MarketFriction

Shervani Industrial Syndicate Ltd

NSE SHERVANI · BSE 526117 · Residential, Commercial Projects
₹335.00 +3.08%
NSE close2026-09-30
52 week range300.05 - 374.00
Market cap₹82.9 Cr.
P/E319
Price band 20% Delivery 33.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales30.4813.0725.6810.5419.7311.716.428.853.356.611.494.60
Expenses23.4110.8725.6010.4818.1910.997.078.824.416.033.944.82
Operating Profit7.072.200.080.061.540.72-0.650.03-1.060.58-2.45-0.22
OPM %23.20%16.83%0.31%0.57%7.81%6.15%-10.12%0.34%-31.64%8.77%-164.43%-4.78%
Other Income0.363.090.550.590.510.413.550.841.120.994.002.35
Interest0.020.030.090.080.100.090.090.080.070.090.080.09
Depreciation0.220.240.280.410.370.370.360.370.310.330.290.33
Profit before tax7.195.020.260.161.580.672.450.42-0.321.151.181.71
Tax %0.00%0.00%1,111.54%0.00%26.58%22.39%17.96%19.05%-15.62%97.39%170.34%22.22%
Net Profit7.195.02-2.630.161.160.522.010.34-0.270.03-0.831.33
EPS in Rs26.6218.59-9.740.624.512.027.811.32-1.050.12-3.235.17
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales31.7246.0891.1678.5292.3331.868.8426.69142.7048.3821.3516.05
Expenses29.5435.1857.9235.4167.3427.4011.7123.05112.8046.4223.0319.20
Operating Profit2.1810.9033.2443.1124.994.46-2.873.6429.901.96-1.68-3.15
OPM %6.87%23.65%36.46%54.90%27.07%14.00%-32.47%13.64%20.95%4.05%-7.87%-19.63%
Other Income0.645.491.730.241.231.261.0721.914.97-8.645.738.46
Interest0.510.200.090.200.310.400.270.190.150.360.320.33
Depreciation0.430.420.480.640.710.740.890.930.981.511.301.26
Profit before tax1.8815.7734.4042.5125.204.58-2.9624.4333.74-8.552.433.72
Tax %6.91%-0.63%26.77%19.88%20.91%-45.63%-6.42%3.27%8.57%11.81%130.04%
Net Profit1.7515.8725.1934.0619.936.66-2.7723.6330.85-9.56-0.730.26
EPS in Rs5.3748.6880.84109.3173.7924.66-10.2687.49114.22-37.16-2.841.01
Dividend Payout %0.00%0.00%105.28%0.00%3.39%10.14%-19.49%2.86%16.66%-8.06%-88.01%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-4%-8%-7%-66%
Compounded Profit Growth%%%-94%
Stock Price CAGR10%6%-8%-13%
Return on Equity10%6%6%-1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital3.263.263.263.123.122.702.702.702.702.572.572.57
Reserves184.95186.57193.63170.56149.83130.42130.19126.49142.09150.79135.07130.18
Borrowings10.687.921.006.827.205.925.0611.701.5731.5451.3872.10
Other Liabilities10.057.6812.1450.2170.9131.0947.4478.71117.6948.9555.64139.17
Total Liabilities208.94205.43210.03230.71231.06170.13185.39219.60264.05233.85244.66344.02
Fixed Assets13.7413.2212.3814.4115.9515.3718.1519.8118.6523.1216.4014.51
CWIP0.000.000.000.000.801.430.000.000.001.849.1520.80
Investments8.988.4413.3115.3114.846.115.589.3828.3035.7718.8619.34
Other Assets186.22183.77184.34200.99199.47147.22161.66190.41217.10173.12200.25289.37
Total Assets208.94205.43210.03230.71231.06170.13185.39219.60264.05233.85244.66344.02
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-2.042.2115.7726.1625.41-12.795.091.176.78-8.5314.3644.66
Cash from Investing Activity2.751.17-4.89-26.197.3325.73-1.68-5.30-0.10-10.31-25.50-28.69
Cash from Financing Activity4.05-3.27-7.110.89-31.05-22.29-1.945.71-10.8922.129.5815.91
Net Cash Flow4.760.113.770.861.68-9.351.471.58-4.203.28-1.5631.88
Free Cash Flow-2.322.0415.5523.5722.34-13.653.36-1.376.56-15.186.4431.75
CFO/OP108%94%147%111%70%-33%92%-86%219%-0%793%-2,544%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days20.33135.67189.001.6813.392.5321.6582.9940.624.769.208.72
Inventory Days4,260.582,671.681,820.562,221.471,014.98
Days Payable5.068.586.7919.7324.69
Cash Conversion Cycle20.334,391.192,852.101,815.4513.392,204.2721.6582.9940.62995.059.208.72
Working Capital Days14,320.201,729.381,161.77386.14380.94386.661,082.863,440.661,125.63229.10705.251,370.76
ROCE %-0.90%1.65%6.13%18.24%26.36%17.05%3.86%-1.94%17.11%19.12%1.58%1.40%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters60.07%62.11%60.22%62.07%62.07%62.07%62.08%62.08%62.07%62.07%62.07%62.07%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%
Public39.93%37.90%39.78%37.92%37.92%37.93%37.92%37.93%37.92%37.92%37.92%37.91%
No. of Shareholders2,3162,3602,9162,5402,4562,4572,3552,2552,2292,1742,1282,130

