About Modi Steel
Modi Steel is a publicly listed company based in Delhi (India) founded in 2003. Steel flats, rounds, and squares are manufactured for engineering applications. Its Indian entity National General Industries Limited reported revenue of ₹10.95 Cr. Modi Steel offers products and services including Steel Flats and Steel Rounds. Its focus areas include Chemicals and Materials, Metals and Alloys and Steel.
Company details
Modi Steel was founded in 2003 in Delhi, India, as a manufacturer of alloy, special, and non-ferrous steel products such as flats, rounds, and squares. These items are produced through steel rolling and re-rolling processes with an emphasis on quality control. The products are supplied to sectors including engineering, agriculture, automotive, and infrastructure. Operations are based in India, serving industrial needs.
- Headquarters Delhi, India
- Stage Public
- SectorsIndustrial Goods & Manufacturing
- Email••••••••
- Phone•••• ••••
- Website modisteel.com
- Legal Name National General Industries Ltd.
- Market Cap₹26.45 Cr
NATGENI · BSE
- Share Price₹59.00
0.00% today
- Revenue₹8.95 Cr
FY 2025-26 · -13.5% YoY
- EBITDA−₹2.00 Cr
Margin -22.4%
- Net Profit−₹0.48 Cr
FY 2025-26 · -157.8% YoY
- P/E (TTM)118.1x
P/B 0.7x
- ROE-1.7%
ROCE -1.3%
- Debt / Equity0.02
Interest cover -3.0x
Associated legal entities of Modi Steel
Modi Steel operates through National General Industries Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| National General Industries Limited Listed CIN L74899DL1987PLC026617 | Active | 08 Jan 1987 | New Delhi, Delhi | ₹10.9 Cr | 5 | 8 | View details |
Products & Services of Modi Steel
Modi Steel offers a comprehensive portfolio of products and services, including Steel Flats and Steel Rounds.
Steel flats are manufactured and supplied for various industrial applications, including engineering and infrastructure.
Steel rounds are produced and provided for uses in agriculture, automotors, and other sectors, emphasizing durability.
Board of directors of National General Industries Limited (Modi Steel)
National General Industries Limited is the primary company behind Modi Steel. The board of National General Industries Limited currently have 6 directors; the longest-serving is Pawan Kumar Modi, appointed in 2000. 12 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pawan Kumar Modi DIN 00051679 | Managing Director | 04 Feb 2000 | 26 yrs 9 mo | National General Industries Limited |
| Vasu Modi DIN 00051696 | Director | 30 Sep 2000 | 26 yrs 1 mo | National General Industries Limited |
| Anirudh Vimalkumar Goenka DIN 00907733 | Director | 30 Mar 2019 | 7 yrs 7 mo | National General Industries Limited |
| Anantshri Gupta DIN 08126520 | Director | 30 Mar 2019 | 7 yrs 7 mo | National General Industries Limited |
| Manhar Modi DIN 00051746 | Director | 30 Jun 2021 | 5 yrs 4 mo | National General Industries Limited |
| Kanupriya Gupta DIN 09848901 | Director | 14 Feb 2023 | 3 yrs 9 mo | National General Industries Limited |
IPO & Listings of Modi Steel
Modi Steel is a publicly listed company on the BSE with ticker symbol NATGENI in India, operating in the Non-energy minerals sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date29 Aug 2012
- Listed onBSE: 531651
- Listed entityNational General Industries Ltd.
