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10 Yrs X-Ray 
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Analyst Note 
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About
Shri Bajrang Alliance Ltd (SHBAJRG)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526981 NSE: SHBAJRG Steel & Iron Products | Small Cap | Shri BajrangAlliance Share Price
₹160.25 4.70 (3.02%)
As on 03-Sep'26 16:59
Shri Bajrang Alliance Ltd (SHBAJRG)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 526981 NSE: SHBAJRG Steel & Iron Products | Small Cap | Shri BajrangAlliance Share Price
₹160.25 4.70 (3.02%)
As on 03-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹140 Cr.
Current Price
₹160.3
52-Week Low / High
₹130 / 227
TTM EPS
₹17.1
TTM Sales
₹287 Cr.
Book Value per Share
₹108.4
P/E Ratio
9.09
Lower than its 5-year historical median
Industry PE
24.9
Price to Book (P/B)
1.43
Lower than its 5-year historical median
Price to Sales (P/S)
0.49
In line with its 5-year historical median
EV/EBITDA
11.67
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
17.11%
Outperforms industry median
Return on Capital Employed (ROCE)
9.07%
Underperforms industry median
Return on Assets (ROA)
6.38%
Operating Profit Margin
1.4%
Net Profit Margin
5.38%
Gross Profit Margin
7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-31.98%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
-6.51%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
214.01%
Asset Quality
Promoter Holding
63.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹89 Cr.
Equity
₹9 Cr.
Face Value
₹10
All Time Low / High
₹6.30 / 406.00
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Shri Bajrang Alliance Ltd a good quality company?
Shri Bajrang Alliance 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 Shri Bajrang Alliance Ltd performance compare with that of its Peers?
Revenue growth of Shri Bajrang Alliance Ltd vs industry peers?
Shri Bajrang Alliance Ltd revenue CAGR is 4.86%, compared to the industry median CAGR of 7.75%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of Shri Bajrang Alliance Ltd?
Promoters hold 63.97% of the Shri Bajrang Alliance Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Shri Bajrang Alliance Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 21.1% 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.
Shri Bajrang Alliance 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 % ⓘ | 5.4% | 5.8% | 7.4% | 4.5% | 8% | 10.2% | 9.6% | 5.3% | 4.4% | 9.1% | - |
| Value Creation Index ⓘ | -0.6 | -0.6 | -0.5 | -0.7 | -0.4 | -0.3 | -0.3 | -0.6 | -0.7 | -0.4 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 76.6 | 101 | 157 | 171 | 214 | 171 | 524 | 570 | 398 | 271 | 287 |
| Sales YoY Gr. | - | 31.2% | 56.1% | 9.1% | 24.8% | -20.1% | 206.8% | 8.8% | -30.1% | -32% | - |
| Adj EPS ⓘ | 1 | 1.3 | 1.6 | 0.9 | 2.3 | 3.2 | 6.1 | 2.6 | 3 | 6.9 | 17.1 |
| YoY Gr. | - | 26% | 22.1% | -41.3% | 146.8% | 39.7% | 87.4% | -57% | 14.2% | 131.9% | - |
| BVPS (₹) ⓘ | 31.2 | 37 | 38.7 | 39.5 | 47.8 | 52.1 | 57.9 | 62 | 84.5 | 104.8 | 108.4 |
| Adj Net Profit ⓘ | 0.9 | 1.2 | 1.4 | 0.9 | 2.1 | 2.9 | 5.5 | 2.4 | 2.7 | 6.2 | 15 |
| Cash Flow from Ops. ⓘ | 5.4 | 12.6 | -8.5 | 7.4 | 1.8 | 24.4 | -2.8 | -0.7 | -23.7 | -10.3 | - |