Fundamentals

Market Cap₹ 82.9 Cr.
Current Price₹ 322
Stock P/E319
Book Value₹ 516
ROCE1.40 %
ROE-0.54 %
Dividend Yield0.78 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-66%
Compounded Profit Growth (TTM)-94%
Consolidated figures.
Valuation
Market capRs 86 Cr
Enterprise valueRs 94 Cr
P/E (TTM)331.52x
Price to book0.65x
Price to sales5.37x
EV / EBITDA17.71x
EV / EBIT23.23x
EV / sales5.86x
Price to cash flow1.93x
Earnings yield0.30%
Dividend yield0.74%
P/E, 3-year average4.38x
P/B, 3-year average0.71x
P/E, 5-year average4.22x
P/B, 5-year average0.65x
Profitability
Operating margin (excl. other income)-7.87%
Operating margin (incl. other income)18.97%
EBITDA margin33.08%
Pre-tax margin23.18%
Net profit margin1.62%
Net margin, latest quarter28.91%
ROE-0.54%
ROCE1.40%
ROA-0.25%
ROE, 3-year average4.53%
ROCE, 3-year average5.83%
ROA, 3-year average2.72%
ROE, 5-year average5.74%
ROCE, 5-year average6.54%
ROA, 5-year average3.31%
ROIC (approx.)-0.87%
Tax rate130.04%
Other income / net worth4.32%
Growth
Sales growth (latest year)-55.87%
Sales CAGR, 3 years-7.17%
Sales CAGR, 5 years-7.69%
Sales growth QoQ208.72%
Sales growth YoY (latest quarter)-48.02%
Profit growth YoY (latest quarter)291.18%
Per share
EPS (TTM)Rs 1.01
EPS (latest year)Rs -2.84
EPS (latest quarter)Rs 5.17
EPS, 3-year averageRs 26.64
EPS, 5-year averageRs 31.43
Book value per shareRs 515.94
Sales per shareRs 62.38
Cash flow per shareRs 173.57
Free cash flow per shareRs 123.40
Dividend per share (latest year)Rs 2.49
Dividend per share, 3-year averageRs 8.49
Dividend per share, 5-year averageRs 5.99
Dividends
Dividend payout, 3-year average16.66%
Dividend payout, 5-year average9.77%
Efficiency
Asset turnover0.06x
Fixed asset turnover1.47x
Inventory turnover0.08x
Inventory days4357 days
Debtor days9 days
Debtors turnover41.86x
Creditor days25 days
Cash conversion cycle9 days
Working capital days1371 days
Leverage
Total debtRs 72 Cr
Cash and bankRs 64 Cr
Net debtRs 8 Cr
Debt to equity0.54x
Net debt / EBITDA1.48x
Interest coverage12.27x
Owners' fund to total sources38.59%
Debt to assets20.96%
Cash flow
Cash from Operating Activity (latest year)Rs 45 Cr
Cash from Investing Activity (latest year)Rs -29 Cr
Cash from Financing Activity (latest year)Rs 16 Cr
Net Cash Flow (latest year)Rs 32 Cr
Free cash flow (latest year)Rs 32 Cr
FCFE (approx.: FCF + change in debt)Rs 52 Cr
Cash from ops / profit, 5 years1.41x
Sales to cash flow0.48x
Statement figures
Net sales (TTM)Rs 16 Cr
Net sales (latest year)Rs 21 Cr
Sales (latest quarter)Rs 5 Cr
