Investor presentationJun 2026
Jun 2026 · PPT
Source: Nse
Paramount Speciality Forgings Ltd. (PSFL)
SME CapIndustrials stocks · SME cap · NSE
Paramount Speciality Forgings Ltd. (PSFL) manufactures forgings for oil & gas, petrochemicals, heavy engineering, and infrastructure sectors. Products include flanges, nozzles, rings, and gear blanks. Operates two plants, with an ongoing expansion at Kalapur facility.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result01 Jun, 08:25 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
54NeutralSMA20 +6.4% / mo · MACD −
Stock trend: 60
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PSFLD candles · FIT view+0.0%Latest close ₹31.00 on 2026-10-21
Bar
-0.5%
RSI
45
MACD hist
-0.29
52W pos
56%
2026-10-21O ₹31.15H ₹31.15L ₹31.00C ₹31.00Vol 54,000 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
PSFLNifty India ManufacturingNifty 500
- PSFL
- +1.3%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -7.1%
- Vs Nifty 500
- +6.9 pp
Chart stats
21 Oct 2026- From 52W high
- -28.0%
- 52W range position
- 45%
- ATR (14)
- 4.5%
- Volume vs 20D
- 4.95x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹31 - ₹38.8
₹43.1
₹21.2 - ₹43.1
₹1.4
Latest completed session
20-session average
101.3% 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 VALUE47
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +19.2% · PAT +0.0% YoY
Technical
Neutral54
Price trend and sector-relative-strength timing.
Valuation
Legacy model+63.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence61
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 31 Mar 2026
Bad · 2/100PAT 0% YoY · margin compression · Rev +19% YoY · +7% QoQ
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹62 Cr | +19.2% | +6.9% |
| EBITDA | ₹4 Cr | NDF | +0.0% |
| Operating margin | 6.0% | NDF | -100 bps |
| PAT | ₹2 Cr | +0.0% | +0.0% |
| PAT margin | 3.2% | NDF | -22 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.80
- P/B
- 1.10
- EV/EBITDA
- 9.00
- Market Cap
- 62.00Cr
Profitability
- ROE
- 7.76%
- ROCE
- 9.40%
- ROA
- 3.13%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 77.00%
- Revenue 3Y
- 3.00%
- EPS 3Y
- 15.00%
Balance Sheet
- Debt/Equity
- 0.49
- Interest Coverage
- 4.00×
- Altman Z
- 2.23
- Book Value
- 28.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 2/5
- OCF
- 6.00 Cr
- EPS TTM
- 2.16
Shareholding
- Promoter Hold
- 72.29%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 59%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 120+9.1% vs prev
Net Profit
₹ CrLatest: 4.0+0.0% vs prev
Return on Equity
%Latest: 7.0-8.7% 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 uptrend intact. RSI 45. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~6.0% over last month) — short-term momentum positive.
- RSI(14) at 45 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 20% off 52W high · 47% 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
53
RS percentile
Stage 2 UptrendEstablished S2
1M return
-4.5%
3M return
+5.0%
6M return
+13.1%
1Y return
-23.3%
RS 1D
-5
RS 20D
+5
Sector rank
#2
Industry rank
#24
Stage evidence
- Price is 2.9% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
13 Jul 2026
S2 age
46 trading sessions
Sector
leading
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
229 observations
21 Oct 2026Value 88.92-0.67%
RS vs Nifty 50089
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 47 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation21/30
Growth18/25
Quality0/20
Balance Sheet9/15
Cash Flow2/10
Piotroski
7/9 (+5)
Penalties
-8
Raw sum
47
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
47/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 63.5%.
- Growth contributes 18/25 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Cash flow is weaker at 2/10; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
14.8
PB
1.1
EV/EBITDA
9.0
ROE
7.8%
ROCE
9.4%
FCF Yield
—
Debt/Equity
0.5
MoS
+63.5%
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
47
Previous: 47
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+63.5%
Previous: +62.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
46
46
46
46
46
46
46
46
46
46
47
47
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
₹37.28
+16.9% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹84.89
+63.5% MoS
PEG
0.28
Comparable companies
Peers
Business-comparable peers in Industrials — 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
AUROIMPEX
SME
Auro Impex & Chemicals Ltd.
Industrial Products
match 60
49
11.7
8.4%
+71%
FAIR VALUE
ARCIIL
SME
ARC Insulation & Insulators Ltd.
Industrial Products
match 56
58
17.2
4.4%
+57%
FAIR VALUE
CLASSICEIL
SME
Classic Electrodes (India) Ltd.
Industrial Products
match 55
81
7.1
17.9%
+82%
DEEP VALUE
JIWANRAM
SME
Jiwanram Sheoduttrai Industries Ltd.
Industrial Products
match 53
51
9.9
1.6%
+75%
FAIR VALUE
AGUL
SME
A G Universal Ltd.
Industrial Products
match 53
14
—
-12.2%
-3568%
OVERVALUED
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
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-08-21T11:42:56.965Z
Management commentary snapshot
PSFL reports H2 & FY26 revenue up 10-12% YoY, but past revenue growth has been flat and EBITDA margins dipped. Management targets significant revenue growth by FY28 driven by new capacity and market diversification.