| Debt/CF from Ops. ⓘ | 7.6 | 2.1 | -2.3 | 6.3 | 32.7 | 1.7 | -19.6 | -87.3 | -4.1 | -10.1 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.1% | 4.9% | -19.7% | -32% | ||||
| Adj EPS ⓘ | 23.4% | 24.4% | 4.4% | 131.9% | ||||
| BVPSⓘ | 14.4% | 17% | 21.9% | 23.9% | ||||
| Share Price | 21.5% | -9.4% | -12.1% | -22.6% | ||||
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 % ⓘ | 3.4 | 3.6 | 3.8 | 2.2 | 4.9 | 6.1 | 10.4 | 4.1 | 3.9 | 7 | 16 |
| Op. Profit Mgn % ⓘ | 5.6 | 4.5 | 3.1 | 2 | 4.3 | 5.3 | 2.1 | 0.8 | 1 | 1.4 | 1.5 |
| Net Profit Mgn % ⓘ | 1.2 | 1.2 | 0.9 | 0.5 | 1 | 1.7 | 1 | 0.4 | 0.7 | 2.3 | 5.4 |
| Debt to Equity ⓘ | 1.5 | 0.8 | 0.6 | 1.3 | 1.4 | 0.9 | 1 | 1.1 | 1.3 | 1.1 | - |
| Working Cap Days ⓘ | 299 | 220 | 132 | 156 | 136 | 124 | 55 | 71 | 109 | 182 | 99 |
| Cash Conv. Cycle ⓘ | 166 | 127 | 91 | 76 | 68 | 91 | 43 | 58 | 80 | 106 | 12 |
Valuation of Shri BajrangAlliance - Standalone
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 | 77 | 101 | 157 | 171 | 214 | 171 | 524 | 570 | 398 | 271 |
| Operating Expenses ⓘ + | 72 | 96 | 152 | 168 | 205 | 162 | 513 | 565 | 394 | 267 |
| Operating Profit ⓘ | 4 | 5 | 5 | 3 | 9 | 9 | 11 | 5 | 4 | 4 |
| Operating Profit Margin (%) | 5.6% | 4.5% | 3.1% | 1.9% | 4.2% | 5.3% | 2.1% | 0.8% | 1.0% | 1.4% |
| Other Income ⓘ + | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 4 | 5 | 16 |
| Interest ⓘ | 3 | 2 | 3 | 2 | 4 | 3 | 2 | 1 | 1 | 1 |
| Depreciation ⓘ | 0 | 1 | 1 | 0 | 2 | 3 | 3 | 3 | 3 | 3 |
| Profit Before Tax ⓘ | 1 | 2 | 1 | 1 | 3 | 7 | 7 | 5 | 5 | 16 |
| Tax ⓘ | 0 | 0 | -0 | 0 | 1 | 3 | 1 | 2 | 1 | 1 |
| Profit After Tax | 1 | 1 | 1 | 1 | 2 | 4 | 6 | 3 | 5 | 15 |
| PAT Margin (%) | 1.2% | 1.2% | 0.9% | 0.5% | 1.0% | 2.2% | 1.1% | 0.6% | 1.2% | 5.4% |
| Adjusted EPS (₹) | 1.1 | 1.3 | 1.6 | 0.9 | 2.4 | 4.2 | 6.1 | 3.5 | 5.2 | 16.2 |
| 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 + | 28 | 37 | 38 | 39 | 46 | 50 | 55 | 59 | 79 | 98 | |
| Debt + | 38 | 25 | 20 | 47 | 54 | 38 | 50 | 59 | 98 | 104 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 0 | 2 | 10 | 46 | 11 | 2 | 18 | 3 | 28 | 33 | |
| Others Liabilities ⓘ | 6 | 9 | 2 | 5 | 7 | 12 | 49 | 53 | 8 | 10 | |
| Total Liabilities ⓘ | 73 | 73 | 70 | 137 | 118 | 101 | 173 | 174 | 212 | 244 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 4 | 7 | 8 | 8 | 42 | 42 | 38 | 42 | 42 | 55 | |
| CWIP ⓘ | 0 | 0 | 0 | 29 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 3 | 7 | 7 | 7 | 8 | 11 | 24 | 18 | 47 | 42 | |
| Inventories | 18 | 22 | 39 | 28 | 32 | 25 | 41 | 50 | 82 | 93 | |
| Trade Receivables | 17 | 17 | 12 | 52 | 25 | 19 | 60 | 50 | 21 | 20 | |
| Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | |
| Others Assets ⓘ | 31 | 19 | 4 | 11 | 11 | 4 | 9 | 13 | 20 | 34 | |
| Total Assets ⓘ | 73 | 73 | 70 | 137 | 118 | 101 | 173 | 174 | 212 | 244 | |
| 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 ⓘ + | 5 | 13 | -8 | 7 | 2 | 24 | -3 | -1 | -24 | -10 |
| Cash Flow From Investing Activity ⓘ + | -0 | -1 | 16 | -33 | -5 | -5 | -8 | -6 | -15 | 5 |
| Cash Flow From Financing Activity ⓘ + | -6 | -12 | -8 | 25 | 3 | -19 | 11 | 8 | 37 | 6 |
| Net Cash Flow ⓘ | -0 | -0 | 0 | 0 | 0 | 0 | -0 | 1 | -1 | 0 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 3.45 | 3.83 | 4.22 | 2.34 | 5.54 | 8.42 | 11.13 | 5.79 | 7.04 | 17.11 |
| ROCE (%) | 5.44 | 5.84 | 7.37 | 4.51 | 8 | 10.15 | 9.62 | 5.34 | 4.44 | 9.07 |
