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Shah Metacorp Ltd (SHAH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533275 NSE: SHAH Steel & Iron Products | Small Cap | Shah Metacorp Share Price

₹4.41 -0.18 (-3.92%)

As on 24-Jun'26 16:59

Shah Metacorp Ltd (SHAH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533275 NSE: SHAH Steel & Iron Products | Small Cap | Shah Metacorp Share Price

₹4.41 -0.18 (-3.92%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹436 Cr.
Current Price
₹4.4
52-Week Low / High
₹3 / 6
TTM EPS
₹0.1
TTM Sales
₹168 Cr.
Book Value per Share
₹3.6
P/E Ratio
41.72
Higher than its 5-year historical median
Industry PE
24.5
Price to Book (P/B)
1.24
Lower than its 5-year historical median
Price to Sales (P/S)
2.59
In line with its 5-year historical median
EV/EBITDA
25.33
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
29.10%
Outperforms industry median
Return on Capital Employed (ROCE)
25.40%
Outperforms industry median
Return on Assets (ROA)
22.64%
Operating Profit Margin
6.4%
Net Profit Margin
18.95%
Gross Profit Margin
8.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
85.89%
Operating Profit Growth (1 Year)
-
207.65%
Net Profit Growth (1 Year)
-
668.65%
Asset Quality
Promoter Holding
29.15%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹252 Cr.
Equity
₹98.8 Cr.
Face Value
₹1
All Time Low / High
₹0.67 / 12.97

Shah Metacorp stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Shah Metacorp Ltd a good quality company?
Shah Metacorp Ltd is a weak quality company, based on a inconsistent 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 Shah Metacorp Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Shah Metacorp Ltd vs industry peers?
Shah Metacorp Ltd revenue CAGR is 21.42%, compared to the industry median CAGR of 7.56%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Shah Metacorp Ltd?
Promoters hold 29.15% of the Shah Metacorp Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Shah Metacorp Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.3% 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.
Shah Metacorp Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -2%1.7%-6.8%-12.1%-9.2%-121.4%2%0.1%4.9%25.4%-
Value Creation
Index
-1.2-0.9-1.5-1.9-1.7NANA-1.0-0.70.8-

Growth Parameters

Sales 15917395.214864.712.62039.991.9171168
Sales YoY Gr.-8.6%-45%55.4%-56.2%-80.6%59.3%99%130.4%85.9%-
Adj EPS -0.8-0.2-0.9-0.8-0.7-3.8-0.70.10.10.30.1
YoY Gr.-NANANANANANANA100%150%-
BVPS (₹) 4.13.9321.2-2.6-1.60.51.42.83.6
Adj Net
Profit
-16.2-4.4-17.6-16.2-13.7-72.5-13.51.74.21511
Cash Flow from Ops. -2.93.820.544.1-11.2-21.3-0.3-32.4-46.3-
Debt/CF from Ops. -31.625.43.718.418.7-8.3-3.7-200.8-1.1-0.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 0.8%21.4%104.3%85.9%
Adj EPS NANANA150%
BVPS-4.4%17.4%NA102.9%
Share Price 2.7% 15.1% 16.4% 7%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-18.8-5.7-26.3-33.9-44.6551.933.1-2411.213.53.5
Op. Profit
Mgn %
1.68.2-2.5-6.2-20-629.2-47.6-10.23.86.41.4
Net Profit
Mgn %
-10.2-2.6-18.5-11-21.2-576-67.34.24.68.86.5
Debt to
Equity
1.21.31.323.2-1.9-2.53.80.60.10.1
Working Cap
Days
3453887034088583,0641,008421270252167
Cash Conv.
Cycle
2102364752645572,220513163127184153

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales159173951486513204092171
Operating Expenses + 157161981577894304488160
Manufacturing Costs14121212934345
Material Costs139128751345923183881151
Employee Cost 2246523111
Other Costs 219655665223
Operating Profit 312-3-9-13-82-10-4411
Operating Profit Margin (%) 1.6%6.8%-2.8%-6.3%-19.9%-650.0%-47.6%-10.1%3.8%6.4%
Other Income + 5007903743
Exceptional Items 000-600110025
Interest 1212107661000
Depreciation 11987654344
Profit Before Tax -15-9-21-22-16-920-0435
Tax -2-3-3-1-2-186-203
Profit After Tax -13-6-18-20-14-74-62432
PAT Margin (%) -8.3%-3.5%-18.7%-13.7%-21.2%-591.0%-28.1%4.2%4.6%19.0%
Adjusted EPS (₹)-0.7-0.3-0.9-1.1-0.7-3.9-0.30.10.10.5
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Shah Metacorp - 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 + 8076583724-50-311857165
Share Capital 16161616161616334259
Reserves 646042228-66-47-1615106
Debt +91967674769379673717
Long Term Debt19178573276623717
Short Term Debt7180696969613500
Minority Interest0000000000
Trade Payables3954395244252016209
Others Liabilities 262046293321-1-3-2-17
Total Liabilities 235246219192176896799112174

