MarketFriction

Sarthak Metals Ltd

NSE SMLT · BSE 540393 · Iron & Steel Products
₹74.18 +19.99%
NSE close2026-10-01
52 week range56.61 - 121.00
Market cap₹81.6 Cr.
P/E16.7
Price band 20% Delivery 74.7%

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

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales77.4275.3070.6540.6145.7244.0048.0846.2236.3147.7361.9955.21
Expenses70.2272.8568.0038.9943.7941.9546.7144.4634.6745.6359.4853.65
Operating Profit7.202.452.651.621.932.051.371.761.642.102.511.56
OPM %9.30%3.25%3.75%3.99%4.22%4.66%2.85%3.81%4.52%4.40%4.05%2.83%
Other Income0.460.690.540.590.740.470.900.620.170.490.651.39
Interest0.100.330.250.120.180.090.250.120.070.050.250.26
Depreciation0.440.540.630.530.610.790.810.690.720.750.750.62
Profit before tax7.122.272.311.561.881.641.211.571.021.792.162.07
Tax %22.61%24.23%25.11%10.26%55.85%25.61%43.80%31.85%25.49%27.37%31.02%35.75%
Net Profit5.511.731.731.400.831.220.671.060.761.301.491.33
EPS in Rs4.021.261.261.020.610.890.490.770.560.951.090.97
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales128152171189214222457408305178192201
Expenses119143161177203206419368285171184193
Operating Profit9910121116384020788
OPM %7%6%6%6%5%7%8%10%6%3.9%4.1%3.9%
Other Income122210432323
Interest343443411101
Depreciation111222222333
Profit before tax5678611364019677
Tax %34%34%32%28%28%26%23%26%27%34%29%
Net Profit445658273014455
EPS in Rs2.952.893.484.213.375.8420.0721.7410.103.013.373.57
Dividend Payout %0%17%0%12%15%17%10%9%10%17%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth4%-3%-22%9%
Compounded Profit Growth3%-10%-47%29%
Stock Price CAGR%-4%-37%-44%
Return on Equity15%15%6%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital121214141414141414141414
Reserves81219232932396491102107111
Borrowings24242726362332220000
Other Liabilities31335761654413
Total Liabilities47496365847691116110120124137
Fixed Assets67791415141111151917
CWIP212100002000
Investments111111110002
Other Assets3940535569617710497105104117
Total Assets47496365847691116110120124137
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2540117-1163527-0-33
Cash from Investing Activity-3-1-20-6-3-13-2-3-6-2
Cash from Financing Activity2-3607-174-15-26-3-06
Net Cash Flow-00702-224720-6-29
Free Cash Flow-1320-514-2193222-7-33
CFO/OP22%77%66%0%28%167%14%66%113%160%27%-388%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days6071716245486345474887108
Inventory Days293629396045602716286894
Days Payable4012881101024
Cash Conversion Cycle85106100999785122636376152198
Working Capital Days28413557515065486879148173
ROCE %17%19%18%17%17%14%18%40%41%18%6%6%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters69.61%69.60%69.29%69.15%69.05%68.85%68.85%68.85%68.81%68.81%68.81%68.81%
FIIs0.83%0.69%0.60%0.61%0.19%0.16%0.15%0.15%0.14%0.14%0.14%0.14%
Public29.57%29.70%30.12%30.24%30.77%30.99%31.01%31.00%31.04%31.04%31.05%31.05%
No. of Shareholders7,5818,52010,90011,83712,32912,60812,25412,12511,81911,66711,39011,190

