New Risk • Jul 07
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 7.8% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Profit margins are more than 30% lower than last year (5.8% net profit margin). Market cap is less than US$100m (₹4.25b market cap, or US$44.8m). Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹4.86, the stock trades at a trailing P/E ratio of 35.4x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 51% over the past three years. Announcement • May 14
Shah Metacorp Limited to Report Q4, 2026 Results on May 26, 2026 Shah Metacorp Limited announced that they will report Q4, 2026 results on May 26, 2026 Announcement • Feb 03
Shah Metacorp Limited to Report Q3, 2026 Results on Feb 12, 2026 Shah Metacorp Limited announced that they will report Q3, 2026 results at 12:08 PM, Indian Standard Time on Feb 12, 2026 Announcement • Nov 05
Shah Metacorp Limited to Report Q2, 2026 Results on Nov 14, 2025 Shah Metacorp Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Aug 12
Shah Metacorp Limited, Annual General Meeting, Sep 30, 2025 Shah Metacorp Limited, Annual General Meeting, Sep 30, 2025. Announcement • Aug 02
Shah Metacorp Limited to Report Q1, 2026 Results on Aug 08, 2025 Shah Metacorp Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Announcement • Apr 20
Shah Metacorp Limited to Report Fiscal Year 2025 Results on May 06, 2025 Shah Metacorp Limited announced that they will report fiscal year 2025 results on May 06, 2025 Announcement • Mar 06
Shah Metacorp Limited announced a financing transaction Shah Metacorp Limited announced a private placement of 66,500,000 equity shares and 44,000,000 convertible equity warrants on March 5, 2025. The transaction has been approved by the shareholders of the company. The securities will be issued on preferential basis. Announcement • Jan 07
Shah Metacorp Limited to Report Q3, 2025 Results on Jan 10, 2025 Shah Metacorp Limited announced that they will report Q3, 2025 results at 12:08 PM, Indian Standard Time on Jan 10, 2025 Announcement • Dec 23
Shah Metacorp Limited announced that it expects to receive INR 9.045 million in funding Shah Metacorp Limited announced a private placement to issue 9,000,000 warrants at an issue price of INR 1.005 per warrant for the gross proceeds of INR 9,045,000 on December 21, 2024. The transaction will include participation from returning investor Mona Viral Shah for 5,92,06,084 shares for 10.12% stake and post completion 6,82,06,084 shares for 11.48% stake. The transaction has been approved by shareholders of company. Announcement • Oct 10
Shah Metacorp Limited to Report Q2, 2025 Results on Oct 16, 2024 Shah Metacorp Limited announced that they will report Q2, 2025 results on Oct 16, 2024 Announcement • Aug 23
Shah Metacorp Limited, Annual General Meeting, Sep 30, 2024 Shah Metacorp Limited, Annual General Meeting, Sep 30, 2024. Announcement • Aug 02
Shah Metacorp Limited announced that it expects to receive INR 246.523224 million in funding Shah Metacorp Limited announced a private placement of 61,324,185 equity shares at a price of INR 4.02 per share for the gross proceeds of INR 246,523,224 on August 1, 2024. The transaction has been approved by the shareholders of the company. Announcement • Jul 25
Shah Metacorp Limited Announces Resignation of Ravikumar Thakkar as Independent Director and Cessation as Chairman of Audit Committee and Member of Nomination and Remuneration Committee, Effective July 27, 2024 Shah Metacorp Limited announced that Mr. Ravikumar Thakkar has tendered his resignation as an Independent Director of the Company with effect from close of business hours on July 27, 2024, due to personal reason not being able to devote sufficient time to the company's activity. Consequently, Mr. Ravi Thakkar ceased to be a Member/Chairperson positions of the Audit Committee (Chairman), Nomination and Remuneration Committee (Member) effective from July 27, 2024. Announcement • Jul 17
Shah Metacorp Limited to Report Q1, 2025 Results on Jul 25, 2024 Shah Metacorp Limited announced that they will report Q1, 2025 results on Jul 25, 2024 Valuation Update With 7 Day Price Move • May 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹4.40, the stock trades at a trailing P/E ratio of 43.3x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total returns to shareholders of 147% over the past three years. Reported Earnings • May 23
