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    Aditya Ultra Steel Ltd

    Gujarat-based manufacturer of TMT reinforcement steel bars (8mm-32mm) sold under the Kamdhenu brand to the construction and infrastructure sector on a B2B basis.

    Capital Goods
    Industrials

    Overview

    Price

    Market Cap

    ₹62 Cr

    Sector

    Capital Goods

    Industrials

    Rank

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital1212121217252525
    Reserves1419252730757578
    Borrowings4336475054769079
    Other Liabilities8108846212710
    Total Liabilities78779297148197216193
    AssetsFixed Assets3232313133323447
    CWIP000002130
    Investments00000000
    Other Assets45456066115163169146
    Total Assets78779297148197216193

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating-222-685-444
    Cash from Investing-3-10-1-2-9-5
    Cash from Financing5-12-3-7057-5
    SummaryCapital Expenditure
    Free Cash Flow-621-773-47-11
    FCF Margin

    Valuation

    Assumptions

    Current — AUSL
    Price
    ₹26
    EPS (TTM)
    ₹5.38
    PE (TTM)
    4.8
    Profit growth

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (3.3×) and current (4.8×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹26
    vs
    Fair value · 15% return
    ₹11
    57%Overvalued

    At 10% growth and a 3× exit, ₹26 only delivers your return if you pay ₹11. The price is currently baking in 28% growth.

    EPS grows 10%/yr for 5 years, then fades to 6% over 2, exits at 3×.

    YearGrowthEPS (₹)
    FY2710.0%5.92
    FY2810.0%6.51
    FY2910.0%7.16
    FY3010.0%7.88
    FY3110.0%8.66
    FY328.0% ·fade9.36
    FY336.0% ·fade9.92

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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