Zenith Steel Pipes & Industries LimitedZENITHSTLCorporate

Steel - Medium / Small Latest results: Mar 2026 13 quarters of data

₹5.10

MCap ₹73 Cr · P/E 16.0

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🏭 Metal sector

AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹11 Cr

Sales · Mar 2026

-54.5% YoY

₹-3 Cr

Operating Profit · Mar 2026

-27.0% YoY

-22.9%

OPM % · Mar 2026

-179.3% YoY

₹1 Cr

Net Profit · Mar 2026

-50.0% YoY

₹0.10

EPS · Mar 2026

-50.0% YoY

📝 Zenith Steel Pipes & Industries Limited — results explained

Quarter ended March 2026 (Q4 FY26)

Zenith Steel Pipes & Industries Limited reported revenue of ₹11 crore for the quarter ended March 2026 (Q4 FY26), down 54.5% from ₹25 crore in the same quarter last year, and up 20.1% sequentially over the December 2025 quarter.

Net profit fell 50.0% year-on-year to ₹1 crore, from ₹3 crore. Earnings per share (EPS) came in at ₹0.10.

Operating profit stood at ₹-3 crore — an operating margin (OPM) of -22.9%, compared with -8.2% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Zenith Steel Pipes & Industries Limited posted revenue of ₹54 crore, a decline of 54.9% over FY25, with a net profit of ₹5 crore (up 1963.6% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹54 crore with a net profit of ₹5 crore.

Valuation snapshot

At the current price of ₹5.10, ZENITHSTL has a market capitalisation of ₹73 crore and a trailing P/E of about 16.0.

Within the Steel - Medium / Small industry, it is the 25th-largest of the 56 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 15.64%, domestic institutional investors (DIIs) 0.02%, public shareholders 84.34% of Zenith Steel Pipes & Industries Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹73 Cr

Current Price ?

₹5.1

P/E ?

15.98below ind

Industry P/E ?

20.50

P/B ?

-0.29

P/S ?

1.35

P/FCF ?

-57.14

Enterprise Value ?

₹293 Cr

EV/EBITDA ?

-18.19

PEG ?

0.53

Earnings Yield ?

-6.2%

Dividend Yield ?

0.00%

Profitability & Returns

Sales (TTM) ?

₹54 Cr

OPM ?

-30.0%

Profit after tax (TTM) ?

₹5 Cr

EPS (TTM) ?

₹0.32

ROCE ?

N/A

ROE ?

-1.8%

ROA ?

2.9%

Growth

Sales — latest qtr ?

₹11 Cr

PAT — latest qtr ?

₹1 Cr

YoY qtr sales growth ?

-54.5%

YoY qtr profit growth ?

-50.0%

Sales growth (3y) ?

-31%

Sales growth (5y) ?

-7%

Profit growth (3y) ?

30%

Profit growth (5y) ?

Financial Health

Debt ?

₹220 Cr

Debt to Equity ?

-0.88

Interest Coverage ?

-7.2

Current Ratio ?

N/A

Ownership

Promoter holding ?

15.64%

Change in promoter holding ?

0.00%

Pledged percentage ?

N/A

Market

Return 3 months ?

-7.4%

Return 6 months ?

