Announcement
Announcement under Regulation 30 (LODR)-Conversion of Securities 10 Sep - Board approved allotment of 2.75 crore shares to promoter Mona Viral Shah for ₹9.71 crore.
Source: Bse
Shah Metacorp Limited (SHAH)
Small CapMetals stocks · Small cap · NSE
Shah Metacorp 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, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result31 Aug, 11:43 am 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
32Bearishfull bear SMA stack · SMA20 -12.1% / mo · MACD + · near 52W low
Stock trend: 24
Sector RS: 44
Sector 3M: -5.5% vs Nifty 500 -5.6%
Metals FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SHAHD candles · FIT view-47.4%Latest close ₹2.77 on 2026-10-21
Bar
-5.8%
RSI
32
MACD hist
0.00
52W pos
6%
2026-10-21O ₹2.94H ₹2.94L ₹2.75C ₹2.77Vol 8.4L 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
SHAHNifty MetalNifty 500
- SHAH
- -36.3%
- Nifty 500
- -6.5%
- Nifty Metal
- -6.1%
- Vs Nifty 500
- -29.8 pp
Chart stats
21 Oct 2026- From 52W high
- -52.6%
- 52W range position
- 6%
- ATR (14)
- 6.1%
- Volume vs 20D
- 0.79x
- Avg traded value
- ₹0.3 Cr
- 20D price channel
- ₹2.8 - ₹3.3
₹5.8
₹2.6 - ₹5.8
₹0.2
Latest completed session
20-session average
41.8% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, 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 · WATCHLIST41
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good62
Revenue +97.9% · PAT +41.4% YoY
Technical
Bearish32
Price trend and sector-relative-strength timing.
Valuation
Legacy model+43.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence54
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
Good · 62/100Rev +98% YoY · PAT +41% YoY · margin compression
Filed 31 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹57.2 Cr | +97.9% | -8.2% |
| EBITDA | ₹4.7 Cr | +50.0% | +214.2% |
| Operating margin | 8.3% | -264 bps | +1495 bps |
| PAT | ₹3.5 Cr | +41.4% | -56.8% |
| PAT margin | 6.2% | -247 bps | -692 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 23.10
- P/B
- 0.99
- EV/EBITDA
- 77.71
- Market Cap
- 305.00Cr
Profitability
- ROE
- 5.16%
- ROCE
- 4.85%
- ROA
- 2.30%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 75.00%
- EPS 5Y
- 17.00%
- Revenue 3Y
- 73.00%
- EPS 3Y
- 95.00%
Balance Sheet
- Debt/Equity
- 0.78
- Interest Coverage
- 1.00×
- Altman Z
- 1.87
- Book Value
- 3.09
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 5/5
- OCF
- -58.00 Cr
- EPS TTM
- 0.14
Shareholding
- Promoter Hold
- 32.51%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 16%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 57.2-8.2% vs prev
Net Profit
₹ CrLatest: 3.5-56.8% 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
Bearish setupTrend is weak — long-term trend down. RSI 32.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~13.8% over last month) — short-term momentum negative.
- RSI(14) at 32 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 53% off 52W high · 8% 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
6
RS percentile
Stage 4 Downtrend
1M return
-15.8%
3M return
-36.3%
6M return
-47.4%
1Y return
-39.9%
RS 1D
-6
RS 20D
-14
Sector rank
#6
Industry rank
#55
Stage evidence
- Price is 36.2% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -5.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 78.68-4.26%
RS vs Nifty 50079
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 41 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation16/30
Growth17/25
Quality0/20
Balance Sheet6/15
Cash Flow3/10
Piotroski
4/9 (+1)
Penalties
-2
Raw sum
41
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
41/100 · legacy band WATCHLIST
Positive drivers
- Fair-value margin of safety is positive at 43.1%.
- Growth contributes 17/25 to the score.
- Valuation contributes 16/30 to the score.
Main drags
- Penalty bucket subtracts 2 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
- Cash flow is weaker at 3/10; 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
23.1
PB
1.0
EV/EBITDA
77.7
ROE
5.2%
ROCE
4.8%
FCF Yield
—
Debt/Equity
0.8
MoS
+43.1%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
41
Previous: 40 (+1)
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+43.1%
Previous: +40.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
38
38
38
40
41
35
36
36
36
36
40
40
Factor attribution
Valuation
16+1
was 15
Modelled fair value
Graham Number
₹3.12
+11.2% MoS
Growth-justified P/E
34.8
Growth-justified Value
₹4.87
+43.1% MoS
PEG
0.85
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
CMNL
SME
Chaman Metallics Ltd.
Steel
match 85
15
—
-1.8%
—
OVERVALUED
PSRAJ
SME
P S Raj Steels Ltd.
Steel
match 85
30
44.4
12.4%
-11%
OVERVALUED
ASHOKAMET
Small
Ashoka Metcast Limited
Steel
match 84
50
2.9
8.4%
+92%
FAIR VALUE
BAJAJST
Small
Bajaj Steel Industries Limited
Steel
match 81
31
23.5
9.1%
-493%
OVERVALUED
NMSTEEL
SME
Newmalayalam Steel Ltd.
Steel
match 79
37
7.1
6.6%
+4%
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
Shah Metacorp 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
54Limited 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 13th percentile of the scored universe and 11th percentile within Metals. Main check: financial discipline 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
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
13th percentile
overall median 67 · Metals: 11th pctile, median 70 · Small: 15th 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
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
82
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
51
watch · leverage and solvency
Discipline
40
weak · capital discipline
Results
43
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸Promoter holding increased 1.1%.
- ▸5 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸Operating cash flow is negative at ₹-47 Cr.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸Interest coverage is 1.0x.
- ▸ROCE is low at 4.8%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Shah Metacorp 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 10 Sep - Newspaper Advertisement - Notice of 27th Annual General Meeting, Book Closure and E-Voting published in newspapers
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment 10 Sep - Board approved allotment of 2.75 crore shares to promoter Mona Viral Shah for ₹9.71 crore.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Aug - With reference to above, we are enclosing copy of newspaper advertisement for Financial Results published in Business Standard (English) and Jai Hind (Gujarati) on August …
Source: Bse
Annual report
Annual Report 2026
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.