Shah Alloys Limited

NSE: SHAHALLOYS · Unclassified

₹69.01-2.78%06 Nov 2026

Ask the data

Instant answers about Shah Alloys Limited — computed from its filings, no language model

Market cap₹137 cr

Current price₹69.01

High / Low₹113 / ₹57

P/E3.1

P/B1.22

Book value₹56.7

ROE39.0%

ROCE37.9%

Debt / equity0.56

Dividend yield—

EPS (TTM)₹22.11

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY19	FY20	FY21	FY22	FY23	FY25	FY26
Revenue	570.0	489.3	501.9	880.1	626.3	266.5	37.3
EBITDA	0.8	-55.7	16.2	116.8	4.0	-10.2	5.0
Operating margin	0.1%	-11.4%	3.2%	13.3%	0.6%	-3.8%	13.4%
Interest	0.1	0.5	1.6	2.2	2.6	4.5	3.6
Depreciation	13.0	13.0	13.0	11.3	8.9	9.2	6.6
Profit before tax	-5.7	23.8	46.6	130.1	-5.8	-23.1	132.6
Tax	-13.2	28.5	98.3	27.2	-1.3	-5.7	24.8
Net profit	14.3	5.2	-47.5	82.1	-3.2	-19.7	107.7
EPS ₹	3.80	-2.35	-26.08	41.47	-1.63	-9.96	54.42
Operating cash flow	—	—	—	67.9	44.5	-4.5	-71.0
Capex	—	—	—	0.0	0.0	0.2	-0.6
Dividend paid	—	—	—	0.0	0.0	0.0	0.0
Total assets	—	—	—	—	300.9	194.7	207.6
Equity	—	—	—	—	30.5	-7.7	112.4

Quarterly performance

last 29 quarters · ₹ crore

showing latest 8 of 29 periods

	MAR '17	MAR '18	MAR '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26
Revenue	87.2	137.0	184.1	119.8	110.4	117.6	33.2	110.3	174.7	183.8	190.8	212.6	219.3	257.4	187.4	133.2	153.7	152.0	142.0	179.7	142.8	118.5	66.3	51.9	29.8	23.6	3.0	10.3	0.4
Operating profit	2.8	2.2	1.2	-7.9	-46.4	3.9	0.8	0.6	5.2	6.1	5.6	45.3	30.5	28.3	-0.7	4.6	3.1	-7.1	-13.6	2.8	-8.8	-5.5	-5.1	0.8	-0.4	-0.4	-0.9	7.3	-1.0
Operating margin	3.2%	1.6%	0.7%	-6.6%	-42.0%	3.3%	2.3%	0.5%	3.0%	3.3%	3.0%	21.3%	13.9%	11.0%	-0.4%	3.4%	2.0%	-4.7%	-9.5%	1.6%	-6.2%	-4.7%	-7.7%	1.5%	-1.3%	-1.7%	-29.4%	70.7%	-268.4%
Other income	0.3	0.2	3.6	0.2	0.2	0.3	0.5	0.4	4.5	23.7	11.6	14.2	7.5	0.5	0.1	0.0	0.0	1.6	17.6	0.9	1.9	0.0	0.1	0.1	0.6	0.0	0.0	0.3	1.9
Interest	3.3	0.1	0.1	0.2	0.1	0.1	0.9	0.0	0.6	0.0	0.0	0.8	0.8	0.6	0.8	0.3	0.5	1.0	1.1	1.1	1.0	1.1	1.1	1.1	1.1	1.1	1.1	1.0	0.4
Depreciation	3.3	3.4	3.2	3.2	3.2	3.2	3.2	3.2	3.2	3.2	2.8	2.8	2.8	2.8	2.2	2.2	2.2	2.2	2.2	2.2	2.2	2.3	2.3	2.3	2.3	1.6	1.6	1.7	1.6
Profit before tax	70.8	98.0	1.4	-11.1	42.5	0.8	-2.9	-5.7	5.8	42.7	14.4	55.9	34.4	25.4	-3.6	2.0	0.4	-8.7	0.8	0.4	-25.9	-8.9	-8.4	-2.5	-3.2	-3.1	13.3	59.2	-6.6
Tax	17.7	46.3	8.9	-5.5	39.8	5.2	-1.0	-0.8	30.5	69.5	1.4	11.3	10.7	3.8	0.1	0.5	0.1	-2.1	0.1	0.1	-2.6	-2.2	-2.0	-0.6	-0.8	-0.8	0.9	23.1	1.6
Net profit	46.5	49.9	-2.4	-5.7	2.7	-2.2	-8.6	-1.5	-20.3	-23.3	3.7	33.5	16.3	28.6	0.3	2.5	0.3	-6.4	0.7	0.3	0.0	-6.7	-6.4	0.0	-4.5	0.0	13.7	38.5	-8.4
EPS ₹	26.84	26.15	-3.76	-2.86	-2.86	-2.25	-0.96	-2.45	-12.49	-13.55	1.86	16.93	8.21	14.46	0.17	1.26	0.15	-3.21	0.36	0.18	-12.18	-3.38	-3.23	-1.09	-2.27	-2.91	6.93	19.42	-4.25
Revenue YoY	—	57.0%	34.4%	—	—	-36.1%	—	-8.0%	58.3%	56.3%	475.2%	92.8%	25.5%	40.1%	-1.8%	-37.3%	-29.9%	-40.9%	-24.2%	34.9%	-7.0%	-16.5%	-63.1%	-63.7%	—	-80.1%	-95.5%	-80.2%	-98.7%
Profit YoY	—	7.3%	-104.8%	—	—	—	—	—	-856.1%	—	—	—	—	—	-90.8%	-92.6%	-98.1%	-122.2%	105.9%	-85.9%	-100.0%	-1055.7%	-1922.9%	—	—	—	—	—	—