Full year 2024 earnings released: EPS: ₹0.11 (vs ₹0.14 in FY 2023) Full year 2024 results: EPS: ₹0.11. Revenue: ₹1.01b (up 154% from FY 2023). Net income: ₹42.6m (up 158% from FY 2023). Profit margin: 4.2% (up from 4.1% in FY 2023). The increase in margin was driven by higher revenue. Announcement • May 11
Shah Metacorp Limited to Report Q4, 2024 Results on May 17, 2024 Shah Metacorp Limited announced that they will report Q4, 2024 results on May 17, 2024 Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹0.02 (vs ₹0.14 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.02 (down from ₹0.14 in 3Q 2023). Revenue: ₹131.2m (down 15% from 3Q 2023). Net income: ₹7.71m (down 65% from 3Q 2023). Profit margin: 5.9% (down from 14% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jan 22
Shah Metacorp Limited to Report Q3, 2024 Results on Jan 27, 2024 Shah Metacorp Limited announced that they will report Q3, 2024 results on Jan 27, 2024 Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹3.20, the stock trades at a trailing P/E ratio of 74x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 31% over the past three years. Reported Earnings • Oct 14
Second quarter 2024 earnings released: EPS: ₹0.02 (vs ₹0.06 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.02 (down from ₹0.06 in 2Q 2023). Revenue: ₹224.2m (up ₹191.7m from 2Q 2023). Net income: ₹7.59m (down 23% from 2Q 2023). Profit margin: 3.4% (down from 30% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Oct 06
Shah Metacorp Limited to Report Q2, 2023 Results on Oct 12, 2023 Shah Metacorp Limited announced that they will report Q2, 2023 results on Oct 12, 2023 Announcement • Aug 27
Shah Metacorp Limited, Annual General Meeting, Sep 30, 2023 Shah Metacorp Limited, Annual General Meeting, Sep 30, 2023. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: ₹0.04 (vs ₹0.06 in 1Q 2023) First quarter 2024 results: EPS: ₹0.04. Revenue: ₹192.4m (up ₹186.8m from 1Q 2023). Net income: ₹12.5m (up 44% from 1Q 2023). Profit margin: 6.5% (down from 155% in 1Q 2023). Announcement • Aug 15
Shah Metacorp Limited Appoints Narendra Kumar Sharma as Chief Financial Officer Shah Metacorp Limited announced that at its board meeting held on August 14, 2023, approved appointment of Mr. Narendra Kumar Sharma as a Chief Financial Officer (CFO) and Key managerial personnel of the Company with effect from August 14, 2023, as recommended by the Nomination and Remuneration Committee and based on approval of Audit Committee of the Company. Mr. Narendra Sharma is certified GST Professional from Indian Institute of Goods & Service Tax, Commerce graduate and pursuing Chartered Accountant and having more than 6 years of experience in the field of accounting, taxation, finance management and Risk Assessment. He worked with Kethan Private Limited, Rajasthan Skill & Development Livelyhood Corporation, Bhardwaj Infrastructure Private Limited, Poddar Footwear Private Limited. Announcement • Aug 08
Shah Metacorp Limited to Report Q1, 2024 Results on Aug 14, 2023 Shah Metacorp Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹3.75, the stock trades at a trailing P/E ratio of 75.4x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 42% over the past three years. Announcement • Jul 01
Gyscoal Alloys Limited Announces Resignation of Neelesh Bhutara as Chief Financial Officer Gyscoal Alloys Limited announced that Mr. Neelesh Bhutara has tendered his resignation on June 30, 2023 from the post of Chief Financial Officer (CFO), Key Managerial Personnel of the Company with effect from July 09, 2023 due to personal reason. Reported Earnings • Jun 20
Full year 2023 earnings released: EPS: ₹0.06 (vs ₹0.36 loss in FY 2022) Full year 2023 results: EPS: ₹0.06 (up from ₹0.36 loss in FY 2022). Revenue: ₹468.8m (up 134% from FY 2022). Net income: ₹16.5m (up ₹72.9m from FY 2022). Profit margin: 3.5% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹2.75, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 38% over the past three years. Announcement • Jun 03
Gyscoal Alloys Limited to Report Q4, 2023 Results on Jun 19, 2023 Gyscoal Alloys Limited announced that they will report Q4, 2023 results on Jun 19, 2023 Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹2.50, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 59% over the past three years. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improved over the past week After last week's 16% share price gain to ₹3.70, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 90% over the past three years. Reported Earnings • Jan 10
