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National General Industries Ltd (531651)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531651 NSE: Steel & Iron Products | Small Cap | National General Ind Share Price

₹55.65 -1.13 (-1.99%)

As on 02-Jul'26 16:59

National General Industries Ltd (531651)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531651 NSE: Steel & Iron Products | Small Cap | National General Ind Share Price

₹55.65 -1.13 (-1.99%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹25 Cr.
Current Price
₹55.7
52-Week Low / High
₹35 / 73
TTM EPS
₹-1.1
TTM Sales
₹9 Cr.
Book Value per Share
₹81.1
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
24.3
Price to Book (P/B)
0.69
Lower than its 5-year historical median
Price to Sales (P/S)
2.79
Lower than its 5-year historical median
EV/EBITDA
3702.00
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
2.67%
Underperforms industry median
Return on Capital Employed (ROCE)
3.57%
Underperforms industry median
Return on Assets (ROA)
2.42%
Operating Profit Margin
0.5%
Net Profit Margin
9.11%
Gross Profit Margin
15.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-19.2%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-68.67%
Asset Quality
Promoter Holding
74.93%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹32 Cr.
Equity
₹4.5 Cr.
Face Value
₹10
All Time Low / High
₹22.70 / 839.85

National General Industries stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is National General Industries Ltd a good quality company?
National General Industries Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does National General Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of National General Industries Ltd vs industry peers?
National General Industries Ltd revenue CAGR is -11.99%, compared to the industry median CAGR of 7.56%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of National General Industries Ltd?
Promoters hold 74.93% of the National General Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of National General Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.9% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
National General Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 13.8%4%4%2.3%-2.7%21.2%0.9%1.1%9.9%3.6%-
Value Creation
Index
0.0-0.7-0.7-0.8-1.20.5-0.9-0.9-0.3-0.8-

Growth Parameters

Sales 18.115.817.917.719.618.618.313.412.810.49
Sales YoY Gr.--12.7%13.2%-1%10.8%-5.2%-1.7%-26.4%-4.7%-19.2%-
Adj EPS 2.31.20.9-0.5-1.82-0.20.32.21.4-1.1
YoY Gr.--50%-22.4%-155.6%NANA-111.8%NA700%-37%-
BVPS (₹) 43.548.650.751.147.661.362.963.773.776.381.1
Adj Net
Profit
1.30.60.5-0.3-11.1-0.10.21.20.8-0
Cash Flow from Ops. 2.90.90.71.10.6-0.70.31.11.5-0.3-
Debt/CF from Ops. 0.92.43.11.82.9-38.21.50.9-1.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -6%-12%-17.2%-19.2%
Adj EPS -5.8%NANA-37%
BVPS6.4%9.9%6.7%3.6%
Share Price 7.9% 14.4% -11.9% 3.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
6.532.1-1.2-4.34.4-0.50.53.72.1-1.4
Op. Profit
Mgn %
17.77.36.80.8-2.7-3.7-2.2-3.2-3.60.5-22.3
Net Profit
Mgn %
7.14.12.8-1.6-56.1-0.71.19.37.3-5.4
Debt to
Equity
0.10.10.10.10.10.10.10.1000
Working Cap
Days
145156145145109236382523474502194
Cash Conv.
Cycle
69918787615854686474162

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales18.0815.7817.8717.6919.6018.5818.2613.4412.8110.35
Operating Expenses + 14.8914.6716.6617.5420.1319.2718.8413.8813.4910.29
Manufacturing Costs3.463.413.944.874.173.595.055.355.325.49
Material Costs7.829.1510.5110.4413.7514.0211.496.204.891.82
Employee Cost 0.770.881.361.551.521.121.531.671.842.02
Other Costs 2.851.240.850.680.680.530.770.661.450.97
Operating Profit 3.191.111.220.14-0.53-0.69-0.58-0.44-0.680.05
Operating Profit Margin (%) 17.6%7.0%6.8%0.8%-2.7%-3.7%-3.2%-3.2%-5.3%0.5%
Other Income + 0.430.390.280.950.366.931.281.112.701.63
Exceptional Items 000000001.640
Interest 0.370.220.200.220.260.150.140.140.140.08
Depreciation 0.520.530.470.480.500.420.410.320.330.39
Profit Before Tax 2.710.750.820.39-0.935.670.150.223.191.21
Tax 1.21-0.060.140.09-0.04-0.130.05-00.190.27
Profit After Tax 1.500.810.680.30-0.895.800.100.2230.94
PAT Margin (%) 8.3%5.1%3.8%1.7%-4.5%31.3%0.6%1.7%23.4%9.1%
Adjusted EPS (₹)3.21.71.50.7-1.912.40.20.56.42.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of National General Ind - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 20.4922.8323.8223.9922.3328.7429.4529.9034.5336.28
Share Capital 4.674.674.674.674.674.674.674.684.684.74
Reserves 15.8218.1619.1519.3217.6624.0724.7825.2229.8631.54
Debt +2.672.142.1821.772.192.271.571.330.34
Long Term Debt0.470.080.070000.100.070.340.26
Short Term Debt2.192.052.1121.772.192.171.5010.09
Minority Interest0000000000
Trade Payables0.490.510.671.331.141.240.810.560.240.62
Others Liabilities 2.462.091.961.460.991.071.381.502.222.49
Total Liabilities 26.1027.5628.6328.7826.2433.2533.9133.5238.3239.74

