---
title: "Bellary Steels & Alloys Ltd(liquidated) (BELLARYSTL) — Share Price, Financials & Analysis"
symbol: "BELLARYSTL"
company: "Bellary Steels & Alloys Ltd(liquidated)"
canonical: "https://tapetide.com/stocks/BELLARYSTL"
generated_at: "2026-10-13T10:58:45.559Z"
---

# Bellary Steels & Alloys Ltd(liquidated) (BELLARYSTL)

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

## Company

- **Stock Type:** EQUITY
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** bsal.in

## About

Bellary Steels & Alloys Limited(liquidated), incorporated in India, Listed on the Bombay Stock exchange Limited, the company is engaged in Steels

## Latest Price

## Key Insights

### Strengths

- Debtor days have improved from 35.6 to 24.6 days.

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | -22% | -36% |
| revenue growth | -19% | 4% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 572.18 | 577.69 | 600.1 | 636.05 | 631.77 | 652.17 | 679.99 | 694.89 | 709.02 | 700.24 | 729.34 | 767.1 |
| Expenses | 539.74 | 543.59 | 573.78 | 601.28 | 591.51 | 611.26 | 636.28 | 648.66 | 673.33 | 660.94 | 697.77 | 746.41 |
| Operating Profit | 32.44 | 34.1 | 26.32 | 34.77 | 40.26 | 40.91 | 43.71 | 46.23 | 35.69 | 39.3 | 31.57 | 20.69 |
| OPM % | 5.67 | 5.9 | 4.39 | 5.47 | 6.37 | 6.27 | 6.43 | 6.65 | 5.03 | 5.61 | 4.33 | 2.7 |
| Other Income | 1.74 | 1.48 | 5.98 | 9.35 | 5.56 | 6.49 | 6.93 | 5.67 | 16.58 | 5.05 | 5.53 | -1.99 |
| Interest | 5.98 | 5.61 | 6.35 | 4.25 | 3.08 | 3.39 | 2.95 | 1.99 | 2.02 | 2.12 | 1.59 | 1.45 |
| Depreciation | 14.6 | 13.06 | 13.69 | 14.92 | 12.29 | 11.46 | 12.32 | 12.07 | 11.29 | 11.18 | 11.93 | 12 |
| Profit before tax | 13.6 | 16.91 | 12.26 | 24.95 | 30.45 | 32.55 | 35.37 | 37.84 | 38.96 | 31.05 | 23.58 | 5.25 |
| Tax % | 28.82 | 26.73 | 25.12 | 17.68 | 20.69 | 21.26 | 20.84 | 17.65 | 12.29 | 6.63 | 15.99 | -26.1 |
| Net Profit | 9.67 | 12.4 | 9.18 | 20.54 | 24.16 | 25.63 | 28.01 | 31.15 | 34.18 | 28.99 | 19.8 | 6.61 |
| EPS in Rs | — | — | 1.49 | 3.12 | 3.86 | 3.79 | 4.2 | 4.61 | 5.14 | 4.27 | 2.97 | 1.37 |

### Profit & Loss

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 |
| --- | --- | --- | --- | --- |
| Sales | 31 | 31 | 44 | 35 |
| Expenses | 35 | 35 | 42 | 42 |
| Operating Profit | -4 | -4 | 2 | -7 |
| OPM % | -12 | -11 | 4.1 | -20 |
| Other Income | 8 | 0 | 0 | -3 |
| Interest | 78 | 97 | 110 | 127 |
| Depreciation | 7 | 7 | 7 | 7 |
| Profit before tax | -81 | -107 | -116 | -144 |
| Tax % | 0 | 0 | 0 | 0 |
| Net Profit | -81 | -107 | -116 | -144 |
| EPS in Rs | -1.11 | -1.47 | -1.58 | -1.96 |
| Dividend Payout % | 0 | 0 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 |
| --- | --- | --- | --- | --- |
| Equity Capital | 73 | 73 | 73 | 73 |
| Reserves | -424 | -523 | -638 | -782 |
| Borrowings | 1996 | 2238 | 2491 | 2863 |
| Other Liabilities | 119 | 119 | 129 | 137 |
| Total Liabilities | 1764 | 1908 | 2055 | 2292 |
| Fixed Assets | 71 | 62 | 56 | 51 |
| CWIP | 1584 | 1737 | 1883 | 2129 |
| Investments | 0 | 0 | 0 | 0 |
| Other Assets | 109 | 108 | 117 | 112 |
| Total Assets | 1764 | 1908 | 2055 | 2292 |

