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Shri Bajrang Alliance Ltd

SHBAJRG
BSE
173.65
0.57%
Last Updated:
30 Apr '26, 4:00 PM
Company Overview
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Shri Bajrang Alliance Ltd

SHBAJRG
BSE
173.65
0.57%
30 Apr '26, 4:00 PM
Company Overview
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6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
156Cr
Close
Close Price
173.65
Industry
Industry
Steel - Rolling
PE
Price To Earnings
4.32
PS
Price To Sales
0.51
Revenue
Revenue
304Cr
Rev Gr TTM
Revenue Growth TTM
-44.14%
PAT Gr TTM
PAT Growth TTM
-67.30%
Peer Comparison
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
361151681242271308010780898747
Growth YoY
Revenue Growth YoY%
578.8193.45.0169.0-37.3-13.617.7-13.7-64.5-31.59.0-56.2
Expenses
ExpensesCr
359146681262241307910679878449
Operating Profit
Operating ProfitCr
350-22111223-2
OPM
OPM%
0.73.10.0-1.80.90.51.30.81.92.83.6-5.3
Other Income
Other IncomeCr
100041002000
Interest Expense
Interest ExpenseCr
000000001000
Depreciation
DepreciationCr
111111111111
PBT
PBTCr
34-1-35000222-4
Tax
TaxCr
010-11000101-1
PAT
PATCr
33-1-24000112-2
Growth YoY
PAT Growth YoY%
108.4-21.2-1,320.0-388.437.7-90.4172.1114.8-72.9342.3275.0-829.0
NPM
NPM%
0.81.8-0.9-1.71.70.20.60.31.31.31.9-4.8
EPS
EPS
15.413.48.28.216.37.78.37.612.69.511.26.9

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
716875101157175214171524570398304
Growth
Revenue Growth%
-33.6-4.79.934.856.111.222.4-20.1206.88.8-30.1-23.6
Expenses
ExpensesCr
67677096152171205162513565394299
Operating Profit
Operating ProfitCr
5145539911545
OPM
OPM%
6.40.95.74.53.11.94.25.22.00.81.01.5
Other Income
Other IncomeCr
210000031433
Interest Expense
Interest ExpenseCr
323232432112
Depreciation
DepreciationCr
100110233333
PBT
PBTCr
2-11211377532
Tax
TaxCr
000000131210
PAT
PATCr
2-11111246322
Growth
PAT Growth%
55.5-166.2170.033.522.3-53.5226.173.948.8-44.6-35.1-23.2
NPM
NPM%
2.7-1.91.21.20.90.41.02.21.10.60.50.5
EPS
EPS
2.1-1.42.710.121.715.534.280.138.045.436.240.2

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
999999999999
Reserves
ReservesCr
3635687894108144216250292327346
Current Liabilities
Current LiabilitiesCr
3730253131915131100111114106
Non Current Liabilities
Non Current LiabilitiesCr
24232060721201841925
Total Liabilities
Total LiabilitiesCr
10696122123135215226277377416469486
Current Assets
Current AssetsCr
5846444154896848106114122116
Non Current Assets
Non Current AssetsCr
4849788280126158229271302347370
Total Assets
Total AssetsCr
10696122123135215226277377416469486

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
62213-88221-30-24
Investing Cash Flow
Investing Cash FlowCr
-110-1-1-30-7-5-5-7-15
Financing Cash Flow
Financing Cash FlowCr
-5-3-2-1210235-167837
Net Cash Flow
Net Cash FlowCr
0000000001-1
Free Cash Flow
Free Cash FlowCr
62112-10-23-5196-14-28
CFO To PAT
CFO To PAT%
334.2-170.5177.01,070.4-587.11,126.580.2553.8-44.98.2-1,165.4
CFO To EBITDA
CFO To EBITDA%
140.0356.837.0279.6-172.0227.619.5235.6-23.85.7-573.2

