A One Steels India Annual Reports, Balance Sheet and Financials

A-One Steels India Limited Standalone Balance Sheet (Rs in Crores)

 A-One Steels India Limited Standalone Profit & Loss Statement (Rs in Crores)

A-One Steels India Limited Standalone Cash Flow Statement (Rs in Crores)

Summary of Cash Flow Statement for the years 2026 and 2025:

Cash Flow from Operating Activities

The net cash flow from operating activities declined sharply from ₹168.87 crore in FY 2024-25 to ₹32.22 crore in FY 2025-26, despite profit before tax increasing to ₹147.35 crore from ₹65.64 crore. The improvement in profitability was supported by higher depreciation and finance cost adjustments, resulting in an operating profit of ₹262.67 crore before working capital changes. However, the company experienced substantial cash outflows due to a significant increase in trade receivables (₹264.08 crore) and inventories (₹89.54 crore), indicating higher funds locked in working capital. Although trade payables increased by ₹180.71 crore, providing temporary financing support, it could not offset the adverse impact of receivables and inventory growth. After paying ₹25.06 crore in income taxes, operating cash generation remained weak, highlighting lower cash conversion despite improved accounting profits.

Cash Flow from Investing Activities

The company reported a net cash inflow of ₹1.49 crore from investing activities in FY 2025-26 compared with a substantial cash outflow of ₹180.54 crore in the previous year. The improvement was mainly driven by a significant reduction in capital expenditure, which declined from ₹113.49 crore to ₹26.32 crore, indicating the completion of major expansion projects or a more cautious investment approach. Additionally, the redemption of fixed deposits amounting to ₹54.39 crore generated considerable cash inflows. However, the company continued investing in fixed deposits, subsidiaries, and other investments, reflecting its long-term growth strategy. Overall, the positive investing cash flow demonstrates effective capital allocation and improved liquidity management while maintaining selective investments for future expansion.

Cash Flow from Financing Activities

Financing activities resulted in a net cash outflow of ₹30.05 crore during FY 2025-26, compared with a net inflow of ₹10.98 crore in the previous year. The company raised ₹193.00 crore through fresh borrowings but repaid ₹149.90 crore of existing debt, reflecting a balanced approach towards debt management. Unlike the previous year, no equity capital was raised, whereas FY 2024-25 included ₹246.58 crore from the issue of equity shares. The company also incurred finance costs of ₹61.73 crore and lease-related payments of ₹11.42 crore, which further reduced cash flows. The overall financing outflow indicates the company 's focus on servicing debt obligations and maintaining a prudent capital structure while reducing dependence on equity financing.

Net change in Cash and Cash Equivalents

Despite weak operating cash generation and negative financing cash flows, the company recorded a net increase of ₹3.65 crore in cash and cash equivalents during FY 2025-26, compared with a decline of ₹0.68 crore in the previous year. Consequently, cash and cash equivalents increased from ₹6.99 crore at the beginning of the year to ₹10.64 crore at year-end. The improvement was primarily supported by positive cash flows from investing activities, particularly the redemption of fixed deposits and lower capital expenditure. While the higher closing cash balance strengthens the company 's short-term liquidity position, sustaining future cash reserves will largely depend on improving operating cash flows through better working capital management, especially faster collection of receivables and efficient inventory control.

Financial ratios of A-One Steels India Limited

Summary of Financial Ratios for the year 2026 and 2025:

Current Ratio

The Current Ratio improved from 1.24 to 1.33 times, indicating a stronger short-term liquidity position. The company is better equipped to meet its current obligations through its current assets.

Debt-Equity Ratio

The Debt-Equity Ratio declined from 1.08 to 0.98 times, reflecting reduced financial leverage. This indicates a healthier capital structure with lower dependence on borrowed funds.

Debt Service Coverage Ratio

The DSCR increased from 1.80 to 2.23 times, showing an improved ability to meet interest and principal repayment obligations. This reflects stronger debt servicing capacity.

Return on Equity

ROE improved from 9% to 16%, indicating that the company generated higher returns for its shareholders. The increase reflects improved profitability and efficient utilisation of equity capital.

Return on Capital Employed

ROCE increased from 11.70% to 15.49%, demonstrating better utilisation of long-term capital. The improvement indicates enhanced operational efficiency and profitability.

Net Profit Ratio

The Net Profit Ratio rose from 1.56% to 3.27%, showing a significant improvement in profitability. The company earned a higher profit from each rupee of revenue.

Inventory Turnover Ratio

The Inventory Turnover Ratio decreased from 4.70 to 4.17 times, indicating slower inventory movement. This suggests higher inventory holding and relatively lower inventory management efficiency.

Trade Receivables Turnover Ratio

The Trade Receivables Turnover Ratio declined from 6.19 to 5.98 times, indicating slower collection of receivables. This reflects an increase in the credit period extended to customers.

Trade Payables Turnover Ratio

The Trade Payables Turnover Ratio decreased from 5.11 to 3.79 times, indicating that the company took longer to pay its suppliers. This helped conserve cash and improve short-term liquidity.

Net Capital Turnover Ratio

The Net Capital Turnover Ratio declined from 16.88 to 10.59 times, indicating lower efficiency in generating sales from working capital. The decrease reflects increased investment in inventories and receivables.