Kasturi Metal CompositeShare price, financial results, shareholding and management
- Market cap
- ₹70 cr
- Stock P/E
- 17.7peers 15.9
- Book value
- ₹35.6
- Price to book
- 1.89
- EV / operating profit
- -
- Market cap to sales
- 1.09
- ROCE · FY26
- 18.1%
- ROE · FY26
- 14.5%
- ROE, 3-year average
- 16.7%
- Operating margin · FY26
- 12.5%peers 8.2%
- Sales growth, 3 years
- 20.1%
- Profit growth, 3 years
- 38.5%
- Debt to equity
- 0.38peers 0.42
- Borrowings
- ₹14 cr
- Interest cover
- 5.1×
- Cash from business / op. profit
- 52%
- Debtor days
- 55
- Pledged
- 0.00%
- Promoter holding
- 67.90%
- Change in promoter holding
- -
- Shareholders
- 174
- 52-week high / low
- ₹88 / ₹44
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Kasturi Metal Composite share price chart
Close on 6 Nov 2026 · -1.75% on the day · Vol 90,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -3.7%
- 3 months
- +23.7%
- 6 months
- +12.3%
- Traded a day, 20 days
- ₹0.74 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +13% | +134% |
| 3 years, a year | +20% | +39% |
| Latest half, H2 FY26 | +28% | - |
About Kasturi Metal Composite: business, products and customers
Kasturi Metal Composite makes steel fibres that strengthen concrete in tunnels, floors and roads, and steel wool used in brake pads, and through a subsidiary it lays industrial concrete floors for warehouses and factories. Its shares trade on BSE SME.
Kasturi draws steel wire rod into thin wire at three plants in the MIDC area of Amravati, Maharashtra, then cuts and shapes it into Duraflex steel fibres for concrete and Durabond steel wool for friction linings. It also trades Durocrete polypropylene fibres and has developed a loop end steel fibre, for which a patent application is pending.
Since FY24 the company has owned 98% of Durafloor Concrete Solutions LLP, which designs and lays warehouse and factory floors, polishes them and tests them, using Kasturi's fibres and joint, dowel and curing products made for it by outside manufacturers. This changes how the numbers look: flooring is contract work billed by project, so sales from it come in lumps, and the share of revenue spent on raw material fell as flooring grew, from about two thirds in FY23 to about half in the half year to September 2025.
Read more about the business
Most sales are in India, with Tamil Nadu and Maharashtra the largest states, and exports have been small and uneven. The company says no listed company in India does the same business, so the offer document gave no listed peer.
Kasturi listed in February 2026. The money raised is going into machines for a fourth plant at the Additional Amravati MIDC, built to make more steel fibre and a new polypropylene fibre line.
From the Red Herring Prospectus (January 2026) and the investor presentation of June 2026.
Read the deeper study ↓In its favour
- Sales have grown fast: 20% a year over three years.
- It brings in more cash than it shows as profit: ₹4.2 cr against ₹4 cr in FY26.
- The promoters own a large part of the company: 67.90%.
To watch
- Start of the fourth plant at Nandgaon MIDC, Amravati, expected by September 2026 (Investor presentation, June 2026, p.8).
- Whether the Durafloor order pipeline of more than ₹17 cr turns into sales (Investor presentation, June 2026, p.14).
- Grant of the patent for the loop end steel fibre, for which an expedited review was filed in May 2026 (Investor presentation, June 2026, p.6).
- Results for the half year to September 2026, the first with the new plant (Red Herring Prospectus, p.91).
- It paid no dividend in the past year.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Kasturi Metal Composite revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before.