Earlier results (standalone, Sep '07 – Dec '16)

₹ crore · from BSE, before the NSE XBRL filings begin

Shah Alloys Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†
Revenue	762.6	780.6	753.9	761.0	588.3	423.0	272.7	270.1
Operating profit	-55.4	12.1	-65.1	-108.4	-46.3	-63.5	-35.1	-17.6
Operating margin	-7.3%	1.6%	-8.6%	-14.2%	-7.9%	-15.0%	-12.9%	-6.5%
Other income	-10.4	9.7	0.5	—	—	—	—	1.1
Interest	63.6	73.1	87.2	92.2	92.4	93.5	69.6	23.1
Depreciation	34.7	33.6	32.3	31.7	30.6	29.9	39.4	18.2
Profit before tax	-164.1	-85.0	-184.1	-239.8	-169.0	-186.6	-144.0	190.4
Tax	-55.6	-24.6	-54.4	-78.5	-68.3	-58.0	-8.8	66.1
Net profit	-108.5	-60.3	-129.7	-161.4	-100.7	-128.6	-135.2	124.4

Quarters

showing latest 8 of 38 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†
Revenue	191.1	237.4	193.4	215.8	231.2	160.9	154.7	186.6	191.1	200.2	202.7	172.5	178.4	196.4	206.6	206.2	176.7	186.9	191.1	140.4	144.3	164.8	138.8	127.3	111.8	79.2	104.8	76.9	65.1	59.9	70.9	86.1	47.7	62.2	74.0	83.5	70.1	80.1
Operating profit	-75.8	-19.4	3.5	-14.8	-7.6	-16.9	-16.1	9.0	14.4	1.8	-13.1	-18.9	-19.4	-6.7	-20.2	-12.2	-27.7	-47.0	-21.5	-25.6	-5.8	-0.6	-14.3	-8.6	-11.9	-23.6	-19.4	-12.8	-3.9	-16.3	-2.0	-1.9	-7.0	-7.7	-0.9	-3.6	-2.5	3.2
Operating margin	-39.6%	-8.2%	1.8%	-6.8%	-3.3%	-10.5%	-10.4%	4.8%	7.5%	0.9%	-6.5%	-10.9%	-10.9%	-3.4%	-9.8%	-5.9%	-15.7%	-25.1%	-11.2%	-18.3%	-4.0%	-0.4%	-10.3%	-6.7%	-10.7%	-29.9%	-18.5%	-16.6%	-6.0%	-27.2%	-2.9%	-2.2%	-14.8%	-12.4%	-1.3%	-4.3%	-3.5%	4.0%
Other income	2.4	1.2	-2.6	0.7	-5.0	-2.4	-3.7	5.0	-0.4	2.3	2.9	-1.9	1.7	0.3	0.4	0.0	-3.7	-3.7	—	0.2	—	0.1	0.1	0.1	—	0.1	0.2	—	0.1	—	0.0	0.6	0.4	0.0	0.1	0.2	0.1	0.1
