Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 499 | 386 | 680 | 746 | 550 | 332 | 771 | 846 | 555 | 539 | 898 | 958 |
| Expenses | 459 | 364 | 608 | 665 | 505 | 313 | 681 | 741 | 513 | 498 | 807 | 857 |
| Operating Profit | 39 | 22 | 71 | 81 | 45 | 18 | 90 | 105 | 42 | 41 | 90 | 100 |
| OPM % | 8% | 6% | 10% | 11% | 8% | 6% | 12% | 12% | 8% | 8% | 10% | 10% |
| Other Income | 0 | 1 | 2 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 1 |
| Interest | 7 | 8 | 11 | 8 | 6 | 7 | 9 | 5 | 3 | 6 | 7 | 3 |
| Depreciation | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 13 | 13 | 13 | 13 |
| Profit before tax | 21 | 3 | 50 | 62 | 29 | 1 | 71 | 90 | 28 | 24 | 73 | 85 |
| Tax % | 0% | 6% | -4% | 25% | 24% | 29% | 26% | 25% | 26% | 25% | 25% | 25% |
| Net Profit | 21 | 3 | 52 | 46 | 22 | 1 | 53 | 67 | 21 | 18 | 54 | 64 |
| EPS in Rs | 14.57 | 1.85 | 36.15 | 32.06 | 15.06 | 0.37 | 36.59 | 46.27 | 14.55 | 12.12 | 37.45 | 43.96 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,166 | 1,356 | 1,135 | 1,409 | 1,154 | 591 | 924 | 1,822 | 2,196 | 2,399 | 2,838 | 2,950 |
| Expenses | 1,079 | 1,246 | 1,090 | 1,335 | 1,142 | 660 | 965 | 1,740 | 2,017 | 2,164 | 2,560 | 2,676 |
| Operating Profit | 87 | 110 | 45 | 74 | 12 | -69 | -41 | 82 | 179 | 235 | 278 | 273 |
| OPM % | 7% | 8% | 4.0% | 5% | 1.0% | -12% | -4.5% | 4.5% | 8% | 10% | 10% | 9% |
| Other Income | 6 | 4 | 3 | 4 | 5 | 5 | 6 | 3 | 5 | 6 | 8 | 7 |
| Interest | 5 | 6 | 11 | 16 | 15 | 23 | 22 | 25 | 30 | 30 | 21 | 18 |
| Depreciation | 20 | 24 | 28 | 38 | 41 | 46 | 44 | 42 | 48 | 48 | 52 | 53 |
| Profit before tax | 68 | 84 | 9 | 24 | -38 | -133 | -100 | 17 | 106 | 162 | 214 | 210 |
| Tax % | 25% | 25% | 10% | 20% | -45% | 0% | -1% | -15% | -1% | 25% | 25% | |
| Net Profit | 51 | 63 | 8 | 20 | -21 | -133 | -100 | 20 | 108 | 122 | 160 | 156 |
| EPS in Rs | 35.35 | 43.54 | 5.87 | 13.52 | -14.55 | -92.24 | -68.94 | 13.71 | 74.55 | 84.08 | 110.39 | 108.08 |
| Dividend Payout % | 23% | 18% | 26% | 22% | 0% | 0% | 0% | 0% | 21% | 21% | 21% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 9% | 37% | 16% | 18% | ||
| Compounded Profit Growth | 12% | 26% | 100% | 10% | ||
| Stock Price CAGR | 18% | 62% | 78% | 113% | ||
| Return on Equity | 7% | 22% | 38% | 35% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| Reserves | 288 | 326 | 389 | 384 | 399 | 370 | 241 | 147 | 163 | 271 | 368 | 505 |
| Borrowings | 22 | 55 | 41 | 212 | 246 | 185 | 261 | 298 | 265 | 421 | 327 | 289 |
| Other Liabilities | 350 | 332 | 341 | 377 | 435 | 289 | 279 | 357 | 494 | 506 | 590 | 588 |
