About
Zenith Steel Pipes & Industries Limited, together with its subsidiaries, manufactures and sells steel pipes in India and internationally. It offers electric resistance welded black and galvanized pipes; and helical submerged arc welded pipes. The company's products are used for various applications, such as agriculture and irrigation water distribution, sprinklers, drill rods, bore-well, construction water distribution, space frames, fences, firefighting and chilled water systems, structural scaffolding and props, green house, industrial general engineering, container making, distribution of gas and crude, transportation of raw and potable water, poles, transmission tower, transportation of oil and gas, transportation of sewage disposal irrigation, piling, ash/slurry transportation, and electricity conduits, as well as the auto industry. It also exports its products to approximately 79 countries, including the United States. The company was formerly known as Zenith Birla (India) Limited and changed its name to Zenith Steel Pipes & Industries Limited in July 2020. The company was incorporated in 1960 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap83 Cr
P/E29.90
Div Yield0.00 %
Book Value₹-17.50
52w High₹10.30
52w Low₹4.39
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7.18 | 11.29 | 9.40 | 14.04 | 18.92 | 24.82 | 35.69 | 30.07 | 28.50 | 43.06 | 45.84 | 27.74 | 24.40 |
| Expenses | 7.30 | 13.88 | 13.02 | 19.47 | 23.37 | 26.86 | 35.68 | 30.64 | 31.15 | 36.33 | 45.23 | 34.27 | 25.48 |
| Operating Profit | -0.12 | -2.59 | -3.62 | -5.43 | -4.45 | -2.04 | 0.01 | -0.57 | -2.65 | 6.73 | 0.61 | -6.53 | -1.08 |
| OPM % | -1.67 | -22.94 | -38.51 | -38.68 | -23.52 | -8.22 | 0.03 | -1.90 | -9.30 | 15.63 | 1.33 | -23.54 | -4.43 |
| Other Income | 1.64 | 5.06 | 6.22 | 7.25 | 6.51 | 5.93 | 0.91 | 1.24 | 1.83 | 4.46 | 0.13 | 0.39 | 0.11 |
| Depreciation | 0.48 | 0.48 | 0.49 | 0.47 | 0.49 | 0.49 | 0.49 | 0.49 | 0.48 | 0.57 | 0.67 | 0.67 | 0.67 |
| Interest | 0.61 | 0.60 | 0.64 | 0.63 | 0.62 | 0.62 | 0.63 | 0.62 | 0.61 | 0.73 | 0.74 | 0.73 | 0.72 |
| Profit before tax | 0.43 | 1.39 | 1.47 | 0.72 | 0.95 | 2.78 | -0.20 | -0.44 | -1.91 | 9.89 | -0.67 | -7.54 | -2.36 |
| Tax % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Profit | 0.44 | 1.39 | 1.47 | 0.72 | 0.96 | 2.78 | -0.20 | -0.44 | -1.92 | 9.89 | -0.67 | -7.54 | -2.36 |
| EPS in Rs | 0.03 | 0.10 | 0.10 | 0.05 | 0.07 | 0.20 | -0.01 | -0.03 | -0.13 | 0.70 | -0.05 | -0.53 | -0.17 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 53.38 | 119.09 | 143.22 | 164.92 | 163.12 | 77.87 | 101.38 | 183.63 | 169.65 | 156.92 | 91.49 | 84.02 |
| Expenses | 69.63 | 124.34 | 143.47 | 177.17 | 148.04 | 79.41 | 132.11 | 297.69 | 211.86 | 176.01 | 128.66 | 141.82 |
| Operating Profit | -16.25 | -5.25 | -0.25 | -12.25 | 15.08 | -1.54 | -30.73 | -114.06 | -42.21 | -19.09 | -37.17 | -57.80 |
| OPM % | -30.44 | -4.41 | -0.17 | -7.43 | 9.24 | -1.98 | -30.31 | -62.11 | -24.88 | -12.17 | -40.63 | -68.79 |
| Other Income | 25.03 | 9.91 | 5.06 | 3.80 | 7.86 | -5.72 | 12.56 | 7.19 | 16.16 | 0.80 | 22.53 | 2.50 |
| Interest | 2.48 | 2.48 | 2.92 | 3.48 | 6.99 | 3.47 | 4.53 | 7.29 | 7.69 | 8.67 | 10.43 | 9.39 |
| Depreciation | 1.92 | 1.95 | 2.58 | 2.45 | 2.67 | 2.84 | 5.65 | 6.01 | 7.33 | 6.24 | 6.11 | 6.29 |
| Profit before tax | 4.38 | 0.23 | -0.69 | -14.38 | 13.28 | -13.57 | -28.35 | -120.17 | -41.07 | -33.20 | -31.18 | -70.98 |
| Tax % | 0.00 | 0.00 | 0.00 | 0.00 | 12.42 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.78 | 0.13 |
| Net Profit | 4.38 | 0.23 | -0.70 | -14.38 | 11.63 | -13.58 | -28.34 | -120.17 | -41.07 | -33.20 | -32.66 | -71.07 |
| EPS in Rs | 0.31 | 0.02 | -0.05 | -1.01 | 0.82 | -0.95 | -2.16 | -9.15 | -3.13 | -2.53 | -2.49 | -5.41 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 142.28 | 142.28 | 142.28 | 142.28 | 142.28 | 142.28 | 131.28 | 131.28 | 131.28 | 131.28 | 131.28 | 131.28 |
| Reserves | -391.21 | -399.03 | -399.14 | -398.40 | -384.20 | -396.00 | -382.53 | -373.06 | -259.78 | -219.43 | -185.96 | -153.30 |
