WEBSITE BSE:500399 NSE: STEELCO GUJ. Inc. Year: 1989 Industry: Steel & Iron Products My Bucket: Add Stock
Last updated: 10:35
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1. Business Overview
Steelco Gujarat Ltd. operates in the Steel & Iron Products sector in India. The company's core business involves the manufacturing and sale of various steel and iron products. While specific product details are not provided, companies in this industry typically produce long products (like rebar, wire rods, structural steel) or flat products (sheets, plates) used in construction, infrastructure, automotive, and manufacturing sectors. Its business model likely focuses on B2B sales to industrial customers, project developers, and distributors. The company generates revenue by selling these manufactured steel and iron goods.
2. Key Segments / Revenue Mix
Specific details regarding Steelco Gujarat Ltd.'s key business segments or revenue mix are not publicly available within the provided information. For a steel company, typical segmentation might include product types (e.g., billets, rebar, structural steel), end-user industries (e.g., construction, manufacturing), or geographic regions.
3. Industry & Positioning
The Indian Steel & Iron Products industry is a critical component of the country's economic growth, driven by infrastructure development, construction, and manufacturing. It is a capital-intensive and cyclical industry. The market comprises large integrated players (e.g., Tata Steel, JSW Steel, SAIL) and numerous secondary steel producers, often regional. Given its name "Steelco Gujarat Ltd.," the company is likely a regional or a secondary steel producer, potentially with a strong operational presence or customer base within Gujarat and neighboring areas. Its positioning would be as a mid-to-small sized player competing on factors like regional presence, product specialization, cost efficiency, and customer service rather than scale against the integrated giants.
4. Competitive Advantage (Moat)
Without specific details, Steelco Gujarat Ltd. is unlikely to possess a strong, wide moat typical of larger, integrated steel producers (e.g., massive scale, captive raw materials). Its competitive advantages, if any, might stem from:
Regional Presence: Strong distribution network and customer relationships within Gujarat and surrounding areas.
Cost Efficiency: Efficient operations in specific product lines or manufacturing processes.
Niche Focus: Specialization in certain steel products or grades that serve particular customer requirements.
Customer Proximity: Ability to provide timely delivery and customized solutions to local industries.
5. Growth Drivers
Key factors that could drive growth for Steelco Gujarat Ltd. over the next 3-5 years include:
Infrastructure Spending: Government impetus on roads, railways, ports, and urban development in India.
Construction Sector Growth: Recovery and growth in residential, commercial, and industrial construction activities.
Manufacturing Expansion: Growth in industries like automotive, capital goods, and consumer durables, which are significant consumers of steel.
Urbanization: Continued urbanization leading to demand for housing and urban infrastructure.
Rising Per Capita Steel Consumption: India's per capita steel consumption is still below the global average, indicating long-term growth potential.
6. Risks
Commodity Price Volatility: Fluctuations in the prices of key raw materials like iron ore, coking coal, and energy can significantly impact profitability.
Cyclical Demand: The steel industry is highly cyclical, sensitive to economic downturns and slowdowns in key end-user sectors like construction and manufacturing.
Intense Competition: Competition from larger domestic players and potential import competition can put pressure on pricing and margins.
Environmental Regulations: Strict environmental norms and compliance costs can impact operational expenditure and capital outlays.
Capital Intensity: The steel industry requires significant capital investment for expansion, modernization, and maintenance, potentially leading to higher debt.
Interest Rate Fluctuations: High debt levels (common in this industry) make the company sensitive to changes in interest rates.
7. Management & Ownership
Specific information on the promoters, management quality, or detailed ownership structure of Steelco Gujarat Ltd. is not provided. In India, many companies, especially in traditional industries, are promoter-led, meaning the founding family or group maintains significant ownership and management control.
8. Outlook
The outlook for Steelco Gujarat Ltd. is largely tied to the broader Indian economic trajectory and the cyclical nature of the steel industry.
Bull Case: A strong and sustained economic recovery in India, coupled with robust infrastructure spending and growth in manufacturing and construction, would create a favorable demand environment. Efficient operations, regional strengths, and effective cost management could enable the company to capture market share and improve profitability.
Bear Case: A slowdown in the Indian economy, particularly in infrastructure and construction, or a sharp increase in raw material costs that cannot be passed on to customers due to intense competition, could negatively impact demand and margins. Increased import pressure or stricter environmental regulations could also pose significant headwinds.
Overall, Steelco Gujarat Ltd. operates in a fundamental industry with long-term growth potential in India, but its performance will be subject to commodity price volatility, economic cycles, and competitive dynamics. Its success will depend on its ability to manage costs, maintain strong customer relationships, and potentially identify niche market opportunities.
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Market Cap ₹80 Cr.