Fixed Assets

Net Fixed Assets +12.5812.0711.7412.2411.803.833.813.593.833.52
Gross Block17.1917.1517.3016.9318.369.8610.059.8510.2310.33
Accumulated Depreciation4.615.085.554.696.566.046.236.256.406.80
CWIP 00000.3200000.05
Investments 5.658.489.459.938.9710.2210.6310.6920.3521.72
Inventories1.801.722.693.512.392.712.631.600.920.86
Trade Receivables3.282.852.701.441.721.270.881.291.251.16
Cash Equivalents 0.270.0100.020.030.280.150.030.060.06
Others Assets 2.522.422.051.651.0114.9415.8116.3211.9212.35
Total Assets 26.1027.5628.6328.7826.2433.2533.9133.5238.3239.74

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 2.920.910.691.140.61-0.730.291.071.51-0.28
PBT 2.710.750.820.39-0.935.670.150.223.191.21
Adjustment 0.480.470.38-0.240.30-6.220.190.21-2.59-1.15
Changes in Working Capital 0.080.13-0.391.161.24-0.19-0.170.21.480.14
Tax Paid -0.36-0.45-0.12-0.16000.120.45-0.58-0.48
Cash Flow From Investing Activity + -2.19-0.41-0.57-0.77-0.140.71-0.42-0.34-1.151.29
Capex -0.34-0.08-0.16-0.99-0.3913.10-0.37-0.091.11-0.15
Net Investments -1.90-0.33-0.420.230.09-12.52-0.07-0.38-2.450.27
Others 0.050000.160.130.030.130.191.18
Cash Flow From Financing Activity + -0.61-0.76-0.13-0.37-0.470.270-0.86-0.33-1
Net Proceeds from Shares 00000000.0100.07
Net Proceeds from Borrowing 0.12-0.39-0.01-0.07000.16-0.030.27-0.08
Interest Paid -0.31-0.17-0.16-0.19-0.24-0.15-0.14-0.13-0.13-0.08
Dividend Paid 0000000000
Others -0.42-0.210.05-0.11-0.220.42-0.02-0.70-0.46-0.91
Net Cash Flow 0.12-0.26-0.010.010.010.25-0.13-0.130.030

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)7.663.752.931.27-3.8722.830.350.759.342.67
ROCE (%)13.754.034.042.34-2.6821.240.931.129.93.57
Asset Turnover Ratio0.760.640.650.620.710.620.540.40.360.27
PAT to CFO Conversion(x)1.951.121.013.8N/A-0.132.94.860.5-0.3
Working Capital Days
Receivable Days49.5065.7055.6042.7029.4029.4021.5029.5036.2042.50
Inventory Days37.7037.7044.206454.9050.1053.4057.503631.50
Payable Days33.2019.8020.5035.1032.903132.5040.2021.201.80

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

National General Industries Ltd FAQs

The current trading price of National General Ind on 02-Jul-2026 16:59 is ₹55.65.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jul-2026 the market cap of National General Ind stood at ₹24.95 Cr

The latest P/E ratio of National General Ind as of 01-Jul-2026 is 0.00.

The latest P/B ratio of National General Ind as of 01-Jul-2026 is 0.69.

The 52-week high of National General Ind is ₹72.92 and the 52-week low is ₹34.53.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of National General Ind is ₹8.95 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that National General Industries Ltd is a average quality company.

The key valuation ratios of National General Industries Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of National General Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About National General Industries Ltd

National General Industries was established in the year 1987 as a private company, subsequently in the year 1993 it was converted into a public company with its registered office in New Delhi.

It initially started as a small outfit with few members, it has during the course of the last decade established itself as one of the largest steel producer in the area of long products. The company is also one of the reputed steel suppliers in India. It is the flagship company of J PModi group.

In the year 1987, when the present management took over the unit, the manufacturing facilities consisted of just one small rolling mill which had very limited manufacturing capabilities.

The company is headed by late Shri Jai Prakash Modi's sons who are well known in the steel industry with experience of over three decades in rolling/re-rolling. National General Industries is a profit making company.

Business area of the company

The company is engaged in manufacturing of steel rounds, squares and flat products, which are broadly categorized as long products in the steel industry. The main application of its products currently being manufactured is in the engineering and automotive industry.

Certification/ Recognition

The company is an ISO 9001:2000 certified company

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