Steel Exchange India Ltd.
•₹ 10.60.57%
2026-08-21
PROS
- Latest quarter profit grew 46.9% YoY, showing strong momentum
- Operating margins have improved to 12.4% from 7.3%
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 22.6% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 4.8% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.17x)
- Interest coverage is weak at 1.6x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | JINDALSTEL | 1116.05 | 41.88 | 113846.93 | 0.18 | 843.80 | -43.60 | 15482.13 | 25.93 | 8.92 | 17.18 |
| 2. | LLOYDSME | 1891.05 | 22.34 | 106448.52 | 0.05 | 1733.89 | 170.25 | 7354.40 | 209.39 | 27.59 | 38.26 |
| 3. | JAIBALAJI | 65.59 | 20.43 | 5983.46 | 0.00 | 26.48 | -82.71 | 1353.35 | -13.06 | 36.09 | 5.31 |
| 4. | RSL | 165.75 | 0.00 | 1385.13 | 0.30 | 20.20 | 144.24 | 306.54 | 23.65 | 31.72 | 9.37 |
| 5. | STEELXIND | 10.54 | 346.32 | 1344.40 | 0.00 | 150.26 | — | 2697.14 | — | 11.97 | 12.70 |
| 6. | SALSTEEL | 78.60 | 0.00 | 1137.87 | 0.00 | 30.90 | 419.21 | 873.70 | 584.99 | 4.89 | 15.51 |
| 7. | VRAJ | 122.50 | 11.25 | 404.04 | 0.00 | 11.51 | 51.65 | 193.83 | 40.14 | 18.45 | 11.17 |
| 8. | VASWANI | 49.09 | 0.00 | 153.79 | 0.00 | 2.52 | — | 91.74 | — | 9.77 | 5.72 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 251 | 269 | 256 | 313 | 264 | 261 | 328 | 291 | 300 | 232 | 240 | 287 | 270 | |
| 231 | 250 | 233 | 279 | 239 | 234 | 288 | 259 | 269 | 204 | 218 | 238 | 256 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 1 | 1 | 1 | 0 | 2 | 0 | 0 | 17 | 5 | 1 | 1 | 0 | 1 |
| Interest | 21 | 18 | 19 | 19 | 19 | 18 | 18 | 19 | 19 | 19 | 14 | 18 | 14 |
| Depreciation | 6 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 6 |
| -5 | -4 | 0 | 10 | 3 | 3 | 16 | 24 | 10 | 2 | 2 | 26 | 15 | |
| Tax % | -0.00% | -0.00% | 0.00% | -94.87% | 0.00% | 0.00% | 0.00% | 80.39% | 0.00% | 0.00% | 0.00% | 51.72% | 0.00% |
| Net Profit | -5 | -4 | 0 | 20 | 3 | 3 | 16 | 5 | 10 | 2 | 2 | 12 | 15 |
| -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Equity Capital | 119 | 119 | 119 | 120 | 120 | 120 | 120 | 120 | 120 | 125 | 125 | 125 | 128 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 119 | 119 | 119 | 120 | 120 | 120 | 120 | 120 | 120 | 125 | 125 | 125 | 128 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 251
- 231
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 21
- Depreciation
- 6
- -5
- Tax %
- -0.00%
- Net Profit
- -5
- -0
- Equity Capital
- 119
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 119
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 269
- 250
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 18
- Depreciation
- 5
- -4
- Tax %
- -0.00%
- Net Profit
- -4
- -0
- Equity Capital
- 119
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 119
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 256
- 233
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 19
- Depreciation
- 5
- 0
- Tax %
- 0.00%
- Net Profit
- 0
- 0
- Equity Capital
- 119
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 119
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 313
- 279
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 19
- Depreciation
- 5
- 10
- Tax %
- -94.87%
- Net Profit
- 20
- 0
