1. At a Glance – The Plot Thickens
Small cap. Big drama.
La Tim Metal & Industries Ltd is sitting at a market cap of ₹139 crore, trading at ₹10.6, with a 3-month return of -11.5% and a 6-month bounce of 36.2%.
Latest quarterly numbers?
- Sales: ₹85.92 crore (up 79% YoY)
- PAT: ₹1.89 crore (up 191% YoY)
- ROCE: 3%
- ROE: -1.44%
- Debt: ₹46.2 crore
- Price to Book: 1.88x
- EV/EBITDA: 19x
Steel trading, real estate land bank of 1000+ acres, hospitality projects, new roofing verticals, and preferential warrants flying around like wedding invitations.
Is this a metals trader?
Is this a land aggregator?
Is this a family office with a BSE listing?
Grab your chai. We’re going in.
2. Introduction – Steel Sheets & Sheet Drama
Incorporated in 1974, La Tim Metal & Industries Ltd began life as a steel trading and manufacturing company. Colour-coated steel sheets. Galvanized coils. Roofing materials. The kind of stuff that quietly holds up warehouses while no one notices.
But over time, the company added spice.
Now it also does:
- Real estate land trading
- Resorts and hospitality
- Pre-fab homes
- Community farming
- Designer steel panels
- And is exploring exports to Europe
This isn’t diversification. This is entrepreneurial buffet.
In FY23, 97% of revenue came from sale of goods, and only 3% from land. But the land bank? 1000+ acres at Khopoli Pali Road between Mumbai and Pune. That’s not small.
Then came:
- Merger with La Tim Sourcing (India) Pvt Ltd
- Acquisition of 100% of Latim Lifestyle & Resorts
- Preferential allotments
- 3.5 crore warrants
- Development agreements
At this point, the steel business feels like the responsible elder sibling paying bills while real estate dreams big.
But what does the data say?
Let’s go to the numbers.
3. Business Model – WTF Do They Even Do?
Let me simplify.
1️ Steel Manufacturing & Trading (97% revenue engine)
They import
