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Swing Capital

Zenith Steel Pipes & Industries Ltd

NSE: ZENITHSTL BSE: 531845Metal

Incorporated 1960, Zenith Steel Pipes & Industries Ltd does manufacturing and selling of ERW And SAW Pipes[1]

₹5.95
52W: ₹4.39 — ₹10.3
PE 14.9 · Book ₹17.5 · -66% vs book
Market Cap₹85.6 Cr
Stock P/E14.9Price to Earnings
ROCE0%Return on Capital
ROE0%Return on Equity
Div. Yield0%Face Value ₹10

Weaknesses

  • −Promoter holding is low: 15.6%
  • −Earnings include an other income of Rs.25.9 Cr.
  • −Company has high debtors of 163 days.

Shareholding Pattern

Promoters15.64%
FIIs0%
DIIs0.02%
Public84.35%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters15.64%15.64%15.64%15.64%15.64%15.64%15.64%15.64%
FIIs0%0%0%0%0%0%0%0%
DIIs0.08%0.08%0.08%0.02%▼0.10.02%0.02%0.02%0.02%
Public84.29%84.29%84.29%84.34%▲0.084.35%▲0.084.34%▼0.084.34%84.35%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales27.7445.8443.0628.530.0735.6924.8218.9213.768.77
Expenses28.4245.2942.131.1530.6435.6826.8623.3719.3412.64
Operating Profit-0.680.550.96-2.65-0.570.01-2.04-4.45-5.58-3.87
OPM %-2.45%1.2%2.23%-9.3%-1.9%0.03%-8.22%-23.52%-40.55%-44.13%
Net Profit-1.69-0.744.12-1.92-0.44-0.22.780.960.571.22
EPS ₹-0.12-0.050.29-0.13-0.03-0.010.20.070.040.09

AI Insights

Revenue Trend

TTM revenue at ₹66.27Cr, down 44.4% YoY. OPM at -24.05%.

Debt Position

Borrowings at ₹210.87Cr. Debt-to-equity ratio: N/Ax. High leverage — monitor closely.

Capex Cycle

CWIP at ₹1.29Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.02% (-0.27pp change). FIIs: 0% (+0.00pp change). Promoters hold 15.64%.

Margin & Efficiency

ROCE improving from -29.67% (Mar 2014) to 0% (Mar 2025). Working capital days: -907.49.

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