Shah Metacorp Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Shah Metacorp Ltd trades at ₹5.8, in a confirmed uptrend and 28 weeks into that stage. That is +26.2% against its own 200-day average. It sits at 100% of a 52-week range of ₹3 to ₹6. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.

Today the stock is in a confirmed uptrend — week 28 of stage 2, confirmed. At ₹5.8 it trades +26.2% versus its 200-day average and sits at 100% of its 52-week range (₹3–₹6).

Against the market, two honest reads. Cumulative: over the last 10.0 years the stock moved +62% while the NIFTY 500 moved +240% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Shah Metacorp Ltd trades at 66.4× P/E, about the priciest it has ever traded. Its long-run median P/E is 28.6×, measured across 2.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 66.4× is about the priciest it has ever traded, against a long-run median of 28.6× measured over 2.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved +450.0% against a +87.7% price move — earnings outran the price, pushing the multiple DOWN its own range.

Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

At its price on 13 June 2026, Shah Metacorp Ltd was priced for profit growth of about 34.6% a year. The market pays that at 66.4× P/E, the 100th percentile of its own 2-year range.

What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is the whole of what a buyer is backing. Both readings sit on the same earnings, so they are one reading rather than two.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Shah Metacorp Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +25.5% (single-quarter readings) while profit growth is falling at −76.0% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read is built from 9 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Shah Metacorp Ltd reported ₹50.0 Cr of revenue in the Dec 25 quarter, +25.5% year on year. That is the 2nd straight quarter of year-on-year growth. Over 10 years it has compounded at −0.3% a year. The last full year, FY25, came in at ₹176 Cr. The last four reported quarters add to ₹187 Cr.

FY25 revenue came in at ₹176 Cr (+81.4% on the year), capping 10 years at −0.3% compound. The latest quarter (Dec 25) printed ₹50.0 Cr, +25.5% year on year — the 2nd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +3.8% growth against the decade's −0.3% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +3.4% over the last 4 quarters against +62.2%/yr over the last 8 — rolling over.

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Shah Metacorp Ltd's operating margin is 2.2% in the Dec 25 quarter, −3.6 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −651.0% to 8.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 2.2%, −3.6 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −651.0%–8.0%.

🚨 Why the margin moved: operating margin went −3.6 pp year on year while gross margin went +2.1 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Shah Metacorp Ltd earned ₹0.7 Cr of net profit in the Dec 25 quarter, −76.0% year on year. Full-year FY25 profit was ₹33.0 Cr. That is 1.4% of the quarter's revenue. The same quarter a year earlier earned ₹3.0 Cr. 1 of the last 12 reported quarters were loss-making.

Dec 25 profit was ₹0.7 Cr, −76.0% year on year. On the full year, FY25 printed ₹33.0 Cr (+725.0%).

🚨 Why profit moved: revenue contributed +25.5% and the margin −3.6 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −18.9% vs revenue +3.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −203% of Shah Metacorp Ltd's reported profit arrived as operating cash — a gap worth watching. In FY25 that was ₹−47.0 Cr of operating cash against ₹33.0 Cr of profit. After ₹11.0 Cr of capital spending, ₹−58.0 Cr was left as free cash.

FY25: operating cash of ₹−47.0 Cr against reported profit of ₹33.0 Cr, leaving free cash of ₹−58.0 Cr after ₹11.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −203% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

🚨 Why conversion sits at −203%: the cash cycle tightened 244 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 1.6× depreciation over three years, so the next section's job is to check what that build-out is buying.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Shah Metacorp Ltd's cash conversion cycle runs 260 days in FY25, down from 504 days in FY20. Capital spending ran ₹18.0 Cr over the last 3 years. At FY25 sales of ₹176 Cr each day of that cycle holds about ₹0.5 Cr, so roughly ₹125 Cr sits inside the business at any moment.

FY25: debtors at 272 days, inventory at 19 days — roughly 0.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 260 days, tighter than FY20's 504.

The full loop: cash goes out to suppliers and production on day 0; stock waits 19 days to sell; customers pay about 272 days after that; and suppliers themselves are paid at 31 days — netting out to the 260-day cycle.

In money terms: at FY25 sales of ₹176 Cr, each day of the cycle holds about ₹0.5 Cr — so the 260-day loop keeps roughly ₹125 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹18.0 Cr over the last 3 fiscal years against ₹11.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY25) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Shah Metacorp Ltd earns a ROCE of 8% in FY25. That is up from a trough of −121% in FY21. Return on invested capital clears the cost of that capital by −12.4 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 18.8% net margin on 0.89× asset turns.

FY25 ROCE is 8%, recovered from a FY21 trough of −121% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY25): 18.8% net margin × 0.89× asset turns × 1.20× balance-sheet leverage ≈ 20.1% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: −0.4% − 12.0% = a −12.4 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Shah Metacorp Ltd carries ₹18.0 Cr of borrowings against ₹165 Cr of equity in FY25, a debt-to-equity of 0.11. Over 5 years borrowings went from ₹76.0 Cr to ₹18.0 Cr. Capital spending ran ₹18.0 Cr across the last 3 of those years.

FY25: borrowings of ₹18.0 Cr against equity of ₹165 Cr — a debt-to-equity of 0.11. Over 5 years borrowings went from ₹76.0 Cr to ₹18.0 Cr while capital spending ran ₹18.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Promoters cut 7.1 points of Shah Metacorp Ltd over 8 quarters, the biggest move on the register. That takes promoters to 29.1% of the company. Foreign institutions moved +0.0 points over the same window, to 0.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −7.1 points over 8 quarters to 29.1%; Foreign institutions: +0.0 points over 8 quarters to 0.0%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

🚨 Why the register moved: promoters drove it (−7.1 points) — distribution into the market’s bid.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Shah Metacorp Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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