SHAH

Shah Metacorp Limited

Stainless-steel and mild-steel long products manufacturer

Industrials›Capital Goods›Industrial Products›Iron & Steel Products

shahmetacorp.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹2.99
Market cap
307 Cr
Stock P/E
22.3
P/B
0.87
ROE (FY26)
3.9%
ROCE (FY26)
3.2%
Operating margin (FY26)
-1.2%
Debt / equity (FY26)
0.78
OCF / EBITDA (3Y)
-828.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Shah Metacorp (formerly Gyscoal Alloys) manufactures and sells S.S. products, which its filings treat as its single reportable business, and it has export customers overseas.

Company snapshot

54thBy market cap

Ranked among 64 companies in Iron & Steel Products.

Segment mix

Reportable segments as of 2024-03-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 59.4% of revenue

SegmentRevenue shareRevenuePBTAssets
Segment Revenue (Income) -Agrochemical
41.0%
19 Cr1 Cr14 Cr
Segment Revenue (Income) Steel and Alloys
59.4%
27 Cr0.17 Cr124 Cr

What we see

Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales21 Cr13 Cr46 Cr46 Cr49 Cr40 Cr41 Cr29 Cr67 Cr50 Cr62 Cr57 Cr
Operating expenses (approx.)21 Cr11 Cr44 Cr43 Cr46 Cr38 Cr39 Cr26 Cr65 Cr49 Cr66 Cr52 Cr
EBITDA0.60 Cr1 Cr2 Cr3 Cr3 Cr2 Cr3 Cr3 Cr2 Cr1 Cr-4 Cr5 Cr
OPM %2.8%11.4%4.7%7.4%5.7%5.8%6.3%11.0%2.5%2.2%-6.7%8.3%
Other income1 Cr0.21 Cr0.17 Cr0.03 Cr0.65 Cr2 Cr0.69 Cr0.71 Cr0.63 Cr2 Cr17 Cr1 Cr
Interest0.0030 Cr0.0006 Cr0.0014 Cr0.0057 Cr0.0030 Cr0.03 Cr0.0057 Cr0.0046 Cr0.32 Cr1 Cr1 Cr0.27 Cr
Depreciation0.92 Cr0.88 Cr0.79 Cr0.83 Cr0.90 Cr0.87 Cr1 Cr1 Cr1 Cr1 Cr1 Cr0.97 Cr
Profit before tax0.76 Cr0.80 Cr2 Cr27 Cr2 Cr3 Cr2 Cr3 Cr0.91 Cr0.93 Cr11 Cr5 Cr
Tax %0.6%3.5%5.2%15.0%0.9%3.8%-66.3%11.1%12.5%23.1%23.3%25.2%
Net profit0.76 Cr0.77 Cr1 Cr23 Cr2 Cr3 Cr4 Cr2 Cr0.79 Cr0.72 Cr8 Cr4 Cr
EPS (₹)₹0.02₹0.02₹0.04₹0.56₹0.10₹0.06₹0.07₹0.04₹0.01₹0.01₹0.09₹0.04

