As of 6 Nov 2026, Vraj Iron and Steel trades at 11.6× trailing earnings, below the industry P/E of 19.9×, and the shares are 15% below their 52-week high. Sales grew 4.5% a year over 3 years while net profit fell 16%, with ROCE of 9.5% and ROE of 7.7%. It carries very little debt. It is a small-cap company with a market cap of ₹417 Cr, ranked 77th of 150 Steel companies by market cap; the shares fell 11% over the past year.
- ₹126.35
- ₹129.62
- ₹125.82
- ₹128.87
- 19.3K
Health check
- ReturnsBehind
−10.6% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 11.6 vs industry 19.9.
- GrowthSlow
Sales +4.5%, profit −16.0% a year over 3 years.
- ProfitabilityWeak
ROCE 9.5% vs peer median 18.7%.
- Balance sheetFair
Debt 0.10× equity, interest covered 21.2×, Piotroski 4 of 9.
- Red flags1 to check
Return on equity is low at 7.7%.
Small cap
High beta
Key metrics
- Market cap
- ₹417 Cr
- Small cap
- P/E
- 11.6
- Industry 19.9
- Price to book
- 0.97
- Peers 2.28
- Dividend yield
- 0.00%
- ROE
- 7.7%
- Peers 23.4%
- ROCE
- 9.5%
- Peers 18.7%
- Debt to equity
- 0.10
- Debt ₹43 Cr
- EPS (TTM)
- ₹10.89
- Face value ₹10
- OPM (TTM)
- 9.8%
- Net margin 5.6%
- Sales growth
- +40.1%
- Latest quarter vs a year ago
- Profit growth
- +51.7%
- Latest quarter vs a year ago
- Price to sales
- 0.65
- EV/EBITDA 7.0
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly profit up 51.7% on a year ago.
- Quarterly sales up 40.1% on a year ago.
- P/E of 11.6 against an industry P/E of 19.9.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 7.7%.
About Vraj Iron and Steel
Vraj Iron and Steel Limited engages in the manufacture and sale of sponge iron, MS billets, TMT bars, power and others related items under the Vraj brand primarily in India. It sells its products directly, as well as through brokers and dealers to industrial customers and end-users. The company was incorporated in 2004 and is based in Raipur, India. Vraj Iron and Steel Limited operates as a subsidiary of Gopal Sponge and Power Private Limited.
- Headquarters
- Raipur
- Employees
- 492
- Sector
- Basic Materials
- ISIN
- INE0S2V01010
- Website
- vrajtmt.in
Price range
- Avg volume (3M)
- 16.1K
- 1-year return
- minus 10.6%
- From 52-week high
- minus 14.8%
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% |
| VRAJVraj Iron and Steel | 126.58 | minus 1.78% | 417 | 11.6 | 8.0 | 9.5% | 9.8% | 0.10 | 4.5% | minus 10.6% |
| 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 |
|---|---|---|---|---|---|
| 138 | 133 | 146 | 170 | 194 | |
| 125 | 120 | 141 | 145 | 174 | |
| 13.2 | 13.4 | 5.2 | 24.9 | 19.9 | |
| 9.6% | 10.1% | 3.5% | 14.6% | 10.3% | |
| 2.3 | 2.6 | 2.3 | 4 | 3.4 | |
| 0.2 | 0.4 | 0.7 | 0.8 | 1 | |
| 5.2 | 5.2 | 5.4 | 7 | 7.5 | |
| 10.1 | 10.4 | 1.4 | 21.1 | 14.8 | |
| 24.5% | 25.2% | 18.7% | 26.3% | 22.2% | |
| 7.6 | 7.7 | 1.1 | 15.6 | 11.5 | |
| 2.30 | 2.35 | 0.33 | 4.72 | 3.49 |
Profit & loss
- Sales CAGR 3Y
- +4.5%
- Profit CAGR 3Y
- −16.0%
- EPS CAGR 3Y
- −16.0%
- ROE
- 7.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 516 | 420 | 475 | 588 | |
| – | minus 18.6% | +13.1% | +23.8% | |
| 438 | 343 | 412 | 530 | |
| 77.2 | 76.9 | 62.7 | 57.4 | |
| 15.0% | 18.3% | 13.2% | 9.8% | |
| 4.1 | 6.8 | 5.6 | 10.5 | |
| 3 | 2.4 | 1.6 | 2.1 | |
| 6.4 | 5.8 | 7.9 | 22.9 | |
| 0 | 0.4 | – | −0 | |
| 71.9 | 75.9 | 58.8 | 42.9 | |
| 24.9% | 24.4% | 25.0% | 25.4% | |
| 54 | 57.4 | 44.1 | 32 | |
| – | +6.3% | minus 23.2% | minus 27.4% | |
| 16.37 | 17.41 | 14.28 | 9.70 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.9 | 24.7 | 33 | 33 | |
| 136 | 176 | 364 | 397 | |
| 24.6 | 63.3 | 2.3 | 42.6 | |
| 26.1 | 16.9 | 18.1 | 23.1 | |
| 192 | 281 | 417 | 496 | |
| 59.7 | 142 | 232 | 304 | |
| 6.8 | 94.6 | 36.8 | 30.5 | |
| 1.6 | 0.7 | 2.3 | 3.2 | |
| 0.3 | 0.3 | 1.1 | 0.4 | |
| 123 | 42.5 | 145 | 158 | |
| 192 | 281 | 417 | 496 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 62.9 | 19.2 | 13.6 | 31.1 | |
| −40.4 | −55.5 | −103 | −70.1 | |
| −22.5 | 36.3 | 90.1 | 38.2 | |
| −0 | −0 | 0.8 | −0.7 | |
| −1.6 | −64.2 | −94.9 | −105 | |
| 61.3 | −44.9 | −81.3 | −74 |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.