---
title: "Anupama Steel Ltd (513203) — Share Price, Financials & Analysis"
symbol: "513203"
company: "Anupama Steel Ltd"
canonical: "https://tapetide.com/stocks/513203"
bse_code: "513203"
generated_at: "2026-10-13T10:59:36.985Z"
---

# Anupama Steel Ltd (513203)

Canonical page: https://tapetide.com/stocks/513203

## Company

- **BSE Code:** 513203
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Company is almost debt free.

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -15.9% over past five years.
- Company has a low return on equity of -22.1% over last 3 years.
- Earnings include an other income of Rs.6.71 Cr.
- Company's cost of borrowing seems high
- Working capital days have increased from 6.65 days to 68.5 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 76% | — | — |
| revenue growth | -82% | -39% | -16% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 56.27 | 50.05 | 70.67 | 83.14 | 255.6 | 308.5 | 250.44 | 307.93 | 314.78 | 275 | 235.71 | 247.18 |
| Expenses | 49.31 | 44.97 | 61.19 | 76.87 | 230.19 | 279.54 | 231.03 | 284.66 | 290.74 | 254.32 | 219.94 | 235.17 |
| Operating Profit | 6.96 | 5.08 | 9.48 | 6.27 | 25.41 | 28.96 | 19.41 | 23.27 | 24.04 | 20.68 | 15.77 | 12.01 |
| OPM % | 12.37 | 10.15 | 13.41 | 7.54 | 9.94 | 9.39 | 7.75 | 7.56 | 7.64 | 7.52 | 6.69 | 4.86 |
| Other Income | 0.09 | 0.11 | 0.92 | 0.87 | 0.33 | 0.99 | 0.64 | 0.28 | 3.36 | 3 | 5.35 | 0.57 |
| Interest | 0.93 | 1.08 | 0.65 | 0.74 | 1.47 | 2.23 | 3.7 | 3.13 | 1.93 | 2.44 | 2.51 | 2.43 |
| Depreciation | 1.11 | 1.07 | 1.46 | 1.32 | 8.46 | 9.93 | 10.58 | 11.78 | 12.25 | 12.12 | 14.5 | 15.21 |
| Profit before tax | 5.01 | 3.04 | 8.29 | 5.08 | 15.81 | 17.79 | 5.77 | 8.64 | 13.22 | 9.12 | 4.11 | -5.06 |
| Tax % | 37.33 | 34.54 | 34.5 | 37.8 | 56.36 | 21.98 | 31.54 | 26.16 | 25.26 | 10.53 | 66.42 | -6.13 |
| Net Profit | 3.15 | 1.99 | 5.43 | 3.17 | 6.9 | 13.88 | 3.95 | 6.39 | 9.87 | 8.16 | 1.39 | -4.75 |
| EPS in Rs | 1.05 | 0.67 | 3.62 | 2.11 | 1.71 | 3.02 | 1.01 | 1.41 | 2.22 | 1.85 | 0.37 | -0.74 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 34.34 | 59.4 | 62 | 98.84 | 117.8 | 110.88 | 145.82 | 26.1 |
| Expenses | 33.73 | 57.91 | 58.67 | 98.25 | 115.32 | 112.46 | 168.48 | 24 |
| Operating Profit | 0.61 | 1.49 | 3.33 | 0.59 | 2.48 | -1.58 | -22.66 | 2.1 |
| OPM % | 1.78 | 2.51 | 5.37 | 0.6 | 2.11 | -1.42 | -15.54 | 8.05 |
| Other Income | 1.62 | 1.63 | 1.08 | 1.32 | -0.6 | 2.06 | 23 | 6.71 |
| Interest | 0.71 | 1.35 | 1.15 | 0 | 0 | 0 | 0 | 8.32 |
| Depreciation | 0.08 | 0.07 | 0.07 | 0.09 | 0.14 | 0.14 | 0.07 | 0.07 |
| Profit before tax | 1.44 | 1.7 | 3.19 | 1.82 | 1.74 | 0.34 | 0.27 | 0.42 |
| Tax % | 8.33 | 22.35 | 40.13 | 34.62 | 33.33 | 44.12 | 81.48 | 57.14 |
| Net Profit | 1.32 | 1.32 | 1.92 | 1.18 | 1.16 | 0.18 | 0.06 | 0.18 |
| EPS in Rs | 6.6 | 6.6 | 9.6 | 5.9 | 5.8 | 0.9 | 0.3 | 0.9 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 5.69 | 7 | 11.64 | 12.82 | 13.98 | 14.16 | 14.22 | 14.39 |
| Borrowings | 11.51 | 5.11 | 57.33 | 102.91 | 103.05 | 0.68 | 52.41 | 0.04 |
| Other Liabilities | 4.83 | 2.57 | 3.36 | 2.37 | 5.17 | 1.85 | 106.37 | 0.74 |
| Total Liabilities | 24.03 | 16.68 | 74.33 | 120.1 | 124.2 | 18.69 | 175 | 17.17 |
| Fixed Assets | 0.48 | 0.41 | 0.5 | 0.65 | 0.94 | 1.03 | 0.77 | 0.7 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 15.36 | 7.87 | 1.1 | 1.1 | 1.1 | 1.1 | 0.11 | 0 |