Stock P/E -3.9
P/B -1
Current Price ₹126.5
Book Value ₹ -124.7
Face Value 10
52W High ₹162.6
Dividend Yield 0%
52W Low ₹ 15
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 0 | 19 | 6 |
| Other Income | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 2 | 0 | 0 | 1 | 1 | 2 | 2 | 0 | 19 | 6 |
| Total Expenditure | 0 | 0 | 1 | 3 | 3 | 3 | 6 | 2 | 24 | 10 |
| Operating Profit | 1 | -0 | -0 | -2 | -2 | -1 | -3 | -2 | -5 | -4 |
| Interest | 0 | 0 | 3 | 0 | 0 | 4 | 3 | 2 | 2 | 4 |
| Depreciation | 0 | 0 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 169 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 2 | -0 | 163 | -3 | -3 | -6 | -8 | -5 | -8 | -9 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 2 | -0 | 163 | -3 | -3 | -6 | -8 | -5 | -8 | -9 |
| Adjustments | 0 | -0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | -0 | 163 | -3 | -3 | -6 | -8 | -5 | -8 | -9 |
| Adjusted Earnings Per Share | 0.4 | -0.1 | 327.7 | -6.4 | -6.6 | -12.8 | -15.5 | -9.4 | -15.9 | -17.5 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 571 | 506 | 531 | 465 | 73 | 0 | 0 | 0 | 0 | 0 | 4 | 27 |
| Other Income | 3 | 3 | 4 | 3 | 1 | 0 | 0 | 0 | 9 | 3 | 1 | 0 |
| Total Income | 574 | 509 | 535 | 467 | 74 | 0 | 0 | 0 | 9 | 4 | 5 | 27 |
| Total Expenditure | 564 | 506 | 537 | 492 | 128 | 0 | 0 | 0 | 3 | 2 | 14 | 42 |
| Operating Profit | 11 | 2 | -2 | -24 | -54 | 0 | 0 | 0 | 7 | 2 | -9 | -14 |
| Interest | 21 | 21 | 26 | 23 | 26 | 0 | 0 | 0 | 12 | 3 | 7 | 11 |
| Depreciation | 3 | 3 | 10 | 7 | 6 | 0 | 0 | 0 | 4 | 3 | 4 | 4 |
| Exceptional Income / Expenses | 11 | 22 | 0 | -3 | -11 | 0 | 0 | 0 | 0 | 170 | 0 | 0 |
| Profit Before Tax | -3 | 1 | -37 | -57 | -97 | 0 | 0 | 0 | -8 | 165 | -21 | -30 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -3 | 1 | -37 | -57 | -97 | 0 | 0 | 0 | -8 | 165 | -21 | -30 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -3 | 1 | -37 | -57 | -97 | 0 | 0 | 0 | -8 | 165 | -21 | -30 |
| Adjusted Earnings Per Share | -0.7 | 0.2 | -8.8 | -13.4 | -22.9 | 0 | 0 | 0 | -2 | 333.1 | -41.4 | -58.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | -39% |
| Operating Profit CAGR | -550% | 0% | 0% | NAN% |
| PAT CAGR | -113% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | 298% | 135% | 39% |
| ROE Average | 0% | 0% | 0% | 0% |
| ROCE Average | -24% | 600% | 360% | 120% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 1 | 2 | -120 | -186 | -284 | 0 | 0 | 0 | -107 | 61 | 40 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 37 | 31 | 49 | 47 | 43 | 0 | 0 | 0 | 47 | 82 | 91 |
| Other Non-Current Liabilities | 4 | 4 | 3 | 4 | 4 | 0 | 0 | 0 | 5 | 0 | 0 |
| Total Current Liabilities | 199 | 238 | 369 | 367 | 397 | 0 | 0 | 0 | 284 | 18 | 31 |
| Total Liabilities | 240 | 274 | 301 | 231 | 160 | 0 | 0 | 0 | 229 | 161 | 163 |
| Fixed Assets | 49 | 47 | 52 | 62 | 59 | 0 | 0 | 0 | 129 | 136 | 133 |
| Other Non-Current Assets | 15 | 16 | 23 | 13 | 8 | 0 | 0 | 0 | 5 | 1 | 5 |
| Total Current Assets | 176 | 211 | 226 | 156 | 93 | 0 | 0 | 0 | 95 | 24 | 25 |
| Total Assets | 240 | 274 | 301 | 231 | 160 | 0 | 0 | 0 | 229 | 161 | 163 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 9 | 10 | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 43 | 10 | -30 | 46 | -5 | 0 | 0 | 0 | 0 | 44 | 5 |
| Cash Flow from Investing Activities | -2 | 14 | 1 | -16 | 2 | 0 | 0 | 0 | 0 | -8 | -1 |
| Cash Flow from Financing Activities | -41 | -21 | 29 | -31 | 3 | 0 | 0 | 0 | -1 | -36 | -4 |
