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Kalyani Steels Limited

Kalyani Steels Limited

KSL.NS
Kalyani Steels LimitedIN flagNational Stock Exchange of India
809.50
INR
-24.60
- -
35.34BMarket Cap
Kalyani Steels Limited
KSL.NS
(National Stock Exchange of India)

Recent

price

809.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
277.42
223.78
185.34
255.65
280.99
270.42
282.85
303.44
316.99
269.27
267.21
383.88
429.33
442.05
454.03
422.78
422.79
Revenue per Share
12.53
5.05
5.47
13.42
19.09
25.99
35.79
26.48
30.17
31.29
43.59
55.65
38.26
56.99
58.7
59.07
59.07
Basic EPS, GAAP
6.44
22.08
1.67
0.63
-7.23
14.49
31.53
36.28
60.43
51.03
10.58
21.14
-54.33
-58.03
81.72
18.17
- -
Free Cash Flow per Basic Share
1.24
1.99
1.16
1.76
3.5
0.02
- -
6.02
6.03
12.06
- -
7.5
10
10
10
10
- -
Dividend per Share
62.77
65.45
71.95
81.54
99.42
110.05
145.71
166.17
190.28
209.39
253.13
301.48
329.78
376.16
424.65
5.01
5.01
Book Value per Share
73.63
77.52
80.9
90.71
108.31
120.78
158.59
177.86
202.17
219.51
263.12
313.16
341.14
384.78
433.24
482.11
482.12
Tangible Book Value per Share
44
44
44
44
44
44
44
44
44
44
44
44
44
44
44
44
44
Basic Weighted Avg Shares
12,110
9,768
8,091
11,160
12,266
11,805
12,347
13,246
13,838
11,754
11,664
16,758
18,742
19,297
19,819
18,456
18,456
Sales/Revenue/Turnover
6.85
2.57
6.97
9.09
11.14
16.53
19.05
12.76
12.57
15.19
18.8
17.47
12.31
16.08
15.62
16.48
16.48
Operating Margin (%)
295
261
236
340
310
518
521
372
384
427
442
459
489
608
634
570
570
Depreciation Expense
547
220
239
586
833
1,135
1,562
1,156
1,317
1,366
1,903
2,429
1,670
2,488
2,562
2,579
2,579
Net Income, GAAP
20.22
1.82
36.74
34.51
32.82
34.72
34.68
34.13
31.51
18.67
25.41
25.45
25.79
25.31
26.01
25.86
25.86
Effective Tax Rate (%)
4.52
2.26
2.95
5.25
6.79
9.61
12.65
8.73
9.52
11.62
16.31
14.5
8.91
12.89
12.93
13.97
13.97
Profit Margin (%)
1,414
1,161
1,403
1,879
2,352
450
1,838
2,386
3,405
4,307
5,892
8,897
9,193
6,072
7,520
9,089
9,089
Working Capital
899
831
1,252
1,267
1,571
1,152
652
236
74
46
233
1,895
1,850
834
- -
- -
- -
LT Debt
3,214
3,384
3,546
3,979
4,759
5,321
6,962
7,795
8,847
9,594
11,494
13,675
14,895
16,799
18,916
21,049
21,049
Total Equity
12.82
4.57
6.88
12.19
14.8
16.74
17.01
11.74
12.79
15.53
14.31
13.92
8.99
10.81
9.9
9.15
9.15
Return on Invested Capital (%)
14.41
10.57
5.06
13.01
15.46
16.75
19.21
13.52
15.34
15.94
17.67
16.35
10.12
12.8
11.92
18.96
18.96
Return on Capital (%)
19.86
7.87
7.96
17.49
21.09
24.81
27.99
16.98
16.93
15.66
18.85
20.07
12.12
16.15
14.66
27.5
27.5
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
4,276
- -
4,750
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
44
- -
44
Market Capitalization
33,252
33,657
25,221

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
13,093
- -
17,088
Cash, Cash Equivalents & STI
5,589
- -
8,618
Accounts Receivable, Net
4,440
- -
4,963
Inventories
2,592
- -
2,854
Total Current Liabilities
7,832
- -
7,999
Payables & Accruals
- -
- -
- -
ST Debt
4,276
- -
4,750
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
14.91%
12.91%
11.28%
Free Cash Flow
-46.45%
-113.78%
-77.76%
Net Income, GAAP
11.77%
9.8%
0.64%
Sales/Revenue/Turnover
5.48%
10.86%
-6.88%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,968
4,801
4,798
4,730
19,297
2025
4,615
4,921
4,840
5,443
19,819
2026
4,428
4,561
4,624
4,844
18,456

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
14.03
13.36
14.97
- -
56.99
2025
11.96
15.44
12.93
18.37
58.7
2026
14.13
14.33
14.19
16.42
59.07

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
10
2025
- -
- -
- -
- -
10
2026
- -
- -
- -
- -
10
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Business
Kalyani Steels Limited (KSL.NS), established in 1973 and headquartered in Pune, India, manufactures forging and engineering quality carbon and alloy steels using the blast furnace route at its integrated facility in Ginigera, Karnataka; the company produces rolled bars for automotive applications such as crankshafts, camshafts, connecting rods, gears, transmission shafts, axle beams and steering knuckles used in commercial vehicles, passenger cars and construction equipment; rolled bars for engineering applications; rounds for the seamless tube industry including boiler grade and creep resistant grades like SA213-T11 and SA213-T22 conforming to specifications such as SAE, BS, DIN, JIS and API; and machined bars with low electrical resistivity for the primary aluminium smelting industry. KSL operates primarily in India, serving the automotive sector which accounts for around 80% of sales, along with oil & gas, energy, bearings, seamless pipes, engineering and railways; it functions as a backward integration unit for the Kalyani Group, with group companies like Bharat Forge Limited and Kalyani Technoforge Limited representing 55-60% of net sales, while maintaining approved vendor status and repeat orders from external OEMs. In recent developments, KSL acquired assets of Kamineni Steel & Power India Private Limited for approximately ₹505 crore in February 2024, funded through internal accruals; signed a memorandum of understanding with the Government of Odisha on February 23, 2024, for a ₹11,750 crore investment in a 0.7 MTPA integrated advanced specialty steel and titanium metal/alloy manufacturing complex at Gajamara in Dhenkanal district; and commissioned a coke oven plant in March 2023, enhancing operational efficiency and contributing to PBILDT margins of 18-20% in FY24 and H1FY25.