| Other Assets | 8.19 | 8.4 | 72.73 | 118.35 | 122.16 | 16.56 | 174.12 | 16.47 |
| Total Assets | 24.03 | 16.68 | 74.33 | 120.1 | 124.2 | 18.69 | 175 | 17.17 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | — | -12.39 | -26.38 | 2.11 | 92.07 | 16.26 | -18.79 |
| Cash from Investing Activity | — | — | 0.89 | 1.07 | 0.35 | 3.12 | 4.8 | 1.54 |
| Cash from Financing Activity | — | — | 10.4 | 45.59 | -1.26 | -103.64 | 51.73 | -60.69 |
| Net Cash Flow | — | — | -1.1 | 20.28 | 1.2 | -8.45 | 72.78 | -77.94 |
| Free Cash Flow | — | — | -12.53 | -26.64 | 1.68 | 91.85 | 16.44 | -18.79 |
| CFO/OP | — | — | -339 | -4361 | 107 | -5837 | -73 | -888 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 20.41 | 4.06 | 14.13 | 4.8 | 16.24 | 0.79 | 195.27 | 8.95 |
| Inventory Days | 44.82 | 14.6 | 401.67 | 297.49 | 284.98 | 1.13 | 10.22 | 75.11 |
| Days Payable | 45.39 | 2.72 | 12.37 | 1.02 | 0.78 | 0.43 | 243.25 | 0 |
| Cash Conversion Cycle | 19.83 | 15.94 | 403.43 | 301.27 | 300.44 | 1.49 | -37.76 | 84.06 |
| Working Capital Days | 35.29 | 30.48 | 406.15 | 352 | 294.85 | 4.41 | -52.99 | 68.52 |
| ROCE % | — | 17.77 | — | 1.95 | 1.47 | 0.5 | -20.59 | 14.81 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 35.19% | 37.16% | 42.14% | 47.11% | 52.03% | 52.03% | 52.03% | 50.77% | 46.84% | 46.84% |
| FIIs | 0% | 5.26% | 7.74% | 4.5% | 3.19% | 1.04% | 2.71% | 4.24% | 3.47% | 3.58% |
| DIIs | 4.2% | 8.63% | 12.78% | 10.8% | 8.07% | 11.32% | 12.65% | 14.68% | 14.08% | 12.43% |
| Public | 60.61% | 48.95% | 37.34% | 37.59% | 35.94% | 34.97% | 32.07% | 29.87% | 35.29% | 36.86% |
| Others | 0% | 0% | 0% | 0% | 0.76% | 0.63% | 0.53% | 0.43% | 0.32% | 0.31% |
| No. of Shareholders | 3203 | 6031 | 5889 | 5815 | 10686 | 42988 | 37581 | 40999 | 44552 | 46766 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 52.03% | 50.8% | 50.8% | 50.8% | 50.77% | 45.9% | 45.9% | 46.49% | 46.84% | 46.84% | 46.84% | 46.84% |
| FIIs | 2.71% | 2.56% | 2.67% | 3.23% | 4.24% | 4.14% | 4.47% | 4.03% | 3.47% | 4.28% | 3.71% | 3.58% |
| DIIs | 12.65% | 13.09% | 14.87% | 14.7% | 14.68% | 17.19% | 16.59% | 15.26% | 14.08% | 15.26% | 14.59% | 12.43% |
| Public | 32.07% | 33.01% | 31.11% | 30.74% | 29.87% | 32.37% | 32.62% | 33.83% | 35.29% | 33.31% | 34.57% | 36.86% |
| Others | 0.53% | 0.53% | 0.53% | 0.53% | 0.43% | 0.41% | 0.41% | 0.39% | 0.32% | 0.31% | 0.31% | 0.31% |
| No. of Shareholders | 37581 | 35245 | 38472 | 41443 | 40999 | 40786 | 43309 | 44497 | 44552 | 45226 | 46095 | 46766 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 207.13 | Sell |
| EMA (10) | 204.1 | Sell |
| SMA (20) | 211.98 | Sell |
| EMA (20) | 207.61 | Sell |
| SMA (50) | 207.18 | Sell |
| EMA (50) | 208.69 | Sell |
| SMA (100) | 211.71 | Sell |
| EMA (100) | 206.5 | Sell |
| SMA (200) | 199.11 | Sell |
| EMA (200) | 199.73 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.14 | Neutral |
| MACD (12,26,9) | -2.91 | Sell |
| Stochastic (14,3,3) | 11.65 | Buy |
| ADX (14) | 13.3 | Neutral |
| Williams %R (14) | -84.46 | Buy |
| ATR (14) | 10.15 | High Volatility |
| ROC (12) | -8.47 | Sell |
| Stoch RSI (14) | 24.21 | Neutral |
| UO (7,14,28) | 43.98 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-02 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2c829f2c-6d77-43df-bfc2-af49bcfcba61.pdf) |