| Total Liabilities | 675 | 727 | 785 | 987 | 1,095 | 859 | 796 | 816 | 937 | 1,213 | 1,299 | 1,397 |
| Fixed Assets | 138 | 171 | 215 | 365 | 380 | 426 | 389 | 349 | 356 | 340 | 321 | 337 |
| CWIP | 27 | 40 | 78 | 35 | 27 | 3 | 5 | 16 | 11 | 11 | 59 | 47 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 511 | 515 | 492 | 587 | 688 | 429 | 403 | 450 | 569 | 861 | 919 | 1,013 |
| Total Assets | 675 | 727 | 785 | 987 | 1,095 | 859 | 796 | 816 | 937 | 1,213 | 1,299 | 1,397 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 69 | -12 | 121 | -33 | 55 | 150 | -47 | -19 | 90 | -50 | 177 | 156 |
| Cash from Investing Activity | -103 | -13 | -89 | -98 | -58 | -47 | -28 | -7 | -42 | -46 | -61 | -66 |
| Cash from Financing Activity | 11 | 17 | -34 | 146 | 10 | -97 | 60 | 17 | -55 | 127 | -148 | -89 |
| Net Cash Flow | -23 | -8 | -2 | 15 | 8 | 6 | -15 | -8 | -7 | 31 | -32 | 1 |
| Free Cash Flow | 34 | -79 | 1 | -132 | -6 | 102 | -66 | -38 | 49 | -87 | 116 | 86 |
| CFO/OP | 109% | 9% | 132% | -60% | 80% | 1,259% | 67% | 71% | 103% | -27% | 76% | 75% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 34 | 32 | 31 | 38 | 38 | 12 | 24 | 31 | 15 | 28 | 40 | 35 |
| Inventory Days | 129 | 146 | 107 | 158 | 146 | 109 | 202 | 143 | 105 | 125 | 116 | 111 |
| Days Payable | 90 | 74 | 70 | 92 | 94 | 67 | 142 | 118 | 73 | 71 | 74 | 68 |
| Cash Conversion Cycle | 73 | 104 | 69 | 104 | 91 | 54 | 84 | 56 | 48 | 81 | 82 | 78 |
| Working Capital Days | 29 | 41 | 44 | 41 | 28 | 8 | -69 | -74 | -31 | -7 | 17 | 23 |
| ROCE % | 19% | 20% | 22% | 4% | 6% | -4% | -20% | -16% | 9% | 24% | 27% | 31% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 43.96% | 43.96% | 43.96% | 43.96% | 43.96% | 43.96% | 43.96% | 43.96% | 58.97% | 58.97% | 58.97% | 58.97% |
| FIIs | 15.28% | 15.43% | 15.81% | 15.32% | 15.35% | 15.32% | 15.24% | 15.73% | 1.80% | 0.61% | 0.77% | 1.24% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.07% | 0.05% | 0.00% | 0.04% | 0.29% | 0.63% | 0.64% | 1.56% | 2.43% |
| Public | 40.76% | 40.59% | 40.22% | 40.65% | 40.63% | 40.72% | 40.76% | 40.02% | 38.60% | 39.78% | 38.71% | 37.35% |
| No. of Shareholders | 24,883 | 25,023 | 25,447 | 27,367 | 29,465 | 29,445 | 29,915 | 28,716 | 37,373 | 36,718 | 39,068 | 41,457 |
Fundamentals
Market Cap₹ 9,574 Cr.
Current Price₹ 6,616
Stock P/E61.2
Book Value₹ 359
ROCE30.9 %
ROE35.4 %
Dividend Yield0.36 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)18%
Compounded Profit Growth (TTM)10%
Standalone figures.
