SHAHIndustrials

Shah Metacorp Limited

Iron & Steel Products · ISIN INE482J01021 · BSE 533275 · NSE EQ · FV ₹1
Last price
₹3
+8.30%today
What this company does

Shah Metacorp Limited operates in Iron & Steel Products, part of the Industrials sector. It booked ₹57 cr of revenue in its latest quarter (Q1 FY27) and kept 6.1% of sales as profit.

Their stated vision

“is to be a dominant global steel industry player by expanding capacity, enhancing product range, and delivering value-added steel solutions to our customers.”

Their stated mission

“is to deliver superior quality steel products that cater to the evolving needs of our customers while upholding the highest standards of integrity and sustainability.”

In the report:
51out of 100
Equitytale Health Score
Mixed

Healthier than 51% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 125–284 companies that reported it.

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

Price momentum
oversold
RSI (14)
28

At close. Not part of the score.

Profitability & returns30

How much profit it earns on the money it employs

Balance sheet52

How much it owes, and whether earnings cover the interest

Cash quality4

Whether reported profit actually arrives as cash

Growth & consistency89

Whether sales and profit have grown, and how steadily

Valuation72

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

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 98% vs last year
✓ Profit up 40% vs last year
✓ No promoter shares pledged
Watch-outs
! Thin 6.1% net margin
! Low 4.6% return on equity
! Operating cash flow is negative

What if I invest in SHAH?

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 We do not publish price targets or predict returns.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
₹3▲ +8.30%
latest close · 2026-11-04
1-year return
+14.2%
52-wk low ₹252-wk high ₹8
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 ratio17.1Average
LowAverageHigh
P/B ratio0.88Below book
Below bookModerateHigh
EV / EBITDA21.3High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity4.6%Weak
WeakFairStrong ▸15%
Return on capital3.6%Weak
WeakFairStrong
Net margin6.1%Decent
ThinDecentStrong
EBITDA margin10.4%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.78Moderate
LowModerateHigh ▸1
Interest cover18.3×Strong
RiskyOkayStrong ▸5×
Current ratio20.58Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹269 cr
Book value
₹3
EPS
₹0.04
latest quarter
Net debt
₹237 cr
owes more than its cash
Enterprise value
₹506 cr
EBITDA
₹24 cr
annualised
EBIT
₹20 cr
annualised
Operating margin
8.7%
Return on assets
2.5%
Earnings yield
5.84%
P/S
1.18
Sales / share
₹2.3
Tax rate
25.3%
Face value
₹1
Shares
98.2 cr
Working capital
₹352 cr
Current assets
₹370 cr
Current liabilities
₹18 cr
Delivery %
70.4%
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
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹0–₹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 · Q1 FY27 (consolidated)
Revenue from Operations₹57 cr
Other Income₹1 cr
Total Income₹58 cr
Cost of Materials₹43 cr
Purchases of Stock-in-Trade₹2 cr
Inventory Change (±)₹4 cr
Employee Benefit Expense₹1 cr
Finance Costs₹27.1 L
Depreciation & Amortisation₹97.1 L
Other Expenses₹3 cr
Total Expenses₹54 cr
Profit before Tax₹5 cr
Tax Expense₹1 cr
Share of JV / Associates₹2.1 L
Net Profit₹4 cr
Net margin on total income6.0%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹49 cr83.3%
Employee benefit expense₹1 cr2.2%
Finance costs₹27.1 L0.5%
Depreciation & amortisation₹97.1 L1.7%
Other expenses₹3 cr4.3%
Tax expense₹1 cr2.0%
Profit for the period₹4 cr6.0%
Total income ₹58 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue50 cr62 cr57 cr
Total income52 cr79 cr58 cr
Expenses51 cr69 cr54 cr
Profit before tax93.1 L10 cr5 cr
Tax21.5 L2 cr1 cr
Net profit (owners' share)68.8 L8 cr3 cr
Net margin (owners' share, on revenue)1.4%13.3%6.1%
EPS (₹)0.010.090.04
YoY (latest quarter): total income +97.2% · net profit +39.5%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹566 cr
Shareholder equity
₹305 cr
parent shareholders
Total debt
₹239 cr
Cash
₹2 cr
Cash flow · H1 FY25
Operating
₹-72 cr
Investing
₹-3 cr
Financing
₹75 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
Rights issue311:3627 May 2026
Rights issue100:11023 Dec 2022
Stock split Face Value Split From Rs 10 To Re 113 Oct 2016
Who owns it · 2026-09-30
No pledge
Promoter
32.5%
FII / Foreign
0.5%
DII / Domestic
0.0%
Retail / others
67.0%
Promoter stake up 1.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtMONA VIRAL SHAH · Promoter and Director65.00 L · ₹3.1 cr16 Sep 26
BoughtMONA VIRAL SHAH · Promoter and Director65.00 L · ₹3.1 cr16 Sep 26
BoughtMONA VIRAL SHAH · Promoter and Director65.00 L · ₹3.1 cr16 Sep 26
Bulk / block deals
BoughtDHANJIT REAL TRADE LLP · NSE83.81 L @ ₹3.6227 Aug 26
SoldDHANJIT REAL TRADE LLP · NSE73.81 L @ ₹3.5127 Aug 26
SoldSHAH MALAVKUMAR KALPESH · NSE50.00 L @ ₹2.5626 Aug 26
Stake changes
BoughtMona Viral Shah · promoter→ 17.23% · 2.75 cr10 Sep 26
BoughtMona Viral Shah · promoter→ 14.94% · 1.00 cr16 Jul 26
BoughtMona V Shah · promoter→ 14.07% · 3.16 cr30 Jun 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 · 30 Sep 2026
See the official result
1
To receive, consider and adopt: a. the Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2026, the reports of the Board of Directors and Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2026, the Report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
40.11 cr votes for, 1.85 L against
2
To appoint Ms. Mona Viral Shah (DIN: 02343194), who retires by rotation as a director and being eligible, offers herself for reappointment.
Backed by 100% of shareholders other than promotersneeded 50%
40.11 cr votes for, 1.97 L against
3
To consider appointment of M/s. Shivam Soni & Co., Chartered Accountants (FRN:152477W/ 178351), as Statutory Auditors of the Company.
Backed by 100% of shareholders other than promotersneeded 50%
40.11 cr votes for, 1.85 L against
4
To ratify the remuneration of Cost Auditors of the Company for the financial year ending on 31st March, 2027.
Backed by 100% of shareholders other than promotersneeded 50%
40.11 cr votes for, 1.85 L against

