Zenith Steel Pipes & Industries Limited (ZENITHSTL) AI Stock Analysis

• Market Cap: ₹1.21B
• Dividend Yield: N/A
• Average Volume (3M): 25.16K
• Price to Earnings (P/E): 39.0
• Beta (1Y): 1.32
• Revenue Growth: -24.55%
• EPS Growth: N/A
• Country: IN
• Employees: 166
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Steel
• EPS (TTM): 0.07
• Shares Outstanding: 142,280,440
• 10 Day Avg. Volume: 42,357
• 30 Day Avg. Volume: 25,164
• PEG Ratio: -2.41
• Price to Book (P/B): -0.30
• Price to Sales (P/S): 0.64
• P/FCF Ratio: 11.21
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: ₹8.50 ▲(2.53% Upside)

Zenith Steel Pipes & Industries Limited's overall stock score is primarily impacted by its financial instability, characterized by high leverage and low profitability. While technical indicators show some positive momentum, the stock's high P/E ratio and lack of dividend yield suggest caution. Investors should be wary of the financial risks despite short-term technical strength.

Zenith Steel Pipes & Industries Limited Business Overview & Revenue Model

Company Description

Zenith Steel Pipes & Industries Limited (ZENITHSTL) is a leading manufacturer and supplier of steel pipes and related products, serving a diverse range of sectors including construction, infrastructure, and energy. The company specializes in producing high-quality steel pipes that meet international standards, catering to both domestic and export markets. With a robust portfolio that includes seamless and welded pipes, ZENITHSTL is committed to innovation and sustainability in its manufacturing processes, aiming to provide durable and reliable solutions for its customers.

How the Company Makes Money

ZENITHSTL generates revenue primarily through the sale of its steel pipes and related products. The company's revenue model is anchored in direct sales to industrial clients, construction firms, and government contracts, which constitute a significant portion of its income. Key revenue streams include bulk orders for large construction projects, ongoing contracts with energy companies for pipeline infrastructure, and custom manufacturing services for specialized pipe requirements. Additionally, ZENITHSTL may benefit from strategic partnerships with suppliers and distributors, which enhance its market reach and operational efficiency. Factors contributing to its earnings include the demand for steel products in construction and infrastructure development, fluctuations in raw material costs, and the company's ability to maintain competitive pricing while ensuring high product quality.

Zenith Steel Pipes & Industries Limited Financial Statement Overview

Summary

Zenith Steel Pipes & Industries Limited faces significant financial challenges. The company has declining revenue, low profitability, and high leverage with negative equity, indicating financial instability. Despite some improvement in cash flow, the overall financial health is concerning.

Income Statement

Zenith Steel Pipes & Industries Limited has experienced declining revenue over recent years, with a significant drop in gross profit margin in the most recent year. The company reported a net profit margin of 0.19% for 2025, a slight improvement from the previous year but still indicative of low profitability. The EBIT and EBITDA margins are negative, indicating operational challenges. Despite some improvement in net income, the company struggles to maintain profitability.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio due to negative stockholders' equity, which poses a significant financial risk. The equity ratio is negative, highlighting the company's reliance on debt financing. This high leverage and negative equity position indicate financial instability and potential solvency issues.

Cash Flow

The cash flow statement shows a positive trend in operating cash flow, which increased in the most recent fiscal year. The free cash flow has also improved, indicating better cash management. However, the free cash flow to net income ratio suggests that cash generation is not yet robust, considering the low net income levels.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.10B	1.19B	1.43B	1.48B	1.50B	557.39M
Gross Profit	573.43M	646.26M	246.96M	12.00K	448.85M	-80.38M
EBITDA	77.98M	49.13M	50.43M	-52.05M	237.83M	91.74M
Net Income	30.99M	2.25M	-6.96M	-143.84M	116.28M	-135.75M
Balance Sheet
Total Assets	0.00	1.59B	1.82B	1.69B	1.92B	1.36B
Cash, Cash Equivalents and Short-Term Investments	33.34M	33.34M	4.31M	58.79M	19.53M	28.73M
Total Debt	0.00	2.15B	2.15B	2.20B	2.05B	2.06B
Total Liabilities	2.57B	4.15B	4.39B	4.25B	4.34B	3.90B
Stockholders Equity	-2.57B	-2.57B	-2.57B	-2.56B	-2.42B	-2.54B
Cash Flow
Free Cash Flow	0.00	67.90M	33.58M	141.90M	-16.11M	158.29M
Operating Cash Flow	0.00	62.48M	47.44M	179.00M	-11.73M	164.42M
Investing Cash Flow	0.00	-15.61M	-24.18M	-42.87M	87.46M	-2.74M
Financing Cash Flow	0.00	-24.44M	-71.15M	-113.38M	-74.58M	-154.52M