### Cash Flow

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 |
| --- | --- | --- | --- | --- |
| Cash from Operating Activity | -77 | -92 | -106 | -124 |
| Cash from Investing Activity | -144 | -150 | -146 | -248 |
| Cash from Financing Activity | 221 | 242 | 253 | 372 |
| Net Cash Flow | 0 | 0 | 1 | 0 |
| Free Cash Flow | -221 | -242 | -253 | -372 |
| CFO/OP | 2036 | 2585 | -5962 | 1781 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 |
| --- | --- | --- | --- | --- |
| Debtor Days | 19 | 45 | 38 | 25 |
| Inventory Days | 97 | 62 | 153 | 142 |
| Days Payable | 660 | 659 | 672 | 623 |
| Cash Conversion Cycle | -545 | -552 | -482 | -456 |
| Working Capital Days | -1129 | -1135 | -830 | -1164 |
| ROCE % | — | -1 | 0 | -1 |

## Shareholding Pattern

### annual

| Category | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- |
| Promoters | 58.64% | 58.88% | 59.09% |
| FIIs | 5.05% | 2.74% | 3.34% |
| DIIs | 14% | 15.35% | 13.04% |
| Public | 22.31% | 23.05% | 24.54% |
| No. of Shareholders | 23865 | 45079 | 51721 |

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.47% | 58.73% | 58.64% | 58.88% | 58.88% | 58.88% | 58.88% | 58.88% | 58.91% | 59.09% |
| FIIs | 12.16% | 7.26% | 5.05% | 3.86% | 3.54% | 3.12% | 2.74% | 3.69% | 3.56% | 3.34% |
| DIIs | 12.38% | 15.26% | 14% | 13.49% | 15.26% | 15.03% | 15.35% | 12.78% | 13.13% | 13.04% |
| Public | 16.99% | 18.75% | 22.31% | 23.75% | 22.31% | 22.96% | 23.05% | 24.65% | 24.38% | 24.54% |
| No. of Shareholders | 44520 | 19430 | 23865 | 27258 | 35089 | 43911 | 45079 | 48144 | 52923 | 51721 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 235.49 | Sell |
| EMA (10) | 235.08 | Sell |
| SMA (20) | 239.47 | Sell |
| EMA (20) | 236.89 | Sell |
| SMA (50) | 235.13 | Sell |
| EMA (50) | 239.41 | Sell |
| SMA (100) | 246.21 | Sell |
| EMA (100) | 246.34 | Sell |
| SMA (200) | 262.91 | Sell |
| EMA (200) | 257.66 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 43.91 | Neutral |
| MACD (12,26,9) | -1.64 | Sell |
| Stochastic (14,3,3) | 18.6 | Buy |
| ADX (14) | 14.04 | Neutral |
| Williams %R (14) | -81.32 | Buy |
| ATR (14) | 7.58 | High Volatility |
| ROC (12) | -3.93 | Sell |
| Stoch RSI (14) | 13.34 | Buy |
| UO (7,14,28) | 47.88 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-05 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachLive/371e1431-5535-4339-9ab6-88bf842f8089.pdf) |
| 2026-02-13 | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order](https://www.bseindia.com/xml-data/corpfiling/AttachHis/780ced7a-820c-4783-a518-0db6364408ad.pdf) |
| 2026-02-11 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/990ef032-ef66-4188-8823-377b4bef23de.pdf) |
| 2026-02-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/81794153-6f44-4963-a01b-cd714c5f546e.pdf) |
| 2026-02-06 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8a9e46fe-b959-4ad1-b56f-875bb2566e72.pdf) |
| 2026-02-06 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cbdfbeff-0a9e-4130-8cb2-696f0e69fa00.pdf) |
| — | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachLive/2434a4b0-83a8-4471-ae38-4f11de22ed14.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bb5e078b-ed03-49b8-b1cf-271ca163f970.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ff810548-2066-4548-95d4-9ffcd40ca0ea.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ccb6d174-592a-47b0-944a-744f0ef4e72c.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/990ef032-ef66-4188-8823-377b4bef23de.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a517ea8b-403c-40a9-a395-be3be09db775.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7cb403ea-acd8-422e-9bf7-a87fd087f817.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1174918b-40c7-46c1-bad8-463656ea409e.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ea933cef-a207-49e3-a5bd-706f5f16cb97.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e6ea669b-9c56-4d14-a7d5-36bc1bad5e22.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4afd93c0-e585-4c9a-8138-a8bb495cde08.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e666dfa3-7d92-4810-bbe3-dd36e527eaef.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/99b87d0c-3d5a-4601-a1ff-df34aa0c3bd4.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6196d717-76e9-400e-9bd8-5d09b0e49de7.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-06-25 | Credit rating update — ICRA |
| 2024-03-21 | Credit rating update — ICRA |
| 2022-12-30 | Credit rating update — ICRA |

---

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 2026-10-13T10:58:45.559Z.