Has not manufactured anything since April 1995 and disposed of its plant land in 2020, and now operates solely as a trader of iron and steel products. Trading activity effectively collapsed in FY26 — revenue from operations for the nine months ended December 2025 was Rs 0.85 lakh against Rs 1,272.20 lakh a year earlier, with Q2 and Q3 FY26 both posting essentially zero operating revenue, and the bulk of FY26's Rs 1,681.87 lakhs of operating revenue landing in Q4 FY26 alone. The reported FY26 net profit of Rs 57.67 lakhs (turning around from a Rs 15.32 lakh loss in FY25) came almost entirely from other income of Rs 174.62 lakhs rather than steel trading. Operating cash flow was negative at Rs 1,464.09 lakhs for the year, and short-term borrowings rose to Rs 455.61 lakh from Rs 255.41 lakh as of March 2025. Employee costs at 2.6% of revenue and other operating expenses at 7.9% of revenue make up the bulk of the cost base, with no spend on materials, depreciation or capex. Ongoing NCLT/NCLAT insolvency proceedings filed by M.B. Gupta HUF and Suresh Kumar Jalan remain unresolved, and an NCLT Chennai order on 18 September 2025 went in the company's favour in one of those matters. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading of iron and steel products, Other income. Dormant trading shell — no manufacturing since 1995, near-zero trading revenue outside Q4 FY26, profitability driven by other income.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 11 | 5 | 20 | 16 | 17 |
| EBITDA (ex other income) | (1) | (1) | (2) | (1) | (1) |
| margin % | (5.3) | (10.5) | (8.5) | (7.1) | (6.0) |
| Owners' profit | (0) | 1 | (0) | (0) | 1 |
| EPS, as reported (₹) | (0.59) | 1.46 | (0.05) | 0.27 | 1.07 |
| ROE % · ROCE % | (1.7) · 1.8 | 4.1 · 5.1 | (0.2) · 0.2 | (0.8) · (2.2) | 2.9 · 3.7 |
| Debt / equity (x) | 0.14 | 0.13 | 0.13 | 0.13 | 0.24 |
| Cash from operations | (11) | 5 | (1) | (1) | (15) |
| Capex | 0 | 0 | (0) | (0) | 0 |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2 | 0 | 3 | 0 | 0 | 0 | 17 | 16 |
| Profit before tax | (1) | 0 | (0) | 0 | 0 | 0 | 0 | 1 |
| Net profit | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | (1.50) | 0.56 | 0.21 | 0.26 | 0.09 | 0.14 | 0.57 | 0.62 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 3 Sept 2026 · East Coast Steel announces 43rd AGM on September 28, 2026 | compliance | minimal | — | — |
| 2 Sept 2026 · 43rd AGM notice and FY 2025-26 Annual Report filing | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Eastcoast Steel 43rd AGM on Sep 28 2026; FY26 profit of Rs 57.67 lakh | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 14 Aug 2026 · Q1 FY27: Eastcoast Steel posts Rs 34.13 lakh PAT on resumed trading | results | high | — | — |
| 14 Aug 2026 · Q1 FY27: Revenue jumps sharply YoY, PAT up 133%, re-appoints internal auditor | results | high | — | — |
| 7 Aug 2026 · Board meeting on 14 Aug 2026 to approve Q1 FY27 standalone results | results | low | — | — |
| 9 Jul 2026 · Routine filing - Reg 74(5) certificate for Q1 FY27 | compliance | minimal | — | — |
| 26 Jun 2026 · Trading window closed from July 1 for Q1 FY27 results | compliance | minimal | — | — |
| 1 Jun 2026 · As per attachment. | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| 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 |
| RATNAMANI MET & TUB LTD. |
| 19,815 |
| 45.8 |
| 4.71 |
| 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) | 13.4 | 16.2 | 45 of 118 | 62% |
| P/B | 0.5 | 1.7 | 11 of 99 | 90% |
| ROCE | 3.6 | 8.7 | 84 of 120 | 30% |
| ROE | 2.9 | 8.6 | 86 of 114 | 25% |
| Debt / Equity | 0.2 | 0.1 | 70 of 114 | 39% |
| EBITDA margin | 3.3 | 11.0 | 86 of 100 | 14% |
| Revenue growth | 193883.5 | 13.7 | 1 of 97 | 100% |
| Profit growth | 133.0 | 29.3 | 22 of 105 | 80% |
| Market cap | 10 | 247 | 109 of 120 | 9% |
| 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.
