Ashoka Metcast Limited (ASHOKAMET)
₹15.43 -1.41% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Ashoka Metcast's revenue was ₹4.1 Cr (-25.3% year on year, -60.7% on the previous quarter), and net profit ₹3.2 Cr (+186.2% year on year); the operating margin was -18.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹4.1 | -25.3% | -60.7% |
| Operating profit | ₹-0.7 | to loss | to loss |
| Net profit | ₹3.2 | +186.2% | +45.7% |
| EPS (₹) | 1.29 | +186.7% | +44.9% |
| Operating margin | -18.1% | — | — |
ASHOKAMET delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 33.18% of the ASHOKAMET shares traded on NSE were taken to delivery, against the stock's own 20-session average of 63.89%. That is lower than usual for this stock. Turnover was only ₹39 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 69.1% · 63.3% · 86.9% · 67.1% · 33.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Ashoka Metcast Limited announced shareholder approval at its 17th AGM on September 17, 2026, for the appointment of Mrs. Jhanvi Vikas Sethi as a Non-Executive Independent Director. Her appointment is effective from August 12, 2026, for a 5-year tenure ending August 11, 2031. Mrs. Sethi brings over 20 years of experience in the stock market and financial services sector, with concurrent directorships in Rhetan TMT, Ashnisha Industries, and Gujarat Natural Resources. This constitutes a routine board composition update with no immediate financial impact on the company's Rs 26 Cr TTM revenue base.
- Shareholders approved the appointment of Mrs. Jhanvi Vikas Sethi as Non-Executive Independent Director at the 17th AGM on September 17, 2026
- Term of appointment is for 5 years, effective from August 12, 2026, to August 11, 2031
- Appointee possesses over 20 years of professional experience in financial markets and capital market operations
- She holds independent directorships in 3 other listed entities: Rhetan TMT, Ashnisha Industries, and Gujarat Natural Resources
Ashoka Metcast Limited held its 17th Annual General Meeting on September 17, 2026. The meeting discussed the adoption of FY26 financial statements, in which standalone PAT stood at Rs 50.20 Lakhs (down from Rs 239.01 Lakhs in FY25) and consolidated PAT reached Rs 1,079.98 Lakhs (up from Rs 548.52 Lakhs). Key resolutions put to vote included enhancing promoter financial assistance limits with an option to convert debt into equity, along with multiple material related-party transactions. The scrutinizer's report and formal voting results will be declared within two working days.
- Standalone FY26 Profit after Tax reported at Rs 50.20 Lakhs compared to Rs 239.01 Lakhs in FY25
- Consolidated FY26 Profit after Tax reached Rs 1,079.98 Lakhs vs Rs 548.52 Lakhs in FY25
- Resolution tabled to approve conversion of promoter financial assistance/loans into equity shares
- Resolutions tabled for material related party transactions with Rhetan TMT, Ashnisha Industries, and others
Ashoka Metcast Limited held its 17th Annual General Meeting on September 17, 2026. The company reviewed its FY26 performance, reporting standalone PAT of Rs. 50.20 Lakhs (down from Rs. 239.01 Lakhs) and consolidated PAT of Rs. 1,079.98 Lakhs (up from Rs. 548.52 Lakhs). Key resolutions put to vote included enhancing limits for promoter financial assistance with loan-to-equity conversion terms and multiple material related-party transactions with group entities. Scrutinizer voting results will be declared within two working days.
- 17th AGM conducted on September 17, 2026 via video conferencing
- Consolidated FY26 Profit after Tax stood at Rs. 1,079.98 Lakhs vs Rs. 548.52 Lakhs in FY25
- Standalone FY26 Profit after Tax reported at Rs. 50.20 Lakhs vs Rs. 239.01 Lakhs in FY25
- Shareholder approval sought for enhancing promoter loan limits and conversion into equity shares
- Material related party transactions tabled for Rhetan TMT, Ashnisha Industries, and 3 other entities
Ashoka Metcast Limited has submitted a response to price movement queries issued by BSE and NSE on 15th September, 2026. The company stated that it has complied with all disclosure requirements under Regulation 30 of the SEBI LODR Regulations, 2015. Management clarified that there is no pending announcement or undisclosed event that could impact the company's share price. Ashoka Metcast confirmed that recent price movements are purely market-driven.
