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In this share market analysis blog you are going to get full financial and fundamental analysis of Indian Ferro Alloys Companies. Read it full.
Ferro Alloy Companies in India – Stock Data
| Company Name | Stock Price (₹) | Market Cap (₹ Cr) | Index Name | Net Profit (₹ Cr) |
|---|---|---|---|---|
| Maithan Alloys Ltd | 1,201.20 | 3,502.70 | NSE | 745.88 |
| Indian Metals & Ferro Alloys Ltd (IMFA) | 654.65 | 3,532 | NSE | 372.39 |
| Shyam Metalics and Energy Ltd | 853.00 | 23,849 | NSE | 909.00 |
| Visa Steel Ltd | 32.41 | 403 | NSE | -72.00 |
| Impex Ferro Tech Ltd | 3.66 | 31.92 | NSE | -0.26 |
| Balasore Alloys Ltd | 45.50* (estimated) | 250* (estimated) | NSE | -15.00* (estimated) |
| Ferro Alloys Corp Ltd (FACOR) | 12.80* (last traded) | 150* (estimated) | NSE (delisted?) | -50.00* (estimated) |
| Rohit Ferro-Tech Ltd | 5.25* (last traded) | 60* (estimated) | NSE (delisted?) | -30.00* (estimated) |
| Manaksia Ferro Industries Ltd | 120.75* (estimated) | 600* (estimated) | NSE | 25.00* (estimated) |
| GTV Engineering Ltd | 18.30* (estimated) | 75* (estimated) | NSE | -5.00* (estimated) |
Key Notes:
- Balasore Alloys, FACOR, Rohit Ferro-Tech – These companies may be suspended or delisted from exchanges; hence real-time data is unavailable.
- Manaksia Ferro & GTV Engineering – Smaller players with limited public data; estimates are based on industry averages.
- Negative Net Profit – Some companies (like Visa Steel, Impex Ferro) are loss-making due to high input costs or debt.
Fundamental & Financial Analysis of Ferro-Alloy Companies in India
Ferro-Alloy Companies in India – Financial Ratios (Estimated/Actual)
| Company Name | Debt/Equity | P/E | P/B | EPS (₹) | ROE (%) | ROA (%) | Div Yield (%) |
|---|---|---|---|---|---|---|---|
| Maithan Alloys Ltd | 0.05 | 4.7 | 0.65 | 255.50 | 13.8% | 12.1% | 2.5% |
| IMFA | 0.92 | 9.5 | 0.85 | 68.90 | 9.1% | 5.8% | 1.2% |
| Shyam Metalics & Energy Ltd | 0.75 | 26.2 | 3.10 | 32.55 | 11.8% | 7.5% | 0.8% |
| Visa Steel Ltd | 3.50 (High Debt) | N/A (Loss) | 1.20 | -12.40 | -18.5% | -6.2% | 0% |
| Impex Ferro Tech Ltd | 2.10 | N/A (Loss) | 0.45 | -0.50 | -5.3% | -2.1% | 0% |
| Balasore Alloys Ltd | 1.80* | N/A* | 0.60* | -8.20* | -7.5%* | -3.8%* | 0% |
| FACOR | 2.50* (High Debt) | N/A* | 0.30* | -15.00* | -22.0%* | -9.0%* | 0% |
| Rohit Ferro-Tech Ltd | 3.20* (High Debt) | N/A* | 0.25* | -10.50* | -30.0%* | -12.0%* | 0% |
| Manaksia Ferro Industries | 0.60* | 12.5* | 1.40* | 9.60* | 11.2%* | 6.5%* | 1.0%* |
| GTV Engineering Ltd | 1.20* | N/A* | 0.80* | -2.10* | -4.5%* | -2.8%* | 0% |
Ferro-Alloy Companies in India – Financial Ratio Analysis
1. Debt/Equity (D/E) Ratio
- What it means: Measures a company’s debt relative to shareholders’ equity.
- < 1: Low debt (safer).
- > 1: High debt (risky).
- Key Findings:
- Maithan Alloys (0.05) is nearly debt-free (very safe).
- Visa Steel (3.50), FACOR (2.50), Rohit Ferro-Tech (3.20) have dangerously high debt (risk of bankruptcy).
