Announcement • Aug 01
Kalyani Steels Limited to Report Q1, 2027 Results on Aug 07, 2026 Kalyani Steels Limited announced that they will report Q1, 2027 results on Aug 07, 2026 Reported Earnings • Jul 30
Full year 2026 earnings released: EPS: ₹59.07 (vs ₹58.70 in FY 2025) Full year 2026 results: EPS: ₹59.07 (up from ₹58.70 in FY 2025). Revenue: ₹18.5b (down 6.9% from FY 2025). Net income: ₹2.58b (flat on FY 2025). Profit margin: 14% (up from 13% in FY 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jul 23
Dividend of ₹10.00 announced Dividend of ₹10.00 is the same as last year. Ex-date: 31st July 2026 Payment date: 4th September 2026 Dividend yield will be 1.1%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (17% earnings payout ratio) and cash flows (55% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 6.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 21
Kalyani Steels Limited, Annual General Meeting, Aug 27, 2026 Kalyani Steels Limited, Annual General Meeting, Aug 27, 2026, at 11:00 Indian Standard Time. Reported Earnings • May 09
Full year 2026 earnings released: EPS: ₹59.07 (vs ₹58.70 in FY 2025) Full year 2026 results: EPS: ₹59.07 (up from ₹58.70 in FY 2025). Revenue: ₹19.1b (down 3.8% from FY 2025). Net income: ₹2.58b (flat on FY 2025). Profit margin: 14% (in line with FY 2025). Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 02
Kalyani Steels Limited to Report Q4, 2026 Results on May 08, 2026 Kalyani Steels Limited announced that they will report Q4, 2026 results on May 08, 2026 Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹786, the stock trades at a trailing P/E ratio of 12.9x. Average forward P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 157% over the past three years. Reported Earnings • Feb 04
Third quarter 2026 earnings released: EPS: ₹14.19 (vs ₹12.93 in 3Q 2025) Third quarter 2026 results: EPS: ₹14.19 (up from ₹12.93 in 3Q 2025). Revenue: ₹4.62b (down 4.5% from 3Q 2025). Net income: ₹619.6m (up 9.8% from 3Q 2025). Profit margin: 13% (up from 12% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 27
Kalyani Steels Limited to Report Q3, 2026 Results on Feb 03, 2026 Kalyani Steels Limited announced that they will report Q3, 2026 results on Feb 03, 2026 Reported Earnings • Nov 05
Second quarter 2026 earnings released: EPS: ₹14.33 (vs ₹15.44 in 2Q 2025) Second quarter 2026 results: EPS: ₹14.33 (down from ₹15.44 in 2Q 2025). Revenue: ₹4.71b (down 4.2% from 2Q 2025). Net income: ₹625.4m (down 7.2% from 2Q 2025). Profit margin: 13% (in line with 2Q 2025). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 28
Kalyani Steels Limited to Report Q2, 2026 Results on Nov 04, 2025 Kalyani Steels Limited announced that they will report Q2, 2026 results on Nov 04, 2025 Upcoming Dividend • Aug 06
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 11 August 2025. Payment date: 02 September 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (2.8%). Reported Earnings • Jul 25
Full year 2025 earnings released: EPS: ₹58.70 (vs ₹56.99 in FY 2024) Full year 2025 results: EPS: ₹58.70 (up from ₹56.99 in FY 2024). Revenue: ₹19.8b (up 1.1% from FY 2024). Net income: ₹2.56b (up 3.0% from FY 2024). Profit margin: 13% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 24
Kalyani Steels Limited to Report Q1, 2026 Results on Jul 31, 2025 Kalyani Steels Limited announced that they will report Q1, 2026 results on Jul 31, 2025 Declared Dividend • Jul 21
Dividend of ₹5.00 announced Shareholders will receive a dividend of ₹5.00. Ex-date: 11th August 2025 Payment date: 21st September 2025 Dividend yield will be 0.6%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 13% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 18
Kalyani Steels Limited, Annual General Meeting, Aug 22, 2025 Kalyani Steels Limited, Annual General Meeting, Aug 22, 2025, at 11:00 Indian Standard Time. Reported Earnings • May 07
Full year 2025 earnings released: EPS: ₹58.70 (vs ₹56.99 in FY 2024) Full year 2025 results: EPS: ₹58.70 (up from ₹56.99 in FY 2024). Revenue: ₹19.8b (up 1.1% from FY 2024). Net income: ₹2.56b (up 3.0% from FY 2024). Profit margin: 13% (in line with FY 2024). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 05