Third quarter 2023 earnings released: EPS: ₹0.14 (vs ₹0.005 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.14 (up from ₹0.005 in 3Q 2022). Revenue: ₹168.1m (up 151% from 3Q 2022). Net income: ₹22.1m (up ₹21.3m from 3Q 2022). Profit margin: 13% (up from 1.1% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Jan 02
Gyscoal Alloys Limited to Report Q3, 2023 Results on Jan 09, 2023 Gyscoal Alloys Limited announced that they will report Q3, 2023 results on Jan 09, 2023 Board Change • Nov 16
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Non-Executive & Non-Independent Director Dipali Shah is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Recent Insider Transactions • Aug 26
Chief Executive Officer recently sold ₹405k worth of stock On the 22nd of August, Viral Shah sold around 405k shares on-market at roughly ₹1.00 per share. This was the largest sale by an insider in the last 3 months. Viral has been a seller over the last 12 months, reducing personal holdings by ₹3.8m. Reported Earnings • Aug 07
First quarter 2023 earnings released First quarter 2023 results: Revenue: ₹38.0m (down 26% from 1Q 2022). Net income: ₹8.72m (up ₹7.96m from 1Q 2022). Profit margin: 23% (up from 1.5% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Jun 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Non-Executive & Non-Independent Director Dipali Shah is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 14
Full year 2022 earnings released: ₹0.35 loss per share (vs ₹4.71 loss in FY 2021) Full year 2022 results: ₹0.35 loss per share (up from ₹4.71 loss in FY 2021). Revenue: ₹229.2m (up 82% from FY 2021). Net loss: ₹56.3m (loss narrowed 92% from FY 2021). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Apr 27
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Samir Jani is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Valuation Update With 7 Day Price Move • Apr 11
Investor sentiment improved over the past week After last week's 42% share price gain to ₹5.40, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 16% over the past three years. Board Change • Apr 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Samir Jani is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Mar 02
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Non-Executive Independent Director Samir Jani is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 14
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.005 (up from ₹0.43 loss in 3Q 2021). Net income: ₹764.0k (up ₹69.5m from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 21% share price decline to ₹5.70, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 8.6% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 25% share price gain to ₹5.00, the stock trades at a trailing P/E ratio of 2.1x. Average trailing P/E is 12x in the Metals and Mining industry in India. Total loss to shareholders of 25% over the past three years. Recent Insider Transactions • Dec 12
Chairman recently sold ₹3.4m worth of stock On the 8th of December, Viral Shah sold around 2m shares on-market at roughly ₹2.21 per share. This was the largest sale by an insider in the last 3 months. This was Viral's only on-market trade for the last 12 months. Reported Earnings • Jun 20
Full year 2021 earnings released: ₹4.68 loss per share (vs ₹0.86 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹128.2m (down 80% from FY 2020). Net loss: ₹744.9m (loss widened 444% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 38 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 20
New 90-day low: ₹2.60 The company is down 10.0% from its price of ₹2.90 on 20 November 2020. The Indian market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 35% over the same period. Reported Earnings • Feb 17
Third quarter 2021 earnings released: ₹0.43 loss per share (vs ₹0.37 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: ₹36.7m (down 75% from 3Q 2020). Net loss: ₹68.8m (loss widened 19% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 02
New 90-day low: ₹2.85 The company is down 21% from its price of ₹3.60 on 04 November 2020. The Indian market is up 22% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 40% over the same period. 
