Reported Earnings • Jun 03
Full year 2026 earnings released: ₹4.00 loss per share (vs ₹0.44 profit in FY 2025) Full year 2026 results: ₹4.00 loss per share (down from ₹0.44 profit in FY 2025). Revenue: ₹623.2m (down 14% from FY 2025). Net loss: ₹49.0m (down ₹54.3m from profit in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Earnings have declined by 58% per year over the past 5 years. Market cap is less than US$10m (₹212.4m market cap, or US$2.23m). Minor Risk Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Board Change • May 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 3 highly experienced directors. 2 independent directors (4 non-independent directors). Independent Chairman of the Board Surendra Jain was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 25
Earthstahl & Alloys Limited to Report Second Half, 2026 Results on May 30, 2026 Earthstahl & Alloys Limited announced that they will report second half, 2026 results on May 30, 2026 New Risk • Nov 27
New major risk - Revenue and earnings growth Earnings have declined by 58% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 58% per year over the past 5 years. Market cap is less than US$10m (₹257.7m market cap, or US$2.89m). Announcement • Nov 08
Earthstahl & Alloys Limited to Report Q2, 2026 Results on Nov 14, 2025 Earthstahl & Alloys Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 37% After last week's 37% share price gain to ₹29.75, the stock trades at a trailing P/E ratio of 68.2x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total loss to shareholders of 25% over the past year. Reported Earnings • Sep 08
Full year 2025 earnings released: EPS: ₹0.44 (vs ₹1.55 in FY 2024) Full year 2025 results: EPS: ₹0.44 (down from ₹1.55 in FY 2024). Revenue: ₹722.8m (down 18% from FY 2024). Net income: ₹5.34m (down 72% from FY 2024). Profit margin: 0.7% (down from 2.2% in FY 2024). The decrease in margin was driven by lower revenue. Announcement • Sep 05
Earthstahl & Alloys Limited, Annual General Meeting, Sep 30, 2025 Earthstahl & Alloys Limited, Annual General Meeting, Sep 30, 2025, at 12:30 Indian Standard Time. New Risk • Jun 06
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.2x net interest cover). Share price has been highly volatile over the past 3 months (14% average weekly change). Market cap is less than US$10m (₹353.7m market cap, or US$4.12m). Minor Risk Profit margins are more than 30% lower than last year (0.7% net profit margin). New Risk • Jun 02
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Market cap is less than US$10m (₹368.4m market cap, or US$4.31m). Minor Risks High level of debt (46% net debt to equity). Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Profit margins are more than 30% lower than last year (1.9% net profit margin). Valuation Update With 7 Day Price Move • May 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹31.00, the stock trades at a trailing P/E ratio of 25.1x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total loss to shareholders of 37% over the past year. Announcement • May 26
Earthstahl & Alloys Limited to Report Fiscal Year 2025 Results on May 29, 2025 Earthstahl & Alloys Limited announced that they will report fiscal year 2025 results on May 29, 2025 Board Change • May 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Chairman of the Board Surendra Jain was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Chairman of the Board Surendra Jain was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹32.75, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total loss to shareholders of 33% over the past year. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹35.73, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 20x in the Metals and Mining industry in India. Total loss to shareholders of 20% over the past year. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹33.10, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total loss to shareholders of 48% over the past year. New Risk • Dec 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$10m (₹527.5m market cap, or US$6.19m). Minor Risks High level of debt (46% net debt to equity). Profit margins are more than 30% lower than last year (1.9% net profit margin). New Risk • Nov 18
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 46% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹547.5m market cap, or US$6.49m). Minor Risks High level of debt (46% net debt to equity). Share price has been volatile over the past 3 months (7.7% average weekly change). Profit margins are more than 30% lower than last year (1.9% net profit margin). Announcement • Nov 11
Earthstahl & Alloys Limited to Report First Half, 2025 Results on Nov 13, 2024 Earthstahl & Alloys Limited announced that they will report first half, 2025 results on Nov 13, 2024 New Risk • Nov 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹547.5m market cap, or US$6.49m). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Profit margins are more than 30% lower than last year (2.2% net profit margin). Announcement • Sep 13
Earthstahl & Alloys Limited, Annual General Meeting, Sep 30, 2024 Earthstahl & Alloys Limited, Annual General Meeting, Sep 30, 2024, at 11:30 Indian Standard Time. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹1.55 (vs ₹7.94 in FY 2023) Full year 2024 results: EPS: ₹1.55 (down from ₹7.94 in FY 2023). Revenue: ₹889.3m (down 3.1% from FY 2023). Net income: ₹18.9m (down 75% from FY 2023). Profit margin: 2.1% (down from 8.2% in FY 2023). The decrease in margin was primarily driven by higher expenses. New Risk • May 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Market cap is less than US$10m (₹624.0m market cap, or US$7.51m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (3.1% net profit margin). Announcement • May 26
