513361

India Steel financials

Market cap
₹1.1k Cr
Sector
Capital Goods

What India Steel does

India Homes Limited (formerly India Steel Works Limited) completed a strategic pivot during FY26 from stainless-steel manufacturing to Mumbai real-estate redevelopment. The company redevelops legacy and under-utilized properties into premium residential and mixed-use projects in land-scarce, high-demand Mumbai micro-markets, managing approvals, tenant rehabilitation, construction and sales in-house. Its former steel-plant land at Khopoli is being redeveloped through a joint venture with the Lloyds Group, alongside a pipeline of projects in Wadala, Matunga and Chembur.

Segments

  • Real estate redevelopment
  • Stainless steel manufacturing (legacy)
Pipeline redevelopment projects
4 (Wadala, Matunga, Chembur, Khopoli)
Khopoli JV project (Waterfall Enclave) construction area
~60 lakh sq ft, multi-phase, JV with Lloyds Group
Mumbai micro-markets
4 (Matunga, Wadala, Chembur, Dadar)
Promoter group real-estate track record
20+ years
Completed promoter-group projects
3 (The Link – Andheri; Emgee Greens – Wadala; Aden Court – Matunga)
Duke Court (Chembur) construction area
~5,00,000 sq ft
Headquarters Mumbai, Maharashtra (corporate office); Khopoli, Raigad (registered office) Company website

Quarterly results

Q1 FY27: revenue down 100.0%, net profit up 332.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue0 0 0 0 0 0 24 +244700%0 −100%
EBITDA-2 -1 -1 -1 -1 +47%-1 +43%23 +2209%-2 −65%
Net profit-2 -3 -3 -1 -3 −40%0 +113%23 +792%3 +332%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +132.2% 1Y

₹10.0₹15.0₹20.0₹25.0₹30.0Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹11.63 on 10 Sept 2025 → ₹27. High ₹29.49 (7 Sept 2026), low ₹9.65 (2 Dec 2025).

Financials, as filed

Revenue grew 0.7% a year over 4 years, FY22 to FY26. Operating margin widened to 82.4%.

Year endingFY22FY23FY24FY25FY26
Revenue₹24 Cr₹5 Cr₹1 Cr₹0 Cr₹25 Cr
Operating profit₹-61 Cr₹-20 Cr₹-6 Cr₹-6 Cr₹20 Cr
Operating margin-257.8%-424.4%-751.2%-56800.0%82.4%
Interest₹8 Cr₹8 Cr₹10 Cr₹4 Cr₹5 Cr
Depreciation₹8 Cr₹7 Cr₹8 Cr₹7 Cr₹0 Cr
Net profit₹-51 Cr₹-36 Cr₹-12 Cr₹-13 Cr₹19 Cr
Net margin-212.9%-762.6%-1417.1%-134000.0%76.1%
Cash from operations₹-4 Cr₹-1 Cr₹-22 Cr₹-6 Cr₹13 Cr
Free cash flow₹-4 Cr₹-1 Cr₹-22 Cr₹-6 Cr₹13 Cr
ROCE-29.0%-19.0%———
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹40 Cr₹40 Cr₹40 Cr₹40 Cr₹40 Cr₹40 Cr
Reserves₹95 Cr₹46 Cr₹-3 Cr₹0 Cr₹-18 Cr₹5 Cr
Borrowings₹125 Cr₹64 Cr₹75 Cr₹93 Cr₹84 Cr₹91 Cr
Other liabilities₹274 Cr₹288 Cr₹296 Cr₹270 Cr₹288 Cr₹261 Cr
Total liabilities₹535 Cr₹437 Cr₹408 Cr₹402 Cr₹394 Cr₹397 Cr
Fixed assets₹231 Cr₹224 Cr₹213 Cr₹209 Cr₹202 Cr₹202 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr
Investments₹2 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹301 Cr₹213 Cr₹195 Cr₹193 Cr₹192 Cr₹194 Cr
Total assets₹535 Cr₹437 Cr₹408 Cr₹402 Cr₹394 Cr₹397 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +3.62 pp while promoters trimmed −2.04 pp. The shareholder count shrank 15% to 56,712.

Promoters
34.3%
DIIs
4.9%
Public
60.9%

Since Jun 2025

  • DIIs +3.62 pp
  • Promoters −2.04 pp
  • Public −1.52 pp

How it drifted, 12 quarters

Over this window promoters fell from 50.1% to 34.3% — −15.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 50.1%, FIIs 0.1%, DIIs 1.3%, Public 48.6%.Dec '23: Promoters 48.2%, FIIs 0.1%, DIIs 1.3%, Public 50.5%.Mar '24: Promoters 48.0%, FIIs 0.1%, DIIs 1.3%, Public 50.6%.Jun '24: Promoters 48.0%, FIIs 0.1%, DIIs 1.3%, Public 50.6%.Sep '24: Promoters 48.0%, FIIs 0.1%, DIIs 1.3%, Public 50.6%.Dec '24: Promoters 48.0%, FIIs 0.1%, DIIs 1.3%, Public 50.6%.Mar '25: Promoters 36.8%, FIIs 0.1%, DIIs 1.3%, Public 61.8%.Jun '25: Promoters 36.3%, FIIs 0.1%, DIIs 1.3%, Public 62.4%.Sep '25: Promoters 36.3%, DIIs 1.3%, Public 62.4%.Dec '25: Promoters 36.0%, DIIs 1.3%, Public 62.8%.Mar '26: Promoters 35.4%, DIIs 3.5%, Public 61.1%.Jun '26: Promoters 34.3%, DIIs 4.9%, Public 60.9%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of India Steel above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Yeotmal Land Development & Trading Co (P) Ltd 10.97%unchanged
India Steel International Pvt Ltd 9.82%unchanged
Tb Investments Ltd 6.78%unchanged
Lloyds Enterprises Limited 5.59%−1.47 pp
Isiworld Steels Pvt Ltd 4.48%unchanged
Isimetals (India) Pvt Ltd 4.37%unchanged
Setu Securities Private Limited 4.30%unchanged
Rajasthan Global Securities Private Limited NBFC / DFI3.62%+1.36 pp
Sahastraa Advisors Private Limited 2.52%unchanged
F3 Advisors Private Limited 2.51%unchanged
Isisales (India) Private Limited 1.97%−1.15 pp
Parveen Kumar Gupta 1.90%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Learn to analyse India Steel

Guides on how to read this kind of business and the numbers that matter.