Kalyani Steels Ltd (KSL) AI Stock Analysis

Kalyani Steels Ltd

(NSE:KSL)

Select Model

Rating:68Neutral

Price Target:INR 1,034.00▲(25.67% Upside)

Action:downgraded

Date:08/11/26

Strong financial stability with growing equity and resilient profits drives the score, tempered by bearish short-term technicals in a volatile market; fair valuation adds moderate support.

Positive Factors

Conservative and improving leverageThe improving debt-to-equity ratio and steady equity growth indicate manageable balance-sheet risk despite operating in a cyclical steel industry. Lower leverage should preserve financial flexibility, reduce dependence on external funding, and support continued investment or resilience through weaker market conditions.

Negative Factors

Cyclical and declining revenueThe recent revenue decline and uneven multi-year growth pattern show that KSL remains exposed to steel-cycle conditions and industrial demand fluctuations. In a volume-driven manufacturing model, weaker sales can reduce fixed-cost absorption and make future earnings growth less predictable even when profitability remains positive.

Kalyani Steels Ltd (KSL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 36.48B
Dividend Yield: 1.22%
Average Volume (3M): 5,300
Price to Earnings (P/E): 12.8
Beta (1Y): 1.23
Revenue Growth: -4.88%
EPS Growth: -0.48%
Country: India
Employees: 94
Sector: General
Sector Strength: 55
Industry: Steel

Kalyani Steels Ltd Business Overview & Revenue Model

Company Description

Kalyani Steels Limited, a company established in 1973 and headquartered in Pune, India, specializes in the production and distribution of iron and steel goods. The firm supplies a variety of rolled bars tailored for numerous vehicular applications, i...

How the Company Makes Money

KSL makes money primarily by manufacturing and selling carbon and alloy steel long products (notably steel bars/rolled products) to industrial and OEM customers. Revenue is largely generated from: (1) Sale of finished steel products: KSL converts raw...

Kalyani Steels Ltd Financial Statement Overview

Summary

Solid equity growth and profitability with net income rising to 2.6 billion in 2026 and improved margins, offset by volatile cash flows and recent revenue decline in a cyclical steel market.

Income Statement

75Positive

Balance Sheet

85Very Positive

Cash Flow

65Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	18.83B	18.46B	19.82B	19.59B	18.99B	16.96B
Gross Profit	5.03B	4.03B	5.57B	5.29B	4.28B	4.41B
EBITDA	4.20B	4.13B	3.73B	4.20B	3.02B	3.85B
Net Income	2.64B	2.58B	2.56B	2.49B	1.67B	2.43B
Balance Sheet
Total Assets	0	29.96B	27.32B	25.73B	23.51B	22.58B
Cash, Cash Equivalents and Short-Term Investments	8.24B	8.25B	7.48B	5.87B	7.48B	9.73B
Total Debt	0	4.75B	4.38B	5.96B	5.06B	4.38B
Total Liabilities	-21.05B	8.91B	8.41B	8.93B	8.61B	8.90B
Stockholders Equity	21.05B	21.05B	18.91B	16.80B	14.89B	13.67B
Cash Flow
Free Cash Flow	1.05B	1.01B	3.57B	-2.58B	-2.37B	1.87B
Operating Cash Flow	1.39B	1.62B	3.82B	3.02B	-1.26B	3.62B
Investing Cash Flow	-762.18M	-1.62B	-1.35B	-2.83B	1.53B	-4.74B
Financing Cash Flow	-710.35M	-62.19M	-2.52B	-96.75M	-390.48M	1.23B

Kalyani Steels Ltd Technical Analysis

Technical Analysis SentimentNegative

Last Price822.80

Price Trends

50DMA923.62Negative

100DMA890.84Negative

200DMA812.74Positive

Market Momentum

MACD-23.10Positive

RSI32.38Neutral

STOCH23.79Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KSL, the sentiment is Negative. The current price of 822.80 is below the 20-day moving average (MA) of 915.09, below the 50-day MA of 923.62, and above the 200-day MA of 812.74, indicating a neutral trend. The MACD of -23.10 indicates Positive momentum. The RSI at 32.38 is Neutral, neither overbought nor oversold. The STOCH value of 23.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KSL.

Kalyani Steels Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:KSL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:RATNAMANI	71Outperform	INR 162.60B	37.55	―	0.43%	-16.30%	-24.14%
IN:KSL	68Neutral	INR 35.92B	12.75	―	1.22%	-4.88%	-0.48%
IN:JSL	68Neutral	INR 555.86B	16.65	―	0.44%	11.65%	20.53%
IN:MUKANDLTD	62Neutral	INR 20.41B	3.23	―	2.12%	7.62%	684.82%
IN:SUNFLAG	57Neutral	INR 70.74B	34.29	―	0.25%	9.35%	4.58%
IN:JINDALSTEL	56Neutral	INR 1.08T	37.83	―	0.19%	25.54%	3.72%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:KSL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:KSL	Kalyani Steels Ltd	822.80	-51.23	-5.86%
IN:JINDALSTEL	Jindal Steel Limited	1055.40	-18.57	-1.73%
IN:JSL	Jindal Stainless Limited	674.25	-72.54	-9.71%
IN:MUKANDLTD	Mukand Limited	141.25	3.15	2.28%
IN:RATNAMANI	Ratnamani Metals & Tubes Ltd.	2319.85	-150.56	-6.09%
IN:SUNFLAG	Sunflag Iron & Steel Co. Ltd.	392.50	126.08	47.32%

Kalyani Steels Ltd Corporate Events

ICRA Reaffirms Top-Tier Commercial Paper Rating for Kalyani Steels

Jul 31, 2026

Kalyani Steels Ltd is an Indian steel manufacturer based in Pune, operating in the alloy and special steel segment and serving industrial customers across sectors such as automotive and engineering. The company is listed on both BSE and the National...

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: Aug 11, 2026

Kalyani Steels Ltd AI Stock Analysis