RHETANIndustrials

Rhetan TMT Limited

Iron & Steel Products · ISIN INE0KKN01029 · BSE 543590 · NSE EQ · FV ₹1
Last price
₹13
-4.55%today
What this company does

Rhetan TMT Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹4 cr of revenue in its latest quarter (Q2 FY27) and kept 80.4% of sales as profit.

52out of 100
Equitytale Health Score
Mixed

Healthier than 52% of companies in Industrials, on the 5 of 6 measures we could read for it. Each measure is ranked against the 227–284 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)
39

At close. Not part of the score.

Profitability & returns58

How much profit it earns on the money it employs

Balance sheet66

How much it owes, and whether earnings cover the interest

Cash quality36

Whether reported profit actually arrives as cash

Valuation8

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

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 80% net margin
✓ Promoters hold 62%
✓ No promoter shares pledged
Watch-outs
! Sales down 24% vs last year
! Operating cash flow is negative

What if I invest in RHETAN?

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 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — 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 We do not publish price targets or predict returns.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
₹13▼ -4.55%
latest close · 2026-11-04
52-wk low ₹1374 sessions so far52-wk high ₹35
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 ratio83.9High
LowAverageHigh
P/B ratio9.33High
Below bookModerateHigh
EV / EBITDA78.6High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.2%Fair
WeakFairStrong ▸15%
Return on capital10.3%Fair
WeakFairStrong
Net margin80.4%Strong
ThinDecentStrong
EBITDA margin96.3%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.26Comfortable
LowModerateHigh ▸1
Interest cover9.5×Strong
RiskyOkayStrong ▸5×
Current ratio3.64Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹1,070 cr
Book value
₹1
EPS
₹0.04
latest quarter
Net debt
₹29 cr
owes more than its cash
Enterprise value
₹1,100 cr
EBITDA
₹14 cr
annualised
EBIT
₹13 cr
annualised
Operating margin
92.1%
Return on assets
7.3%
Earnings yield
1.19%
P/S
73.67
Sales / share
₹0.2
Tax rate
2.5%
Face value
₹1
Shares
79.7 cr
Working capital
₹81 cr
Current assets
₹112 cr
Current liabilities
₹31 cr
Delivery %
56.2%
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 exchange filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹1–₹1, midpoint ₹1

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₹4 cr
Other Income₹4 cr
Total Income₹8 cr
Cost of Materials₹4 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-5.3 L
Employee Benefit Expense₹32.7 L
Finance Costs₹35.2 L
Depreciation & Amortisation₹15.1 L
Other Expenses₹68.6 L
Total Expenses₹5 cr
Profit before Tax₹3 cr
Tax Expense₹7.5 L
Net Profit₹3 cr
Net margin on total income36.0%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹4 cr44.3%
Employee benefit expense₹32.7 L4.0%
Finance costs₹35.2 L4.3%
Depreciation & amortisation₹15.1 L1.9%
Other expenses₹68.6 L8.5%
Tax expense₹7.5 L0.9%
Profit for the period₹3 cr36.0%
Total income ₹8 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue8 cr4 cr4 cr
Total income11 cr9 cr8 cr
Expenses6 cr5 cr5 cr
Profit before tax4 cr3 cr3 cr
Tax2 cr14.9 L7.5 L
Net profit (owners' share)2 cr3 cr3 cr
Net margin (owners' share, on revenue)26.1%77.7%80.4%
EPS (₹)0.080.040.04
YoY (latest quarter): total income +12.4% · net profit +1.6%
Balance sheet & cash flow · as of Sep 2026
Low debt
Total assets
₹161 cr
Shareholder equity
₹115 cr
parent shareholders
Total debt
₹30 cr
Cash
₹30.3 L
Cash flow · H1 FY27
Operating
₹-8 L
Investing
₹-8 cr
Financing
₹8 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
ActionDetailEx-date
Stock splitStock Split From Rs.10/- to Rs.1/-10 Mar 2023
Bonus issue4:1110 Mar 2023
Who owns it · 2026-09-30
No pledge
Promoter
62.1%
FII / Foreign
0.3%
DII / Domestic
—
Retail / others
37.5%
Smart-money activity
Bulk / block deals
SoldQE SECURITIES LLP · NSE42.83 L @ ₹14.7827 Oct 26
BoughtQE SECURITIES LLP · NSE42.62 L @ ₹14.8427 Oct 26
SoldJAGID VANITABEN RAJENDRAPRASAD · NSE64.82 L @ ₹14.8227 Oct 26
Stake changes
SoldClear Water Commodities Private Limited→ 1.94% · 16.50 L28 Mar 26
SoldClear Water Commodities Private Limited→ 2.15% · 34.90 L25 Mar 26
SoldClear Water Commodities Private Limited→ 2.59% · 9.19 L20 Mar 26
What shareholders were asked to approve

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.

Yearly shareholder meeting · 16 Sep 2026
See the official result
1
To receive, consider and adopt the Financial Statements of the Company for the year ended 31st March, 2026 including Audited Balance Sheet as at 31st March, 2026 and Statement of Profit and Loss and the Cash Flow Statement for the year ended on that date and the Reports of the Board of Directors and the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
4.49 cr votes for, 1 against · 0% of mutual funds and other big investors said no
2
Re-appointment of Mr. Ashok C. Shah (DIN: 02467830), Non-Executive Director of the Company, who is liable to retire by rotation and being eligible, offers himself for re-appointment.
Backed by 100% of shareholders other than promotersneeded 50%
4.49 cr votes for, 2 against · 0% of mutual funds and other big investors said no
3
Re-Appointment of Statutory Auditors and fixations of its Remuneration.
Backed by 100% of shareholders other than promotersneeded 50%
4.49 cr votes for, 2 against · 0% of mutual funds and other big investors said no
4
Re-appointment of Mr. Shalin Ashok Shah (DIN:00297447) as Managing Director of the Company
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
4.49 cr votes for, 2 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 — 7 named members
owning 62.1% between them · as of 2026-09-30
ASHOKA METCAST LIMITED55.52%
SHALIN ASHOK SHAH5.65%
ASHOK CHINUBHAI SHAH0.94%
LEENA ASHOK SHAHno shares
LESHA VENTURES PRIVATE LIMITEDno shares
PAYAL SHALIN SHAHno shares
SHALIN A SHAHno shares

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.