Madhur Iron and Steel (India) Unlisted Shares

A Bhilai Steel Maker That Has More Than Doubled Its Sales in Three Years

India is spending heavily on roads, railways, power lines and factories, and every one of those projects needs steel. Madhur Iron and Steel makes steel products from its base in Bhilai, Chhattisgarh, one of the country’s best-known steel towns. The company was incorporated in 2012 and has been growing steadily since.

Revenue has grown from ₹193 Cr to ₹444 Cr, and profit has grown about four times over the same period. Margins have also improved from under 7% to almost 12%, so the company is earning more on every rupee of sales as it grows. That is what investors look for in a steel business.

One thing to know: EPS fell from ₹18.15 in FY24 to ₹8.02 in FY26 even though profit kept rising. That happens when a company issues more shares, so the same profit is shared among more shareholders. Judge the company on profit growth, and check the share count.

At ₹144 per share, the market cap is ₹432 Cr and the P/E is 18.23. That is a reasonable price for a business growing profit at this pace. The lot size is 10,000 shares, so one lot costs about ₹14.4 lakh. This suits investors who are comfortable with a larger ticket and want to own a profitable, growing manufacturer before any listing.

CMP: ₹144 | Market Cap: ₹432 Cr | Book Value: ₹39.58 | P/E: 18.23 | Lot Size: 10,000 | Sector: Manufacturing