Zenith Steel Pipes & Industries share price & results
- Jun 2026
- Jun 2026
Mumbai-based pioneer maker of ERW and hot-dip-galvanized steel pipes and HSAW (spirally welded) pipes, a long-time exporter of ERW Black & Galvanized pipes to the U.S.A. market from India.
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 | 7.2 | −62.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -1.7 | +21.9 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 0.44 | −54.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | -1.21 | −1.3 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -2.47 | −5.3 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | -61.73 | −38.3 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −48.6% 1Y
1Y: ₹9.86 on 24 Oct 2025 → ₹5.07. High ₹9.86 (24 Oct 2025), low ₹4.6 (28 Jan 2026).
- Previous close
- ₹5
- Market cap
- ₹73 Cr
- 52-week range
- ₹4.6 – ₹9.36
- One year
- −45.83%
- Price to earnings (TTM to Jun 2026)
- 24.27×
- Return on equity (TTM to Jun 2026)
- -1.21%
Overview
- Symbol
- NSE:ZENITHSTL
- Sector
- Capital Goods
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Zenith Steel Pipes & Industries Limited does
Based on the company's own presentations, annual report and earnings calls.
Zenith Steel Pipes & Industries Limited (formerly Zenith Birla (India) Limited) is a pioneer of ERW (electric resistance welded) and hot-dip-galvanized steel pipe manufacturing in India, incorporated in 1960 with commercial production starting in 1962. It makes ERW Black and Galvanized pipes from 1/2 inch to 20 inch diameter and is among the largest suppliers of these pipes to the U.S.A. market from India. It also manufactures Spirally Welded (HSAW) pipes from 18 inch to 100 inch OD (457mm to 2540mm), used for bulk transportation of water, and runs two wholly owned overseas subsidiaries (Zenith USA Inc. and Zenith Middle East FZ LLC in the UAE) set up to develop export markets.
Segments
- ERW Pipes
- HSAW Pipes
- Manufacturing units
- 4 (Khopoli & Murbad, Maharashtra; Tarapur, Maharashtra; Trichy, Tamil Nadu) — Khopoli unit under lock-out since Nov 2013
- ERW pipe diameter range
- 1/2 inch to 20 inch (Black & Galvanized)
- HSAW pipe size range
- 18 inch to 100 inch OD (457mm to 2540mm)
- Permanent employees
- 121
- Overseas subsidiaries
- 2 (Zenith USA Inc.; Zenith Middle East FZ LLC, UAE)
- Years in operation
- 63+ years (incorporated 1960; commercial production since 1962)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: −54% (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 | 30 | 36 | 25 | 19 | 14 | 9 | 11 | 7 |
| Expenses | 31 | 36 | 27 | 23 | 19 | 13 | 14 | 7 |
| Operating profit | -1 | 0 | -2 | -4 | -5 | -4 | -3 | -0 |
| Operating margin | −1.9% | 0.0% | −8.2% | −23.5% | −38.7% | −38.5% | −22.9% | −1.7% |
| Other income | 1 | 1 | 6 | 7 | 7 | 6 | 5 | 2 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -0 | -0 | 3 | 1 | 1 | 1 | 1 | 0 |
| Tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net profit | -0 | -0 | 3 | 1 | 1 | 1 | 1 | 0 |
| EPS (₹ per share) | -0.03 | -0.01 | 0.20 | 0.07 | 0.05 | 0.10 | 0.10 | 0.03 |
| Line item | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Sales | 141 | 119 | 54 |
| Expenses | 141 | 124 | 70 |
| Operating profit | -0 | -5 | -16 |
| Other income | 5 | 10 | 25 |
| Interest | 3 | 2 | 2 |
| Depreciation | 3 | 2 | 2 |
| Profit before tax | -1 | 0 | 5 |
| Net profit | -1 | 0 | 5 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 142 | 142 | 142 | 142 | 142 | 142 |
| Reserves | -384 | -398 | -399 | -399 | -394 | -391 |
| Borrowings | 227 | 219 | 215 | 266 | 215 | 269 |
| Other liabilities | 207 | 206 | 224 | 150 | 191 | 134 |
| Total liabilities | 192 | 169 | 182 | 159 | 155 | 154 |
| Fixed assets | 44 | 45 | 44 | 42 | 41 | 40 |
| Capital work in progress | 0 | 1 | 1 | 1 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 148 | 123 | 138 | 116 | 113 | 113 |
| Total assets | 192 | 169 | 182 | 159 | 155 | 154 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 16 | -1 | 18 | 5 | 4 | -1 |
| Cash from investing | -1 | 8 | -3 | -2 | -2 | -1 |
| Cash from financing | -15 | -7 | -11 | -7 | -0 | 0 |
| Net cash flow | 0 | -1 | 3 | -5 | 2 | -2 |
| Free cash flow | 16 | 8 | 14 | 3 | 3 | -1 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 57 | 112 | 104 | 151 | 173 | 391 |
| Inventory days | 83 | 108 | 62 | 91 | 52 | 73 |
| Days payable | 309 | 346 | 277 | 409 | 604 | 957 |
| Cash conversion cycle | -170 | -126 | -111 | -167 | -378 | -494 |
| Working capital days | -1357 | -604 | -697 | -755 | -914 | -1872 |
| Return on capital employed | — | — | — | — | — | 39.1% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Public hold 84.34% as of Jun 2026; institutions added 0.00 pts since Mar 2026.
- Promoters 15.64%
- Domestic institutions 0.02%
- Public 84.34%
Who is on the register
Named in the Jun 2026 filing
Every holder of Zenith Steel Pipes & Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 5.74% | unchanged | |
| 5.48% | unchanged | |
| 4.92% | unchanged | |
| 2.81% | unchanged | |
| 2.67% | unchanged | |
| 2.66% | unchanged | |
| 1.93% | unchanged | |
| 1.77% | unchanged | |
| 1.76% | unchanged | |
| 1.72% | unchanged | |
| 1.72% | unchanged | |
| 1.68% | 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.
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