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Panchmahal Steel Limited (513511) Fair Value & Analysis

Basic Materials · IN · Market cap ₹562M

PS Panchmahal Steel Limited 513511 · BSE
Price₹290.00
Fair Value₹71.92
Upside-75.2%
Quality53/100
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Mixed Growth
Loss-making · -13.7% net margin
Low debt · generates free cash flow
Trails peers (3/10)
Narrow moat 9/100
Evidence: High Range ₹71.92 – ₹137.44 Share as image

Fair value as of: Aug 7, 2026

From 16 valuation models · updated today

Fair value updated Aug 7, 2026, revised from ₹7.04 to ₹71.92 (+921.6%) since Jul 4, 2026. Share price −6.7% over the past month.

A solid business, but screening 75% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹137.44). The favourable scenario is already priced in.
  • Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (₹71.92 to ₹137.44) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

₹353.70 ₹27.78 Fair Value ₹71.92 Feb 2021 Jul 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 7, 2026.

How to read this chart

60‑month range ₹27.78 – ₹353.70 · fair‑value band ₹71.92 – ₹137.44 · the ₹290.00 price screens above the ₹71.92 fair value. Dashed = 300-day average. As of Aug 7, 2026.

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Analysis

Panchmahal Steel Limited (513511) currently trades at ₹290.00, while our model-based Fair Value estimate is ₹71.92, implying the stock looks roughly 75.2% overvalued today. We read business quality at 53/100 (solid quality), in the Basic Materials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Panchmahal Steel Limited generated revenue of ₹2.7B at a net margin of -13.7%. Revenue declined 58.3% year over year. Net debt stands at ₹349M. Fundamentals as of Aug 7, 2026

Our scenario range runs from ₹71.92 (bear case) to ₹137.44 (bull case); at ₹290.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 25% below its 52-week high and 33% above its 52-week low. For context, the median of 10 Basic Materials peers we cover trades at -43% fair-value upside, at -75%, 513511 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ₹113.48 ₹142.87 ₹191.08 80
Rev-Margin DCF ₹55.79 ₹67.08 ₹83.14 74
ROIC Compounder ₹6.79 ₹7.70 ₹8.45 72
All 16 models by family
DCF Models
FCF DCF ₹110.27 ₹141.08 ₹196.15 38
Owner Earnings ₹11.29 ₹14.40 ₹19.97 31
5Y Revenue Exit ₹55.79 ₹64.23 ₹76.81 39
5Y EBITDA Exit ₹75.66 ₹98.15 ₹128.88 41
10Y Revenue Exit ₹78.72 ₹88.14 ₹96.96 36
10Y EBITDA Exit ₹90.15 ₹108.03 ₹126.47 37
Earnings-Based
EPV ₹6.79 ₹7.70 ₹8.45 59
Dividend Discount
Gordon GGM ₹23.21 ₹25.84 ₹29.02 70
DDM Multi-Stage ₹23.21 ₹28.61 ₹34.92 61
Multiples
EV/EBIT ₹22.56 ₹30.03 ₹37.50 53
EV/EBITDA ₹57.12 ₹76.11 ₹95.09 54
EV/Revenue ₹15.26 ₹21.73 ₹28.20 43
Asset-Based
NCAV (Graham) ₹39.49 ₹52.92 ₹78.99 50
Growth DCF
Growth DCF ₹113.48 ₹142.87 ₹191.08 80
Rev-Margin DCF ₹55.79 ₹67.08 ₹83.14 74
Economic Profit
ROIC Compounder ₹6.79 ₹7.70 ₹8.45 72

Widest divergence: DCF Models (₹88.14) versus Earnings-Based (₹7.70). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) ₹2.7B
Revenue growth (YoY) -58.3%
Net margin -13.7%
Free cash flow ₹254M FY2026
Operating margin -3.1%
EPS (TTM) ₹-16.89
More key figures
EPS growth (YoY) +73.5%
Net debt ₹349M FY2026

Figures from reported company fundamentals · as of Aug 7, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 62 · Market factors (momentum, volatility) 43

Profitability 38
Margins and returns on capital today
Quality Growth 61
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 56
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Panchmahal Steel Limited manufactures and sells stainless steel long products in the form of wire rods, bars, and wires in India. It offers hot rolled wire rods and bars for forming, drawing, machining, and cold heading and fastener applications; cold finished bars for precise engineering; and bars for free machining.

