NewMalayalam Steel Ltd.

•

demacsteel.comBSE: -NSE: NMSTEEL

Market Cap₹ 40 Cr.

Current Price

High / Low₹ 39 / 17

Stock P/E5.6

Book Value₹ 49

Price to Book0.52

Dividend Yield0.00 %

ROCE9.6 %

ROE7.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Metals & Mining

Hold

The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.

Confidence

61%

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PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.37x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position
Company converts assets efficiently - asset turnover of 2.7x

CONS

A large part of profit comes from other income (69.8% of PBT)
Receivables are growing faster than sales - a possible quality concern
Working capital days have increased from 34 to 65 days
Equity base is being diluted - shares outstanding up 36.7%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Metals & MiningIron & SteelSteel & Iron Products

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

S.No.	Name
1.	JSWSTEEL	1306.00	12.89	319376.29	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.60	20.77	229196.25	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.35	18.98	81102.86	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2522.00	28.81	66528.00	0.20	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	APLAPOLLO	2217.80	50.10	61579.08	0.38	263.11	10.94	5606.71	12.07	31.83	7.34
6.	JSL	733.55	18.62	60475.30	0.55	768.66	7.56	11278.54	10.50	19.19	12.09
7.	SHYAMMETL	1072.40	26.65	29934.10	0.42	350.73	20.66	5455.09	23.45	13.88	14.03
8.	JINDALSAW	309.55	30.29	19795.98	0.65	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2629.05	42.57	18427.54	0.38	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	490.90	15.31	17298.40	0.41	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	239.75	20.01	16140.90	0.42	222.37	2.75	1750.47	32.29	20.20	19.36
12.	NMSTEEL	22.90	5.63	39.59	0.00	—	—	—	—	9.64	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	300	318	355	300	304
	291	311	347	293	297
Operating Profit	14	13	13	11	11
OPM %	5	4	4	4	4
Other Income	5	6	5	3	4
Interest	3	3	3	3	3
Depreciation	1	1	1	2	2
	10	9	8	6	6
Tax %	20	26	25	25	27
Net Profit	8	7	6	4	4
EPS	604	532	475	3	3
Dividend Payout %	0	0	0	0	0
Minority Interest	0	0	0	0	0
Share of Associates	0	0	0	0	0
Adjusted EPS	6	5	5	3	3

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: -1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -13%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: -30%

RETURN ON EQUITY

10 Years:: —
5 Years:: 19%
3 Years:: 12%
Last Year:: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-
Equity Capital	13	13	13	13	17
	11	18	24	28	61
	14	27	11	47	12
Trade Payables	0	6	18	9	7
	27	26	23	20	11
Total Liabilities	64	90	87	116	109
ASSETS	-	-	-	-	-
	20	21	22	20	20
Capital Work in Progress	1	2	0	1	8
	13	33	37	48	26
	0	0	0	21	26
Cash & Bank	0	0	7	13	20
	31	34	22	14	9
Total Assets	64	90	87	116	109
Total Debt	36	49	28	59	18
Net Working Capital	22	25	27	28	54
Contingent Liabilities	0	0	0	0	0
Book Value per Share	1855.47	2387.64	2862.42	32.00	45.32
Face Value	1000.00	1000.00	1000.00	10.00	10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	12	-4	31	-22	26
Cash from Investing	-1	-4	-1	-0	-8
Cash from Financing	-11	8	-24	28	-11
	0	0	7	6	7
Free Cash Flow	12	-8	31	-23	17
OCF / Net Profit	1.57	-0.55	5.18	-5.13	5.80
Cumulative 5-Year FCF	0	0	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	603.81	532.16	474.79	3.38	2.55
Book Value (₹)	1855.47	2387.64	2862.42	32.00	45.32
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	7.04	6.36	5.90	4.61	3.50
PROFITABILITY
Operating Margin %	4.70%	4.10%	3.53%	2.49%	2.25%
Net Margin %	2.54%	2.11%	1.69%	1.41%	1.44%
ROE %	32.54%	25.08%	18.09%	11.13%	7.42%
ROCE %	21.45%	16.83%	15.45%	10.94%	9.64%
	11.85%	8.71%	6.77%	4.19%	3.92%
EFFICIENCY
Debtor Days	16	18	15	19	28
Inventory Days	16	27	36	51	44
Payable Days	0	4	13	17	10
	32	41	38	53	62
FINANCIAL HEALTH
Debt to Equity (x)	1.55x	1.63x	0.78x	1.46x	0.23x
Interest Coverage (x)	3.89x	4.38x	3.64x	2.72x	2.75x
	1.97x	1.61x	1.73x	1.42x	3.11x
GROWTH
Revenue Growth %	0.00%	5.96%	11.60%	-15.40%	1.33%
Operating Profit Growth %	0.00%	-7.59%	-3.67%	-16.21%	5.48%
Net Profit Growth %	0.00%	-11.87%	-10.78%	-28.91%	3.31%
	0.00%	0.00%	0.00%	-99.29%	-24.42%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	9.15x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.52x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	5.59x	3.46x

