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Last Updated: April 2, 2026, 4:53 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 513303 | NSE: MDRNSTL

Modern Steels Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹10.19Overvalued by 14.37%vs CMP ₹11.90

P/E (3.3) × ROE (28.4%) × BV (₹13.20) × DY (2.00%)

₹24.61Undervalued by 106.81%vs CMP ₹11.90
MoS: +51.6% (Strong)Confidence: 56/100 (Moderate)Models: 6 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹5.8926%Over (-50.5%)
Graham NumberEarnings₹32.6519%Under (+174.4%)
Earnings PowerEarnings₹32.2713%Under (+171.2%)
DCFCash Flow₹35.2016%Under (+195.8%)
Net Asset ValueAssets₹13.168%Under (+10.6%)
Earnings YieldEarnings₹35.908%Under (+201.7%)
ROCE CapitalReturns₹32.0210%Under (+169.1%)
Consensus (7 models)₹24.61100%Undervalued
Key Drivers: EPS CAGR -42.1% drags value — could be higher if earnings stabilize. | Wide model spread (₹6–₹36) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -42.1%

*Investments are subject to market risks

Investment Snapshot

66
Modern Steels Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health80/100 · Strong
ROCE 28.1% ExcellentROE 28.4% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 65.5% Stable
Earnings Quality50/100 · Moderate
OPM stable around 0% Steady
Quarterly Momentum70/100 · Strong
Profit (4Q): +461% YoY Strong
Industry Rank70/100 · Strong
P/E 3.3 vs industry 12.4 Cheaper than peersROCE 28.1% vs industry 16.0% Above peers3Y sales CAGR: -100% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:53 am

Market Cap 16.4 Cr.
Current Price 11.9
Intrinsic Value₹5.90
High / Low 21.7/10.4
Stock P/E3.33
Book Value 13.2
Dividend Yield0.00 %
ROCE28.1 %
ROE28.4 %
Face Value 10.0
PEG Ratio-0.08

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Modern Steels Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Modern Steels Ltd 16.4 Cr. 11.9 21.7/10.43.33 13.20.00 %28.1 %28.4 % 10.0
Kalyani Steels Ltd 2,667 Cr. 611 989/5749.94 4511.64 %15.6 %14.0 % 5.00
Ahmedabad Steelcraft Ltd 196 Cr. 130 303/11510.4 82.10.00 %21.4 %18.4 % 10.0
Sunflag Iron & Steel Company Ltd 3,841 Cr. 213 322/19217.6 4740.35 %3.95 %2.33 % 10.0
ISMT Ltd 3,612 Cr. 120 /20.8 54.40.00 %17.9 %12.1 % 5.00
Industry Average2,579.00 Cr185.2212.41180.780.33%16.00%25.34%8.33

All Competitor Stocks of Modern Steels Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Expenses 0.140.230.530.250.260.260.250.260.250.290.240.230.20
Operating Profit -0.14-0.23-0.53-0.25-0.26-0.26-0.25-0.26-0.25-0.29-0.24-0.23-0.20
OPM %
Other Income 10.552.710.180.250.211.230.220.220.234.820.470.310.30
Interest 0.050.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Profit before tax 10.362.48-0.350.00-0.050.97-0.03-0.04-0.024.530.230.080.10
Tax % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit 10.362.48-0.350.00-0.050.97-0.03-0.04-0.024.530.230.080.10
EPS in Rs 7.531.80-0.250.00-0.040.70-0.02-0.03-0.013.290.170.060.07