Fixed Assets

Net Fixed Assets +53464034292421252128
Gross Block93555758585858727282
Accumulated Depreciation4091724293438475154
CWIP 0000000000
Investments 6660000000
Inventories464042332512158138
Trade Receivables10913411211011040202555126
Cash Equivalents 31000002900
Others Assets 19201914121212132212
Total Assets 235246219192176896799112174

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -342044-11-21-0-32-46
PBT -15-9-21-16-16-92-11-0435
Adjustment 222118711737334
Changes in Working Capital -9-7241388-17-3-40-85
Tax Paid -0-0-1-000-0-00-0
Cash Flow From Investing Activity + 4-2-25000-7-0-10
Capex -6-2-2-1-0-0-0-7-0-10
Net Investments 0-006000000
Others 10000000000
Cash Flow From Financing Activity + -1-1-19-9-4112135456
Net Proceeds from Shares 0000000472868
Net Proceeds from Borrowing 411-9-22050-13-26-19
Interest Paid -12-12-10-6-6-6-0-000
Dividend Paid 0000000000
Others 7000-017-28227
Net Cash Flow -11-0-00-0028-28-0

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-15.38-7.76-26.62-42.46-44.61N/AN/A011.2129.1
ROCE (%)-2.031.65-6.77-12.11-9.18N/AN/A0.064.8725.4
Asset Turnover Ratio0.770.720.410.720.350.10.260.480.871.19
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/A-0-8-1.44
Working Capital Days
Receivable Days205.60256.10471.50274.206212,179546.20206.30159.60193.60
Inventory Days92.5091.10157.2092.90164.60537.60245.30104.2040.8022.50
Payable Days106.20132224.80123.10296.30538.40448.80175.9081.2034.50

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

Shah Metacorp Ltd FAQs

The current trading price of Shah Metacorp on 24-Jun-2026 16:59 is ₹4.41.

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 23-Jun-2026 the market cap of Shah Metacorp stood at ₹435.6 Cr

The latest P/E ratio of Shah Metacorp as of 23-Jun-2026 is 41.72.

The latest P/B ratio of Shah Metacorp as of 23-Jun-2026 is 1.24.

The 52-week high of Shah Metacorp is ₹5.81 and the 52-week low is ₹3.11.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shah Metacorp is ₹168 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shah Metacorp Ltd is a below average quality company.

The key valuation ratios of Shah Metacorp 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 Shah Metacorp Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Shah Metacorp Ltd

Shah Metacorp (SML) (formerly known as Gyscoal Alloys), a public limited company, was incorporated in the year 1999 as a private limited company. Initially, the company started its business with the trading of iron and steel scraps, billets and steel long products. The company also decided to trade in mild steel products namely CTD Bars and TMT Bars. The company took over a steel rolling mill business from Shah Group at Ubkhal, Mehsana and started manufacturing of rolled products in the year 2005. The company further started its Steel Melting Shop with a capacity of 12,000 MT per annum which was further increased to 18,000 MT per annum in the year 2008-09. Looking to the potential higher value addition in case of stainless-steel products, the company decided to manufacture Stainless Steel long Products. Currently, the company stands among the top manufacturers of stainless-steel bars and mild steel products like angle bars, bright bars, and flat bars. 

Business area of the company

The company is a leading manufacturer, exporter, and supplier of stainless steel and mild steel long products in India.

Products

Stainless Steel 

  • Equal Angle Bars
  • Bright Bars
  • Flat Bars
  • Flats (pata)
  • Ingots

Mild Steel

  • Angles

Milestones/ Major events

  • 1999: Company incorporated as Shreenath Mineral Metal Private Limited on September 29.
  • 2004: Name changed to Gyscoal Alloys Private Limited.
  • 2005: Acquired a steel rolling mill unit from Shah Alloys Group, increasing capacity to 6,000 MTPA
  • 2005: Started manufacturing rolled steel products.
  • 2006: Converted to a public limited company and renamed Gyscoal Alloys Limited
  • 2006: Started Steel Melting Shop with capacity of 12,000 MT per annum.
  • 2006-07: Expanded rolling mill capacity to 18,000 MTPA
  • 2006-07: Began manufacturing stainless steel long products ranging from 200 to 400 series grades.
  • 2007-08: Initiated exports to Far East Asian countries.
  • 2008-09: Increased steel melting capacity to 18,000 MT
  • 2008-09: Certified ISO 9001:2008 for stainless and mild steel products.
  • 2009-10: Developed Bright Bar Unit and began operations.
  • 2013: Acquired majority stake in Thai Indo Steel.
  • 2023: Company name changed from Gyscoal Alloys Limited to Shah Metacorp Limited.
  • 2024: Invested in Shah Agrocorp Private Limited, wholly-owned Subsidiary.
  • 2025: Invested in Western Urja Private Limited.

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