Close 11 Sep 1700 scanned A
NIFTY 5023,398.10-0.34%
BANK NIFTY56,606.55+0.24%
INDIA VIX12.29+4.15%
MIDCAP 15022,847.85-0.25%
SMALLCAP 25018,339.90-0.51%
NEXT 5072,083.70-0.62%
BREADTH60%above 200-DMA
ADV / DEC597 / 1,094
NSE close 11 Sep

SHAHALLOYS

Shah Alloys Limited
Small cap₹183 cr₹0.5 cr traded a dayThin: a ₹2 lakh order is 3.9% of a normal day
Close on 11 September 2026
92.62
−4.28%
52-week range64% of the way up
56.75113.00
Market cap
183 cr
P/E (TTM)
7.1×
EPS (TTM)
13.04
Revenue YoY
-100.0%
Q1 FY27
Growth trend
-0.2pt
vs last quarter’s YoY
1 month
+24.5%
Below 52w high
18.0%
RSI (14)
61
Daily swing
8.8%
average true range
Volume
0.2×
vs 20-day average
Traded
₹1 cr
median day
Close200-day averageMaterial filing
6080100Sep 25Nov 25Jan 26Mar 26May 26Jul 26Sep 26
260 sessions · hover for the filing behind a move

Key metrics

each ranked against every stock scanned tonight
Above the 200-day average
Top of the universe
+32.7%
One-year return
Above the median
+33.6%
Return on capital employed
Top of the universe
27.0%
Debt to equity
Bottom of the universe
0.56×
Profitable quarters, last four
of the last four reported
1 of 4
Cash conversion
cash from operations against reported profit
-275%
Revenue growth, year on year
latest reported quarter
-100.0%
Below the 52-week high
distance from the highest close of the year
18.0%

How it has performed

price return over each window, beside the median NSE stock over the same days
this stockmedian NSE stock, same window-9.0%-7.5 pt vs market1W+24.5%+26.0 pt vs market1M+37.4%+35.1 pt vs market3M+59.3%+39.6 pt vs market6M+33.6%+37.5 pt vs market1Y

The read

written from the numbers on this page
More of the measured facts point up than down5 supporting, 0 against, 0 worth knowing

Supporting

  • trading 33% above its 200-day average
  • up 34% over twelve months
  • matches profit on paper, not in cash, which has beaten the market by +1.99 points over 20 sessions across 3,884 past signals
  • 5 of the scans it matches have a positive measured record
  • 3 independent kinds of evidence agree today, which is uncommon

Against

  • nothing the data supports either way

Worth knowing

  • nothing the data supports either way
The market itself is rangebound tonight. Each scan's record is measured separately for this regime; the figure beside each chip above is the one that applies, not the all-weather number.
What would change these counts: the close crossing its 200-day average, which is 70 tonight and moves every session.
Assembled automatically from the figures on this page — the scans matched, their measured record, the filed financials, the derivatives positioning and the peer comparison. It is not a recommendation, no one has spoken to the company, and every claim above can be checked against a number further down this page.

What is working, what is not

from the filings and from the price, with the figure behind every line
Working2

Trading 32.7% above its 200-day simple average, which is the line most investors use to separate a bull phase from a bear one.

+32.7%

Up 33.6% over the past year.

+33.6%
Needs watching4

Revenue -100.0% year on year, Rs 66 cr to Rs 0 cr.

-100.0%Rs 66 crRs 0 cr

Operating cash flow was Rs -71 cr against Rs 26 cr reported profit, which is -275% of it.

Rs -71 crRs 26 cr-275%

A warning rule fires on it tonight: stretched far above trend.

Stretched far above trend

Only ₹0.5 crore changes hands on a median day. A large order moves this price by itself.

₹0.5 cr
Every figure here is computed — from the company’s own filings, or from its own closing prices. Wording of 1 of these 2 filing lines was drafted by a language model, which is given the figures and may not introduce another — any sentence containing a number that did not come from the filings is discarded before it reaches this page.