| Borrowings | 220.19 | 215.19 | 215.15 | 219.35 | 227.46 | 227.93 | 246.91 | 283.23 | 295.95 | 299.97 | 291.05 | 276.98 |
| Other Liabilities | 182.68 | 200.11 | 223.68 | 205.67 | 206.88 | 161.73 | 184.24 | 194.63 | 178.83 | 141.16 | 123.25 | 110.60 |
| Total Liabilities | 153.94 | 158.55 | 181.97 | 168.90 | 192.42 | 135.94 | 179.90 | 236.08 | 346.28 | 352.98 | 359.62 | 365.56 |
| Fixed Assets | 40.03 | 41.80 | 43.61 | 44.64 | 44.38 | 48.03 | 65.87 | 74.55 | 80.33 | 91.98 | 97.14 | 97.15 |
| CWIP | 1.29 | 1.20 | 0.82 | 0.99 | 0.00 | 0.00 | 0.00 | 14.44 | 12.78 | 12.70 | 13.26 | 17.04 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Other Assets | 112.62 | 115.55 | 137.54 | 123.27 | 148.04 | 87.91 | 114.02 | 147.08 | 253.16 | 248.29 | 249.21 | 251.36 |
| Total Assets | 153.94 | 158.55 | 181.97 | 168.90 | 192.42 | 135.94 | 179.90 | 236.08 | 346.28 | 352.98 | 359.62 | 365.56 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -1.04 | 6.25 | 4.74 | 17.90 | -1.17 | 16.44 | 24.93 | 21.20 | 4.13 | 7.06 | -5.30 | -30.65 |
| Cash from Investing Activity | -1.19 | -1.28 | -2.47 | -3.24 | 7.71 | -0.65 | 14.06 | -0.13 | 4.87 | -2.47 | 7.37 | 46.51 |
| Cash from Financing Activity | 0.42 | -2.44 | -7.12 | -11.34 | -7.46 | -15.45 | -40.99 | -20.86 | -7.47 | -7.05 | 1.31 | -16.37 |
| Net Cash Flow | -1.81 | 2.53 | -4.84 | 3.32 | -0.92 | 0.34 | -1.99 | 0.21 | 1.54 | -2.46 | 3.38 | -0.51 |
| Free Cash Flow | -1.27 | 5.73 | 3.35 | 14.22 | 7.67 | 15.83 | 24.71 | 20.97 | 9.00 | 4.59 | -6.77 | -30.48 |
| CFO/OP % | 6.00 | -119.00 | -2,456.00 | -135.00 | 24.00 | -1,068.00 | -81.00 | -19.00 | -10.00 | -37.00 | 14.00 | 53.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 390.57 | 173.35 | 150.57 | 104.22 | 112.13 | 56.86 | 31.75 | 71.68 | 249.57 | 293.47 | 435.14 | 448.58 |
| Inventory Days | 72.59 | 52.21 | 90.80 | 62.38 | 107.92 | 82.79 | 32.17 | 2.99 | 9.86 | 37.76 | 98.69 | 78.18 |
| Days Payable | 957.03 | 603.80 | 408.76 | 277.39 | 346.42 | 309.25 | 325.67 | 213.77 | 195.49 | 180.44 | 217.59 | 173.03 |
| Cash Conversion Cycle | -493.87 | -378.24 | -167.38 | -110.79 | -126.37 | -169.60 | -261.75 | -139.11 | 63.95 | 150.79 | 316.23 | 353.73 |
| Working Capital Days | -1,872.66 | -913.77 | -755.38 | -697.44 | -604.38 | -1,357.40 | -1,073.79 | -631.63 | -421.00 | -392.94 | -536.87 | -447.54 |
| ROCE % | — | — | — | — | — | — | -128.38 | -101.76 | -17.29 | -10.89 | -8.45 | -18.80 |
Corporate Actions
24 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Other | 23 Sep 2024 | — | — | — | Annual General Meeting |
| Other | 22 Sep 2023 | — | — | — | Annual General Meeting |
| Other | 22 Sep 2022 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2021 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2020 | — | — | — | Annual General Meeting |
| Other | 19 Sep 2019 | — | — | — | Annual General Meeting |
| Other | 19 Sep 2018 | — | — | — | Annual General Meeting |
| Other | 21 Sep 2017 | — | — | — | Annual General Meeting |
| Other | 15 Sep 2016 | — | — | — | Annual General Meeting |
| Other | 16 Sep 2015 | — | — | — | Annual General Meeting |
| Other | 22 Sep 2014 | — | — | — | Annual General Meeting |
| Other | 16 Sep 2013 | — | — | — | Annual General Meeting |
| Other | 07 Sep 2012 | — | — | — | Annual General Meeting |
| Other | 12 Sep 2011 | — | — | — | Annual General Meeting |
| Bonus | 11 Aug 2010 | 12 Aug 2010 | 1:5 | — | |
| Dividend | 07 Jul 2010 | — | — | 0.60 | NSE/BSE dividend mismatch: BSE/NSE=1.4; BSE=0.6 |
| Dividend | 07 Jul 2010 | — | — | 1.40 | NSE/BSE dividend mismatch: BSE/NSE=1.4; BSE=0.6 |
| Other | 04 Mar 2010 | 05 Mar 2010 | — | — | Scheme of Arrangement |
| Dividend | 15 Sep 2009 | — | — | 0.60 | |
| Dividend | 05 Sep 2008 | — | — | 0.20 | |
| Dividend | 13 Feb 2008 | 14 Feb 2008 | — | 0.50 | |
| Other | 13 Feb 2008 | 14 Feb 2008 | — | — | Interim Div-Rs.0.50 Pr Sh |
| Dividend | 06 Sep 2007 | — | — | 0.60 | |
| Other | 02 Dec 2003 | 10 Dec 2003 | — | — | Reduction of Capital |