-28.3%

🗓️ Quarterly results (13 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	YoY %	QoQ %
Sales	31	24	28	46	43	28	30	36	25	19	14	9	11	-54.5%	+20.1%
Operating Profit	2	-1	-7	1	7	-3	-1	0	-2	-4	-5	-4	-3	-27.0%	+28.5%
Other Income	-0	0	0	0	4	2	1	1	6	7	7	6	5	-14.7%	-18.6%
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1	-3.2%	-6.3%
Depreciation	1	1	1	1	1	0	0	0	0	0	0	0	0	-2.0%	-2.0%
Profit Before Tax	0	-2	-8	-1	10	-2	-0	-0	3	1	1	1	1	-50.0%	-5.4%
Net Profit	0	-2	-8	-1	10	-2	-0	-0	3	1	1	1	1	-50.0%	-5.4%
EPS	0.02	-0.17	-0.53	-0.05	0.70	-0.13	-0.03	-0.01	0.20	0.07	0.05	0.10	0.10	-50.0%	+0.0%
OPM %	7.2%	-4.4%	-23.5%	1.3%	15.6%	-9.3%	-1.9%	0.0%	-8.2%	-23.5%	-38.7%	-38.5%	-22.9%	-179.3%	+40.5%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹119 Cr	₹54 Cr	₹54 Cr	-54.9%
Operating Profit	₹-5 Cr	₹-16 Cr	₹-16 Cr	-206.5%
OPM %	-4.41%	-29.99%	-29.99%	-580.0%
NPM %	0.18%	8.46%	8.46%	+4600.0%
Other Income	₹10 Cr	₹25 Cr	₹25 Cr	+152.7%
Depreciation	₹2 Cr	₹2 Cr	₹2 Cr	-1.0%
Interest	₹2 Cr	₹2 Cr	₹2 Cr	+0.4%
EBIT	₹-7 Cr	₹-18 Cr	₹-18 Cr	-150.3%
PBT	₹0 Cr	₹5 Cr	₹5 Cr	+1869.6%
Tax	—	—	—	—
Net Profit	₹0 Cr	₹5 Cr	₹5 Cr	+1963.6%
EPS	₹0.03	₹0.32	₹0.32	+966.7%
Material Cost	—	—	—	—
Employee Cost	—	—	—	—
Extraordinary Items	—	—	—	—

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	142.28	142.28	142.28	142.28	+0.0%
Reserves	-398.40	-399.14	-399.03	-391.21	+2.0%
Borrowings	219.35	215.15	215.19	220.19	+2.3%
Other Liabilities	205.67	223.68	200.11	182.68	-8.7%
Total Liabilities	168.90	181.97	158.55	153.94	-2.9%
Fixed Assets	44.64	43.61	41.80	40.03	-4.2%
CWIP	0.99	0.82	1.20	1.29	+7.5%
Investments	0.00	0.00	0.00	0.00	—
Other Assets	123.27	137.54	115.55	112.62	-2.5%
Total Assets	168.90	181.97	158.55	153.94	-2.9%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	17.90	4.74	6.25	-1.04	-116.6%
Cash from Investing Activity	-3.24	-2.47	-1.28	-1.19	+7.0%
Cash from Financing Activity	-11.34	-7.12	-2.44	0.42	+117.2%
Net Cash Flow	3.32	-4.84	2.53	-1.81	-171.5%
Free Cash Flow	14.22	3.35	5.73	-1.27	-122.2%
CFO/OP	-135%	-2,456%	-119%	6%	+105.0%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	104.22	150.57	173.35	390.57	+125.3%
Inventory Days	62.38	90.80	52.21	72.59	+39.0%
Days Payable	277.39	408.76	603.80	957.03	+58.5%
Cash Conversion Cycle	-110.79	-167.38	-378.24	-493.87	-30.6%
Working Capital Days	-697.44	-755.38	-913.77	-1,872.66	-104.9%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	% Chg
Promoters	15.64%	15.64%	15.64%	15.64%	15.64%	+0.0%
DIIs	0.02%	0.02%	0.02%	0.02%	0.02%	+0.0%
Public	84.35%	84.34%	84.34%	84.35%	84.34%	-0.0%
No. of Shareholders	83,248	81,560	80,093	79,750	79,262	-0.6%

