DRHP Status : Yes Filed
250
All documents are provided for informational purposes and are subject to regulatory disclosures.
|
Particulars |
31-03-2024 |
31-03-2023 |
|
Income |
|
|
|
Revenue from operations |
3,83,421.25 |
3,16,351.92 |
|
Other income |
2,822.61 |
2,075.23 |
|
Total Income |
3,86,243.86 |
3,18,427.15 |
|
Expenses |
|
|
|
Cost of materials consumed |
3,39,451.31 |
2,79,901.27 |
|
Changes in inventories |
-9,228.94 |
-9,985.59 |
|
Employee benefit expense |
4,082.17 |
3,131.89 |
|
Finance costs |
9,729.84 |
7,069.70 |
|
Depreciation and amortisation |
4,321.76 |
3,273.23 |
|
Other expenses |
32,069.79 |
21,553.38 |
|
Total Expenses |
3,80,425.93 |
3,04,943.88 |
|
Profit before tax |
5,817.93 |
13,483.27 |
|
Current Tax |
1,674.84 |
3,624.13 |
|
Deferred Tax charge/(benefit) |
251.72 |
89.48 |
|
Profit after tax |
3,891.37 |
9,769.66 |
|
Other comprehensive income |
|
|
|
Items that will be reclassified to profit or loss: |
|
|
|
Exchange differences on translating the Financial Information of a foreign operation |
7.42 |
0.73 |
|
Items that will not be reclassified to profit or loss: |
|
|
|
Remeasurement of defined benefit plans |
-7.93 |
24.35 |
|
Income tax relating to these items |
2.00 |
-6.13 |
|
Total other comprehensive income/(loss |
1.49 |
18.95 |
|
Total comprehensive income/(loss) for the period/year |
3,892.86 |
9,788.61 |
|
Total Profit/(loss) for the period/year attributable to : |
|
|
|
Owners of the company |
3,844.94 |
9,769.66 |
|
Non-controlling interests |
46.43 |
- |
|
Other comprehensive income/(loss) for the period/year attributable to |
|
|
|
Owners of the company |
1.49 |
18.95 |
|
Total comprehensive income/(loss) of the period/year attributable to: |
|
|
|
Owners of the company |
3,864.43 |
9,788.61 |
|
Non-controlling interests |
46.43 |
- |
|
Restated Basic and diluted earnings per share |
6.64 |
16.68 |
|
Particulars |
31-03-2024 |
31-03-2023 |
|
Non-Current Assets |
|
|
|
Property, plant and equipment |
44,035.95 |
34,642.23 |
|
Capital work-in-progress |
8,738.30 |
4,699.53 |
|
Right-of-use assets |
9,888.00 |
10,468.97 |
|
Goodwill |
0.08 |
0.08 |
|
Other Intangible assets |
40.03 |
58.25 |
|
Investments |
6,175.59 |
4,978.72 |
|
Other financial assets |
8,048.71 |
7,439.37 |
|
Non-current tax assets |
163.93 |
164.22 |
|
Other non-current assets |
1,928.82 |
2,426.96 |
|
Current Assets |
|
|
|
Inventories |
56,145.20 |
54,350.29 |
|
Trade receivables |
48,408.28 |
32,092.29 |
|
Cash and cash equivalents |
4,973.91 |
7,151.54 |
|
Bank balances other than cash |
7,699.73 |
6,373.08 |
|
Loans |
93.16 |
66.78 |
|
Other financial assets (current) |
762.08 |
2,541.12 |
|
Current Tax Asset |
421.68 |
46.53 |
|
Other current assets |
42,063.70 |
29,889.83 |
|
Total Assets |
2,39,587.15 |
1,97,389.79 |
|
Equity |
|
|
|
Equity share capital |
1,673.72 |
1,673.72 |
|
Other equity |
42,343.08 |
36,424.73 |
|
Non-Controlling Interest |
474.41 |
- |
|
Non-Current Liabilities |
|
|
|
Borrowings |
25,094.45 |
23,653.15 |
|
Lease liabilities |
11,104.17 |
11,285.90 |
|
Other financial liabilities |
2,274.33 |
2,105.86 |
|
Provisions |
401.44 |
235.99 |
|
Deferred tax liabilities |
825.90 |
575.80 |
|
Other non-current liabilities |
5,252.16 |
5,729.52 |
|
Current Liabilities |
|
|
|
Borrowings |
79,158.43 |
88,950.93 |
|
Lease liabilities |
197.50 |
209.85 |
|
Trade payables |
|
|
|
total outstanding dues of micro and small enterprises |
603.92 |
439.70 |
|
total outstanding dues of creditors other than above |
54,590.38 |
19,200.79 |
|
Other financial liabilities |
953.35 |
1,219.80 |
|
Other current liabilities |
14,190.36 |
5,302.63 |
|
Provisions |
11.32 |
6.57 |
|
Current tax liabilities |
438.23 |
374.85 |
|
Total Equity and Liabilities |
2,39,587.15 |
1,97,389.79 |
A One Steels India Limited (ASIPL) is a backwards-integrated steel manufacturing company headquartered in Southern India, with a strong operational presence across Karnataka and Andhra Pradesh.