Last Updated: March 3, 2026, 7:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 17, 2026, 12:22 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 259.13313.00261.73309.01376.06321.57211.4683.53102.040.000.000.000.00
Expenses 253.87307.43248.45303.92400.76341.69257.37104.41101.840.551.291.050.96
Operating Profit 5.265.5713.285.09-24.70-20.12-45.91-20.880.20-0.55-1.29-1.05-0.96
OPM % 2.03%1.78%5.07%1.65%-6.57%-6.26%-21.71%-25.00%0.20%
Other Income 3.676.892.002.551.661.850.383.7180.3814.621.875.495.90
Interest 19.8425.0327.134.861.791.770.390.460.860.240.000.000.00
Depreciation 4.675.835.395.365.415.174.864.873.590.000.000.000.00
Profit before tax -15.58-18.40-17.24-2.58-30.24-25.21-50.78-22.5076.1313.830.584.444.94
Tax % -31.51%-33.91%94.72%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit -10.67-12.16-33.57-2.58-30.24-25.21-50.78-22.5076.1313.830.584.444.94
EPS in Rs -8.47-8.84-24.39-1.87-21.97-18.32-36.90-16.3555.3210.050.423.233.59
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-13.96%-176.07%92.31%-1072.09%16.63%-101.43%55.69%438.36%-81.83%-95.81%665.52%
Change in YoY Net Profit Growth (%)0.00%-162.10%268.38%-1164.41%1088.73%-118.06%157.12%382.66%-520.19%-13.97%761.32%

Modern Steels Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:%
Compounded Profit Growth
10 Years:9%
5 Years:16%
3 Years:-61%
TTM:428%
Stock Price CAGR
10 Years:8%
5 Years:33%
3 Years:4%
1 Year:-7%
Return on Equity
10 Years:%
5 Years:%
3 Years:69%
Last Year:28%

Last Updated: September 5, 2025, 3:51 pm

Balance Sheet

Last Updated: December 4, 2025, 3:08 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 12.6013.7613.7613.7613.7613.7613.7613.7613.7713.7713.7713.7714.40
Reserves 21.639.97-23.60-24.18-56.72-82.01-131.37-92.27-14.77-0.94-0.374.073.74
Borrowings 160.27173.78185.33187.59189.20186.91184.6352.867.041.270.200.200.21
Other Liabilities 38.5562.9746.0757.9643.1251.7545.65120.710.330.180.310.760.97
Total Liabilities 233.05260.48221.56235.13189.36170.41112.6795.066.3714.2813.9118.8019.32
Fixed Assets 51.2677.6672.9068.5062.5259.1354.5749.990.060.060.060.060.06
CWIP 21.220.000.000.000.280.280.280.670.000.000.000.000.00
Investments 7.034.854.850.030.130.030.030.030.030.030.030.030.03
Other Assets 153.54177.97143.81166.60126.43110.9757.7944.376.2814.1913.8218.7119.23
Total Assets 233.05260.48221.56235.13189.36170.41112.6795.066.3714.2813.9118.8019.32

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -13.539.2516.60-12.50-10.983.481.29132.73-3.310.343.273.63
Cash from Investing Activity + -19.48-1.461.039.072.27-0.110.07-0.4452.470.00-1.73-4.56
Cash from Financing Activity + 36.05-10.58-19.0712.91-0.06-4.06-2.27-132.37-48.87-0.24-1.070.00
Net Cash Flow 3.04-2.79-1.449.48-8.77-0.69-0.91-0.080.290.100.46-0.93
Free Cash Flow -36.38-1.7415.97-13.18-10.711.700.99132.0649.000.343.273.63
CFO/OP -250%172%127%-242%44%-16%-3%-633%-3,030%-62%-253%-346%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-155.01-168.21-172.05-182.50-213.90-207.03-230.54-73.74-6.84-1.82-1.49-1.25

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 88.7593.9491.3998.5670.2563.7243.4561.790.00
Inventory Days 123.66113.70160.19122.9967.7576.6357.97244.420.00
Days Payable 66.3391.6582.2596.5537.1365.5988.16454.07
Cash Conversion Cycle 146.08116.00169.33125.00100.8674.7713.26-147.860.00
Working Capital Days 25.30-4.27-40.01-13.31-108.87-151.13-303.21-578.68-5.40
ROCE %2.45%1.61%5.34%1.08%-17.59%-17.70%-54.28%-106.55%189.97%4.19%28.07%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 65.53%65.53%65.53%65.53%65.53%65.53%65.53%65.53%65.53%65.53%65.53%65.53%
DIIs 0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%0.05%
Public 34.42%34.41%34.41%34.42%34.42%34.40%34.40%34.42%34.42%34.42%34.42%34.43%
No. of Shareholders 6,9037,2017,9088,6999,2259,4909,7329,7919,7949,8009,7859,722

