Key Metrics of Aarti Steels Limited
About Aarti Steels Limited
Sectors
Company details
- Registered office
- G T Road, Miller Ganj, Ludhiana, In-pb, 141003
Operational Areas of Aarti Steels Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
Sign in with access to company financials to review vendor evidence.
Credit ratings
PositiveUpgraded by ICRA on 29 Sep 2026 (from A)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | ICRA | Upgraded (from A) | A+ | A1 | Stable | ₹654 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Long operational track record and experience of promoters in steel business
The Aarti Group has been involved in steel manufacturing for more than four decades since the commissioning of the plant in Ludhiana (currently under ASIL) in 1979.
+ Established association with reputed players in automotive industry and track record of repeat business
The company’s plant in Cuttack is approved by major automobile OEMs in eastern, western and southern India for supplying rolled steel products.
+ Value-added products and vertically integrated operation with presence of captive power plants to support earnings
The rolled products manufactured by ASL are made of carbon and alloy steels, which are relatively value -added items used in automobile parts.
Credit challenges
− High working capital intensity of operations
The company has high receivables and stocking requirements, and its creditors remain limited.
Could lead to an upgrade
A material improvement in the company’s revenue and scale, strengthening its
Could lead to a downgrade
The ratings may be downgraded if a sustained decline in the company’s revenue or profitability adversely impacts its debt protection metrics and
Agency-reported financials (ICRA, 29 Sep 2026)
| Metric | FY2025 | FY2026 | FY2025 | FY2026 |
|---|---|---|---|---|
| Operating income | ₹1,551 Cr | ₹1,737 Cr | ₹1,551 Cr | ₹1,737 Cr |
| PAT | ₹32.60 Cr | ₹35.30 Cr | ₹32.60 Cr | ₹35.30 Cr |
| OPBDITA/OI | 8.3% | 7.5% | 8.3% | 7.5% |
| PAT/OI | 2.1% | 2.0% | 2.1% | 2.0% |
| Total outside liabilities/Tangible net worth (times) | 0.80× | 0.80× | 0.80× | 0.80× |
| Total debt/OPBDITA (times) | 2.90× | 2.00× | 2.90× | 2.00× |
| Interest coverage (times) | 3.90× | 5.10× | 3.90× | 5.10× |
| Revenue growth (YoY) | — | 12.0% | −10.7% | 12.0% |
| EBITDA (margin × income) | ₹129 Cr | ₹130 Cr | ₹129 Cr | ₹130 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹373 Cr | ₹261 Cr | ₹373 Cr | ₹261 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹33.01 Cr | ₹25.55 Cr | ₹33.01 Cr | ₹25.55 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term – Fund based –Cash credit () | Working capital & bank lines | ₹300 Cr | ₹300 Cr | 0.0% | A+ (Stable) | Upgraded | ICRA |
| Long term – Fund based –Term loan () | Term loans | ₹109 Cr | ₹109 Cr | 0.0% | A+ (Stable) | Upgraded | ICRA |
| Short term Non-fund based | Non-fund based limits | ₹144 Cr | ₹144 Cr | 0.0% | A1 | Upgraded | ICRA |
| credit Short term– Others | Working capital & bank lines | ₹100 Cr | ₹100 Cr | 0.0% | A1 | Upgraded | ICRA |
| Long term/Short term | Working capital & bank lines | ₹1.39 Cr | ₹1.39 Cr | 0.0% | A+ / A1 (Stable) | Upgraded | ICRA |
Credit assessment · Iron & steel
ICRA Rating Methodology – Iron & Steel (Jun 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 22% |
| Information on file | 33% · missing: Annual results history (3+ years), Liquidity position, Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 53% chance the next rating action is stable or better
- Current rating A+ (investment grade)
- Interest coverage 5.1×
Rated limits by facility
Timeline
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Aarti Steels Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Pipes & Tubes · Steel, Metals & Pipes | surya.co.in | — | Bahadurgarh, India | |
 Mukand Ltd |
TMT Bars & Secondary Steel · Steel, Metals & Pipes | mukand.com | 1955 | India |
| Steel Strips Wheels Limited | TMT Bars & Secondary Steel · Steel, Metals & Pipes | — | — | Mohali, Chandigarh, India |
| Gallantt Ispat Limited | · Manufacturing (Metals and Chemicals, and products thereof) | — | — | Gorakhpur, Uttar Pradesh, India |
 Pennar Industries Limited |
TMT Bars & Secondary Steel · Steel, Metals & Pipes | pennarindia.com | 1977 | Hyderabad, Telangana, India |
| Vardhman Special Steels Limited | TMT Bars & Secondary Steel · Steel, Metals & Pipes | — | — | Ludhiana, Punjab, India |
| Steel Exchange India Limited | · Community, personal and Social Services | — | — | Hyderabad, Telangana, India |
| TMT Bars & Secondary Steel · Manufacturing (Metals and Chemicals, and products thereof) | kamdhenulimited.com | — | Gurgaon, Haryana, India | |
 agni steels |
TMT Bars & Secondary Steel · Steel, Metals & Pipes | agnisteels.com | 1989 | Erode, India |
| Shiv Aum Steels Limited | · Manufacturing (Metals and Chemicals, and products thereof) | — | — | Mumbai, Maharashtra, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.