National Steel & Agro Industries (Delisted) share price

BSE: 513179Industrial Products

National Steel & Agro Industries Ltd. · Formerly National Steel Industries · Face value ₹10 · Listed Aug 1987

Last traded ₹3.95 on 19 May 2023

Delisted on 27 Jun 2023.

Last announcements

The company's own last announcements before its shares stopped trading, routine notices left out.

  1. Jul 2023

  2. Jun 2023

    • 20 Jun · Delisting

      Members of the Exchange are hereby informed that the admission to dealings in securities of the company National Steel and Agro Industries Limited (NATNLSTEEL) shall be withdrawn (delisted) w.e.f. June 27, 2023 pursuant to Hon ble National Company Law Tribunal (NCLT) order dated May 19, 2023.

  3. May 2023

Share price history

Daily closes since Jan 2007, BSE closes Jan 2007 to Jul 2007, Jul 2007 to Feb 2008, Feb 2008 to May 2008, May 2008 to Jul 2010, in Sep 2015, in Jan 2020, in Feb 2020, in Feb 2020, in Apr 2020, in Jul 2020, in Nov 2021, Nov 2021 to Dec 2021 and in May 2022, adjusted for splits and bonuses

Daily close, ₹ per share

Q3 results, quarter to Dec 2022

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

Revenue
₹166 Cr−17.1% on a year ago · −7.8% on the quarter before
Operating profit
−₹8.66 Cr
Net profit
−₹21 Cr
Earnings per share
−₹4.61
Operating margin
−5.2%
Net margin
−12.4%

From revenue to net profit, ₹ crore

  1. Revenue166
  2. Materials and goods−127
  3. Employee costs−9.2
  4. Other expenses−39
  5. Operating profit−8.7
  6. Depreciation−12
  7. Other income+0.2
  8. Finance costs0.0
  9. Profit before tax−21
  10. Tax0.0
  11. Net profit−21

National Steel & Agro Industries results by quarter

Standalone: the listed company alone, without its subsidiaries. Latest quarter to Dec 2022. Results for the quarter to Mar 2023 were due by 30 May 2023, 60 days after it ends. Every company's dates are on the results calendar.

Revenue and net profit by quarter, ₹ crore

  • Revenue
  • Net profit
  • Loss
348−153Mar 20269−70Jun 20519−48Sep 20540−58Dec 20250−52Mar 21249−103Jun 212083.3Sep 21200−28Dec 21159−87Mar 22121−15Jun 22180−12Sep 22166−21Dec 22
Peak revenue ₹540 Cr, quarter to Dec 2020; lowest ₹121 Cr, quarter to Jun 2022A loss in 11 of the 12 quarters shown

Operating and net margin by quarter, per cent

  • Operating margin
  • Net margin
12.6%−54.8%−13.7%−3.5%0.1%0.8%−4.1%−6.7%−0.5%2.5%12.6%−3.2%0.3%−5.2%−44.1%−26.2%−9.2%−10.7%−20.7%−41.3%1.6%−14.2%−54.8%−12.6%−6.7%−12.4%Mar 20Sep 20Mar 21Sep 21Mar 22Sep 22Dec 22
₹ croreMar 2018Jun 2018Q1Sep 2018Dec 2018Q3Mar 2019Jun 2019Q1Sep 2019Dec 2019Q3Mar 2020Jun 2020Q1Sep 2020Dec 2020Q3Mar 2021Jun 2021Q1Sep 2021Dec 2021Q3Mar 2022Jun 2022Q1Sep 2022Dec 2022Q3
Revenue from operations999466290197129346281334348269519540250249208200159121180166
1,176472316305146325283327396279519535260265209195139125179175
Materials and goods bought1,1124382711851102912512873062354594831901981661479076132127
Employee costs1412129107898788109109910109
Other expenses49223211127272431823752446159333940403839
Operating profit before depreciation−177−7−25−109−1721−27−48−905−10−17−1520−41−9
Operating margin−17.7%−1.4%−8.8%−55.1%−13.0%6.0%−0.9%2.0%−13.7%−3.5%0.1%0.8%−4.1%−6.7%−0.5%2.5%12.6%−3.2%0.3%−5.2%
Depreciation and amortisation3712121212121212121212121212121212121212
Other income5618020001505210002100
Finance costs41274432444244415645515349106162154000
Profit before one-off items and tax−250−40−64−152−72−33−58−47−100−66−58−58−71−134−29−28−44−15−12−21
One-off items00000000000000330−40000
Profit before tax−250−40−64−152−72−33−58−47−100−66−58−58−71−1343−28−85−15−12−21
−89000−86000545−10−1−19−31002000
Tax rate––––––––––––––0.0%–––––
Net profit−161−40−64−15115−33−58−47−153−70−48−58−52−1033−28−87−15−12−21
Other comprehensive income1000−1000−1000−5−1−1−12000
Total comprehensive income−160−39−63−15114−33−58−46−154−71−48−58−57−1042−30−84−16−12−21
Net margin−16.1%−8.6%−22.0%−76.9%11.4%−9.5%−20.6%−14.0%−44.1%−26.2%−9.2%−10.7%−20.7%−41.3%1.6%−14.2%−54.8%−12.6%−6.7%−12.4%
Earnings per share−₹36.10−₹8.97−₹14.35−₹34.04₹3.32−₹7.39−₹13.03−₹10.48−₹34.48−₹15.82−₹10.71−₹12.95−₹11.61−₹23.11₹0.74−₹6.39−₹19.53−₹3.43−₹2.70−₹4.61
Earnings per share in rupees, restated for later splits and bonuses.

10 years at a glance

Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
  • Loss
3,48426Mar 133,49928Mar 143,88428Mar 153,75025Mar 163,98021Mar 174,242−143248Mar 181,082−2401,166Mar 191,309−2911,339Mar 201,578−2271,502Mar 21815−2151,537Mar 22
Peak revenue ₹4,242 Cr, year to Mar 2018; lowest ₹815 Cr, year to Mar 2022A loss in 5 of the 10 years shown

Operating and net margin, per cent

  • Operating margin
  • Net margin
5.1%−26.4%4.8%5.1%4.7%4.1%4.2%−1.3%−14.6%−1.7%−0.9%0.9%0.8%0.8%0.7%0.7%0.5%−3.4%−22.2%−22.2%−14.4%−26.4%Mar 13Mar 15Mar 17Mar 19Mar 21Mar 22

Results for the year to Mar 2022

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

  1. Revenue815
  2. Materials and goods−601
  3. Employee costs−37
  4. Other expenses−170
  5. Operating profit7.4
  6. Depreciation−48
  7. Other income+2.3
  8. One-off items−40
  9. Finance costs−165
  10. Profit before tax−244
  11. Tax+29
  12. Net profit−215

What the company owns

  • Plant, investments and other assets₹472 Cr
  • Inventory₹13 Cr
  • Receivables₹13 Cr
  • Cash and bank₹4 Cr

What pays for it: net worth and liabilities

  • Borrowings₹1,537 Cr
  • Owed to suppliers₹238 Cr

Profit and loss

Standalone, ₹ crore, years to March. The last column is the twelve months to Dec 2022, the latest four quarters added.

₹ croreMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Dec 2022Twelve months
Revenue from operations3,4843,4993,8843,7503,9804,2421,0821,3091,578815626
3,3163,3213,7013,5983,8124,2971,2391,3311,593808618
Materials and goods bought3,0713,0873,4383,3283,5754,0261,0051,1361,367601424
Employee costs3638454851534332333737
Other expenses209196219222186218192164193170156
Operating profit before depreciation169179183152169−55−157−22−1578
Operating margin4.8%5.1%4.7%4.1%4.2%−1.3%−14.6%−1.7%−0.9%0.9%1.3%
Materials, % of revenue88.1%88.2%88.5%88.7%89.8%94.9%92.9%86.8%86.6%73.7%67.7%
Employee costs, % of revenue1.0%1.1%1.2%1.3%1.3%1.3%4.0%2.4%2.1%4.5%6.0%
Other expenses, % of revenue6.0%5.6%5.6%5.9%4.7%5.1%17.7%12.5%12.2%20.8%25.0%
Depreciation and amortisation1921151516504949494848
Operating profit after depreciation150158168138152−105−206−71−63−41−40
Other income004115152616823
Finance costs11311512312313513414718219816555
Profit before one-off items and tax3743481633−224−327−237−253−204−92
One-off items–––24–0000−40−40
Profit before tax3743484033−224−327−237−253−244−132
813181012−81−8754−25−292
Net profit2628282521−143−240−291−227−215−135
Other comprehensive income–––––210−5−11
Total comprehensive income–––––−141−240−291−233−216−133
Net margin0.8%0.8%0.7%0.7%0.5%−3.4%−22.2%−22.2%−14.4%−26.4%−21.5%
Earlier years, Mar 2008 to Mar 2012
₹ croreMar 2008Mar 2009Mar 2010Mar 2011Mar 2012
Revenue from operations2,2652,2232,3122,5472,785
2,1792,2582,1912,4132,634
Materials and goods bought1,9081,3881,9492,2392,425
Employee costs17–212830
Other expenses253–221147179
Operating profit before depreciation86−34121134151
Operating margin3.8%−1.6%5.2%5.3%5.4%
Materials, % of revenue84.3%–84.3%87.9%87.1%
Employee costs, % of revenue0.8%–0.9%1.1%1.1%
Other expenses, % of revenue11.2%–9.5%5.8%6.4%
Depreciation and amortisation2117181818
Operating profit after depreciation65−52103117133
Other income20010
Finance costs25287678100
Profit before one-off items and tax–−79273934
One-off items–−10–––
Profit before tax42−89273934
Tax170275
Net profit25−92223026
Net margin1.1%−4.1%1.0%1.2%0.9%
Standalone, ₹ crore, years to March.

Balance sheet

Standalone, ₹ crore, at 31 March. The last column is the half year to Sep 2022, after the latest full year: the balance sheet at its end.

₹ croreMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Sep 2022Half year
−514−754−1,019−1,256−1,472−1,500
Share capital454545454545
Reserves−559−799−1,063−1,300−1,516−1,544
2481,1661,3391,5021,5371,537
1,8161,5651,6391,7851,9651,977
14763928188
Total assets1,449873712610501486
606562513467431412
8423112001437074
Net debt1471,1571,3311,4931,5331,532
Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2013, Mar 2014, Mar 2015, Mar 2016 and Mar 2017, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March. The last column is the half year to Sep 2022, after the latest full year: the cash flow over its six months.

₹ croreMar 2021Mar 2022Sep 2022Half year
361262
361267
431589
Receivables50−1012
Inventories1357−31
Payables−19533
Other working capital−15825
Capital spending220
Free cash flow341242
−200
−35−1300
Dividends paid000
Shares bought back000
Shares issued000
Net change in cash0−42
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2013, Mar 2014, Mar 2015, Mar 2016, Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Per share

Standalone, ₹ per share, years to March.

₹ per shareMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Earnings per share₹5.92₹6.27₹6.20–₹4.04−₹32.11−₹54.03–−₹51.10−₹48.29
Diluted earnings per share₹5.92₹6.27₹6.20–₹4.04−₹32.11−₹54.03–−₹51.10−₹48.29
Book value per share–––––−₹115.59−₹169.51–−₹282.15−₹330.77
Shareholder yield––––––––0.0%0.0%
Market cap at the year end (₹ crore)556463–1131272451619
Earnings per share is left blank for the year to Mar 2020: the earnings per share stated has the opposite sign to the profit stated beside it, so it is not shown.

Ratios

Standalone, years to March.

RatioMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue growth25.1%0.4%11.0%−3.4%6.1%6.6%−74.5%21.0%20.6%−48.4%
Operating profit growth11.8%5.9%2.4%−16.7%10.6%–––––
Net profit growth0.6%6.0%−1.2%−7.5%−19.1%–––––
Earnings per share growth0.7%5.9%−1.1%–––––––
–––––27.8%37.9%32.8%20.0%15.8%
––––––10.1 pts−5.1 pts−12.8 pts−4.2 pts
From the net margin––––––155.5 pts0.0 pts−11.5 pts16.6 pts
From asset turnover––––––−125.0 pts29.3 pts9.5 pts−14.1 pts
From borrowing––––––−20.4 pts−34.3 pts−10.7 pts−6.7 pts
Return on capital employed––––––−50.2%−22.1%−25.7%−62.1%
Interest cover1.31.41.41.11.1–––––
Receivable days–––––31551516
Inventory days–––––262827198
Payable days–––––130976750144
Cash conversion cycle, days–––––−72−13−25−31−131
Working capital days–––––−76−51−42−45−162
Asset turnover–––––2.930.931.652.391.47
Assets per rupee of net worth–––––−2.82−1.83−0.89−0.58−0.41
Sales per rupee of plant–––––7.071.962.603.461.99
Capital spending to depreciation––––––––0.040.04
Plant being built, % of plant in use–––––0.2%0.0%0.0%0.0%0.0%
Interest cover is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2021 and Mar 2022: operating profit after depreciation is a loss, and a loss covers no interest bill. Debt to equity is left blank for the years to Mar 2018, Mar 2019, Mar 2020, Mar 2021 and Mar 2022: net worth is below zero, so there is no shareholders' money to set the borrowings against. Return on capital employed is left blank for the year to Mar 2018: net worth and borrowings together come to nought or less, so there is no money employed to set the operating profit against. No balance sheet is on record for the years to Mar 2013, Mar 2014, Mar 2015, Mar 2016 and Mar 2017, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2022.

Return on assets, latest year
−38.7%
Cash from operations against operating profit
1,714.4%
Measure10 years5 years3 years
Revenue growth, yearly rate−11.6%−27.2%−9.0%
Return on equity, average–26.8%22.9%
Return on capital employed, average–−40.0%−36.7%
Operating margin, average0.5%−3.5%−0.6%
Net margin, average−8.5%−17.7%−21.0%
Asset turnover, average–1.871.84
Cash conversion cycle, days, average–−55−63

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2022.

₹ croreLatest year
Cash from operations126
Cash from investing0
Cash from financing−130
Capital spending2
Dividends paid0
Shares bought back0
Shares issued for cash0
Borrowings raised31
Borrowings repaid0

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Piotroski score, out of 9Published threshold 3 points out of 9––––––––65
Altman Z-scorePublished threshold 1.81–––––1.42−2.44–−3.92−7.66
Beneish M-scorePublished threshold −1.78––––––––−5.191.55
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––––––−39.59−61.35
Receivables growth less revenue growthOur threshold 0 percentage points––––––19.81−89.26−115.52423.65
Inventory growth less cost-of-goods growthOur threshold 0 percentage points––––––1.90−5.90−36.53−25.62
Other current assets growth less revenue growthOur threshold 5 per cent of revenue––––––−2.71−0.220.31−2.60
Assets under construction, years of additionsOur threshold 2 years of additions––––––0.00–0.000.00
Effective tax ratePublished threshold 17.16 per cent22.0229.4337.7125.2036.65–––––
A threshold marked as ours has no published figure; it is the line we read the check against.

Business segments

In the year to Mar 2022 the company reports one business segment, Manufacturing, which carries all its revenue.

Where the return came from

Yearly rates to Mar 2022, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+16.4%––0.0%
3 years−7.1%––0.0%
5 years−30.1%––0.0%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record.

Who owns National Steel & Agro Industries, filing by filing

Per cent of the company's shares. Every filing on record, from Sep 2021; the latest is the filing for Mar 2023.

Mar 2023 filing

  • Promoters49.85%
  • Foreign institutionsNone
  • Indian institutions0.11%
  • Individuals and others50.03%

Shareholding pattern, per cent, from Sep 2022

  • Promoters
  • Foreign institutions
  • Indian institutions
  • Individuals and others
50.03%0.00%49.85%49.85%49.85%0.00%0.11%0.11%0.11%50.03%50.03%50.03%Sep 22Dec 22Mar 23
Per centSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023
49.85%49.85%49.85%49.85%49.85%49.85%49.85%
Indian promoters49.72%49.72%49.72%49.72%49.72%49.72%49.72%
Foreign promoters0.13%0.13%0.13%0.13%0.13%0.13%0.13%
50.15%50.15%50.15%50.15%50.15%50.15%50.15%
Shares in issue4,45,00,0004,45,00,0004,45,00,0004,45,00,0004,45,00,0004,45,00,0004,45,00,000
Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of National Steel & Agro Industries shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

27,660Sep 2127,984Dec 2127,875Mar 2227,765Jun 2227,719Sep 2227,648Dec 2227,934Mar 23
ShareholdersSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023
All shareholders27,66027,98427,87527,76527,71927,64827,934
21212121212121
Indian promoters20202020202020
Foreign promoters1111111
27,63927,96327,85427,74427,69827,62727,913
Filings before Sep 2022 are on an older form, which did not split institutions into foreign and Indian and grouped some holders differently, so those columns show only the lines both forms state alike. A dash is a line the filing did not state.

National Steel & Agro Industries promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Mar 2023; the largest is Santosh Shahra, 22.60%. The filing names 12 more members with no shares.

Holder
Santosh ShahraIndividuals and Hindu undivided families22.60%1,00,55,2570.00%
NSIL Infotech Private Limited(Formally known as NSIL Infotech Limited)Indian companies, trusts and others9.29%41,35,9000.00%
Shahra Brothers Pvt. Ltd.Indian companies, trusts and others5.12%22,78,1170.00%
Ruchi Infrastructure LimitedIndian companies, trusts and others3.08%13,71,8000.00%
Nutrela Marketing Pvt. Ltd.Indian companies, trusts and others2.74%12,20,0000.00%
APL International Private LimitedIndian companies, trusts and others2.06%9,16,8000.00%
Ruchi Soya Industries LimitedIndian companies, trusts and others1.99%8,83,5000.00%
Vishal Soyamul Pvt.Ltd.Indian companies, trusts and others1.06%4,72,8000.00%
Sarthak Global Ltd.Indian companies, trusts and others0.38%1,67,1500.00%
Abhadevi ShahraIndividuals and Hindu undivided families0.34%1,53,0390.00%
Mahakosh Holdings Pvt. Ltd.Indian companies, trusts and others0.34%1,50,0000.00%
Suyash Shahra (Trustee of Shashwat Trust)Indian companies, trusts and others0.21%92,3500.00%
Pledged is the share of the holder's own shares pledged to a lender.

Largest public holders of National Steel & Agro Industries, filing by filing

Per cent, on the same shares as the split above.

HolderSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023
SANGEETHA SResident individuals, over ₹2 lakh at face value3.31%3.30%3.29%3.29%3.29%3.29%3.29%
BHAGYASHREE INFRASTRUCTURE PRIVATE LIMITEDCompanies2.25%2.25%2.25%2.25%2.25%3.25%3.25%
HITESH RAMJI JAVERIResident individuals, over ₹2 lakh at face value––1.45%1.45%1.45%1.45%1.45%
HARSHA HITESH JAVERIResident individuals, over ₹2 lakh at face value1.35%1.35%1.35%1.35%1.35%1.35%1.35%
MAXWORTH LEAFIN & INVESTMENT PVT LTDCompanies1.00%1.00%1.00%1.00%1.00%––
Hitesh Ramji ZaveriResident individuals, over ₹2 lakh at face value1.45%1.45%–––––
A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.

National Steel & Agro Industries share price by year

Each calendar year to 2023.

YearClose at year endChangeHighest closeLowest close
20233.95+11.3%5.103.05
2022BSE close3.55−33.0%7.102.80
2021BSE close5.30+76.7%6.603.15
2020BSE close3.00+50.0%4.901.05
20192.00−73.0%7.151.75
20187.40−82.8%45.856.70
201743.10+128.0%46.9519.75
201618.90+35.0%25.0510.20
2015BSE close14.00−17.9%20.0012.95
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. The 2023 close is its last trade, on 19 May 2023.

Recent sessions

The 10 trading days to 19 May 2023, as traded on BSE.

DateOpenHighLowCloseAverage priceVolume
19 May 20234.054.103.903.953.9613,918
18 May 20233.954.103.804.054.045,189
17 May 20233.753.953.753.953.9312,375
16 May 20233.653.803.603.803.669,996
15 May 20233.453.753.453.653.6931,554
12 May 20233.603.653.553.603.605,371
11 May 20233.503.653.503.653.511,485
10 May 20233.503.603.453.503.512,610
9 May 20233.703.703.453.453.521,073
8 May 20233.703.703.403.603.507,557
Prices in ₹ per share as traded, not adjusted.

Company details

BSE code
513179
ISIN
INE088B01015
Industry
Industrial Products
Former symbols
NATNLSTEEL
Website
www.nsail.com
CIN
L27100MH1985PLC140379
Corporate identity number, the registrar of companies' code for it
Incorporated
1985
Registered office
621, Tulsiani Chamber, Nariman Point, Mumbai 400021, Maharashtra
Share registrar
Sarthak Global Ltd
Keeps the register of shareholders and handles transfers and dividend payments