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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
₹3.03 -0.10 (-3.19%)
As on 01-Oct'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
₹3.03 -0.10 (-3.19%)
As on 01-Oct'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹311 Cr.
Current Price
₹3
52-Week Low / High
₹3 / 6
TTM EPS
₹0.1
TTM Sales
₹236 Cr.
Book Value per Share
₹3.7
P/E Ratio
23.48
Higher than its 5-year historical median
Industry PE
24.2
Price to Book (P/B)
0.83
Lower than its 5-year historical median
Price to Sales (P/S)
1.32
Lower than its 5-year historical median
EV/EBITDA
22.99
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
5.16%
Underperforms industry median
Return on Capital Employed (ROCE)
4.87%
Underperforms industry median
Return on Assets (ROA)
3.34%
Operating Profit Margin
4.2%
Net Profit Margin
5.84%
Gross Profit Margin
9.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-1.55%
Operating Profit Growth (1 Year)
-
-84.26%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-62.76%
Asset Quality
Promoter Holding
29.49%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹274 Cr.
Equity
₹102.6 Cr.
Face Value
₹1
All Time Low / High
₹0.67 / 12.97
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Weak
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?
Revenue growth of Shah Metacorp Ltd vs industry peers?
Shah Metacorp Ltd revenue CAGR is 75.26%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Shah Metacorp Ltd?
Promoters hold 29.49% of the Shah Metacorp Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Shah Metacorp Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -10.2% based on the current price.
10 Year X-Ray :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 1.7% | -6.8% | -12.1% | -9.2% | -121.4% | 2% | 0.1% | 4.9% | 25.4% | 5.4% | - |
| Value Creation Index ⓘ | -0.9 | -1.5 | -1.9 | -1.7 | NA | NA | -1.0 | -0.7 | 0.8 | -0.6 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 173 | 95.2 | 148 | 64.7 | 12.6 | 20 | 39.9 | 91.9 | 171 | 168 | 193 |
| Sales YoY Gr. | - | -45% | 55.4% | -56.2% | -80.6% | 59.3% | 99% | 130.4% | 85.9% | -1.6% | - |
| Adj EPS ⓘ | -0.2 | -0.9 | -0.8 | -0.7 | -3.8 | -0.7 | 0.1 | 0.1 | 0.3 | 0.2 | 0.1 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | 100% | 150% | -36% | - |
| BVPS (₹) ⓘ | 3.9 | 3 | 2 | 1.2 | -2.6 | -1.6 | 0.5 | 1.4 | 2.8 | 3.4 | 3.6 |
| Adj Net Profit ⓘ | -4.4 | -17.6 | -16.2 | -13.7 | -72.5 | -13.5 | 1.7 | 4.2 | 15 | 14.3 | 11 |
| Cash Flow from Ops. ⓘ | 3.8 | 20.5 | 4 | 4.1 | -11.2 | -21.3 | -0.3 | -32.4 | -46.3 | -30.9 | - |
| Debt/CF from Ops. ⓘ | 25.4 | 3.7 | 18.4 | 18.7 | -8.3 | -3.7 | -200.8 | -1.1 | -0.4 | -0.5 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -0.3% | 68% | 61.6% | -1.6% | ||||
| Adj EPS ⓘ | NA | NA | 47.4% | -36% | ||||
| BVPSⓘ | -1.7% | NA | 85.4% | 22.5% | ||||
| Share Price | -10.7% | 10.3% | 4.3% | -18.3% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -5.7 | -26.3 | -33.9 | -44.6 | 551.9 | 33.1 | -24 | 11.2 | 13.5 | 6.1 | 3.1 |
| Op. Profit Mgn % ⓘ | 8.2 | -2.5 | -6.2 | -20 | -629.2 | -47.6 | -10.2 | 3.8 | 6.4 | 4.7 | 2.3 |
| Net Profit Mgn % ⓘ | -2.6 | -18.5 | -11 | -21.2 | -576 | -67.3 | 4.2 | 4.6 | 8.8 | 8.5 | 5.8 |
| Debt to Equity ⓘ | 1.3 | 1.3 | 2 | 3.2 | -1.9 | -2.5 | 3.8 | 0.6 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 388 | 703 | 408 | 858 | 3,064 | 1,008 | 421 | 270 | 252 | 373 | 167 |
| Cash Conv. Cycle ⓘ | 236 | 475 | 264 | 557 | 2,220 | 513 | 163 | 127 | 184 | 263 | 153 |
Valuation of Shah Metacorp - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 173 | 95 | 148 | 65 | 13 | 20 | 40 | 97 | 176 | 208 |