- Response submitted on 16th September, 2026 following BSE query dated 15th September, 2026
- Company confirmed compliance under Regulation 30 of SEBI LODR Regulations, 2015
- Management affirmed 0 undisclosed events or impending announcements having a bearing on price behavior
- Stated that share price fluctuations remain purely market-driven
Ashoka Metcast Limited has dispatched letters containing web links to the FY 2025-26 Annual Report to shareholders whose email addresses are not registered. The company's 17th Annual General Meeting (AGM) is scheduled for Thursday, September 17, 2026, at 3:30 PM IST via Video Conferencing. The cut-off date to determine e-voting eligibility has been set for Thursday, September 10, 2026. The remote e-voting window will open on September 14, 2026, and conclude on September 16, 2026.
- 17th AGM scheduled for Thursday, September 17, 2026, at 3:30 PM IST via Video Conferencing
- Cut-off date for e-voting eligibility set for Thursday, September 10, 2026
- Remote e-voting window runs from September 14, 2026 (9:00 AM IST) to September 16, 2026 (5:00 PM IST)
- Annual Report FY25-26 made available for download via company and e-voting web links
Ashoka Metcast has issued the notice for its 17th Annual General Meeting scheduled for 17th September, 2026. Key agenda items include a special resolution to enhance the financial assistance limit from promoters from ₹25 Crores to ₹50 Crores, along with an enabling clause allowing conversion of debt into equity shares. At ₹50 Crores, the proposed limit is ~143% of the company's current market cap of ₹35 Crores and ~192% of TTM revenue (₹26 Crores). Other ordinary and special business include adopting FY26 accounts and regularizing Mrs. Jhanvi Vikas Sethi as an Independent Director for 5 years.
- AGM scheduled for Thursday, 17th September, 2026 at 3:30 PM IST via Video Conferencing.
- Special resolution to enhance promoter borrowing limit from ₹25 Crores to up to ₹50 Crores.
- Enabling provision under Section 62(3) permitting conversion of promoter loans into fully paid-up equity shares.
- Appointment of Mrs. Jhanvi Vikas Sethi as Non-Executive Independent Director for a 5-year term (12th August, 2026 to 11th August, 2031).
Ashoka Metcast Limited has announced its 17th Annual General Meeting (AGM) scheduled for September 17, 2026. The company has fixed September 10, 2026, as the record date to determine shareholder eligibility for remote e-voting and participation in the meeting. The register of members will remain closed from September 11 to September 17, 2026. This is a standard administrative procedure for the Rs 35 crore market cap company.
- 17th Annual General Meeting scheduled for September 17, 2026, at 3:30 P.M. IST
- Record date for e-voting eligibility fixed as September 10, 2026
- Book closure period set from September 11 to September 17, 2026 (both days inclusive)
- Remote e-voting window open from September 14 (9:00 A.M.) to September 16 (5:00 P.M.), 2026
Ashoka Metcast Limited has shifted its registered office within Ahmedabad, Gujarat, effective August 12, 2026. The Board of Directors approved the move from Mithakhali to a new location in Ambli during a meeting held on the same day. Additionally, the company has replaced its existing landline number with a new mobile contact number. This is a purely administrative update for the Rs 35 Cr market cap company and has no impact on its trading operations or financial performance.
- Registered office shifted from Mithakhali to Ambli, Ahmedabad on August 12, 2026
- Board meeting held on August 12, 2026, starting at 5:30 P.M. to approve the change
- New contact number +91 63580 28106 replaces the discontinued landline 079-26463226
- Company maintains a TTM revenue of Rs 28 Cr and a market cap of Rs 35 Cr
Ashoka Metcast Limited has appointed Mr. Chandrakant Natubhai Chauhan as its Chief Financial Officer (CFO) effective August 12, 2026. The company, which has a market capitalization of ₹35 Cr, operates in the steel trading segment and reported a TTM revenue of ₹28 Cr. The new CFO is a commerce graduate with a background in marketing and business operations, tasked with supporting the company's 14.42% targeted growth rate. This appointment follows a period where the company achieved a TTM PAT of ₹11 Cr despite significant revenue volatility in the steel sector.
