Scan Steels Ltd.
•Market Cap₹ 364 Cr.
Current Price
High / Low₹ 69 / 32
Stock P/E16.0
Book Value₹ 76
Price to Book0.48
Dividend Yield0.00 %
ROCE7.0 %
ROE4.8 %
Face Value₹ 10
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ABOUT
KEY POINTS
Revenue Breakup Mar 2013 • Financial: 97.5% • Realties: 2.5%
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 29.0% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.63x)
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
CONS
- Recent results are weak - TTM profit is down 20.0% versus prior year
- Company has a low return on equity of 4.6% over last 3 years
- Company has a low return on capital employed of 7.6%
- Company has delivered a poor sales growth of 3.4% over past five years
- Equity base is being diluted - shares outstanding up 11.9%
- Operating margins have contracted to 5.8% from 8.8%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1325.00 | 13.07 | 324022.65 | 0.54 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 189.00 | 21.38 | 235937.32 | 2.12 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 197.10 | 19.06 | 81412.65 | 1.19 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2591.20 | 29.60 | 68353.43 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| APLAPOLLO | 2250.00 | 50.83 | 62473.14 | 0.38 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| JSL | 737.70 | 18.72 | 60817.43 | 0.54 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| SHYAMMETL | 1066.05 | 26.49 | 29756.85 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| JINDALSAW | 305.30 | 29.88 | 19524.19 | 0.66 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| RATNAMANI | 2732.25 | 44.24 | 19150.89 | 0.37 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| SARDAEN | 508.95 | 15.87 | 17934.44 | 0.39 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 240.90 | 20.11 | 16218.33 | 0.42 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| SCANSTL | 59.87 | 14.69 | 363.69 | 0.00 | 13.25 | 26.21 | 257.79 | 11.12 | 7.30 | 9.20 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 227 | 262 | 219 | 257 | 234 | 140 | 175 | 241 | 232 | 133 | 192 | 282 | 258 | |
| 215 | 251 | 211 | 241 | 210 | 138 | 165 | 232 | 213 | 127 | 181 | 268 | 241 | |
| Operating Profit | 12 | 11 | 9 | 16 | 24 | 2 | 10 | 9 | 19 | 6 | 10 | 14 | 17 |
| OPM % | 5.29% | 4.08% | 3.94% | 6.30% | 10.30% | 1.75% | 5.69% | 3.70% | 8.33% | 4.27% | 5.44% | 4.86% | 6.61% |
| 1 | 0 | 0 | 1 | 2 | 1 | 0 | 1 | 0 | 0 | -0 | 2 | 0 | |
| Interest | 3 | 2 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Profit before Tax | 6 | 5 | 2 | 11 | 20 | -2 | 4 | 4 | 13 | -0 | 4 | 9 | 17 |
| Tax % | 21.24% | 31.84% | 27.98% | 26.94% | 25.78% | 30.41% | 29.65% | 19.00% | 25.24% | 30.56% | 25.30% | 25.67% | 25.17% |
| Net Profit | 5 | 3 | 2 | 8 | 15 | -1 | 3 | 4 | 10 | -0 | 3 | 7 | 13 |
| 0.90 | 0.64 | 0.30 | 1.55 | 2.78 | -0.25 | 0.48 | 0.62 | 1.71 | -0.04 | 0.53 | 1.18 | 2.13 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 353 | 378 | 507 | 695 | 668 | 732 | 1,000 | 1,091 | 965 | 789 | 864 | |
| 345 | 361 | 449 | 652 | 627 | 663 | 914 | 1,042 | 917 | 743 | 817 | |
| Operating Profit | 8 | 16 | 58 | 43 | 40 | 69 | 86 | 49 | 48 | 46 | 47 |
| OPM % | 2.27% | 4.30% | 11.45% | 6.23% | 6.01% | 9.44% | 8.60% | 4.49% | 4.97% | 5.80% | 5.42% |
| 2 | 2 | 1 | 1 | 1 | 4 | 2 | 6 | 2 | 5 | 2 | |
| Interest | 31 | 13 | 36 | 15 | 15 | 11 | 10 | 20 | 10 | 9 | 9 |
| Depreciation | 12 | 20 | 17 | 13 | 13 | 14 | 13 | 13 | 15 | 16 | 16 |
| Profit before Tax | -33 | -15 | 5 | 17 | 13 | 48 | 66 | 22 | 24 | 26 | 30 |
| Tax % | 94.49% | 20.94% | 135.83% | 61.12% | 97.59% | 36.40% | 22.90% | 30.36% | 26.60% | 24.85% | 25.28% |
| Net Profit | -2 | -12 | -2 | 7 | 0 | 31 | 51 | 15 | 18 | 20 | 23 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.87 | 9.70 | 2.93 | 3.39 | 3.35 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 3%