Interest	14.2	14.2	16.6	16.1	14.9	15.5	17.1	15.9	18.2	19.5	19.5	18.5	24.3	22.9	21.5	22.9	23.2	23.0	23.1	23.2	23.3	23.4	22.5	22.9	23.2	26.4	21.0	18.6	18.9	18.1	14.0	6.1	5.7	5.7	5.7	3.9	3.9	3.3
Depreciation	8.5	8.5	8.4	8.4	8.7	8.4	9.2	8.4	8.4	8.4	8.5	8.1	8.1	8.1	8.1	7.9	7.9	8.0	7.9	7.7	7.6	7.7	7.7	7.5	7.5	7.5	7.5	11.0	11.0	10.9	6.5	4.5	4.5	4.5	4.5	3.5	3.5	3.5
Profit before tax	-96.0	-40.9	-24.2	-38.6	-36.2	-43.3	-46.0	-10.4	-12.6	-23.8	-38.2	-47.2	-50.1	-37.3	-49.4	-43.0	-62.6	-81.7	-52.5	-56.3	-36.8	-31.6	-44.3	-38.8	-42.7	-57.5	-47.6	-42.3	-33.7	-45.3	-22.6	-15.6	230.4	-13.3	-11.1	-10.7	-9.7	-3.5
Tax	2.4	-13.6	-7.3	-5.7	-3.1	-21.9	-24.9	-3.2	-4.1	-7.6	-9.7	-15.5	-16.7	-11.6	-10.6	-13.9	-20.9	-26.8	-16.9	-18.2	-11.8	-10.1	-28.1	-13.2	-14.5	-15.9	-14.4	-15.1	-12.1	-15.5	33.9	-4.0	78.3	-6.1	-2.1	-3.9	-3.0	-0.6
Net profit	-98.4	-27.2	-16.8	-32.9	-33.1	-21.3	-21.1	-7.2	-8.5	-16.2	-28.4	-31.7	-33.4	-25.6	-38.9	-29.2	-41.7	-54.9	-35.6	-38.1	-24.9	-21.5	-16.2	-25.6	-28.2	-41.5	-33.2	-27.2	-21.6	-29.9	-56.5	-11.6	152.1	-7.2	-9.0	-6.8	-6.7	-2.9
EPS ₹	-49.71	-13.76	-8.50	-16.59	-16.74	-10.78	-10.67	-3.64	-4.29	-8.18	-14.36	-16.04	-16.87	-12.96	-19.64	-14.73	-17.10	-31.69	-17.98	-19.23	-12.58	-10.85	-8.19	-12.96	-14.22	-20.99	-16.78	-13.76	-10.90	-15.08	-28.54	-5.85	76.83	-3.62	-4.54	-3.42	-3.39	-1.46
Revenue YoY	—	—	—	—	21.0%	-32.2%	-20.0%	-13.5%	-17.3%	24.5%	31.0%	-7.5%	-6.7%	-1.9%	1.9%	19.5%	-0.9%	-4.8%	-7.5%	-31.9%	-18.4%	-11.8%	-27.4%	-9.3%	-22.5%	-52.0%	-24.5%	-39.6%	-41.7%	-24.4%	-32.4%	12.0%	-26.7%	3.8%	4.5%	-3.1%	46.9%	28.9%
Profit YoY	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-104.4%	—

