Backward-integrated UP/Gujarat steel maker: TMT bars, billets from captive mines, pellets & captive power.
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Market Cap
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 81 | 81 | 81 | 241 | 241 | 241 | 241 | 241 |
| Reserves | 574 | 656 | 2.0k | 2.0k | 2.2k | 2.6k | 2.9k | 3.1k |
| Borrowings | 123 | 114 | 387 | 538 | 462 | 378 | 657 | 548 |
| Other Liabilities | 54 | 79 | 219 | 186 | 223 | 328 | 341 | 406 |
| Total Liabilities | 832 | 930 | 2.7k | 2.9k | 3.1k | 3.5k | 4.1k | 4.3k |
| AssetsFixed Assets | 198 | 463 | 1.5k | 1.6k | 1.9k | 1.8k | 2.0k | 1.9k |
| CWIP | 241 | 5 | 359 | 316 | 122 | 318 | 172 | 349 |
| Investments | 211 | 236 | 1 | 2 | 52 | 40 | 116 | 25 |
| Other Assets | 182 | 226 | 876 | 1.0k | 1.1k | 1.4k | 1.8k | 2.0k |
| Total Assets | 832 | 930 | 2.7k | 2.9k | 3.1k | 3.5k | 4.1k | 4.3k |
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 (25.4×) and current (46.1×) 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.
At 45.1% growth and a 25× exit, ₹713 only delivers your return if you pay ₹1,244. The price is currently baking in 31% growth.
EPS grows 45.1%/yr for 5 years, then fades to 6% over 2, exits at 25×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 45.1% | 22.43 |
| FY28 | 45.1% | 32.55 |
| FY29 | 45.1% | 47.23 |
| FY30 | 45.1% | 68.53 |
| FY31 | 45.1% | 99.44 |
| FY32 | 25.6% ·fade | 124.84 |
| FY33 | 6.0% ·fade | 132.33 |
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.
Guides on how to read this kind of business and the numbers that matter.