Ashnisha Industries (BSE: ASHNI) had a P/E of 225.0× on 6 Nov 2026, above the industry P/E of 19.9×, and the shares are 58% below their 52-week high. Sales and net profit fell 13% and 35% a year over 3 years; its ROCE of 0.3% is the lowest among the 7 largest Steel peers, though net profit is above operating profit, which points to a one-off gain. It carries very little debt. It is a small-cap company with a market cap of ₹60 Cr, ranked 115th of 150 Steel companies by market cap; the shares fell 30% over the past year.
- ₹2.29
- ₹2.29
- ₹2.21
- ₹2.29
- 4.2 L
Health check
- ReturnsBehind
−30.4% over a year, better than 0 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthShrinking
Sales −13.2%, profit −35.1% a year over 3 years.
- ProfitabilityWeak
ROCE 0.3% vs peer median 18.7%.
- Balance sheetFair
Practically debt-free, Piotroski 5 of 9.
- Red flags5 to check
Return on equity is low at 0.3%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹60 Cr
- Small cap
- P/E
- 225.0
- Industry 19.9
- Price to book
- 0.54
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- 0.3%
- Peers 23.4%
- ROCE
- 0.3%
- Peers 18.7%
- Debt to equity
- 0.04
- Debt ₹5.38 Cr
- EPS (TTM)
- ₹0.01
- OPM (TTM)
- −10.2%
- Net margin 1.2%
- Sales growth
- +286.9%
- Latest quarter vs a year ago
- Profit growth
- −66.8%
- Latest quarter vs a year ago
- Price to sales
- 4.31
- EV/EBITDA −43.7
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 286.9% on a year ago.
Risks to check
- Return on equity is low at 0.3%.
- Quarterly profit down 66.8% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 225.0 against an industry P/E of 19.9.
- 58% below its 52-week high.
About Ashnisha Industries
Ashnisha Industries Limited engages in the trading of software, electronic, and IT products. The company operates through four segments: Steel; Trading of Software, Electronic and IT Product; Trading of Goods; and Others. It is also involved in the trading of various steel products and goods, as well as focuses on renewable energy sector, such as solar power project. The company was formerly known as Ashnisha Alloys Limited and changed its name to…
- Headquarters
- Ahmedabad
- Employees
- 2
- Sector
- Basic Materials
- ISIN
- INE694W01024
- Website
- ashnisha.in
Price range
- Avg volume (3M)
- 19.1 L
- 1-year return
- minus 30.4%
- From 52-week high
- minus 58.0%
Peers · Steel
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEELJSW Steel | 1,357.10 | plus 0.11% | 3,31,265 | 11.7 | 12.2 | 18.7% | 17.7% | 0.62 | 3.6% | plus 14.7% |
| TATASTEELTata Steel | 186.30 | plus 2.36% | 2,32,397 | 21.1 | 9.1 | 11.3% | 15.2% | 0.89 | −1.6% | plus 1.5% |
| JINDALSTELJindal Steel | 1,165.00 | plus 1.31% | 1,18,594 | 41.5 | 14.9 | 7.5% | 15.9% | 0.42 | −13.1% | plus 6.4% |
| LLOYDSMELloyds Metals And Energy | 1,785.50 | minus 1.38% | 1,00,482 | 19.1 | 18.8 | 19.4% | 37.4% | 1.23 | 71.3% | plus 37.4% |
| SAILSteel Authority of India | 171.60 | minus 0.41% | 70,880 | 12.6 | 8.1 | 7.2% | 12.9% | 0.50 | 2.0% | plus 24.7% |
| NMDCNMDC | 70.40 | minus 0.01% | 61,894 | 8.3 | 6.2 | 28.4% | 30.0% | 0.19 | 22.0% | minus 5.2% |
| APLAPOLLOAPL Apollo Tubes | 2,185.30 | minus 0.41% | 60,677 | 46.3 | 32.7 | 28.0% | 8.2% | 0.17 | 12.6% | plus 23.3% |
| ASHNIAshnisha Industries | 2.25 | minus 1.75% | 60 | 225.0 | – | 0.3% | −10.2% | 0.04 | −13.2% | minus 30.4% |
| Median of 7 peers | – | −0.01% | 1,00,482 | 19.1 | 12.2 | 18.7% | 15.9% | 0.50 | 3.6% | 14.7% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 0.3 | 4.5 | 2.6 | 5.5 | 1.3 | |
| 0.6 | 4.7 | 2.7 | 6.6 | 1.4 | |
| −0.2 | −0.2 | −0.1 | −1.1 | −0.1 | |
| −72.3% | −3.8% | −4.7% | −19.6% | −4.3% | |
| 0.5 | 0.4 | 0.3 | 1.3 | 0.2 | |
| 0 | – | – | 0 | – | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0 | |
| – | – | – | 90.9% | – | |
| 0.1 | 0.1 | 0.1 | 0 | 0 | |
| 0.01 | 0.00 | 0.00 | – | 0.00 |
Profit & loss
- Sales CAGR 3Y
- −13.2%
- Profit CAGR 3Y
- −35.1%
- EPS CAGR 3Y
- −57.5%
- ROE
- 0.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 19.6 | 12.5 | 4.8 | 12.8 | |
| – | minus 36.5% | minus 61.3% | +165.9% | |
| 19.5 | 12.4 | 6.5 | 13.9 | |
| 0.1 | 0 | −1.7 | −1 | |
| 0.5% | 0.3% | −34.9% | −8.2% | |
| 1.7 | 2.3 | 4.5 | 2.3 | |
| 0 | 0 | 0.6 | 0 | |
| 0.3 | 0.5 | 0.5 | 0.5 | |
| −0.4 | −0.4 | −0.4 | −0.4 | |
| 1.1 | 1.4 | 1.3 | 0.3 | |
| 21.1% | 33.3% | 86.6% | 24.5% | |
| 0.9 | 1 | 0.2 | 0.2 | |
| – | +6.3% | minus 82.3% | +45.1% | |
| 0.13 | 0.08 | 0.02 | 0.01 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9.9 | 10.1 | 10.1 | 26.5 | |
| 46.5 | 50.5 | 50.6 | 83.2 | |
| 1.7 | 3.8 | 46.1 | 5.4 | |
| 26.9 | 29.5 | 21 | 20.6 | |
| 85 | 93.8 | 128 | 136 | |
| 0.1 | 0.1 | 0.4 | 7.4 | |
| – | – | 0.3 | 7.3 | |
| 0.6 | 3.6 | 2.8 | 0.8 | |
| 2.6 | 0.8 | 0.2 | 7.3 | |
| 81.6 | 89.3 | 124 | 113 | |
| 85 | 93.8 | 128 | 136 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −8.9 | 3 | −12.8 | −42.2 | |
| 1.7 | −0.7 | 0.6 | −3.1 | |
| 9.7 | −4 | 11.5 | 52.5 | |
| 2.5 | −1.8 | −0.6 | 7.1 | |
| −0.5 | – | −0.3 | −7 | |
| −8.9 | 3 | −13.1 | −49.2 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.