- Appointment of Mr. Chandrakant Natubhai Chauhan as CFO effective August 12, 2026
- Company reported TTM revenue of ₹28 Cr and a high TTM PAT of ₹11 Cr
- The appointee is a Commerce Graduate with experience in marketing and business activities
- Board meeting for the appointment concluded at 7:15 PM on August 12, 2026
Ashoka Metcast Limited has appointed Mrs. Jhanvi Vikas Sethi as an Additional (Independent) Director effective August 12, 2026. Mrs. Sethi brings over 20 years of experience in the stock and finance sectors, with expertise in investment management and capital market operations. The appointment is for a term of up to 5 years, subject to shareholder approval at the upcoming Annual General Meeting. This addition to the board comes as the company manages a small-cap operation with a market capitalization of ₹35 Cr and TTM revenue of ₹28 Cr.
- Appointment of Mrs. Jhanvi Vikas Sethi for a fixed term of 5 years
- Appointee brings over 20 years of professional experience in financial markets and capital market operations
- Effective date of appointment is August 12, 2026
- Company maintains a TTM revenue of ₹28 Cr and a P/E ratio of 3.2
Ashoka Metcast reported a consolidated Profit Before Tax (PBT) of ₹3.38 Cr for Q1 FY27, a significant jump from ₹1.12 Cr in Q1 FY26, despite a 25% decline in consolidated revenue to ₹4.07 Cr. A major corporate action was approved involving the conversion of promoter loans up to ₹50 Cr into equity, which is highly material given the company's current market cap of ₹35 Cr. The board also appointed Mr. Chandrakant Natubhai Chauhan as the new CFO and shifted the registered office within Ahmedabad. Shareholders will vote on these proposals at the AGM scheduled for September 17, 2026.
- Consolidated Profit Before Tax increased to ₹3.38 Cr in Q1 FY27 from ₹1.12 Cr in Q1 FY26
- Consolidated Revenue from operations declined 25.3% YoY to ₹4.07 Cr from ₹5.45 Cr
- Approved conversion of promoter loans into equity shares up to a limit of ₹50 Cr
- Appointed Mr. Chandrakant Natubhai Chauhan as Chief Financial Officer effective August 12, 2026
- 17th Annual General Meeting (AGM) scheduled for September 17, 2026
Ashoka Metcast reported a consolidated Profit Before Tax (PBT) of ₹3.38 Cr for Q1 FY27, a 200% increase from ₹1.13 Cr in the year-ago period, despite consolidated revenue falling to ₹4.07 Cr from ₹5.45 Cr. A major corporate action was approved involving the conversion of promoter loans up to ₹50 Cr into equity shares, which is highly material given the company's current market cap of ₹35 Cr. The board also appointed Mr. Chandrakant Natubhai Chauhan as CFO and Mrs. Jhanvi Vikas Sethi as an Independent Director. The 17th AGM is scheduled for September 17, 2026, to finalize these approvals.
- Consolidated Profit Before Tax increased to ₹3.38 Cr in Q1 FY27 from ₹1.13 Cr in Q1 FY26
- Board approved conversion of promoter loans up to ₹50 Cr into equity, exceeding the current market cap of ₹35 Cr
- Consolidated revenue for the quarter ended June 2026 stood at ₹4.07 Cr compared to ₹5.45 Cr YoY
- Appointment of Chandrakant Natubhai Chauhan as Chief Financial Officer effective August 12, 2026
- 17th Annual General Meeting (AGM) to be held on September 17, 2026, via video conferencing
Deepti Ghanshyam Gavali has resigned from the position of Independent Director at Ashoka Metcast Limited effective August 7, 2026, citing personal reasons. The director confirmed that there are no other material reasons for the resignation. Ashoka Metcast operates in steel and trading segments with a market cap of Rs 33 Cr and TTM revenue of Rs 26 Cr. The board will be required to maintain regulatory board composition requirements under SEBI LODR.
