 | 11 | 17 | 25 | 23 | 17 |
| Total Expenditure | 15 | 6 | 13 | 14 | 14 | 10 | 15 | 23 | 23 | 15 |
| Operating Profit | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 0 | 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 | 0 | 1 | 0 | 1 | 1 | 1 | 1 | -0 | 1 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | -0 | 0 |
| Adjustments | -0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | -0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | -0 | 0 |
| Adjusted Earnings Per Share | 0.4 | 0.3 | 0.4 | 0.4 | 0.5 | 0.5 | 0.8 | 0.4 | -0.2 | 0.4 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 23 | 15 | 21 | 31 | 61 | 50 | 75 | 81 |
| Other Income | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 2 |
| Total Income | 24 | 15 | 21 | 32 | 62 | 51 | 76 | 82 |
| Total Expenditure | 22 | 14 | 19 | 28 | 57 | 47 | 71 | 76 |
| Operating Profit | 2 | 1 | 2 | 4 | 5 | 5 | 5 | 5 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 0 | 1 | 1 | 2 | 2 | 2 | 3 |
| Provision for Tax | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Profit After Tax | 1 | 0 | 1 | 1 | 2 | 2 | 2 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 0 | 1 | 1 | 2 | 2 | 2 | 1 |
| Adjusted Earnings Per Share | 0.8 | 0.2 | 0.8 | 1 | 1.7 | 1.5 | 1.6 | 1.4 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 50% | 34% | 38% | 0% |
| Operating Profit CAGR | 0% | 8% | 38% | 0% |
| PAT CAGR | 0% | 26% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -47% | -24% | -12% | NA% |
| ROE Average | 11% | 12% | 11% | 9% |
| ROCE Average | 11% | 12% | 10% | 9% |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 10 | 10 | 11 | 12 | 13 | 14 | 15 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 4 | 3 | 2 | 1 | 4 |
| Other Non-Current Liabilities | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Total Current Liabilities | 10 | 10 | 10 | 14 | 20 | 25 | 24 |
| Total Liabilities | 21 | 20 | 25 | 29 | 35 | 39 | 42 |
| Fixed Assets | 7 | 6 | 7 | 9 | 9 | 8 | 10 |
| Other Non-Current Assets | 0 | 0 | 3 | 0 | 0 | 0 | 0 |
| Total Current Assets | 13 | 14 | 15 | 19 | 26 | 30 | 32 |
| Total Assets | 21 | 20 | 25 | 29 | 35 | 39 | 42 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | 1 | 1 | 1 | -2 | 1 | 3 |
| Cash Flow from Investing Activities | -1 | -0 | -4 | -1 | -0 | -1 | -3 |
| Cash Flow from Financing Activities | -1 | -1 | 3 | 0 | 3 | -1 | 0 |
| Net Cash Inflow / Outflow | -0 | -0 | -0 | 0 | 0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.76 | 0.24 | 0.76 | 1.05 | 1.72 | 1.53 | 1.57 |
| CEPS(Rs) | 1.34 | 0.79 | 1.27 | 2.17 | 2.8 | 2.54 | 2.8 |
| DPS(Rs) | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Book NAV/Share(Rs) | 9.83 | 10.29 | 11.05 | 12.1 | 12.84 | 13.38 | 14.96 |
| Core EBITDA Margin(%) | 6.42 | 7.84 | 9.16 | 9.97 | 6.75 | 7.1 | 5.06 |
| EBIT Margin(%) | 7.18 | 5.81 | 7.81 | 8.2 | 6.24 | 7.22 | 5.23 |
| Pre Tax Margin(%) | 4.51 | 2.17 | 5.12 | 4.73 | 3.9 | 4.23 | 3.17 |
| PAT Margin (%) | 3.31 | 1.61 | 3.71 | 3.41 | 2.85 | 3.09 | 2.14 |
| Cash Profit Margin (%) | 5.86 | 5.26 | 6.2 | 7.06 | 4.64 | 5.12 | 3.81 |
| ROA(%) | 3.72 | 1.19 | 3.41 | 3.94 | 5.47 | 4.22 | 3.93 |
| ROE(%) | 7.69 | 2.39 | 7.13 | 9.06 | 13.8 | 11.69 | 11.11 |
| ROCE(%) | 8.67 | 4.57 | 7.53 | 10.18 | 13.02 | 10.87 | 10.73 |
| Receivable days | 38.19 | 65.13 | 53.84 | 51.44 | 41.02 | 67.02 | 50.99 |
| Inventory Days | 139.51 | 209 | 162.74 | 115.62 | 74.02 | 115.44 | 80.53 |
| Payable days | 20.38 | 25.94 | 17.08 | 16.19 | 11.35 | 22.4 | 14.64 |
| PER(x) | 33.6 | 109.12 | 51.67 | 27.15 | 22.82 | 17.15 | 13.39 |
| Price/Book(x) | 2.58 | 2.55 | 3.56 | 2.35 | 3.06 | 1.96 | 1.41 |
| Dividend Yield(%) | 0 | 0 | 0 | 3.51 | 2.55 | 3.81 | 0 |
| EV/Net Sales(x) | 1.51 | 2.34 | 2.52 | 1.38 | 0.96 | 0.95 | 0.59 |
| EV/Core EBITDA(x) | 15.48 | 24.69 | 24.42 | 11.61 | 11.95 | 10.23 | 8.58 |
| Net Sales Growth(%) | 0 | -34.51 | 37.38 | 49.72 | 96.67 | -17.83 | 48.05 |
| EBIT Growth(%) | 0 | -47.01 | 84.64 | 57.35 | 49.47 | -4.86 | 7.31 |
| PAT Growth(%) | 0 | -68.24 | 216.8 | 37.93 | 64.04 | -10.95 | 2.75 |
| EPS Growth(%) | 0 | -68.24 | 216.78 | 37.93 | 64.05 | -10.95 | 2.75 |
| Debt/Equity(x) | 0.92 | 0.86 | 1.12 | 1.16 | 1.48 | 1.55 | 1.51 |
| Current Ratio(x) | 1.31 | 1.4 | 1.45 | 1.39 | 1.3 | 1.24 | 1.33 |
| Quick Ratio(x) | 0.45 | 0.52 | 0.49 | 0.69 | 0.54 | 0.55 | 0.65 |
| Interest Cover(x) | 2.69 | 1.6 | 2.9 | 2.36 | 2.67 | 2.41 | 2.54 |
| Total Debt/Mcap(x) | 0.36 | 0.34 | 0.32 | 0.49 | 0.48 | 0.79 | 1.07 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 62.09 | 62.09 | 62.09 | 61.75 | 61.88 | 61.88 | 61.88 | 61.88 | 61.88 | 58.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 37.91 | 37.91 | 37.91 | 38.25 | 38.12 | 38.12 | 38.12 | 38.12 | 38.12 | 41.88 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.59 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.38 | 0.38 | 0.38 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.42 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +50% | +34% | +38% | — |
| Operating Profit CAGR | 0% | +8% | +38% | — |
| PAT CAGR | 0% | +26% | — | — |
| Share Price CAGR | -47% | -24% | -12% | — |
| ROE Average | +11% | +12% | +11% | +9% |
| ROCE Average | +11% | +12% | +10% | +9% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 62.09 | 62.09 | 62.09 | 61.75 | 61.88 | 61.88 | 61.88 | 61.88 | 61.88 | 58.12 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 37.91 | 37.91 | 37.91 | 38.25 | 38.12 | 38.12 | 38.12 | 38.12 | 38.12 | 41.88 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.63 | 0.59 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.38 | 0.38 | 0.38 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.42 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 |
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