ZENITHSTL

Zenith Steel Pipes & Industries Limited

Steel pipes manufacturer part of Yash Birla Group

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

zenithsteelpipes.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹5.10
Market cap
73 Cr
Stock P/E
18.1
Operating margin (FY26)
-34.0%

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.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Zenith Steel Pipes manufactures pipes and sells them, along with some services, in India and abroad, reporting a single "Pipes" business segment.

Company snapshot

63rdBy market cap

Ranked among 64 companies in Iron & Steel Products.

What we see

Concerns
  • ✗Interest coverage of -7.3x — earnings barely cover interest payments, which is a warning sign.

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
Sales28 Cr46 Cr43 Cr29 Cr30 Cr36 Cr25 Cr19 Cr14 Cr9 Cr11 Cr7 Cr
Operating expenses (approx.)34 Cr45 Cr36 Cr31 Cr31 Cr36 Cr27 Cr23 Cr19 Cr13 Cr14 Cr7 Cr
EBITDA-7 Cr0.61 Cr7 Cr-3 Cr-0.58 Cr0.01 Cr-2 Cr-4 Cr-5 Cr-4 Cr-3 Cr-0.12 Cr
OPM %-23.5%1.3%15.6%-9.3%-1.9%0.0%-8.2%-23.5%-38.8%-38.5%-23.0%-1.7%
Other income0.42 Cr0.18 Cr5 Cr2 Cr1 Cr0.94 Cr6 Cr7 Cr7 Cr6 Cr4 Cr2 Cr
Interest0.73 Cr0.74 Cr0.73 Cr0.61 Cr0.62 Cr0.63 Cr0.62 Cr0.62 Cr0.63 Cr0.64 Cr0.60 Cr0.61 Cr
Depreciation0.67 Cr0.67 Cr0.57 Cr0.48 Cr0.49 Cr0.49 Cr0.49 Cr0.49 Cr0.47 Cr0.49 Cr0.48 Cr0.48 Cr
Profit before tax-8 Cr-0.68 Cr10 Cr-2 Cr-0.44 Cr-0.20 Cr3 Cr0.96 Cr0.72 Cr1 Cr1 Cr0.44 Cr
Tax %0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Net profit-8 Cr-0.68 Cr10 Cr-2 Cr-0.44 Cr-0.20 Cr3 Cr0.96 Cr0.72 Cr1 Cr1 Cr0.44 Cr
EPS (₹)₹-0.53₹-0.04₹0.69₹-0.13₹-0.03₹-0.01₹0.20₹0.07₹0.05₹0.10₹0.10₹0.03