Valuation
Market capRs 9,046 Cr
Enterprise valueRs 9,315 Cr
P/E (TTM)57.84x
Price to book17.42x
Price to sales3.07x
EV / EBITDA33.16x
EV / EBIT40.84x
EV / sales3.16x
Price to cash flow57.92x
Earnings yield1.73%
Dividend yield0.38%
P/E, 3-year average26.17x
P/B, 3-year average8.71x
P/E, 5-year average33.18x
P/B, 5-year average7.33x
Profitability
Operating margin (excl. other income)9.81%
Operating margin (incl. other income)10.10%
EBITDA margin9.52%
Pre-tax margin7.11%
Net profit margin5.30%
Net margin, latest quarter6.64%
ROE35.42%
ROCE30.92%
ROA11.85%
ROE, 3-year average39.46%
ROCE, 3-year average27.29%
ROA, 3-year average10.53%
ROE, 5-year average16.45%
ROCE, 5-year average15.02%
ROA, 5-year average4.29%
ROIC (approx.)21.62%
Tax rate25.33%
Other income / net worth1.60%
Growth
Sales growth (latest year)18.30%
Profit growth (latest year)31.30%
Sales CAGR, 3 years15.93%
Sales CAGR, 5 years36.86%
Profit CAGR, 3 years100.43%
Sales growth QoQ6.67%
Profit growth QoQ17.38%
Sales growth YoY (latest quarter)13.20%
Profit growth YoY (latest quarter)-4.99%
Per share
EPS (TTM)Rs 108.08
EPS (latest year)Rs 110.39
EPS (latest quarter)Rs 43.96
EPS, 3-year averageRs 89.65
EPS, 5-year averageRs 42.75
Book value per shareRs 358.87
Sales per shareRs 2,038.17
Cash flow per shareRs 107.93
Free cash flow per shareRs 59.43
Dividend per share (latest year)Rs 23.51
Dividend per share, 3-year averageRs 19.17
Dividend per share, 5-year averageRs 19.17
Dividends
Dividend payout21.30%
Dividend payout, 3-year average21.40%
Dividend payout, 5-year average21.40%
Efficiency
Asset turnover2.03x
Fixed asset turnover8.42x
Inventory turnover3.32x
Inventory days110 days
Debtor days35 days
Debtors turnover10.50x
Creditor days68 days
Cash conversion cycle78 days
Working capital days23 days
Leverage
Total debtRs 289 Cr
Cash and bankRs 21 Cr
Net debtRs 268 Cr
Debt to equity0.56x
Net debt / EBITDA0.96x
Interest coverage12.40x
Current ratio (filing 2026-03-31)1.25x
Quick ratio (filing 2026-03-31)0.42x
Trade payables (filing 2026-03-31)Rs 406 Cr
Owners' fund to total sources37.18%
Debt to assets20.70%
Cash flow
Cash from Operating Activity (latest year)Rs 156 Cr
Cash from Investing Activity (latest year)Rs -66 Cr
Cash from Financing Activity (latest year)Rs -89 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs 86 Cr
FCFE (approx.: FCF + change in debt)Rs 48 Cr
Cash from ops / profit, 5 years1.14x
Sales to cash flow18.17x
Statement figures
Net sales (TTM)Rs 2,950 Cr
Net sales (latest year)Rs 2,838 Cr
Sales (latest quarter)Rs 958 Cr
Operating profit excl. other income (latest year)Rs 278 Cr
Operating profit (latest quarter)Rs 100 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs 281 Cr
PBDT (TTM)Rs 263 Cr
Profit before tax (TTM)Rs 210 Cr
Tax (latest year)Rs 54 Cr
Net profit (TTM)Rs 156 Cr
Net profit (latest year)Rs 160 Cr
Net profit (latest quarter)Rs 64 Cr
Depreciation (TTM)Rs 53 Cr
Depreciation (latest quarter)Rs 13 Cr
Interest (TTM)Rs 18 Cr
Cost of goods sold (latest year)Rs 2,197 Cr
Total expenditure (latest year)Rs 2,560 Cr
Total income (latest year)Rs 2,846 Cr
Share capitalRs 14 Cr
ReservesRs 505 Cr
Shareholders' fundsRs 519 Cr
Total assetsRs 1,397 Cr
Net blockRs 337 Cr
Capital work in progressRs 47 Cr
ReceivablesRs 270 Cr
InventoryRs 661 Cr
Other liabilitiesRs 588 Cr
Shares outstanding (crore)1.45
Ownership
Promoter holding58.97% (+15.01 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 57.8 is at the 66th percentile of its own 6.4-year range
(median 39.3, low 12.6, high 165.7).
P/B 17.42 is at the 96th percentile (median 3.92).
