Parmeshwar MetalShare price, financial results, shareholding and management
- Market cap
- ₹435 cr
- Stock P/E
- 13.4peers 24.6
- Book value
- ₹66.6
- Price to book
- 4.26
- EV / operating profit
- -
- Market cap to sales
- 0.22
- ROCE · FY26
- 43.8%
- ROE · FY26
- 37.8%
- ROE, 3-year average
- 26.2%
- Operating margin · FY26
- 2.2%peers 6.7%
- Sales growth, 3 years
- 26.6%
- Profit growth, 3 years
- 53.4%
- Debt to equity
- 0.23peers 0.78
- Borrowings
- ₹23 cr
- Interest cover
- 27.0×
- Cash from business / op. profit
- 51%
- Debtor days
- 6
- Pledged
- 0.00%
- Promoter holding
- 72.03%
- Change in promoter holding
- +0.47 pts
- Shareholders
- 477
- 52-week high / low
- ₹344 / ₹66
- Dividend yield
- Paid
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Parmeshwar Metal share price chart
Close on 6 Nov 2026 · +0.73% on the day · Vol 29,000
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
- -7.8%
- 3 months
- +45.6%
- 6 months
- +42.4%
- 1 year
- +306.9%
- Traded a day, 20 days
- ₹0.36 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +43% | +196% |
| 3 years, a year | +27% | +53% |
| Latest half, H2 FY26 | +50% | +250% |
About Parmeshwar Metal: business, products and customers
Parmeshwar Metal melts copper scrap and turns it into copper wire rods and copper wire, which cable, wire and transformer makers use as their raw material. It has one plant near Dehgam in Gujarat and its shares trade on BSE SME.
Parmeshwar Metal was set up in 2016 and runs one plant at Dehgam near Gandhinagar. Copper scrap, procured from many Indian states and also imported, is sorted, baled, melted in a gas furnace, refined, cast on a wheel and rolled into 8 mm and 12.5 mm copper wire rods and 1.6 mm copper wire, with an in-house lab testing each stage. Buyers are businesses that make power cables, building wires, transformers, automotive wiring, household cables and enamelled wire, mostly in Gujarat and nearby states.
The business model shapes the numbers. Copper is almost the whole cost, so revenue rises and falls with copper prices and tonnes sold, while the company keeps only a thin conversion margin; a small swing in the scrap to rod spread moves profit a lot. The plant runs with a very small permanent staff and contract labour. Because sales are large against the margin, the stock and customer dues held at year end can change cash flow sharply.
Read more about the business
The offer document names Rajnandini Metal as its listed peer, another maker of copper rods and wires. It says the trade is dominated by unorganised players, alongside larger organised companies with more money and wider product ranges.
What is new: the company listed on BSE SME in January 2025 and used the money raised for a facility to make bunched copper wire and more 1.6 mm wire, a standby furnace and working capital. A subsidiary, Parmeshwar CopperX, was incorporated in August 2026 at the same address as the plant.
From the offer document (red herring prospectus, December 2024), the FY25 and FY26 annual reports and the Crisil Ratings note of May 2025.
Read the deeper study ↓In its favour
- Sales have grown fast: 27% a year over three years.
- It earns a high return on the money it uses: ROCE 44% in FY26.
- It has little debt for its size: debt to equity 0.23.
- The promoters own a large part of the company: 72.03%.
- It paid a dividend in the past year.
To watch
- The appeals against GST demands of ₹44.1 cr disclosed at March 2026 (Annual report FY26, p.72).
- Output from the bunched copper wire and 1.6 mm wire facility funded by the January 2025 issue (Annual report FY25, p.23).
- What the new subsidiary Parmeshwar CopperX, incorporated in August 2026, will do (Annual report FY26, p.24 and p.25).
- Inventory and bank borrowings after the build-up at March 2026 (Annual report FY26, p.55).
- Its borrowings rose a lot last year: ₹23 cr, from ₹11 cr.
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.
Parmeshwar Metal 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. Profit grew faster than sales.