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
172816161416129228141237121
Price To Earnings
Price To Earnings
9.10.016.51.80.71.14.23.24.15.83.7
Price To Sales
Price To Sales
0.20.40.20.20.10.10.61.30.30.40.3
Price To Book
Price To Book
0.40.70.30.20.10.10.91.00.60.80.4
EV To EBITDA
EV To EBITDA
15.8122.612.79.16.918.820.830.118.365.152.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
14.57.514.114.510.111.017.729.320.312.717.6
OPM
OPM%
6.40.95.74.53.11.94.25.22.00.81.0
NPM
NPM%
2.7-1.91.21.20.90.41.02.21.10.60.5
ROCE
ROCE%
5.80.83.43.43.41.93.43.63.01.60.9
ROE
ROE%
4.2-2.91.11.41.40.61.41.72.21.00.6
ROA
ROA%
1.8-1.30.71.01.10.31.01.41.50.80.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Core Business Segments** #### **1. Agro & Food Division (GOELD Frozen Foods)** - **Brand & Product Portfolio**: GOELD offers a wide range of pure vegetarian frozen foods, including Indian breads (e.g., Malabar Paratha, Lachha Paratha), snacks (Punjabi Samosa, Spring Rolls), curries (Dal Makhni, Paneer Butter Masala), pre-cut vegetables (Green Peas, Sweet Corn, French Fries), desserts, and newly launched products such as **Pizza Pockets**, **Paneer Pakora**, **Idli**, **Herb Chilli Burger Patty**, and **chilled parathas**. Recent launches emphasize nutrition, convenience, and authenticity. - **Innovation & R&D**: Supported by a dedicated culinary lab and technology-driven product development, GOELD has also developed vegan-friendly, preservative-free, and health-focused offerings, including healthy parathas and supercritical fluid extraction (SCFE)-based nutraceuticals and essential oils nearing commercialization. - **Manufacturing & Infrastructure**: Operates a **BRC-accredited, state-of-the-art 5-acre manufacturing facility in Raipur**, equipped with advanced freezing, packaging, and cold chain infrastructure. The plant enables consistent quality, scalability, and compliance with global food safety standards. - **Cold Chain & Distribution**: Maintains a **robust cold chain network** minimizing wastage and ensuring product integrity. GOELD supports over 500 retail outlets with freezer placements and leverages a professional sales team of 65+ for field outreach. - **Expansion Strategy**: - **Modern Trade & Quick Commerce**: Available on leading platforms including **Swiggy Instamart, Zepto, BigBasket, Blinkit** (expanded to Raipur, Durg, Bhilai, and other Tier-II cities). - **E-commerce & D2C**: Expanding digital reach via Jio Mart, D-Mart Ready, and direct channels. - **B2B (HoReCa)**: Strong presence in hotels, restaurants, cloud kitchens, and catering services, including a landmark **supply tie-up with KFC (Yum Brands)**. - **Super Stockist Model**: Expanded to North, West India, and Chennai, enhancing B2B and e-commerce reach. - **International Markets**: - Active exports to **UK, USA, Australia, UAE, Netherlands, New Zealand, and Southeast Asia**. - **GOELD launched in the UK** (May 2025) with plans for **EU, Middle East, Japan, and North America**. - Participation in major global exhibitions including **Gulfood Dubai, SIAL Mumbai, IFE London, Anuga India, FAIC, and AAHAR** has secured export orders and strengthened distributor relationships. - Export milestones: 72 containers (May 2024), 84 containers (Aug 2024), and **99 containers (Q4 FY24–25)**. - **Recent Strategic Moves**: - **Acquisition of Potful Biryani** (May 2025) added **27 food service outlets** in Bangalore, Chennai, and Hyderabad, significantly boosting its presence in the QSR and food service sector. - New distribution network launched in **Western Uttar Pradesh** and expanded availability on **Blinkit** across central India. - Strategic rollout of GOELD products in **27+ food service outlets** across South India. #### **2. Steel Division** - Produces **high-quality structural steel**, angles, and beams used in **railway infrastructure and transmission line towers**. - Key clients include **Indian Railways** and ongoing engagements with **Suzlon Energy Ltd.** and **Sterlite Power Transmission Ltd.** for upcoming orders in FY25–26. - Growth driven by **on-time delivery, product quality**, and strong performance in institutional supply contracts. #### **3. Ethanol & Chemicals (via Associate: Shri Bajrang Chemical Distillery LLP)** - Plans to **expand ethanol plant capacity by 120 KLPD (60% increase)** from 200 KLPD to enhance production scale and profitability. - Focus on operational efficiency and market expansion for industrial and biofuel applications. --- ### **Strategic Highlights (Recent Period: Nov 2025)** #### **Pricing & Market Penetration** - Launched **premium 400g French fries at ₹245 (₹45/100g)** — strategically priced to position frozen foods as **affordable staples** rather than premium indulgences. - Enabled by **economies of scale, disciplined procurement, and operational efficiency**, supporting long-term **household penetration and volume growth**. #### **Brand Visibility & Trade Participation** - Active participation in **SIAL Mumbai 2025**, showcasing products to distributors, retailers, and exporters. - Ongoing engagement at global events (**Gulfood, AAHAR, IFE London**) reflects aggressive brand-building and international outreach. - Focus on **targeted marketing**, partnerships, and exhibition presence to enhance **brand recall and equity**. #### **Target Consumers** - Core focus on **health-conscious, vegetarian, and urban busy consumers**. - Growing relevance among **Indian diaspora markets** and alignment with **plant-based, vegan, and time-saving food trends**. --- ### **Financial & Operational Scale (as of Nov 2023)** - **Domestic Revenue (Agro Division)**: ₹5,724 Crore (₹57,237.97 Lakh) reported under standalone financials — underscoring substantial scale in the frozen food segment. - **Retail Presence**: - Over **3,000 physical retail outlets** across India. - Available on **10+ online platforms**, with distribution in **35+ cities** and expansion to 100+ cities targeted by 2022–23. - **Production Capacity**: 6,600 MT/year (expandable), with quarterly production exceeding **300,000 kg** and **26% QoQ growth** in premium lines. --- ### **Leadership & Vision** - Led by **Archit Goel**, Whole-Time Director and CFO of SBAL, who has driven the company’s transformation beyond traditional steel into high-growth FMCG and food sectors. - Part of the **prominent GOEL Group**, with diversified interests in mining, power, steel, education, and media in Central India. - Vision: To **modernize India’s food ecosystem**, shape consumer habits through innovation, and become a **global leader in vegetarian frozen foods**.