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 | SMLMAH | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -5.3% | -2.8% | -2.6 pts |
| 1 month | +15.5% | -6.8% | +22.3 pts |
| 3 months | +57.9% | -7.6% | +65.6 pts |
| 6 months | +65.3% | +0.4% | +64.9 pts |
| 1 year | +90.4% | -9.9% | +100.4 pts |
| 2 years | +229.1% | -13.6% | +242.6 pts |
| 3 years | +429.7% | +14.2% | +415.6 pts |
| 5 years | +956.3% | +27.9% | +928.4 pts |
17 mutual fund schemes hold about ₹135 Cr.
Over three months 9 bought more and 7 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| LIC MF ELSS Tax Saver Fund | 2.96% | 30 | +14% |
| LIC MF Multi Asset Allocation Fund | 2.31% | 23 | -4% |
| LIC MF Manufacturing Fund | 2.83% | 22 | +100% |
| LIC MF Small Cap Fund | 1.82% | 15 | +11% |
| JM Value Fund | 1.06% | 9 | -10% |
| LIC MF Value Fund | 2.77% | 8 | +100% |
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.30% | 8 | -26% |
| LIC MF Value Fund | 2.77% | 7 | +100% |
| LIC MF Aggressive Hybrid Fund | 1.07% | 6 | +100% |
| JM ELSS-Tax Saver Fund | 1.24% | 3 | +100% |
| LIC MF Midcap Fund | 0.60% | 2 | +100% |
| LIC MF Balanced Advantage Fund | 0.20% | 1 | +100% |
| Groww Nifty Total Market Index Fund | 0.01% | 0 | -26% |
| Angel One Nifty Total Market Index Fund | 0.01% | 0 | -26% |
| Mirae Asset Nifty Total Market Index Fund | 0.01% | 0 | -19% |
| Bandhan Nifty Total Market Index Fund | 0.01% | 0 | -25% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | -19% |
Red flags
F-score 7 of 8No red flags in the latest statements and filings.
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 2026Sales ₹958 Cr +13.2% vs Jun 2025.
Net profit ₹64 Cr -4.5%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Tata Motors Ltd | 158,415 | 21.3 | 35.9 % |
| Ashok Leyland Ltd | 90,128 | 24.2 | 13.6 % |
| Atul Auto Ltd | 1,217 | 25.2 | 11.3 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-07-03 | Dividend - Rs 23.50 Per Share | |
| 2025-07-09 | Dividend - Rs 18 Per Share | |
| 2024-09-06 | Dividend - Rs 16 Per Share | |
| 2024-09-06 | Annual General Meeting | |
| 2023-09-08 | Annual General Meeting | |
| 2022-09-12 | Annual General Meeting | |
| 2021-07-20 | Annual General Meeting | |
| 2020-08-12 | Annual General Meeting | |
| 2019-09-19 | Annual General Meeting/Dividend - Rs 3 Per Share | |
| 2018-08-01 | Annual General Meeting / Dividend- Rs 1.50 Per Share | |
| 2017-09-14 | Annual General Meeting/Dividend - Rs 8/- Per Share | |
| 2016-07-28 | Annual General Meeting /Dividend - Rs 8/- Per Share | |
| 2015-08-27 | Dividend - Rs 6/- Per Share | |
| 2014-08-27 | Annual General Meeting / Dividend - Rs 3/- Per Share | |
| 2013-08-29 | Annual General Meeting And Dividend Rs.8/- Per Share | |
| 2012-06-15 | Annual General Meeting And Dividend - Rs.8/- Per Share | |
| 2011-07-13 | Annual General Meeting/Final Dividend Rs.6.50 Per Share And Special Dividend Rs.1.50 Per Share | |
| 2010-09-03 | Annual General Meeting And Dividend Rs.4/- Per Share | |
| 2010-02-09 | Rights 19:50@Prem Rs.190 | |
| 2009-09-11 | Agm/Div-Rs.1.50 Per Share | |
| 2008-06-20 | Agm/Dividend - 55% | |
| 2007-09-14 | Agm/Dividend-55% | |
| 2006-08-18 | Agm/Dividend-55% |
| Date | Type | What it says |
|---|---|---|
| 2026-10-01 | Monthly update | Monthly Business Updates for the month of September 2026 |
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.
Close to Close price movement greater than 100perc in previous 365 daysClose to Close price movement greater than 50perc in previous 3 monthsHigh low price variation greater than 75perc in previous 3 monthsScrip PE is greater than 50 (4 trailing quarters)