Rs 75 to Rs 475: This metal stock turned into a multibagger in three years 

Shares of Steelcast Ltd have rallied over 500% in the last three years. The stock, which closed at Rs 75.85 on April 21, 2020, rose to a high of Rs 475 on the BSE today, clocking a rally of 526% during the period. An amount of Rs 1 lakh invested in the shares of Steelcast three years ago would have turned into Rs 6.26 lakh today. In comparison, Sensex has risen 94.72 per cent during the period.

In the current session, Steelcast stock ended flat at Rs 475 against the previous close of Rs 475.05 on BSE. Earlier, the stock opened flat at Rs 463.20 on BSE. It hit a 52 week high of Rs 572 on February 28, 2023 and a 52 week low of Rs 271.25 on May 25, 2022.

In terms of technicals, the relative strength index (RSI) of the Steelcast stock stands at 49.9, signaling it's trading neither in the overbought zone nor in the oversold zone. Steelcast shares have a beta of 0.9, indicating low volatility in a year. Steelcast shares are trading higher than the 20 day and 200 day moving averages but lower than 5 day, 50 day and 100 day moving averages. 

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The share has gained 30.24% in a year and gained 4.57% this year. Total 265 shares of the firm changed hands amounting to a turnover of Rs 1.26 lakh on BSE. Market cap of the firm stood at Rs 961.40 crore . 

Six promoters held 46.07 per cent stake in the firm and 5741 public shareholders owned 53.93 per cent or 1.09 crore shares for the quarter ended March 2023. Of these, 5263 resident individuals held 40.76 lakh shares or 20.14% stake with capital up to Rs 2 lakh. Only 24 resident individuals with 12.82% stake held capital above Rs 2 lakh for the quarter ended March 2023. 

In the December quarter of last fiscal, net profit of Steelcast rose 125.76% to Rs 19.28 crore against Rs 8.54 crore during the quarter ended December 2021. Sales grew 51.56% to Rs 119.73 crore in Q3 against Rs 79 crore during the quarter ended December 2021.   

According to annual earnings for the fiscal ended March 2022, Steelcast reported a 176.79 per cent rise in profit to Rs 33.27 crore against a profit of Rs 12.02 crore in the year ago period.  Losses for March 2020 fiscal stood at Rs 7.98 crore.

Sales zoomed 91.49% to Rs 302.04 crore in the last fiscal against Rs 157.73 crore for the fiscal ended March 2021. Sales for the fiscal ended March 2020 stood at Rs 200.59 crore. 

About the Company 

Steelcast is a manufacturer of steel & alloy steel castings from India. It serves Original Equipment Manufacturers (OEMs) for industry sectors like earth moving, mining & mineral processing, steel plants, cement, thermal & hydro power, valves & pumps, electro locomotive, aerobridge, oil field, shipping and general engineering.

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