- Deepti Ghanshyam Gavali submitted resignation as Independent Director on August 7, 2026
- Resignation is effective immediately from August 7, 2026
- Confirmed no other material reasons exist pursuant to Regulation 30 of SEBI LODR Regulations
Ashoka Metcast Limited has announced the resignation of Mrs. Deepti Ghanshyam Gavali from her position as an Independent Director, effective August 07, 2026. The resignation is attributed to personal reasons, with the director confirming there are no other material reasons for her departure. This change occurs in a small-cap company with a market capitalization of ₹36 Cr and TTM revenue of ₹28 Cr. The outgoing director held no other directorships in listed entities.
- Resignation of Independent Director Mrs. Deepti Ghanshyam Gavali effective August 07, 2026
- Director confirmed no other material reasons for resignation beyond personal grounds
- The resigning director held NIL directorships or committee memberships in other listed entities
- Company maintains a small-cap profile with a market capitalization of ₹36 Cr
- TTM Revenue for the period ending March 2026 stood at ₹27.7 Cr
Ashoka Metcast Limited has appointed Mr. Ankur Rastogi as the Company Secretary and Compliance Officer effective July 29, 2026. Mr. Rastogi is a qualified professional with over 8 years of experience in Company Law, SEBI regulations, and corporate governance. This appointment fills a critical Key Managerial Personnel (KMP) role for the small-cap company (Market Cap: ₹36 Cr). The move is a routine administrative requirement to ensure regulatory compliance.
- Appointment of Mr. Ankur Rastogi as CS and Compliance Officer effective July 29, 2026
- Appointee brings over 8 years of experience in legal and secretarial functions
- Board meeting conducted for 40 minutes from 5:30 PM to 6:10 PM
- Mr. Rastogi holds zero shares in the company as of the appointment date
Financial Performance
Revenue Growth by Segment
Consolidated revenue for the Steel Trading segment declined by 56.1% YoY in H1 FY26, falling to INR 1,066.58 Lakhs from INR 2,429.41 Lakhs. The Trading of Goods segment saw a 100% decline in revenue, dropping from INR 129.70 Lakhs in H1 FY25 to zero in H1 FY26. Overall consolidated revenue for FY25 fell 41.19% YoY to INR 3,896.26 Lakhs.
Geographic Revenue Split
100% of the company's revenue is generated within India, with operations primarily concentrated in Ahmedabad, Gujarat, where the registered office and core trading activities are based.
Profitability Margins
Consolidated Net Profit Margin improved from 7.24% in FY24 to 14.08% in FY25. Standalone Net Profit Margin was reported at 1.33% for FY25, though standalone PAT of INR 239.01 Lakhs exceeded operational revenue of INR 179.78 Lakhs due to a profit of INR 268 Lakhs from the sale of investments.
EBITDA Margin
Consolidated Operating Profit Margin increased significantly by 106.3% YoY, rising from 9.54% in FY24 to 19.68% in FY25, driven by improved cost efficiency and a better product mix.
Capital Expenditure
Historical CAPEX for FY25 was INR 0.15 Cr (INR 15 Lakhs). For H1 FY26, the company made a minimal investment of INR 0.0035 Cr (INR 0.35 Lakhs) in Property, Plant, and Equipment.
Credit Rating & Borrowing
Not disclosed in available documents. However, the interest coverage ratio improved from -19.74 in FY24 to 5.34 in FY25, indicating a stronger ability to meet interest obligations despite a consolidated debt of INR 30.88 Cr.
Operational Drivers
Raw Materials
TMT bars and various steel products are the primary goods traded, accounting for 100% of consolidated revenue in H1 FY26.
Import Sources
Steel products are sourced domestically within India, primarily from the state of Gujarat.