Kasturi Metal Composite half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 31.81 | 25.16 | 32.04 | 32.33 |
| Expenses | 27.13 | 24.09 | 27.14 | 29.18 |
| Operating profit | 4.68 | 1.07 | 4.90 | 3.15 |
| OPM | 14.7% | 4.3% | 15.3% | 9.7% |
| Interest | 0.58 | 0.70 | 0.64 | 0.81 |
| Depreciation | 0.87 | 0.81 | 0.79 | 0.78 |
| Profit before tax | 3.35 | -0.32 | 3.72 | 2.25 |
| Net profit | 2.25 | -0.17 | 2.47 | 1.50 |
Kasturi Metal Composite profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 19.98 | 23.22 | 37.12 | 49.75 | 56.97 | 64.37 |
| Expenses | 18.11 | 21.32 | 33.10 | 44.30 | 51.22 | 56.32 |
| Operating profit | 1.87 | 1.90 | 4.02 | 5.45 | 5.75 | 8.05 |
| OPM | 9.4% | 8.2% | 10.8% | 10.9% | 10.1% | 12.5% |
| Other income | 0.35 | 0.20 | 0.25 | 0.46 | 0.24 | 0.94 |
| Interest | 0.42 | 0.54 | 0.94 | 1.14 | 1.28 | 1.46 |
| Depreciation | 0.57 | 0.68 | 1.33 | 1.41 | 2.20 | 1.56 |
| Profit before tax | 1.23 | 0.88 | 2 | 3.36 | 2.51 | 5.97 |
| Tax rate | 25.2% | 27.3% | 25.5% | 30.1% | 32.7% | 33.7% |
| Net profit | 0.92 | 0.64 | 1.49 | 2.35 | 1.69 | 3.96 |
| EPS ₹ | 155.67 | 80.91 | 188.37 | 23.06 | 2.17 | 3.75 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Kasturi Metal Composite profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 9.4% | 8.2% | 10.8% | 10.9% | 10.1% | 12.5% |
| Tax rate | 25.2% | 27.3% | 25.5% | 30.1% | 32.7% | 33.7% |
| ROCE | · | 12.0% | 19.1% | 22.0% | 13.8% | 18.1% |
| ROE | · | 11.9% | 23.7% | 24.3% | 11.3% | 14.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Kasturi Metal Composite debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Kasturi Metal Composite balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.59 | 0.79 | 0.79 | 1.01 | 7.64 | 10.40 |
| Reserves | 4.66 | 4.74 | 6.24 | 11.28 | 10.07 | 26.65 |
| Net worth | 5.25 | 5.53 | 7.03 | 12.29 | 17.71 | 37.05 |
| Borrowings | 4.57 | 8.41 | 9.78 | 11.83 | 13.15 | 13.98 |
| Other liabilities | 3.32 | 3.16 | 4.90 | 9.32 | 4.66 | 9.17 |
| Total liabilities | 13.14 | 17.10 | 21.71 | 33.44 | 35.52 | 60.20 |
| Fixed assets | 4.86 | 7.01 | 7.69 | 11.37 | 11.23 | 10.26 |
| Capital work in progress | 0 | 0 | 0.16 | 0 | 0.52 | 12.59 |
| Investments | 0.08 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 8.20 | 10.09 | 13.86 | 22.07 | 23.77 | 37.35 |
Kasturi Metal Composite cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 0 | 0.92 | 1.04 | 2.12 | 2.54 | 4.15 |
| Cash from investing | 0 | -3.16 | -2.03 | -0.97 | -2.09 | -13.81 |
| Cash from financing | 0 | 3.30 | 0.43 | -1.50 | 2.12 | 13.77 |
| Net cash flow | 0 | 1.06 | -0.56 | -0.35 | 2.57 | 4.11 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 101 | 65 | 75 | 74 | 36 | 55 |
| Inventory days | 32 | 74 | 69 | 83 | 107 | 120 |
| Days payable | 70 | 47 | 47 | 66 | 53 | 96 |
| Cash conversion cycle | 62 | 92 | 97 | 91 | 90 | 79 |
| Working capital days | 32 | 3 | 18 | 25 | 17 | 22 |
Kasturi Metal Composite peers and competitors
Listed SME companies in the same industryBy sales, Kasturi Metal Composite is number 107 of the 156 listed SME companies in industrial products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Vigor Plast India | 87 | 9.6 | 65.9 | 9.1 | 27.8% | 0.16 |
| Bulkcorp International | 60 | 16.0 | 65.8 | 3.7 | 10.1% | 0.30 |
| Agarwal Float Glass India | 18 | 12.5 | 65.1 | 1.5 | 5.7% | 0.82 |
| Abril Paper Tech | 24 | 15.9 | 65.1 | 1.5 | 3.2% | 0.03 |
| Dhaval Packaging | 171 | 21.3 | 65 | 8 | 21.7% | 0.78 |
| Kasturi Metal Composite | 70 | 17.7 | 64.4 | 4 | 12.5% | 0.38 |
| Quest Flow Controls | 195 | - | 62.4 | -4.3 | 0.1% | 0.07 |
| Krupalu Metals | 15 | 5.6 | 62.3 | 2.8 | 7.7% | 0.63 |
| Abha Power and Steel | 43 | 17.6 | 62.2 | 2.5 | 8.6% | 0.37 |
| Earthstahl & Alloys | 15 | - | 61.6 | -4.9 | -4.2% | 0.46 |
| 3B Films | 36 | 19.4 | 60 | 1.8 | 18.5% | 1.89 |
| Median of the 10 others | 40 | 16 | 63.7 | 2.2 | 8.2% | 0.42 |
Kasturi Metal Composite shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little.