Shareholding Pattern Chart

No. of Shareholders

Modern Steels Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 3.230.4110.0556.3128.07
Diluted EPS (Rs.) 3.230.4110.0556.3128.07
Cash EPS (Rs.) 3.080.409.6056.3130.30
Book Value[Excl.RevalReserv]/Share (Rs.) 12.389.308.90-0.70-54.52
Book Value[Incl.RevalReserv]/Share (Rs.) 12.389.308.90-0.70-54.52
Revenue From Operations / Share (Rs.) 0.000.000.0070.8658.01
PBDIT / Share (Rs.) 3.080.4013.2855.96-11.92
PBIT / Share (Rs.) 3.080.4013.2853.47-15.30
PBT / Share (Rs.) 3.080.409.6053.8226.92
Net Profit / Share (Rs.) 3.080.409.6053.8226.92
PBDIT Margin (%) 0.000.000.0078.96-20.54
PBIT Margin (%) 0.000.000.0075.45-26.37
PBT Margin (%) 0.000.000.0075.9546.40
Net Profit Margin (%) 0.000.000.0075.9546.40
Return on Networth / Equity (%) 24.884.30107.89-7673.26-49.36
Return on Capital Employeed (%) 24.894.30149.22-7622.7728.86
Return On Assets (%) 23.614.1496.861216.6440.77
Total Debt / Equity (X) 0.010.010.09-6.970.00
Asset Turnover Ratio (%) 0.000.000.002.010.80
Current Ratio (X) 5.5026.699.720.850.22
Quick Ratio (X) 5.5026.699.720.850.13
Inventory Turnover Ratio (X) 0.000.000.001.251.15
Interest Coverage Ratio (X) 3171.29824.1479.0593.70-37.30
Interest Coverage Ratio (Post Tax) (X) 3171.29824.1479.0589.52-47.89
Enterprise Value (Cr.) 21.8927.1419.6540.835.50
EV / Net Operating Revenue (X) 0.000.000.000.400.06
EV / EBITDA (X) 4.9347.041.030.50-0.32
MarketCap / Net Operating Revenue (X) 0.000.000.000.330.06
Price / BV (X) 1.222.081.47-33.88-0.07
Price / Net Operating Revenue (X) 0.000.000.000.330.06
EarningsYield 0.200.020.732.276.90

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Modern Steels Ltd. is a Public Limited Listed company incorporated on 19/11/1973 and has its registered office in the State of Punjab, India. Company's Corporate Identification Number(CIN) is L27109PB1973PLC003358 and registration number is 003358. Currently Company is involved in the business activities of Manufacture of hot-rolled and cold-rolled products of steel. Company's Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 14.40 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - RollingG.T. Road, Fatehgarh Sahib District Punjab 147301Contact not found
Management
NamePosition Held
Mr. Krishan Kumar GoyalChairman & Managing Director
Prof. Satish Kumar KapoorIndependent Director
Prof. Avtar Krishan VashistIndependent Director
Prof. Anupama SharmaIndependent Director

FAQ

What is the intrinsic value of Modern Steels Ltd and is it undervalued?

As of 03 April 2026, Modern Steels Ltd's intrinsic value is ₹24.61, which is 106.81% higher than the current market price of ₹11.90, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (28.4 %), book value (₹13.2), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Modern Steels Ltd?

Modern Steels Ltd is trading at ₹11.90 as of 03 April 2026, with a FY2026-2027 high of ₹21.7 and low of ₹10.4. The stock is currently near its 52-week low. Market cap stands at ₹16.4 Cr..

How does Modern Steels Ltd's P/E ratio compare to its industry?

Modern Steels Ltd has a P/E ratio of 3.33, which is below the industry average of 12.41. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Modern Steels Ltd financially healthy?

Key indicators for Modern Steels Ltd: ROCE of 28.1 % indicates efficient capital utilization; ROE of 28.4 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Modern Steels Ltd profitable and how is the profit trend?

Modern Steels Ltd reported a net profit of ₹4 Cr in Mar 2025. Compared to ₹76 Cr in Mar 2022, the net profit shows a declining trend.

Does Modern Steels Ltd pay dividends?

Modern Steels Ltd has a dividend yield of 0.00 % at the current price of ₹11.90. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Modern Steels Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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