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Kalyani Steels (KSL)₹852.05−1.38%Iron & Steel Products
In the Sep 2026 quarter (consolidated), Kalyani Steels reported sales of ₹493 Cr, up 8.5% from Sep 2025, and net profit of ₹79.93 Cr, up 27.1% year on year. For the year to Mar 2026, sales were ₹1,838 Cr and net profit ₹258 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 460 | 490 | 482 | 542 | 441 | 454 | 460 | 482 | 464 | 493 |
| Expenses | 382 | 396 | 400 | 430 | 357 | 370 | 370 | 385 | 373 | 387 |
| Operating Profit | 78.92 | 95.78 | 82.80 | 114 | 84.86 | 84.79 | 91.89 | 98.84 | 90.86 | 107 |
| OPM % | 16.9% | 19.9% | 16.9% | 20.9% | 19.0% | 18.9% | 19.9% | 19.9% | 19.9% | 21.9% |
| Other Income | 13.02 | 15.01 | 13.02 | 14.02 | 15.02 | 15.03 | 8.01 | 14.02 | 16.03 | 17.02 |
| Interest | 3.99 | 4.99 | 5.99 | 3.99 | 2.99 | 1.99 | 1.99 | 0.99 | 1.99 | 1.99 |
| Depreciation | 15.95 | 15.94 | 15.94 | 15.95 | 14.95 | 14.95 | 13.96 | 13.96 | 13.95 | 13.94 |
| Profit before tax | 71.99 | 89.90 | 75.95 | 108 | 82.91 | 83.97 | 82.99 | 97.95 | 92.01 | 108 |
| Tax % | 28.0% | 25.0% | 25.0% | 26.0% | 26.0% | 25.0% | 26.0% | 26.0% | 26.0% | 26.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −4.99 | −1.01 | 0.00 | 0.00 |
| Net Profit | 51.99 | 66.99 | 55.91 | 79.88 | 61.99 | 62.91 | 61.96 | 71.89 | 67.99 | 79.93 |
| EPS (Rs) | 11.92 | 15.39 | 12.88 | 18.32 | 14.08 | 14.28 | 14.15 | 16.38 | 15.59 | 18.26 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,176 | 1,253 | 1,341 | 1,401 | 1,195 | 1,184 | 1,700 | 1,953 | 1,976 | 1,838 | 1,898 |
| Expenses | 1,002 | 968 | 1,140 | 1,192 | 1,003 | 924 | 1,366 | 1,585 | 1,607 | 1,482 | 1,514 |
| Operating Profit | 177 | 287 | 204 | 212 | 194 | 262 | 337 | 370 | 372 | 360 | 388 |
| OPM % | 14.9% | 22.9% | 14.9% | 14.9% | 15.9% | 21.9% | 19.9% | 18.9% | 18.9% | 19.9% | 20.5% |
| Other Income | 61.04 | 14.02 | 17.03 | 25.02 | 23.02 | 43.04 | 52.06 | 49.11 | 55.09 | 52.08 | 55.08 |
| Interest | 11.98 | 9.99 | 8.98 | 6.99 | 9.99 | 6.98 | 12.98 | 25.96 | 18.99 | 8.98 | 6.96 |
| Depreciation | 51.85 | 51.86 | 36.86 | 37.90 | 42.86 | 43.86 | 45.86 | 60.82 | 62.82 | 56.82 | 55.81 |
| Profit before tax | 174 | 239 | 175 | 192 | 165 | 255 | 331 | 333 | 346 | 348 | 381 |
| Tax % | 35.0% | 35.0% | 34.0% | 32.0% | 19.0% | 25.0% | 25.0% | 25.0% | 26.0% | 26.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 8.01 | 2.01 | 1.99 | 0.00 | 1.99 | 0.00 | −6.01 | −6.00 |
| Net Profit | 113 | 156 | 115 | 131 | 134 | 190 | 248 | 249 | 256 | 258 | 282 |
| EPS (Rs) | 25.93 | 35.71 | 26.39 | 30.07 | 31.21 | 43.45 | 55.74 | 56.84 | 58.53 | 58.92 | 64.38 |
| Dividend payout % | 0.0% | 0.0% | 18.9% | 16.9% | 16.0% | 17.0% | 17.9% | 17.9% | 17.0% | 16.9% | — |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22.01 | 22.01 | 22.01 | 22.02 | 22.03 | 22.02 | 21.99 | 22.02 | 22.01 | 22.01 |