Operating profit excl. other income (latest year)Rs -2 Cr
Operating profit (latest quarter)Rs -0 Cr
Other income (TTM)Rs 8 Cr
EBITDA (TTM)Rs 5 Cr
PBDT (TTM)Rs 5 Cr
Profit before tax (TTM)Rs 4 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 0 Cr
Net profit (latest year)Rs -1 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 15 Cr
Total expenditure (latest year)Rs 23 Cr
Total income (latest year)Rs 27 Cr
Share capitalRs 3 Cr
ReservesRs 130 Cr
Shareholders' fundsRs 133 Cr
Total assetsRs 344 Cr
Net blockRs 15 Cr
Capital work in progressRs 21 Cr
InvestmentsRs 19 Cr
ReceivablesRs 1 Cr
InventoryRs 175 Cr
Other liabilitiesRs 139 Cr
Shares outstanding (crore)0.26
Ownership
Promoter holding62.07% (-0.01 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 331.5 is at the 99th percentile of its own 7.8-year range (median 5.8, low 1.6, high 331.5).
P/B 0.65 is at the 39th percentile (median 0.70).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodSHERVANINifty 50Difference
1 week+4.7%-2.8% +7.4 pts
1 month+4.2%-6.8% +11.0 pts
3 years-24.5%+14.2% -38.7 pts
5 years+17.5%+27.9% -10.3 pts

Red flags

F-score 5 of 8
lookInventory outrunning sales Inventory grew 21% vs sales -56% in 2026
lookProfit leans on other income Other income was 236% of pre-tax profit in 2026
lookRepeated losses Net loss in each of the last two years
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹5 Cr -48.0% vs Jun 2025. Net profit ₹1 Cr +291.2%.
Against our estimate for Jun 2026: sales -13.4%, profit +758.6% in line. Our estimate for Sep 2026: sales Rs 2 Cr, profit Rs 0 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-18Dividend - Rs 2.50 Per Share
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Less than 100 unique PAN traded in previous 30 days

Quick answers

What is the market cap of Shervani Industrial Syndicate Ltd?

Shervani Industrial Syndicate Ltd (SHERVANI) has a market capitalisation of Rs 82.9 Cr. at the 2026-09-30 close.

What is the P/E ratio of Shervani Industrial Syndicate Ltd?

Shervani Industrial Syndicate Ltd trades at a P/E of 319 on trailing twelve-month profit, at the 2026-09-30 close.

What were Shervani Industrial Syndicate Ltd's latest quarterly results?

In the Jun 2026 quarter, Shervani Industrial Syndicate Ltd sales was Rs 5 Cr (-48.0% vs Jun 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Shervani Industrial Syndicate Ltd?

The 52-week high is Rs 374.00 and the 52-week low is Rs 300.05.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03