Despite reported revenue growth for FY26, the company acknowledges flat revenue over the last 4 years and dipping EBITDA margins. The thesis relies heavily on successful commissioning and ramp-up of new capacity, effective market diversification, and improved operational efficiency to achieve ambitious FY27/28 targets.
Current business mix
Sales by geography
Latest issuer-disclosed distribution across 2 reported categories.
Domestic75.0%
Exports25.0%
Growth engines
New Capacity
10-ton forging hammer and 2,000-ton forging press will increase output to around 6,000 to 8,000 tons per annum.
Market Diversification
Increasing the sectoral performance from various industries, reducing our entire focus only not only towards the oil and gas.
New Registrations
Registering our manufacturing processes with certain foreign companies (e.g., Adnoc) and for aerospace as well as defense areas.
Value-Added Products
Developed capacities into complex metallurgy components (nickel alloy metals) for higher value addition.
Capacity and execution
Kalapur Expansion
Setting up a 10-ton forging hammer and a 2,000-ton forging press.
Commercial Production Timeline
We envisage to start commercial production in this H1, towards the H1.
Internal Testing Laboratory
Successfully set up our internal testing laboratory, commissioned in Feb 2026, applied for NABL accreditation.
Solar Power Plant
Approximately 750 kilowatts successfully commissioned, intend to complete 1MW by June end, further expansion to 1.3-1.4 megawatts planned.
Tailwinds
Robust Industry Growth
We see robust growth over the next 2 to 3 years across oil and gas, petrochemicals, power, and infra.
Government Capex
Indian government announcements in terms of capex in oil and gas, and also in nuclear energy, present a good opportunity.
Defense Sector Demand
We also foresee a lot of demand from the defense and other sectors also. Everybody wants to know slowly, you know, start working towards their, defense budgets also.
Headwinds
Raw Material Price Volatility
Manufacturing costs and everything rising high, so we foresee that there may be certain impact on certain margins at certain places.
Geopolitical Tensions
In very, very adverse case scenarios, there can be, you know, escalations as far as, Like, a war situation or something, which is beyond control with anybody.
Risk radar
Execution Risk
Revenue has remained almost flat for the last 4 years due to certain breakages, outages, and disruptions in various aspects.
Margin Pressure
The operating margins over the last couple of years, they've consistently been dipping from March 24 to 25 to 26.
Customer Concentration
The top 5 customers would yield anything between 30-40% of our business revenues, with Reliance being the biggest.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company discusses full fiscal year (FY26) performance and provides targets for future fiscal years (FY27, FY28), making year-over-year comparison most relevant for assessing strategic progress and growth.
Sector KPIs management disclosed
Revenue Growth (FY26)
Revenue-wise, we have performed around 10-12% better.
Revenue Target (FY27)
So, 27, we are looking somewhere between 150 to 160 crores.
Revenue Target (FY28)
And 28 post-expansions, we should be targeting approximately 200 crores plus.
Current Order Book
The current order book position is something between 45 to 50 crores.
Management forward view
Long-Term Contracts
Already in tie-ups with certain companies who are looking forward to give long-term contracts as far as the new equipment are being installed.
International Expansion
Signed an agreement with a UAE company for Adnoc registration; hope to complete the process in another 3 to 5 months.
Aerospace & Defense Entry
Towards end of H2, we should be looking forward to working towards more niche and critical areas for registrations for aerospace as well as defense areas.
Cost Savings from Solar
Solar plant will enable us to not only reduce our carbon footprint, but also help reduce our manufacturing expenses and save on electricity by 25-30%.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| New Capacity Commercial Production | Erection and installation ongoing, targeting H1 FY27. | Successful commissioning and ramp-up of the 10-ton hammer and 2,000-ton forging press. |
| NABL Accreditation | Applied for NABL accreditation for internal testing laboratory. | Successful acquisition of NABL accreditation in the next couple of months. |
| Order Book Growth | 45-50 crores. | Increase to 60-70 crores over the next 3-4 months and conversion into revenue. |
| EBITDA Margin Improvement | Approximately 6% in FY26. | Achievement of 8-10% EBITDA margin in H2 FY27 and progress towards the 14-15% sustainable target. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
61Limited 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 32nd percentile of the scored universe and 28th percentile within Industrials. Main check: financial discipline is weak at 42/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
2 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
32nd percentile
overall median 67 · Industrials: 28th pctile, median 68 · SME: 36th pctile, median 64
Evidence depth
Financial-only
2 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
55
watch · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
42
weak · capital discipline
Results
48
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 72.3%.
- ▸Promoter pledge is zero.
Trust risks
- ▸ROE is low at 7.9%.
- ▸ROCE trend is -7.3%.
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Paramount Speciality Forgings Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Annual report
Annual Report 2026
Source: Nse
Concall transcriptJan 2026
Jan 2026 · Transcript
Source: Nse
Annual report
Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.