Ashoka Metcast Limited (ASHOKAMET) AI Stock Analysis

Ashoka Metcast Limited

(NSE:ASHOKAMET)

Select Model

Rating:70Outperform

Price Target:INR 15.50▲(11.51% Upside)

Action:reiterated

Date:10/16/26

Attractive valuation with a low P/E and solid financial performance from balance sheet strength primarily support the score, while technical indicators provide additional positive momentum.

Positive Factors

Net income growthThe substantial increase in net income indicates that the business has improved its earnings power from a low base. If profitability is maintained, stronger earnings can support internal reinvestment, improve balance-sheet resilience, and provide a firmer foundation for future growth.

Negative Factors

Weak cash conversionPersistently negative operating cash flow shows that reported earnings are not consistently converting into cash. This can increase reliance on borrowing or other funding sources, constrain reinvestment, and heighten liquidity risk over the next several quarters.

Ashoka Metcast Limited (ASHOKAMET) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 372.44M
Dividend Yield: ―
Average Volume (3M): 18.56K
Price to Earnings (P/E): 2.5
Beta (1Y): 1.40
Revenue Growth: ―
EPS Growth: ―
Country: India
Employees: 2
Sector: General
Sector Strength: 55
Industry: Steel

Ashoka Metcast Limited Business Overview & Revenue Model

Company Description

Ashoka Metcast Limited, founded in 2009, is headquartered in Ahmedabad, India. The company's primary activities revolve around the purchase and sale of steel, alongside a variety of other goods and merchandise, predominantly within the Gujarat area....

How the Company Makes Money

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Ashoka Metcast Limited Financial Statement Overview

Summary

Net income growth and robust balance sheet with low leverage are offset by volatile revenues and negative operating cash flows.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	309.49M	277.02M	389.63M	662.49M	511.89M	670.29M
Gross Profit	140.06M	116.52M	76.07M	127.75M	76.64M	90.10M
EBITDA	183.08M	158.76M	101.38M	67.90M	49.83M	42.28M
Net Income	129.08M	108.00M	73.39M	47.94M	32.21M	20.91M
Balance Sheet
Total Assets	0	2.08B	1.43B	1.38B	1.33B	741.77M
Cash, Cash Equivalents and Short-Term Investments	17.88M	17.88M	7.99M	15.06M	13.80M	2.13M
Total Debt	0	577.28M	149.34M	166.50M	157.52M	208.95M
Total Liabilities	-1.34B	746.18M	242.27M	266.32M	264.81M	309.51M
Stockholders Equity	1.34B	1.22B	1.11B	1.05B	1.01B	406.26M
Cash Flow
Free Cash Flow	-61.05M	-216.35M	-79.37M	70.98M	-479.86M	-146.79M
Operating Cash Flow	-58.39M	-171.85M	-62.66M	158.97M	-472.07M	-145.75M
Investing Cash Flow	40.53M	14.66M	-24.16M	-133.20M	-104.82M	-36.38M
Financing Cash Flow	18.25M	167.07M	79.76M	-24.52M	529.11M	182.12M

Ashoka Metcast Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price13.90

Price Trends

50DMA14.52Negative

100DMA14.56Negative

200DMA14.82Negative

Market Momentum

MACD-0.19Positive

RSI46.20Neutral

STOCH16.37Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASHOKAMET, the sentiment is Negative. The current price of 13.90 is below the 20-day moving average (MA) of 14.54, below the 50-day MA of 14.52, and below the 200-day MA of 14.82, indicating a bearish trend. The MACD of -0.19 indicates Positive momentum. The RSI at 46.20 is Neutral, neither overbought nor oversold. The STOCH value of 16.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ASHOKAMET.

Ashoka Metcast Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ASHOKAMET against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:VENUSPIPES	78Outperform	INR 37.32B	35.91	―	0.08%	21.73%	13.47%
IN:ASHOKAMET	70Outperform	INR 353.69M	2.52	―	―	―	―
IN:STEELCAS	68Neutral	INR 35.03B	38.89	―	0.52%	8.91%	14.58%
IN:ELECTCAST	62Neutral	INR 39.27B	32.43	―	1.42%	-15.69%	-78.92%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:HITECH	53Neutral	INR 13.90B	18.35	―	0.04%	61.15%	-9.11%
IN:GFSTEELS	47Neutral	INR 1.14B	39.66	―	―	―	―

* General Sector Average

Performance Comparison

IN:ASHOKAMET and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ASHOKAMET	Ashoka Metcast Limited	13.90	-2.84	-16.97%
IN:ELECTCAST	Electrosteel Castings Ltd.	66.38	-22.03	-24.91%
IN:GFSTEELS	Grand Foundry Ltd.	36.75	27.70	306.08%
IN:HITECH	Hi-Tech Pipes Ltd.	73.03	-38.52	-34.53%
IN:STEELCAS	Steelcast Ltd.	362.55	148.45	69.34%
IN:VENUSPIPES	Venus Pipes & Tubes Ltd.	1752.85	485.24	38.28%

Ashoka Metcast Limited Corporate Events

Ashoka Metcast Names New Company Secretary and Compliance Officer

Jul 30, 2026

Ashoka Metcast Limited’s board has approved the appointment of Ankur Rastogi as Company Secretary and Compliance Officer, effective July 29, 2026. Rastogi, a qualified company secretary, law graduate, and commerce professional with over eight y...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 16, 2026

Ashoka Metcast Limited AI Stock Analysis