Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 29 Sep - ICRA reaffirmed/assigned A1+ rating for Kalyani Steels' ₹75 crore commercial paper.
Source: Bse
Kalyani Steels Limited (KSL)
Small CapMetals stocks · Small cap · NSE
Kalyani Steels Limited operates in Minerals, 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 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:34 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Metals P/E 23.2 (n=92)
Technical timing lens
Trend score and candlestick chart
59NeutralSMA20 +3.6% / mo · MACD − · near 52W high
Stock trend: 65
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
KSLD candles · FIT view+18.7%Latest close ₹947.55 on 2026-10-19
Bar
+0.0%
RSI
51
MACD hist
-2.46
52W pos
81%
2026-10-19O ₹947.55H ₹954.80L ₹928.05C ₹947.55Vol 42,621 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
KSLNifty MetalNifty 500
- KSL
- +2.8%
- Nifty 500
- -5.6%
- Nifty Metal
- -3.8%
- Vs Nifty 500
- +8.4 pp
Chart stats
19 Oct 2026- From 52W high
- -8.3%
- 52W range position
- 81%
- ATR (14)
- 4.1%
- Volume vs 20D
- 0.36x
- Avg traded value
- ₹11.4 Cr
- 20D price channel
- ₹890.1 - ₹1,032.9
₹1,032.9
₹574 - ₹1,032.9
₹38.6
Latest completed session
20-session average
39.1% 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
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE46
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average35
Revenue +5.0% · PAT +9.7% YoY
Technical
Neutral59
Price trend and sector-relative-strength timing.
Valuation
Legacy model+4.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence74
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
Average · 35/100Rev +5% YoY · PAT +10% YoY · margin expansion
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹465 Cr | +5.0% | -3.9% |
| EBITDA | ₹91 Cr | +7.1% | -8.1% |
| Operating margin | 20.0% | +100 bps | +0 bps |
| PAT | ₹68 Cr | +9.7% | -5.6% |
| PAT margin | 14.6% | +62 bps | -26 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.90
- P/B
- 1.91
- EV/EBITDA
- 10.63
- Market Cap
- 4022.00Cr
Profitability
- ROE
- 13.20%
- ROCE
- 14.80%
- ROA
- 8.81%
- Dividend Y
- 1.09%
Growth (CAGR)
- Revenue 5Y
- 9.00%
- EPS 5Y
- 7.00%
- Revenue 3Y
- 23.00%
- EPS 3Y
- 23.00%
Balance Sheet
- Debt/Equity
- 0.25
- Interest Coverage
- 45.88×
- Altman Z
- 4.31
- Book Value
- 482.00
Cash Flow
- FCF Yield
- 0.90%
- FCF Positive Y
- 8/5
- OCF
- 141.00 Cr
- EPS TTM
- 60.57
Shareholding
- Promoter Hold
- 64.70%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 76%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 465-3.9% vs prev
Net Profit
₹ CrLatest: 68.0-5.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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 uptrend intact. RSI 51. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~3.5% over last month) — short-term momentum positive.
- RSI(14) at 51 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 8% off 52W high · 65% 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
75
RS percentile
Stage 2 UptrendEstablished S2
1M return
-0.8%
3M return
+2.8%
6M return
+16.5%
1Y return
+13.9%
RS 1D
+1
RS 20D
-4
Sector rank
#4
Industry rank
#14
Stage evidence
- Price is 12.1% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.0%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
01 Jul 2026
S2 age
77 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 125.05+1.05%
RS vs Nifty 500125
Valuation & peers
U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation10/30
Growth12/25
Quality3/20
Balance Sheet12/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
46
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
46/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 12/15 to the score.
- Growth contributes 12/25 to the score.
Main drags
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Valuation is weaker at 10/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; 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
14.9
PB
1.9
EV/EBITDA
10.6
ROE
13.2%
ROCE
14.8%
FCF Yield
0.9%
Debt/Equity
0.3
MoS
+4.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
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: 20 Oct 2026
v4.3-runtime-valuation
Final score
46
Previous: 46
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+4.6%
Previous: +4.6%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
46
46
46
46
45
46
46
46
46
46
46
46
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
₹810.48
-16.9% MoS
Growth-justified P/E
16.4
Growth-justified Value
₹993.35
+4.6% MoS
PEG
1.33
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
STEELCAS
Small
Steelcast Limited
Mining
match 96
54
40.6
24.0%
-11%
FAIR VALUE
VSSL
Small
Vardhman Special Steels Limited
Mining
match 96
36
40.6
12.1%
+7%
WATCHLIST
SAMBHV
Small
Sambhv Steel Tubes Limited
Mining
match 96
51
28.9
18.7%
+15%
FAIR VALUE
MAITHANALL
Small
Maithan Alloys Limited
Mining
match 94
48
9.1
0.5%
-595%
FAIR VALUE
SBCL
Small
Shivalik Bimetal Controls Limited
Mining
match 93
46
58.2
21.8%
-56%
FAIR VALUE
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
Kalyani Steels Limited operates in Minerals, 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
74Limited 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 75th percentile of the scored universe and 75th percentile within Metals. Main check: results consistency is weak at 51/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
16 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
75th percentile
overall median 67 · Metals: 75th pctile, median 70 · Small: 77th pctile, median 66
Evidence depth
Financial-only
16 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
Acceptable, but check the weakest sub-score before increasing exposure.
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
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
58
watch · capital discipline
Results
51
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 64.7%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.9%.
- ▸8 years of positive FCF.
Trust risks
- ▸ROCE trend is -3.2%.
- ▸1/4 latest quarters had positive YoY revenue growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Kalyani Steels Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Sep - Announcement U/R 30 of SEBI LODR-Newspaper publication-Postal Ballot Notice
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 19 Aug - Announcement U/R 30 of SEBI LODR-Newspaper Publication-Reminder III - Special Trading Window for Physical Transfer
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 10 Aug - Announcement U/R 30 of SEBI LODR-Newspaper Publication-Unaudited Results-Q1
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.