What the scans say today

6 of 57 matched on 11 Sep
SHAHALLOYS matches 6 of the 57 scans today, across 3 different kinds of evidence (not counting 2 that match most of the market tonight). Three or more independent families agreeing is uncommon — it is the same test the shortlist on every page uses. It is in the published portfolio of 1 of the 19 methods on the arena tonight.

Published methods holding it tonight

1 of the 19 rule sets on the arena
Tonight SHAHALLOYS is in the published portfolio of 1 of the 19 methods the arena runs. Each is a rule set from a named book or paper, applied mechanically to every company we scan and published before the outcome is known. The record beside each is what that method’s earlier positions did against the market while held — the method’s history, not a forecast for this name.
MethodStyleRank in its listHolds forIn the book sinceRecord
Joel Greenblatt
The Little Book That Still Beats the Market
value7 of 1260 sessions11 Sep
0 sessions, 0.00% vs market so far
-4.56%
vs market per position, 29% ahead, 7 closed
“Holds for” is the method’s stated window in sessions; a name leaves its book when the rules drop it or the window runs out. Every method, its rules and its full ledger are on the arena.

The business

from the company’s filed results
Everything below is taken from the company’s own quarterly filing with the exchange — the XBRL document it submitted, not a vendor’s summary of it. Figures in rupees crore.
14218014311966521000.5%373.8%-2213.2%Q1 FY24Q2 FY24Q3 FY24Q1 FY25Q2 FY25Q3 FY25Q3 FY26Q4 FY26
RevenueNet profit, drawn inside its revenue barNet margin, own scale belowrupees crore, per quarter as filed. Revenue bars start at zero.

Going for it

  • nothing clear in the filed numbers

Going against it

  • revenue fell 100% against the same quarter a year earlier
  • profit dropped 69% year on year
  • revenue rose in 0 of the last 4 quarters
Quarter-by-quarter numbers, as filed
QuarterRevenueProfit before taxNet profitEPSNet margin
Q1 FY27
30 Jun · standalone
0-3-2
Q4 FY26
31 Mar · consolidated
0-7-8-2,213.2%
Q3 FY26
31 Dec · consolidated
10593819.42373.8%
Q3 FY25
31 Dec · consolidated
52-3-2-1.09-4.2%
Q2 FY25
30 Sep · consolidated
66-8-6-3.23-9.6%
Q1 FY25
30 Jun · consolidated
119-9-7-3.38-5.6%
Quarterly filings are unaudited unless stated. Consolidated figures are used where the company files both. A single quarter is a noisy thing — the trend across the column is worth more than the top row.

Quality of the business

balance sheet as at 31 March 2026
Return on equity
23.0%
trailing profit over shareholders’ funds
Return on capital
27.0%
pre-tax profit over equity plus borrowings
Debt to equity
0.56×
63 cr borrowed against 112 cr of equity
Net debt
62 cr
borrowings less cash
Cash conversion
-275%
operating cash flow as a share of profit
Receivable days
6
how long customers take to pay
Return on capital uses profit before tax over equity plus borrowings. The textbook version adds finance costs back; those are not tagged reliably in quarterly filings, so this understates the ratio for a heavily borrowed company rather than flattering it. Balance sheets are filed half-yearly, so these can be up to six months behind the profit figures above.

Valuation against its own history

145 sessions since 23 February 2026
median 6×
now 7×
SHAHALLOYS trades at trailing earnings, above its median of 6× over this window — 17% more expensive than usual. The band runs from the 5th to the 95th percentile, so single-day spikes do not set the edges.
This window is short by the standards of valuation history — it begins where four quarters of filed earnings first exist. A stock can look cheap against two years and expensive against ten.