The company operates six manufacturing plants and produces a diversified range of steel products, including TMT bars, steel pipes, coils, and sponge iron, catering largely to the infrastructure and construction sectors.
ASIPL has built a strong regional footprint in Southern India, supported by a wide retail distribution network of over 1,200 outlets.
A key differentiator for the company is its focus on sustainability—84% to 87% of its power consumption comes from renewable energy, positioning it among the relatively greener players in the mid-sized steel segment.
The company is preparing for a ₹650 crore IPO (₹600 crore fresh issue and ₹50 crore offer-for-sale), with proceeds proposed to be utilised for capacity expansion, green energy initiatives, and debt reduction.
A One Steel follows a backwards-integrated business model, which helps it control raw material availability and partially mitigate cost volatility inherent in the steel industry. Its integrated operations span sponge iron manufacturing to finished steel products, enabling supply chain efficiencies.
Key operational highlights include:
The following is the product portfolio of A One Steels India Limited:
These products primarily cater to the construction, infrastructure, and real estate segments.
The following outlines ASIPL’s market positioning.
The following provides a consolidated financial performance review.
Based on the current unlisted valuation of ₹2,636 crore, the trailing P/E stands at ~67.75x, reflecting a premium valuation despite thin margins typical of commodity businesses.
The projected improvement in profitability suggests operating leverage benefits, although margins remain sensitive to steel price cycles and input costs.
The following summarises valuation-related details.
| Date | Type | Amount Raised | Valuation | Price / Share |
|---|---|---|---|---|
| Dec 2015 | Rights Issue | ₹2 Cr | ₹9 Cr | ₹100 |
| Mar 2021 | Rights Issue | ₹27.52 Cr | ₹894 Cr | ₹688 |
| Jun–Jul 2024 | Private Placement | ₹24.72 Cr | ₹1,711 Cr | ₹250 |
| 2025 | Unlisted Market | - | ₹2,636 Cr | ₹385 |
The following table compares ASIPL with its listed peers:
| Company | Revenue (₹ Cr) | EBITDA Margin | PAT Margin | ROCE | D/E | Market Cap (₹ Cr) | P/E |
|---|---|---|---|---|---|---|---|
| A One Steels India Ltd (FY24) | 3,834 | 5.18% | 1.01% | 10.45% | 2.34 | 2,636 | 67.75x |
| Jai Balaji Industries (FY25) | 6,351 | ~13.6% | 8.78% | 36.10% | 0.26 | 10,336 | 18.6x |
| Shyam Metallics & Energy (FY25) | 15,945 | 12.30% | 6.00% | 12.00% | 0.07 | 27,342 | 29.7x |
| MSP Steel & Power (FY25) | 2,844 | 4.61% | -0.98% | 6.23% | 0.27 | 1,974 | Loss |
The following outlines key challenges for A One Steels India Limited.
The following are the promoters and management of A One Steels India Ltd:
The company is promoted by a family, specifically:
A One Steels India Limited is a backwards-integrated steel manufacturing company with a strong footprint in Southern India, operating six plants across Karnataka and Andhra Pradesh. The company manufactures TMT bars, pipes, coils, and sponge iron, supported by a wide retail network of over 1,200 outlets.
A key differentiator for A One Steels is its high reliance on renewable energy, with nearly 84–87% of its power consumption sourced from clean energy. While the business has demonstrated steady revenue traction, profit margins remain thin and leverage levels are relatively high, which is common in commodity-driven steel businesses.
At an unlisted share price of around ₹250 per share, investors are closely tracking the company due to its upcoming IPO plans, regional dominance, and sustainability focus, while also remaining cautious about valuation and execution risks.
| Name | Holding |
|---|---|
| Promoters | 85.86% |
| Public Shareholding | 14.14% |
Coming soon...
A One Steels India Limited is a backwards-integrated steel manufacturer producing TMT bars, steel pipes, coils, and sponge iron, with a strong presence in Southern India.
No, A One Steels India Limited is currently an unlisted company and is planning to come out with an IPO in the near future.
You can buy A One Steels India Limited unlisted shares through UnlistedKraft, a trusted platform for buying and selling verified unlisted shares in India.
The current unlisted market price of A One Steels India Limited shares is around ₹250 per share, subject to demand, supply, and deal size.
Investors are tracking A One Steels India Limited unlisted shares due to its integrated operations, renewable energy usage, regional dominance, and upcoming IPO plans.
Key risks include thin profit margins, high debt levels, commodity price volatility, and valuation sensitivity ahead of the IPO.
Yes, when you buy A One Steels India Limited unlisted shares via UnlistedKraft, transactions are conducted with proper documentation, verified sellers, and demat transfer.