Announcement
Announcement Under Reg 30 (LODR)_Clarification On Significant Price Movement Of The Company 16 Sep - Company says recent share price movement is market driven; no undisclosed material event exists.
Source: Bse
Ashoka Metcast Limited (ASHOKAMET)
Small CapMetals stocks · Small cap · NSE
Ashoka Metcast Limited operates in Steel Products, within the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals06 Oct 2026 · screener
Latest result12 Aug, 07:29 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Metals P/E 23.2 (n=92)
Technical timing lens
Trend score and candlestick chart
49NeutralSMA20 +5.1% / mo · MACD −
Stock trend: 48
Sector RS: 50
Sector 3M: -4.5% vs Nifty 500 -5.6%
Metals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ASHOKAMETD candles · FIT view-4.3%Latest close ₹14.73 on 2026-10-19
Bar
-2.9%
RSI
49
MACD hist
-0.00
52W pos
36%
2026-10-19O ₹15.17H ₹15.99L ₹14.70C ₹14.73Vol 2.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ASHOKAMETNifty MetalNifty 500
- ASHOKAMET
- +2.2%
- Nifty 500
- -5.6%
- Nifty Metal
- -3.8%
- Vs Nifty 500
- +7.8 pp
Chart stats
19 Oct 2026- From 52W high
- -24.1%
- 52W range position
- 36%
- ATR (14)
- 6.8%
- Volume vs 20D
- 3.43x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹14.1 - ₹16.5
₹19.4
₹12.1 - ₹19.4
₹1
Latest completed session
20-session average
49.1% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE50
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad17
Revenue -25.3% · PAT +185.8% YoY
Technical
Neutral49
Price trend and sector-relative-strength timing.
Valuation
Legacy model+91.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence59
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 17/100Rev -25% YoY · margin compression · PAT +186% YoY · operating leverage
Filed 12 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4.1 Cr | -25.3% | -60.7% |
| EBITDA | ₹-0.7 Cr | -242.3% | -130.7% |
| Operating margin | -18.2% | -2772 bps | -4147 bps |
| PAT | ₹3.2 Cr | +185.8% | +45.5% |
| PAT margin | 79.4% | +5863 bps | +5791 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 2.86
- P/B
- 0.30
- EV/EBITDA
- 15.83
- Market Cap
- 37.00Cr
Profitability
- ROE
- 8.40%
- ROCE
- 8.89%
- ROA
- 6.25%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- -13.00%
- EPS 5Y
- 131.00%
- Revenue 3Y
- -18.00%
- EPS 3Y
- 45.00%
Balance Sheet
- Debt/Equity
- 0.48
- Interest Coverage
- 5.00×
- Altman Z
- 1.33
- Book Value
- 48.80
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- -17.00 Cr
- EPS TTM
- 5.16
Shareholding
- Promoter Hold
- 53.64%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 38%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 28.0-28.2% vs prev
Net Profit
₹ CrLatest: 11.0+120.0% vs prev
Return on Equity
%Latest: 9.0+100.4% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 49. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~4.8% over last month) — short-term momentum positive.
- RSI(14) at 49 — sideways, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 24% off 52W high · 21% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
52
RS percentile
Stage 1 Base / Transition
1M return
-2.5%
3M return
+2.2%
6M return
-4.1%
1Y return
-12.2%
RS 1D
-5
RS 20D
+3
Sector rank
#4
Industry rank
#50
Stage evidence
- Price is within 1.1% of the 30-week proxy.
- The 30-week proxy changed +0.3% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price above
200-DMA
price below
Sector
leading
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 89.66-3.54%
RS vs Nifty 50090
Valuation & peers
U-Score 50 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 50 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation30/30
Growth17/25
Quality2/20
Balance Sheet5/15
Cash Flow1/10
Piotroski
5/9 (+3)
Penalties
-8
Raw sum
50
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
50/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 91.8%.
- Valuation contributes 30/30 to the score.
- Growth contributes 17/25 to the score.
Main drags
- Altman Z is 1.3, in distress territory.
- Penalty bucket subtracts 8 points.
- Quality is weaker at 2/20; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
2.9
PB
0.3
EV/EBITDA
15.8
ROE
8.4%
ROCE
8.9%
FCF Yield
—
Debt/Equity
0.5
MoS
+91.8%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 2.9, so peak-cycle earnings risk should be checked.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
50
Previous: 50
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+91.8%
Previous: +91.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
50
50
50
50
50
50
50
50
50
50
50
50
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹75.27
+80.4% MoS
Growth-justified P/E
34.8
Growth-justified Value
₹179.57
+91.8% MoS
PEG
0.03
Comparable companies
Peers
Business-comparable peers in Metals — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
NMSTEEL
SME
Newmalayalam Steel Ltd.
Steel
match 86
37
7.1
6.6%
+4%
WATCHLIST
AUSL
SME
Aditya Ultra Steel Ltd.
Steel
match 80
21
14.5
4.0%
-147%
OVERVALUED
KALANA
SME
Kalana Ispat Ltd.
Steel
match 79
36
23.3
2.2%
+31%
WATCHLIST
SHAH
Small
Shah Metacorp Limited
Steel
match 75
40
23.1
5.2%
+40%
WATCHLIST
BEEKAY
Small
Beekay Steel Industries Limited
Steel
match 75
39
17.9
1.4%
-1035%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Ashoka Metcast Limited operates in Steel Products, within the Metals sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
59Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 25th percentile of the scored universe and 26th percentile within Metals. Main check: cash conversion is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
4 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
25th percentile
overall median 67 · Metals: 26th pctile, median 70 · Small: 28th pctile, median 66
Evidence depth
Financial-only
4 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Needs extra due diligence; demand valuation comfort and recent improvement.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
40
weak · profit to cash conversion
Balance sheet
63
acceptable · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
48
watch · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸3/4 latest quarters had positive YoY PAT growth.
- ▸Latest 3 quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-17 Cr.
- ▸Altman Z is 1.30.
- ▸1/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 85.3%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Ashoka Metcast Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 17 Sep - AGM approved Jhanvi Vikas Sethi as Independent Director for five years from 12 August 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement Under Reg 30 (LODR)-Appointment Of Chief Financial Officer 12 Aug - Mr. Chandrakant Natubhai Chauhan appointed CFO effective 12 August 2026.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Change in Directorate 12 Aug - Mrs. Jhanvi Vikas Sethi appointed Additional Independent Director on 12 August 2026 for up to 5 years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 Aug - Newspaper Adv_17th AGM of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Change in Registered Office Address 12 Aug - Board approved shifting registered office to Ambli, Ahmedabad; new contact number +916358028106.
Source: Bse
AnnouncementMay 2026
May 2026 · Announcement under Regulation 30 (LODR)-Resignation of Chief Financial Officer (CFO) 16 May - Harshil Nilesh Vyas resigned as CFO effective 16 May 2026 due to personal reasons.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 3 May
Source: Bse
AnnouncementApr 2026
Apr 2026 · Announcement under Regulation 30 (LODR)-Resignation of Company Secretary / Compliance Officer 30 Apr - Riddhi Shah resigned as Company Secretary and Compliance Officer effective 30 April 2026.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.