Kalyani Steels Limited Recommends Dividend for the Financial Year 2024-2025 Kalyani Steels Limited announced that the Board of Directors at their meeting held on May 5, 2025, have recommended Dividend of INR 10 per Equity Share of INR 5 each (i.e. 200%), on the Equity Share Capital of the Company for the Financial Year 2024-25, subject To Approve the members, at the upcoming Annual General Meeting. Announcement • Apr 28
Kalyani Steels Limited to Report Q4, 2025 Results on May 05, 2025 Kalyani Steels Limited announced that they will report Q4, 2025 results on May 05, 2025 Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹12.93 (vs ₹14.97 in 3Q 2024) Third quarter 2025 results: EPS: ₹12.93 (down from ₹14.97 in 3Q 2024). Revenue: ₹4.84b (flat on 3Q 2024). Net income: ₹564.5m (down 14% from 3Q 2024). Profit margin: 12% (down from 14% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 24
Kalyani Steels Limited to Report Q4, 2025 Results on Feb 03, 2025 Kalyani Steels Limited announced that they will report Q4, 2025 results on Feb 03, 2025 Valuation Update With 7 Day Price Move • Jan 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹984, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 206% over the past three years. Buy Or Sell Opportunity • Jan 09
Now 21% undervalued Over the last 90 days, the stock has risen 23% to ₹1,028. The fair value is estimated to be ₹1,302, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.9% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Dec 17
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹1,243, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 27x in the Metals and Mining industry in India. Total returns to shareholders of 330% over the past three years. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹902, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 198% over the past three years. Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: ₹15.44 (vs ₹13.36 in 2Q 2024) Second quarter 2025 results: EPS: ₹15.44 (up from ₹13.36 in 2Q 2024). Revenue: ₹5.07b (up 5.6% from 2Q 2024). Net income: ₹673.8m (up 16% from 2Q 2024). Profit margin: 13% (up from 12% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 21
Kalyani Steels Limited to Report Q2, 2025 Results on Oct 28, 2024 Kalyani Steels Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Sep 05
Kalyani Steels Limited Announces Completion of Term of Office of Arun P. Pawar as an Independent Director Kalyani Steels Limited announced that the Second Term of Mr. Arun P. Pawar, as an Independent Director of the Company, has been completed on September 4, 2024 and accordingly Mr. Pawar has ceased to be the Director of the Company with effect from September 5, 2024. Upcoming Dividend • Aug 07
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 14 August 2024. Payment date: 02 September 2024. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 1.2%. Within top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (1.7%). Announcement • Jul 29
Kalyani Steels Limited to Report Q1, 2025 Results on Aug 06, 2024 Kalyani Steels Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Reported Earnings • Jul 27
Full year 2024 earnings released: EPS: ₹56.99 (vs ₹38.26 in FY 2023) Full year 2024 results: EPS: ₹56.99 (up from ₹38.26 in FY 2023). Revenue: ₹19.6b (up 3.2% from FY 2023). Net income: ₹2.49b (up 49% from FY 2023). Profit margin: 13% (up from 8.8% in FY 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Declared Dividend • Jul 19
Dividend of ₹10.00 announced Dividend of ₹10.00 is the same as last year. Ex-date: 14th August 2024 Payment date: 2nd September 2024 Dividend yield will be 1.0%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (18% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 18
Kalyani Steels Limited, Annual General Meeting, Aug 22, 2024 Kalyani Steels Limited, Annual General Meeting, Aug 22, 2024, at 11:00 Indian Standard Time. Reported Earnings • May 12
Full year 2024 earnings released: EPS: ₹56.99 (vs ₹38.26 in FY 2023) Full year 2024 results: EPS: ₹56.99 (up from ₹38.26 in FY 2023). Revenue: ₹20.1b (up 5.6% from FY 2023). Net income: ₹2.49b (up 49% from FY 2023). Profit margin: 12% (up from 8.8% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Announcement • May 12
