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Ahmedabad Steelcraft Ltd (AHMDSTE) · mywealthgrid

About

Ahmedabad Steelcraft manufactures iron & steel products for industrial use. At ₹274.9 Cr market cap, it is a micro-cap that was dormant through 2023 and early 2024, then restarted operations mid-2024, reaching ₹65.3 Cr quarterly revenue by March 2025.

Face value: ₹10

Market cap

₹239 Cr

P/E

22.3×

P/B

1.8×

Dividend yield

ROE

16.8%

ROCE

22.3%

Debt / equity

0.02

OPM

11.5%

EPS (TTM)

₹7.1

Book value

₹87.2

52-week high

₹237.2

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operational continuity unproven: company generated near-zero revenue from mid-2023 through Q4 FY24, then rebounded sharply. Verify whether restart is durable or driven by temporary demand.
Thin margins persist even in recovery phase: best OPM of 9.01% (Dec 2024) declines to 7.29% (Mar 2025) and 3.96% (Sep 2024), compressing profit on even small cost shocks.
Valuation disconnect: PE of 25.68 prices in growth the early-stage restart has not yet proven; stock fell 22% over 12 months despite operational recovery.
Zero institutional participation (FII/DII = 0%) signals limited confidence from professional investors despite promoter majority holding.

Generated analysis · source review pending

Growth drivers

Revenue recovery post-restart: quarterly revenue grew from ₹0.02 Cr (Mar 2024) to ₹65.3 Cr (Mar 2025), a 3,200× increase across four quarters.
Margin recovery as fixed costs absorb into volume: OPM swung from -446% (Dec 2023) to +9.01% (Dec 2024) over 12 months as quarterly revenue expanded from ₹0.07 Cr to ₹68.15 Cr.
Debt-free balance sheet (D/E = 0) provides capital flexibility for reinvestment or strategic moves if management pursues them.
Micro-cap scale and zero institutional holding create potential re-rating opportunity if operational stability extends and research coverage expands.

Generated analysis · source review pending

₹158.4-15.7%1Y

Beta

1.39

Amplifies index moves

Volatility (1y)

67.9%

Annualised, daily returns

RSI (14)

Neither overbought nor oversold

Rel. strength (1y)

-24.9%

Behind the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

+Revenue CAGR of 157.9% over the last 5 years
+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 192.8×
+High promoter holding of 71.4% with no pledge

Cons

−Low return on equity of 8.7% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 65
Growth: 100
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Welspun Corp LimitedWELCORPWELCORP	₹68,741 Cr	₹70,904 Cr	₹17,300 Cr	₹2,403 Cr	13.3%	₹2,309 Cr	9.7%	19.2%	19.4%	85
Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO	₹58,753 Cr	₹59,205 Cr	₹22,897 Cr	₹1,841 Cr	7.8%	₹1,229 Cr	5.2%	30.8%	25.3%	-12
Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL	₹29,244 Cr	₹30,225 Cr	₹19,574 Cr	₹2,519 Cr	12.6%	₹860 Cr	5.7%	13.5%	9.7%	8
Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI	₹18,362 Cr	₹18,666 Cr	₹4,314 Cr	₹732 Cr	16.9%	₹433 Cr	11.9%	17.8%	12.5%	210
Jindal Saw LimitedJINDALSAWJINDALSAW	₹17,286 Cr	₹21,976 Cr	₹18,263 Cr	₹1,941 Cr	12.4%	₹653 Cr	5.2%	11.4%	8.1%	159
Usha Martin LimitedUSHAMARTUSHAMART	₹14,982 Cr	₹15,128 Cr	₹3,837 Cr	₹768 Cr	19.1%	₹507 Cr	12.6%	20%	15.4%	190
Godawari Power And Ispat LimitedGPILGPIL	₹14,517 Cr	₹14,943 Cr	₹5,808 Cr	₹1,263 Cr	23.3%	₹808 Cr	14.9%	20.1%	14.9%	73
Gallantt Ispat LimitedGALLANTTGALLANTT	₹12,793 Cr	₹13,340 Cr	₹4,437 Cr	₹655 Cr	16.2%	₹436 Cr	11%	19.2%	15.7%	58
Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES	₹9,363 Cr	₹9,377 Cr	₹4,620 Cr	₹696 Cr	14.6%	₹737 Cr	15%	13.6%	10.6%	153
Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND	₹8,863 Cr	₹10,960 Cr	₹7,589 Cr	₹1,409 Cr	18.6%	₹564 Cr	6.5%	22.9%	17.8%	151
Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG	₹7,812 Cr	₹8,286 Cr	₹3,995 Cr	₹476 Cr	12.1%	₹206 Cr	5.1%	3.8%	2.3%	95
Man Industries (India) LimitedMANINDSMANINDS	₹6,912 Cr	₹7,411 Cr	₹3,875 Cr	₹532 Cr	12.3%	₹204 Cr	4.8%	18.4%	9.2%	114

