Shah Metacorp Ltd.

•

shahgroupco.comBSE: 533275NSE: SHAH

Market Cap₹ 349 Cr.

Current Price

High / Low₹ 6 / 3

Stock P/E26.4

Book Value₹ 4

Price to Book1.03

Dividend Yield0.00 %

ROCE25.5 %

ROE29.3 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Steel: 74.8% • Agriculture: 25.2%

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%

View full sector analysis →

PROS

Operating margins have improved to 6.3% from -33.2%
Latest quarter profit grew 41.3% YoY, showing strong momentum
Company has delivered good sales growth of 22.2% CAGR over last 5 years
Company comfortably covers its interest (889.3x coverage)
Company maintains a comfortable, low leverage position
Institutional investors have been accumulating - FII+DII up 2.1pp

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.07x)
Company has a low return on capital employed of 10.2%
Equity base is being diluted - shares outstanding up 275.2%
Contingent liabilities are large at 99.2% of net worth

* 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	1310.35	12.93	320440.06	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	188.55	21.33	235375.56	2.12	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	186.25	18.01	76931.03	1.26	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2607.95	29.79	68795.28	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	782.80	19.87	64535.57	0.51	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2167.50	48.97	60182.46	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1073.35	26.68	29960.62	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	RATNAMANI	2862.55	46.35	20064.19	0.35	107.03	-15.82	971.63	-15.63	18.01	16.69
9.	JINDALSAW	311.85	30.52	19943.06	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
10.	SARDAEN	546.75	17.05	19266.45	0.37	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	253.20	21.14	17046.41	0.39	222.37	2.75	1750.47	32.29	20.20	19.36
12.	SHAH	3.52	26.37	349.32	0.00	3.52	41.26	57.20	97.93	25.55	8.31

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
	16	21	13	46	46	49	40	41	29	67	50	62	572
	17	21	11	44	43	46	38	39	26	65	49	66	537
Operating Profit	-1	1	1	2	3	3	2	3	3	2	1	-4	35
OPM %	-4.80%	2.77%	11.46%	4.69%	7.43%	5.64%	5.77%	6.34%	10.97%	2.47%	2.18%	-6.66%	6.11%
	3	1	0	0	25	1	2	1	1	1	2	17	12
Interest	0	0	0	0	0	0	0	0	0	0	1	1	3
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	10
Profit before Tax	1	1	1	2	27	2	3	2	3	1	1	10	47
Tax %	2.34%	1.32%	3.75%	5.13%	15.00%	0.80%	3.86%	-65.50%	11.03%	12.09%	23.66%	23.52%	25.15%
Net Profit	0	0	0	0	23	2	3	4	2	1	1	8	35
	0.08	0.05	0.02	0.04	0.56	0.05	0.06	0.07	0.04	0.01	0.01	0.09	0.04

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	159	173	95	148	65	13	20	40	97	176	236
	157	161	98	157	78	94	30	44	93	165	234
Operating Profit	2	12	-3	-9	-13	-82	-10	-4	4	11	2
OPM %	1.53%	6.83%	-2.79%	-6.28%	-19.95%	-650.65%	-47.58%	-10.15%	3.71%	6.35%	0.88%
	5	0	0	1	9	0	14	7	4	28	21
Interest	12	12	10	7	6	6	1	0	0	0	3
Depreciation	11	9	8	7	6	5	4	3	4	4	4
Profit before Tax	-15	-9	-21	-22	-16	-92	0	-0	4	35	17
Tax %	12.67%	35.13%	13.51%	5.72%	12.58%	19.48%	1637.15%	675.03%	3.21%	7.79%	23.37%
Net Profit	-13	-6	-18	-20	-14	-74	-6	2	4	33	13
EPS	0.00	0.00	0.00	0.00	0.00	-4.68	-0.35	0.16	0.10	0.55	—
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:: 0%
5 Years:: 22%
3 Years:: 106%

COMPOUNDED PROFIT GROWTH

10 Years:: 79%
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -5%
5 Years:: 14%
3 Years:: 8%
1 Year:: -6%

RETURN ON EQUITY

10 Years:: -10%
5 Years:: 8%
3 Years:: 14%
Last Year:: 29%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	16	16	16	16	16	16	16	33	42	59
Minority Interest	2	0	0	0	0	0	0	0	0	0
	64	60	42	22	8	-66	-47	-16	15	106
	95	101	81	74	76	93	79	67	37	18
Trade Payables	39	54	39	52	44	25	20	16	24	13
	27	20	46	29	33	21	-1	-3	-2	-17
Total Liabilities	242	251	224	192	176	89	67	99	117	179
	56	48	42	34	29	24	21	25	21	28
	46	40	42	33	25	12	15	8	13	8
	0	0	0	0	0	0	0	0	60	131
Cash & Bank	3	1	0	0	0	0	0	29	0	0
	137	162	140	124	122	52	31	38	22	12
Total Assets	242	251	224	192	176	89	67	99	117	179

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-3	4	21	8	4	-11	-21	-0	-32	-47
Cash from Investing	4	-2	-2	1	0	0	0	-7	-0	-10
Cash from Financing	-1	-1	-19	-9	-4	11	21	35	4	57
	-1	1	-0	-0	0	-0	0	28	-28	-0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	29.81	30.87	30.87	33.17	29.15	29.15	29.15	29.49
	0.06	0.00	0.00	0.00	0.00	0.01	0.00	1.09
	0.00	0.00	0.00	0.05	0.04	0.04	0.04	1.02
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	70.13	69.13	69.13	66.78	70.81	70.80	70.81	68.40

Documents

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

2026-09-10

Allotment of Securities

2026-09-10 - Allotment of 2,75,00,000 (Two Crore Seventy-Five Lakhs) fully paid-up Equity Shares of face value of Re. 1/- each at an issue price of Rs. 4.71/- per share (including a premium of Rs. 3.71/- per share) to Ms. Mona Viral Shah, Promoter and Director of the Company, upon the exercise of rights attached to convertible warrants previously issued on a preferential basis

2026-09-10

Outcome of Board Meeting

2026-09-10

General Updates

2026-09-10 - Shah Metacorp Limited has informed the Exchange about General Updates

2026-09-10

Copy of Newspaper Publication

2026-09-10 - Shah Metacorp Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-08

Record Date

2026-09-08 - Shah Metacorp Limited has informed the Exchange that Record date for the purpose of Meeting is 23-Sep-2026.

2026-09-08

Shareholders meeting

2026-09-08 - Shah Metacorp Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-08

Copy of Newspaper Publication

2026-09-08 - Shah Metacorp Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Record Date

2026-08-31 - Shah Metacorp Limited has informed the Exchange that Record date for the purpose of Meeting is 23-Sep-2026.

2026-08-31

Change in Auditors

2026-08-31 - Shah Metacorp Limited has informed the Exchange regarding Change in Auditors of the company.

News

Recent coverage and analyst commentary for SHAH

Loading news…

🤖

AI Stock Analyst

Shah Metacorp Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account