- Exchange sectorNon-energy minerals
- ISININE654H01011
- Share price₹56.90 (+3.45% on the day) · 2026-10-14
- Market capitalisation₹24.7 Cr
- Price to earnings65.3
- EPS (diluted, trailing year)₹0.87
- Volume (last session)2
Financials of Modi Steel
Exchange-reported figures of National General Industries Limited, the listed company behind Modi Steel (BSE: NATGENI).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 8.95 | 10.35 | 12.81 | 13.44 | 18.26 | 18.58 | 19.60 |
| Revenue growth | -13.5% | -19.2% | -4.7% | -26.4% | -1.7% | -5.2% | - |
| EBITDA | (2.00) | 0.04 | (0.45) | (0.45) | (0.41) | (0.68) | (0.54) |
| EBITDA margin | -22.4% | +0.4% | -3.5% | -3.4% | -2.3% | -3.7% | -2.8% |
| Profit before tax | (0.44) | 1.20 | 3.20 | 0.20 | 0.14 | 5.68 | (0.94) |
| Net profit | (0.48) | 0.83 | 1.04 | 0.12 | (0.38) | (0.87) | (1.05) |
| Net profit margin | -5.4% | +8.0% | +8.1% | +0.9% | -2.1% | -4.7% | -5.4% |
| EPS (₹) | (0.93) | 1.99 | 6.42 | 0.48 | 0.22 | 12.43 | (1.91) |
| Balance sheet | |||||||
| Total assets | 37.86 | 36.84 | 36.05 | 31.60 | 31.87 | 31.05 | 24.20 |
| Net worth | 36.66 | 36.28 | 34.54 | 29.90 | 29.45 | 28.74 | 22.33 |
| Total debt | 1.08 | 0.43 | 1.41 | 1.60 | 2.33 | 2.19 | 1.77 |
| Cash & bank | 0.11 | 0.06 | 0.06 | 0.03 | 0.15 | 0.28 | 0.03 |
| Net working capital | 1.46 | 1.96 | 2.10 | 3.67 | 3.99 | 3.96 | 3.50 |
| Cash flow | |||||||
| Cash from operations | (1.31) | (0.28) | 1.51 | 1.07 | 0.29 | (0.73) | 0.61 |
| Cash from investing | 0.76 | 1.29 | (1.15) | (0.34) | (0.42) | 0.71 | (0.14) |
| Cash from financing | 0.59 | (1.00) | (0.33) | (0.86) | 0.02 | 0.27 | (0.47) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.06 | 3.21 | 2.50 | 2.73 | 2.11 | 1.62 | 2.76 | 2.63 |
| Revenue growth (YoY) | -2.4% | +98.2% | -9.4% | +3.8% | -1.4% | -42.4% | - | - |
| Other income | 0.85 | 1.66 | 0.62 | 0.59 | 0.43 | 0.35 | 0.53 | 0.36 |
| Total expenses | 2.65 | 3.99 | 3.19 | 3.04 | 2.58 | 2.14 | 2.77 | 2.52 |
| EBITDA | (0.59) | (0.78) | (0.69) | (0.31) | (0.47) | (0.52) | (0.01) | 0.11 |
| EBITDA margin | -28.6% | -24.3% | -27.6% | -11.4% | -22.3% | -32.1% | -0.4% | +4.2% |
| Depreciation | 0.10 | 0.10 | 0.10 | 0.10 | 0.09 | 0.09 | 0.10 | 0.10 |
| Interest | 0.03 | 0.03 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 |
| Profit before tax | 0.13 | 0.75 | (0.19) | 0.16 | (0.14) | (0.27) | 0.40 | 0.35 |
| Tax | (0.06) | 0.03 | (0.02) | 0.02 | 0.07 | (0.02) | 0.09 | 0.14 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.06 | 3.21 | 2.50 | 2.73 | 2.11 | 1.62 | 2.76 | 2.63 |
| Revenue growth (YoY) | -2.4% | +98.2% | -9.4% | +3.8% | -1.4% | -42.4% | - | - |
| Other income | 0.85 | 1.66 | 0.62 | 0.59 | 0.43 | 0.35 | 0.53 | 0.36 |
| Total expenses | 2.65 | 3.99 | 3.19 | 3.04 | 2.58 | 2.14 | 2.77 | 2.52 |
| EBITDA | (0.59) | (0.78) | (0.69) | (0.31) | (0.47) | (0.52) | (0.01) | 0.11 |
