Earthstahl & Alloys Limited

BSE: EARTH · Iron & Steel Products

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52W Range₹11 – ₹27

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Snapshot

Unlock Earthstahl & Alloys Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Earthstahl & Alloys Limited is an Indian manufacturer specialising in cast iron lumps, steel billets, and pig iron. The company serves a diverse client base, including automotive and agricultural machinery foundries, from its headquarters in Raipur, Chhattisgarh.

Business Model

The company generates revenue through the production and sale of metallurgical products, leveraging a vertically integrated supply chain to manage costs. It benefits from its strategic proximity to mineral-rich regions, ensuring a consistent supply of raw materials like iron ore and coal.

Management Commentary

Management is focused on enhancing operational efficiency and expanding production capacity to strengthen the company's competitive standing in the secondary steel and casting sectors.

Growth Outlook

Growth is driven by the expansion of production capacity and the optimisation of manufacturing processes to meet demand from the foundry industry. The company aims to leverage its recent IPO proceeds to support working capital requirements and scale operations.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of iron ore and coal can significantly impact the company's production costs and profit margins.
  • Cyclical Industry Demand. The demand for cast iron and steel products is highly dependent on the cyclical performance of the automotive and industrial manufacturing sectors.
  • Regulatory and Environmental Compliance. The steel manufacturing industry is subject to stringent environmental regulations which may necessitate ongoing capital expenditure for compliance.
  • Operational Concentration. Reliance on a specific manufacturing facility in Raipur exposes the company to risks associated with localized disruptions or supply chain bottlenecks.

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Peers · Iron & Steel Products

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Earthstahl & Alloys LimitedEARTH
₹15 Cr———-4.2%——-43.5%
Azad India Mobility LimitedAZADIND
₹441 Cr4297.501102.62—1.0%0.2%0.2%-43.2%
ManaksiaMANAKSIA
₹438 Cr6.214.574.3%11.4%9.9%13.1%-12.0%
Modern MalleableMODMA
₹397 Cr16.2711.84129.5%19.3%14.5%18.8%—
SurajSURAJLTD
₹362 Cr42.8118.12-15.2%12.0%6.1%12.6%-39.7%
Shah MetacorpSHAH
₹321 Cr21.6423.4048.8%10.1%5.6%5.4%-19.2%

As of Mar 2026

Financials