Key Suppliers
The company primarily sources its trading inventory from its own manufacturing subsidiary and other domestic steel producers in the Western region.
Capacity Expansion
Current manufacturing capacity of the subsidiary is not disclosed; however, the company is focusing on market expansion in the steel trading segment rather than immediate physical capacity increases.
Raw Material Costs
Trading purchase costs are the primary expense; the Steel Trading segment achieved a result margin of 39.5% in H1 FY26 with a segment profit of INR 421.86 Lakhs on revenue of INR 1,066.58 Lakhs.
Manufacturing Efficiency
Not disclosed in available documents; however, the company leverages its manufacturing subsidiary to ensure supply reliability for its trading arm.
Logistics & Distribution
Not disclosed in available documents; however, the appointment of a new director with 5 years of experience in transport and logistics suggests a strategic focus on improving distribution efficiency.
Strategic Growth
Expected Growth Rate
14.42%
Growth Strategy
Growth will be achieved through market expansion in the steel trading segment, leveraging the manufacturing subsidiary for consistent supply, and diversifying into chemical trading. The company is also seeking strategic collaborations to enhance its market presence in infrastructure projects.
Products & Services
TMT bars, steel coils, and other steel-related products sold primarily to the construction and infrastructure industries.
Brand Portfolio
Ashoka Metcast Limited.
New Products/Services
Planned diversification into chemical trading is expected to provide a new revenue stream, though specific contribution percentages are not yet disclosed.
Market Expansion
The company is targeting expansion in the steel trading segment across India, focusing on high-growth infrastructure and real estate hubs.
Strategic Alliances
The company is actively exploring strategic collaborations and potential partnerships to strengthen its position in the steel and chemical trading markets.
External Factors
Industry Trends
The steel trading industry is benefiting from sustained demand for TMT bars in Indian infrastructure projects, though it faces a shift toward more organized, integrated players who can offer better supply chain reliability.
Competitive Landscape
The company operates in a highly fragmented market, competing with both large organized steel distributors and numerous local unorganized traders in Gujarat.
Competitive Moat
The company's moat is its integration with a manufacturing subsidiary, providing a reliable supply source. This advantage is sustainable as long as the subsidiary maintains cost-competitive production.
Macro Economic Sensitivity
Highly sensitive to GDP growth and interest rates; a 1% increase in interest rates would impact the interest cost on the INR 30.88 Cr consolidated debt, potentially reducing PBT by approximately 7-8%.
Consumer Behavior
There is an increasing trend among real estate developers toward sourcing certified and branded TMT bars to ensure structural integrity, favoring organized players like Ashoka Metcast.
Regulatory & Governance
Industry Regulations
Operations are strictly governed by the Companies Act 2013, SEBI (LODR) Regulations 2015, and FEMA guidelines regarding any potential foreign investment or technical collaborations.
Taxation Policy Impact
The company follows standard Indian corporate tax norms; standalone tax expense for FY25 was INR 31.08 Lakhs on a PBT of INR 270.09 Lakhs, reflecting an effective tax rate of approximately 11.5%.
Legal Contingencies
The company reports zero pending prosecutions, fines, or penalties imposed by any regulatory authority, including SEBI or the Ministry of Corporate Affairs, for the financial year ended March 31, 2025.
Risk Analysis
Key Uncertainties
Steel price volatility poses a risk to the valuation of the INR 159.08 Cr total consolidated assets, particularly given the low inventory turnover ratio of 0.002.
Geographic Concentration Risk
100% of revenue is concentrated in the Indian market, with a heavy reliance on the economic health of the Western region (Gujarat).
Third Party Dependencies
High dependency on the manufacturing subsidiary for product supply; any operational disruption at the subsidiary level would halt the trading segment's revenue.
Technology Obsolescence Risk
Low risk of technology obsolescence in steel trading; however, the company is updating its internal control systems to align with digital regulatory requirements.
Credit & Counterparty Risk
The debtors turnover ratio of 0.004 in FY25 indicates extremely slow collection cycles, posing a significant risk to working capital liquidity and potential bad debts.
