BSE: 544688
KASTURI METAL COMPOSITE LIMITE
Manufactures steel wool and steel fibers, and delivers concrete flooring services under the Durafloor brand. The Steel Wool and Steel Fiber segment generated Rs 3,188.26 lakh in revenue and the Concrete Flooring Services segment generated Rs 3,269.15 lakh, serving institutional and industrial customers across India and export markets. A new Delta Loop-End steel fiber has been developed with a patent under expedited examination, and 200 MT of it has been executed. Plant IV civil work is complete with seven machines installed, targeting commercial production in October 2026 to triple capacity to 800 MT per month, alongside a Plant 4 expansion adding 6,000 MT per year of capacity. The order book stands at Rs 51.37 Cr, supported by a Rs 17+ Cr Durafloor pipeline and Rs 8 Cr+ in firm orders. Exports surged 6x year-on-year to Rs 153.72 lakh in Q1 FY27, with three UAE projects completed and GCC orders secured. Materials account for 41.8% of revenue, the largest single cost line. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Steel Wool and Steel Fiber, Concrete Flooring Services. Small-cap industrial products maker in steel fibers and concrete flooring, recently IPO'd
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 64 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 4.84 |
| ROE % · ROCE % | — · 19.9 |
| Debt / equity (x) | — |
| Cash from operations | 4 |
| Capex | (14) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 32 |
| Profit before tax | 2 |
| Net profit | — |
| EPS (₹) | 1.73 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED | 65,982 | 28.6 | 7.01 | 28.1 | 17.2 | 14.9 | 21.1 | 18.5 |
| APL APOLLO TUBES LTD | 61,480 | 50.0 | 11.61 | 32.0 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 32,069 | 28.6 | 2.60 | 13.0 | 8.6 | 11.4 | 24.1 | 14.9 |
| RATNAMANI MET & TUB LTD. | 16,437 | 38.0 | 3.91 | 19.2 | 12.7 | 15.6 | 14.4 | 18.5 |
| JINDAL SAW LIMITED | 15,732 | 24.0 | 1.28 | 8.7 | 7.5 | 6.8 | 10.9 | 9.4 |
| USHA MARTIN LTD. | 14,523 | 28.6 | 4.40 | 19.1 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,114 | 30.2 | 3.95 | 17.5 | 14.6 | 16.8 | 34.4 | 17.8 |
| GODAWARI POW & ISP LTD | 12,641 | 14.8 | 2.16 | 9.6 | 13.7 | 17.0 | 5.7 | 21.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 40.5 | 15.6 | 86 of 105 | 18% |
| ROCE | 16.0 | 9.1 | 22 of 115 | 82% |
| Market cap | 73 | 210 | 78 of 122 | 36% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · CFO Pravin Kesharwani resigns effective November 3, 2026 | management changes | high | — | — |
| 8 Oct 2026 · Reg 74(5) filing confirms all shares in demat form, no conversion requests | compliance | minimal | — | — |
| 1 Oct 2026 · Company responds to BSE query on share price movement | regulatory legal | medium | — | — |
| 30 Sept 2026 · BSE seeks clarification from Kasturi Metal on price movement | regulatory legal | high | — | — |
| 30 Sept 2026 · 21st AGM results: both resolutions passed unanimously | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · Kasturi Metal Composite 21st AGM proceedings on Sep 29, 2026 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Notice of 21st AGM and Annual Report FY 2025-26 dispatch | compliance | minimal | — | — |
| 4 Sept 2026 · AGM Notice and Annual Report link sent to shareholders without registered email | compliance | minimal | — | — |
| 3 Sept 2026 · FY26 Annual Report: IPO listing, revenue up 13%, PAT jumps 139% YoY | investor communications | medium | — | — |
| 3 Sept 2026 · Kasturi Metal Composite 21st AGM notice for September 29, 2026 | board shareholder meetings | low | — | — |
How to read this document
| 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 |
| 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 |
Sources, method and disclosures
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.