- 3 Years:
- -8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 22%
- 5 Years:
- 128%
- 3 Years:
- -27%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 8%
- 3 Years:
- 5%
- Last Year:
- 5%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 49 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 52 | 59 | |
| 210 | 210 | 211 | 216 | 217 | 248 | 298 | 314 | 341 | 359 | |
| 205 | 209 | 197 | 153 | 144 | 85 | 100 | 102 | 117 | 62 | |
| Trade Payables | 57 | 59 | 32 | 14 | 29 | 15 | 17 | 16 | 5 | 7 |
| 60 | 14 | 38 | 27 | 36 | 73 | 70 | 82 | 89 | 88 | |
| Total Liabilities | 582 | 543 | 530 | 463 | 478 | 474 | 539 | 566 | 605 | 574 |
| 295 | 284 | 293 | 284 | 272 | 269 | 260 | 281 | 279 | 264 | |
| Capital Work in Progress | 0 | 9 | 0 | 1 | 2 | 0 | 5 | 2 | 1 | 20 |
| 2 | 2 | 1 | 1 | 1 | 0 | 8 | 13 | 26 | 21 | |
| 95 | 69 | 103 | 103 | 126 | 129 | 124 | 159 | 176 | 168 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25 | 11 | |
| Cash & Bank | 6 | 13 | 26 | 3 | 2 | 3 | 22 | 10 | 32 | 10 |
| 183 | 166 | 107 | 72 | 75 | 73 | 120 | 101 | 67 | 81 | |
| Total Assets | 582 | 543 | 530 | 463 | 478 | 474 | 539 | 566 | 605 | 574 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 70 | 4 | -68 | 8 | 30 | 35 | 53 | 58 | 78 | 7 | |
| Cash from Investing | -93 | 3 | 57 | -0 | -7 | -0 | -26 | -32 | -26 | -15 |
| Cash from Financing | 28 | 1 | 26 | -27 | -24 | -34 | -4 | -33 | -30 | -14 |
| 5 | 7 | 13 | -23 | -1 | 1 | 19 | -12 | 22 | -22 |
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 (₹) | -0.37 | -2.29 | -0.38 | 1.27 | 0.06 | 5.87 | 9.70 | 2.93 | 3.39 | 3.35 |
| Book Value (₹) | 53.06 | 50.64 | 50.22 | 51.30 | 51.39 | 57.33 | 67.02 | 69.91 | 75.13 | 71.26 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.18 | 1.59 | 2.93 | 3.66 | 2.47 | 8.54 | 12.15 | 5.46 | 6.33 | 6.02 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 2.68% | 4.38% | 11.42% | 6.37% | 6.15% | 10.03% | 8.82% | 5.04% | 4.97% | 5.80% |
| Net Margin % | -0.47% | -2.82% | -0.38% | 0.96% | 0.05% | 4.20% | 5.08% | 1.40% | 1.84% | 2.48% |
| ROE % | -0.87% | -4.54% | -0.75% | 2.50% | 0.12% | 10.80% | 15.60% | 4.27% | 4.67% | 4.84% |
| ROCE % | -0.47% | -0.36% | 8.98% | 7.20% | 6.81% | 14.70% | 17.69% | 8.92% | 6.95% | 6.95% |
| -0.31% | -2.10% | -0.37% | 1.34% | 0.07% | 6.46% | 10.03% | 2.77% | 3.03% | 3.33% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 66 | 47 | 40 | 25 | 17 | 15 | 15 | 16 | 13 | 8 |
| Inventory Days | 116 | 72 | 61 | 54 | 63 | 64 | 46 | 47 | 63 | 79 |
| Payable Days | 79 | 76 | 47 | 16 | 17 | 16 | 8 | 7 | 5 | 4 |
| 103 | 42 | 53 | 62 | 63 | 62 | 54 | 57 | 71 | 84 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.86x | 0.81x | 0.75x | 0.57x | 0.54x | 0.32x | 0.30x | 0.31x | 0.30x | 0.15x |
| Interest Coverage (x) | -0.07x | -0.13x | 1.15x | 2.17x | 1.87x | 5.34x | 7.90x | 2.12x | 3.31x | 4.03x |
| 0.60x | 0.59x | 1.13x | 1.30x | 1.34x | 1.76x | 2.29x | 1.86x | 1.56x | 1.85x | |
| GROWTH | ||||||||||
| Revenue Growth % | -21.11% | 6.96% | 34.18% | 37.21% | -3.98% | 9.67% | 36.62% | 9.06% | -11.49% | -18.25% |
| Operating Profit Growth % | -80.53% | 76.19% | 223.55% | -25.23% | -7.26% | 78.90% | 20.09% | -37.66% | -9.04% | 0.73% |
| Net Profit Growth % | -167.83% | -548.63% | 83.33% | 437.71% | -95.20% | 9538.15% | 65.14% | -69.83% | 15.74% | 10.57% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 15.74% | -1.22% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 18.37x | 10.18x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.83x | 0.48x |
| Dividend Yield % | 0.00% | 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 | 0.00x | 0.00x | 8.38x | 5.00x |
Documents
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News
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