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Kalyani Steels Q2 FY27 Share Price & Earnings Call Analysis

₹838.90+0.11% today
Market cap
₹3,660 Cr
P/E
13.67
ROE
13.02%
PEG
0.86
Price to sales
1.92
Debt to equity
0.23
52W high / low
₹998 / ₹578
Sales growth (5Y)
9.21%
EBITDA margin
19.67%
Net profit margin
14.13%
Promoter holding
64.70%
Sales (last year)
₹1,867 Cr

Kalyani Steels Ltd, a Kalyani Group specialty-steel company, manufactures forging and engineering-quality carbon /alloy-steel long products through the blast-furnace route. Its integrated Ginigera, Karnataka plant supplies critical grades for automotive, bearings, energy, oil & gas, engineering, seamless tube, defence and railway applications, with group forging companies as key customers.[1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Kalyani Steels Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹448 Cr17.9
240%+Up 2%+₹413 Cr12.0
340%+Up 2%+₹324 Cr22.7
440%+Up 0–2%₹1,496 Cr32.8
540%+Up 0–2%₹1,079 Cr12.7
640%+Flat₹827 Cr21.4

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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of Kalyani Steels Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Kalyani Steels Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +64.70%64.70%64.70%64.70%64.70%64.70%64.70%64.70%64.70%64.70%64.70%64.70%
FIIs +2.71%2.54%2.45%2.11%2.66%2.18%1.76%1.86%1.78%1.82%1.77%1.91%
DIIs +9.37%12.18%12.03%12.13%10.83%10.49%10.54%10.74%11.10%11.14%11.48%10.65%
Public +23.21%20.59%20.82%21.06%21.80%22.63%22.98%22.70%22.42%22.33%22.06%22.74%
No. of Shareholders42,13545,77746,15347,17944,04844,42947,21447,08545,85444,84043,55043,964

Financials of Kalyani Steels Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +480480503461492484544443456462484465494
Expenses +387384413382396401430357371371385373387
Operating Profit9396907996831148585929991107
OPM %19%20%18%17%20%17%21%19%19%20%20%20%22%
Other Income +912131214121314147131516
Interest9534564322122
Depreciation15151516161616151514141414
Profit before tax7888847290751078283839791108
Tax %26%25%26%28%25%26%26%26%25%26%27%26%26%
Net Profit +58656352675579616261716879
EPS in Rs13.3614.9714.3311.8115.3012.6918.1613.9714.1614.0516.2715.4918.15

Financials of Kalyani Steels Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,2261,1801,2571,3451,4071,1991,1881,7061,8991,9591,9821,8461,906
Expenses +1,0599459701,1421,1941,0049251,3671,6541,5881,6091,4841,517
Operating Profit168235288203212195263339246371373361389
OPM %14%20%23%15%15%16%22%20%13%19%19%20%20%
Other Income +231317252343465647524951
Interest15121097871328251998
Depreciation31525237384344464961635755
Profit before tax124174239175192168255326225333343344378
Tax %33%35%35%34%31%18%25%25%26%26%26%26%
Net Profit +83114156115132137190243167247253255279
EPS in Rs19.0826.0235.8526.3230.2531.4143.5955.6538.2656.6957.9658.4563.96
Dividend Payout %0%0%14%19%17%16%17%18%26%18%17%17%

Financials of Kalyani Steels Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital22222222222222222222222222
Reserves4545686807638699421,1321,3461,4681,6701,8832,0782,181
Borrowings +219327239169180168438506596438475530
Other Liabilities +390338421325422400328551355297403416384
Total Liabilities1,0841,2551,3611,2781,3301,3641,6502,3562,3512,5842,7452,9903,117
Fixed Assets +442488436437422418382358599734678627702
CWIP13055551115418381429560503
Investments77249234280366177144147146145150143143
Other Assets +5525176865575377631,1131,6961,5871,3241,4871,6601,768
Total Assets1,0841,2551,3611,2781,3301,3641,6502,3562,3512,5842,7452,9903,117

Financials of Kalyani Steels Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +11416115219128625762263-126317383142
Cash from Investing Activity +-107-255-38-77-117-183-226-470153-320-136-106
Cash from Financing Activity +-1997-98-105-181-80160218-3912-252-42
Net Cash Flow-1221610-12-6-311-129-5-6
Free Cash Flow12761391592642234692-237-25835881
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit85%90%84%125%163%157%48%104%-25%107%125%63%

Financials of Kalyani Steels Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days981071351028072778978787998
Inventory Days9790815371747182100666872
Days Payable1311201478815318414017281679696
Cash Conversion Cycle64776967-1-397-197775174
Working Capital Days693127242511-11-1829-12-15-0
ROCE %21%23%27%19%20%19%23%22%13%17%16%15%
26out of 100

Momentum score · price trend

26 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−3.2%57%
Last 6 months−5.4%46%
Last 3 months−5.5%57%

The price is 28.6% below its all-time high of ₹1,173.8 (20 Dec 2024). Stocks more than 20% below their peak have their score halved, so 52 became 26.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Kalyani Steels Ltd: 0.4 × 57 + 0.4 × 46 + 0.2 × 57 = 52, halved to 26 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Kalyani Steels Ltd's management said in earlier quarters

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