India Homes (BSE: INDIAHOMES) had a P/E of 43.3× on 6 Nov 2026, above the industry P/E of 19.9×, and the shares are 20% below their 52-week high. Sales grew 73% a year over 3 years, with ROCE of 22% and ROE of 52%, though net profit is above operating profit, which points to a one-off gain. Debt is 3.50× equity. It is a small-cap company with a market cap of ₹1,018 Cr, ranked 59th of 150 Steel companies by market cap; the shares rose 104% over the past year.
- ₹25.41
- ₹25.99
- ₹25.31
- ₹25.90
- 1.1 L
Health check
- ReturnsAhead
+103.9% over a year, better than 7 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthStrong
Sales +73.3% a year over 3 years.
- ProfitabilityStrong
ROCE 22.4% vs peer median 18.7%.
- Balance sheetStretched
Debt 3.50× equity, interest covered 5.1×, Piotroski 7 of 9.
- Red flags3 to check
Debt is 3.50× equity.
Small cap
High beta
Key metrics
- Market cap
- ₹1,018 Cr
- Small cap
- P/E
- 43.3
- Industry 19.9
- Price to book
- 22.61
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- 52.3%
- Peers 23.4%
- ROCE
- 22.4%
- Peers 18.7%
- Debt to equity
- 3.50
- Debt ₹158 Cr
- EPS (TTM)
- ₹0.59
- OPM (TTM)
- −709.3%
- Net margin 96.3%
- Sales growth
- +1152.7%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 41.57
- EV/EBITDA 64.7
Strengths and risks
Strengths
- Return on equity of 52.3%.
- Return on capital employed of 22.4%.
- Quarterly sales up 1152.7% on a year ago.
Risks to check
- Debt is 3.50× equity.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
- P/E of 43.3 against an industry P/E of 19.9.
About India Homes
India Homes Limited engages in the manufacture and trading of stainless-steel and allied products primarily in India. Its product portfolio includes hot rolled products, including wire rods, round bars, cast billets, rolled billets, and cut billets; bright bar products; and wires. The company was formerly known as India Steel Works Limited and changed its name to India Homes Limited in September 2025. India Steel Works Limited was founded in 1957 and is…
- Headquarters
- Mumbai
- Employees
- 5
- Sector
- Basic Materials
- ISIN
- INE072A01029
- Website
- indiahomesltd.com
Price range
- Avg volume (3M)
- 7.3 L
- 1-year return
- plus 103.9%
- From 52-week high
- minus 19.9%
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% |
| INDIAHOMESIndia Homes | 25.57 | minus 1.27% | 1,018 | 43.3 | 53.1 | 22.4% | −709.3% | 3.50 | 73.3% | plus 103.9% |
| 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 | – | – | 24.5 | – | |
| 1 | – | – | 1.3 | – | |
| −1 | −1.3 | −0.7 | 23.2 | −1.6 | |
| −5196.8% | – | – | 94.8% | – | |
| 0.1 | 0.1 | 1.4 | 1.5 | 0.2 | |
| 0.6 | 1.9 | 0.3 | 1.8 | 1.8 | |
| 0 | 0 | 0 | 0 | 0 | |
| – | – | – | – | 6.7 | |
| −1.5 | −3.1 | 0.4 | 22.9 | 3.4 | |
| −1.5 | −3.1 | 0.4 | 22.9 | 3.4 | |
| -0.04 | -0.08 | 0.01 | 0.57 | 0.09 |
Profit & loss
- Sales CAGR 3Y
- +73.3%
- ROE
- 52.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.7 | 0.8 | 0 | 24.5 | |
| – | minus 82.7% | minus 99.1% | +326606.7% | |
| 21.7 | 6.7 | 5.2 | 3.6 | |
| −17 | −5.9 | −5.2 | 20.9 | |
| −360.3% | −720.3% | −68917.3% | 85.1% | |
| 0.3 | 6.4 | −1.7 | 2.5 | |
| 8.2 | 10.1 | 4.2 | 4.6 | |
| 7.5 | 7.6 | 6.9 | 0.1 | |
| −3.6 | 5.6 | 4.5 | – | |
| −36 | −11.6 | −13.4 | 18.7 | |
| 0.0% | – | – | – | |
| −36 | −11.6 | −13.4 | 18.7 | |
| -0.90 | -0.29 | -0.34 | 0.47 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 39.8 | 39.8 | 39.8 | 39.8 | |
| 8.7 | −0.1 | −13.4 | 5.2 | |
| 67.4 | 93.1 | 102 | 91.4 | |
| 291 | 270 | 263 | 261 | |
| 407 | 402 | 392 | 397 | |
| 216 | 209 | 202 | 202 | |
| 0 | 0 | 0 | 0 | |
| 0.3 | 0.3 | 0.4 | 0.8 | |
| 190 | 193 | 190 | 194 | |
| 407 | 402 | 392 | 397 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1 | −21.9 | −6.3 | 12.9 | |
| 0.1 | −0 | −0 | −0 | |
| 1 | 21.9 | 6.3 | −12.5 | |
| 0 | −0 | 0 | 0.4 | |
| −1 | −21.9 | −6.3 | 12.9 |
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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