NSE: STLSTRINF · BSE: 513173
STEEL STRIPS INFRA L
Operated SAB Mall in NOIDA as a commercial real estate property that contributed 97.93% of FY26 revenue, equal to Rs 136.03 lakhs. Standalone FY26 revenue stood at Rs 136.03 lakhs (down from Rs 143.07 lakhs in FY25), against employee costs of 29.3% of revenue and other operating expenses of 124.2% of revenue. The standalone business posted a net loss of Rs 86.43 lakhs in FY26, and net worth was negative at Rs 1.78 crore as of March 31, 2026. In June 2026, an addendum was executed to sell SAB Mall, with total balance consideration of Rs 2.25 crore received (Rs 1.25 crore from SMC Enterprises for sale consideration and Rs 1 crore from sister concern Shubham Properties for management rights), pending NOIDA Authority dues clearance for sub-lease deed completion. Consolidated FY26 results also reflected losses driven by the share of associate Malwa Chemtex Udyog, producing a consolidated net loss of Rs 1,684.63 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. SAB Mall, NOIDA (98%). Single-asset commercial real estate operator undergoing asset divestment
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | (1) | (1) | (1) | (1) | (1) |
| margin % | (113.0) | (89.8) | (87.5) | (60.7) | (53.5) |
| Owners' profit | 31 | (2) | 26 | (17) | (3) |
| EPS, as reported (₹) | 35.49 | (1.96) | 29.54 | (19.49) | (3.99) |
| ROE % · ROCE % | 46.7 · (1.6) | (2.7) · (1.5) | 28.5 · (1.1) | (23.6) · (1.1) | (5.2) · (1.0) |
| Debt / equity (x) | 0.07 | 0.05 | 0.02 | 0.00 | 0.00 |
| Cash from operations | 1 | 1 | 1 | 1 | (0) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | (0) | (0) | (0) | (0) | (0) | (0) |
| Net profit | (2) | (0) | (6) | (8) | 33 | (17) | (11) | (9) |
| EPS (₹) | (2.52) | (0.46) | (7.32) | (9.18) | 38.48 | (19.74) | (12.59) | (10.14) |
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. % |
|---|---|---|---|---|---|---|---|---|
| KESAR INDIA LIMITED | 3,089 | 82.0 | 12.40 | 67.0 | 12.0 | 15.2 | — | 26.9 |
| MEGHNA INFRACON INFRA L | 1,460 | 215.4 | 54.28 | 143.3 | 20.8 | 33.9 | — | 15.3 |
| India Homes Limited | 1,015 | — | 27.41 | — | (31.0) | (17.8) | — | — |
| B-RIGHT REALESTATE LIMITED | 954 | 26.6 | — | — | — | 19.2 | — | — |
| SHRADDHA PRIME PROJECTS L | 666 | 11.9 | 4.88 | 11.3 | 39.1 | 20.2 | — | 16.1 |
| YOGI LTD. | 656 | 31.5 | 4.61 | 25.6 | 14.9 | 15.6 | — | 5.1 |
| HAZOOR MULTI PROJECTS LTD | 409 | 5.5 | 0.66 | 3.1 | 6.8 | 5.8 | — | 86.5 |
| RDB INFRASTRUCTURE AND POWER L | 340 | 17.3 | 1.28 | 21.5 | 4.7 | 5.7 | 16.3 | 23.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.3 | 1.1 | 4 of 70 | 96% |
| ROCE | (1.0) | 1.9 | 68 of 88 | 23% |
| ROE | (5.2) | 1.6 | 61 of 73 | 17% |
| Debt / Equity | 0.0 | 0.3 | 1 of 73 | 76% |
| EBITDA margin | (21.9) | 15.3 | 47 of 59 | 21% |
| Revenue growth | 2.3 | (11.0) | 25 of 64 | 62% |
| Profit growth | (10.4) | (48.8) | 33 of 79 | 59% |
| Market cap | 17 | 30 | 60 of 88 | 32% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 8 Oct 2026 · Routine SEBI compliance filing on share dematerialization for Sep 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · All 4 resolutions passed at Steel Strips Infra 53rd AGM with 99.99% approval | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Steel Strips Infra reappoints MD and Independent Director at AGM | management changes | high | — | — |
| 30 Sept 2026 · Outcome of 53rd AGM held on 30 Sept 2026 | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading window closure from Oct 1, 2026 till Q2 results | compliance | minimal | — | — |
| 5 Sept 2026 · AGM notice published; 53rd AGM on Sep 30, 2026 | compliance | minimal | — | — |
| 2 Sept 2026 · Annual Report FY 2025-26 web link sent to unregistered-email shareholders | compliance | minimal | — | — |
| 2 Sept 2026 · Steel Strips Infra FY26 annual report: loss narrows, SAB Mall sale in progress | general | low | — | — |
| 24 Aug 2026 · AGM scheduled on 30 Sep 2026; book closure from 24 Sep | 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.