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales162 Cr170 Cr184 Cr101 Cr78 Cr163 Cr165 Cr143 Cr119 Cr53 CrSign in free for the trailing twelve months
Operating expenses (approx.)181 Cr210 Cr400 Cr130 Cr79 Cr149 Cr177 Cr143 Cr124 Cr70 CrSign in free for the trailing twelve months
EBITDA-19 Cr-41 Cr-216 Cr-29 Cr-2 Cr14 Cr-12 Cr-0.26 Cr-5 Cr-16 CrSign in free for the trailing twelve months
OPM %-11.8%-24.0%-117.9%-28.2%-2.0%8.8%-7.6%-0.2%-4.4%-30.4%Sign in free for the trailing twelve months
Other income0.92 Cr17 Cr14 Cr14 Cr11 Cr2 Cr7 Cr5 Cr10 Cr24 CrSign in free for the trailing twelve months
Interest9 Cr8 Cr7 Cr5 Cr3 Cr7 Cr3 Cr3 Cr2 Cr2 CrSign in free for the trailing twelve months
Depreciation6 Cr7 Cr6 Cr9 Cr3 Cr3 Cr2 Cr3 Cr2 Cr2 CrSign in free for the trailing twelve months
Profit before tax-33 Cr-40 Cr-222 Cr-28 Cr-14 Cr13 Cr-14 Cr-0.70 Cr0.23 Cr4 CrSign in free for the trailing twelve months
Tax %—0.0%0.0%0.0%0.0%12.4%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Net profit-33 Cr-40 Cr-222 Cr-28 Cr-14 Cr12 Cr-14 Cr-0.70 Cr0.23 Cr4 CrSign in free for the trailing twelve months
EPS (₹)₹-2.53₹-3.02₹-16.92₹-2.16₹-0.95₹0.83₹-1.01₹-0.05₹0.02₹0.31Sign in free for the trailing twelve months
Dividend payout %—————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 capital131 Cr131 Cr131 Cr131 Cr142 Cr142 Cr142 Cr142 Cr142 Cr142 Cr
Reserves-219 Cr-260 Cr-474 Cr-383 Cr-396 Cr-384 Cr-398 Cr-399 Cr-399 Cr-391 Cr
Borrowings274 Cr273 Cr259 Cr225 Cr206 Cr205 Cr220 Cr215 Cr215 Cr220 Cr
Other liabilities167 Cr201 Cr313 Cr206 Cr184 Cr223 Cr206 Cr224 Cr200 Cr183 Cr
Total liabilities353 Cr346 Cr229 Cr180 Cr136 Cr187 Cr169 Cr182 Cr159 Cr154 Cr
Fixed assets (net)92 Cr80 Cr74 Cr66 Cr48 Cr44 Cr45 Cr44 Cr42 Cr40 Cr
CWIP13 Cr13 Cr14 Cr0 Cr0 Cr—0.99 Cr0.82 Cr1 Cr1 Cr
Investments0.01 Cr0.01 Cr0.01 Cr0.01 Cr0 Cr0.0020 Cr0.0020 Cr0.0020 Cr0.0020 Cr0.0020 Cr
Loans & advances——67 Cr59 Cr25 Cr26 Cr18 Cr16 Cr15 Cr14 Cr
Inventories13 Cr4 Cr0.97 Cr5 Cr11 Cr28 Cr21 Cr20 Cr8 Cr6 Cr
Trade receivables126 Cr116 Cr29 Cr9 Cr12 Cr50 Cr47 Cr59 Cr57 Cr57 Cr
Cash & bank3 Cr4 Cr4 Cr3 Cr3 Cr1 Cr5 Cr0.43 Cr3 Cr1 Cr
Other assets106 Cr129 Cr39 Cr39 Cr37 Cr37 Cr32 Cr42 Cr33 Cr35 Cr
Total assets353 Cr346 Cr229 Cr180 Cr136 Cr187 Cr169 Cr182 Cr159 Cr154 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 activity7 Cr4 Cr21 Cr25 Cr16 Cr-3 Cr17 Cr5 Cr7 Cr-1 Cr
Cash from investing-2 Cr5 Cr-0.11 Cr14 Cr-0.27 Cr10 Cr-4 Cr-2 Cr-3 Cr-1 Cr
Cash from financing-7 Cr-7 Cr-21 Cr-41 Cr-15 Cr-7 Cr-11 Cr-7 Cr-2 Cr0.42 Cr
Net cash flow-2 Cr2 Cr0.23 Cr-2 Cr0.72 Cr0.11 Cr2 Cr-5 Cr2 Cr-2 Cr
Free cash flow (OCF − Capex)5 Cr4 Cr21 Cr—16 Cr-3 Cr14 Cr3 Cr7 Cr-1 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %——————————
ROE %——————————
Debtor days283249573257112104151173390
Inventory days38113329512470946781
Days payable1802125523204023973084237711069
Cash conversion cycle14147-492-257-250-161-133-179-531-598
OCF / EBITDA %—————-19.9%————
OCF / EBITDA % (3 years)——————n.m.n.m.——
Debt / equity——————0.00———
Current ratio0.590.570.250.270.230.340.300.270.230.23
Net debt / EBITDA—————14.17————