Manufactures stainless steel products, with FY26 revenue from operations of Rs 1,006.96 crore and an EBITDA margin of 9.52%. The business runs a manufacturing facility in Panchmahal district, Gujarat, which is being expanded with capital expenditure funded from IPO proceeds. Raw materials dominate the cost structure at 73.2% of revenue, making procurement the dominant input; employee costs run at 2.2%, other operating expenses at 8.8%, and depreciation at 0.9%, with capex at 1.3% of revenue in FY26. The company completed its IPO in March 2026, raising Rs 178.73 crore through a fresh issue and listing on NSE and BSE, with total equity capital of 8.35 crore shares of Rs 10 face value. Of the IPO proceeds, Rs 18.57 crore is allocated to manufacturing expansion at Panchmahal, Rs 98 crore to debt repayment, Rs 44.64 crore to general corporate purposes, and Rs 17.52 crore to issue expenses. Bank loan facilities total Rs 165 crore, rated BBB+/Stable (long-term) and A2 (short-term) by CRISIL. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sale of stainless steel products. Asset-heavy stainless steel manufacturing
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 1,007 |
| EBITDA (ex other income) | 92 |
| margin % | 9.1 |
| Owners' profit | 50 |
| EPS, as reported (₹) | 7.17 |
| ROE % · ROCE % | 13.7 · 23.0 |
| Debt / equity (x) | 0.18 |
| Cash from operations | 32 |
| Capex | (13) |
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 251 | 255 | 307 |
| Profit before tax | 17 | 17 | 27 |
| Net profit | 12 | 13 | 20 |
| EPS (₹) | 1.79 | 1.88 | 2.42 |
| 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 | 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Promoter CEO buys 30000 shares of Rajputana Stainless via open market | ownership changes | high | — | — |
| 11 Sept 2026 · Promoter group buys about 80,000 shares in Rajputana Stainless | ownership changes | low | — | — |
| 8 Sept 2026 · CARE assigns A- and A2+ ratings to Rs 160 crore facilities | credit debt | medium | — | — |
| 7 Sept 2026 · Contracts awarded for 10.10 MW captive renewable power projects | business updates | medium | — | — |
| 7 Sept 2026 · RSL awards wind and solar captive power contracts worth about Rs 39 crore | capex operations | high | — | — |
| 1 Sept 2026 · Newspaper publication of 35th AGM notice, dividend and e-voting info | compliance | minimal | — | — |
| 31 Aug 2026 · AGM on Sept 23, 2026; Final Dividend of Rs 0.50 per Share | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 13 Aug 2026 · Rajputana Stainless: No Deviation In IPO Fund Usage For Q1 FY27 | compliance | minimal | — | — |
| 12 Aug 2026 · Record date 16-Sep-2026 fixed for AGM and dividend | corporate actions | 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 |
| 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) | 31.4 | 16.2 | 91 of 118 | 23% |
| P/B | 4.4 | 1.7 | 81 of 99 | 18% |
| ROCE | 17.7 | 8.7 | 13 of 120 | 90% |
| ROE | 13.7 | 8.6 | 26 of 114 | 78% |
| Debt / Equity | 0.2 | 0.1 | 61 of 114 | 47% |
| EBITDA margin | 10.1 | 11.0 | 54 of 100 | 47% |
| Market cap | 1594 | 247 | 30 of 120 | 76% |
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| 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.