| Asset Turnover Ratio | 1.1 | 1.41 | 2.2 | 1.66 | 1.68 | 1.55 | 3.83 | 3.29 | 2.06 | 1.19 |
| PAT to CFO Conversion(x) | 5 | 13 | -8 | 7 | 1 | 6 | -0.5 | -0.33 | -4.8 | -0.67 |
| Working Capital Days | ||||||||||
| Receivable Days | 101.30 | 60 | 34.50 | 68.80 | 65.50 | 46.50 | 27.40 | 35.30 | 32.90 | 28.20 |
| Inventory Days | 67.80 | 71.80 | 70.50 | 71.40 | 51.60 | 60.50 | 22.80 | 29.20 | 60.60 | 117.60 |
| Payable Days | 3.70 | 5.40 | 15.80 | 66.40 | 59.20 | 19.40 | 8.70 | 7.80 | 17.20 | 51.50 |
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Shri Bajrang Alliance Ltd FAQs
The current trading price of Shri BajrangAlliance on 03-Sep-2026 16:59 is ₹160.2.
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 02-Sep-2026 the market cap of Shri BajrangAlliance stood at ₹140.0 Cr
The latest P/E ratio of Shri BajrangAlliance as of 02-Sep-2026 is 9.09.
The latest P/B ratio of Shri BajrangAlliance as of 02-Sep-2026 is 1.43.
The 52-week high of Shri BajrangAlliance is ₹227.4 and the 52-week low is ₹130.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shri BajrangAlliance is ₹287 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shri Bajrang Alliance Ltd is a below average quality company.
The key valuation ratios of Shri Bajrang Alliance 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 Shri Bajrang Alliance Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Shri Bajrang Alliance Ltd
Shri Bajrang Alloys is being recognized as one of the largest structural rolling mills in the state of Madhya Pradesh spread over 33 acres of land. The products of the Bajrang Alloys are a model for other rolling mills in the country. Bajrang Alloys plays on important role in the national effort to build a strong and self-reliant industrial base.
Bajrang Alloys has been commissioned in adopting the most modern and advanced technology. It involves systematic application of latest machinery and techniques to develop high quality end-products. The board of directors of Bajrang Alloys are well qualified and has commendable experience with sound financial back ground and good market reputation.
Bajrang Alloys has employed technically qualified, well experienced and trained engineering professionals who are well-versed with the concepts of productivity and quality-control. Bajrang Alloys even imports in-house training to un-skilled personnel from time to time.
Product range of the company includes:
- Beams- Joists upto 400mm
- Channels upto 400mm
- Angles upto 200mm
- H Beams-250-250 equal angles
Clientele:
Their client list includes various corporate groups, high tension power transmission line industries, organizations engaged in the construction of nuclear power project, bridges, tunnels, etc. to name a few: -
- Hindustan Construction Co.Ltd
- Reliance Industries Ltd
- Thyssenkrupp Industries India P.Ltd
- Siemens Ltd
- ShreeRenuka Sugars Ltd.
- Afcons Infrastructure Industries Ltd
- Gammon India Ltd
- SNC Power Corporation (P) Ltd.
- KEC International Ltd
- Jyoti Structures Ltd
- Amitasha Enterprises (P) Ltd.
- L& T Ltd.
- Soma Enterprises Ltd.
- Hindalco Industries Ltd.
- Punj Lloyd Ltd.
- FFE Minerals India P Ltd.
- Thermax Ltd.
- Gannon Dunkerley & Co.Ltd
- Simplex Infrastructures Ltd
Achievements/ recognition:
- An ISO 9002:2004 certified company
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