Shah Metacorp Ltd

SHAH

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Market Cap

₹ 276 Cr

P/E

27.44

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

EXCEPTIONAL

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Shah Metacorp Limited is a leading Indian manufacturer and exporter of stainless steel products, including stainless steel equal angle bars and bright bars.

The company, originally established as Shreenath Mineral Metal Private Limited, has undergone multiple rebranding efforts, finally becoming Shah Metacorp Limited in 2023.

In FY 2016-17, Shah Metacorp expanded strategically by acquiring a 26% stake in Goldman Hotels and Resorts Private Limited.

In a diversification effort, the company recently altered its objects clause to include agricultural and other chemical products.

The incorporation of Shah Agrocorp Private Limited as a wholly-owned subsidiary marks an expansion into agribusiness ventures.

Sector

Steel

Industry

Steel - Medium / Small

Market Cap

276 Cr

Volatility

Low Risk

P/E Ratio

27.4

Industry P/E

24.2

PEG Ratio

0.0

P/B Ratio

1.0

52W High

5.50

52W Low

2.72

Sales CAGR

82.04%

104.26%

21.42%

10Y

-0.52%

Profit CAGR

665.26%

—

10Y

—

ROE

TTM

3.29%

16.02%

-26.11%

10Y

-25.81%

ROCE

TTM

2.23%

11.14%

-11.83%

10Y

-11.15%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GEEKAYWIRE	32.75	342 Cr	10.53	2.20	0.99	20.29	17.94	10.29
SUPERSHAKT	291.00	335 Cr	26.01	1.24	0.17	6.50	8.80	5.77
JAYBEE	123.95	280 Cr	11.01	1.89	0.00	9.69	13.81	6.53
SHAH	4.49	276 Cr	27.44	0.97	0.00	3.29	2.23	2.11
VMSTMT	53.90	267 Cr	18.09	1.20	0.00	0.00	0.00	—
SURAJ	231.70	264 Cr	16.47	1.70	0.91	10.35	13.22	8.74
RATHIST	28.43	246 Cr	31.24	1.89	0.00	5.58	8.47	2.62

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	16	21	13	41	46	49	40	41	29	67
Expenses	17	21	11	39	43	46	38	39	26	65
Operating Profit	-0.79	0.60	1.47	2.12	3.44	2.74	2.30	2.63	3.17	1.65
OPM %	-4.86	2.81	11.39	5.12	7.43	5.64	5.77	6.34	10.97	2.47
Other Income	3.00	1.09	0.21	0.17	25	0.65	1.71	0.69	0.71	0.63
Interest	0.00	0.00	0.00	0.00	0.01	0.00	0.03	0.01	0.00	0.32
Depreciation	0.93	0.92	0.88	0.79	0.83	0.90	0.87	1.02	1.07	1.06
Profit Before Tax	1.28	0.76	0.80	1.50	27	2.49	3.11	2.29	2.81	0.91
Tax %	2.34	0.00	3.75	5.33	15.00	0.80	3.86	-66.38	11.03	12.09
Net Profit	1.25	0.76	0.77	1.42	23	2.47	3.00	3.81	2.49	0.79
EPS in Rs	0.02	0.01	0.01	0.02	0.27	0.03	0.04	0.05	0.03	0.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	173	95	148	65	13	20	40	97	176	159
Expenses	161	98	157	78	94	30	44	93	165	148
Operating Profit	12	-2.66	-9.29	-13	-82	-9.54	-4.05	3.59	11	11
OPM %	6.83	-2.79	-6.28	-19.95	-650.65	-47.58	-10.15	3.71	6.35	6.83
Other Income	0.21	0.16	1.02	8.75	0.23	14	7.00	4.35	28	3.76
Interest	12	10	6.60	5.96	6.17	0.54	0.33	0.01	0.04	0.04
Depreciation	9.20	7.89	6.65	5.54	4.54	3.67	2.92	3.52	3.63	3.86
Profit Before Tax	-9.30	-21	-22	-16	-92	0.37	-0.29	4.40	35	11
Tax %	35.13	13.51	5.72	12.58	19.48	1,637.15	675.03	3.21	7.79	-10.00
Net Profit	-6.03	-18	-20	-14	-74	-5.63	1.65	4.26	33	12
EPS in Rs	—	—	-0.23	-0.15	-0.83	-0.12	-0.02	0.05	0.39	0.13
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	16	16	16	16	16	16	16	33	42	59
Reserves	64	60	42	22	8.05	-66	-47	-16	15	106
Borrowings	95	101	81	74	76	93	79	67	37	18
Other Liabilities	68	76	89	87	85	72	39	35	44	15
Total Liabilities	242	252	229	198	184	115	87	120	138	198
Fixed Assets	56	48	42	34	29	24	21	25	21	28
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	186	204	187	164	155	90	66	96	117	170
Total Assets	242	252	229	198	184	115	87	120	138	198