2. Price-to-Earnings (P/E) Ratio
- What it means: Shows how much investors pay for ₹1 of profit.
- < 15: Potentially undervalued.
- > 25: Expensive (high growth expectations).
- Key Findings:
- Maithan Alloys (P/E 4.7) is cheap compared to earnings.
- Shyam Metalics (P/E 26.2) is priced high, likely due to growth expectations.
- Visa Steel, Impex Ferro, FACOR have no P/E (they are loss-making).
3. Price-to-Book (P/B) Ratio
- What it means: Compares stock price to book value (net assets).
- < 1: Potentially undervalued.
- > 3: Overvalued.
- Key Findings:
- Maithan Alloys (P/B 0.65) trades below book value (good bargain).
- Shyam Metalics (P/B 3.1) is expensive relative to assets.
- FACOR (P/B 0.3), Rohit Ferro-Tech (P/B 0.25) are cheap but risky (high debt, losses).
4. Earnings Per Share (EPS)
- What it means: Profit per share. Higher = Better.
- Key Findings:
- Maithan Alloys (₹255.5) and IMFA (₹68.9) are highly profitable per share.
- Visa Steel (-₹12.4), FACOR (-₹15.0) are losing money per share.
5. Return on Equity (ROE)
- What it means: Profit generated from shareholders’ money.
- > 15%: Excellent.
- < 10%: Weak.
- Key Findings:
- Maithan Alloys (13.8%) and Shyam Metalics (11.8%) generate good returns.
- Visa Steel (-18.5%), FACOR (-22%) are destroying shareholder value.
6. Return on Assets (ROA)
- What it means: How efficiently a company uses assets to generate profit.
- > 5%: Good.
- Negative: Inefficient.
- Key Findings:
- Maithan Alloys (12.1%) is highly efficient.
- FACOR (-9%), Rohit Ferro-Tech (-12%) are burning assets.
7. Dividend Yield (%)
- What it means: Annual dividend as % of stock price.
- > 2%: Attractive for income investors.
- 0%: No dividends (common in loss-making firms).
- Key Findings:
- Maithan Alloys (2.5%) pays the highest dividend.
- IMFA (1.2%) offers a modest yield.
- Visa Steel, FACOR, Rohit Ferro-Tech pay nothing (they are struggling).
Key Takeaways for Investors for Indian Ferro – Alloy Companies of India
Best Performing Stocks
- Maithan Alloys
- Strengths: Almost no debt, cheap (P/E 4.7, P/B 0.65), high ROE (13.8%), good dividend (2.5%).
- Verdict: Safest bet in the sector.
- Shyam Metalics
- Strengths: Strong profitability (ROE 11.8%), but expensive (P/E 26.2).
- Verdict: Good for long-term growth investors.
Risky/Struggling Stocks
- Visa Steel, FACOR, Rohit Ferro-Tech
- Problems: High debt, losses, negative ROE/ROA.
- Verdict: Avoid unless major restructuring happens.
- Impex Ferro, Balasore Alloys
- Problems: Small, loss-making, low liquidity.
- Verdict: Speculative bets only.
Final Advice
- Conservative Investors: Stick to Maithan Alloys, IMFA.
- Growth Investors: Consider Shyam Metalics (but wait for a better P/E).
- Avoid: Visa Steel, FACOR, Rohit Ferro-Tech (debt traps).
Piotroski F-Score Analysis for Ferro-Alloy Companies in India
The Piotroski F-Score is a 9-point scoring system that measures a company’s financial strengthbased on profitability, leverage, liquidity, and operating efficiency.
- Score 7-9: Strong financial health (good investment).
- Score 4-6: Moderate financial health.
- Score 0-3: Weak financial health (risky).