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 264
- 239
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 19
- Depreciation
- 6
- 3
- Tax %
- 0.00%
- Net Profit
- 3
- 0
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 261
- 234
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 18
- Depreciation
- 6
- 3
- Tax %
- 0.00%
- Net Profit
- 3
- 0
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 328
- 288
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 18
- Depreciation
- 6
- 16
- Tax %
- 0.00%
- Net Profit
- 16
- 0
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 291
- 259
- Operating Profit
- —
- OPM %
- —
- Other Income
- 17
- Interest
- 19
- Depreciation
- 6
- 24
- Tax %
- 80.39%
- Net Profit
- 5
- 0
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 300
- 269
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 19
- Depreciation
- 7
- 10
- Tax %
- 0.00%
- Net Profit
- 10
- 0
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 120
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 232
- 204
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 19
- Depreciation
- 7
- 2
- Tax %
- 0.00%
- Net Profit
- 2
- 0
- Equity Capital
- 125
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 125
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 240
- 218
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 14
- Depreciation
- 7
- 2
- Tax %
- 0.00%
- Net Profit
- 2
- 0
- Equity Capital
- 125
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 125
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 287
- 238
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 18
- Depreciation
- 7
- 26
- Tax %
- 51.72%
- Net Profit
- 12
- 0
- Equity Capital
- 125
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 125
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 270
- 256
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 14
- Depreciation
- 6
- 15
- Tax %
- 0.00%
- Net Profit
- 15
- 0
- Equity Capital
- 128
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 128
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,271 | 922 | 1,024 | 781 | 898 | 1,099 | 1,375 | 1,091 | 1,144 | 1,059 | 1,029 | |
| 1,197 | 933 | 1,009 | 715 | 795 | 995 | 1,281 | 997 | 1,020 | 928 | 915 | |
| Operating Profit | 82 | -3 | 29 | 81 | 140 | 126 | 102 | 100 | 144 | 138 | — |
| OPM % | 6 | -0 | 3 | 10 | 16 | 11 | 7 | 9 | 13 | 13 | — |
| Other Income | 8 | 8 | 14 | 15 | 36 | 22 | 7 | 6 | 20 | 7 | 3 |
| Interest | 157 | 136 | 10 | 3 | 26 | 88 | 106 | 78 | 75 | 69 | 65 |
| Depreciation | 30 | 29 | 30 | 27 | 25 | 24 | 24 | 21 | 24 | 28 | 27 |
| -159 | -215 | -17 | 39 | 143 | 14 | -28 | 1 | 45 | 40 | 45 | |
| Tax % | 1 | 21 | -114 | -64 | 2 | -704 | -108 | -756 | 43 | 33 | 29 |
| Net Profit | -157 | -170 | -37 | 64 | 140 | 116 | -59 | 11 | 26 | 27 | 32 |
| EPS | 0 | 0 | 0 | 0 | 17 | 13 | -1 | 0 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -2 | -2 | -0 | 1 | 2 | 1 | -1 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | -2 | -2 | -0 | 1 | 2 | 1 | -1 | 0 | 0 | 0 | — |
Mar 2017
- 1,271
- 1,197
- Operating Profit
- 82
- OPM %
- 6
- Other Income
- 8
- Interest
- 157
- Depreciation
- 30
- -159
- Tax %
- 1
- Net Profit
- -157
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