How it is priced against the universe

tonight’s multiples, ranked against every company we scan
MeasureTonightWhere it ranks
Price to earnings
trailing four quarters of profit
7.1×cheaper than 95% of scanned companies
Price to sales
trailing four quarters of revenue
2.93×cheaper than 43% of scanned companies
Price to book
against shareholders’ funds at the last balance sheet
1.63×cheaper than 81% of scanned companies
Earnings yield14.1%profit as a share of the market value — the P/E upside down
Value composite27average percentile across the three multiples; 0 is the cheapest company scanned, 100 the dearest
Quality checklist
five of Piotroski’s nine tests, the ones Indian filings support
1 of 5✓ profitable over four quarters ✗ cash conversion above 100% ✗ borrowings under half of equity ✗ margin up on a year ago ✗ revenue up on a year ago
A low multiple is a statement about expectations, not about quality: the market usually expects less from a cheap company, and is often right. These are rankings, not fair values.

Recent filings

from the exchange, newest first
AGM / EGM filings were typically +0.17pt vs the market over the next 5 sessions (n=8,423) · Other filing filings were typically +0.01pt vs the market over the next 5 sessions (n=17,202) · Results filings were typically -0.51pt vs the market over the next 5 sessions (n=7,726)
Its own results, and what followed2 filings on file
Over the five sessions after each of its last 2 results filings, SHAHALLOYS moved +13.9% against the market on average and finished ahead of it 2 of 2 times. Across every company’s results filings on file the typical move is -0.51%, higher 46% of the time. A few prints are a small sample; the swing across them says more than the average.
12 Aug +13.9%12 Aug +13.9%

Who bought size here

bulk and block deals disclosed to NSE and BSE, internal transfers removed
Over the last 40 sessions the disclosed tape in SHAHALLOYS reads Two-way churn: buying dominated on 1 session and selling on 0, of 2 with any disclosure. Net +64,393 shares (+0.33% of the equity), ₹0.8cr at the prices dealt. The largest buyer was MANSI SHARE AND STOCK BROKING PRIVATE LI, a company,. The stock has moved -10.2% since the first of these deals.
Session by session, last 40 sessions · up and green when more shares were bought than sold, down and red when more were sold, a flat mark where nothing was disclosed
28 Aug: +400,000 shares9 Sep: -335,607 shares
20 Jul11 Sep
SessionSideCounterpartySharesPriceValue
9 SepSoldKRONE INVESTMENTS
body corporate · BSE
225,60799.00₹2.2cr
9 SepSoldKRONE INVESTMENTS
body corporate · NSE
210,00099.00₹2.1cr
9 SepBoughtRAVIRAJ DEVELOPERS LIMITED
body corporate · BSE
100,00099.00₹1.0cr
28 AugBoughtMANSI SHARE AND STOCK BROKING PRIV
broker · NSE
300,000103.07₹3.1cr
28 AugBoughtSETU SECURITIES PVT LTD
broker · NSE
100,000103.06₹1.0cr
How to read this. A bulk deal is a single trade of more than half a percent of the company’s shares; a block deal is a large trade negotiated off the order book. Both must be disclosed the same day, with the counterparty’s name. When the same name appears on both sides of the same stock on the same day it is an internal transfer and is removed before anything here is counted. Who the counterparty is comes from its name and is a guess. Across every disclosed buy on file, the stock was +0.09% against the market 20 sessions later on average, ahead of it 41% of the time, over 1,370 deals. After a disclosed sell: -1.34% against the market, ahead 41% of the time, 1,439 deals. A disclosure says what someone did, not why, and nothing here says what happens next. Full tape on the Who bought size page.

Where the price stands

the same figures every scan on this site is computed from
Trend
Distance from the averages traders watch. Above all of them is a bull phase; below the 200-day is the line most investors use to say otherwise.
Versus 50-day average+17.5%
Versus 200-day average+32.7%
Below 52-week high18.0%
Above 52-week low+63.2%
Momentum
How hard it has been pushed lately. Above 70 on RSI is stretched, below 30 is washed out — neither is a signal on its own.
RSI (14)61.4
Higher closes in last 52 of 5
Six-month return+59.28%
Risk and liquidity
What a position costs to hold and to exit. Delivery is the share of the day’s volume taken into demat rather than squared off; trade size says whether the day’s tickets were large or small.
Typical daily swing (ATR)8.84%
What ₹1 lakh here moves on a normal dayabout ₹8,836
Volume versus 20-day0.2x
Median daily turnover₹0.5 cr