Price
Financials
Standalone, Rs crore| Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 78 | 87 | 155 | 110 | 53 | 66 | 86 | 106 | 105 | 109 | 120 |
| Expenses | 73 | 79 | 146 | 102 | 52 | 60 | 79 | 95 | 95 | 100 | 111 |
| Operating Profit | 5 | 8 | 9 | 9 | 2 | 6 | 7 | 10 | 10 | 8 | 9 |
| OPM % | 6% | 9% | 6% | 8% | 3.0% | 9% | 8% | 10% | 9% | 8% | 8% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 1 | 0 | 3 |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 3 | 3 | 3 | 4 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 4 | 6 | 7 | 7 | -1 | 2 | 5 | 6 | 6 | 3 | 6 |
| Tax % | 25% | 26% | 24% | 25% | -21% | 22% | 28% | 25% | 27% | 26% | 30% |
| Net Profit | 3 | 4 | 5 | 5 | -1 | 2 | 4 | 4 | 4 | 3 | 4 |
| EPS in Rs | 12.03 | 3.48 | 3.17 | 2.90 | -0.66 | 1.07 | 1.96 | 2.34 | 2.08 | 1.27 | 2.11 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 69 | 69 | 73 | 96 | 242 | 164 | 152 | 211 | 229 |
| Expenses | 64 | 63 | 67 | 89 | 225 | 153 | 139 | 191 | 211 |
| Operating Profit | 5 | 6 | 6 | 7 | 17 | 10 | 13 | 20 | 17 |
| OPM % | 7% | 8% | 8% | 7% | 7% | 6% | 8% | 10% | 8% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 3 |
| Interest | 1 | 1 | 1 | 1 | 2 | 3 | 5 | 6 | 7 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 3 | 3 |
| Profit before tax | 4 | 4 | 4 | 5 | 13 | 5 | 7 | 11 | 10 |
| Tax % | 27% | 29% | 26% | 25% | 25% | 27% | 26% | 26% | 28% |
| Net Profit | 3 | 3 | 3 | 4 | 10 | 4 | 5 | 8 | 7 |
| EPS in Rs | 13.80 | 13.30 | 11.52 | 14.48 | 5.73 | 2.24 | 2.97 | 4.18 | 3.37 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 15% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 19% | 12% | 9% | ||
| Compounded Profit Growth | % | 13% | 21% | -19% | ||
| Stock Price CAGR | % | % | -21% | -18% | ||
| Return on Equity | % | 11% | 9% | 7% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 3 | 3 | 17 | 17 | 18 | 20 | 20 |
| Reserves | 4 | 6 | 11 | 15 | 32 | 36 | 53 | 73 | 79 |
| Borrowings | 7 | 7 | 7 | 9 | 22 | 35 | 45 | 54 | 56 |
| Other Liabilities | 8 | 7 | 5 | 20 | 67 | 38 | 36 | 31 | 28 |
| Total Liabilities | 21 | 22 | 25 | 46 | 138 | 127 | 152 | 177 | 184 |
| Fixed Assets | 2 | 2 | 2 | 3 | 7 | 15 | 17 | 16 | 19 |
| CWIP | 0 | 0 | 3 | 3 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 6 | 18 |
| Other Assets | 19 | 20 | 19 | 40 | 132 | 106 | 129 | 154 | 146 |
| Total Assets | 21 | 22 | 25 | 46 | 138 | 127 | 152 | 177 | 184 |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2 | 2 | 3 | 2 | -8 | 2 | -12 | -12 | 25 |
| Cash from Investing Activity | -1 | -0 | -5 | -1 | -2 | -16 | -5 | -3 | -17 |
| Cash from Financing Activity | -1 | -1 | 1 | 1 | 34 | 10 | 17 | 16 | -5 |
| Net Cash Flow | 0 | 0 | 0 | 2 | 24 | -4 | -0 | 1 | 2 |
| Free Cash Flow | 1 | 2 | -1 | 1 | -10 | -9 | -17 | -15 | 18 |
| CFO/OP | 63% | 52% | 79% | 52% | -24% | 33% | -81% | -46% | 157% |
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 26 | 22 | 43 | 52 | 13 | 51 | 68 | 73 |
| Inventory Days | 53 | 112 | 93 | 69 | 110 | 178 | 186 | 128 | 98 |
| Days Payable | 38 | 43 | 19 | 85 | 87 | 90 | 103 | 65 | 53 |
| Cash Conversion Cycle | 58 | 95 | 95 | 26 | 76 | 101 | 133 | 132 | 117 |
| Working Capital Days | 22 | 35 | 40 | 40 | 27 | 67 | 110 | 98 | 98 |
| ROCE % | 38% | 28% | 27% | 32% | 11% | 12% | 14% | 11% |
| Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Nov 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 73.63% | 73.63% | 73.63% | 73.63% | 69.92% | 69.92% | 67.79% | 69.74% | 69.74% | 69.74% |
| DIIs | 0.00% | 0.00% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.06% | 1.01% | 0.94% | 0.94% | 0.94% |
| Public | 26.37% | 26.37% | 26.17% | 26.37% | 30.08% | 29.02% | 31.21% | 29.32% | 29.32% | 29.32% |
| No. of Shareholders | 546 | 516 | 505 | 621 | 772 | 789 | 833 | 827 | 841 | 782 |
Fundamentals
Market Cap₹ 119 Cr.
Current Price₹ 58.3
Stock P/E17.3
Book Value₹ 48.9
ROCE11.2 %
ROE7.14 %
Dividend Yield0.86 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)-19%
Standalone figures.
