Manufactures steel products and runs a captive power business. Steel is the dominant revenue line, contributing 88.1% of segment revenue (₹3,048.7 crore for the period ending 31 December 2023), but operates at a near-breakeven EBIT margin of -0.3%. The power segment contributes 11.7% of segment revenue (₹405.85 crore) at a high EBIT margin of 47.1%, indicating captive use with surplus sale. Steelmaking capacity is being raised from 1 MT to 1.3 MT, with H2 FY27 commissioning targeted. A 78 MW solar capacity (18 MW in Gujarat, 60 MW in UP) is being added to reduce power costs, with ₹30-40 crore in annual savings expected on full commissioning. Captive iron ore mines in Rajasthan and UP are being developed, with FY28 commissioning expected to lift EBITDA per ton by approximately ₹2,000 once integrated. FY26 revenue was ₹4,418.92 crore, EBITDA margin 17.56%, and net profit margin 10.96%. Raw materials are the dominant cost at 72% of revenue. End-market demand drivers cited are infrastructure, construction, automotive, and railways. The balance sheet is near-zero debt, with debt-to-equity of 0.1652. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Steel (88%), Power (12%), Real Estate (0%), Un-allocated (0%). Cyclical, asset-heavy integrated steelmaker with captive power, currently in a capex-led expansion phase
| ₹ crore · consolidated | FY20 | FY21 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 865 | 1,007 | 4,227 | 4,293 | 4,419 |
| EBITDA (ex other income) | 32 | 111 | 448 | 694 | 716 |
| margin % | 3.7 | 11.0 | 10.6 | 16.2 | 16.2 |
| Owners' profit | 0 | 0 | 225 | 0 | 484 |
| EPS, as reported (₹) | 2.76 | 10.01 | 9.34 | 16.61 | 20.07 |
| ROE % · ROCE % | 3.4 · 2.7 | 11.0 · 12.9 | 9.2 · 12.7 | 14.1 · 18.8 | 14.6 · 18.0 |
| Debt / equity (x) | 0.14 | 0.15 | 0.19 | 0.13 | 0.17 |
| Cash from operations | — | 92 | 344 | 579 | 602 |
| Capex | — | (46) | (199) | (242) | (348) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 943 | 1,118 | 1,072 | 1,128 | 1,013 | 1,074 | 1,205 | 1,146 |
| Profit before tax | 65 | 165 | 159 | 216 | 103 | 123 | 162 | 165 |
| Net profit | 49 | 114 | 116 | 174 | 89 | 100 | 123 | 124 |
| EPS (₹) | 2.03 | 4.71 | 4.82 | 7.20 | 3.62 | 4.16 | 5.09 | 5.13 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Weblink letters sent to non-email shareholders for FY26 Annual Report and 22nd AGM notice | compliance | minimal | — | — |
| 8 Sept 2026 · Newspaper publication of 22nd AGM notice; Rs 2 dividend recommended | compliance | minimal | — | — |
| 7 Sept 2026 · Gallantt Ispat submits BRSR for FY 2025-26 | compliance | minimal | — | — |
| 7 Sept 2026 · Gallantt Ispat submits FY26 Annual Report; 22nd AGM on September 30, 2026 | compliance | minimal | — | — |
| 7 Sept 2026 · AGM on Sep 30, 2026; Book closure Sep 24-30; dividend Rs 2 per share | corporate actions | high | — | — |
| 7 Sept 2026 · Record date fixed for final dividend, AGM on September 30, 2026 | corporate actions | high | — | — |
| 7 Sept 2026 · Notice of 22nd AGM on Sep 30, 2026 with Rs. 2 final dividend | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Gallantt Ispat 22nd AGM on Sep 30 via VC; Rs. 2 dividend declared | compliance | minimal | — | — |
| 1 Sept 2026 · Clarification on Q1 FY27 results discrepancy from Gallantt Ispat | compliance | minimal | — | — |
| 28 Aug 2026 · NSE seeks clarification on Q1 FY27 results under SEBI Reg 33 | regulatory legal | medium | — | — |
| 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 |
| 9.4 |
| 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) | 30.6 | 16.2 | 88 of 118 | 26% |
| P/B | 4.0 | 1.7 | 80 of 99 | 19% |
| ROCE | 16.8 | 8.7 | 19 of 120 | 85% |
| ROE | 14.6 | 8.6 | 21 of 114 | 82% |
| Debt / Equity | 0.2 | 0.1 | 60 of 114 | 48% |
| EBITDA margin | 17.8 | 11.0 | 31 of 100 | 70% |
| Revenue growth | 1.6 | 13.7 | 68 of 97 | 30% |
| Profit growth | (28.8) | 29.3 | 83 of 105 | 21% |
| Market cap | 13270 | 247 | 8 of 120 | 94% |
| 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.
