Sunflag Iron and Steel Company share price
NSE: SUNFLAGBSE: 500404Industrial ProductsSmall Cap
Sunflag Iron and Steel Company Limited · Formerly Sunflag Iron and Steel Co. · Face value ₹10 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Jun 1988 on BSE, Sep 2005 on NSE
Last close ₹391.95down ₹14.40 (3.54%)BSE ₹392.50
Share price at the NSE close on 30 Oct 2026. Previous close ₹406.35.
30 Oct: open ₹409.00, high ₹409.00, low ₹390.00
52-week range of traded prices to 30 Oct 2026
₹192.15Low, 30 Mar 2026₹479.10High, 7 Oct 2026
- Under NSE's short-term additional surveillance, stage I, on the list for 30 Oct 2026. The exchange puts a share here when its price has moved unusually, and trading in it carries extra conditions.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹7,064 Cr768th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 34.32
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 0.80
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.26%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 2.3%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 3.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.05
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,00,24066.3% delivered
About Sunflag Iron and Steel Company
Sunflag Iron and Steel Company Limited makes special steel rolled products at an integrated steel plant (one that makes iron, steel and rolled products on one site) at Warthi, Bhandara, in Maharashtra.12 It supplies flat bars, round bars, bright bars and wire rods in alloy steel, spring steel, ball bearing steel, valve steel and stainless steel.3
Its electro slag refining, vacuum induction melting and vacuum arc remelting facilities (specialised melting methods that make cleaner, higher-grade steel) serve nuclear, aerospace and defence customers.4 It has one operating segment, the iron and steel business, and its operations are mainly within India.5 It was incorporated in 1984 and has its registered office in Nagpur.16 Its subsidiaries include Sunflag Power Limited and Khappa Coal Company Private Limited.7 Its joint ventures include Daido D.M.S. India Private Limited, which makes die and mold steel, and Ramesh Sunwire Private Limited, which makes alloy steel wire for the automobile and auto component industries.8 At the end of Mar 2026, the promoter and promoter group held 45.53% (foreign holders) and 5.62% (Indian holders) of the shares, including 36.21% held by Sunflag Limited, Channel Islands, UK.910 Daido Steel Co. Ltd., Japan, its partner in the Daido D.M.S. India joint venture, held 10.00% at the end of Mar 2026.810
Sunflag Iron and Steel Company key points
Results
- Revenue. On a consolidated basis, revenue from operations was ₹3,93,938 lakh in the year to Mar 2026, against ₹3,53,559 lakh a year earlier.11
- Profit. On a consolidated basis, profit before tax was ₹29,917 lakh and profit attributable to equity shareholders was ₹20,237 lakh in the year to Mar 2026, against ₹21,148 lakh and ₹16,208 lakh a year earlier.1213
- Financial ratios the company lists in its management discussion1415Margins are profit as a share of revenue; the current ratio compares short-term assets with short-term liabilities, and the debt equity ratio borrowings with shareholders' equity.
Item year to Mar 2026 year to Mar 2025 Operating profit margin 9.01% 8.06% Net profit margin 5.09% 4.57% Debt equity ratio 0.05 times 0.06 times Current ratio 1.47 times 1.45 times
Where revenue comes from
- Consolidated revenue from operations by geography, in ₹ lakh16
Item year to Mar 2026 year to Mar 2025 Domestic 3,82,535 3,48,742 Foreign 11,403 4,817 - Export regions. The company regularly supplies customers in South East Asia, North and South America, South Africa, the European Union, Japan, Taiwan, Australia, Switzerland, the UK and Ireland.17
Plants and capacity
- Production in the year to Mar 2026, in tonnes unless stated18