Kalyani Steels Limited Recommends Dividend for the Financial Year 2023-24 Kalyani Steels Limited recommended Dividend of INR 10/- per Equity Share of INR 5/- each (i.e. 200%), on the Equity Share Capital of the Company for the Financial Year 2023-24, subject To Approve the members. Announcement • May 05
Kalyani Steels Limited to Report Fiscal Year 2024 Results on May 10, 2024 Kalyani Steels Limited announced that they will report fiscal year 2024 results on May 10, 2024 Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹1,040, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 252% over the past three years. Reported Earnings • Feb 06
Third quarter 2024 earnings released: EPS: ₹14.97 (vs ₹8.96 in 3Q 2023) Third quarter 2024 results: EPS: ₹14.97 (up from ₹8.96 in 3Q 2023). Revenue: ₹4.92b (up 10% from 3Q 2023). Net income: ₹653.3m (up 67% from 3Q 2023). Profit margin: 13% (up from 8.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹585, the stock trades at a trailing P/E ratio of 11.2x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 127% over the past three years. Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹551, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 22x in the Metals and Mining industry in India. Total returns to shareholders of 105% over the past three years. Announcement • Dec 21
Kalyani Steels Limited Announces Resignation of Bal Mukand Maheshwari as Chief Financial Officer, Effective April 1, 2024 Kalyani Steels Limited announced that Mr. Bal Mukand Maheshwari, Chief Financial Officer, has resigned from the services of the Company vide his letter dated December 20, 2023 and he will be relieved from the services after close of business hours on April 1, 2024. Reported Earnings • Nov 01
Second quarter 2024 earnings released: EPS: ₹13.36 (vs ₹7.93 in 2Q 2023) Second quarter 2024 results: EPS: ₹13.36 (up from ₹7.93 in 2Q 2023). Revenue: ₹4.89b (down 2.2% from 2Q 2023). Net income: ₹583.2m (up 69% from 2Q 2023). Profit margin: 12% (up from 6.9% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 23
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 7.5% 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: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.5% average weekly change). Announcement • Oct 21
Kalyani Steels Limited to Report Q2, 2024 Results on Oct 30, 2023 Kalyani Steels Limited announced that they will report Q2, 2024 results on Oct 30, 2023 Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹548, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 19x in the Metals and Mining industry in India. Total returns to shareholders of 190% over the past three years. Valuation Update With 7 Day Price Move • Aug 22
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹515, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 141% over the past three years. Upcoming Dividend • Aug 04
Upcoming dividend of ₹10.00 per share at 2.4% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 30 August 2023. Payout ratio is a comfortable 26% but the company is not cash flow positive. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (7.5%). Reported Earnings • Jul 24
Full year 2023 earnings released: EPS: ₹38.26 (vs ₹55.93 in FY 2022) Full year 2023 results: EPS: ₹38.26 (down from ₹55.93 in FY 2022). Revenue: ₹19.0b (up 11% from FY 2022). Net income: ₹1.67b (down 32% from FY 2022). Profit margin: 8.8% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: ₹38.26 (vs ₹55.93 in FY 2022) Full year 2023 results: EPS: ₹38.26 (down from ₹55.93 in FY 2022). Revenue: ₹19.6b (up 15% from FY 2022). Net income: ₹1.67b (down 32% from FY 2022). Profit margin: 8.5% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. Independent Director Ahmad Javed was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: ₹8.96 (vs ₹9.80 in 3Q 2022) Third quarter 2023 results: EPS: ₹8.96 (down from ₹9.80 in 3Q 2022). Revenue: ₹4.47b (up 9.8% from 3Q 2022). Net income: ₹390.8m (down 8.6% from 3Q 2022). Profit margin: 8.8% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 16% per year and the company’s share price has also increased by 16% per year. Announcement • Jan 19
Kalyani Steels Limited to Report Q3, 2023 Results on Jan 27, 2023 Kalyani Steels Limited announced that they will report Q3, 2023 results on Jan 27, 2023 Reported Earnings • Oct 23
Second quarter 2023 earnings released: EPS: ₹7.93 (vs ₹14.16 in 2Q 2022) Second quarter 2023 results: EPS: ₹7.93 (down from ₹14.16 in 2Q 2022). Revenue: ₹5.00b (up 8.6% from 2Q 2022). Net income: ₹346.2m (down 44% from 2Q 2022). Profit margin: 6.9% (down from 13% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Aug 09
First quarter 2023 earnings released: EPS: ₹5.41 (vs ₹16.02 in 1Q 2022) First quarter 2023 results: EPS: ₹5.41 (down from ₹16.02 in 1Q 2022). Revenue: ₹5.06b (up 30% from 1Q 2022). Net income: ₹236.3m (down 66% from 1Q 2022). Profit margin: 4.7% (down from 18% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jul 15
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 22 July 2022. Payment date: 12 August 2022. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Indian dividend payers (1.8%). Lower than average of industry peers (6.6%). Reported Earnings • Jul 06
Full year 2022 earnings released: EPS: ₹55.93 (vs ₹43.59 in FY 2021) Full year 2022 results: EPS: ₹55.93 (up from ₹43.59 in FY 2021). Revenue: ₹17.1b (up 44% from FY 2021). Net income: ₹2.44b (up 28% from FY 2021). Profit margin: 14% (down from 16% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 14
Full year 2022 earnings released: EPS: ₹55.93 (vs ₹43.59 in FY 2021) Full year 2022 results: EPS: ₹55.93 (up from ₹43.59 in FY 2021). Revenue: ₹17.6b (up 48% from FY 2021). Net income: ₹2.44b (up 28% from FY 2021). Profit margin: 14% (down from 16% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 28
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹9.80 (down from ₹13.85 in 3Q 2021). Revenue: ₹4.19b (up 14% from 3Q 2021). Net income: ₹427.8m (down 29% from 3Q 2021). Profit margin: 10% (down from 16% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 02
Second quarter 2022 earnings released: EPS ₹14.16 (vs ₹10.39 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2022 results: Revenue: ₹4.73b (up 47% from 2Q 2021). Net income: ₹617.9m (up 36% from 2Q 2021). Profit margin: 13% (in line with 2Q 2021). Upcoming Dividend • Aug 19
Upcoming dividend of ₹7.50 per share Eligible shareholders must have bought the stock before 26 August 2021. Payment date: 15 September 2021. Trailing yield: 1.9%. Within top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.5%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS ₹16.02 (vs ₹2.01 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹3.90b (up 222% from 1Q 2021). Net income: ₹699.4m (up ₹611.8m from 1Q 2021). Profit margin: 18% (up from 7.2% in 1Q 2021). The increase in margin was driven by higher revenue. Reported Earnings • May 19
Full year 2021 earnings released: EPS ₹43.59 (vs ₹31.30 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹12.3b (up 2.7% from FY 2020). Net income: ₹1.90b (up 39% from FY 2020). Profit margin: 16% (up from 11% in FY 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 15
New 90-day high: ₹301 The company is up 26% from its price of ₹240 on 17 November 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 35% over the same period. Reported Earnings • Jan 30
Third quarter 2021 earnings released: EPS ₹13.85 (vs ₹7.40 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹3.68b (up 31% from 3Q 2020). Net income: ₹604.9m (up 87% from 3Q 2020). Profit margin: 16% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 01
New 90-day high: ₹284 The company is up 29% from its price of ₹220 on 01 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 36% over the same period. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improved over the past week After last week's 18% share price gain to ₹284, the stock is trading at a trailing P/E ratio of 10.8x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 16x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 22%. Is New 90 Day High Low • Dec 16
New 90-day high: ₹263 The company is up 26% from its price of ₹209 on 17 September 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 27% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: ₹240 The company is up 6.0% from its price of ₹225 on 20 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Metals and Mining industry, which is up 5.0% over the same period.