Piotroski F-Score for Ferro-Alloy Companies of India :
| Company Name | Piotroski F-Score (Est.) | Financial Health | Key Weaknesses |
|---|---|---|---|
| Maithan Alloys Ltd | 8 (Strong) | Excellent | None major |
| IMFA | 6 (Moderate) | Decent | Moderate debt, low ROE |
| Shyam Metalics & Energy Ltd | 7 (Good) | Strong | High P/E, slightly leveraged |
| Visa Steel Ltd | 2 (Very Weak) | Distress | High debt, losses |
| Impex Ferro Tech Ltd | 1 (Very Weak) | Distress | Losses, high debt |
| Balasore Alloys Ltd | 3 (Weak) | Struggling | Negative profits, debt |
| FACOR | 1 (Very Weak) | Distress | Heavy losses, high debt |
| Rohit Ferro-Tech Ltd | 1 (Very Weak) | Distress | Bankruptcy risk |
| Manaksia Ferro Industries | 5 (Moderate) | Average | Moderate debt, low growth |
| GTV Engineering Ltd | 2 (Very Weak) | Distress | Losses, weak liquidity |
Final Investment Recommendations
| Category | Companies | Action |
|---|---|---|
| Strong Buy | Maithan Alloys | Best for safety & dividends |
| Growth Pick | Shyam Metalics | Wait for better P/E |
| Hold (Moderate) | IMFA, Manaksia Ferro |  Monitor debt & profits |
| Avoid | Visa Steel, FACOR, Rohit Ferro-Tech |  High risk of failure |
Credit Ratings of Ferro Alloy Companies of India :
These companies are not very big impactful companies and not issuing bonds that Credit Ratings are recently not available for all these companies. But here are estimated credit results on the basis of Financial metrics that can bring more investment details to you.
Final Advice regarding Credit ratings :
- Safe Bets: Maithan Alloys (A), Shyam Metalics (BBB+).
- Avoid: Visa Steel, FACOR, Rohit Ferro-Tech (all near bankruptcy).
Conclusion :
Ferro-Alloy Companies: Investment Outlook (2024-2025)
| Company | Future Prospects | Short-Term (1Y) | Long-Term (3-5Y) | Financial Health | Bullish/Bearish | Good for Investment? |
|---|---|---|---|---|---|---|
| Maithan Alloys | Strong demand for alloys, low debt | Neutral(Fairly valued) | Bullish(Stable growth) | Excellent(Debt-free, high ROE) | Mild Bullish | Yes (Best Pick) |
| IMFA | Moderate growth, dependent on commodity prices | Neutral | Neutral(Slow growth) | Moderate(D/E 0.92, low ROE) | Neutral | Hold (No Upside) |
| Shyam Metalics | Expansion in steel/alloys, high growth potential | Bullish(Momentum play) | Very Bullish(Scaling up) | Good(Leveraged but profitable) | Bullish | Yes (Growth Pick) |
| Visa Steel | High bankruptcy risk, debt-heavy | Very Bearish | Very Bearish(Likely insolvency) | Critical (D/E 3.5, losses) | Bearish | Avoid |
| Impex Ferro Tech | Tiny company, survival uncertain | Bearish | Very Bearish(Delisting risk) | Very Weak(Losses, micro-cap) | Bearish | Avoid |
| Balasore Alloys | Unclear future, no financial updates | High Risk | High Risk | Weak (No data) | Neutral-Bearish | Avoid |
| FACOR | Defunct, NCLT insolvency | Dead Stock | Zero Hope | Defaulted | Bearish | Avoid |
| Rohit Ferro-Tech | Bankruptcy proceedings | Dead Stock | Zero Hope | Defaulted | Bearish | Avoid |
| Manaksia Ferro | Small player, limited growth | Neutral | Neutral(Low upside) | Moderate(Low debt but small scale) | Neutral | Avoid (No Growth) |
| GTV Engineering | Erratic performance, risky | Bearish | Bearish (No moat) | Weak(Losses, illiquid) | Bearish | Avoid |
Key Takeaways:
- Best Investments:
- Maithan Alloys (Safe, debt-free, dividends).
- Shyam Metalics (Growth potential, but watch debt).
- Hold/Neutral:
- IMFA (Stable but no major upside).
- Manaksia Ferro (Too small to matter).
- Avoid:
- Visa Steel, FACOR, Rohit Ferro-Tech (Bankruptcy risks).
- Impex Ferro, Balasore, GTV (Too risky, no growth).
I hope you got good info on all Ferro Alloy companies of India and full stocks analysis of the same.
Happy Investing
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