Earthstahl & Alloys Limited to Report Second Half, 2024 Results on May 30, 2024 Earthstahl & Alloys Limited announced that they will report second half, 2024 results on May 30, 2024 Valuation Update With 7 Day Price Move • May 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹53.97, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total loss to shareholders of 9.2% over the past year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹48.25, the stock trades at a trailing P/E ratio of 21x. Average trailing P/E is 23x in the Metals and Mining industry in India. Negligible returns to shareholders over past year. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹41.73, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total loss to shareholders of 5.8% over the past year. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹63.40, the stock trades at a trailing P/E ratio of 27.7x. Average trailing P/E is 24x in the Metals and Mining industry in India. New Risk • Jan 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹730.9m market cap, or US$8.79m). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.9% average weekly change). Profit margins are more than 30% lower than last year (3.1% net profit margin). Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹55.00, the stock trades at a trailing P/E ratio of 24x. Average trailing P/E is 21x in the Metals and Mining industry in India. Reported Earnings • Nov 14
First half 2024 earnings released: EPS: ₹0.86 (vs ₹1.72 in 1H 2023) First half 2024 results: EPS: ₹0.86 (down from ₹1.72 in 1H 2023). Revenue: ₹457.0m (up 4.7% from 1H 2023). Net income: ₹10.6m (down 38% from 1H 2023). Profit margin: 2.3% (down from 3.9% in 1H 2023). The decrease in margin was driven by higher expenses. Announcement • Nov 04
Earthstahl & Alloys Limited to Report Q2, 2024 Results on Nov 09, 2023 Earthstahl & Alloys Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Announcement • Sep 07
Earthstahl & Alloys Limited, Annual General Meeting, Sep 28, 2023 Earthstahl & Alloys Limited, Annual General Meeting, Sep 28, 2023, at 15:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements of the Company for the year ended 31st March 2023 along with the reports of the Board of Directors and Auditors thereon; to declare dividend at 5% on equity shares for the financial year ended March 31, 2023; to appoint a director in place of Mr. Ravi Thakurdasji Laddha, who retires by rotation at this Annual General Meeting and being eligible, has offered himself for reappointment; and to consider other matters. Announcement • Aug 29
Earthstahl & Alloys Limited Announces Appointment of Akshat Sharma as Company Secretary, Effective September 01, 2023 Earthstahl & Alloys Limited announced that Board of Directors in its meeting held on 28 August 2023, has approved the appointment of Mr. Akshat Sharma as `Company Secretary & Compliance Officer' of the Company with effect from September 01, 2023. Mr. Akshat Sharma is an associate member of the Institute of Company Secretaries of India, having Membership no. A-67006. He is a commerce graduate and has around 2 years of post-membership experience. Valuation Update With 7 Day Price Move • Jul 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹58.76, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 16x in the Metals and Mining industry in India. Announcement • Jul 06
Earthstahl & Alloys Limited Announces Resignation of Rahul Kumar Sinha as Company Secretary / Compliance Officer Earthstahl & Alloys Limited informed that Mr. Rahul Kumar Sinha (holding Membership no. A66805),\ has tendered his resignation from the post of Company Secretary & Compliance Officer of Company vide his resignation letter dt. 05.07.2023 due to pre-commitments. The Company has accepted this resignation and he has been relieved from his duties with the effect from 05.07.2023. It is further informed that there is no other material reason for the resignation otherthan the reason mentioned above. New Risk • Jun 15
New minor risk - Dividend sustainability The company has a short dividend paying track record. Less than a year of continuous dividend payments. Dividend yield: 1.0% This is considered a minor risk. For dividend focussed investors, companies that have not established a long-term track record of consistently maintaining or growing dividends are less attractive than those companies that have a long track record. Those that have a long track record have proven their underlying business is stable enough to consistently maintain or grow the dividend and that the company considers maintaining the dividend to be one of its priorities. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (₹638.9m market cap, or US$7.77m). Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Profit margins are more than 30% lower than last year (8.2% net profit margin). Reported Earnings • Jun 05
Full year 2023 earnings released: EPS: ₹7.94 (vs ₹8.28 in FY 2022) Full year 2023 results: EPS: ₹7.94. Revenue: ₹921.9m (up 89% from FY 2022). Net income: ₹75.1m (flat on FY 2022). Profit margin: 8.1% (down from 15% in FY 2022). The decrease in margin was driven by higher expenses. Announcement • May 31
Earthstahl & Alloys Limited Recommends Dividend for the Financial Year 2022-23 Earthstahl & Alloys Limited announced that the Board of Directors at their meeting held on May 30, 2023, recommended a dividend @ INR 0.50 per share (5%) for the financial year 2022-23, subject to the approval of the members in the general meeting. Valuation Update With 7 Day Price Move • May 31
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹49.27, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 15x in the Metals and Mining industry in India. Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹55.77, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 15x in the Metals and Mining industry in India. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹53.49, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 15x in the Metals and Mining industry in India. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹41.40, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 13x in the Metals and Mining industry in India. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹49.35, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 14x in the Metals and Mining industry in India. Board Change • Feb 08
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Chairman of the Board Surendra Jain was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
