Shri Bajrang Alliance Ltd.

•

sbal.co.inBSE: 526981NSE: SHBAJRG

Market Cap₹ 144 Cr.

Current Price

High / Low₹ 215 / 150

Stock P/E3.2

Book Value₹ 425

Price to Book0.31

Dividend Yield0.00 %

ROCE1.1 %

ROE0.8 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2021 • Steel: 55.9% • Agro: 44.1%

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

Company has consistently been profitable over the last 5 years
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (124.0% of PBT)
Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 1.3%
Company has a low return on equity of 0.9% over last 3 years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -4.20x)

* 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	1309.00	12.92	320109.92	0.54	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.65	20.78	229258.67	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	196.00	18.95	80958.30	1.20	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2646.15	30.23	69802.96	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	737.80	18.72	60825.68	0.54	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2151.00	48.59	59724.32	0.40	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1081.75	26.88	30195.09	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	310.70	30.41	19869.52	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2666.75	43.18	18691.78	0.38	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	506.95	15.81	17863.97	0.39	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.	SHBAJRG	160.25	3.18	144.22	0.00	9.65	-88.74	104.98	17.50	1.13	10.23

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
	151	68	124	227	130	80	107	80	89	87	47	47	105
	146	68	126	224	130	79	106	79	87	84	49	47	104
Operating Profit	5	-0	-2	2	1	1	1	2	2	3	-2	1	1
OPM %	3.09%	-0.04%	-1.77%	0.92%	0.51%	1.27%	0.83%	1.94%	2.79%	3.57%	-5.32%	1.61%	1.29%
	0	0	0	4	1	0	0	2	0	0	0	4	-0
Interest	0	0	0	0	0	0	0	1	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before Tax	4	-1	-3	5	0	0	0	2	2	2	-4	4	10
Tax %	28.38%	24.69%	28.57%	22.47%	35.00%	-4.76%	-113.33%	35.44%	29.01%	28.26%	38.92%	35.56%	4.74%
Net Profit	0	0	0	0	70	75	68	113	86	101	62	194	10
	13.42	8.17	8.18	16.33	7.73	8.34	7.56	12.59	9.53	11.23	6.86	21.56	10.72

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	77	101	157	175	214	171	524	570	398	271	287
	72	96	152	171	205	162	513	565	394	267	284
Operating Profit	4	5	5	3	9	9	11	5	4	4	3
OPM %	5.57%	4.48%	3.13%	1.90%	4.24%	5.31%	2.08%	0.81%	1.04%	1.43%	0.95%
	0	0	0	0	0	3	1	4	3	5	4
Interest	3	2	3	2	4	3	2	1	1	1	1
Depreciation	0	1	1	0	2	3	3	3	3	3	4
Profit before Tax	1	2	1	1	3	7	7	5	3	4	12
Tax %	21.64%	28.67%	-1.65%	32.61%	24.02%	44.66%	20.44%	35.78%	20.17%	24.87%	7.87%
Net Profit	1	1	1	1	2	4	6	3	2	3	11
EPS	0.00	0.00	0.00	15.54	34.21	80.08	37.97	45.40	36.22	49.18	—
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:: 14%
5 Years:: 5%
3 Years:: -20%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 8%
3 Years:: 9%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 1%
5 Years:: 1%
3 Years:: 1%
Last Year:: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	9	9	9	9	9	9	9
	36	78	94	108	144	216	250	292	327	375
	38	25	20	47	54	38	58	59	98	104
Trade Payables	0	2	10	46	11	2	18	3	28	33
	6	9	2	5	7	12	41	53	8	10
Total Liabilities	89	123	135	215	226	277	377	416	469	531
	4	7	8	8	42	42	38	42	42	55
Capital Work in Progress	0	0	0	28	0	0	0	0	0	0
	20	57	72	86	115	187	228	259	303	329
	18	22	39	28	32	25	41	50	82	93
	0	0	0	0	0	0	0	50	21	20
Cash & Bank	0	0	0	0	0	0	0	2	0	0
	47	37	16	64	36	23	69	13	20	34
Total Assets	89	123	135	215	226	277	377	416	469	531

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	13	-8	8	2	21	-2	0	-24	-10
Cash from Investing	-0	-1	-1	-30	-7	-5	-5	-7	-15	5
Cash from Financing	-6	-12	10	23	5	-16	7	8	37	6
	-0	0	0	0	0	0	-0	1	-1	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	1.06	10.08	21.72	15.54	34.21	80.08	37.97	45.40	36.22	49.18
Book Value (₹)	49.80	92.59	111.20	126.57	166.66	246.85	284.52	330.46	369.51	422.71
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 (₹)	1.47	2.13	2.39	1.06	4.74	7.11	9.37	6.87	5.82	7.01
PROFITABILITY
Operating Margin %	5.14%	4.39%	3.13%	1.93%	4.41%	6.44%	2.36%	0.81%	1.04%	1.43%
Net Margin %	1.14%	1.14%	0.92%	0.38%	1.02%	2.22%	1.08%	0.55%	0.51%	1.06%
ROE %	2.15%	1.84%	1.57%	0.63%	1.65%	2.04%	2.36%	1.13%	0.64%	0.80%
ROCE %	4.42%	3.85%	3.67%	2.21%	3.98%	4.08%	3.33%	1.78%	0.97%	1.13%
	1.03%	1.11%	1.12%	0.38%	0.99%	1.51%	1.73%	0.79%	0.46%	0.57%
EFFICIENCY
Debtor Days	101	60	35	67	66	46	27	35	33	28
Inventory Days	68	72	70	70	52	61	23	29	61	118
Payable Days	4	5	16	65	59	19	9	8	17	52
	165	126	89	72	58	88	42	57	76	94
FINANCIAL HEALTH
Debt to Equity (x)	0.91x	0.32x	0.20x	0.41x	0.39x	0.19x	0.21x	0.20x	0.29x	0.27x
Interest Coverage (x)	1.45x	1.78x	1.51x	1.47x	1.64x	3.48x	3.89x	5.64x	3.03x	3.83x
	1.77x	1.33x	1.75x	0.98x	1.32x	1.52x	1.06x	1.03x	1.07x	1.16x
GROWTH
Revenue Growth %	8.91%	31.23%	56.11%	11.18%	22.44%	-20.13%	206.81%	8.82%	-30.10%	-31.98%
Operating Profit Growth %	282.27%	4.77%	9.10%	-31.43%	179.36%	16.69%	12.13%	-27.28%	-21.91%	22.82%
Net Profit Growth %	175.69%	23.44%	22.28%	-53.47%	226.08%	73.90%	48.76%	-44.60%	-35.11%	41.12%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	19.58%	-20.23%	35.80%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.80x	3.70x	2.69x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.80x	0.36x	0.31x
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	32.87x	31.11x	25.91x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.97	63.97	63.97	63.97	63.97	63.97	63.97	63.97	63.97
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
	36.03	36.03	36.03	36.03	36.03	36.03	36.03	36.03	36.03

Documents

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

No announcements filed.

News

Recent coverage and analyst commentary for SHBAJRG

Loading news…

🤖

AI Stock Analyst

Shri Bajrang Alliance Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account