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	4	9	10	7	2	1	2	1	172	221
COGS	—	—	-5	-9	-6	2	0	2	1	157	194
Gross profit	—	—	—	—	—	0	0	0	0	14	28
	4	5	14	20	14	2	2	2	5	2	2
	-1	-1	-1	-1	-2	-1	-1	-1	-5	12	25
OPM %	-27.6%	-29.4%	-11.7%	-11.1%	-22.7%	-62.9%	-170%	-55.7%	-609.1%	7%	11.5%
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Interest	—	—	0	0	—	0	0	0	0	0	0
	2	1	1	3	1	1	1	1	2	0	0
Profit before tax	1	0	0	1	-1	-0	-1	-1	-3	12	25
Tax	—	—	—	0	—	-0	0	0	-0	2	6
Tax %	—	—	—	0%	—	-32.4%	7.1%	4.8%	-12%	14.2%	25.2%
	1	0	0	1	-1	-0	-1	-1	-2	11	19
PAT margin %	26.3%	2.6%	2.3%	12.2%	-12.9%	-11.9%	-85.7%	-29.9%	-297.4%	6.2%	8.4%
EPS (₹)	—	—	—	—	-2.2	-0.6	-1.5	—	-5.6	25.7	13.5
EPS adjusted (₹)	—	—	—	—	-2.2	-0.6	-1.5	-1.6	-5.6	11.1	12.4
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	4	4	4	4	4	10	15
Reserves	—	21	21	21	19	81	117
Minority interest	—	0	—	—	—	—	—
	—	0	0	0	0	0	3
	—	1	1	1	0	35	85
Total equity & liabilities	—	26	26	26	23	125	220
	4	4	4	4	0	0	4
CWIP	—	—	—	—	—	0	1
Investments	—	15	15	14	16	0	0
	—	7	7	8	7	124	215
Total assets	—	26	26	26	23	125	220

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1	-1	-2	-0	-77	-22
	1	1	2	4	18	-4
	-0	-0	-0	-0	56	25
Net cash flow	0	-0	-0	3	-3	-0
Free cash flow	-1	-1	—	—	-77	-26
CFO / Operating profit %	—	—	—	—	-636.2%	-85.7%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	16%	58.6%	16.7%	33.8%	8.4%	12.5%

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.89%	67.89%	67.89%	67.89%	67.89%	67.89%	70.3%	71.42%	71.42%	71.42%	71.42%	71.42%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	32.11%	32.11%	32.11%	32.11%	32.11%	32.11%	29.7%	28.58%	28.58%	28.58%	28.58%	28.58%
No. of shareholders	—	—	—	—	—	—	—	—	2,724	3,072	3,166	3,138

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Ahmedabad Steelcraft Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

8

Dividend dividend14 Aug 2019 · ex-date₹0.5
Dividend dividend10 Sept 2018 · ex-date₹0.5
Dividend dividend31 Aug 2017 · ex-date₹0.5
Dividend dividend31 Aug 2016 · ex-date₹0.75
Dividend dividend26 Aug 2014 · ex-date₹1
Dividend dividend14 Aug 2013 · ex-date₹1
Dividend dividend13 Sept 2012 · ex-date₹1
Dividend dividend19 Sept 2011 · ex-date₹1

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

18 announcementsExport CSV

30 Sept 2026, 8:24 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

29 Sept 2026, 3:58 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

4 Sept 2026, 3:51 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

3 Sept 2026, 7:26 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

3 Sept 2026, 6:57 pmAGM/EGM

Notice Of 54Th AGM For The Financial Year 2025-26 Of Ahmedabad Steelcraft Limited

AGM PDF

31 Aug 2026, 2:09 pmCompany Update

Announcement under Regulation 30 (LODR)-Meeting Updates

Meeting Updates PDF

31 Aug 2026, 2:04 pmCompany Update

Announcement under Regulation 30 (LODR)-Meeting Updates

Meeting Updates PDF

31 Aug 2026, 1:58 pmOthers

Board Meeting Outcome for Outcome Of 3Rd Board Meeting Of Ahmedabad Steel Craft Limited

Outcome without intimation PDF

Date	Category	Subject	Filing
30 Sept 2026, 8:24 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 3:58 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

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6 deals · 22 Sept 2023 – 19 Aug 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Aug 2025	NIRAJ RAJNIKANT SHAH	Bulk	BSE	Sell	23,000	₹182.44	₹0.42 Cr
5 Aug 2024	HOMI ADI KATGARA	Bulk	BSE	Sell	29,700	₹168.65	₹0.50 Cr
5 Aug 2024	ROYDON PETER GONSALVES	Bulk	BSE	Sell	24,350	₹168.65	₹0.41 Cr
26 Sept 2023	VINODCHANDRA MANSUKHLAL PAREKH	Bulk	BSE	Sell	25,892	₹29.29	₹0.08 Cr
22 Sept 2023	7M DEVELOPERS LLP	Bulk	BSE	Buy	21,665	₹27.78	₹0.06 Cr
22 Sept 2023	V M PAREKH	Bulk	BSE	Sell	21,525	₹27.78	₹0.06 Cr

1–6 of 6

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Working capital
Receivable days	—	—	290	725	386	0	260	349

Leverage
Current ratio	—	—	9.73	15.72	10.75	16.71	3.57	2.51

Return ratios
Return on assets %	—	—	-0.9%	-2.3%	-2.5%	-9.8%	8.6%	8.5%

Ahmedabad Steelcraft Ltd

Ahmedabad Steelcraft Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

8

1

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

8

1

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

Ahmedabad Steelcraft Ltd

Ahmedabad Steelcraft Ltd

About

Key insights

Key risks

Growth drivers

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends8

Board meetings1

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Dividends8

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

8

1

8

1