Sarthak Metals Limited
NSE: SMLT · Iron & Steel Products · sector
₹75.90NSE close 2026-10-26
Key numbers
Market cap₹104 cr
Price₹75.90
52w high / low₹121 / ₹57
P/E21.2xSector median 15.5x
P/B0.8xSector median 1.7x
Book value₹90.8
Dividend yield0.66%Sector median 0.60%
ROE4.0%Sector median 11.1%
ROCE5.9%Sector median 11.9%
OPM3.9%Sector median 6.7%
Debt / equity0.05xSector median 0.21x
EV/EBITDA14.1xSector median 11.8x
Interest cover12.2x
Current ratio9.21x
Sales growth 3y-22.2%Sector median +2.1%
Profit growth 3y-46.3%Sector median +13.0%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 118 companies in Iron & Steel Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹0 cr vs borrowings ₹7 cr (FY26): borrowings are higher by ₹6 cr.
- Operating profit covered interest 12.2x in the last 12 months.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY25, FY22).
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 56% of net profit in the last 12 months.
- Debtor days went from 48 (FY24) to 108 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹75.90 on 2026-10-26: -37.3% from the 52-week high, +34.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹198.40 · low ₹59.98
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 46 | 44 | 48 | 46 | 36 | 48 | 62 | 55 |
| EBITDA | 2 | 2 | 1 | 2 | 2 | 2 | 3 | 2 |
| OPM % | 4.2% | 4.7% | 2.8% | 3.8% | 4.5% | 4.4% | 4.0% | 2.8% |
| Other income | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 1 |
| Net profit | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| EPS (₹) | 0.61 | 0.92 | 0.49 | 0.77 | 0.57 | 0.95 | 1.09 | 0.97 |
| Revenue YoY | -20.6% | +8.5% | +28.9% | +19.5% | ||||
| Profit YoY | -8.4% | +6.6% | +122.4% | +25.5% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 457 | 408 | 305 | 178 | 192 | 201 |
| EBITDA | 41 | 39 | 20 | 7 | 8 | 8 |
| Net profit | 27 | 30 | 14 | 4 | 5 | 5 |
| EPS (₹) | 20.03 | 21.74 | 10.10 | 3.01 | 3.37 | 3.58 |
| Revenue growth | -10.7% | -25.3% | -41.5% | +7.8% | +9.3% | |
| Profit growth | +8.3% | -53.5% | -70.2% | +11.9% | +29.2% | |
| Dividend / share (₹) | 1.00 | 2.00 | 2.00 | – | 0.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -22.2% | – | +9.4% |
| Net profit | -46.3% | – | +29.2% |
| EPS | -46.3% | – | – |
| Share price | – | -35.2% (2y) | -22.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 105 | 116 | 120 | 124 |
| Borrowings | – | 0 | 0 | 0 | 7 |
| Cash & equivalents | – | 15 | 35 | 29 | 0 |
| Total assets | – | 110 | 120 | 124 | 137 |
| Fixed assets | – | 11 | 15 | 19 | 17 |
| Capital work in progress | – | 2 | 0 | 0 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 53 | 40 | 42 | 57 |
| Inventory | – | 15 | 20 | 27 | 39 |
| Payables | – | 1 | 0 | 1 | 2 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 16 | 35 | 27 | -0 | -33 |
| Cash from investing | 3 | -2 | -3 | -6 | -2 |
| Cash from financing | -15 | -26 | -3 | -0 | 6 |
| Capex | 2 | 3 | 5 | 7 | 1 |
| Free cash flow | 15 | 32 | 22 | -7 | -33 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 28.3% | 11.9% | 3.4% | 3.7% |
| ROCE % | – | 39.6% | 17.0% | 5.8% | 5.4% |
| Debtor days | – | 47 | 48 | 87 | 108 |
| Inventory days | – | 16 | 28 | 68 | 94 |
| Payable days | – | 1 | 0 | 2 | 4 |
| Cash conversion cycle (days) | – | 62 | 76 | 153 | 198 |
| Working capital days | – | 82 | 122 | 208 | 173 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 68.81% |
| FIIs | 0.14% |
| Public (non-institutions) | 31.05% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 68.85% | 68.85% | 68.85% | 68.81% | 68.81% | 68.81% | 68.81% | 68.81% |
| Promoter group | % |
|---|---|
| Manoj Kumar Bansal | 27.63% |
| Anoop Kumar Bansal | 8.37% |
| Sanjay Chamanlal Shah | 7.96% |
| Kishore Kumar Bansal | 5.41% |
| Deshraj Bansal HUF | 3.94% |
| Metal Grace Injection Alloys Private Limited | 3.54% |
| Shalini Sanjay Shah | 2.94% |
| Chamanlal Khushalji Shah HUF | 2.89% |
| Sanju Bansal | 1.73% |
| Manoj Kumar Bansal HUF | 1.56% |
| Anoop Kumar Bansal HUF . | 1.05% |
| Siddharth Sanjay Shah | 0.84% |
| Sagar Sanjay Shah | 0.84% |
| Simmi Bansal | 0.10% |
| Kirti Bansal | 0.01% |
| Public holders above 1% | % |
|---|---|
| Mayur Bhatt | 3.32% |
10,956 shareholders. Pledged: – of promoter shares.
Peers in Iron & Steel Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| WELCORP | ₹61,798 cr | 26.7x | 6.8x | 27.8% | 19.2% | 13.9% | +19.8% | 0.21% |
| APLAPOLLO | ₹57,703 cr | 46.9x | 10.9x | 25.9% | 30.1% | 8.0% | +12.6% | 0.28% |
| SHYAMMETL | ₹31,351 cr | 28.0x | 2.7x | 7.8% | 14.2% | 12.9% | +13.7% | 0.36% |
| RATNAMANI | ₹16,345 cr | 37.8x | 4.0x | 11.2% | 15.7% | 16.7% | +0.1% | 0.60% |
| JINDALSAW | ₹14,824 cr | 26.9x | 1.2x | 4.4% | 7.2% | 9.5% | +0.1% | 0.86% |
| USHAMART | ₹14,192 cr | 27.9x | 4.3x | 16.8% | 20.1% | 19.6% | +4.1% | 0.64% |
| GALLANTT | ₹12,989 cr | 31.9x | 3.7x | 12.4% | 14.2% | 13.8% | +3.1% | 0.08% |
| GPIL | ₹11,769 cr | 14.6x | 2.0x | 15.1% | 18.7% | 21.4% | -2.2% | 0.54% |
| JAYNECOIND | ₹8,607 cr | 12.5x | 2.6x | 23.4% | 25.6% | 18.9% | +4.0% | – |
| SMLT | ₹104 cr | 21.2x | 0.8x | 4.0% | 5.9% | 3.9% | -22.2% | 0.66% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-07-11 | Dividend | Dividend - Re 0.50 Per Share |
| 2024-08-12 | Other | Annual General Meeting |
| 2023-12-22 | Dividend | Interim Dividend - Re 1 Per Share |
| 2023-08-09 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2022-12-30 | Dividend | Interim Dividend - Re 1 Per Share |
| 2022-08-25 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2022-01-12 | Dividend | Interim Dividend - Re 1 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Iron & Steel Products |
| Sub-industry | Iron & Steel Products |
| Symbol | SMLT |
| BSE code | 540393 |
| ISIN | INE017W01010 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.