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 — 6 named members
owning 32.5% between them · as of 2026-09-30
Mona Viral Shah17.76%
Sampati Securities Limited8.04%
Viral Mukundbhai Shah6.66%
Dipali Manish Shah0.03%
Viral M Shah Huf0.02%
General Capital Holding Company Private Limitedno shares
Business done with them
FY2025 · 1 of the group
The company paid ₹56 cr to companies in the promoter group last year — about 32.0% of its ₹176 cr revenue and received ₹40 cr back from them.
Sampati Securities Limited
Contribution made to them · having significant influence of KMP
also owns 8.04% of the company
₹56 cr
company paid
Sampati Securities Limited
Contribution received from them · having significant influence of KMP
also owns 8.04% of the company
₹40 cr
company received
Sampati Securities Limited
Other income from them · having significant influence of KMP
also owns 8.04% of the company
₹4.3 L
company received

The company also transacted with 4 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.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹47 cr raised in Jun 2026 by offering new shares to existing shareholders

As of Jun 2026, the company says it has spent 0% of what it set aside, leaving ₹47 cr still to be spent. INFOMERICS VALUATION AND RATING LIMITED watches the spending on the exchange’s behalf.

Providing Inter-Corporate Loans to our Subsidiaries, Western Urja Private Limited and Metcorp Trading LLC, for meeting their business expansion
0%
₹0 cr of ₹3 cr
Equity Investment and Provision of Working Capital Loan to Shah Metacorp Holdings USA INC for International Expansion.
0%
₹0 cr of ₹3 cr
Adjustment of Unsecured Loans of the Ms. Mona Shah, Director and Promoter of our Company through conversion of the outstanding Loan to Equity against their Rights Entitlement.
0%
₹0 cr of ₹15 cr
Augmenting the working capital base of our Company to meet its incremental working capital requirements.
0%
₹0 cr of ₹16 cr
General Corporate Purposes
0%
₹0 cr of ₹9 cr
Rights Issue Related expenses
0%
₹0 cr of ₹27.2 L
₹3 cr raised in Jul 2025 by selling shares to selected investors

As of Sep 2025, the company says it has spent 100% of what it set aside.

a)repayment of borrowings of the Company and meet statutory dues b) General Corporate Purposes c) Working Capital
100%
₹3 cr of ₹3 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

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