Parmeshwar Metal half-yearly results
SME companies report every six months · ₹ crore
| H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|
| Sales | 556 | 631 | 751.39 | 845.24 | 1,128 |
| Expenses | 547 | 625 | 742.26 | 833.11 | 1,097 |
| Operating profit | 9 | 6 | 9.13 | 12.13 | 30.84 |
| OPM | 1.6% | 0.9% | 1.2% | 1.4% | 2.7% |
| Interest | 1 | 1 | 0.94 | 0.58 | 1.08 |
| Depreciation | 0 | 0 | 0.48 | 0.55 | 0.56 |
| Profit before tax | 8 | 6 | 9.13 | 12.02 | 31.41 |
| Net profit | 6 | 4 | 6.71 | 9.04 | 23.46 |
Parmeshwar Metal profit and loss
Full years to March, FY19 to FY26 · ₹ crore, consolidated where reported
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 213 | 289 | 538 | 902 | 972 | 1,100 | 1,382 | 1,973 |
| Expenses | 211 | 284 | 531 | 891 | 958 | 1,089 | 1,367 | 1,930 |
| Operating profit | 3 | 5 | 8 | 12 | 14 | 11 | 15.13 | 42.97 |
| OPM | 1.2% | 1.7% | 1.4% | 1.3% | 1.4% | 1.0% | 1.1% | 2.2% |
| Other income | 0 | 0 | 0 | 0 | 1 | 2 | 2.69 | 3.23 |
| Interest | 1 | 2 | 2 | 2 | 2 | 3 | 1.95 | 1.67 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 0.95 | 1.10 |
| Exceptional and other items | -1 | 1 | · | · | · | 1 | · | · |
| Profit before tax | 1 | 3 | 5 | 9 | 12 | 10 | 14.92 | 43.43 |
| Tax rate | 100.0% | 33.3% | 20.0% | 22.2% | 25.0% | 30.0% | 26.4% | 25.2% |
| Net profit | 0 | 2 | 4 | 7 | 9 | 7 | 10.98 | 32.49 |
| EPS ₹ | 5.73 | 30.80 | 52.27 | 91.33 | 118.67 | 9.51 | 9.03 | 21.23 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 10.0% | 6.0% |
The years to FY24 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
A tax rate above 60% or below zero (FY19) comes from tax charged on a small or negative profit, as reported.
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.
Parmeshwar Metal profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 1.2% | 1.7% | 1.4% | 1.3% | 1.4% | 1.0% | 1.1% | 2.2% |
| Tax rate | 100.0% | 33.3% | 20.0% | 22.2% | 25.0% | 30.0% | 26.4% | 25.2% |
| ROCE | · | 16.9% | 25.5% | 34.9% | 33.7% | 24.3% | 23.9% | 43.8% |
| ROE | · | 21.1% | 30.8% | 37.8% | 34.6% | 20.6% | 20.3% | 37.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 10.0% | 6.0% |
Parmeshwar Metal debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Parmeshwar Metal balance sheet
At each 31 March · ₹ crore
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 8 | 8 | 8 | 8 | 8 | 8 | 15 | 15 |
| Reserves | 0 | 3 | 7 | 14 | 22 | 30 | 55 | 87 |
| Net worth | 8 | 11 | 15 | 22 | 30 | 38 | 70 | 102 |
| Borrowings | 23 | 17 | 12 | 14 | 17 | 22 | 11 | 23 |
| Other liabilities | 4 | 4 | 5 | 5 | 7 | 8 | 8 | 15 |
| Total liabilities | 35 | 32 | 32 | 41 | 54 | 68 | 89 | 140 |
| Fixed assets | 9 | 9 | 9 | 10 | 12 | 12 | 12 | 16 |
| Capital work in progress | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 28 |
| Other assets | 26 | 23 | 22 | 30 | 41 | 56 | 77 | 96 |
Parmeshwar Metal cash flow
₹ crore
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | -7 | 3 | 3 | 5 | -2 | 2 | -4 | 22 |
| Cash from investing | -1 | 0 | -2 | -2 | -2 | -2 | -5 | -33 |
| Cash from financing | 10 | -6 | -2 | -1 | 1 | 3 | 10 | 9 |
| Net cash flow | 2 | -3 | -1 | 2 | -3 | 3 | 1 | -2 |
Working capital
Days
| FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 17 | 16 | 10 | 6 | 8 | 7 | 9 | 6 |
| Inventory days | 19 | 13 | 4 | 3 | 4 | 7 | 1 | 7 |
| Days payable | 6 | 4 | 2 | 1 | 1 | 2 | 1 | 2 |
| Cash conversion cycle | 30 | 24 | 12 | 9 | 11 | 11 | 9 | 11 |
| Working capital days | 21 | 18 | 12 | 7 | 11 | 9 | 13 | 10 |
Parmeshwar Metal peers and competitors
Listed SME companies in the same industryBy sales, Parmeshwar Metal is number 2 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 |
|---|---|---|---|---|---|---|
| Sunlite Recycling Industries | 1,007 | 24.6 | 2,791 | 41 | 2.2% | 0.13 |