| Net Cash Inflow / Outflow | 1 | 3 | -1 | -1 | -0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Closing Cash & Cash Equivalent | 10 | 13 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.74 | 0.23 | -8.78 | -13.41 | -22.89 | 0 | 0 | 0 | -1.97 | 333.08 | -41.36 |
| CEPS(Rs) | -0.03 | 0.83 | -6.5 | -11.72 | -21.44 | 0 | 0 | 0 | -1.15 | 339.77 | -33.2 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -8.4 | -8.17 | -28.14 | -43.67 | -66.63 | 0 | 0 | 0 | -44.61 | -42.42 | -81.95 |
| Core EBITDA Margin(%) | 1.21 | -0.07 | -1.07 | -5.69 | -76.69 | 0 | 0 | 0 | 0 | -434.13 | -236.51 |
| EBIT Margin(%) | 3.03 | 4.13 | -2.15 | -7.27 | -97.77 | 0 | 0 | 0 | 0 | 0 | -315.19 |
| Pre Tax Margin(%) | -0.52 | 0.19 | -6.8 | -12.06 | -134.23 | 0 | 0 | 0 | 0 | 0 | -491.65 |
| PAT Margin (%) | -0.52 | 0.19 | -6.8 | -12.06 | -134.23 | 0 | 0 | 0 | 0 | 0 | -491.65 |
| Cash Profit Margin (%) | -0.02 | 0.66 | -5.03 | -10.54 | -125.76 | 0 | 0 | 0 | 0 | 0 | -394.74 |
| ROA(%) | -1.06 | 0.38 | -12.99 | -21.43 | -49.77 | 0 | 0 | 0 | -4.32 | 84.91 | -12.69 |
| ROE(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | 17.03 | 22.72 | -15.93 | -506.15 | 0 | 0 | 0 | 0 | 0 | 1822.42 | -23.57 |
| Receivable days | 40.5 | 51.05 | 66.18 | 76.37 | 398.95 | 0 | 0 | 0 | 0 | 0 | 332.84 |
| Inventory Days | 50.79 | 52.72 | 53.89 | 46.05 | 119.23 | 0 | 0 | 0 | 0 | 0 | 990.75 |
| Payable days | 37.2 | 50.77 | 92.62 | 137.48 | 1079.83 | 0 | 0 | 0 | 0 | 0 | 3445.36 |
| PER(x) | 0 | 17.56 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | -0.61 | -0.5 | -0.28 | -0.16 | -0.06 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.25 | 0.27 | 0.37 | 0.37 | 1.93 | 0 | 0 | 0 | 0 | 282.4 | 22.51 |
| EV/Core EBITDA(x) | 13.61 | 59.79 | -92.88 | -7.08 | -2.59 | 0 | 0 | 0 | 27.34 | 43.7 | -10.31 |
| Net Sales Growth(%) | 7.29 | -11.39 | 4.99 | -12.52 | -84.38 | -100 | 0 | 0 | -100 | 0 | 1255.39 |
| EBIT Growth(%) | 14.71 | 20.15 | -153.96 | -190.67 | -106.15 | 100 | 0 | 0 | 104.69 | 4969.2 | -107.81 |
| PAT Growth(%) | 15.7 | 131.48 | -3888.07 | -52.73 | -70.71 | 100 | 0 | 0 | 91.38 | 2068.7 | -112.42 |
| EPS Growth(%) | 15.7 | 131.48 | -3888.07 | -52.73 | -70.71 | 100 | 0 | 0 | 91.38 | 0 | -112.42 |
| Debt/Equity(x) | 172.47 | 62.03 | -1.43 | -0.8 | -0.44 | 0 | 0 | 0 | -0.78 | -3.9 | -2.24 |
| Current Ratio(x) | 0.88 | 0.89 | 0.61 | 0.42 | 0.23 | 0 | 0 | 0 | 0.33 | 1.3 | 0.82 |
| Quick Ratio(x) | 0.49 | 0.57 | 0.37 | 0.34 | 0.19 | 0 | 0 | 0 | 0.29 | 0.66 | 0.46 |
| Interest Cover(x) | 0.85 | 1.05 | -0.46 | -1.52 | -2.68 | 0 | 0 | 0 | 0.28 | 53.81 | -1.79 |
| Total Debt/Mcap(x) | 4.4 | 5.52 | 5.19 | 5.02 | 7.69 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Sep 2019 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 75 | 75 | 94.64 | 94.64 | 94.64 | 94.64 | 94.64 | 94.64 | 94.64 | 94.64 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.06 | 0.06 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 24.94 | 24.94 | 5.34 | 5.34 | 5.34 | 5.34 | 5.34 | 5.34 | 5.35 | 5.35 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2019 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 3.19 | 3.19 | 0.47 | 0.47 | 0.47 | 0.47 | 0.47 | 0.47 | 0.47 | 0.47 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.06 | 1.06 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.26 | 4.26 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 | 0.5 |
* The pros and cons are machine generated.
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