| EBITDA margin | -28.6% | -24.3% | -27.6% | -11.4% | -22.3% | -32.1% | -0.4% | +4.2% |
| Depreciation | 0.10 | 0.10 | 0.10 | 0.10 | 0.09 | 0.09 | 0.10 | 0.10 |
| Interest | 0.03 | 0.03 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 |
| Profit before tax | 0.13 | 0.75 | (0.19) | 0.16 | (0.14) | (0.27) | 0.40 | 0.35 |
| Tax | (0.06) | 0.03 | (0.02) | 0.02 | 0.07 | (0.02) | 0.09 | 0.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 8.95 | 10.35 | 12.81 | 13.44 | 18.26 | 18.58 | 19.60 |
| Revenue growth | -13.5% | -19.2% | -4.7% | -26.4% | -1.7% | -5.2% | - |
| Other income | 2.00 | 1.63 | 4.12 | 1.11 | 1.10 | 6.93 | 0.36 |
| Total expenses | 10.95 | 10.31 | 13.26 | 13.89 | 18.67 | 19.26 | 20.14 |
| Employee cost | 0.00 | 2.02 | 1.84 | 1.67 | 1.53 | 1.12 | 1.52 |
| EBITDA | (2.00) | 0.04 | (0.45) | (0.45) | (0.41) | (0.68) | (0.54) |
| EBITDA margin | -22.4% | +0.4% | -3.5% | -3.4% | -2.3% | -3.7% | -2.8% |
| Depreciation | 0.38 | 0.39 | 0.33 | 0.32 | 0.41 | 0.42 | 0.50 |
| Interest | 0.06 | 0.08 | 0.14 | 0.14 | 0.14 | 0.15 | 0.26 |
| Profit before tax | (0.44) | 1.20 | 3.20 | 0.20 | 0.14 | 5.68 | (0.94) |
| Tax | 0.04 | 0.27 | 0.20 | 0.00 | 0.05 | (0.13) | (0.03) |
| Net profit | (0.48) | 0.83 | 1.04 | 0.12 | (0.38) | (0.87) | (1.05) |
| Net profit margin | -5.4% | +8.0% | +8.1% | +0.9% | -2.1% | -4.7% | -5.4% |
| EPS (₹) | (0.93) | 1.99 | 6.42 | 0.48 | 0.22 | 12.43 | (1.91) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 4.74 | 4.74 | 4.68 | 4.68 | 4.67 | 4.67 | 4.67 |
| Reserves & surplus | 31.92 | 31.54 | 29.86 | 25.22 | 24.78 | 24.07 | 17.66 |
| Shareholders' funds (net worth) | 36.66 | 36.28 | 34.54 | 29.90 | 29.45 | 28.74 | 22.33 |
| Secured loans | 0.83 | 0.09 | 1.00 | 1.50 | 2.17 | 2.19 | 1.77 |
| Unsecured loans | 0.25 | 0.34 | 0.41 | 0.10 | 0.16 | 0.00 | 0.00 |
| Total debt | 1.08 | 0.43 | 1.41 | 1.60 | 2.33 | 2.19 | 1.77 |
| Total liabilities | 37.86 | 36.84 | 36.05 | 31.60 | 31.87 | 31.05 | 24.20 |
| Assets | |||||||
| Gross block | 8.83 | 8.69 | 10.23 | 9.85 | 10.05 | 9.86 | 16.62 |
| Net block | 3.28 | 3.53 | 3.83 | 3.60 | 3.82 | 3.82 | 12.12 |
| Capital work in progress | 0.00 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 23.41 | 21.72 | 20.35 | 10.69 | 10.63 | 10.22 | 8.97 |
| Inventories | 1.10 | 0.86 | 0.92 | 1.60 | 2.63 | 2.71 | 2.39 |
| Sundry debtors | 0.57 | 1.16 | 1.25 | 1.29 | 0.88 | 1.27 | 1.72 |
| Cash & bank balances | 0.11 | 0.06 | 0.06 | 0.03 | 0.15 | 0.28 | 0.03 |
| Loans & advances | 0.52 | 1.07 | 0.64 | 1.61 | 1.38 | 1.17 | 0.74 |
| Total current assets | 2.30 | 3.15 | 2.87 | 4.53 | 5.04 | 5.43 | 4.88 |
| Total current liabilities | 0.84 | 1.19 | 0.77 | 0.86 | 1.05 | 1.47 | 1.38 |
| Net working capital | 1.46 | 1.96 | 2.10 | 3.67 | 3.99 | 3.96 | 3.50 |
| Total assets | 37.86 | 36.84 | 36.05 | 31.60 | 31.87 | 31.05 | 24.20 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.06 | 0.06 | 0.03 | 0.15 | 0.28 | 0.03 | 0.02 |