Item year to Mar 2026 year to Mar 2025 Steel melting 4,97,506 4,79,429 Rolled products 4,67,540 4,49,117 Mini Blast Furnace hot metal and pig iron 4,71,652 4,02,530 Direct Reduction Plant 1,56,397 1,52,937 Coal, Belgaon coal block 1,03,860 1,17,820 Power plant, in lakh kWh 1,577.16 1,550.49 - Belgaon coal mine. As of its annual report of 1 Sep 2026, the Belgaon underground coal mine in Chandrapur, Maharashtra, has estimated reserves of 8.152 million tons, about 3.5 million tons extractable; depillaring (removing the coal pillars left to hold the roof) is in progress.19
- Solar power. The company has a long-term power delivery agreement with a ReNew Green joint venture, in which it holds 31.2%, for a 71.34 megawatt (MW) solar plant that became operational in December 2024.2021
Customers and partners
- Customer sectors. Its customers are spread across automobile, general engineering, machinery, projects, railway, defence and construction; the company says it primarily caters to the automotive sector and is focusing on expanding its market share in railways and defence.2223
- Customer concentration. No single customer contributed 10% or more of the company's revenue in either the year to Mar 2026 or the year to Mar 2025.24
- Vendor approvals. The company has earned vendor approvals (permission to supply) from VSSC, LPSC, HAL, BrahMos, DRDO, DRDL, NPCIL, Solar Industries, Paras Defence, HYT Innovatives, Adani Defence and global original equipment makers, for aerospace, defence, space and nuclear applications.25
Research and development
- R&D spending. Research and development spending was ₹104.13 lakh in the year to Mar 2026, which is 0.0264% of net turnover (revenue), against ₹121.20 lakh and 0.0343% a year earlier.26
- New grades. The company developed bearing grades, 17CrNiMo6 blocks for forging, valve steel 21-4N, large tool and die steels, the superalloy Inconel 625 and AMS 6509 for aerospace in the year to Mar 2026, and says some such special steels are not presently made in India.27
Expansion and capital spending
- The company stated in its annual report for the year to Mar 2026 that its ongoing projects are a 10 tonne solution annealing furnace and a 20 tonne electric annealing furnace for super alloys, and a 20 tonne post forging treatment furnace.28
- The company stated in its annual report for the year to Mar 2026 that it is expanding its presence in aerospace, defence, nuclear power, thermal power boilers and super alloys, and continues to evaluate securing coal and iron ore mines.29
- Capital commitments. On a consolidated basis, contracts remaining to be executed on capital account (spending on plant and equipment) and not provided for, net of capital advances, were ₹12,053 lakh at the end of Mar 2026, against ₹10,830 lakh a year earlier.30
Recent events
- Credit rating. On 14 Nov 2025, Crisil Ratings assigned the company's bank facilities of ₹1,850 crore a long-term rating of Crisil AA-/Stable and a short-term rating of Crisil A1+ (a credit rating is an agency's opinion of how likely a borrower is to repay).31
- Management. Pranav Bhardwaj was re-appointed Managing Director for a further 5 years, effective 17 Jan 2026.32
Litigation and regulatory matters
- Forest land petition. Among its mines' statuses, the annual report of 1 Sep 2026 says the Bombay High Court (Nagpur Bench) took up public interest petitions on the grant of 35.94 hectares of forest land for opencast mining in the Tiger Corridor; the matter was pending.33
- Civil matters. As of its annual report of 1 Sep 2026, civil matters of ₹1,501 lakh were not counted as contingent liabilities (possible future payments), as management believes a payment is remote; they mainly include a ₹1,100 lakh arbitral award and a ₹320 lakh stamp duty case.34
Last updated
All 34 sources, each with its page
- 1. Annual report, 1 Sep 2026, page 101
- 2. Annual report, 1 Sep 2026, page 35
- 3. Annual report, 1 Sep 2026, page 35
- 4. Annual report, 1 Sep 2026, page 35
- 5. Annual report, 1 Sep 2026, page 171
- 6. Annual report, 1 Sep 2026, page 5
- 7. Annual report, 1 Sep 2026, page 41
- 8. Annual report, 1 Sep 2026, page 20
- 9. Annual report, 1 Sep 2026, page 85
- 10. Annual report, 1 Sep 2026, page 162
- 11. Annual report, 1 Sep 2026, page 168
- 12. Annual report, 1 Sep 2026, page 165
