Shah Alloys quarterly results and financials

Shah Alloys (SHAHALLOYS)₹71.58+2.93%(9 Nov 2026 close)Iron & Steel Products

Key facts

In the Mar 2026 quarter (consolidated), Shah Alloys reported sales of ₹2.26 Cr, down 92.6% from Mar 2025, and net profit of −₹8.40 Cr. For the year to Mar 2026, sales were ₹39.14 Cr and net profit ₹108 Cr.

Sales (Mar 2026): ₹2.26 Cr
Net profit (Mar 2026): −₹8.40 Cr
Sales (FY Mar 2026): ₹39.14 Cr
Net profit (FY Mar 2026): ₹108 Cr
EPS (Mar 2026): ₹−4.26
Borrowings (Mar 2026): ₹63.13 Cr

Company filings, consolidated accounts; latest reported quarter Mar 2026

Shah Alloys quarterly results

₹ crore unless stated; each column is a quarter.

Shah Alloys Quarterly results
	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	160	181	145	129	119	66.54	52.15	30.50	23.73	2.97	10.62	2.26
Expenses	156	177	152	126	125	71.70	51.29	30.25	24.12	3.85	3.02	1.41
Operating Profit	4.05	3.69	−6.97	2.64	−5.52	−5.08	0.90	0.22	−0.42	−0.88	7.56	0.86
OPM %	2.5%	2.1%	−4.8%	2.1%	−4.6%	−7.7%	1.7%	0.8%	−1.7%	−29.4%	71.6%	37.8%
Other Income	0.00	0.00	−15.55	6.07	0.00	0.04	0.00	0.00	0.00	16.86	54.20	−5.37
Interest	1.06	1.07	1.05	0.88	1.12	1.12	1.15	1.13	1.06	1.09	1.05	0.45
Depreciation	2.22	2.22	2.22	2.22	2.29	2.28	2.29	2.31	1.63	1.63	1.68	1.58
Profit before tax	0.75	0.38	−25.81	5.65	−8.93	−8.43	−2.54	−3.18	−3.09	13.31	59.10	−6.56
Tax %	18.4%	12.8%	−10.2%	39.2%	−24.6%	−24.0%	−24.7%	−26.0%	−25.1%	6.9%	39.0%	24.3%
Exceptional items	0.00	0.00	−15.64	3.88	0.00	0.00	0.00	0.00	0.00	16.06	33.27	−4.09
Net Profit	0.69	0.36	−24.10	4.42	−6.70	−6.39	−2.17	−4.50	−5.75	13.74	38.50	−8.40
EPS (Rs)	0.36	0.19	−12.20	2.24	−3.39	−3.23	−1.10	−2.28	−2.92	6.96	19.45	−4.26

Shah Alloys profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Shah Alloys Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	261	300	481	572	491	504	884	628	594	268	39.14	39.58
Expenses	527	307	489	571	547	488	765	624	612	280	32.10	32.40
Operating Profit	−265	−7.01	−6.99	1.01	−55.99	15.99	117	4.01	−16.99	−12.99	7.01	7.12
OPM %	−102.0%	−2.4%	−1.5%	0.1%	−11.0%	3.2%	13.0%	0.7%	−3.0%	−4.7%	18.0%	18.0%
Other Income	494	81.70	142	6.97	92.62	40.83	5.98	2.99	11.96	0.99	135	65.69
Interest	23.07	14.04	0.00	0.00	0.00	2.01	2.01	3.01	4.01	4.01	4.01	3.65
Depreciation	17.99	14.01	13.99	12.99	13.01	12.99	11.01	8.99	9.01	9.01	6.99	6.52
Profit before tax	189	46.98	121	−5.99	23.99	41.97	109	−4.99	−18.99	−24.95	133	62.76
Tax %	34.0%	22.0%	70.0%	−232.0%	120.0%	231.0%	25.0%	−29.0%	−1.0%	−22.0%	19.0%	—
Exceptional items	183	71.26	56.19	−7.03	64.16	−21.06	0.00	0.00	−10.04	0.00	111	45.24
Net Profit	121	35.98	35.99	7.99	−4.99	−55.98	82.08	−3.01	−19.01	−20.01	108	38.09
EPS (Rs)	61.17	18.45	18.02	3.81	−2.36	−28.21	41.56	−1.63	−9.43	−9.99	54.54	19.23
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—

Shah Alloys balance sheet

₹ crore, at each year end.