Zenith Steel Pipes & Industries Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 8.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZENITHSTL, the sentiment is Neutral. The current price of 8.29 is below the 20-day moving average (MA) of 8.98, above the 50-day MA of 8.08, and above the 200-day MA of 7.58, indicating a neutral trend. The MACD of 0.14 indicates Positive momentum. The RSI at 45.10 is Neutral, neither overbought nor oversold. The STOCH value of 5.57 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ZENITHSTL.

Zenith Steel Pipes & Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HISARMETAL	63 Neutral	₹987.39M	36.04	―	0.56%	0.22%	-50.63%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MANAKSIA	58 Neutral	₹4.37B	8.10	―	―	40.00%	-23.59%
SALSTEEL	57 Neutral	₹3.43B	-21.08	―	―	4.71%	-3228.92%
SHAHALLOYS	52 Neutral	₹1.59B	-8.47	―	―	-69.90%	27.84%
ZENITHSTL	51 Neutral	₹1.21B	39.03	―	―	-24.55%	―

Zenith Steel Pipes & Industries Limited Corporate Events

Zenith Steel Pipes Announces AGM Voting Results

Zenith Steel Pipes & Industries Limited announced the results of its 63rd Annual General Meeting held on September 30, 2025. The meeting, conducted via video conferencing, included remote e-voting and voting during the AGM. The scrutinizer’s report on the voting results is available on the company’s website. This announcement reflects the company’s adherence to regulatory requirements and transparency in its corporate governance practices.

Zenith Steel Pipes Ensures Compliance with SEBI Regulations

Zenith Steel Pipes & Industries Limited has announced compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter and half-year ending on September 30, 2025. The company confirmed that securities received for dematerialization were processed appropriately, ensuring they are listed on the stock exchange, reflecting a commitment to regulatory standards and operational transparency.

Zenith Steel Pipes Announces Book Closure for AGM

Zenith Steel Pipes & Industries Limited has announced the closure of its Register of Members and Share Transfer Books from September 24 to September 30, 2025, in preparation for its 63rd Annual General Meeting scheduled for September 30, 2025. This announcement is in compliance with Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is significant for stakeholders as it marks a key administrative step in the company’s annual governance process.

Zenith Steel Pipes Approves Q1 Results and Appoints New Auditor

Zenith Steel Pipes & Industries Limited held a board meeting on August 13, 2025, where they approved the unaudited financial results for the first quarter ending June 30, 2025. Additionally, the board appointed M/s. Varun Kabra & Associates as the new Secretarial Auditor for five years, replacing M/s. Anil Somani & Associates, and adopted a new Code of Conduct for trading and disclosure practices. These decisions reflect the company’s ongoing efforts to enhance corporate governance and transparency, potentially impacting its market position and stakeholder confidence.

Zenith Steel Pipes Announces Q1 Results and Auditor Changes

Zenith Steel Pipes & Industries Limited announced the approval of its unaudited financial results for the first quarter ending June 30, 2025, and the appointment of M/s. Varun Kabra & Associates as the new Secretarial Auditor for the next five years, replacing M/s. Anil Somani & Associates. The board also adopted a new Code of Conduct for trading and disclosure practices. These decisions are expected to enhance the company’s governance and compliance framework, potentially impacting its market position positively.