Kalyani Steels share price & results
- Jun 2026
- Sept 2026
Pune-based Kalyani Group's alloy/special steel arm, running a 250,000 MT integrated plant in Karnataka.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 465 | +5.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 20.0 | +1.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 68.0 | +9.7% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 13.56 | −1.1 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 4.33 | −13.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -4.89 | −8.0 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +5.3% 1Y
1Y: ₹834.8 on 24 Oct 2025 → ₹878.65. High ₹998.25 (23 Sept 2026), low ₹577.75 (30 Mar 2026).
- Previous close
- ₹869
- Market cap
- ₹3.8k Cr
- 52-week range
- ₹577.75 – ₹998.25
- One year
- +5.28%
- Price to earnings (TTM to Jun 2026)
- 14.00×
- Return on equity (TTM to Jun 2026)
- 13.56%
Overview
- Symbol
- NSE:KSL
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Kalyani Steels Limited does
Based on the company's own presentations, annual report and earnings calls.
Kalyani Steels manufactures alloy and special/engineering steel long products — billets, blooms, rounds and rolled cast sections — at a single integrated steel plant in Ginigera, Koppal district, Karnataka, which houses its own sinter plant, coke ovens, mini blast furnaces, an electric (energy-optimizing) furnace, ladle furnace, vacuum degassing unit and a captive power plant. It sells this steel as feedstock to manufacturers of automotive, bearing, energy, oil & gas, engineering and seamless-tube components. The company is part of the Pune-based Kalyani Group, a conglomerate spanning specialty steel, forgings, automotive components, defense and infrastructure, and is closely associated with group company Bharat Forge. Beyond its Karnataka plant, it maintains warehouses and regional sales offices across northern, western, eastern and southern India to stay close to customers.
Segments
- Alloy & Special Steel (Long Products)
- Installed annual production capacity
- 250,000 MT
- Integrated steel plants
- 1 (Ginigera, Koppal district, Karnataka)
- Captive power plant capacity
- 17 MW
- Warehouse locations
- 3 (Gurgaon, Mumbai, Pune)
- Regional sales offices
- 4 (Delhi, Bhubaneswar, Bangalore, Chennai)
- End-use application segments served
- 6 (Automotive, Bearings, Energy, Oil & Gas, Engineering, Seamless Tubes)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2020 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +10% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 492 | 484 | 544 | 443 | 456 | 462 | 484 | 465 |
| Expenses | 396 | 401 | 430 | 357 | 371 | 371 | 385 | 373 |
| Operating profit | 96 | 83 | 114 | 85 | 85 | 92 | 99 | 91 |
| Operating margin | 20.0% | 17.0% | 21.0% | 19.0% | 19.0% | 20.0% | 20.0% | 20.0% |
| Other income | 15 | 13 | 14 | 15 | 15 | 8 | 14 | 16 |
| Interest | 5 | 6 | 4 | 3 | 2 | 2 | 1 | 2 |
| Depreciation | 16 | 16 | 16 | 15 | 15 | 14 | 14 | 14 |
| Profit before tax | 90 | 76 | 108 | 83 | 84 | 83 | 98 | 92 |
| Tax rate | 25.0% | 25.0% | 26.0% | 26.0% | 25.0% | 26.0% | 26.0% | 26.0% |
| Net profit | 67 | 56 | 80 | 62 | 63 | 62 | 72 | 68 |
| EPS (₹ per share) | 15.44 | 12.93 | 18.37 | 14.13 | 14.33 | 14.19 | 16.42 | 15.63 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 1,707 | 1,900 | 1,960 | 1,981 | 1,845 |
| Expenses | 1,367 | 1,654 | 1,588 | 1,609 | 1,484 |
| Operating profit | 340 | 246 | 371 | 372 | 361 |
| Other income | 52 | 57 | 46 | 55 | 52 |
| Interest | 14 | 29 | 24 | 19 | 8 |
| Depreciation | 46 | 49 | 61 | 64 | 58 |
| Profit before tax | 330 | 225 | 332 | 346 | 348 |
| Net profit | 248 | 168 | 247 | 255 | 259 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 22 | 22 | 22 | 22 | 22 | 22 |
| Reserves | 1,346 | 1,468 | 1,658 | 1,870 | 1,948 | 2,083 |
| Borrowings | 340 | 506 | 596 | 438 | 428 | 475 |
| Other liabilities | 551 | 355 | 297 | 403 | 424 | 416 |
| Total liabilities | 2,258 | 2,351 | 2,573 | 2,732 | 2,821 | 2,996 |
| Fixed assets | 358 | 599 | 734 | 678 | 652 | 627 |
| Capital work in progress | 154 | 18 | 381 | 429 | 490 | 560 |
| Investments | 147 | 146 | 41 | 3 | 137 | 11 |
| Other assets | 1,597 | 1,587 | 1,418 | 1,622 | 1,541 | 1,798 |
| Total assets | 2,258 | 2,351 | 2,573 | 2,732 | 2,821 | 2,996 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 62 | 362 | -126 | 323 | 382 | 141 |
| Cash from investing | -226 | -474 | 153 | -304 | -135 | -105 |
| Cash from financing | 160 | 123 | -39 | -10 | -252 | -42 |
| Net cash flow | -3 | 11 | -12 | 9 | -5 | -6 |
| Free cash flow | 46 | 187 | -237 | -253 | 357 | 80 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 77 | 68 | 78 | 78 | 79 | 98 |
| Inventory days | 71 | 82 | 100 | 93 | 95 | 102 |
| Days payable | 140 | 172 | 81 | 67 | 96 | 96 |
| Cash conversion cycle | 7 | -22 | 97 | 105 | 78 | 104 |
| Working capital days | -11 | -18 | 29 | 4 | 1 | 17 |
| Return on capital employed | 23.0% | 23.0% | 13.0% | — | 16.0% | 15.0% |
| Dividend payout | 17.0% | 18.0% | 26.0% | 18.0% | 17.0% | 17.0% |
What the price assumes
ExpensiveTo justify its price of ₹879, this stock must grow earnings at 8% every year for 7 years. Our analysis caps realistic growth at ~1%. At that growth it is worth ₹611 — downside of 31%.
- Growth the price implies
- 8.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 1.1% a year
- net profit, FY22–FY26 · EPS 1.4%
- The gap
- 0.1 pp
- -31% downside if it only repeats history
Ownership
Who owns it
Promoters hold 64.70% as of Sept 2026; institutions cut 0.69 pts since Jun 2026.
- Promoters 64.70%
- Foreign institutions 1.91%
- Domestic institutions 10.65%
- Public 22.74%
Who is on the register
Named in the Sep 2026 filing
Every holder of Kalyani Steels Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 39.06% | unchanged | |
| 17.79% | unchanged | |
| 7.47% | unchanged | |
| Mutual fund | 6.48% | −0.16 pp |
| Mutual fund | 3.89% | unchanged |
| 0.16% | unchanged | |
| 0.13% | unchanged | |
| 0.07% | unchanged | |
| 0.01% | unchanged | |
| 0.01% | 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.
Your own record
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