Key Metrics of agni steels
About agni steels
Sectors
Company details
- Website
- agnisteels.com
- Founded
- 1989
- Registered office
- No. 39/1, Perundurai Road,builders Association Building, 1st Floor, Erode, Erode, Tamil Nadu, India,, Erode, In-tn, 638011
Operational Areas of agni steels
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.
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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
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 31 Jul 2026 | ICRA | Reaffirmed | A- | A2+ | Stable | ₹339 Cr | View |
Credit strengths (ICRA, Jul 2026)
+ Steady earnings; strong brand presence enables ASPL to enjoy premium pricing
In FY2026, ASPL’s revenue increased to Rs. 1,117.2 crore from Rs. 1,077.1 crore in FY2025, primarily driven by a ~6% growth in TMT bar sales volumes, despite a marginal moderation in average realisations in line with the broader market trends.
Credit challenges
− High geographical concentration risk
In FY2026, ASPL derived ~82% of its revenues from Tamil Nadu, where the AGNI TMT brand enjoys a strong market presence.
− Intense competition in highly fragmented and commoditised steel market; margins susceptible to volatility in raw material price
ASPL operates in the long steel products industry, which is characterised by intense competition due to low product differentiation and relatively low entry barriers, restricting the pricing flexibility of players such as ASPL.
− Exposure to cyclicality inherent in steel industry
The domestic steel industry is cyclical in nature, resulting in volatile cash flows for steel players, including ASPL.
− Sizeable payouts to promoters impact return indicators
ICRA notes that ASPL’s payouts to promoters have remained elevated in the past and continued to be so through FY2026.
Could lead to an upgrade
ICRA may upgrade the ratings if ASPL ’s earnings improve significantly, leading to strengthening of the credit metrics.
Could lead to a downgrade
Pressure on ASPL’s ratings could arise if debt -funded capex and investments in group companies are materially higher than envisaged, resulting in a weakening of the leverage and debt coverage metrics on a sustained basis. A sustained decline in earnings could also exert pr essure on the ratings. A specific credit metric for downgrade would be a total debt/OPBIDTA of more than 2.3 times on a sustained basis.
Agency-reported financials (ICRA, 31 Jul 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹1,077 Cr | ₹1,117 Cr |
| PAT | ₹31.60 Cr | ₹44.70 Cr |
| OPBDIT/OI | 6.7% | 7.3% |
| PAT/OI | 2.9% | 4.0% |
| Total outside liabilities/Tangible net worth (times) | 1.10× | 0.90× |
| Total debt/OPBDIT (times) | 2.80× | 2.10× |
| Interest coverage (times) | 4.20× | 6.20× |
| Revenue growth (YoY) | — | 3.7% |
| EBITDA (margin × income) | ₹72.17 Cr | ₹81.56 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹202 Cr | ₹171 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹17.18 Cr | ₹13.15 Cr |
Borrowings & rated debt
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Term loans changed to | Term loans | ₹80.3 Cr | ₹55.2 Cr | −31.3% | A- (Stable) | Reaffirmed | ICRA |
| Working capital facilities changed to | Working capital & bank lines | ₹200 Cr | ₹200 Cr | 0.0% | A- (Stable) | Reaffirmed | ICRA |
| Letter of credit | Non-fund based limits | ₹10.0 Cr | ₹10.0 Cr | 0.0% | A2+ | Reaffirmed | ICRA |
| Unallocated limits changed to | Other | ₹49.1 Cr | ₹74.2 Cr | 51.2% | A- (Stable) | Reaffirmed | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | Term loans March FY | Term loans | — | — | 31 Mar 2031 | ₹55.2 Cr | A- | Outstanding |
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) | 58% |
| Information on file | 56% · missing: Annual results history (3+ years), 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: 58% chance the next rating action is stable or better
- Current rating A- (investment grade)
- Interest coverage 6.2×
- Working-capital limits 70% utilised on average
- ₹74.16 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
The average utilisation of the working capital limits against the drawing power is at 70% for the 15 month ended June 2026.
From the report
ASPL has scheduled debt repayment obligations of ~Rs. 19.5 crore in FY2027 and ~Rs. 23.1 core in FY2028 which are expected to be adequately met through the cash flow from operations.
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 agni steels
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 |
| Aarti 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 | |
| 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
Steel Manufacturers Association
Filings
No filings on record yet.