Ashoka Metcast Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Steel Trading: 98.1% • Trading of Goods: 1.9%
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Latest quarter profit grew 187.2% YoY, showing strong momentum
- Operating margins have improved to 23.4% from 10.3%
- Company has consistently been profitable over the last 5 years
- Company comfortably covers its interest (10.8x coverage)
- Stock looks reasonably valued - P/E of 2.6 is below its historical median
- Attractively priced for its growth - PEG of 0.1
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (69.5% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 7.7%
- Company has a low return on equity of 6.4% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.36x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 2936.00 | 53.39 | 397452.96 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| PREMIERENE | 998.00 | 27.21 | 45304.36 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| AEGISLOG | 1270.55 | 35.64 | 44596.31 | 0.68 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3705.90 | 91.86 | 43840.96 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| REDINGTON | 371.40 | 17.07 | 29035.10 | 1.62 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.75 | 61.67 | 15347.59 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 8.99 | 14.58 |
| LLOYDSENT | 74.20 | 100.87 | 11327.02 | 0.20 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 826.10 | 83.74 | 10411.77 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 64.18 | 21.52 | 9627.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1827.20 | 63.41 | 7952.54 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| CELLO | 342.50 | 24.69 | 7724.69 | 0.44 | 73.40 | -8.99 | 526.72 | -0.43 | 17.15 | 18.80 |
| ASHOKAMET | 13.50 | 2.61 | 33.74 | 0.00 | 3.23 | 187.21 | 4.07 | -25.30 | 10.02 | -18.05 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14 | 6 | 7 | 39 | 11 | 14 | 7 | 6 | 5 | 5 | 7 | 10 | 4 | |
| 13 | 6 | 6 | 34 | 10 | 10 | 5 | 10 | 5 | 4 | 4 | 8 | 5 | |
| Operating Profit | 1 | 0 | 0 | 5 | 1 | 4 | 2 | -3 | 1 | 1 | 2 | 2 | -1 |
| OPM % | 8.51% | 3.72% | 6.69% | 13.00% | 7.90% | 26.87% | 31.54% | -48.84% | 9.36% | 21.31% | 36.47% | 23.29% | -30.61% |
| 0 | 0 | 0 | 1 | 1 | 1 | 1 | 4 | 1 | 3 | 3 | 3 | 5 | |
| Interest | 0 | -0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 1 | 0 | 0 | 5 | 2 | 4 | 2 | 0 | 1 | 3 | 5 | 4 | 3 |
| Tax % | 11.11% | 7.41% | 5.56% | 30.74% | 16.39% | 9.82% | 12.68% | -145.45% | 0.00% | 5.13% | 12.48% | 50.34% | 4.40% |
| Net Profit | 0 | 0 | 0 | 0 | 2 | 3 | 2 | 1 | 1 | 3 | 4 | 2 | 3 |
| 0.28 | 0.14 | 0.15 | 1.43 | 0.61 | 1.39 | 0.72 | 0.22 | 0.45 | 1.18 | 1.80 | 2.62 | 1.29 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19 | 0 | 22 | 54 | 67 | 50 | 66 | 39 | 28 | 26 | |
| 19 | 0 | 21 | 53 | 63 | 46 | 59 | 35 | 21 | 22 | |
| Operating Profit | -0 | -0 | 1 | 2 | 4 | 4 | 7 | 4 | 6 | 5 |
| OPM % | -0.54% | — | 2.71% | 2.97% | 6.52% | 8.84% | 10.61% | 9.62% | 23.39% | 17.91% |
| -0 | 0 | 0 | 0 | 0 | 1 | 2 | 5 | 10 | 13 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Profit before Tax | -0 | -0 | 0 | 0 | 3 | 4 | 6 | 6 | 14 | 16 |
| Tax % | 2.50% | -4.17% | 26.24% | 25.82% | 19.02% | 24.02% | 26.13% | 10.19% | 21.96% | 19.87% |
| Net Profit | -0 | -0 | 0 | 0 | 2 | 3 | 5 | 5 | 11 | 13 |
| EPS | 0.00 | 0.00 | 0.02 | 0.14 | 0.84 | 1.29 | 1.92 | 2.94 | 6.05 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- -13%
- 3 Years:
- -18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 150%
- 3 Years:
- 67%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -9%
- 1 Year:
- -17%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 6%
- 3 Years:
- 6%
- Last Year:
- 9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 18 | 25 | 25 | 25 | 25 |
| Minority Interest | 0 | 0 | 0 | 0 | 3 | 5 | 7 | 7 | 12 |
| 10 | 10 | 10 | 10 | 17 | 76 | 80 | 86 | 97 | |
| 8 | 8 | 17 | 24 | 21 | 16 | 17 | 16 | 59 | |
| Trade Payables | 0 | 0 | 5 | 4 | 5 | 6 | 5 | 5 | 7 |
| 0 | 0 | 1 | 3 | 10 | 5 | 5 | 3 | 9 | |
| Total Liabilities | 30 | 29 | 44 | 51 | 74 | 133 | 138 | 143 | 208 |
| 5 | 5 | 12 | 11 | 8 | 9 | 17 | 17 | 16 | |
| Capital Work in Progress | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 2 | 6 |
| 13 | 5 | 5 | 5 | 5 | 5 | 10 | 11 | 10 | |
| 0 | 0 | 8 | 12 | 24 | 32 | 34 | 40 | 51 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 26 | 26 | 28 | |
| Cash & Bank | 0 | 1 | 0 | 0 | 0 | 1 | 2 | 1 | 2 |
| 11 | 12 | 18 | 22 | 36 | 86 | 48 | 47 | 96 | |
| Total Assets | 30 | 29 | 44 | 51 | 74 | 133 | 138 | 143 | 208 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | -2 | -10 | -8 | -15 | -46 | 16 | -6 | -17 | |
| Cash from Investing | 0 | 3 | -0 | -0 | -4 | -5 | -13 | 0 | 1 |
| Cash from Financing | 0 | -1 | 10 | 8 | 18 | 53 | -2 | 5 | 17 |
| 0 | 0 | -1 | -0 | -0 | 1 | 0 | -1 | 1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | |||||||||
| EPS (₹) | -0.26 | -0.18 | 0.02 | 0.14 | 1.19 | 1.29 | 1.92 | 2.94 | 6.05 |
| Book Value (₹) | 19.04 | 18.86 | 18.40 | 18.57 | 19.72 | 40.42 | 41.45 | 44.06 | 48.31 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | -0.31 | -0.05 | 0.32 | 0.59 | 1.64 | 1.40 | 2.21 | 2.46 | 4.66 |
| PROFITABILITY | |||||||||
| Operating Margin % | -0.49% | 0.00% | 3.05% | 3.05% | 6.98% | 10.32% | 10.61% | 9.62% | 23.39% |
| Net Margin % | -1.76% | 0.00% | 0.33% | 0.24% | 3.35% | 6.12% | 7.24% | 14.08% | 38.98% |
| ROE % | -1.65% | -0.43% | 0.37% | 0.66% | 8.24% | 4.55% | 4.69% | 5.13% | 9.36% |
| ROCE % | -1.33% | -0.32% | 1.35% | 2.98% | 7.76% | 5.38% | 6.78% | 6.23% | 10.02% |
| -1.14% | -0.30% | 0.20% | 0.27% | 3.59% | 2.98% | 3.54% | 3.91% | 6.15% | |
| EFFICIENCY | |||||||||
| Debtor Days | 146 | 0 | 146 | 97 | 111 | 189 | 151 | 245 | 354 |
| Inventory Days | 0 | 0 | 141 | 67 | 97 | 203 | 182 | 348 | 599 |
| Payable Days | 0 | 0 | 51 | 36 | 29 | 48 | 36 | 56 | 135 |
| 146 | 0 | 236 | 129 | 179 | 344 | 298 | 537 | 818 | |
| FINANCIAL HEALTH | |||||||||
| Debt to Equity (x) | 0.27x | 0.24x | 0.74x | 1.17x | 0.60x | 0.16x | 0.16x | 0.14x | 0.48x |
| Interest Coverage (x) | -933.93x | -66.81x | 1.33x | 1.18x | 3.18x | 6.63x | 5.19x | 4.91x | 10.76x |
| 3.10x | 71.24x | 1.63x | 1.86x | 2.37x | 4.77x | 4.02x | 6.48x | 4.23x | |
| GROWTH | |||||||||
| Revenue Growth % | 0.00% | -100.00% | 0.00% | 146.97% | 23.45% | -24.75% | 31.34% | -41.19% | -28.90% |
| Operating Profit Growth % | 0.00% | 50.50% | 1531.81% | 146.67% | 182.61% | 11.22% | 68.66% | -5.19% | 93.35% |
| Net Profit Growth % | 0.00% | 74.09% | 184.32% | 76.42% | 1629.92% | 37.48% | 55.36% | 14.43% | 96.89% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 48.84% | 53.10% | 106.19% | |
| VALUATION | |||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 9.39x | 5.27x | 2.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.43x | 0.35x | 0.25x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 6.85x | 6.43x | 5.38x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-26 - Ashoka Metcast Limited has informed the Exchange about Annual Report 2025-26 Web Link Letters to Shareholders
2026-08-26 - Ashoka Metcast Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-26 - Ashoka Metcast Limited has informed the Exchange about Shareholders meeting
2026-08-14 - Ashoka Metcast Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Ashoka Metcast Limited has informed the Exchange that Book Closure is fixed for the purpose of 17th AGM of the Company (Record date: 10/09/2026)
2026-08-12 - Ashoka Metcast Limited has informed the Exchange regarding change in Registered Office of the company.
2026-08-12 - Ashoka Metcast Limited has informed the Exchange regarding Appointment of Mr Chandrakant Natubhai Chauhan as Chief Financial Officer of the company w.e.f. August 12, 2026.
2026-08-12 - Ashoka Metcast Limited has informed the Exchange regarding Appointment of Mrs Jhanvi Vikas Sethi as Additional (Independent) Director of the company w.e.f. August 12, 2026.
2026-08-12 - Ashoka Metcast Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
Recent coverage and analyst commentary for ASHOKAMET
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