Panchmahal Steel Ltd.
•Market Cap₹ 591 Cr.
Current Price
High / Low₹ 331 / 275
Stock P/E147.8
Book Value₹ 81
Price to Book1.62
Dividend Yield0.00 %
ROCE5.0 %
ROE2.1 %
Face Value₹ 10
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
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
View full sector analysis →61%
PROS
- Latest quarter profit grew 325.9% YoY, showing strong momentum
- Company maintains a comfortable, low leverage position
- Company converts assets efficiently - asset turnover of 1.6x
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (59.5% of PBT)
- Company has a low return on equity of 1.6% over last 3 years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 4.9%
- Interest coverage is weak at 1.8x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1309.00 | 12.92 | 320109.92 | 0.54 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 183.65 | 20.78 | 229258.67 | 2.18 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 196.00 | 18.95 | 80958.30 | 1.20 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2646.15 | 30.23 | 69802.96 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 737.80 | 18.72 | 60825.68 | 0.54 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2151.00 | 48.59 | 59724.32 | 0.40 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1081.75 | 26.88 | 30195.09 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| JINDALSAW | 310.70 | 30.41 | 19869.52 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2666.75 | 43.18 | 18691.78 | 0.38 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 506.95 | 15.81 | 17863.97 | 0.39 | 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 |
| PANCHMAHQ | 309.75 | 147.77 | 590.95 | 0.00 | 4.34 | 325.89 | 93.97 | 7.34 | 5.00 | 8.71 |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 107 | 119 | 103 | 98 | 98 | 99 | 95 | 91 | 88 | 93 | 98 | 106 | 94 | |
| 103 | 115 | 101 | 93 | 93 | 94 | 90 | 91 | 88 | 89 | 94 | 102 | 89 | |
| Operating Profit | 4 | 4 | 2 | 6 | 5 | 5 | 5 | 0 | -0 | 3 | 4 | 4 | 5 |
| OPM % | 4.01% | 3.30% | 1.80% | 5.71% | 5.39% | 4.96% | 5.51% | 0.11% | -0.23% | 3.42% | 4.51% | 3.55% | 5.49% |
| 0 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |
| Interest | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before Tax | 0 | 1 | -0 | 3 | 3 | 2 | 2 | -3 | -3 | 1 | 2 | 1 | 6 |
| Tax % | 17.65% | 24.21% | 27.27% | 24.62% | 25.29% | 27.64% | 25.56% | 24.81% | 26.72% | 30.38% | 25.45% | 330.43% | 25.19% |
| Net Profit | 0 | 1 | -0 | 2 | 2 | 2 | 2 | -2 | -2 | 1 | 1 | -2 | 4 |
| 0.07 | 0.37 | -0.17 | 1.28 | 1.00 | 0.94 | 0.87 | -1.06 | -1.01 | 0.29 | 0.64 | -1.11 | 2.27 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 290 | 329 | 396 | 453 | 330 | 339 | 574 | 489 | 428 | 383 | 391 | |
| 292 | 312 | 379 | 430 | 327 | 316 | 498 | 473 | 412 | 368 | 374 | |
| Operating Profit | -2 | 18 | 16 | 23 | 4 | 23 | 76 | 16 | 16 | 16 | 17 |
| OPM % | -0.64% | 5.44% | 4.17% | 5.05% | 1.18% | 6.81% | 13.26% | 3.18% | 3.67% | 4.05% | 4.23% |
| 3 | 4 | 5 | 2 | 2 | 4 | 4 | 1 | 4 | 3 | 3 | |
| Interest | 11 | 14 | 13 | 14 | 13 | 10 | 6 | 7 | 8 | 6 | 5 |
| Depreciation | 8 | 8 | 8 | 8 | 8 | 7 | 8 | 8 | 8 | 8 | 8 |
| Profit before Tax | -19 | 0 | 0 | 4 | -15 | 10 | 67 | 2 | 4 | 5 | 9 |
| Tax % | 32.76% | -16.76% | -40.32% | 32.66% | -112.01% | 0.00% | 11.97% | 27.44% | 24.23% | 27.03% | 56.35% |
| Net Profit | -13 | 0 | 1 | 3 | -32 | 10 | 59 | 1 | 3 | 3 | 4 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -16.88 | 5.14 | 30.71 | 0.72 | 1.56 | 1.74 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.03% | 0.00% | 0.00% | 172.12% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 0%