| 2026-02-25 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/xml-data/corpfiling/AttachHis/003F5885_F59A_4F4F_805D_FA8708B4BC9C_124532.pdf) |
| 2026-02-24 | [Announcement under Regulation 30 (LODR)-Acquisition](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1e7d7cbd-0ad3-430a-8eb1-d8357e287c1f.pdf) |
| 2026-02-19 | [Disclosures Under Regulation 7(2)(B) Of SEBI (Prohibition Of Insider Trading) Regulations, 2015](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0570c747-e5dd-4c1a-aab9-3f9a1e4668c0.pdf) |
| 2026-02-10 | [Clarification On Price Movement](https://www.bseindia.com/xml-data/corpfiling/AttachHis/20e82ba1-255f-42da-8200-ebd4373ffd5c.pdf) |
| 2026-02-02 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2493f376-fc11-48d3-834b-8e9af87427db.pdf) |
| 2026-01-30 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4b1035cc-3acd-412b-828c-749e1aac9c61.pdf) |
| 2026-01-30 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9e677a87-a046-4a6c-bdfb-eaa2b306c288.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0a5f0073-c834-4359-bad3-395ac15651f5.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9557f464-cdb2-47f1-a17d-c9a792831f72.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/71f81993-5f5b-49a0-87b5-2045083cabc5.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/531761/75587531761.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/531761/69379531761.pdf) |
| 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/531761/66114531761_08_09_20.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/531761/5317610319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/531761/5317610318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/531761/5317610317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/531761/5317610316.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2493f376-fc11-48d3-834b-8e9af87427db.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c51f9918-5287-43ab-9a09-90d4b9dedaad.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/0dfa0396-0e46-4980-b6b1-abbf35eb12dd.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b2884fb3-077d-4c95-a711-8df4ce87e7be.pdf) |
| Jan 2025 | [Concall - Jan 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/001fd496-d08a-4889-9201-0065445d7875.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1031b457-5671-47d2-9b67-606327dcf371.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/23838c1f-e4de-4f33-bd0a-76888801ce89.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a114400c-ad60-4e1b-9a8d-3b87f4a560ad.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3ea90eab-0902-4398-a3de-0b47c1f985b8.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bc203810-a4f2-445e-a5e8-2a874fd8566b.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-06-24 | Credit rating update — CARE Ratings |
| 2025-11-03 | Credit rating update — CRISIL |
| 2025-08-07 | Credit rating update — CARE Ratings |
| 2025-07-14 | Credit rating update — ICRA |
| 2025-05-23 | Credit rating update — Brickwork Ratings |
| 2024-09-16 | Credit rating update — CARE Ratings |
| 2024-08-21 | Credit rating update — CRISIL |
| 2024-06-13 | Credit rating update — ICRA |
| 2024-05-27 | Credit rating update — Brickwork Ratings |
| 2024-02-22 | Credit rating update — CRISIL |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T10:59:36.985Z.