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 20 periods

	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26
ROE	—	—	—	—	—	—	—	—	—	133.0%	88.5%	-10.6%	-9.4%	-15.7%	-16.7%	—	—	—	—	39.0%
ROCE	—	—	—	—	—	—	—	—	—	40.3%	17.5%	-7.0%	-2.5%	-3.4%	-28.5%	-26.2%	-18.1%	12.8%	102.1%	37.9%
Net margin	-3.6%	-2.6%	-7.5%	-10.7%	-6.3%	-0.8%	3.7%	9.3%	9.0%	6.0%	4.3%	-0.5%	-0.5%	-0.8%	-0.9%	-6.6%	-6.3%	8.5%	71.6%	117.5%
EBITDA margin	-13.0%	-11.1%	2.4%	2.5%	2.7%	8.2%	10.9%	12.5%	11.8%	7.9%	4.8%	-0.0%	-2.2%	-2.3%	-4.3%	-3.8%	-3.0%	-0.8%	8.4%	13.4%
Debt / equity	—	—	—	—	—	—	—	—	—	3.19	3.19	2.42	2.42	2.21	2.21	—	—	—	—	0.56
Interest coverage	24.34	31.95	-0.16	25.53	79.49	79.18	90.36	60.42	39.52	24.95	12.08	-2.83	-0.91	-0.98	-7.08	-4.16	-2.91	2.02	16.44	18.41
Asset turnover	—	—	—	—	—	—	—	—	—	2.79	2.56	2.08	1.93	2.24	2.20	1.37	0.88	0.57	0.35	0.18

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 7 periods

	SEP '22	MAR '23	SEP '23	SEP '24	MAR '25	SEP '25	MAR '26
Share capital	19.8	19.8	19.8	19.8	19.8	19.8	19.8
Other equity / reserves	16.1	10.7	12.1	-21.9	-27.5	-30.1	92.6
Total equity	35.9	30.5	31.9	-2.1	-7.7	-10.3	112.4
Borrowings	114.6	73.7	70.7	80.7	78.9	79.4	63.0
Current liabilities	221.9	249.4	242.8	230.7	195.8	194.4	89.8
Non-current liabilities	28.4	21.0	6.0	7.4	6.5	5.7	5.5
Total assets	286.1	300.9	280.6	236.0	194.7	189.8	207.6
Property, plant & equipment	77.5	73.0	68.5	62.6	57.1	53.7	50.5
Capital work-in-progress	9.0	9.0	9.0	9.0	9.0	9.0	0.0
Investments	0.0	0.0	7.0	0.0	0.0	0.0	0.0
Inventories	83.1	108.8	98.5	63.9	30.1	21.8	19.4
Receivables	5.2	15.0	11.9	2.0	1.2	0.6	1.1
Cash & equivalents	5.3	0.2	0.2	0.2	2.6	0.2	1.1

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY25	FY26
Cash from operations	67.9	44.5	-4.5	-71.0
Cash from investing	0.3	0.3	1.3	89.0
Cash from financing	-69.6	-44.8	5.6	-19.5
Capex	0.0	0.0	0.2	-0.6
Free cash flow	67.9	44.5	-4.7	-70.4
Dividends paid	0.0	0.0	0.0	0.0

Where the assets sit

Mar '26 · ₹ crore

Fixed assets (PPE)

₹50.5 cr24%

Inventories

₹19.4 cr9%

Receivables

₹1.1 cr1%

Cash & equivalents

₹1.1 cr1%

Other assets

₹135.6 cr65%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
Shah Alloys Limited	137	69.01	3.1	1.22	39.0%

StoxGud checklist: Neutral setup · 5/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-14.3%

6 months-4.5%

1 year-7.0%

3Y CAGR+8.9%

5Y CAGR+20.2%

10Y CAGR+19.2%

50-day avg₹84.89

200-day avg₹71.91

RSI (14)36

FAQs

What is the share price of Shah Alloys Limited?

Shah Alloys Limited (SHAHALLOYS) closed at ₹69.01 on NSE on 06 Nov 2026.

What is the market cap of Shah Alloys Limited?

₹137 crore at the latest close.

What is the P/E ratio of Shah Alloys Limited?

3.1, on trailing-twelve-month earnings from its filings.

How fast is Shah Alloys Limited growing?

Shah Alloys Limited: revenue has compounded at -65.1% a year over three years; net profit at 9.5% a year. Latest-quarter revenue is down 98.7% year on year.

How profitable is Shah Alloys Limited?

On a trailing-twelve-month basis return on equity is 39.0%, return on capital employed 37.9%, operating margin 13.4%, net margin 117.5%.

How much debt does Shah Alloys Limited have?

Shah Alloys Limited is moderately geared: debt to equity is 0.56 with borrowings of ₹63 cr against cash of ₹1 cr (balance sheet of 2026-03-31). Operating profit covers interest 18.4 times.

Financials parsed from Shah Alloys Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '17, annual from FY19, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.