Steel City Securities Limited (STEELCITY.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+194.7%

₹231.48

vs ₹78.55 price

Levered DCF

₹49.03

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

—

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	7.52×	9.13×	9.62×	8.51×	6.4×	5.02×	3.81×	9.94×
P/B	0.78×	1.21×	0.96×	0.86×	0.84×	0.56×	0.31×	1.06×
P/S	1.61×	2.4×	1.93×	1.75×	1.39×	1.01×	0.56×	1.48×
EV / EBITDA	2.75×	6.56×	6.67×	4.64×	3.6×	3.36×	0.32×	4.15×
Gross margin	93.9%	65.4%	63.5%	62.9%	59.7%	61.0%	68.7%	74.4%
Operating margin	29.4%	29.8%	21.6%	20.8%	25.5%	22.9%	16.3%	19.4%
Net margin	21.4%	26.3%	20.0%	20.5%	21.7%	20.2%	14.6%	14.7%
Current ratio	16.41×	2.21×	2.01×	2.09×	1.9×	1.97×	1.91×	2.03×
Debt / equity	0.07×	0.03×	0.04×	0.01×	0×	0.01×	0×	0×
Interest coverage	21.78×	21.48×	51.35×	62.2×	210.75×	104.27×	36.94×	298.94×
Dividend yield	5.6%	3.9%	4.0%	4.8%	5.1%	5.7%	13.6%	5.1%
Payout ratio	42.3%	35.2%	38.2%	40.4%	32.8%	28.6%	51.7%	51.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.4%	13.2%	10.0%	10.0%	13.2%	11.1%	8.1%	10.5%
Return on invested capital	6.2%	10.2%	7.1%	7.0%	11.3%	9.2%	6.7%	9.3%
Return on assets	6.0%	8.0%	5.7%	6.1%	7.6%	6.4%	4.8%	6.2%
Free cash flow yield	0.4%	0.2%	-16.7%	2.4%	24.0%	-0.6%	7.7%	11.3%
Earnings yield	13.3%	11.0%	10.4%	11.7%	15.6%	19.9%	26.2%	9.9%
Enterprise value	₹554.6M	₹1.6B	₹1.1B	₹729.1M	₹675M	₹484.8M	₹35.5M	₹608.7M
Net debt / EBITDA	-2.58×	0.03×	-0.12×	-1.43×	-1.12×	-0.32×	-2.12×	-1.95×
Cash conversion cycle (days)	-5,722	-568	-753	-603	-363	-303	-547	-385