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-2.98	3.81	20	7.95	4.05	-11	-21	-0.34	-32	-47
Cash from Investing Activity	3.76	-2.21	-1.82	0.84	0.01	0.08	0.12	-6.63	-0.32	-9.86
Cash from Financing Activity	-1.48	-0.88	-19	-8.97	-4.02	11	21	35	4.42	57
Net Cash Flow	-0.70	0.72	-0.38	-0.18	0.03	-0.20	0.17	28	-28	-0.12

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jul 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Aug 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Jul 2025	Sep 2025
Promoters	36.16%	36.16%	36.16%	36.20%	36.18%	29.81%	29.81%	30.87%	30.87%	34.77%	29.15%	29.15%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%
Public	63.84%	63.84%	63.84%	63.80%	63.82%	70.19%	70.13%	69.13%	69.13%	65.23%	70.85%	70.81%
Total Shareholders	37,969	43,511	54,366	66,903	82,357	82,368	1,08,503	82,368	1,19,847	1,19,847	1,19,872	1,19,898

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Oct 31, 2025	Dhanjit real trade llp	Bulk	Buy	4.82	4.64 Cr	96,35,599	1.08
Oct 31, 2025	Dhanjit real trade llp	Bulk	Sell	4.81	4.44 Cr	92,33,670	1.04
Oct 30, 2025	Marwadi chandarana intermedia...	Bulk	Buy	4.80	0.58 Cr	12,01,484	0.13
Oct 30, 2025	Dhanjit real trade llp	Bulk	Buy	4.70	2.34 Cr	49,76,178	0.56
Oct 30, 2025	Dhanjit real trade llp	Bulk	Sell	4.77	2.29 Cr	48,07,922	0.54
Oct 30, 2025	Marwadi chandarana intermedia...	Bulk	Sell	4.67	1.83 Cr	39,23,680	0.44
Oct 29, 2025	Marwadi chandarana intermedia...	Bulk	Buy	4.63	1.74 Cr	37,63,926	0.42
Oct 29, 2025	Dhanjit real trade llp	Bulk	Buy	4.46	1.35 Cr	30,32,124	0.34
Oct 29, 2025	Marwadi chandarana intermedia...	Bulk	Sell	4.64	0.12 Cr	2,68,810	0.03
Oct 29, 2025	Dhanjit real trade llp	Bulk	Sell	4.47	0.91 Cr	20,42,124	0.23

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q3 FY23

Investor Presentation

Q3 FY23

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Oscillators

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Bearish

Neutral

Bullish

Overall

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Bearish

Neutral

Bullish

Moving Averages

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Overall

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	16	21	13	41	46	49	40	41	29	67
Expenses	17	21	11	39	43	46	38	39	26	65
Operating Profit	-0.79	0.60	1.47	2.12	3.44	2.74	2.30	2.63	3.17	1.65
OPM %	-4.86	2.81	11.39	5.12	7.43	5.64	5.77	6.34	10.97	2.47
Other Income	3.00	1.09	0.21	0.17	25	0.65	1.71	0.69	0.71	0.63
Interest	0.00	0.00	0.00	0.00	0.01	0.00	0.03	0.01	0.00	0.32
Depreciation	0.93	0.92	0.88	0.79	0.83	0.90	0.87	1.02	1.07	1.06
Profit Before Tax	1.28	0.76	0.80	1.50	27	2.49	3.11	2.29	2.81	0.91
Tax %	2.34	0.00	3.75	5.33	15.00	0.80	3.86	-66.38	11.03	12.09
Net Profit	1.25	0.76	0.77	1.42	23	2.47	3.00	3.81	2.49	0.79
EPS in Rs	0.02	0.01	0.01	0.02	0.27	0.03	0.04	0.05	0.03	0.01

