Shah Alloys Limited

NSE: SHAHALLOYS · Iron & Steel Products · sector

₹65.85NSE close 2026-10-26

Key numbers

Market cap₹130 cr

Price₹65.85

52w high / low₹117 / ₹53

P/E1.7xSector median 15.5x

P/B1.2xSector median 1.7x

Book value₹56.8

Dividend yield–Sector median 0.60%

ROE100.3%Sector median 11.1%

ROCE58.5%Sector median 11.9%

OPM607.2%Sector median 6.7%

Debt / equity0.56xSector median 0.21x

EV/EBITDA2.3xSector median 11.8x

Interest cover29.7x

Current ratio0.50x

Sales growth 3y-65.1%Sector median +2.1%

Profit growth 3y-11.0%Sector median +13.0%

PEG–

Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹1 cr vs borrowings ₹63 cr (FY26): borrowings are higher by ₹62 cr.
Operating profit covered interest 29.7x in the last 12 months.
No promoter shares are pledged.
Operating cash flow was below net profit in 2 of the last 4 years (FY26, FY22).
Net loss in 4 of the last 8 quarters.
Revenue was higher than a year earlier in 0 of the last 4 quarters.
Other income was 34% of net profit in the last 12 months.
No dividend in the last 5 financial years.
Price ₹65.85 on 2026-10-26: -43.6% from the 52-week high, +24.0% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹112.46 · low ₹44.80

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	66	52	30	24	3	10	0	0
EBITDA	-5	-13	-17	-1	16	62	6	-1
OPM %	-7.7%	-24.2%	-58.4%	-3.9%	542.2%	599.0%	1,634.2%	–
Other income	22	0	1	0	23	0	2	0
Net profit	15	-15	-19	-3	36	38	4	-2
EPS (₹)	7.75	-7.70	-9.78	-1.43	18.07	19.42	2.25	-1.05
Revenue YoY					-95.5%	-80.2%	-98.7%	-100.0%
Profit YoY					+133.1%	–	–	–

Standalone figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY21	FY22	FY23	FY25	FY26	TTM
Revenue	502	880	626	267	37	14
EBITDA	32	117	4	-20	97	83
Net profit	-47	103	7	-27	73	77
EPS (₹)	-26.08	51.96	3.37	-13.79	36.67	38.69
Revenue growth		+75.3%	-28.8%	-57.4%	-86.0%	-92.1%
Profit growth		–	-93.5%	-509.1%	–	–
Dividend / share (₹)	–	–	–	–	–

Compounded growth	3 years	5 years	Last 12 months
Sales	-65.1%	–	-92.1%
Net profit	-11.0%	–	–
EPS	-11.0%	–	–
Share price	–	+0.9% (2y)	+5.8%

Balance sheet

₹ cr	FY22	FY23	FY25	FY26
Shareholders' equity	–	65	40	112
Borrowings	–	74	79	63
Cash & equivalents	–	0	3	1
Total assets	–	335	243	208
Fixed assets	–	73	57	50
Capital work in progress	–	9	9	0
Investments	–	0	0	0
Receivables	–	15	1	1
Inventory	–	109	30	19
Payables	–	124	76	1

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY22	FY23	FY25	FY26
Cash from operations	68	44	-4	-71
Cash from investing	0	0	1	89
Cash from financing	-70	-45	6	-20
Capex	0	0	0	1
Free cash flow	68	44	-5	-72

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY22	FY23	FY25	FY26
ROE %	–	10.3%	-67.7%	64.6%
ROCE %	–	5.7%	-23.9%	57.6%
Debtor days	–	9	2	11
Inventory days	–	90	57	381
Payable days	–	103	143	25
Cash conversion cycle (days)	–	-4	-84	367
Working capital days	–	-69	-220	-442

Shareholding

Holder	% (2026-09-30)
Promoters	53.75%
FIIs	0.00%
Public (non-institutions)	46.25%

Quarter	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	53.78%	53.78%	53.78%	53.75%	53.75%	53.75%	53.75%	53.75%

Promoter group	%
Rajendrabhai V Shah	39.97%
Rajendrabhai V Shah	7.74%
Ragini Rajendrabhai Shah	5.79%
Ashvin V Shah	0.17%
Shah Jayeshkumar Vijaykumar	0.08%
Karan R Shah	0.00%
Prakash V Shah	0.00%

Public holders above 1%	%
Raviraj Developers Limited	3.16%
Anand Mohan	2.49%
Krone Finstock PVT Ltd	1.94%
Mansi Share & Stock Broking Private Limited	1.39%

9,404 shareholders. Pledged: 0.00% of promoter shares.

Peers in Iron & Steel Products

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
WELCORP	₹61,798 cr	26.7x	6.8x	27.8%	19.2%	13.9%	+19.8%	0.21%
APLAPOLLO	₹57,703 cr	46.9x	10.9x	25.9%	30.1%	8.0%	+12.6%	0.28%
SHYAMMETL	₹31,351 cr	28.0x	2.7x	7.8%	14.2%	12.9%	+13.7%	0.36%
RATNAMANI	₹16,345 cr	37.8x	4.0x	11.2%	15.7%	16.7%	+0.1%	0.60%
JINDALSAW	₹14,824 cr	26.9x	1.2x	4.4%	7.2%	9.5%	+0.1%	0.86%
USHAMART	₹14,192 cr	27.9x	4.3x	16.8%	20.1%	19.6%	+4.1%	0.64%
GALLANTT	₹12,989 cr	31.9x	3.7x	12.4%	14.2%	13.8%	+3.1%	0.08%
GPIL	₹11,769 cr	14.6x	2.0x	15.1%	18.7%	21.4%	-2.2%	0.54%
JAYNECOIND	₹8,607 cr	12.5x	2.6x	23.4%	25.6%	18.9%	+4.0%	–
SHAHALLOYS	₹130 cr	1.7x	1.2x	100.3%	58.5%	607.2%	-65.1%	–

All 118 companies in Iron & Steel Products →

Dividends & corporate actions

Ex-date	Action	Detail
2022-09-08	Other	Annual General Meeting
2022-04-29	Other	Extra Ordinary General Meeting
2021-09-13	Other	Annual General Meeting
2020-12-09	Other	Annual General Meeting
2019-09-11	Other	Annual General Meeting
2018-09-11	Other	Annual General Meeting (Date Revised)
2017-09-20	Other	Annual General Meeting
2016-09-14	Other	Annual General Meeting
2015-09-14	Other	Annual General Meeting
2014-09-15	Other	Annual General Meeting
2013-09-13	Other	Annual General Meeting
2012-09-13	Other	Annual General Meeting
2011-09-15	Other	Annual General Meeting
2010-09-08	Other	Annual General Meeting
2009-09-08	Other	Annual General Meeting
2008-09-08	Other	Annual General Meeting
2007-09-06	Dividend	Agm/Dividend-10%
2006-09-15	Dividend	Agm/Dividend-10%
2005-09-08	Dividend	Agm/Dividend-10%

Documents

Links go to the original files on the exchange website.

About the company


Sector	Industrials
Industry	Iron & Steel Products
Sub-industry	Iron & Steel Products
Symbol	SHAHALLOYS
BSE code	513436
ISIN	INE640C01011
Face value	₹10.0
Incorporated	–
Website	–
Plants (India / abroad)	–

Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.