Inducto Steels (BSE: INDCTST) had a P/E of 10.6× on 6 Nov 2026, below the industry P/E of 13.9×, and the shares are 27% below their 52-week high. Sales grew 23% a year over 3 years while net profit fell 2.4%, with ROCE of 5.0% and ROE of 1.3%. Debt is 0.23× equity. It is a small-cap company with a market cap of ₹22 Cr, ranked 11th of 11 Waste Management companies by market cap; the shares fell 15% over the past year.
- ₹53.80
- ₹55.00
- ₹53.80
- ₹53.80
- 85
Health check
- ReturnsAhead
−14.6% over a year, better than 5 of 7 peers.
- Price tagCheaper
P/E 10.6 vs industry 13.9.
- GrowthSlow
Sales +22.6%, profit −2.4% a year over 3 years.
- ProfitabilityWeak
ROCE 5.0% vs peer median 15.0%.
- Balance sheetFair
Debt 0.23× equity, interest covered 1.6×, Piotroski 7 of 9.
- Red flags2 to check
Return on equity is low at 1.3%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹22 Cr
- Small cap
- P/E
- 10.6
- Industry 13.9
- Price to book
- 0.55
- Peers 2.31
- Dividend yield
- 0.00%
- ROE
- 1.3%
- Peers 11.3%
- ROCE
- 5.0%
- Peers 15.0%
- Debt to equity
- 0.23
- Debt ₹9.38 Cr
- EPS (TTM)
- ₹5.15
- OPM (TTM)
- 4.1%
- Net margin 1.0%
- Sales growth
- +73.1%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.11
- EV/EBITDA 1.2
Strengths and risks
Strengths
- Quarterly sales up 73.1% on a year ago.
Risks to check
- Return on equity is low at 1.3%.
- Interest coverage of only 1.8×.
About Inducto Steels
Inducto Steels Limited, a ship recycling company, engages in the ship breaking of old and used ships in India. It is also involved in trading and investment activities; and trades in metal scraps, coal, aluminum foils, graphite electrodes, and other industrial inputs. In addition, it offers products such as waste and scrap iron and steel, HR coil, CRCA coil, TMT bars, MS ingots, MS channels, beams, and PM plates, as well as provides transport and…
- Headquarters
- Mumbai
- Employees
- 58
- Sector
- Industrials
- ISIN
- INE146H01018
- Website
- hariyanagroup.com
Price range
- Avg volume (3M)
- 785
- 1-year return
- minus 14.6%
- From 52-week high
- minus 27.3%
Peers · Waste Management
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NRLNupur Recyclers | 166.88 | minus 0.18% | 1,153 | 67.3 | 68.6 | 13.7% | 9.1% | 0.23 | 4.9% | plus 141.5% |
| AWHCLAntony Waste Handling Cell | 304.45 | minus 0.83% | 864 | 14.8 | 5.5 | 10.6% | 18.1% | 0.50 | 7.2% | minus 40.6% |
| ECORECOEco Recycling | 395.75 | minus 3.33% | 764 | 32.1 | 24.8 | 26.7% | 59.4% | 0.05 | 39.5% | minus 15.4% |
| ORGANICRECOrganic Recycling Systems | 215.55 | minus 1.28% | 336 | 11.7 | 12.1 | 16.3% | 19.2% | 0.37 | 78.1% | plus 31.0% |
| RACERace Eco Chain | 104.84 | minus 1.78% | 181 | 23.0 | 19.2 | – | 1.5% | 1.04 | 32.0% | minus 49.5% |
| RESGENResGen | 46.00 | 0.00% | 96 | 9.5 | 6.9 | 18.7% | 17.1% | 0.02 | 44.6% | minus 43.3% |
| GEMENVIROGEM Enviro Management | 38.00 | minus 2.54% | 86 | 18.1 | 15.4 | 12.3% | 3.0% | 0.09 | 33.8% | minus 27.8% |
| INDCTSTInducto Steels | 54.49 | plus 1.28% | 22 | 10.6 | 1.6 | 5.0% | 4.1% | 0.23 | 22.6% | minus 14.6% |
| Median of 7 peers | – | −1.28% | 336 | 18.1 | 15.4 | 15.0% | 17.1% | 0.23 | 33.8% | −27.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 45.9 | 21.7 | 33.3 | 64.8 | 79.4 | |
| 45.3 | 22.5 | 32.7 | 62.2 | 73.7 | |
| 0.6 | −0.8 | 0.6 | 2.7 | 5.7 | |
| 1.2% | −3.8% | 1.8% | 4.1% | 7.2% | |
| 0 | 0.2 | 0.1 | 0.2 | 0.4 | |
| 0.8 | 0.3 | 0.6 | 0.7 | 4.2 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| −0.3 | −1 | 0 | 2.1 | 1.7 | |
| 25.2% | 27.4% | −143200.0% | 33.3% | 25.3% | |
| −0.2 | −0.7 | 0.1 | 1.4 | 1.3 | |
| -0.62 | -1.86 | 0.36 | 3.45 | 3.20 |
Profit & loss
- Sales CAGR 3Y
- +22.6%
- Profit CAGR 3Y
- −2.4%
- EPS CAGR 3Y
- −2.4%
- ROE
- 1.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 90 | 104 | 159 | 166 | |
| – | +15.6% | +52.4% | +4.5% | |
| 88.3 | 103 | 161 | 163 | |
| 1.7 | 1.4 | −2.5 | 2.3 | |
| 1.9% | 1.3% | −1.6% | 1.4% | |
| 0.2 | 0 | −0.9 | 0 | |
| 0.5 | 0.8 | 0.8 | 1.3 | |
| 0.3 | 0.3 | 0.3 | 0.3 | |
| −0.1 | −0 | −0 | −0 | |
| 1 | 0.3 | −4.7 | 0.7 | |
| 42.7% | 37.0% | 20.6% | 25.7% | |
| 0.6 | 0.2 | −3.7 | 0.5 | |
| – | minus 72.0% | minus 2404.0% | – | |
| 1.44 | 0.40 | -9.26 | 1.34 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4 | 4 | 4 | 4 | |
| 39 | 39.2 | 35.5 | 36 | |
| 15.7 | 3.5 | 16.4 | 9.4 | |
| 0.7 | 0.7 | 0.7 | 92.5 | |
| 59.4 | 47.4 | 56.6 | 142 | |
| 2.7 | 2.3 | 3.8 | 3.5 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 6.3 | 0.4 | 0.3 | 21.2 | |
| 50.4 | 44.6 | 52.5 | 117 | |
| 59.4 | 47.4 | 56.6 | 142 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −6.5 | −1.1 | −11.9 | 29 | |
| −12.7 | 11 | 1.1 | 1.3 | |
| 14.8 | −15.7 | 10.8 | −9.4 | |
| −4.3 | −5.9 | −0.1 | 20.9 | |
| −0.2 | −0.1 | −1.8 | −0.1 | |
| −6.7 | −1.2 | −13.6 | 28.9 |
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
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