Shareholding Pattern

Numbers in percentages

	Mar 2025	Sep 2025	Mar 2026
	73.02	73.23	73.02
FIIs	0.00	0.00	0.00
	3.54	0.00	6.01
Government	0.00	0.00	0.00
Public	23.44	20.77	20.98

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for NMSTEEL

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NewMalayalam Steel Ltd.

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Name

JSWSTEEL

1306.00

12.89

319376.29

0.54

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

183.60

20.77

229196.25

2.18

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

196.35

18.98

81102.86

1.20

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2522.00

28.81

66528.00

0.20

1047.88

200.11

4081.12

14.91

23.94

32.17

APLAPOLLO

2217.80

50.10

61579.08

0.38

263.11

10.94

5606.71

12.07

31.83

7.34

JSL

733.55

18.62

60475.30

0.55

768.66

7.56

11278.54

10.50

19.19

12.09

SHYAMMETL

1072.40

26.65

29934.10

0.42

350.73

20.66

5455.09

23.45

13.88

14.03

JINDALSAW

309.55

30.29

19795.98

0.65

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2629.05

42.57

18427.54

0.38

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

490.90

15.31

17298.40

0.41

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

239.75

20.01

16140.90

0.42

222.37

2.75

1750.47

32.29

20.20

19.36

NMSTEEL

22.90

5.63

39.59

0.00

—

9.64

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

300

318

355

300

304

291

311

347

293

297

Operating Profit

OPM %

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

604

532

475

Dividend Payout %

Minority Interest

Share of Associates

Adjusted EPS

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

Trade Payables

Total Liabilities

116

109

ASSETS

Capital Work in Progress

Cash & Bank

Total Assets

116

109

Total Debt

Net Working Capital

Contingent Liabilities

Book Value per Share

1855.47

2387.64

2862.42

32.00

45.32

Face Value

1000.00

10.00

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-4

-22

Cash from Investing

-1

-4

-1

-0

-8

Cash from Financing

-11

-24

-11

Free Cash Flow

-8

-23

OCF / Net Profit

1.57

-0.55

5.18

-5.13

5.80

Cumulative 5-Year FCF

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

603.81

532.16

474.79

3.38

2.55

Book Value (₹)

1855.47

2387.64

2862.42

32.00

45.32

Dividend per Share (₹)

0.00

Cash EPS (₹)

7.04

6.36

5.90

4.61

3.50

PROFITABILITY

Operating Margin %

4.70%

4.10%

3.53%

2.49%

2.25%

Net Margin %

2.54%

2.11%

1.69%

1.41%

1.44%

ROE %

32.54%

25.08%

18.09%

11.13%

7.42%

ROCE %

21.45%

16.83%

15.45%

10.94%

9.64%

11.85%

8.71%

6.77%

4.19%

3.92%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

1.55x

1.63x

0.78x

1.46x

0.23x

Interest Coverage (x)

3.89x

4.38x

3.64x

2.72x

2.75x

1.97x

1.61x

1.73x

1.42x

3.11x

GROWTH

Revenue Growth %

0.00%

5.96%

11.60%

-15.40%

1.33%

Operating Profit Growth %

0.00%

-7.59%

-3.67%

-16.21%

5.48%

Net Profit Growth %

0.00%

-11.87%

-10.78%

-28.91%

3.31%

0.00%

-99.29%

-24.42%

VALUATION

P/E (x)

0.00x

9.15x

P/B (x)

0.00x

0.52x

Dividend Yield %

0.00%

0.00x

5.59x

3.46x

Mar 2025

Sep 2025

Mar 2026

73.02

73.23

73.02

FIIs

0.00

3.54

0.00

6.01

Government

0.00

Public

23.44

20.77

20.98

NewMalayalam Steel 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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NewMalayalam Steel Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI