KSLIndustrials

Kalyani Steels Limited

Iron & Steel Products · ISIN INE907A01026 · BSE 500235 · NSE EQ · FV ₹5
Last price
₹865
+3.11%today
What this company does

Kalyani Steels Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹494 cr of revenue in its latest quarter (Q2 FY27) and kept 16.2% of sales as profit.

“The Company manufactures products (steel and speciality steel) which are intermediate products (input materials) for customers who in turn finally produce finished products.”
“The Company is primarily engaged in the business of manufacture and sale of Iron and Steel Products.”
“The Company is an integrated manufacturer of diverse range of steel products with its manufacturing facility located at Hospet Works in Karnataka.”
Their stated vision

“To be the least cost preferred engineering steel long products manufacturer in the country.”

In the report:
64out of 100
Equitytale Health Score
Mixed

Healthier than 64% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 52–284 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
36

At close. Not part of the score.

Profitability & returns75

How much profit it earns on the money it employs

Balance sheet70

How much it owes, and whether earnings cover the interest

Cash quality58

Whether reported profit actually arrives as cash

Growth & consistency53

Whether sales and profit have grown, and how steadily

Valuation31

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 16% net margin
✓ Sales up 8% vs last year
✓ Profit up 28% vs last year
✓ Promoters hold 65%
✓ No promoter shares pledged
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in KSL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹865▲ +3.11%
latest close · 2026-11-04
1-year return
+121.5%
52-wk low ₹26352-wk high ₹1,033
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio11.8Low
LowAverageHigh
P/B ratio1.71Moderate
Below bookModerateHigh
EV / EBITDA7.9Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity14.5%Fair
WeakFairStrong ▸15%
Return on capital19.2%Strong
WeakFairStrong
Net margin16.2%Strong
ThinDecentStrong
EBITDA margin25.1%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.24Comfortable
LowModerateHigh ▸1
Interest cover55.4×Strong
RiskyOkayStrong ▸5×
Current ratio2.10Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹3,782 cr
Book value
₹505
EPS
₹18.30
latest quarter
Net debt
₹148 cr
owes more than its cash
Enterprise value
₹3,931 cr
EBITDA
₹497 cr
annualised
EBIT
₹441 cr
annualised
Operating margin
22.3%
Return on assets
10.2%
Earnings yield
8.46%
P/S
1.91
Sales / share
₹452.2
Tax rate
26.3%
Face value
₹5
Shares
4.4 cr
Working capital
₹902 cr
Current assets
₹1,723 cr
Current liabilities
₹821 cr
Delivery %
47.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹482 vs market price ₹865 — price is 80% above it
Safety cushion-79.6%(target ≥ +20%)
Models span ₹403–₹800, midpoint ₹482
Model ₹482
Price ₹865
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹494 cr
Other Income₹17 cr
Total Income₹511 cr
Cost of Materials₹262 cr
Purchases of Stock-in-Trade₹11.4 L
Inventory Change (±)₹-4 cr
Employee Benefit Expense₹23 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹14 cr
Other Expenses₹106 cr
Total Expenses₹403 cr
Profit before Tax₹108 cr
Tax Expense₹29 cr
Net Profit₹80 cr
Net margin on total income15.6%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹258 cr50.5%
Employee benefit expense₹23 cr4.6%
Finance costs₹2 cr0.4%
Depreciation & amortisation₹14 cr2.7%
Other expenses₹106 cr20.7%
Tax expense₹29 cr5.6%
Profit for the period₹80 cr15.6%
Total income ₹511 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue484 cr465 cr494 cr
Total income499 cr480 cr511 cr
Expenses401 cr389 cr403 cr
Profit before tax98 cr92 cr108 cr
Tax26 cr24 cr29 cr
Net profit (owners' share)72 cr68 cr80 cr
Net margin (owners' share, on revenue)14.8%14.7%16.2%
EPS (₹)16.4215.6318.30
YoY (latest quarter): total income +8.5% · net profit +27.7%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹3,123 cr
Shareholder equity
₹2,209 cr
parent shareholders
Total debt
₹530 cr
Cash
₹381 cr
Cash flow · H1 FY27
Operating
₹81 cr
Investing
₹-90 cr
Financing
₹6 cr
Peer comparison
Iron & Steel Products · by market value
CompanyPriceMarket capP/E
Welspun Corp Limited₹2,316₹61,083 cr30.6
APL Apollo Tubes Limited₹2,153₹59,783 cr39.5
Shyam Metalics and Energy Limited₹1,220₹33,885 cr16.6
Ratnamani Metals & Tubes Limited₹2,380₹16,682 cr50.8
Jindal Saw Limited₹247₹15,794 cr83.4
Usha Martin Limited₹461₹14,057 cr24.7
Gallantt Ispat Limited₹526₹12,693 cr52.4
Godawari Power And Ispat limited₹193₹11,889 cr13.4
Jayaswal Neco Industries Limited₹90₹8,704 cr9.5
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.16%
trailing 12 months
Dividend / share (TTM)
₹10
Last dividend
₹10
ex 31 Jul 2026
ActionDetailEx-date
Dividend₹10 / share31 Jul 2026
Dividend₹10 / share11 Aug 2025
Dividend₹10 / share14 Aug 2024
Dividend₹10 / share11 Aug 2023
Dividend₹10 / share22 Jul 2022
Dividend₹7.5 / share26 Aug 2021
Who owns it · 2026-09-30
No pledge
Promoter
64.7%
FII / Foreign
1.9%
DII / Domestic
10.7%
Retail / others
22.7%
Smart-money activity
Insider trades
BoughtSundaram Trading & Investment Private Limite · Promoter Group3.66 L · ₹10.9 cr15 Mar 18
BoughtSundaram Trading & Investment Private Limite · Promoter Group4.00 L · ₹11.7 cr13 Mar 18
BoughtSundaram Trading & Investment Private Limite · Promoter Group4.09 L · ₹11.8 cr12 Mar 18
Bulk / block deals
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE2.20 L @ ₹913.4517 Jun 25
SoldGRAVITON RESEARCH CAPITAL LLP · NSE2.20 L @ ₹914.8317 Jun 25
short— · NSE3627 Sep 24
Stake changes
SoldDSP Trustee Private Ltd on behalf of Schemes of DSP Mutual Fund→ 4.58% · 2.44 L17 Dec 24
BoughtQuant Mutual Fund→ 5.88% · 4.81 L2 Jul 24
BoughtQuant Mutual fund→ 5.88% · 4.81 L2 Jul 24
What shareholders were asked to approve
3 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 18 Oct 2026
See the official result
1
Appointment of Mr.Ajay Kirtane (DIN 02711040) as an Independent Director of the Company
Backed by 100% of shareholders other than promotersneeded 75%
60.98 L votes for, 7,429 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 11 named members
owning 64.7% between them · as of 2026-09-30
BF Investment Limited39.06%
Sundaram Trading And Investment Pvt Ltd17.79%
Ajinkya Investment And Trading Company7.47%
KSMS Technologies Solutions Private Limited0.16%
Sunita Babasaheb Kalyani0.13%
Amit Babasaheb Kalyani0.07%
Ajinkyatara Trading Company Limited0.01%
Sugandha J Hiremath0.01%
Business done with them
FY2026 · 6 of the group
The company paid ₹23 cr to companies in the promoter group last year — about 1.3% of its ₹1,846 cr revenue.
BF INVESTMENT LIMITED
Other payments to them · Refer Below
also owns 39.06% of the company
₹17 cr
company paid
AJINKYA INVESTMENT AND TRADING COMPANY
Other payments to them · Refer Below
also owns 7.47% of the company
₹3 cr
company paid
BABASAHEB NEELKANTH KALYANI
Other payments to them · Refer Below
₹1 cr
company paid
AMIT BABASAHEB KALYANI
Other payments to them · Refer Below
also owns 0.07% of the company
₹1 cr
company paid
SUNITA BABASAHEB KALYANI
Other payments to them · Refer Below
also owns 0.13% of the company
₹21 L
company paid
AJINKYATARA TRADING COMPANY LIMITED
Other payments to them · Refer Below
also owns 0.01% of the company
₹0.3 L
company paid

The company also transacted with 28 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.