| Parmeshwar Metal | 435 | 13.4 | 1,973 | 32.5 | 2.2% | 0.23 |
| V Marc India | 4,610 | 46.1 | 1,797 | 100 | 11.2% | 0.74 |
| Shera Energy | 472 | 16.0 | 1,640 | 29.6 | 5.3% | 1.35 |
| Baheti Recycling Industries | 757 | 28.0 | 725 | 27.1 | 8.4% | 2.52 |
| Cosmic CRF | 1,079 | 21.2 | 717 | 51 | 11.0% | 0.30 |
| Supershakti Metaliks | 259 | 9.3 | 705 | 28 | 1.6% | 0.00 |
| Rajputana Industries | 147 | 12.0 | 698 | 12.2 | 4.0% | 0.83 |
| Purv Flexipack | 84 | 24.5 | 660 | 3.4 | 0.2% | 1.51 |
| Divine Power Energy | 1,520 | 56.3 | 626 | 27 | 8.0% | 1.21 |
| Subam Papers | 632 | 70.2 | 584 | 9 | 8.0% | 0.42 |
| Median of the 10 others | 695 | 24.6 | 711 | 27.5 | 6.7% | 0.78 |
Parmeshwar Metal shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has come down.
Parmeshwar Metal 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 25 | Sep 25 | Mar 26 | |
|---|---|---|---|
| Promoters | 70.82% | 71.56% | 72.03% |
| Foreign investors (FIIs) | 1.93% | 1.15% | - |
| Indian institutions (DIIs) | 4.07% | 0.26% | - |
| Number of shareholders | 721 | 633 | 477 |
Parmeshwar Metal study: the business from its own documents
Read from 6 of the company's own documentsParmeshwar Metal so far
From the company's own record
- August 2016Company formed
- 31 March 2026Promoters at 72.03%
- 10 Sept 2026Highest close since listing, ₹342.85
Parmeshwar Metal key facts from the filings
Each figure with the document it comes from
- Revenue
- ₹1,972.9 cr
- Revenue from operations in FY26, up from ₹1,382.4 cr in FY25, as profit after tax rose to ₹32.5 cr from ₹11.0 cr.Annual report FY26, p.23
- Material cost
- About 97%
- Share of FY26 total income spent on materials consumed, so the company keeps only a thin conversion margin.Annual report FY26, p.56; our arithmetic
- Copper wire rods
- 85.35%
- Share of product sales from wire rods in the seven months to October 2024; copper wire gave 7.41% and scrap 6.94%.Offer document, p.145 and p.146
- Gujarat
- 53.94%
- Share of domestic revenue from Gujarat in the seven months to October 2024, with Madhya Pradesh next at 27.85%; exports are negligible.Offer document, p.146
- Capacity
- 18,000 tonnes
- Installed capacity a year; 76.37% was used in FY24, the last full year the offer document reports.Offer document, p.157
Show 5 more facts
- Top ten customers
- 47.73%
- Share of revenue in the seven months to October 2024; the largest customer gave 14.66%.Offer document, p.145
- Staff
- 26
- Permanent employees at October 2024, with 45 contract workers, for a business of this sales size.Offer document, p.156
- Disputed GST
- ₹44.1 cr
- GST demands under dispute at March 2026, up from ₹8.5 cr a year earlier; the company has appealed the orders.Annual report FY26, p.72
- Inventory
- ₹37.7 cr
- Stock at March 2026 against ₹3.9 cr a year earlier; bank borrowings rose to ₹23.3 cr.Annual report FY26, p.55 and p.64
- Credit rating
- Crisil BBB-
- Long-term rating with a stable outlook and A3 short-term rating on the bank facilities.Annual report FY26, p.35
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.
The company earns a small margin on turning copper scrap into wire rods and wire for cable and transformer makers, on very large sales.
Its weak spots are a thin margin that copper price moves can wipe out, a crowded trade with little to set its product apart, and a large tax dispute.
WatchCan it set its own prices?No: its product is priced off copper, and the rating agency says competition limits its control over prices.
WatchHow strong is it against rivals?It is a small player in a trade with low entry barriers and many unorganised firms; the documents point to no product edge.
AverageWho are its customers?Cable, wire and transformer makers, spread across many buyers but concentrated in Gujarat and Madhya Pradesh.