- 5 Years:
- 3%
- 3 Years:
- -13%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -62%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 12%
- 3 Years:
- 2%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| 102 | 102 | 102 | 104 | 73 | 83 | 141 | 135 | 138 | 141 | |
| 62 | 70 | 70 | 69 | 72 | 55 | 28 | 76 | 40 | 50 | |
| Trade Payables | 72 | 108 | 96 | 82 | 82 | 114 | 92 | 51 | 22 | 19 |
| 3 | 1 | 3 | -10 | 7 | 7 | 18 | 14 | 15 | 12 | |
| Total Liabilities | 258 | 300 | 290 | 265 | 253 | 277 | 299 | 295 | 234 | 242 |
| 108 | 101 | 96 | 90 | 82 | 75 | 73 | 71 | 65 | 57 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| 105 | 133 | 129 | 132 | 131 | 149 | 166 | 155 | 119 | 127 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41 | 46 | |
| Cash & Bank | 6 | 7 | 7 | 7 | 5 | 8 | 10 | 7 | 2 | 1 |
| 39 | 59 | 58 | 37 | 35 | 46 | 49 | 61 | 6 | 10 | |
| Total Assets | 258 | 300 | 290 | 265 | 253 | 277 | 299 | 295 | 234 | 242 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3 | 5 | 17 | 14 | 7 | 29 | 38 | -27 | 40 | -5 | |
| Cash from Investing | 1 | 1 | -1 | 0 | 3 | -0 | -3 | -6 | 5 | 1 |
| Cash from Financing | -6 | -6 | -14 | -14 | -10 | -28 | -32 | 34 | -45 | 4 |
| -1 | 1 | -0 | -0 | 0 | 1 | 2 | -3 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | -6.60 | 0.15 | 0.29 | 1.34 | -16.88 | 5.14 | 30.71 | 0.72 | 1.56 | 1.74 |
| Book Value (₹) | 63.51 | 63.66 | 63.39 | 64.73 | 48.08 | 53.28 | 83.84 | 80.63 | 82.23 | 84.02 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.00 | 0.00 | 0.00 | 3.00 |
| Cash EPS (₹) | -2.31 | 4.23 | 4.39 | 5.34 | -12.89 | 9.05 | 34.69 | 4.89 | 5.80 | 5.96 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 0.25% | 5.94% | 5.31% | 5.53% | 1.79% | 8.09% | 13.95% | 3.47% | 3.67% | 4.05% |
| Net Margin % | -3.97% | 0.08% | 0.14% | 0.56% | -9.75% | 2.89% | 10.21% | 0.28% | 0.69% | 0.87% |
| ROE % | -9.88% | 0.24% | 0.45% | 2.09% | -29.93% | 10.15% | 44.78% | 0.88% | 1.91% | 2.10% |
| ROCE % | -3.97% | 7.35% | 6.96% | 9.08% | -0.95% | 12.48% | 42.06% | 4.29% | 5.56% | 5.00% |
| -4.47% | 0.11% | 0.19% | 0.92% | -12.44% | 3.70% | 20.34% | 0.46% | 1.12% | 1.40% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 31 | 34 | 37 | 26 | 29 | 31 | 24 | 32 | 37 | 41 |
| Inventory Days | 131 | 120 | 120 | 105 | 145 | 151 | 100 | 120 | 117 | 117 |
| Payable Days | 52 | 110 | 137 | 105 | 128 | 156 | 99 | 72 | 43 | 29 |
| 110 | 43 | 20 | 26 | 46 | 26 | 25 | 80 | 110 | 130 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.51x | 0.57x | 0.58x | 0.56x | 0.79x | 0.54x | 0.18x | 0.50x | 0.25x | 0.31x |
| Interest Coverage (x) | -0.65x | 1.02x | 1.03x | 1.28x | -0.13x | 1.96x | 12.28x | 1.27x | 1.49x | 1.81x |
| 0.95x | 1.05x | 1.09x | 1.15x | 1.10x | 1.19x | 1.70x | 1.62x | 2.39x | 2.44x | |
| GROWTH | ||||||||||
| Revenue Growth % | -25.71% | 13.52% | 20.19% | 14.43% | -27.06% | 2.57% | 69.21% | -14.81% | -12.49% | -10.41% |
| Operating Profit Growth % | -93.31% | 2674.63% | -1.88% | 18.52% | -76.32% | 362.59% | 191.70% | -78.84% | 17.80% | -8.69% |
| Net Profit Growth % | -256.67% | 102.34% | 86.09% | 367.65% | -1359.03% | 130.45% | 497.17% | -97.65% | 115.42% | 11.99% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 115.42% | 11.99% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 93.20x | 77.85x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.76x | 1.62x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.21% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 15.76x | 16.86x |
Documents
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