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.
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Industrials
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| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 131 | 142 | 142 | 142 | 142 | 142 | 142 | 142 |
| Reserves | -383 | -396 | -384 | -398 | -399 | -399 | -394 | -391 |
| Borrowings | 247 | 228 | 227 | 219 | 215 | 215 | 215 | 220 |
| Other Liabilities | 184 | 162 | 207 | 206 | 224 | 200 | 191 | 183 |
| Total Liabilities | 180 | 136 | 192 | 169 | 182 | 159 | 155 | 154 |
| AssetsFixed Assets | 66 | 48 | 44 | 45 | 44 | 42 | 41 | 40 |
| CWIP | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 114 | 88 | 148 | 123 | 138 | 116 | 113 | 113 |
| Total Assets | 180 | 136 | 192 | 169 | 182 | 159 | 155 | 154 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 21 | 25 | 16 | -1 | 18 | 5 | 6 | -1 |
| Cash from Investing | -0 | 14 | -1 | 8 | -3 | -2 | -1 | -1 |
| Cash from Financing | -21 | -41 | -15 | -7 | -11 | -7 | -2 | 0 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | 21 | 25 | 16 | 8 | 14 | 3 | 6 | -1 |
| FCF Margin | — | — | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
ZENITHSTL · CYCLICAL_UNMODELABLE
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