AverageDoes it need a lot of money?Little money goes into machines, but stock and customer dues can swing by large sums against a thin profit.
AverageCan it keep finding new work?Demand comes order by order from cable makers with no long contracts, and the documents give no order book.
WatchDo good and bad years swing a lot?Sales follow copper prices, and profit can jump or shrink on small changes in the spread.
Who runs Parmeshwar Metal?
Promoters, directors and officers; tap a name for the background
SKShantilal Kailashchandra ShahPromoter and Managing Director
Bachelor of Commerce from Gujarat University (1997), with more than 8 years in the metal industry; a director since incorporation in 2016 and Managing Director from February 2024.
Offer document, p.177 and p.191SMSuchitkumar Maheshbhai PatelPromoter and Whole-Time Director
Studied to the fifth semester of a diploma in civil engineering at Rajasthan Vidyapeeth University (2008), with more than 6 years in the metal industry; a director since 2021 and Whole-Time Director from February 2024.
Offer document, p.177, p.178 and p.191PGPiyush Giriraj ShahPromoter, Chairman and Non-Executive Director
LLB from Gujarat University (2006), with more than 6 years in the metal industry; a director since 2018 and Chairman from February 2024.
Offer document, p.178 and p.192RJRadheshayam Jankilal ShahPromoter
More than 11 years in the metal industry, with no formal education qualification; resigned as a director in February 2024.
Offer document, p.182 and p.192PMParth Maheshbhai PatelPromoter
Higher secondary education, with more than 2 years of work as a supervisor.
Offer document, p.193PRPratik Radheshyam ShahPromoter
Passed the final examination of the Institute of Chartered Accountants of India, with more than 11 years in finance and taxation.
Offer document, p.193KRKailashben Radheshyam ShahPromoter
Named among the promoters; held 5.03% of the shares before the issue and has no formal education.
Offer document, p.194DSDipak Shantilal JagetiyaIndependent Director
Chartered accountant in practice since 2010 with commerce degrees from Gujarat University and 13 years in accounting and taxation; chairs the audit committee.
Offer document, p.178, p.179 and p.183MDMayura Dinesh MaratheIndependent Director
Commerce graduate and postgraduate from Shivaji University, a company secretary by training with a law degree (2021), and 8 years in corporate law, secretarial and compliance work; on the board since June 2024.
Offer document, p.179VKVijay Kumar Shaileshbhai ShahChief Financial Officer
Bachelor of Commerce from Gujarat University (2013) with over 12 years in accounts and finance; earlier with Vinayak TMT Bars, appointed in May 2024.
Offer document, p.189Parmeshwar Metal 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 ₹1,128 cr (+50%), net profit ₹23.5 cr (+250%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 71.56% to 72.03%.
Parmeshwar Metal announcements
4 on record, latest first; each opens the filing on the exchange
Parmeshwar Metal annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 May 2025 ↗read
- Credit ratings ↗read
Parmeshwar Metal share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendFinal Dividend - Rs. - 1.2500ex-date 4 Sept 2026
- DividendFinal Dividend - Rs. - 0.7500ex-date 19 Sept 2025
Checks we ran on Parmeshwar Metal'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 (1,53,06,000 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 (₹118.67) and FY24 (₹9.51) 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, FY19 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Parmeshwar Metal
What does Parmeshwar Metal do?
Parmeshwar Metal melts copper scrap and turns it into copper wire rods and copper wire, which cable, wire and transformer makers use as their raw material. It has one plant near Dehgam in Gujarat and its shares trade on BSE SME.
What is the share price of Parmeshwar Metal?
₹284 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Parmeshwar Metal?
₹435 cr at the close on 6 Nov 2026, on 1,53,06,000 shares.
What is the P/E of Parmeshwar Metal?
13.4 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Parmeshwar Metal's revenue and profit?
Revenue ₹1,973 cr and profit after tax ₹32 cr in FY26.
Who are the promoters of Parmeshwar Metal?
Shantilal Kailashchandra Shah, Suchitkumar Maheshbhai Patel, Piyush Giriraj Shah, Radheshayam Jankilal Shah, Parth Maheshbhai Patel, Pratik Radheshyam Shah, Kailashben Radheshyam Shah; promoters held 72.03% at 31 March 2026.
What is Parmeshwar Metal's website?
www.parmeshwarmetal.com
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Built from 3 annual reports, 2 credit rating notes, 1 offer document, 4 exchange announcements, 3 shareholding patterns and 8 years of reported results. Every figure carries its source; where the documents are silent, the page says so.