| Operating Expenses ⓘ + | 161 | 98 | 157 | 78 | 94 | 30 | 44 | 93 | 165 | 206 |
| Operating Profit ⓘ | 12 | -3 | -9 | -13 | -82 | -10 | -4 | 4 | 11 | 2 |
| Operating Profit Margin (%) | 6.8% | -2.8% | -6.3% | -19.9% | -650.0% | -47.6% | -10.1% | 3.7% | 6.3% | 0.8% |
| Other Income ⓘ + | 0 | 0 | 7 | 9 | 0 | 3 | 7 | 4 | 3 | 20 |
| Interest ⓘ | 12 | 10 | 7 | 6 | 6 | 1 | 0 | 0 | 0 | 2 |
| Depreciation ⓘ | 9 | 8 | 7 | 6 | 5 | 4 | 3 | 4 | 4 | 4 |
| Profit Before Tax ⓘ | -9 | -21 | -22 | -16 | -92 | 0 | -0 | 4 | 35 | 15 |
| Tax ⓘ | -3 | -3 | -1 | -2 | -18 | 6 | -2 | 0 | 3 | 3 |
| Profit After Tax | -6 | -18 | -20 | -14 | -74 | -6 | 2 | 4 | 33 | 12 |
| PAT Margin (%) | -3.5% | -18.7% | -13.7% | -21.2% | -591.0% | -28.1% | 4.2% | 4.4% | 18.5% | 5.8% |
| Adjusted EPS (₹) | -0.3 | -0.9 | -1.1 | -0.7 | -3.9 | -0.3 | 0.1 | 0.1 | 0.6 | 0.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 75 | 58 | 37 | 24 | -50 | -31 | 18 | 57 | 165 | 305 | |
| Debt + | 101 | 81 | 74 | 76 | 93 | 79 | 67 | 37 | 18 | 239 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | |
| Trade Payables | 54 | 39 | 52 | 44 | 25 | 20 | 16 | 24 | 13 | 16 | |
| Others Liabilities ⓘ | 20 | 46 | 29 | 33 | 21 | -1 | -3 | -2 | -17 | -16 | |
| Total Liabilities ⓘ | 251 | 224 | 192 | 176 | 89 | 67 | 99 | 117 | 179 | 547 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 48 | 42 | 34 | 29 | 24 | 21 | 25 | 21 | 28 | 99 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 44 | |
| Inventories | 40 | 42 | 33 | 25 | 12 | 15 | 8 | 13 | 8 | 28 | |
| Trade Receivables | 134 | 112 | 110 | 110 | 40 | 20 | 25 | 60 | 131 | 118 | |
| Cash Equivalents | 1 | 0 | 0 | 0 | 0 | 0 | 29 | 0 | 0 | 2 | |
| Others Assets ⓘ | 29 | 28 | 14 | 12 | 12 | 12 | 13 | 22 | 12 | 256 | |
| Total Assets ⓘ | 251 | 224 | 192 | 176 | 89 | 67 | 99 | 117 | 179 | 547 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 4 | 20 | 8 | 4 | -11 | -21 | -0 | -32 | -47 | -58 |
| Cash Flow From Investing Activity ⓘ + | -2 | -2 | 1 | 0 | 0 | 0 | -7 | -0 | -10 | -220 |
| Cash Flow From Financing Activity ⓘ + | -1 | -19 | -9 | -4 | 11 | 21 | 35 | 4 | 57 | 279 |
| Net Cash Flow ⓘ | 1 | -0 | -0 | 0 | -0 | 0 | 28 | -28 | -0 | 2 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -7.79 | -26.63 | -42.38 | -44.61 | N/A | N/A | 0 | 11.35 | 29.26 | 5.16 |
| ROCE (%) | 1.61 | -6.57 | -11.86 | -9.18 | N/A | N/A | 0.06 | 4.93 | 25.55 | 4.87 |
| Asset Turnover Ratio | 0.7 | 0.4 | 0.71 | 0.35 | 0.1 | 0.26 | 0.48 | 0.9 | 1.19 | 0.57 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | -0 | -8 | -1.42 | -4.83 |
| Working Capital Days | ||||||||||
| Receivable Days | 256.10 | 471.50 | 274.20 | 621 | 2,179 | 546.20 | 206.30 | 160.70 | 198.10 | 219.10 |
| Inventory Days | 91.10 | 157.20 | 92.90 | 164.60 | 537.60 | 245.30 | 104.20 | 38.70 | 21.80 | 31.60 |
| Payable Days | 132 | 224.80 | 123.10 | 296.30 | 538.40 | 448.80 | 175.90 | 86.90 | 44.10 | 31.20 |
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Announcements
Shah Metacorp Ltd FAQs
The current trading price of Shah Metacorp on 01-Oct-2026 16:59 is ₹3.03.
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 30-Sep-2026 the market cap of Shah Metacorp stood at ₹311.0 Cr
The latest P/E ratio of Shah Metacorp as of 30-Sep-2026 is 27.23.
The latest P/B ratio of Shah Metacorp as of 30-Sep-2026 is 0.83.
The 52-week high of Shah Metacorp is ₹5.81 and the 52-week low is ₹2.63.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shah Metacorp is ₹193 ( 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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