Makes cast iron lumps and pipe-fittings or casting articles at a plant in Chhattisgarh using submerged arc furnaces. The Cast Iron Lumps segment had a segment loss of Rs 617.38 lakhs in H1 FY26 versus Rs 161.20 lakhs in H1 FY25, while Foundry (Casting Articles) revenue fell to Rs 691.82 lakhs from Rs 1,790.17 lakhs. Due to adverse market conditions, only one of the two submerged arc furnaces has been running since 1 November 2025. Full-year FY26 revenue from operations came in at Rs 6,159 lakhs, down ~15% from Rs 7,228 lakhs in FY25, and the company swung from a Rs 53 lakhs profit to a Rs 490 lakhs loss. The largest cost bucket is other operating expenses at 53.5% of revenue, with raw materials at 34.5%; the company has flagged sharp rises in electricity tariffs and power charges as the specific pressure point, and commissioned a 132 KV power supply system and a briquetting plant in October 2024 to address them. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cast Iron Lumps, Foundry / Casting Articles. Small iron and steel products manufacturer exposed to commodity price and power cost cycles
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 92 | 88 | 72 | 62 |
| EBITDA (ex other income) | — | — | — | — |
| margin % | — | — | — | — |
| Owners' profit | — | — | — | — |
| EPS, as reported (₹) | 7.94 | 1.55 | 0.44 | 4.00 |
| ROE % · ROCE % | — · 24.6 | — · 8.7 | — · 4.0 | — · (12.2) |
| Debt / equity (x) | — | — | — | — |
| Cash from operations | 14 | 8 | (1) | 4 |
| Capex | — | — | (9) | (0) |
| ₹ crore | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 44 | 46 | 42 | 37 | 36 | 34 | 28 |
| Profit before tax | 2 | 1 | 2 | 1 | (0) | (4) | (2) |
| Net profit | — | — | — | — | — | — | — |
| EPS (₹) | 1.85 | 0.86 | 0.69 | 0.55 | 0.11 | 2.61 | 1.39 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 70,880 | 30.7 | 7.54 | 30.2 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Newspaper publication of AGM notice and e-voting information | compliance | minimal | — | — |
| 3 Sept 2026 · Earthstahl and Alloys files FY26 annual report; AGM on 29 Sept | results | medium | — | — |
| 3 Sept 2026 · Earthstahl and Alloys schedules 17th AGM on 29 September 2026 via video conferencing | board shareholder meetings | low | — | — |
| 20 Aug 2026 · BSE imposes Rs 1,000 fine on Earthstahl for delayed compliance officer appointment | regulatory legal | medium | — | — |
| 14 Aug 2026 · Reappointment of Prawin Somani and Rajesh Somani as Whole Time Directors for 5 years | management changes | medium | — | — |
| 14 Aug 2026 · Board approves reappointment of two whole-time directors | management changes | medium | — | — |
| 14 Jul 2026 · RTA compliance certificate for quarter ended June 2026 | compliance | minimal | — | — |
| 30 May 2026 · Authorisation under regulation 30(5) of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015. | compliance | minimal | — | — |
| 30 May 2026 · Intimation of appointment of Internal Auditor and Secretarial Auditor for the F.Y. 2026-27. | management changes | medium | — | — |
| 30 May 2026 · Financial Result for the half year and year ended 31.03.2026 | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| 23.1 |
| 12.7 |
| 15.6 |
| 14.4 |
| 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.8 | 16.2 | 12 of 118 | 91% |
| ROCE | (15.8) | 8.7 | 114 of 120 | 5% |
| Revenue growth | (34.5) | 13.7 | 85 of 97 | 13% |
| Market cap | 16 | 247 | 105 of 120 | 13% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