- 13. Annual report, 1 Sep 2026, page 170
- 14. Annual report, 1 Sep 2026, page 38
- 15. Annual report, 1 Sep 2026, page 38
- 16. Annual report, 1 Sep 2026, page 171
- 17. Annual report, 1 Sep 2026, page 35
- 18. Annual report, 1 Sep 2026, page 19
- 19. Annual report, 1 Sep 2026, page 20
- 20. Annual report, 1 Sep 2026, page 29
- 21. Annual report, 1 Sep 2026, page 20
- 22. Annual report, 1 Sep 2026, page 40
- 23. Annual report, 1 Sep 2026, page 37
- 24. Annual report, 1 Sep 2026, page 171
- 25. Annual report, 1 Sep 2026, page 36
- 26. Annual report, 1 Sep 2026, page 29
- 27. Annual report, 1 Sep 2026, page 35
- 28. Annual report, 1 Sep 2026, page 29
- 29. Annual report, 1 Sep 2026, page 19
- 30. Annual report, 1 Sep 2026, page 171
- 31. Exchange filing, 15 Nov 2025, page 2
- 32. Annual report, 1 Sep 2026, page 67
- 33. Annual report, 1 Sep 2026, page 21
- 34. Annual report, 1 Sep 2026, page 171
Results
Consolidated; ₹ crore.Sunflag Iron and Steel Company quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +9.0%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +4.6%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,079 Crup 7.82%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹66 Crup 92.68%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 6.1%
Revenue by quarter
Peak revenue ₹1,079 Cr, quarter to Jun 2026; lowest ₹866 Cr, quarter to Sep 2024
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 866 | 892 | 883 | 1,023 | 973 | 942 | 1,001 | 1,079 |
| Net profit | 41 | 50 | 43 | 63 | 46 | 60 | 34 | 66 |
| Net margin | 4.7% | 5.6% | 4.9% | 6.1% | 4.7% | 6.4% | 3.4% | 6.1% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹3,939 Crup 11.42%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹202 Crup 24.86%
- Net margin
- 5.1%
Revenue by year
Net profit by year, a loss in red
The years either side of a change of basis do not compare. From the year to Mar 2020, the company's revenue for that year, ₹1,758 Cr, differs from its quarters added, ₹1,807 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,713 | 2,129what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹55 crore, a tax on the goods the company makes that it collects and pays to the government. | 2,229 | 1,758 | 1,892 | 2,698 | 3,488 | 3,415 | 3,536 | 3,939 |
| Net profit | 65 | 130 | 110 | 92 | 141 | 217 | 1,115 | 144 | 162 | 202 |
| Net margin | 3.8% | 6.1% | 4.9% | 5.2% | 7.4% | 8.0% | 32.0% | 4.2% | 4.6% | 5.1% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
In the year to Mar 2026 the company reports one business segment, ROLLED PRODUCTS, which carries all its revenue.
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2020: days before it are of the company before the change.Sunflag Iron and Steel Company PE ratio and valuation
Price to earnings
At or below today's level on 98% of 2,123 trading days over the last 10 years.
LowestHighest
Its median11.45Industry median17.36
Price to book
At or below today's level on 57% of 1,971 trading days since Nov 2018.
LowestHighest
Its median0.77Industry median1.58
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 74% of 2,479 trading days over the last 10 years.
LowestHighest
Its median0.00%Industry median0.52%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −16.8% | +24.9% | −33.8% | 0.5% |
| 3 years | +9.9% | −43.4% | +93.6% | 0.3% |
| 5 years | +25.5% | +7.6% | +16.6% | 0.2% |
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 over 3 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2023.
Mutual fund holdings
7 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 1 of the 1 fund that added or cut is an index fund, an ETF or an arbitrage fund: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 6
- CutCut. Funds that held fewer shares than at the end of the month before.
- 1
| Fund | |||
|---|---|---|---|
 Motilal Oswal Nifty Microcap 250 Index FundMotilal Oswal Mutual Fund | 1,78,171 | 0.34% | ₹8.13 Cr |
 Groww Nifty Total Market Index FundGroww Mutual Fund | 1,164 | 0.01% | ₹0.05 Cr |
 Angel One Nifty Total Market Index FundAngel One Mutual Fund | 194 | 0.01% | ₹88,470 |