Mar 2018
- 922
- 933
- Operating Profit
- -3
- OPM %
- -0
- Other Income
- 8
- Interest
- 136
- Depreciation
- 29
- -215
- Tax %
- 21
- Net Profit
- -170
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -2
Mar 2019
- 1,024
- 1,009
- Operating Profit
- 29
- OPM %
- 3
- Other Income
- 14
- Interest
- 10
- Depreciation
- 30
- -17
- Tax %
- -114
- Net Profit
- -37
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2020
- 781
- 715
- Operating Profit
- 81
- OPM %
- 10
- Other Income
- 15
- Interest
- 3
- Depreciation
- 27
- 39
- Tax %
- -64
- Net Profit
- 64
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2021
- 898
- 795
- Operating Profit
- 140
- OPM %
- 16
- Other Income
- 36
- Interest
- 26
- Depreciation
- 25
- 143
- Tax %
- 2
- Net Profit
- 140
- EPS
- 17
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2022
- 1,099
- 995
- Operating Profit
- 126
- OPM %
- 11
- Other Income
- 22
- Interest
- 88
- Depreciation
- 24
- 14
- Tax %
- -704
- Net Profit
- 116
- EPS
- 13
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2023
- 1,375
- 1,281
- Operating Profit
- 102
- OPM %
- 7
- Other Income
- 7
- Interest
- 106
- Depreciation
- 24
- -28
- Tax %
- -108
- Net Profit
- -59
- EPS
- -1
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2024
- 1,091
- 997
- Operating Profit
- 100
- OPM %
- 9
- Other Income
- 6
- Interest
- 78
- Depreciation
- 21
- 1
- Tax %
- -756
- Net Profit
- 11
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2025
- 1,144
- 1,020
- Operating Profit
- 144
- OPM %
- 13
- Other Income
- 20
- Interest
- 75
- Depreciation
- 24
- 45
- Tax %
- 43
- Net Profit
- 26
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2026
- 1,059
- 928
- Operating Profit
- 138
- OPM %
- 13
- Other Income
- 7
- Interest
- 69
- Depreciation
- 28
- 40
- Tax %
- 33
- Net Profit
- 27
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
TTM
- 1,029
- 915
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 65
- Depreciation
- 27
- 45
- Tax %
- 29
- Net Profit
- 32
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- -4%
- 5 Years:
- 3%
- 3 Years:
- -8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 14%
- 5 Years:
- -28%
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 6%
- 3 Years:
- -1%
- 1 Year:
- 8%
RETURN ON EQUITY
- 10 Years:
- -3%
- 5 Years:
- 13%
- 3 Years:
- 5%
- Last Year:
- 5%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 76 | 76 | 76 | 76 | 80 | 88 | 104 | 120 | 120 | 125 |
| 222 | 52 | 15 | 80 | 222 | 392 | 403 | 519 | 545 | 631 | |
| 783 | 914 | 898 | 911 | 25 | 96 | 71 | 42 | 118 | 107 | |
| Trade Payables | 108 | 97 | 136 | 109 | 95 | 81 | 143 | 126 | 141 | 107 |
| 527 | 394 | 302 | 212 | 567 | 389 | 371 | 412 | 331 | 385 | |
| Total Liabilities | 1,716 | 1,533 | 1,428 | 1,387 | 989 | 1,047 | 1,092 | 1,218 | 1,254 | 1,353 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 695 | 717 | 691 | 666 | 612 | 596 | 579 | 570 | 613 | 590 | |
| Capital Work in Progress | 54 | 5 | 5 | 4 | 6 | 7 | 13 | 30 | 3 | 6 |
| 636 | 579 | 593 | 577 | 194 | 237 | 282 | 296 | 306 | 396 | |
| 0 | 0 | 0 | 0 | 55 | 92 | 0 | 175 | 192 | 221 | |
| Cash & Bank | 16 | 8 | 4 | 26 | 5 | 15 | 19 | 20 | 21 | 16 |
