Manufactures thermo-mechanically treated (TMT) steel bars and runs a food/agro products business. The Steel division operates a plant at Urla Industrial Complex, Raipur, Chhattisgarh, which was temporarily shut from 18 November 2025 to 6 February 2026 for scheduled maintenance and capacity expansion. The Agro division sells food products across more than 35 cities in seven countries, with a recent push into West African markets and automation-led cost optimisation. The company has wound down its partnership interest in associate Shri Bajrang Chemical Distillery LLP, redirecting capital into its core Steel Rolling and Food businesses. Materials are the largest cost at 76% of revenue, with employee costs at 4.9% and other operating expenses at 13.9% in FY26. The Steel plant shutdown pulled FY26 standalone revenue down to Rs 270.98 crore, a year-on-year fall of about 32%, while net profit for the year stood at Rs 44.27 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Steel (TMT bars), Agro / Food. Asset-heavy steel roller with a smaller, geographically diversified agro/food business.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 171 | 524 | 570 | 398 | 271 |
| EBITDA (ex other income) | 10 | 11 | 5 | 4 | 4 |
| margin % | 5.9 | 2.0 | 0.8 | 1.0 | 1.4 |
| Owners' profit | 72 | 34 | 0 | 33 | 44 |
| EPS, as reported (₹) | 80.08 | 37.97 | 45.40 | 36.22 | 49.18 |
| ROE % · ROCE % | 32.0 · 3.9 | 13.2 · 3.4 | 13.6 · 1.9 | 9.7 · 1.1 | 11.5 · 1.3 |
| Debt / equity (x) | 0.18 | 0.21 | 0.20 | 0.29 | 0.27 |
| Cash from operations | 21 | (3) | (1) | (24) | (10) |
| Capex | 0 | 0 | 0 | (4) | (16) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 130 | 80 | 107 | 80 | 89 | 87 | 47 | 47 |
| Profit before tax | 0 | 0 | 0 | 2 | 2 | 2 | (4) | 4 |
| Net profit | 7 | 8 | 7 | 11 | 9 | 10 | 6 | 19 |
| EPS (₹) | 7.73 | 8.34 | 7.56 | 12.59 | 9.53 | 11.23 | 6.86 | 21.56 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Domestic | 256 | 94.3 |
| Export | 15 | 5.7 |
| Total, before eliminations | 271 | 100.0 |
| 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 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · 36th AGM: All 6 resolutions passed, two RPTs with group entities approved | board shareholder meetings | medium | — | — |
| 10 Sept 2026 · 36th AGM held on Sept 10, 2026; results awaited | board shareholder meetings | low | — | — |
| 19 Aug 2026 · 36th AGM notice published; meeting on Sep 10, 2026 | compliance | minimal | — | — |
| 17 Aug 2026 · Annual Report FY 2025-26 and AGM notice filed with BSE | results | high | — | — |
| 17 Aug 2026 · Shri Bajrang Alliance 36th AGM on September 10 via video conferencing; e-voting and RPT approvals | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Q1 FY27 Results Published in Newspapers | compliance | minimal | — | — |
| 11 Aug 2026 · Q1 FY27 Investor Presentation Filed with BSE | investor communications | medium | — | — |
| 11 Aug 2026 · Q1 FY27 results: board approves standalone and consolidated financials | results | high | — | — |
| 11 Aug 2026 · Q1 FY27 results approved, auditor review clean, associate divested | results | high | — | — |
| 4 Aug 2026 · Board meeting on Aug 11 to consider Q1 FY26 unaudited results | results | low | — | — |
| 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 |
| 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 | 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) | 3.1 | 16.2 | 13 of 118 | 90% |
| P/B | 0.4 | 1.7 | 7 of 99 | 93% |
| ROCE | 0.9 | 8.7 | 99 of 120 | 18% |
| ROE | 11.5 | 8.6 | 39 of 114 | 66% |
| Debt / Equity | 0.3 | 0.1 | 75 of 114 | 35% |
| EBITDA margin | 10.3 | 11.0 | 53 of 100 | 48% |
| Revenue growth | (41.2) | 13.7 | 87 of 97 | 10% |
| Profit growth | 71.3 | 29.3 | 36 of 105 | 66% |
| Market cap | 140 | 247 | 70 of 120 | 42% |
| 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.