Shah Alloys Balance sheet
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	19.91	19.92	19.94	19.92	19.91	19.92	19.93	19.91	19.93	19.92	19.91	19.93
Reserves	−738	−401	−296	−194	−187	−38.16	−74.28	13.04	11.04	−9.03	−27.11	93.30
Borrowings	654	420	339	263	238	209	168	117	74.08	80.13	79.17	63.13
Other Liabilities	804	589	568	369	450	242	192	173	198	166	123	31.85
Total Liabilities	740	628	629	458	521	432	306	323	302	257	195	208
Fixed Assets	175	157	143	131	119	106	93.11	82.06	73.01	67.06	57.05	50.03
CWIP	13.03	9.02	9.02	9.02	9.01	9.01	9.02	9.02	9.02	9.01	9.01	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.99	6.99	6.98	4.99	48.88
Other Assets	553	462	477	318	393	317	203	226	213	174	124	108
Inventories	82.32	82.25	117	84.27	125	85.35	71.22	118	109	82.25	30.08	19.06
Trade receivables	15.04	10.03	7.03	4.02	29.09	24.09	14.04	14.05	15.06	7.02	1.01	1.01
Cash & equivalents	1.01	3.01	2.01	1.01	0.00	0.00	2.01	0.00	0.00	0.00	3.01	1.01
Total Assets	740	628	629	458	521	432	306	323	302	257	195	208

Shah Alloys cash flow

₹ crore, for each year.

Shah Alloys Cash flow
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	48.85	77.76	124	13.97	121	56.84	67.80	42.88	−6.98	−4.99	−70.78
Cash from investing activity	6.02	0.00	−1.01	−1.01	0.00	0.00	0.00	0.00	4.01	1.01	89.24
Cash from financing activity	−53.23	−80.27	−125	−13.05	−122	−56.25	−70.29	−44.16	3.01	6.03	−20.09
Net cash flow	1.99	−0.99	−0.99	−0.99	0.00	0.99	−0.99	0.00	0.00	1.99	−1.99
Capex	0.00	0.00	0.99	1.99	0.00	0.00	0.00	0.00	5.01	0.00	0.99
Free cash flow	49.14	78.25	123	13.03	121	57.18	68.22	43.13	−3.01	−4.01	8.03
CFO / OP %	−18.0%	−1,098.9%	−1,758.0%	1,619.1%	−217.0%	351.0%	58.0%	1,067.1%	37.0%	36.1%	−993.9%

Shah Alloys ratios

Working-capital days and returns, by year.

Shah Alloys Ratios
	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	21	14	9	3	18	18	10	6	9	4	2	10
Inventory days	161	159	242	90	115	88	76	75	91	71	58	382
Days payable	116	139	163	52	104	147	137	72	102	95	142	24
Cash conversion cycle	64	32	85	39	27	−43	−53	7	−4	−22	−85	366
Working capital days	−1,475	−924	−641	−209	−223	−112	−125	−46	−69	−91	−224	−428
ROCE %	—	—	−39.0%	−25.9%	2.0%	−50.9%	18.1%	85.1%	−2.0%	−5.0%	−25.9%	0.0%

Shah Alloys: frequently asked questions

What are the latest quarterly results of Shah Alloys?

For the Mar 2026 quarter, Shah Alloys reported sales of ₹2.26 Cr, down 92.6% year on year and net profit of −₹8.40 Cr. The operating margin was 37.8%.

What is the annual revenue of Shah Alloys?

Shah Alloys' sales for the year to Mar 2026 were ₹39.14 Cr; over the last twelve months they were ₹39.58 Cr.

What is the net profit of Shah Alloys?

Net profit for the year to Mar 2026 was ₹108 Cr, and ₹38.09 Cr over the last twelve months. Earnings per share over the same trailing period were ₹19.23.

How much debt does Shah Alloys have?

Shah Alloys reported borrowings of ₹63.13 Cr at Mar 2026, against cash and equivalents of ₹1.01 Cr.

What is the free cash flow of Shah Alloys?

Cash from operations was −₹70.78 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹8.03 Cr.

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