Zenith Steel Pipes & Industries Limited (ZENITHSTL)

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Zenith Steel Pipes & Industries Limited (ZENITHSTL) · mywealthgrid

About

Zenith Steel Pipes & Industries Limited operates in Iron & Steel Products within the Industrials sector.

Face value: ₹10

Market cap

₹73 Cr

P/E

18.1×

P/B

—

Dividend yield

ROE

—

ROCE

—

Debt / equity

—

OPM

-30.4%

EPS (TTM)

₹0.3

Book value

₹-17.5

52-week high

—

52-week low

—

2,170 historical price candles were omitted because the exchange source has not been verified.

₹5.1-1.7%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Revenue shrank over the last 5 years (-7.3% a year)
−Low promoter holding of 15.6%

Research score

Structured signal from quality, growth, valuation and momentum.

27/100

Business quality: 5
Growth: 0
Valuation: 77

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

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	162	174	184	101	78	163	165	143	119	53
COGS	0	12	8	61	48	95	123	80	54	30
Gross profit	—	162	175	41	30	68	42	63	65	23
	181	205	290	69	32	54	55	64	70	40
	-19	-42	-114	-29	-2	14	-12	-0	-5	-16
OPM %	-11.8%	-24.2%	-62.1%	-28.2%	-2%	8.8%	-7.6%	-0.2%	-4.4%	-30.4%
Depreciation	6	7	6	9	3	3	2	3	2	2
Interest	9	8	7	5	3	7	3	3	2	2
	1	17	35	14	-6	9	4	5	10	25
Profit before tax	-33	-41	-120	-28	-14	13	-14	-1	0	4
Tax	—	—	—	0	0	2	0	0	0	0
Tax %	—	—	—	0%	0%	12.4%	0%	0%	0%	0%
	-33	-41	-120	-28	-14	12	-14	-1	0	4
PAT margin %	-20.5%	-23.6%	-65.4%	-28%	-17.4%	7.1%	-8.7%	-0.5%	0.2%	8.2%
EPS (₹)	-2.5	-3.1	-9.2	-2.2	-1	0.8	-1	-0.1	0	0.3
EPS adjusted (₹)	-2.5	-3.1	-9.2	-2.2	-1	0.8	-1	-0.1	0	0.3
Annual report	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 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	131	131	131	131	142	142	142	142	142	142
Reserves	-186	-260	-373	-383	-396	-384	-399	-399	-399	-391
	275	273	261	225	228	227	220	215	215	220
	139	201	217	206	162	207	206	224	200	183
Total equity & liabilities	360	346	236	180	136	192	169	182	159	154
	97	80	75	66	48	44	45	44	42	40
CWIP	13	13	14	—	—	1	1	1	1	1
Investments	—	—	—	—	—	—	0	0	0	0
	249	253	147	114	88	147	123	138	116	113
Total assets	360	346	236	180	136	192	169	182	159	154

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	95.6%	40.1%	38.8%	42%	25.7%	44.3%	54.3%	43.9%
EBITDA margin %	-62.1%	-28.2%	-2%	8.8%	-7.6%	-0.2%	-4.4%	-30.4%
EBIT margin %	-65.4%	-37%	-5.6%	7.2%	-9.1%	-2%	-6.1%	-34%
PAT margin %	-65.4%	-28%	-17.4%	7.1%	-8.7%	-0.5%	0.2%	8.2%
Working capital
Receivable days	72	32	57	112	104	151	173	391
Inventory days	43	32	83	108	62	91	52	73
Payable days	—	—	—	—	273	409	604	957
NWC days	—	—	—	—	-106	-167	-379	-494
Leverage
Current ratio	0.31	0.27	0.23	0.35	0.3	0.27	0.23	0.23
Debt to EBITDA	—	—	—	15.8	—	—	—	—
Debt to equity	-1.08	-0.9	-0.9	-0.94	-0.86	-0.84	-0.84	-0.88
Interest coverage	-14.6	-5.1	1.8	1.9	-2.3	0.8	1.2	2.3
Asset turnover	0.78	0.56	0.57	0.85	0.98	0.79	0.75	0.35
Return ratios
Return on assets %	-50.9%	-15.8%	-10%	6%	-8.5%	-0.4%	0.1%	2.8%
Return on capital employed %	48.2%	10.5%	-2.7%	-6%	3.3%	-1.1%	-1.3%	-2.8%
Return on equity %	49.7%	11.3%	5.4%	-4.8%	5.6%	0.3%	-0.1%	-1.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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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
	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%	15.64%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.19%	0.12%	0.08%	0.08%	0.08%	0.08%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	84.17%	84.24%	84.28%	84.28%	84.28%	84.28%	84.34%	84.34%	84.34%	84.34%	84.34%	84.34%
No. of shareholders	—	—	—	—	—	—	—	—	81,560	80,093	79,750	79,262

Promoter holding up 0 percentage points since Sep 2023.

