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    Basic Materials

  3. •

    Steel
Shah Metacorp Limited

Shah Metacorp Limited

SHAH.BO
Shah Metacorp LimitedIN flagBombay Stock Exchange
4.60
INR
-0.19
- -
3.73BMarket Cap
Shah Metacorp Limited
SHAH.BO
(Bombay Stock Exchange)

Recent

price

4.60

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
14.83
11.22
14.9
14.37
9.15
8.27
8.91
4.92
7.64
3.34
0.65
1.04
2.8
2.45
3.27
- -
2.65
Revenue per Share
0.33
0.13
0.08
0.03
0.01
-0.69
-0.31
-0.92
-1.05
-0.71
-3.86
-0.29
0.12
0.11
0.61
- -
0.17
Basic EPS, GAAP
-1.57
-0.19
0.15
0.74
-1.5
-0.48
0.07
0.96
0.41
0.2
-0.59
-1.11
-0.5
-0.83
-1.06
- -
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
2.72
1.96
2.05
2.07
2.08
1.38
0.96
0.27
-0.79
-1.49
-5.35
-5.64
-6.31
-1.76
-0.23
- -
1.13
Book Value per Share
6.77
4.7
4.78
4.75
4.75
4.17
3.86
2.97
1.95
1.24
-2.6
-1.63
1.24
1.46
3.07
- -
3
Tangible Book Value per Share
130
193
193
193
193
193
193
193
193
193
193
193
142
395
538
- -
785
Basic Weighted Avg Shares
1,928
2,162
2,873
2,771
1,764
1,593
1,717
948
1,472
644
125
200
399
967
1,762
2,080
2,080
Sales/Revenue/Turnover
5.82
5.58
3.94
2.58
5.49
-5.07
2.85
-8.91
-10.83
-28.63
-172.95
-49.61
-17.38
0.07
4.29
-1.16
-1.16
Operating Margin (%)
30
36
37
41
56
106
92
79
67
55
45
37
29
35
36
42
42
Depreciation Expense
43
25
16
6
1
-133
-60
-178
-203
-137
-744
-56
17
43
326
122
135
Net Income, GAAP
20.71
37.01
38.3
36.72
101.2
- -
- -
- -
- -
- -
- -
1,637.15
- -
3.21
7.79
20.42
20.39
Effective Tax Rate (%)
2.22
1.17
0.55
0.2
0.06
-8.36
-3.51
-18.79
-13.79
-21.24
-594.84
-28.16
4.15
4.41
18.5
5.85
6.51
Profit Margin (%)
353
322
360
250
370
181
334
104
-4
-90
-721
9
311
478
1,341
3,524
3,524
Working Capital
132
252
288
234
202
55
166
76
52
70
316
756
625
365
177
2,391
2,391
LT Debt
880
905
921
950
949
818
758
587
375
239
-501
-315
177
574
1,654
3,084
3,084
Total Equity
9.14
5.24
4.26
2.64
-0.07
- -
- -
- -
- -
- -
- -
- -
- -
0.26
9.36
-0.58
-0.58
Return on Invested Capital (%)
6.52
2.73
1.42
6.02
0.07
- -
- -
- -
- -
- -
- -
65.27
- -
-15.47
-236.11
8.42
9.24
Return on Capital (%)
14.58
6.91
4.08
1.39
0.25
-39.95
-26.69
-150.22
- -
- -
- -
- -
- -
- -
- -
- -
15.44
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
521
- -
- -
LT Borrowings
126
- -
2,391
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
891
- -
891
Market Capitalization
2,355
3,453
3,648

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
2,869
- -
3,704
Cash, Cash Equivalents & STI
472
- -
1,937
Accounts Receivable, Net
1,101
- -
1,184
Inventories
270
- -
277
Total Current Liabilities
1,022
- -
180
Payables & Accruals
- -
- -
- -
ST Debt
521
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-10.64%
61.2%
86.45%
Free Cash Flow
108.77%
93.27%
5.54%
Net Income, GAAP
110.33%
107.58%
-62.67%
Sales/Revenue/Turnover
28.35%
80.42%
18.07%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
162
213
129
463
967
2025
463
485
399
415
1,762
2026
289
668
500
623
2,080

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.02
0.02
- -
0.11
2025
0.56
0.05
0.06
0.07
0.61
2026
0.04
0.02
0.01
0.09
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Shah Metacorp Limited manufactures, exports and supplies stainless steel and mild steel long products from its facilities in Gujarat, India. Founded in 1999 and headquartered in Ahmedabad, the company produces stainless steel products including equal angle bars, bright bars, flat bars, black bars, hexagonal bars, round corner squares, channels, sections, pata-patti and ingots in grades ranging from 200 to 400 series; mild steel products such as angle bars and TMT bars; and trades in agricultural, agrochemical and other chemical products. It operates primarily in the metals and mining industry, serving domestic and international markets including Thailand, Philippines, Vietnam, Ireland, Turkey, Malaysia, Indonesia, Kenya, Jordan, Yemen, Syria, UAE, Bangladesh, Germany, Colombia, Canada and Egypt. In July 2025, Shah Metacorp completed major acquisitions through share swaps, gaining an 85.60% stake in General Capital and Holding Company Private Limited and an 80.00% stake in Metacorp Trading LLC, which became subsidiaries alongside Shah Agrocorp Private Limited and Western Urja Private Limited. The company raised equity capital by issuing 25.58 crore shares at Rs 4.71 per share, converting 3.55 crore warrants into equity shares and issuing 4.40 crore additional convertible warrants at the same price. Previously known as Gyscoal Alloys Limited, it rebranded to Shah Metacorp Limited in April 2023 to reflect its diversified operations.