PANCHMAHQ
Panchmahal Steel financials
- Market cap
- ₹534 Cr
- Sector
- Capital Goods
Quarterly results
Q1 FY27: revenue up 7.3%, net profit up 326.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 99 | 95 | 91 | 88 | 93 −6% | 98 +4% | 106 +16% | 94 +7% |
| EBITDA | 5 | 5 | 0 | -0 | 3 −35% | 4 −16% | 4 +4078% | 8 +4195% |
| Net profit | 2 | 2 | -2 | -2 | 1 −69% | 1 −26% | -2 −4% | 4 +326% |
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 +5.6% 1Y
1Y: ₹265.05 on 10 Sept 2025 → ₹280. High ₹353.7 (12 Feb 2026), low ₹256.2 (11 Sept 2025).
Financials, as filed
Revenue fell 5.2% a year over 2 years, FY24 to FY26. Operating margin narrowed to 2.9%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹428 Cr | ₹383 Cr | ₹384 Cr |
| Operating profit | ₹16 Cr | ₹16 Cr | ₹11 Cr |
| Operating margin | 3.7% | 4.0% | 2.9% |
| Interest | ₹8 Cr | ₹6 Cr | ₹5 Cr |
| Depreciation | ₹8 Cr | ₹8 Cr | ₹8 Cr |
| Net profit | ₹3 Cr | ₹3 Cr | ₹-2 Cr |
| Net margin | 0.7% | 0.9% | -0.6% |
| Cash from operations | ₹40 Cr | ₹-5 Cr | ₹29 Cr |
| Free cash flow | ₹38 Cr | ₹-5 Cr | ₹25 Cr |
| ROCE | 6.0% | 5.0% | 3.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹19 Cr | ₹19 Cr | ₹19 Cr | ₹19 Cr | ₹19 Cr | ₹19 Cr |
| Reserves | ₹83 Cr | ₹141 Cr | ₹135 Cr | ₹138 Cr | ₹134 Cr | ₹132 Cr |
| Borrowings | ₹55 Cr | ₹28 Cr | ₹76 Cr | ₹40 Cr | ₹48 Cr | ₹35 Cr |
| Other liabilities | ₹121 Cr | ₹111 Cr | ₹65 Cr | ₹38 Cr | ₹30 Cr | ₹38 Cr |
| Total liabilities | ₹277 Cr | ₹299 Cr | ₹295 Cr | ₹234 Cr | ₹231 Cr | ₹224 Cr |
| Fixed assets | ₹75 Cr | ₹73 Cr | ₹71 Cr | ₹65 Cr | ₹54 Cr | ₹52 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹202 Cr | ₹226 Cr | ₹224 Cr | ₹169 Cr | ₹177 Cr | ₹172 Cr |
| Total assets | ₹277 Cr | ₹299 Cr | ₹295 Cr | ₹234 Cr | ₹231 Cr | ₹224 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
The ownership split has held steady since Jun 2025. The shareholder count shrank 7% to 2,506.
- Promoters
- 73.8%
- Government
- 3.9%
- Public
- 22.3%
Since Jun 2025
- Public −0.01 pp
- Promoters 0.00 pp
- DIIs 0.00 pp
How it drifted, 12 quarters
Over this window DIIs fell from 3.9% to 0.0% — −3.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 74.9%, DIIs 3.9%, Public 21.2%.Dec '23: Promoters 74.9%, DIIs 3.9%, Public 21.2%.Mar '24: Promoters 74.9%, DIIs 3.9%, Public 21.2%.Jun '24: Promoters 74.9%, DIIs 3.9%, Public 21.2%.Sep '24: Promoters 74.9%, DIIs 3.9%, Public 21.2%.Dec '24: Promoters 74.9%, DIIs 3.9%, Public 21.2%.Mar '25: Promoters 74.4%, DIIs 3.9%, Public 21.7%.Jun '25: Promoters 73.8%, Government 3.9%, Public 22.3%.Sep '25: Promoters 73.8%, Government 3.9%, Public 22.3%.Dec '25: Promoters 73.8%, Government 3.9%, Public 22.3%.Mar '26: Promoters 73.8%, Government 3.9%, Public 22.3%.Jun '26: Promoters 73.8%, Government 3.9%, Public 22.3%.
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.
- Shantaben Jayrambhai Patel +0.10 pp 1.21% held
The same filing shows 0 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 Panchmahal Steel Ltd. above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Honeyvick Enterprises Private Limited | 55.36% | unchanged |
| Ashok Malhotra | 15.18% | unchanged |
| Dimple Kamlesh Kanungo | 8.81% | unchanged |
| Gujarat Industrial Investment Corporation Limited | 3.93% | unchanged |
| Bikrampur Investments And Trading Private Limited | 3.56% | unchanged |
| Ashok Ramlubhaya Malhotra (Huf) | 1.34% | unchanged |
| Pankhi Manohar Kanungo | 1.21% | unchanged |
| Shantaben Jayrambhai Patel | 1.21% | +0.10 pp |
| Vikas Ashok Malhotra | 0.88% | unchanged |
| Tejas Hanish Malhotra | 0.52% | unchanged |
| Shaan Hanish Malhotra | 0.52% | unchanged |
| Hanish Ashok Malhotra | 0.00% | 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 Panchmahal Steel Ltd.
Guides on how to read this kind of business and the numbers that matter.