Company Overview

P S Raj Steels Limited is a prominent manufacturer and trader of stainless steel pipes and tubes in India, offering over 250 standard product sizes with customization options. The PSSR Group was established in 1996, and P S Raj Steels Limited (formerly P S Raj Steels Private Limited) was incorporated in 2004 with a vision to manufacture and provide high-quality Stainless Steel tubular solutions to the industry. The company operates as a key entity within the PSSR Group and has established itself as a trusted name in India's stainless steel pipes and tubes sector.

The company transformed from a private entity to a public limited company. Its status was converted to a Public Company, and the name was changed to `P S Raj Steels Limited` following a fresh Certificate of Incorporation issued by the Registrar of Companies, NCT of Delhi and Haryana on August 06, 2024. The shares were listed on the NSE SME platform on February 19, 2025.

Product Portfolio and Manufacturing Capabilities

P S Raj Steels specializes in manufacturing and trading a comprehensive range of stainless steel products. The company is a significant importer and exporter of Stainless Steel Pipes, Stainless Steel Tubes, Stainless Steel Sheets, Stainless Steel Coils, Stainless Steel Bars, Stainless Steel Angles, Stainless Steel Strips, and Stainless Steel Plates. Offering over 250 standard sizes, the company ranks among the leading manufacturers in terms of product variety. As of March 31, 2024, the company derived 29.81% of its revenues from Stainless Steel Coils and Strips, Sheets & Plates, and Bars.

The company operates from a robust manufacturing facility located in Hisar, Haryana. Spread across 5 acres, the plant is equipped with advanced machinery and equipment to meet large-scale client requirements. The manufacturing unit has an installed capacity of 13,460 metric tons per annum, situated on 3 acres in Hisar, Haryana.

Market Presence and Industry Applications

P S Raj Steels serves diverse industrial sectors across India and internationally. Its products are utilized in industries such as railways, furniture, households, door frames, rice plants, sugar mills, and food processing. The company also supplies SS pipes to heat exchangers and boiler manufacturers. It has a strong presence in both domestic and international markets, exporting products to Gulf countries, Asian countries, and Africa, and importing raw materials from Japan and China.

Quality Standards and Certifications

The PSSR Group is recognized as one of India's most trusted names in the Stainless Steel Pipes & Tubes Industry, holding ISO 9001:2015 certification. The company maintains stringent quality control measures and adheres to international standards in its manufacturing processes to ensure product reliability and customer satisfaction.

Financial Performance

Recent IPO and Market Capitalization

P S Raj Steels successfully completed its Initial Public Offering (IPO) in February 2025. The IPO bidding period was from February 12, 2025, to February 14, 2025, with the allotment finalized on February 17, 2025. The shares were listed on the NSE SME on February 19, 2025. The IPO price band was set at ₹140 per share, resulting in a Market Capitalization of approximately ₹116 Crore as of February 2025.

Revenue and Profitability Metrics

The company has demonstrated consistent growth in its financial performance. Key financial highlights include:

- FY 2024: Revenue reported at ₹297.76 crores, an increase from ₹225.44 crores in FY 2023. Profit stood at ₹6.36 crores in FY 2024, up from ₹3.65 crores in FY 2023.

- Six Months Ended September 30, 2024: Revenue from operations was ₹139.11 crores, with a net profit of ₹3.86 crores during the same period.

- FY 2025 Key Metrics (Investor Presentation): Projected revenue of ₹266 Cr, EBITDA of ₹12.32 Cr, PAT of ₹7.40 Cr, with a capacity of 13,000 MTPA.

Capital Structure and Shareholding

The company's authorized share capital is ₹80,000,000, and its paid-up capital is ₹55,183,140. Following the IPO in February 2025, promoter holding in P S Raj Steels Ltd decreased to 73.20% as of March 2025, from 100.00% prior to the listing.

Leadership and Management

P S Raj Steels is led by experienced promoters who bring extensive expertise to the stainless steel industry. The promoters, Mr. Raj Kumar Gupta, Mr. Deepak Kumar, Mr. Vishal Gupta, and Mr. Gaurav Gupta, are qualified professionals with a combined experience of over five decades in the Steel Pipes & Tubes industry. They have been instrumental in driving the company's growth since its inception. As of January 31, 2025, the company employed a total of 114 individuals.

Debt Position and Financial Health

P S Raj Steels maintains a strong financial position with minimal debt obligations, operating as an almost debt-free company. This conservative debt management approach provides the company with financial flexibility for future growth initiatives and operational needs.

The company's strategic focus on manufacturing excellence, product diversification, and market expansion positions it well within India's growing stainless steel industry. With its recent public listing and robust operational fundamentals, P S Raj Steels is poised to capitalize on the increasing demand for stainless steel products across various industrial applications in both domestic and international markets.