Kasturi Metal Composite shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 26 | |
|---|---|
| Promoters | 67.90% |
| Number of shareholders | 174 |
Kasturi Metal Composite study: the business from its own documents
Read from 4 of the company's own documentsKasturi Metal Composite key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹65.3 cr
- Total revenue for the year, with net profit of ₹3.96 cr, as the company reported it.Investor presentation, June 2026, p.12
- Order book
- ₹37.5 cr
- Orders in hand for the company and its subsidiary at 31 December 2025, more than half a year of sales.Red Herring Prospectus, p.121
- From the flooring arm
- 45.74%
- Share of revenue that came from the Durafloor subsidiary in the half year to September 2025.Red Herring Prospectus, p.34
- Steel fibre share
- 37.6%
- Duraflex steel fibre's share of revenue in the half year to September 2025, down from 65.7% in FY23 as flooring work grew.Red Herring Prospectus, p.123
- Top ten customers
- 66.0%
- Share of revenue in the half year to September 2025; the largest single customer gave 24.4%.Red Herring Prospectus, p.125
Show 5 more facts
- Steel fibre line in use
- 79.2%
- Use of available capacity on the loose and glued steel fibre line in the half year to September 2025.Red Herring Prospectus, p.134
- Fourth plant
- 6,000 MT
- New yearly steel fibre capacity planned at Unit IV, with a 500 MT polypropylene fibre line; machines bought from the IPO money.Red Herring Prospectus, p.91
- Top five suppliers
- 70.3%
- Share of purchases from the five largest suppliers in the half year to September 2025, with no long term supply contracts.Red Herring Prospectus, p.31 to 33 and p.125
- Loop end fibre
- 200 MT
- Orders carried out for the new Delta loop end steel fibre after commercial production began in January 2026.Investor presentation, June 2026, p.6
- IPO
- ₹64 a share
- 27,52,000 new shares, about ₹17.6 cr, listed on BSE SME on 3 February 2026.Red Herring Prospectus, p.1; investor presentation, June 2026, p.21; our arithmetic
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says its fourth plant at Nandgaon MIDC, Amravati will add 6,000 MT a year of steel fibre on faster wire drawing lines, taking capacity from 4,000 MT to 10,000 MT, with commissioning expected by September 2026. In June 2026 it said the Durafloor arm had an order pipeline of more than ₹17 cr, that Kasturi had more than ₹8 cr of firm orders within a three month window, and that two work orders had come from the Gulf, where Durafloor is working in Dubai. It is also launching micro steel fibres for ultra high performance concrete.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Kasturi earns from making steel fibres and steel wool from wire rod, and more and more from laying industrial floors through its subsidiary.
Its weak spots are a few large customers, a few large suppliers and flooring work that comes and goes project by project.
AverageCan it set its own prices?Steel wire rod is its main cost and it has no long term supply contracts, so it must pass on price changes to customers; flooring work and the new loop end fibre add some room.
AverageHow strong is it against rivals?It is a niche maker with its own brands and a patent pending, but many large and small makers and distributors offer similar products.
WatchWho are its customers?Builders of tunnels, warehouses and floors and makers of brake pads, but a handful of them bring most of the money.
AverageDoes it need a lot of money?Cash from operations has been positive in every period shown, but a new plant is being built and the existing lines run close to their limits.
AverageCan it keep finding new work?It has orders in hand and new products and markets in progress, but flooring work must be won again project by project.
WatchDo good and bad years swing a lot?Where its sales come from shifts a lot from year to year, by state, by product and between home and export.
Who runs Kasturi Metal Composite?
Promoters, directors and officers; tap a name for the background
SSSamit Surendra SinghaiPromoter, Chairman and Managing Director · holds 26.54% post-IPO
Holds a Master of Science in Industrial Engineering from the University of Wisconsin-Madison and a Bachelor of Engineering (Mechanical) from the University of Pune, with about 20 years in steel fibre and steel wool making. On the board since incorporation; Managing Director for three years from December 2024, responsible for overall operations, finance, legal and administration.
Red Herring Prospectus, p.154 to 155ASAkash Surendra SinghaiPromoter and Whole Time Director · holds 19.87% post-IPO
Holds an MBA from La Trobe University, Melbourne and a Bachelor of Engineering (Production) from Sant Gadge Baba Amravati University, with about 20 years in marketing and business development. Leads sales, marketing and business development; Whole Time Director for three years from December 2024.
Red Herring Prospectus, p.154 to 156SFSurendra Fatechand SinghaiPromoter · holds 7.18% post-IPO
Associated with the company since November 2006, with about 26 years in the steel fibre and steel wool industry; gives strategic advice and holds no directorship. Left the board in December 2023.
Red Herring Prospectus, p.158 and p.169LSLata Surendra SinghaiPromoter · holds 4.68% post-IPO
Holds a Master of Arts (Political Science) from Nagpur University, with about 21 years in the steel fibre industry; proprietor of Kasturi Petroleum, a related party. Left the board in December 2023.
Red Herring Prospectus, p.158 and p.169PRPravin Radheshyam KesharwaniChief Financial Officer
Holds a Master of Commerce from Amravati University, with 26 years in accounts and finance; Chief Financial Officer since September 2024.
Red Herring Prospectus, p.165MMMohit Manoharlal GaneshaniIndependent Director
A chartered accountant and partner at Ganeshani & Co., with over 15 years in finance, tax, audit and strategy, including more than seven years at Tata Power; appointed in September 2024 for five years.
Red Herring Prospectus, p.155 to 156AMAshish Madanmohan MundhadaIndependent Director
A chartered accountant since 2004 with about 20 years in taxation, proprietor of A.M. Mundhada & Co.; appointed in September 2024 for five years.
Red Herring Prospectus, p.155 to 156Kasturi Metal Composite latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹32.3 cr (+28%), net profit ₹1.5 cr (-) on H2 FY25.
Kasturi Metal Composite announcements
6 on record, latest first; each opens the filing on the exchange
- Company UpdateCertificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026PDF ↗
- Company UpdatePlease find enclosed the clarification letter on significant movement in Price of shares of the companyPDF ↗
- Company UpdateThe Exchange has sought clarification from Kasturi Metal Composite Ltd on September 30, 2026 with reference to significant movement in price, in order to ensure
- AGM/EGMVoting Results and Scrutinizer''s Report of the 21st Annual General Meeting of the CompanyPDF ↗
- AGM/EGMProceedings of the 21st Annual General Meeting of the CompanyPDF ↗
- Insider Trading / SASTIntimation of Closure of Trading Window for the Year ended on September 30, 2026PDF ↗
Kasturi Metal Composite annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
Kasturi Metal Composite share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Kasturi Metal Composite's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,03,95,212 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY23 (₹188.37) and FY24 (₹23.06) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Kasturi Metal Composite
What does Kasturi Metal Composite do?
Kasturi Metal Composite makes steel fibres that strengthen concrete in tunnels, floors and roads, and steel wool used in brake pads, and through a subsidiary it lays industrial concrete floors for warehouses and factories. Its shares trade on BSE SME.
What is the share price of Kasturi Metal Composite?
₹67.4 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Kasturi Metal Composite?
₹70 cr at the close on 6 Nov 2026, on 1,03,95,212 shares.
What is the P/E of Kasturi Metal Composite?
17.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Kasturi Metal Composite's revenue and profit?
Revenue ₹64 cr and profit after tax ₹4 cr in FY26.
Who are the promoters of Kasturi Metal Composite?
Samit Surendra Singhai, Akash Surendra Singhai, Surendra Fatechand Singhai, Lata Surendra Singhai; promoters held 67.90% at 31 March 2026.
What is Kasturi Metal Composite's website?
www.steelfiberindia.in
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- AVSL IndustriesAVSL · NSE Emerge · Industrial Products · listed 2016Market cap ₹64 cr
Built from 2 annual reports, 1 offer document, 1 investor presentation, 6 exchange announcements, 1 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.