India's leading seamless steel pipe maker (55% share); also makes ERW pipes, solar/wind power, offshore rig.
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 34 | 34 | 34 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 3.2k | 3.3k | 4.0k | 4.7k | 5.7k | 6.3k | 6.5k | 6.8k |
| Borrowings | 1.1k | 922 | 709 | 244 | 0 | 0 | 10 | 13 |
| Other Liabilities | 889 | 1.1k | 695 | 841 | 852 | 693 | 748 | 849 |
| Total Liabilities | 5.2k | 5.4k | 5.4k | 5.9k | 6.6k | 7.0k | 7.3k | 7.7k |
| AssetsFixed Assets | 2.4k | 2.3k | 2.1k | 2.0k | 1.9k | 1.9k | 1.8k | 1.9k |
| CWIP | 29 | 9 | 13 | 14 | 3 | 14 | 46 | 72 |
| Investments | 1.0k | 1.1k | 646 | 1.2k | 2.1k | 2.9k | 3.4k | 3.8k |
| Other Assets | 1.8k | 2.0k | 2.6k | 2.7k | 2.5k | 2.3k | 2.1k | 2.0k |
| Total Assets | 5.2k | 5.4k | 5.4k | 5.9k | 6.6k | 7.0k | 7.3k | 7.7k |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -183 | 748 | 447 | -269 | 912 | 1.0k | 610 | 933 |
| Cash from Investing | -161 | -730 | -183 | 563 | -386 | -722 | -486 | -775 |
| Cash from Financing | 387 | 7 | -285 | -286 | -542 | -320 | -136 | -123 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -206 | -98 | 428 | -277 | 893 | 1.0k | 586 | 765 |
| FCF Margin | — | — | — | — | — | — | — | — |
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 (11.8×) and current (19.0×) 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 -21.1% growth and a 12× exit, ₹580 only delivers your return if you pay ₹41. The price is currently baking in 28% growth.
EPS grows -21.1%/yr for 5 years, then fades to 6% over 2, exits at 12×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | -21.1% | 24.10 |
| FY28 | -21.1% | 19.01 |
| FY29 | -21.1% | 15.00 |
| FY30 | -21.1% | 11.84 |
| FY31 | -21.1% | 9.34 |
| FY32 | -7.6% ·fade | 8.63 |
| FY33 | 6.0% ·fade | 9.15 |
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.