12 deals · 21 Apr 2022 – 22 Jan 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
22 Jan 2026	ENDOGRAM LEASING AND TRADING COMPANY PRIVATE LIMITED	Bulk	NSE	Sell	8,03,756	₹5.45	₹0.44 Cr
13 Jun 2025	IRAGE BROKING SERVICES LLP	Bulk	NSE	Sell	8,37,832	₹9.07	₹0.76 Cr
13 Jun 2025	IRAGE BROKING SERVICES LLP	Bulk	BSE	Buy	7,22,089	₹9.02	₹0.65 Cr
13 Jun 2025	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	5,95,704	₹9.25	₹0.55 Cr
13 Jun 2025	IRAGE BROKING SERVICES LLP	Bulk	BSE	Sell	4,81,918	₹9.25	₹0.45 Cr
16 Apr 2024	HI GROWTH CORPORATE SERVICES PVT LTD	Bulk	NSE	Sell	10,25,124	₹7.87	₹0.81 Cr
16 Apr 2024	HI GROWTH CORPORATE SERVICES PVT LTD	Bulk	NSE	Buy	5,95,298	₹7.85	₹0.47 Cr
19 Oct 2023	MULTIPLIER SHARE & STOCK ADVISORS PRIVATE LIMITED	Bulk	BSE	Buy	8,29,664	₹6.49	₹0.54 Cr
9 May 2022	ALPHA LEON ENTERPRISES LLP	Bulk	BSE	Buy	13,50,000	₹5.44	₹0.73 Cr
9 May 2022	ALPHA LEON ENTERPRISES LLP	Bulk	BSE	Sell	3,49,596	₹5.44	₹0.19 Cr

1–10 of 12

1 / 2

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.

Mrs. SADHANA AVINASH PATILNon-Executive - Independent Director-Chairperson
Mr. Pushkar NatuChief Operating Officer & Manager
Mr. PURUSHOTTAM D SONAVANENon-Executive - Non Independent Director
B GirvaneshChief Financial Officer
Mrs. MINAL UMESH POTEExecutive Director
Mr. PRAMOD SHIVAJI BHOSALENon-Executive - Non Independent Director
Ms. BHAVIKA SHARMANon-Executive - Independent Director
Mr. GANESH RAMESH MAHENDRAKARNon-Executive - Independent Director
Mr. Uday Anant SawantCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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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 Zenith Steel Pipes & Industries Limited. 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).

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Events

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

6

Final dividend7 Jul 2010 · ex-date₹0.6
Special dividend7 Jul 2010 · ex-date₹1.4
Dividend dividend15 Sept 2009 · ex-date₹0.6
Dividend dividend5 Sept 2008 · ex-date₹0.2
Interim dividend13 Feb 2008 · ex-date₹0.5
Dividend dividend6 Sept 2007 · ex-date₹0.6

1

Board meeting to consider results13 Aug 2026

1

Bonus 1:511 Aug 2010 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

30 Sept 2026, 9:31 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 12:42 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

11 Sept 2026, 2:13 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

8 Sept 2026, 12:01 amCorp. Action

Intimation Of Book Closure For 64Th Annual General Meeting

Book Closure PDF

7 Sept 2026, 11:51 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

7 Sept 2026, 11:46 pmAGM/EGM

Notice Of 64Th Annual General Meeting To Be Held On 30Th September, 2026

AGM PDF

24 Aug 2026, 11:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

18 Aug 2026, 1:27 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
30 Sept 2026, 9:31 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
29 Sept 2026, 12:42 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	95.6%	40.1%	38.8%	42%	25.7%	44.3%	54.3%	43.9%
EBITDA margin %	-62.1%	-28.2%	-2%	8.8%	-7.6%	-0.2%	-4.4%	-30.4%
EBIT margin %	-65.4%	-37%	-5.6%	7.2%	-9.1%	-2%	-6.1%	-34%
PAT margin %	-65.4%	-28%	-17.4%	7.1%	-8.7%	-0.5%	0.2%	8.2%
Working capital
Receivable days	72	32	57	112	104	151	173	391
Inventory days	43	32	83	108	62	91	52	73
Payable days	—	—	—	—	273	409	604	957
NWC days	—	—	—	—	-106	-167	-379	-494
Leverage
Current ratio	0.31	0.27	0.23	0.35	0.3	0.27	0.23	0.23
Debt to EBITDA	—	—	—	15.8	—	—	—	—
Debt to equity	-1.08	-0.9	-0.9	-0.94	-0.86	-0.84	-0.84	-0.88
Interest coverage	-14.6	-5.1	1.8	1.9	-2.3	0.8	1.2	2.3
Asset turnover	0.78	0.56	0.57	0.85	0.98	0.79	0.75	0.35
Return ratios
Return on assets %	-50.9%	-15.8%	-10%	6%	-8.5%	-0.4%	0.1%	2.8%
Return on capital employed %	48.2%	10.5%	-2.7%	-6%	3.3%	-1.1%	-1.3%	-2.8%
Return on equity %	49.7%	11.3%	5.4%	-4.8%	5.6%	0.3%	-0.1%	-1.8%

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

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	16	-3	17	5	7	-1
	-0	10	-4	-2	-3	-1
	-15	-7	-11	-7	-2	0
Net cash flow	1	0	2	-5	2	-2
Free cash flow	16	-3	14	3	7	-1
CFO / Operating profit %	—	-19.9%	—	—	—	—

Zenith Steel Pipes & Industries Limited

About

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

6

1

1

Announcements

6

1

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Zenith Steel Pipes & Industries Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends6

Board meetings1

Bonus issues1

Announcements

Dividends6

Board meetings1

Bonus issues1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

6

1

1

6

1

1