⚖️ Peer comparison

Industry: Steel - Medium / Small · top 25 of 56 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	NSLNISP NMDC Steel	₹42.65	12,499	135.8	13,939	84	10.8%	0.6%	60.4%	102.5%	8.8%	94.3%
2	MAHSEAMLES Maharashtra Seamless	₹713.65	9,563	13.0	4,620	737	15.0%	16.0%	-12.0%	-9.8%	-4.7%	15.7%
3	SUNFLAG Sunflag Iron	₹443.60	7,995	38.8	3,995	206	11.9%	5.1%	11.4%	25.0%	5.5%	4.8%
4	AEROFLEX Aeroflex Industries	₹565.00	7,477	109.5	503	67	23.4%	13.4%	17.3%	5.6%	73.1%	168.5%
5	TIIL Technocraft Industries	₹3,180.20	7,210	21.2	2,931	349	18.2%	11.9%	6.3%	11.6%	27.2%	67.3%
6	MANINDS Man Industries	₹865.65	6,493	31.5	3,875	204	13.7%	5.3%	1.7%	11.4%	41.9%	122.4%
7	GOODLUCK Goodluck India	₹526.15	5,247	8.7	4,404	210	10.0%	4.8%	4.2%	10.1%	30.9%	67.4%
8	BANSALWIRE Bansal Wire	₹308.10	4,823	9.0	4,388	531	8.5%	12.1%	18.6%	276.0%	24.4%	-47.9%
9	DEEDEV DEE Development	₹634.65	4,775	54.6	1,213	81	16.9%	6.6%	38.1%	78.8%	31.6%	22.4%
10	KSL Kalyani Steels	₹957.20	4,189	15.8	1,867	264	19.7%	14.2%	-6.9%	0.6%	4.9%	10.6%
11	VENUSPIPES Venus Pipes	₹1,962.30	4,065	39.1	1,211	104	16.3%	8.6%	21.7%	9.2%	16.1%	5.6%
12	VSSL Vardhman Special	₹398.45	3,852	26.9	1,807	144	10.6%	8.0%	-0.5%	31.9%	12.0%	105.9%
13	JTLIND JTL INDUSTRIES	₹87.38	3,435	28.8	2,314	122	8.2%	5.3%	11.5%	4.4%	32.7%	113.7%
14	RATNAVEER Ratnaveer Precision	₹343.70	2,885	42.6	1,119	67	18.2%	6.0%	19.8%	36.2%	18.9%	20.0%
15	INTERARCH Interarch Building	₹1,700.60	2,860	20.7	1,639	139	11.5%	8.5%	7.3%	28.6%	20.6%	0.9%
16	PENIND Pennar Industries	₹187.68	2,533	17.8	3,645	142	12.4%	3.9%	12.2%	15.7%	2.9%	10.7%
17	RAJRATAN Rajratan Global	₹457.40	2,322	29.1	1,228	80	12.3%	6.5%	23.8%	21.2%	28.9%	64.0%
18	PRAKASH Prakash Industries	₹117.24	2,100	6.7	3,474	313	15.0%	9.0%	-13.3%	-6.2%	-0.5%	-21.7%
19	MSPL MSP Steel	₹33.33	1,889	49.7	2,958	38	6.2%	1.3%	-2.1%	217.0%	16.2%	22.1%
20	MAHASTEEL Mahamaya Steel	₹1,115.00	1,832	183.1	943	10	2.6%	1.1%	10.1%	26.3%	29.3%	22.6%
21	HITECH Hi-Tech Pipes	₹75.00	1,520	20.3	4,821	75	3.8%	1.6%	36.9%	4.2%	78.5%	-4.2%
22	MANAKCOAT Manaksia Coated	₹130.80	1,395	32.3	897	41	9.4%	4.5%	13.2%	164.5%	4.9%	0.7%
23	STEELXIND STEEL EXCHANGE	₹10.36	1,321	40.3	1,029	31	13.0%	3.1%	-7.4%	2.6%	-10.1%	46.9%
24	MWL Mangalam Worldwide	₹42.77	1,270	22.9	1,292	55	9.5%	4.2%	13.9%	72.1%	13.7%	25.6%
25	ZENITHSTL Zenith Steel	₹5.38	77	16.8	54	5	-30.0%	8.5%	-54.9%	1963.6%	-54.5%	-50.0%

❓ Frequently asked questions

What was Zenith Steel Pipes & Industries Limited's revenue in Q4 FY26?

What was Zenith Steel Pipes & Industries Limited's net profit in Q4 FY26?