| Reserves | 568 | 680 | 764 | 870 | 943 | 1,133 | 1,349 | 1,662 | 1,873 | 2,087 |
| Borrowings | 328 | 246 | 177 | 25.06 | 5.01 | 174 | 341 | 598 | 440 | 476 |
| Other Liabilities | 340 | 416 | 320 | 415 | 398 | 326 | 551 | 297 | 404 | 414 |
| Total Liabilities | 1,258 | 1,364 | 1,282 | 1,333 | 1,366 | 1,654 | 2,261 | 2,578 | 2,737 | 3,000 |
| Fixed Assets | 547 | 437 | 438 | 424 | 419 | 383 | 359 | 736 | 680 | 629 |
| CWIP | 2.99 | 6.98 | 6.98 | 6.98 | 4.99 | 10.97 | 154 | 380 | 428 | 559 |
| Investments | 181 | 226 | 271 | 358 | 177 | 144 | 147 | 40.92 | 2.99 | 10.98 |
| Other Assets | 528 | 694 | 564 | 544 | 765 | 1,116 | 1,601 | 1,422 | 1,627 | 1,801 |
| Inventories | 109 | 135 | 112 | 154 | 125 | 119 | 217 | 286 | 298 | 284 |
| Trade receivables | 347 | 466 | 377 | 309 | 236 | 249 | 318 | 422 | 432 | 497 |
| Cash & equivalents | 9.03 | 24.09 | 34.13 | 39.16 | 362 | 628 | 978 | 552 | 750 | 827 |
| Total Assets | 1,258 | 1,364 | 1,282 | 1,333 | 1,366 | 1,654 | 2,261 | 2,578 | 2,737 | 3,000 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 159 | 151 | 190 | 285 | 256 | 61.73 | 360 | 322 | 380 | 140 |
| Cash from investing activity | −255 | −37.97 | −76.96 | −116 | −183 | −226 | −474 | −304 | −135 | −105 |
| Cash from financing activity | 97.04 | −98.17 | −105 | −181 | −80.13 | 160 | 123 | −10.02 | −252 | −42.06 |
| Net cash flow | 2.01 | 16.01 | 10.02 | −12.01 | −6.01 | −3.01 | 11.01 | 9.01 | −5.01 | −6.01 |
| Capex | 97.77 | 13.97 | 32.95 | 21.96 | 33.94 | 15.98 | 175 | 575 | 24.94 | 60.87 |
| Free cash flow | 75.93 | 139 | 158 | 264 | 223 | 45.90 | 187 | −253 | 356 | 79.80 |
| CFO / OP % | 120.0% | 84.0% | 124.0% | 163.0% | 159.0% | 48.0% | 133.0% | 108.0% | 125.0% | 63.0% |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 108 | 136 | 103 | 81 | 73 | 78 | 69 | 79 | 80 | 99 |
| Inventory days | 89 | 80 | 52 | 70 | 73 | 70 | 81 | 92 | 94 | 101 |
| Days payable | 119 | 146 | 87 | 152 | 183 | 139 | 171 | 66 | 95 | 95 |
| Cash conversion cycle | 77 | 69 | 67 | −1 | −39 | 7 | −22 | 105 | 78 | 104 |
| Working capital days | 30 | 27 | 24 | 26 | 11 | −11 | −18 | 4 | 1 | 17 |
| ROCE % | — | 27.1% | 19.1% | 20.1% | 18.1% | 23.1% | 23.1% | — | 16.1% | 15.1% |
For the Sep 2026 quarter, Kalyani Steels reported sales of ₹493 Cr, up 8.5% year on year and net profit of ₹79.93 Cr, up 27.1% year on year. The operating margin was 21.9%.
Kalyani Steels' sales for the year to Mar 2026 were ₹1,838 Cr; over the last twelve months they were ₹1,898 Cr.
Net profit for the year to Mar 2026 was ₹258 Cr, and ₹282 Cr over the last twelve months. Earnings per share over the same trailing period were ₹64.38.
Kalyani Steels reported borrowings of ₹476 Cr at Mar 2026, against cash and equivalents of ₹827 Cr.
Cash from operations was ₹140 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹79.80 Cr.