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales173 Cr95 Cr148 Cr31 Cr13 Cr20 Cr40 Cr97 Cr176 Cr208 CrSign in free for the trailing twelve months
Operating expenses (approx.)161 Cr98 Cr157 Cr38 Cr94 Cr30 Cr44 Cr93 Cr165 Cr206 CrSign in free for the trailing twelve months
EBITDA12 Cr-3 Cr-9 Cr-7 Cr-82 Cr-10 Cr-4 Cr4 Cr11 Cr2 CrSign in free for the trailing twelve months
OPM %6.8%-3.4%-6.3%-22.5%-650.6%-47.6%-10.1%3.7%6.3%0.8%Sign in free for the trailing twelve months
Other income0.21 Cr0.16 Cr7 Cr5 Cr0.23 Cr3 Cr7 Cr4 Cr3 Cr20 CrSign in free for the trailing twelve months
Interest12 Cr10 Cr7 Cr2 Cr6 Cr0.54 Cr0.33 Cr0.01 Cr0.04 Cr2 CrSign in free for the trailing twelve months
Depreciation9 Cr8 Cr7 Cr2 Cr5 Cr4 Cr3 Cr4 Cr4 Cr4 CrSign in free for the trailing twelve months
Profit before tax-9 Cr-21 Cr-22 Cr-5 Cr-92 Cr0.37 Cr-0.29 Cr4 Cr35 Cr15 CrSign in free for the trailing twelve months
Tax %35.1%16.1%5.7%8.5%19.3%1637.1%675.0%3.2%7.8%20.4%Sign in free for the trailing twelve months
Net profit-6 Cr-18 Cr-20 Cr-5 Cr-74 Cr-6 Cr2 Cr4 Cr33 Cr12 CrSign in free for the trailing twelve months
EPS (₹)₹-0.38₹-1.08₹-1.30₹0.33₹-4.68₹-0.35₹0.06₹0.11₹0.61₹0.15Sign in free for the trailing twelve months
Dividend payout %——————0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital16 Cr16 Cr16 Cr16 Cr16 Cr16 Cr33 Cr42 Cr59 Cr89 Cr
Reserves60 Cr42 Cr22 Cr8 Cr-66 Cr-47 Cr-16 Cr15 Cr106 Cr217 Cr
Borrowings101 Cr81 Cr74 Cr76 Cr93 Cr79 Cr67 Cr37 Cr18 Cr239 Cr
Other liabilities76 Cr89 Cr87 Cr85 Cr72 Cr39 Cr35 Cr44 Cr15 Cr18 Cr
Total liabilities252 Cr229 Cr198 Cr184 Cr115 Cr87 Cr120 Cr138 Cr198 Cr566 Cr
Fixed assets (net)46 Cr40 Cr34 Cr29 Cr24 Cr21 Cr25 Cr21 Cr28 Cr26 Cr
CWIP——0 Cr0 Cr0 Cr—0 Cr—0 Cr—
Investments——0 Cr0.0026 Cr0 Cr0 Cr0.0026 Cr0 Cr0 Cr45 Cr
Loans & advances——0.13 Cr0.12 Cr0.13 Cr0.02 Cr0.03 Cr0 Cr0 Cr0 Cr
Inventories40 Cr42 Cr33 Cr25 Cr12 Cr15 Cr8 Cr13 Cr8 Cr28 Cr
Trade receivables134 Cr112 Cr110 Cr110 Cr40 Cr20 Cr25 Cr60 Cr131 Cr118 Cr
Cash & bank0.88 Cr0.50 Cr0.32 Cr0.36 Cr0.16 Cr0.33 Cr29 Cr0.34 Cr0.22 Cr2 Cr
Other assets31 Cr34 Cr20 Cr20 Cr38 Cr31 Cr34 Cr44 Cr30 Cr346 Cr
Total assets252 Cr229 Cr198 Cr184 Cr115 Cr87 Cr120 Cr138 Cr198 Cr566 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity4 Cr20 Cr8 Cr—-19 Cr-21 Cr-0.34 Cr-32 Cr-47 Cr-58 Cr
Cash from investing-2 Cr-2 Cr0.84 Cr—0.08 Cr0.12 Cr-7 Cr-0.33 Cr-10 Cr-220 Cr
Cash from financing-0.88 Cr-19 Cr-9 Cr—18 Cr21 Cr35 Cr4 Cr57 Cr279 Cr
Net cash flow0.72 Cr-0.38 Cr-0.18 Cr—-0.20 Cr0.17 Cr28 Cr-28 Cr-0.12 Cr2 Cr
Free cash flow (OCF − Capex)1 Cr19 Cr7 Cr—-19 Cr-21 Cr-7 Cr-32 Cr-57 Cr-60 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %1.6%-7.9%-13.4%-3.2%-203.3%-27.7%0.0%4.7%19.3%3.2%
ROE %-8.0%-30.3%-54.1%-20.3%——9.4%7.4%19.7%3.9%
Debtor days28242827112891164359231226271207
Inventory days1321879145229028675711969
Days payable1781721427906063921571363140
Cash conversion cycle235443220951848253149161260236
OCF / EBITDA %32.3%——————-902.3%-418.8%n.m.
OCF / EBITDA % (3 years)————————-741.8%-828.6%
Debt / equity1.331.391.973.17——3.830.640.110.78
Current ratio1.211.061.000.940.461.021.772.0910.0420.58
Net debt / EBITDA8.44——————10.081.57134.51