| Net cash from operating activities | (1.31) | (0.28) | 1.51 | 1.07 | 0.29 | (0.73) | 0.61 |
| Net cash from investing activities | 0.76 | 1.29 | (1.15) | (0.34) | (0.42) | 0.71 | (0.14) |
| Net cash from financing activities | 0.59 | (1.00) | (0.33) | (0.86) | 0.02 | 0.27 | (0.47) |
| Net change in cash | 0.05 | 0.00 | 0.03 | (0.13) | (0.11) | 0.25 | 0.01 |
| Closing cash | 0.11 | 0.06 | 0.06 | 0.03 | 0.15 | 0.28 | 0.03 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -13.5% | -19.2% | -4.7% | -26.4% | -1.7% | -5.2% | - |
| EBITDA growth | -5100.0% | +108.9% | 0.0% | -9.8% | +39.7% | -25.9% | - |
| PBT growth | - | -62.5% | +1500.0% | +42.9% | -97.5% | +9998.0% | - |
| Net income growth | -157.8% | -20.2% | +766.7% | +131.6% | +56.3% | +17.1% | - |
| Revenue CAGR (3Y) | -12.7% | -17.2% | -11.7% | -11.8% | +1.1% | +1.4% | +7.5% |
| EBITDA CAGR (3Y) | +64.1% | - | -12.9% | -5.9% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | -5.4% | +9.0% | +23.4% | +1.5% | +0.5% | +31.3% | -4.6% |
| Return on capital employed | -1.3% | +3.2% | +3.7% | +0.9% | -0.7% | -3.1% | -3.2% |
| Return on net worth | -1.7% | +2.2% | +3.2% | +0.5% | -1.3% | -3.5% | -4.5% |
| Debt / equity | 0.02 | 0.03 | 0.05 | 0.07 | 0.08 | 0.08 | 0.08 |
| Long-term debt / equity | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -2.95 | -22.86 | -17.95 | -18.18 | -17.07 | -13.64 | -25.00 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.03 | 1.10 | 1.29 | 1.36 | 1.85 | 1.42 | 1.17 |
| Inventory turnover | 9.13 | 11.63 | 10.17 | 6.35 | 6.84 | 7.29 | 6.64 |
| Debtors turnover | 10.35 | 8.59 | 10.09 | 12.39 | 16.99 | 12.43 | 12.41 |
| EPS (₹) | (1.01) | 1.99 | 6.42 | 0.48 | 0.22 | 12.43 | (1.91) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 77.14 | 76.33 | 73.67 | 63.74 | 62.86 | 61.33 | 47.57 |
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Frequently Asked Questions about Modi Steel
Modi Steel was founded in 2003.
Modi Steel is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
The primary company behind Modi Steel, National General Industries Limited, reported revenue of ₹10.95 Cr for FY 2026, down 14% year on year.
Modi Steel was founded in 2003 in Delhi, India, as a manufacturer of alloy, special, and non-ferrous steel products such as flats, rounds, and squares. These items are produced through steel rolling and re-rolling processes with an emphasis on quality control. The products are supplied to sectors including engineering, agriculture, automotive, and infrastructure. Operations are based in India, serving industrial needs.
Modi Steel offers Steel Flats and Steel Rounds.
Yes, Modi Steel is publicly traded on BSE under the ticker symbol NATGENI.
Modi Steel operates through National General Industries Limited.
The legal entities of Modi Steel currently have 7 directors, including Vandana Gupta, Pawan Kumar Modi, Anirudh Vimalkumar Goenka and others.