Valuation
Market capRs 127 Cr
Enterprise valueRs 159 Cr
P/E (TTM)14.99x
Price to book1.37x
Price to sales0.60x
EV / EBITDA7.50x
EV / EBIT8.92x
EV / sales0.76x
Earnings yield6.67%
Dividend yield0.32%
P/E, 3-year average26.23x
P/B, 3-year average2.03x
P/E, 5-year average24.89x
P/B, 5-year average2.56x
Profitability
Operating margin (excl. other income)9.51%
Operating margin (incl. other income)10.09%
EBITDA margin10.09%
Pre-tax margin5.43%
Net profit margin4.03%
ROE10.36%
ROCE13.63%
ROA5.17%
ROE, 3-year average8.83%
ROCE, 3-year average11.94%
ROA, 3-year average3.98%
ROE, 5-year average16.02%
ROCE, 5-year average18.95%
ROA, 5-year average6.62%
ROIC (approx.)10.62%
Tax rate25.70%
Other income / net worth1.31%
Growth
Sales growth (latest year)38.63%
Profit growth (latest year)57.81%
Sales CAGR, 3 years-4.53%
Sales CAGR, 5 years23.68%
Profit CAGR, 3 years-4.90%
Profit CAGR, 5 years23.80%
Per share
EPS (TTM)Rs 4.18
EPS (latest year)Rs 4.18
EPS, 3-year averageRs 3.13
EPS, 5-year averageRs 5.92
Book value per shareRs 45.69
Sales per shareRs 103.60
Cash flow per shareRs -6.09
Free cash flow per shareRs 8.86
Dividend per share (latest year)Rs 0.20
Dividend per share, 3-year averageRs 0.20
Dividend per share, 5-year averageRs 0.20
Dividends
Dividend payout4.83%
Dividend payout, 3-year average4.83%
Dividend payout, 5-year average4.83%
Efficiency
Asset turnover1.19x
Fixed asset turnover13.05x
Inventory turnover3.47x
Inventory days105 days
Debtor days68 days
Debtors turnover5.39x
Creditor days53 days
Cash conversion cycle117 days
Working capital days98 days
Leverage
Total debtRs 54 Cr
Cash and bankRs 21 Cr
Net debtRs 32 Cr
Debt to equity0.58x
Net debt / EBITDA1.51x
Interest coverage2.78x
Owners' fund to total sources52.50%
Debt to assets30.24%
Cash flow
Cash from Operating Activity (latest year)Rs -12 Cr
Cash from Investing Activity (latest year)Rs -3 Cr
Cash from Financing Activity (latest year)Rs 16 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs 18 Cr
FCFE (approx.: FCF + change in debt)Rs 27 Cr
Cash from ops / profit, 5 years-0.15x
Statement figures
Net sales (TTM)Rs 211 Cr
Net sales (latest year)Rs 211 Cr
Operating profit excl. other income (latest year)Rs 20 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 21 Cr
PBDT (TTM)Rs 15 Cr
Profit before tax (TTM)Rs 11 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 8 Cr
Net profit (latest year)Rs 8 Cr
Depreciation (TTM)Rs 3 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 171 Cr
Total expenditure (latest year)Rs 191 Cr
Total income (latest year)Rs 212 Cr
Share capitalRs 20 Cr
ReservesRs 73 Cr
Shareholders' fundsRs 93 Cr
Total assetsRs 177 Cr
Net blockRs 16 Cr
InvestmentsRs 6 Cr
ReceivablesRs 39 Cr
InventoryRs 49 Cr
Other liabilitiesRs 31 Cr
Shares outstanding (crore)2.03
Ownership
Promoter holding69.74% (-0.18 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 15.0 is the lowest in its own 4.6-year history
(median 31.3, low 15.0, high 84.1).
P/B 1.37 is at the 4th percentile (median 4.26).
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.
| Period | SHIGAN | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -3.7% | -2.8% | -0.9 pts |
| 1 month | -11.8% | -6.8% | -5.0 pts |
| 3 months | -9.3% | -7.6% | -1.7 pts |
| 6 months | -9.3% | +0.4% | -9.7 pts |
| 1 year | -25.8% | -9.9% | -15.9 pts |
| 2 years | -40.4% | -13.6% | -26.9 pts |
| 3 years | -47.7% | +14.2% | -61.9 pts |
Red flags
F-score 4 of 8| explain | Weak cash conversion Cash from operations was -128% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 12% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 86% vs sales +39% in 2026 |
| look | Share dilution Share count up 12% in a year, 18% in three |
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
Mar 2026Sales ₹120 Cr +39.5% vs Mar 2024.
Net profit ₹4 Cr +0.0%.
Against our estimate for Mar 2026: sales +1.6%, profit -10.7% in line.
Activity
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No bulk or block deals on record.
No corporate actions on record.
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 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded
Quick answers
What is the market cap of Shigan Quantum Technologies Ltd?
Shigan Quantum Technologies Ltd (SHIGAN) has a market capitalisation of Rs 119 Cr. at the 2026-09-30 close.
What is the P/E ratio of Shigan Quantum Technologies Ltd?
Shigan Quantum Technologies Ltd trades at a P/E of 17.3 on trailing twelve-month profit, at the 2026-09-30 close.
What were Shigan Quantum Technologies Ltd's latest quarterly results?
In the Mar 2026 quarter, Shigan Quantum Technologies Ltd sales was Rs 120 Cr (+39.5% vs Mar 2024) and net profit was Rs 4 Cr.
What is the 52-week high and low of Shigan Quantum Technologies Ltd?
The 52-week high is Rs 88.00 and the 52-week low is Rs 41.20.