On 6 Nov 2026, Panchmahal Steel was priced at ₹301.95, or 144.5× trailing earnings, against an industry P/E of 19.9×, and the shares are 11% below their 52-week high. Sales fell 7.7% a year over 3 years; its ROCE of 3.3% is the lowest among the 7 largest Steel peers. Debt is 0.25× equity. It is a small-cap company with a market cap of ₹576 Cr, ranked 72nd of 150 Steel companies by market cap; the shares rose 5.0% over the past year.
- ₹306.95
- ₹306.95
- ₹290.00
- ₹301.05
- 10
Health check
- ReturnsBehind
+5.0% over a year, better than 2 of 7 peers.
- Price tagPricier
P/E 144.5 vs industry 19.9.
- GrowthShrinking
Sales −7.7% a year over 3 years.
- ProfitabilityWeak
ROCE 3.3% vs peer median 18.7%.
- Balance sheetStretched
Debt 0.25× equity, interest covered 1.2×, Piotroski 6 of 9.
- Red flags3 to check
Return on equity is low at 5.4%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹576 Cr
- Small cap
- P/E
- 144.5
- Industry 19.9
- Price to book
- 3.62
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- 5.4%
- Peers 23.4%
- ROCE
- 3.3%
- Peers 18.7%
- Debt to equity
- 0.25
- Debt ₹40 Cr
- EPS (TTM)
- ₹2.09
- Face value ₹10
- OPM (TTM)
- 7.2%
- Net margin 2.1%
- Sales growth
- +7.3%
- Latest quarter vs a year ago
- Profit growth
- +810.3%
- Latest quarter vs a year ago
- Price to sales
- 1.42
- EV/EBITDA 24.6
Strengths and risks
Strengths
- Quarterly profit up 810.3% on a year ago.
Risks to check
- Return on equity is low at 5.4%.
- P/E of 144.5 against an industry P/E of 19.9.
- Interest coverage of only 2.5×.
About Panchmahal Steel
Panchmahal Steel Limited manufactures and sells stainless steel long products in the form of wire rods, bars, and wires in India and internationally. It offers stainless steel wire rods; cold finished bars for precise engineering; and bars for free machining. The company also provides wires for braiding, weaving, knitting, filters, springs, and ball making, as well as for cold heading and fasteners; heat resistant wires; EPQ wires; fine wires; core wires…
- Headquarters
- Vadodara
- Employees
- 498
- Sector
- Basic Materials
- ISIN
- INE798F01010
- Website
- panchmahalsteel.co.in
Price range
- Avg volume (3M)
- 256
- 1-year return
- plus 5.0%
- From 52-week high
- minus 10.9%
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% |
| PANCHMAHQPanchmahal Steel | 301.95 | plus 0.30% | 576 | 144.5 | 54.8 | 3.3% | 7.2% | 0.25 | −7.7% | plus 5.0% |
| 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 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|---|
| 91.2 | 87.5 | – | 98.1 | 106 | 94 | |
| – | – | – | – | +16.2% | +7.3% | |
| 91.1 | 87.7 | – | 93.7 | 102 | 85.8 | |
| 0.1 | −0.2 | – | 4.4 | 3.8 | 8.2 | |
| 0.1% | −0.2% | – | 4.5% | 3.6% | 8.7% | |
| 0.6 | 1 | – | 0.7 | 0.5 | 0.6 | |
| 1.3 | 1.5 | – | 1.4 | 1.4 | 1 | |
| 2 | 2 | – | 2 | 2 | 2 | |
| −2.7 | −2.6 | – | 1.6 | 0.9 | 5.8 | |
| 24.9% | 26.6% | – | 25.5% | 329.6% | 25.2% | |
| −2 | −1.9 | – | 1.2 | −2.1 | 4.3 | |
| – | -1.01 | 0.29 | 0.64 | -1.11 | 2.27 |
Profit & loss
- Sales CAGR 3Y
- −7.7%
- ROE
- 5.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 487 | 427 | 382 | 383 | |
| – | minus 12.4% | minus 10.5% | +0.4% | |
| 470 | 410 | 367 | 372 | |
| 17.2 | 16.2 | 15.5 | 11.1 | |
| 3.5% | 3.8% | 4.1% | 2.9% | |
| −1.5 | 2.7 | 1.6 | 2.1 | |
| 5.8 | 7 | 4.5 | 4.5 | |
| 8 | 8.1 | 8.1 | 8 | |
| −0 | 0 | 0 | 0 | |
| 1.9 | 3.9 | 4.6 | 0.7 | |
| 27.4% | 24.2% | 27.0% | 407.4% | |
| 1.4 | 3 | 3.3 | −2.3 | |
| – | +115.4% | +12.0% | minus 168.1% | |
| 0.72 | 1.56 | 1.74 | -1.19 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 19.1 | 19.1 | 19.1 | 19.1 | |
| 135 | 138 | 141 | 132 | |
| 76.4 | 39.9 | 49.7 | 35.2 | |
| 65 | 37.6 | 31.8 | 38.5 | |
| 295 | 234 | 242 | 224 | |
| 71.7 | 65.3 | 57.4 | 52.5 | |
| 0.6 | 0.1 | – | 0.7 | |
| 0 | 0 | 0 | 0 | |
| 0 | 0 | 0.3 | 0.3 | |
| 223 | 169 | 184 | 171 | |
| 295 | 234 | 242 | 224 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −30.1 | 39.7 | −5 | 28.6 | |
| −6.5 | 4.9 | 1.2 | −3 | |
| 33.5 | −44.6 | 4.1 | −25.5 | |
| −3.1 | 0 | 0.3 | −0 | |
| −6.6 | −1.7 | −0.2 | −3.1 | |
| −36.7 | 38 | −5.2 | 25.4 | |
| −7.6 | – | – | −5.7 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.