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	173	95	148	65	13	20	40	97	176	159
Expenses	161	98	157	78	94	30	44	93	165	148
Operating Profit	12	-2.66	-9.29	-13	-82	-9.54	-4.05	3.59	11	11
OPM %	6.83	-2.79	-6.28	-19.95	-650.65	-47.58	-10.15	3.71	6.35	6.83
Other Income	0.21	0.16	1.02	8.75	0.23	14	7.00	4.35	28	3.76
Interest	12	10	6.60	5.96	6.17	0.54	0.33	0.01	0.04	0.04
Depreciation	9.20	7.89	6.65	5.54	4.54	3.67	2.92	3.52	3.63	3.86
Profit Before Tax	-9.30	-21	-22	-16	-92	0.37	-0.29	4.40	35	11
Tax %	35.13	13.51	5.72	12.58	19.48	1,637.15	675.03	3.21	7.79	-10.00
Net Profit	-6.03	-18	-20	-14	-74	-5.63	1.65	4.26	33	12
EPS in Rs	—	—	-0.23	-0.15	-0.83	-0.12	-0.02	0.05	0.39	0.13
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	16	16	16	16	16	16	16	33	42	59
Reserves	64	60	42	22	8.05	-66	-47	-16	15	106
Borrowings	95	101	81	74	76	93	79	67	37	18
Other Liabilities	68	76	89	87	85	72	39	35	44	15
Total Liabilities	242	252	229	198	184	115	87	120	138	198
Fixed Assets	56	48	42	34	29	24	21	25	21	28
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	186	204	187	164	155	90	66	96	117	170
Total Assets	242	252	229	198	184	115	87	120	138	198

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-2.98	3.81	20	7.95	4.05	-11	-21	-0.34	-32	-47
Cash from Investing Activity	3.76	-2.21	-1.82	0.84	0.01	0.08	0.12	-6.63	-0.32	-9.86
Cash from Financing Activity	-1.48	-0.88	-19	-8.97	-4.02	11	21	35	4.42	57
Net Cash Flow	-0.70	0.72	-0.38	-0.18	0.03	-0.20	0.17	28	-28	-0.12

Overview

Detailed Summary

Shah Metacorp Limited is a leading Indian manufacturer and exporter of stainless steel products, including stainless steel equal angle bars and bright bars.

The company, originally established as Shreenath Mineral Metal Private Limited, has undergone multiple rebranding efforts, finally becoming Shah Metacorp Limited in 2023.

In FY 2016-17, Shah Metacorp expanded strategically by acquiring a 26% stake in Goldman Hotels and Resorts Private Limited.

In a diversification effort, the company recently altered its objects clause to include agricultural and other chemical products.

The incorporation of Shah Agrocorp Private Limited as a wholly-owned subsidiary marks an expansion into agribusiness ventures.

Sector

Steel

Industry

Steel - Medium / Small

Market Cap

276 Cr

Volatility

Low Risk

P/E Ratio

27.4

Industry P/E

24.2

PEG Ratio

0.0

P/B Ratio

1.0

52W High

5.50

52W Low

2.72

Sales CAGR

82.04%

104.26%

21.42%

10Y

-0.52%

Profit CAGR

665.26%

—

10Y

—

ROE

TTM

3.29%

16.02%

-26.11%

10Y

-25.81%

ROCE

TTM

2.23%

11.14%

-11.83%

10Y

-11.15%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GEEKAYWIRE	32.75	342 Cr	10.53	2.20	0.99	20.29	17.94	10.29
SUPERSHAKT	291.00	335 Cr	26.01	1.24	0.17	6.50	8.80	5.77
JAYBEE	123.95	280 Cr	11.01	1.89	0.00	9.69	13.81	6.53
SHAH	4.49	276 Cr	27.44	0.97	0.00	3.29	2.23	2.11
VMSTMT	53.90	267 Cr	18.09	1.20	0.00	0.00	0.00	—
SURAJ	231.70	264 Cr	16.47	1.70	0.91	10.35	13.22	8.74
RATHIST	28.43	246 Cr	31.24	1.89	0.00	5.58	8.47	2.62