Mines iron ore and runs an integrated steel chain covering pellets, DRI and rolled products. In the segment data shown (quarter ended 30 June 2022), Steel accounted for 98.7% of period segment revenue at Rs 1,648.91 crore and Power the remaining 1.3% at Rs 21.46 crore. FY26 revenue stood at Rs 5,380.65 crore on a 24.6981% EBITDA margin. Total pellet-making capacity now stands at 4.7 MT after commissioning a 2 MT natural gas-based grate-kiln plant in December 2025, described by management as India's first such facility; iron ore mining at Ari Dongri is being expanded from 2.35 MT to 6 MT, with full capacity targeted by end-Q3/early-Q4 FY27 and FY27 mining guidance of 4-4.25 MT. A 1 MT blast-furnace integrated steel plant has been approved at Rs 7,000 crore capex with construction starting October 2026. FY27 guidance includes 4 MT of pellet output (3 MT merchant, 0.9-1 MT captive) and ~3.75 lakh tons of rolled products (wire rod 2.2 lakh tons, structural 1.2-1.3 lakh tons). Beyond steel, a 20 GW Battery Energy Storage System project is being set up through subsidiary GNEPL, with EVE Power (LFP cells) and Shanghai Shenyi Roche (BoS) as long-term suppliers, and first line commissioning targeted for end-FY27; solar capacity is rising from 165 MW to 540 MW, and a 350-truck EV fleet has been approved at Rs 350 crore capex. Raw materials at 51.7% of FY26 revenue are the largest cost; iron ore landed cost is guided at Rs 3,000-3,200/ton for FY27 and pellet cost of production at Rs 5,500-5,800/ton post-beneficiation. A 2 MTPA pellet plant at Siltara was temporarily suspended on 14.07.2026 due to curtailed gas supplies, contributing ~5.5% of turnover, while a 6.91 MW Waste Heat Recovery power plant commenced commercial operations there on 23.06.2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Steel (99%), Power (1%). Cyclical, asset-heavy integrated iron and steel producer diversifying into battery energy storage and solar.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 5,399 | 5,753 | 5,455 | 5,376 | 5,381 |
| EBITDA (ex other income) | 1,963 | 1,118 | 1,346 | 1,194 | 1,235 |
| margin % | 36.4 | 19.4 | 24.7 | 22.2 | 22.9 |
| Owners' profit | 1,481 | 793 | 937 | 812 | 801 |
| EPS, as reported (₹) | 111.41 | 30.88 | 75.09 | 13.24 | 13.05 |
| ROE % · ROCE % | 42.6 · 51.6 | 20.1 · 26.1 | 20.5 · 27.1 | 16.5 · 21.8 | 13.7 · 17.9 |
| Debt / equity (x) | 0.12 | 0.08 | 0.01 | 0.06 | 0.07 |
| Cash from operations | 1,330 | 962 | 1,044 | 895 | 1,157 |
| Capex | (613) | (456) | (423) | (535) | (1,042) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,268 | 1,298 | 1,468 | 1,323 | 1,308 | 1,139 | 1,610 | 1,750 |
| Profit before tax | 217 | 190 | 288 | 287 | 227 | 200 | 378 | 297 |
| Net profit | 159 | 145 | 222 | 216 | 162 | 143 | 280 | 222 |
| EPS (₹) | 12.98 | 2.36 | 3.61 | 3.52 | 2.63 | 2.33 | 4.56 | 3.59 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · Virtual analyst meeting scheduled on 8 Sep 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Godawari Power to hold two virtual analyst meetings on Sept 7 | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Godawari Power allots 1.41 lakh shares under ESOP 2023 | capital market events | low | — | — |
| 29 Aug 2026 · Godawari Power resumes pellet plant operations at Siltara | capex operations | high | — | — |
| 27 Aug 2026 · Newspaper publication of AGM remote e-voting notice | compliance | minimal | — | — |
| 25 Aug 2026 · GPIL sends annual report web-link to shareholders for FY 2025-26 | compliance | minimal | — | — |
| 25 Aug 2026 · Godawari Power files BRSR for FY 2025-26 | compliance | low | — | — |
| 25 Aug 2026 · 27th AGM on Sep 19, 2026; Rs 1 dividend and director re-appointments | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Annual Report FY2025-26 submitted; 27th AGM on 19 September 2026 | compliance | medium | — | — |
| 20 Aug 2026 · Promoter N P Agrawal gets 2.95% shares via family transmission | ownership changes | 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 | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| 10.9 |
| 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) | 18.6 | 16.2 | 66 of 118 | 44% |
| P/B | 2.7 | 1.7 | 68 of 99 | 32% |
| ROCE | 17.0 | 8.7 | 18 of 120 | 86% |
| ROE | 13.7 | 8.6 | 27 of 114 | 77% |
| Debt / Equity | 0.1 | 0.1 | 49 of 114 | 58% |
| EBITDA margin | 21.0 | 11.0 | 23 of 100 | 78% |
| Revenue growth | 32.3 | 13.7 | 22 of 97 | 78% |
| Profit growth | 2.8 | 29.3 | 70 of 105 | 34% |
| Market cap | 15875 | 247 | 6 of 120 | 96% |
| 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.
