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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Kalyani Steels's Net-Net Working Capital for the quarter that ended in Mar. 2026 was ₹102.34.
The industry rank for Kalyani Steels's Net-Net Working Capital or its related term are showing as below:
NSE:KSL's Price-to-Net-Net-Working-Capital is ranked worse than 61.24% of 178
companies
in the Steel industry
Industry Median: 4.585
vs NSE:KSL: 8.25
Kalyani Steels (NSE:KSL) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Kalyani Steels Net-Net Working Capital Related Terms
Kalyani Steels Net-Net Working Capital Historical Data
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The historical data trend for Kalyani Steels's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:KSL vs NUE, STLD, RS: Net-Net Working Capital Comparison
For the Steel subindustry, Kalyani Steels's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kalyani Steels Price-to-Net-Net-Working-Capital vs Steel Industry
For the Steel industry and Basic Materials sector, Kalyani Steels's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Kalyani Steels's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of ₹102.34 mean?
Kalyani Steels (NSE:KSL) has a Net-Net Working Capital of ₹102.34 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Kalyani Steels According to the industry distribution chart, Kalyani Steels ranks #109 out of 178 companies in the Steel industry, placing it in the top 61.2%.
Is Kalyani Steels' Net-Net Working Capital too high?
Kalyani Steels' current Net-Net Working Capital is ₹102.34. Based on the distribution chart, Kalyani Steels ranks #109 out of 178 companies in the Steel industry, which is below the industry midpoint. Overall, Kalyani Steels has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kalyani Steels' Net-Net Working Capital compare to NUE and STLD?
According to the Steel industry distribution chart, Kalyani Steels ranks #109 out of 178 companies for Net-Net Working Capital. This places Kalyani Steels in the lower half of its industry. The industry median Net-Net Working Capital is 4.59. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Steel company?
The median Net-Net Working Capital among Steel companies is 4.59, based on 178 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Kalyani Steels For the Steel industry, the median Net-Net Working Capital is 4.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kalyani Steels's current Net-Net Working Capital is ₹102.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kalyani Steels stock overvalued right now?
Based on GuruFocus' analysis, Kalyani Steels (NSE:KSL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹732.36, compared to a current price of ₹843.70 — trading 15.2% above its estimated fair value. The current Net-Net Working Capital is ₹102.34. Kalyani Steels' overall GF Score™ is 80/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Kalyani Steels (NSE:KSL), the current Net-Net Working Capital is ₹102.34 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kalyani Steels (NSE:KSL) Overvalued in 2026?
Based on GuruFocus' analysis, Kalyani Steels stock appears to be overvalued.
The current stock price of ₹843.70 is trading 15.2% above its estimated GF Value™ of ₹732.36.
GuruFocus considers Kalyani Steels to be Modestly Overvalued.
Key valuation signals for NSE:KSL:
Net-Net Working Capital: ₹102.34
GF Value™: ₹732.36 vs. price of ₹843.70 (15.2% above fair value)
No single metric tells the full story. See the NSE:KSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kalyani Steels Ltd manufactures forging and engineering quality carbon and alloy steel. Its product portfolio consists of carbon steel, carbon-manganese steel, chrome steel, chrome-manganese steel, chrome-nickel steel, chrome-moly steel, low carbon chrome-nickel-moly steel, medium carbon cr-ni-mo steel and bearing steel. The company's products are used in automotive forging, construction equipment, bearings, seamless tubes, and aluminum smelting. The majority of the revenue is generated by the sale of Rolled Products, As Cast Blooms and Pig Iron. These operating segment have been aggregated into one reportable business segment which is Forging and Engineering quality carbon and alloy steels.
80GF Score
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