| 313 | 223 | 135 | 114 | 117 | 99 | 199 | 128 | 118 | 124 | |
| Total Assets | 1,716 | 1,533 | 1,428 | 1,387 | 989 | 1,047 | 1,092 | 1,218 | 1,254 | 1,353 |
| Total Debt | 982 | 1,069 | 1,021 | 1,014 | 438 | 440 | 340 | 382 | 358 | 418 |
| Net Working Capital | -177 | -425 | -441 | -382 | 102 | 120 | 75 | 326 | 276 | 398 |
| Contingent Liabilities | 26 | 58 | 67 | 61 | 59 | 62 | 70 | 76 | 76 | 74 |
| Book Value per Share | 8.80 | -13.59 | -18.56 | -10.05 | 7.85 | 29.26 | 2.76 | 3.48 | 3.85 | 4.35 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Total Debt | 982 | 1,069 | 1,021 | 1,014 | 438 | 440 | 340 | 382 | 358 | 418 |
| Net Working Capital | -177 | -425 | -441 | -382 | 102 | 120 | 75 | 326 | 276 | 398 |
| Contingent Liabilities | 26 | 58 | 67 | 61 | 59 | 62 | 70 | 76 | 76 | 74 |
| Book Value per Share | 8.80 | -13.59 | -18.56 | -10.05 | 7.85 | 29.26 | 2.76 | 3.48 | 3.85 | 4.35 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Mar 2017
- Equity Capital
- 76
- 222
- 783
- Trade Payables
- 108
- 527
- Total Liabilities
- 1,716
- 695
- Capital Work in Progress
- 54
- 636
- 0
- Cash & Bank
- 16
- 313
- Total Assets
- 1,716
- Total Debt
- 982
- Net Working Capital
- -177
- Contingent Liabilities
- 26
- Book Value per Share
- 8.80
- Face Value
- 10.00
- Total Debt
- 982
- Net Working Capital
- -177
- Contingent Liabilities
- 26
- Book Value per Share
- 8.80
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 76
- 52
- 914
- Trade Payables
- 97
- 394
- Total Liabilities
- 1,533
- 717
- Capital Work in Progress
- 5
- 579
- 0
- Cash & Bank
- 8
- 223
- Total Assets
- 1,533
- Total Debt
- 1,069
- Net Working Capital
- -425
- Contingent Liabilities
- 58
- Book Value per Share
- -13.59
- Face Value
- 10.00
- Total Debt
- 1,069
- Net Working Capital
- -425
- Contingent Liabilities
- 58
- Book Value per Share
- -13.59
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 76
- 15
- 898
- Trade Payables
- 136
- 302
- Total Liabilities
- 1,428
- 691
- Capital Work in Progress
- 5
- 593
- 0
- Cash & Bank
- 4
- 135
- Total Assets
- 1,428
- Total Debt
- 1,021
- Net Working Capital
- -441
- Contingent Liabilities
- 67
- Book Value per Share
- -18.56
- Face Value
- 10.00
- Total Debt
- 1,021
- Net Working Capital
- -441
- Contingent Liabilities
- 67
- Book Value per Share
- -18.56
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 76
- 80
- 911
- Trade Payables
- 109
- 212
- Total Liabilities
- 1,387
- 666
- Capital Work in Progress
- 4
- 577
- 0
- Cash & Bank
- 26
- 114
- Total Assets
- 1,387
- Total Debt
- 1,014
- Net Working Capital
- -382
- Contingent Liabilities
- 61
- Book Value per Share
- -10.05
- Face Value
- 10.00
- Total Debt
- 1,014
- Net Working Capital
- -382
- Contingent Liabilities
- 61
- Book Value per Share
- -10.05
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 80
- 222
- 25
- Trade Payables
- 95
- 567
- Total Liabilities
- 989
- 612
- Capital Work in Progress
- 6
- 194
- 55
- Cash & Bank
- 5
- 117
- Total Assets
- 989
- Total Debt
- 438
- Net Working Capital
- 102
- Contingent Liabilities
- 59
- Book Value per Share
- 7.85
- Face Value
- 10.00
- Total Debt
- 438
- Net Working Capital
- 102
- Contingent Liabilities
- 59
- Book Value per Share
- 7.85
