| Stake Increase | 2.20%Market Buy |
|---|---|
| Post-Acquisition Holding | 6.61%Aggregate Stake |
| P/E Ratio | 2.47xSector 18.68x |
| Market Cap | ₹181.15 CrMetals & Mining |
Key highlights
- Promoter group acquired 4,35,576 equity shares representing 2.20% of the total capital
- Aggregate shareholding rose from 4.41% to 6.61% following the transaction
- Acquisition was executed through open market purchases on September 9, 2026
- Disclosure filed under Regulation 29(1) of SEBI Substantial Acquisition of Shares and Takeovers Regulations
- Transaction involves two directors and five associate companies acting in concert
What the Promoters Bought
Directors Bhadresh J. Shah and Manish J. Shah, acting in concert with five associate entities, acquired 4,35,576 equity shares of Shah Alloys Limited through open market transactions on September 9, 2026.
This acquisition represents 2.20 percent of the company's total equity share capital. Consequently, the aggregate holding of the acquirers and Persons Acting in Concert increased from 8,72,983 shares or 4.41 percent to 13,08,559 shares or 6.61 percent. The crossing of the 5 percent shareholding threshold triggered a formal disclosure under Regulation 29(1) of the SEBI Substantial Acquisition of Shares and Takeovers Regulations, 2011.
Shareholding Picture
- Raviraj Developers Limited holds the largest individual block among PACs with 5,95,131 shares or a 3.01 percent stake
- Atrun Fiscal Private Limited maintains an interest of 1,68,802 equity shares representing 0.85 percent
- Darshan Financial Services Private Limited holds 1,77,636 shares following the current acquisition
- Directors Manishkumar Jashwantlal Shah and Bhadreshkumar Jashwantlal Shah hold 0.57 percent and 0.46 percent respectively
- Remaining holdings are distributed across Tejash Finstock Private Limited and CEE Note Credit Caplease Limited
Business Overview
Shah Alloys Limited is a primary producer of specialty steel, focusing on stainless steel, alloy and special steel, carbon/mild steel, and armour steel. The company operates a manufacturing facility in Santej, Gandhinagar, capable of producing both flat and long products including hot and cold rolled coils, sheets, plates, and bright bars. Its product range serves diverse sectors such as defense, engineering, and infrastructure.
Recently, the board proposed a strategic shift, seeking shareholder approval to evaluate the restructuring or monetisation of its steel plant assets while exploring entry into commodity trading and real estate development business verticals.
Financial Context
The company reports a trailing twelve-month net profit of 73.36 crore against operating revenue of 37.51 crore. Shah Alloys is currently trading at a P/E ratio of 2.47, compared to the broader sector P/E of 18.68 and an industry average of 21.32. The price-to-book value stands at 1.64.
Market capitalisation is recorded at 181.15 crore, with a Piotroski score of 5, indicating moderate financial strength. While quarterly operating margins have faced pressure, the management is concurrently seeking a special resolution for strategic alternatives regarding its Iron and Steel Plant operations at Santej, Gujarat.
“We, Mr. Manishkumar Jashwantlal Shah and Mr. Bhadreshkumar Jashwantlal Shah, hereby submit this disclosure pursuant to Regulation 29(1) read with Regulation 29(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in respect of the acquisition and aggregate shareholding/voting rights in Shah Alloys Limited.”
| Share price | ₹91.5 |
|---|---|
| Market capitalisation | ₹181.15 Cr |
| Revenue (annual) | ₹37.27 Cr |
| Net profit (annual) | ₹72.60 Cr |
| Revenue (latest quarter) | ₹0.24 Cr-36.84% vs previous quarter |
| Net profit (latest quarter) | -₹2.07 Cr-146.52% vs previous quarter |
| P/E (TTM) | 2.47×Sector 18.68× |
| Promoter holding | 53.75%0.00% QoQ |
| FII holding | 0%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Shah Alloys Limited announcing disclosure received under Regulation 29(1) of SEBI SAST Regulations. Market figures from a third-party data provider.