| Motilal Oswal BSE 1000 Index FundMotilal Oswal Mutual Fund | 191 | 0.01% | ₹87,000 |
 Mirae Asset Nifty Total Market Index FundMirae Asset Mutual Fund | 160 | 0.02% | ₹73,000 |
 Bandhan Nifty Total Market Index FundBandhan Mutual Fund | 139 | 0.01% | ₹63,000 |
| Angel One Nifty Total Market ETFAngel One Mutual Fund | 135 | 0.01% | ₹61,570 |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 31 Oct 2025.Sunflag Iron and Steel Company insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade · 1 pledge filing of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Sunflag Iron and Steel Company competitors and peers
Iron & Steel Products, 145 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Sunflag Iron and Steel Company in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Godawari Power and IspatGPIL | 12,982 | 16.09 | 2.24 | +8.4% | +8.9% | 15.1% | 17.2% | 0.52% |
 Jayaswal Neco IndustriesJAYNECOIND | 8,454 | 12.28 | 2.55 | +18.3% | +82.8% | 23.4% | 25.3% | 0.00% |
 Maharashtra SeamlessMAHSEAMLES | 7,214 | 9.78 | 1.05 | −12.2% | – | 11.2% | 8.4% | 1.86% |
 Aeroflex IndustriesAEROFLEX | 7,098 | 79.33 | 14.27 | +55.0% | +87.0% | 20.9% | 24.1% | 0.07% |
 Technocraft Industries (India)TIIL | 5,858 | 17.25 | 2.90 | +12.4% | +33.2% | 17.9% | 14.2% | 0.77% |
 Shivalik Bimetal ControlsSBCL | 5,838 | 55.03 | 12.13 | +18.8% | +29.3% | 23.9% | 23.6% | 0.39% |
 Man Industries (India)MANINDS | 5,443 | 26.64 | 2.61 | +10.7% | +26.3% | 11.1% | 16.8% | 0.00% |
 Goodluck IndiaGOODLUCK | 4,923 | 23.37 | 2.82 | +18.8% | +27.6% | 13.4% | 11.9% | 0.41% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Sunflag Iron and Steel Company dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹1.00 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 11 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 12 Sep 2025 | Final | ₹0.75 |
| 5 Sep 2019 | Final | ₹0.50 |
| 6 Sep 2018 | Final | ₹0.50 |
| 30 Aug 2011 | Final | ₹0.50 |
| 2 Sep 2010 | Final | ₹0.50 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Sunflag Iron and Steel Company announcements
Sep 2026
30 Sep · Legal
The exchange asked on 29 Sep 2026
25 Sep · Meeting
Aug 2026
11 Aug · Corporate action
Sunflag Iron and Steel Company annual report, year to Mar 2026
Sunflag Iron and Steel Company share price by year
Each calendar year to 2025.Sunflag Iron and Steel Company share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 271.65 | +8.1% | 316.35 | 207.47 |
| 2024 | 251.38 | +20.1% | 284.88 | 181.85 |
| 2023 | 209.35 | +86.5% | 243.20 | 113.00 |
| 2022 | 112.25 | +61.6% | 128.05 | 60.35 |
| 2021 | 69.45 | +15.7% | 93.35 | 56.85 |
| 2020 | 60.05 | +58.9% | 62.35 | 22.35 |
| 2019 | 37.80 | −35.7% | 58.60 | 23.95 |
| 2018 | 58.80 | −25.7% | 97.65 | 51.50 |
| 2017 | 79.10 | +143.4% | 85.30 | 33.65 |
| 2016 | 32.50 | +34.9% | 41.15 | 18.75 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 29 Oct 2026 | 392.70 | 408.45 | 390.00 | 406.35 | 402.86 | 1,46,371 | 56.8% |
| 28 Oct 2026 | 414.00 | 422.50 | 387.25 | 394.20 | 404.15 | 3,78,633 | 47.0% |
| 27 Oct 2026 | 389.90 | 407.00 | 387.30 | 407.00 | 403.65 | 2,43,075 | 58.6% |
| 26 Oct 2026 | 374.90 | 393.60 | 369.80 | 387.65 | 386.58 | 2,74,247 | 59.7% |
| 23 Oct 2026 | 383.50 | 384.70 | 366.25 | 374.90 | 373.07 | 2,41,901 | 49.1% |
| 22 Oct 2026 | 378.75 | 397.55 | 374.00 | 385.50 | 383.36 | 2,51,264 | 47.6% |
| 21 Oct 2026 | 411.20 | 416.80 | 390.40 | 390.40 | 396.53 | 3,41,974 | 57.2% |
| 19 Oct 2026 | 432.00 | 434.00 | 408.90 | 410.90 | 418.13 | 1,82,187 | 63.5% |
| 16 Oct 2026 | 426.00 | 438.00 | 424.10 | 430.40 | 432.80 | 1,21,316 | 45.2% |
Prices in ₹ per share as traded, not adjusted.
Company details
- NSE symbol
- SUNFLAG
- BSE code
- 500404
- ISIN
- INE947A01014
- Industry
- Industrial Products
- Former symbols
- SUNFLAGIRN
- Website
- www.sunflagsteel.com
- CIN
- L27100MH1984PLC034003
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1984
- Registered office
- 33/1, Mount Road, Sadar, Nagpur 440001, Maharashtra
- Share registrar
- Bigshare Services Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments