Ashoka Metcast Ltd.

•

ashokametcast.inBSE: 540923NSE: ASHOKAMET

Market Cap₹ 34 Cr.

Current Price

High / Low₹ 21 / 12

Stock P/E2.6

Book Value₹ 50

Price to Book0.25

Dividend Yield0.00 %

ROCE10.0 %

ROE9.4 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Steel Trading: 98.1% • Trading of Goods: 1.9%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

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.

Confidence

78%

View full sector analysis →

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

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ADANIENT	2936.00	53.39	397452.96	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	998.00	27.21	45304.36	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	AEGISLOG	1270.55	35.64	44596.31	0.68	544.84	210.70	2356.86	37.07	19.76	30.28
4.	CPPLUS	3705.90	91.86	43840.96	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
5.	REDINGTON	371.40	17.07	29035.10	1.62	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.75	61.67	15347.59	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	74.20	100.87	11327.02	0.20	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	826.10	83.74	10411.77	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	64.18	21.52	9627.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1827.20	63.41	7952.54	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	342.50	24.69	7724.69	0.44	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	ASHOKAMET	13.50	2.61	33.74	0.00	3.23	187.21	4.07	-25.30	10.02	-18.05

Detailed Comparison with:

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 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-2	-10	-8	-15	-46	16	-6	-17
Cash from Investing	3	-0	-0	-4	-5	-13	0	1
Cash from Financing	-1	10	8	18	53	-2	5	17
	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

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	53.65	53.65	53.65	53.65	53.65	53.65	53.65	53.65	53.65
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	46.35	46.35	46.35	46.35	46.35	46.35	46.35	46.35	46.35

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-26

General Updates

2026-08-26 - Ashoka Metcast Limited has informed the Exchange about Annual Report 2025-26 Web Link Letters to Shareholders

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Ashoka Metcast Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-26

Shareholders meeting

2026-08-26 - Ashoka Metcast Limited has informed the Exchange about Shareholders meeting

2026-08-14

Copy of Newspaper Publication

2026-08-14 - Ashoka Metcast Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Record Date

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

Address Change

2026-08-12 - Ashoka Metcast Limited has informed the Exchange regarding change in Registered Office of the company.

2026-08-12

Appointment

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

Appointment

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

Outcome of Board Meeting

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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Ashoka Metcast Ltd.

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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

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

Operating Profit

-3

-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%

Interest

-0

Depreciation

-0

Profit before Tax

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

0.28

0.14

0.15

1.43

0.61

1.39

0.72

0.22

0.45

1.18

1.80

2.62

1.29

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

Operating Profit

-0

OPM %

-0.54%

—

2.71%

2.97%

6.52%

8.84%

10.61%

9.62%

23.39%

17.91%

-0

Interest

Depreciation

Profit before Tax

-0

Tax %

2.50%

-4.17%

26.24%

25.82%

19.02%

24.02%

26.13%

10.19%

21.96%

19.87%

Net Profit

-0

EPS

0.00

0.02

0.14

0.84

1.29

1.92

2.94

6.05

—

Dividend Payout %

0.00%

—

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

Trade Payables

Total Liabilities

133

138

143

208

Capital Work in Progress

Cash & Bank

Total Assets

133

138

143

208

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-2

-10

-8

-15

-46

-6

-17

Cash from Investing

-0

-4

-5

-13

Cash from Financing

-1

-2

-1

-0

-1

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

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%

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

111

189

151

245

354

Inventory Days

141

203

182

348

599

Payable Days

135

146

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

0.14x

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%

48.84%

53.10%

106.19%

VALUATION

P/E (x)

0.00x

9.39x

5.27x

2.00x

P/B (x)

0.00x

0.43x

0.35x

0.25x

Dividend Yield %

0.00%

0.00x

6.85x

6.43x

5.38x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

53.65

FIIs

0.00

DIIs

0.00

Government

0.00

46.35

Ashoka Metcast Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Ashoka Metcast Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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