Full company description

Panchmahal Steel Limited manufactures and sells stainless steel long products in the form of wire rods, bars, and wires in India. It offers hot rolled wire rods and bars for forming, drawing, machining, and cold heading and fastener applications; cold finished bars for precise engineering; and bars for free machining. The company also provides wires for braiding, weaving, knitting, filters, springs, and ball making, as well as for cold heading and fasteners; heat resistant wires; EPQ wires; fine wires; core wires in coils and cut length for electrode manufacturing; and TIG, MIG, and SAW filler wires. Its products are used in engineering, construction and infrastructure, automotive and railway, consumer durable, food processing and dairy, housing, and pharmaceutical industries. It also exports its products. The company was incorporated in 1972 and is based in Vadodara, India. Panchmahal Steel Limited is a subsidiary of Honeyvick Enterprises Private Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Panchmahal Steel Limited reported revenue of ₹3.8B in FY2026 versus ₹5.7B in FY2022, a compound −9.5%/yr. Reported net income was −₹22.6M in FY2026.

Growth Quality 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹3.8B
Latest YoY
+0.3%
Avg. growth/yr (3Y)
−7.7%
Avg. growth/yr (5Y)
+2.5%
Avg. growth/yr (12Y)
+1.3%
Revenue −9.5%/yr
FY22 ₹5.7B
FY23 ₹4.9B
FY24 ₹4.3B
FY25 ₹3.8B
FY26 ₹3.8B
Net income
FY22 ₹586M
FY23 ₹13.8M
FY24 ₹29.7M
FY25 ₹33.3M
FY26 −₹22.6M

513511 screens 75% overvalued. Compare with Steel Authority of India Limited →

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Cite: Fair Value Calculator (2026). "Panchmahal Steel Limited Fair Value". https://www.fairvalue-calculator.com/stock/513511

Peer Group

Materials · 3469 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Steel & Iron” was too small, so the broader sector is used.)

Quality Score 52 · Above median
Fair Value upside −75% · Bottom 25%
Return on assets 0% · Below median
Net margin (TTM) -14% · Bottom 25%
Operating margin (TTM) -3% · Bottom 25%
Revenue growth -58% · Bottom 25%
Dividend yield (TTM) 0.0% · Bottom 25%

Valuation Multiples vs Materials median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 3
FUTURE 0 · sector 9
PAST 0 · sector 12
HEALTH 100 · sector 95
DIVIDEND 0 · sector 28

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Steel & Iron stocks, each showing price versus our Fair Value estimate (as of Aug 7, 2026).

Stock Price Fair Value vs Fair Value
Steel Authority of India Limited 500113 ₹169.00 ₹89.25 -47%
Mukand Limited 500460 ₹141.25 ₹80.48 -43%
Steelcast Limited 513517 ₹310.20 ₹443.98 +43%
Uni Abex Alloy Products Limited 504605 ₹5,470 ₹3,296 -40%
Bhagwati Autocast Limited 504646 ₹507.80 ₹767.76 +51%
Facor Alloys Limited 532656 ₹3.43 ₹1.30 -62%
Rathi Bars Limited 532918 ₹20.71 ₹5.76 -72%
Rishabh Digha Steel And Allied Products Limited 531539 ₹34.00 ₹7.61 -78%
Cosmo Ferrites Limited 523100 ₹209.10 ₹25.83 -88%
Shree Steel Wire Ropes Limited 513488 ₹20.23 ₹16.82 -17%

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Frequently asked questions

Is Panchmahal Steel Limited (513511) overvalued or undervalued?
As of Aug 7, 2026, our model estimates a fair value of ₹71.92 versus a price of ₹290.00, about −75% (overvalued).
What is the fair value of 513511?
Our model-based fair value for Panchmahal Steel Limited is ₹71.92 (as of Aug 7, 2026), built from audited fundamentals. The current price is ₹290.00.
What is the quality score of 513511?
Panchmahal Steel Limited has a Quality Score of 53/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Panchmahal Steel Limited (513511)?
Panchmahal Steel Limited reported trailing-twelve-month revenue of about ₹2.7B (latest available figure, as of Aug 7, 2026).
What is the net profit margin of 513511?
The net profit margin of Panchmahal Steel Limited is about -13.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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