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 88
- 392
- 96
- Trade Payables
- 81
- 389
- Total Liabilities
- 1,047
- 596
- Capital Work in Progress
- 7
- 237
- 92
- Cash & Bank
- 15
- 99
- Total Assets
- 1,047
- Total Debt
- 440
- Net Working Capital
- 120
- Contingent Liabilities
- 62
- Book Value per Share
- 29.26
- Face Value
- 10.00
- Total Debt
- 440
- Net Working Capital
- 120
- Contingent Liabilities
- 62
- Book Value per Share
- 29.26
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 104
- 403
- 71
- Trade Payables
- 143
- 371
- Total Liabilities
- 1,092
- 579
- Capital Work in Progress
- 13
- 282
- 0
- Cash & Bank
- 19
- 199
- Total Assets
- 1,092
- Total Debt
- 340
- Net Working Capital
- 75
- Contingent Liabilities
- 70
- Book Value per Share
- 2.76
- Face Value
- 1.00
- Total Debt
- 340
- Net Working Capital
- 75
- Contingent Liabilities
- 70
- Book Value per Share
- 2.76
- Face Value
- 1.00
Mar 2024
- Equity Capital
- 120
- 519
- 42
- Trade Payables
- 126
- 412
- Total Liabilities
- 1,218
- 570
- Capital Work in Progress
- 30
- 296
- 175
- Cash & Bank
- 20
- 128
- Total Assets
- 1,218
- Total Debt
- 382
- Net Working Capital
- 326
- Contingent Liabilities
- 76
- Book Value per Share
- 3.48
- Face Value
- 1.00
- Total Debt
- 382
- Net Working Capital
- 326
- Contingent Liabilities
- 76
- Book Value per Share
- 3.48
- Face Value
- 1.00
Mar 2025
- Equity Capital
- 120
- 545
- 118
- Trade Payables
- 141
- 331
- Total Liabilities
- 1,254
- 613
- Capital Work in Progress
- 3
- 306
- 192
- Cash & Bank
- 21
- 118
- Total Assets
- 1,254
- Total Debt
- 358
- Net Working Capital
- 276
- Contingent Liabilities
- 76
- Book Value per Share
- 3.85
- Face Value
- 1.00
- Total Debt
- 358
- Net Working Capital
- 276
- Contingent Liabilities
- 76
- Book Value per Share
- 3.85
- Face Value
- 1.00
Mar 2026
- Equity Capital
- 125
- 631
- 107
- Trade Payables
- 107
- 385
- Total Liabilities
- 1,353
- 590
- Capital Work in Progress
- 6
- 396
- 221
- Cash & Bank
- 16
- 124
- Total Assets
- 1,353
- Total Debt
- 418
- Net Working Capital
- 398
- Contingent Liabilities
- 74
- Book Value per Share
- 4.35
- Face Value
- 1.00
- Total Debt
- 418
- Net Working Capital
- 398
- Contingent Liabilities
- 74
- Book Value per Share
- 4.35
- Face Value
- 1.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -149 | 50 | 60 | 37 | 79 | 5 | 138 | -48 | 97 | -38 | |
| Cash from Investing | -6 | -2 | -3 | -2 | 13 | 9 | -14 | -49 | -15 | 8 |
| Cash from Financing | 151 | -49 | -58 | -10 | -116 | -1 | -120 | 98 | -81 | 25 |
| -4 | -0 | -1 | 25 | -23 | 13 | 4 | 1 | 1 | -5 | |
| Free Cash Flow | -284 | 49 | 57 | 35 | 79 | -1 | 126 | -72 | 82 | -46 |
| OCF / Net Profit | 0.95 | -0.30 | -1.63 | 0.57 | 0.57 | 0.05 | -2.34 | -4.41 | 3.73 | -1.41 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -63 | 220 | 297 | 167 | 214 | 89 |
| OCF / Net Profit | 0.95 | -0.30 | -1.63 | 0.57 | 0.57 | 0.05 | -2.34 | -4.41 | 3.73 | -1.41 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -63 | 220 | 297 | 167 | 214 | 89 |
Mar 2017
- -149
- Cash from Investing
- -6
- Cash from Financing
- 151
- -4
- Free Cash Flow
- -284
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.95
- Cumulative 5-Year FCF
- 0
Mar 2018
- 50
- Cash from Investing
- -2
- Cash from Financing
- -49
- -0
- Free Cash Flow
- 49
- OCF / Net Profit
- -0.30
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.30
- Cumulative 5-Year FCF
- 0
Mar 2019
- 60
- Cash from Investing
- -3
- Cash from Financing
- -58
- -1
- Free Cash Flow
- 57
- OCF / Net Profit
- -1.63
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -1.63
- Cumulative 5-Year FCF
- 0
Mar 2020
- 37
- Cash from Investing
- -2
- Cash from Financing
- -10
- 25
- Free Cash Flow
- 35
- OCF / Net Profit
- 0.57
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.57
- Cumulative 5-Year FCF
- 0
Mar 2021
- 79
- Cash from Investing
- 13
- Cash from Financing
- -116
- -23
- Free Cash Flow
- 79
- OCF / Net Profit
- 0.57
- Cumulative 5-Year FCF
- -63
- OCF / Net Profit
- 0.57
- Cumulative 5-Year FCF
- -63
Mar 2022
- 5
- Cash from Investing
- 9
- Cash from Financing
- -1
- 13
- Free Cash Flow
- -1
- OCF / Net Profit
- 0.05
- Cumulative 5-Year FCF
- 220
- OCF / Net Profit
- 0.05
- Cumulative 5-Year FCF
- 220
Mar 2023
- 138
- Cash from Investing
- -14
- Cash from Financing
- -120
- 4
- Free Cash Flow
- 126
- OCF / Net Profit
- -2.34
- Cumulative 5-Year FCF
- 297
- OCF / Net Profit
- -2.34
- Cumulative 5-Year FCF
- 297
Mar 2024
- -48
- Cash from Investing
- -49
- Cash from Financing
- 98
- 1
- Free Cash Flow
- -72
- OCF / Net Profit
- -4.41
- Cumulative 5-Year FCF
- 167
- OCF / Net Profit
- -4.41
- Cumulative 5-Year FCF
- 167
Mar 2025
- 97
- Cash from Investing
- -15
- Cash from Financing
- -81
- 1
- Free Cash Flow
- 82
- OCF / Net Profit
- 3.73
- Cumulative 5-Year FCF
- 214
- OCF / Net Profit
- 3.73
- Cumulative 5-Year FCF
- 214
Mar 2026
- -38
- Cash from Investing
- 8
- Cash from Financing
- 25
- -5
- Free Cash Flow
- -46
- OCF / Net Profit
- -1.41
- Cumulative 5-Year FCF
- 89
- OCF / Net Profit
- -1.41
- Cumulative 5-Year FCF
- 89
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | -20.68 | -22.39 | -4.83 | 8.46 | 17.41 | 13.22 | -0.57 | 0.09 | 0.22 | 0.22 |
| Book Value (₹) | 8.80 | -13.59 | -18.56 | -10.05 | 7.85 | 29.26 | 2.76 | 3.48 | 3.85 | 4.35 |
| 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 (₹) | -1.68 | -1.86 | -0.09 | 1.20 | 2.05 | 1.59 | -0.33 | 0.27 | 0.41 | 0.44 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 6.14% | -0.28% | 2.84% | 10.37% | 11.53% | 9.46% | 7.32% | 8.62% | 10.82% | 12.37% |
| Net Margin % | -11.81% | -18.27% | -3.57% | 8.20% | 15.55% | 10.58% | -4.24% | 1.00% | 2.27% | 2.55% |
| ROE % | -95.70% | 0.00% | 0.00% | 0.00% | 0.00% | 72.61% | -21.62% | 3.09% | 5.91% | 5.38% |
| ROCE % | -0.14% | -7.86% | -0.78% | 4.69% | 23.47% | 16.97% | 11.49% | 10.84% | 14.27% | 11.97% |
| -8.77% | -10.47% | -2.48% | 4.57% | 11.78% | 11.44% | -5.50% | 0.94% | 2.10% | 2.07% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 66 | 61 | 24 | 18 | 19 | 24 | 27 | 48 | 59 | 71 |
| Inventory Days | 186 | 238 | 208 | 272 | 156 | 71 | 68 | 97 | 96 | 121 |
| Payable Days | 116 | 47 | 50 | 73 | 53 | 36 | 35 | 56 | 55 | 57 |
| 136 | 252 | 182 | 217 | 122 | 60 | 60 | 89 | 100 | 135 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 14.69x | -10.35x | -7.24x | -13.28x | 6.94x | 1.71x | 1.19x | 0.92x | 0.78x | 0.77x |
| Interest Coverage (x) | -0.01x | -0.58x | -0.72x | 12.29x | 6.44x | 1.16x | 0.73x | 1.02x | 1.61x | 1.58x |
| 0.84x | 0.65x | 0.61x | 0.65x | 1.46x | 1.43x | 1.20x | 2.47x | 1.87x | 2.26x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -23.95% | -27.45% | 11.05% | -23.74% | 15.06% | 22.38% | 25.10% | -20.66% | 4.83% | -7.39% |
| Operating Profit Growth % | -49.89% | -103.17% | 1225.51% | 179.54% | 71.72% | -9.56% | -19.52% | -1.22% | 42.97% | -3.88% |
| Net Profit Growth % | -2226.44% | -8.25% | 78.44% | 275.29% | 117.70% | -16.78% | -150.52% | 118.50% | 138.24% | 4.07% |
| 0.00% | 0.00% | 0.00% | 0.00% | 105.78% | -24.05% | 0.00% | 116.06% | 138.19% | -0.05% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.36x | 1.81x | 0.00x | 152.04x | 35.94x | 32.72x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 7.98x | 8.20x | 0.00x | 3.97x | 2.02x | 1.63x |
| 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 | 6.71x | 20.08x | 0.00x | 20.09x | 8.83x | 9.30x |
Mar 2017
- EPS (₹)
- -20.68
- Book Value (₹)
- 8.80
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -1.68
- Operating Margin %
- 6.14%
- Net Margin %
- -11.81%
- ROE %
- -95.70%
- ROCE %
- -0.14%
- -8.77%
- Debtor Days
- 66
- Inventory Days
- 186
- Payable Days
- 116
- 136
- Debt to Equity (x)
- 14.69x
- Interest Coverage (x)
- -0.01x
- 0.84x
- Revenue Growth %
- -23.95%
- Operating Profit Growth %
- -49.89%
- Net Profit Growth %
- -2226.44%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- -22.39
- Book Value (₹)
- -13.59
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -1.86
- Operating Margin %
- -0.28%
- Net Margin %
- -18.27%
- ROE %
- 0.00%
- ROCE %
- -7.86%
- -10.47%
- Debtor Days
- 61
- Inventory Days
- 238
- Payable Days
- 47
- 252
- Debt to Equity (x)
- -10.35x
- Interest Coverage (x)
- -0.58x
- 0.65x
- Revenue Growth %
- -27.45%
- Operating Profit Growth %
- -103.17%
- Net Profit Growth %
- -8.25%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -4.83
- Book Value (₹)
- -18.56
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.09
- Operating Margin %
- 2.84%
- Net Margin %
- -3.57%
- ROE %
- 0.00%
- ROCE %
- -0.78%
- -2.48%
- Debtor Days
- 24
- Inventory Days
- 208
- Payable Days
- 50
- 182
- Debt to Equity (x)
- -7.24x
- Interest Coverage (x)
- -0.72x
- 0.61x
- Revenue Growth %
- 11.05%
- Operating Profit Growth %
- 1225.51%
- Net Profit Growth %
- 78.44%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 8.46
- Book Value (₹)
- -10.05
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.20
- Operating Margin %
- 10.37%
- Net Margin %
- 8.20%
- ROE %
- 0.00%
- ROCE %
- 4.69%
- 4.57%
- Debtor Days
- 18
- Inventory Days
- 272
- Payable Days
- 73
- 217
- Debt to Equity (x)
- -13.28x
- Interest Coverage (x)
- 12.29x
- 0.65x
- Revenue Growth %
- -23.74%
- Operating Profit Growth %
- 179.54%
- Net Profit Growth %
- 275.29%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 17.41
- Book Value (₹)
- 7.85
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.05
- Operating Margin %
- 11.53%
- Net Margin %
- 15.55%
- ROE %
- 0.00%
- ROCE %
- 23.47%
- 11.78%
- Debtor Days
- 19
- Inventory Days
- 156
- Payable Days
- 53
- 122
- Debt to Equity (x)
- 6.94x
- Interest Coverage (x)
- 6.44x
- 1.46x
- Revenue Growth %
- 15.06%
- Operating Profit Growth %
- 71.72%
- Net Profit Growth %
- 117.70%
- 105.78%
- P/E (x)
- 0.36x
- P/B (x)
- 7.98x
- Dividend Yield %
- 0.00%
- 6.71x
Mar 2022
- EPS (₹)
- 13.22
- Book Value (₹)
- 29.26
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.59
- Operating Margin %
- 9.46%
- Net Margin %
- 10.58%
- ROE %
- 72.61%
- ROCE %
- 16.97%
- 11.44%
- Debtor Days
- 24
- Inventory Days
- 71
- Payable Days
- 36
- 60
- Debt to Equity (x)
- 1.71x
- Interest Coverage (x)
- 1.16x
- 1.43x
- Revenue Growth %
- 22.38%
- Operating Profit Growth %
- -9.56%
- Net Profit Growth %
- -16.78%
- -24.05%
- P/E (x)
- 1.81x
- P/B (x)
- 8.20x
- Dividend Yield %
- 0.00%
- 20.08x
Mar 2023
- EPS (₹)
- -0.57
- Book Value (₹)
- 2.76
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.33
- Operating Margin %
- 7.32%
- Net Margin %
- -4.24%
- ROE %
- -21.62%
- ROCE %
- 11.49%
- -5.50%
- Debtor Days
- 27
- Inventory Days
- 68
- Payable Days
- 35
- 60
- Debt to Equity (x)
- 1.19x
- Interest Coverage (x)
- 0.73x
- 1.20x
- Revenue Growth %
- 25.10%
- Operating Profit Growth %
- -19.52%
- Net Profit Growth %
- -150.52%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 0.09
- Book Value (₹)
- 3.48
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.27
- Operating Margin %
- 8.62%
- Net Margin %
- 1.00%
- ROE %
- 3.09%
- ROCE %
- 10.84%
- 0.94%
- Debtor Days
- 48
- Inventory Days
- 97
- Payable Days
- 56
- 89
- Debt to Equity (x)
- 0.92x
- Interest Coverage (x)
- 1.02x
- 2.47x
- Revenue Growth %
- -20.66%
- Operating Profit Growth %
- -1.22%
- Net Profit Growth %
- 118.50%
- 116.06%
- P/E (x)
- 152.04x
- P/B (x)
- 3.97x
- Dividend Yield %
- 0.00%
- 20.09x
Mar 2025
- EPS (₹)
- 0.22
- Book Value (₹)
- 3.85
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.41
- Operating Margin %
- 10.82%
- Net Margin %
- 2.27%
- ROE %
- 5.91%
- ROCE %
- 14.27%
- 2.10%
- Debtor Days
- 59
- Inventory Days
- 96
- Payable Days
- 55
- 100
- Debt to Equity (x)
- 0.78x
- Interest Coverage (x)
- 1.61x
- 1.87x
- Revenue Growth %
- 4.83%
- Operating Profit Growth %
- 42.97%
- Net Profit Growth %
- 138.24%
- 138.19%
- P/E (x)
- 35.94x
- P/B (x)
- 2.02x
- Dividend Yield %
- 0.00%
- 8.83x
Mar 2026
- EPS (₹)
- 0.22
- Book Value (₹)
- 4.35
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.44
- Operating Margin %
- 12.37%
- Net Margin %
- 2.55%
- ROE %
- 5.38%
- ROCE %
- 11.97%
- 2.07%
- Debtor Days
- 71
- Inventory Days
- 121
- Payable Days
- 57
- 135
- Debt to Equity (x)
- 0.77x
- Interest Coverage (x)
- 1.58x
- 2.26x
- Revenue Growth %
- -7.39%
- Operating Profit Growth %
- -3.88%
- Net Profit Growth %
- 4.07%
- -0.05%
- P/E (x)
- 32.72x
- P/B (x)
- 1.63x
- Dividend Yield %
- 0.00%
- 9.30x
Documents
Announcements
- Updates
2026-08-07 - STEEL EXCHANGE INDIA LIMITED has informed the Exchange regarding 'Payment of interest to holder of Secured Non-Convertible Debenture - Submission under Regulation57(1) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)Regulations, 2015'.
- Reply to Clarification- Financial results
2026-08-05 - The Exchange had sought clarification from STEEL EXCHANGE INDIA LIMITED for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Jun 2026
Aug 2025
May 2021