Fundamentals

Market Cap₹ 81.6 Cr.
Current Price₹ 59.6
Stock P/E16.7
Book Value₹ 91.7
ROCE5.76 %
ROE3.77 %
Dividend Yield0.84 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)29%
Standalone figures.
Valuation
Market capRs 102 Cr
Enterprise valueRs 101 Cr
P/E (TTM)20.81x
Price to book0.82x
Price to sales0.50x
EV / EBITDA9.65x
EV / EBIT13.23x
EV / sales0.50x
Earnings yield4.81%
P/E, 3-year average26.21x
P/B, 3-year average1.54x
P/E, 5-year average18.17x
P/B, 5-year average1.68x
Profitability
Operating margin (excl. other income)4.11%
Operating margin (incl. other income)5.18%
EBITDA margin5.22%
Pre-tax margin3.50%
Net profit margin2.42%
Net margin, latest quarter2.41%
ROE3.77%
ROCE5.76%
ROA3.53%
ROE, 3-year average6.59%
ROCE, 3-year average9.83%
ROA, 3-year average6.31%
ROE, 5-year average18.85%
ROCE, 5-year average22.60%
ROA, 5-year average14.35%
ROIC (approx.)4.36%
Tax rate29.47%
Other income / net worth1.65%
Growth
Sales growth (latest year)7.75%
Profit growth (latest year)11.89%
Sales CAGR, 3 years-22.21%
Sales CAGR, 5 years-2.81%
Profit CAGR, 3 years-46.29%
Profit CAGR, 5 years-10.42%
Sales growth QoQ-10.94%
Profit growth QoQ-10.74%
Sales growth YoY (latest quarter)19.45%
Profit growth YoY (latest quarter)25.47%
Per share
EPS (TTM)Rs 3.56
EPS (latest year)Rs 3.37
EPS (latest quarter)Rs 0.97
EPS, 3-year averageRs 5.49
EPS, 5-year averageRs 11.66
Book value per shareRs 90.78
Sales per shareRs 147.00
Cash flow per shareRs -23.78
Free cash flow per shareRs -24.11
Dividend per share, 3-year averageRs 0.75
Dividend per share, 5-year averageRs 1.38
Dividends
Dividend payout, 3-year average13.21%
Dividend payout, 5-year average11.40%
Efficiency
Asset turnover1.40x
Fixed asset turnover11.13x
Inventory turnover4.05x
Inventory days90 days
Debtor days108 days
Debtors turnover3.38x
Creditor days4 days
Cash conversion cycle198 days
Working capital days173 days
Leverage
Cash and bankRs 0 Cr
Net debtRs -0 Cr
Net debt / EBITDA-0.01x
Interest coverage12.17x
Owners' fund to total sources90.71%
Cash flow
Cash from Operating Activity (latest year)Rs -33 Cr
Cash from Investing Activity (latest year)Rs -2 Cr
Cash from Financing Activity (latest year)Rs 6 Cr
Net Cash Flow (latest year)Rs -29 Cr
Free cash flow (latest year)Rs -33 Cr
Cash from ops / profit, 5 years0.56x
Statement figures
Net sales (TTM)Rs 201 Cr
Net sales (latest year)Rs 192 Cr
Sales (latest quarter)Rs 55 Cr
Operating profit excl. other income (latest year)Rs 8 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 11 Cr
PBDT (TTM)Rs 10 Cr
Profit before tax (TTM)Rs 7 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 5 Cr
Net profit (latest year)Rs 5 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 3 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 159 Cr
Total expenditure (latest year)Rs 184 Cr
Total income (latest year)Rs 194 Cr
Share capitalRs 14 Cr
ReservesRs 111 Cr
Shareholders' fundsRs 124 Cr
Total assetsRs 137 Cr
Net blockRs 17 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 2 Cr
ReceivablesRs 57 Cr
InventoryRs 39 Cr
Other liabilitiesRs 13 Cr
Shares outstanding (crore)1.37
Ownership
Promoter holding68.81% (-0.04 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 20.8 is at the 81th percentile of its own 9.3-year range (median 11.3, low 2.9, high 40.6).
P/B 0.82 is at the 22th percentile (median 1.54).
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.
PeriodSMLTNifty 50Difference
1 week+22.1%-2.8% +24.9 pts
1 month+13.1%-6.8% +19.9 pts
3 months+3.9%-7.6% +11.5 pts
6 months+29.2%+0.4% +28.8 pts
1 year-29.6%-9.9% -19.7 pts
2 years-55.6%-13.6% -42.1 pts
3 years-69.0%+14.2% -83.1 pts
5 years+4.5%+27.9% -23.4 pts

Red flags

F-score 5 of 8
explainWeak cash conversion Cash from operations was -26% of net profit over the last 3 years
explainHigh accruals Profit exceeded operating cash by 27% of total assets in 2026
explainReceivables outrunning sales Receivables grew 34% vs sales +8% in 2026
lookInventory outrunning sales Inventory grew 43% vs sales +8% in 2026
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 ₹55 Cr +19.5% vs Jun 2025. Net profit ₹1 Cr +25.5%.
Against our estimate for Jun 2026: sales +0.6%, profit +3.2% in line. Our estimate for Sep 2026: sales Rs 45 Cr, profit Rs 1 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-07-11Dividend - Re 0.50 Per Share
2024-08-12Annual General Meeting
2023-12-22Interim Dividend - Re 1 Per Share
2023-08-09Annual General Meeting/Dividend - Re 1 Per Share
2022-12-30Interim Dividend - Re 1 Per Share
2022-08-25Annual General Meeting/Dividend - Re 1 Per Share
2022-01-12Interim Dividend - Re 1 Per Share
DateTypeWhat it says
2026-09-09DemiseDemise of Mr Narendra Dewangan, Chief Financial Officer of the company on September 09, 2026.
2026-08-20Shareholder meetingRevised Outcome of 31st Annual General Meeting
2026-08-19Shareholder meetingVoting results.
2026-08-19Shareholder meetingProceedings of Annual General Meeting held on August 18, 2026
2026-08-18General UpdatesRevision in the Financials for the Quarter Ended 30th June, 2026
2026-08-14Investor PresentationInvestor Presentation
2026-08-13Board meeting outcomeSarthak Metals Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-18Shareholder meetingNotice of Annual General Meeting to be held on August 18, 2026
2026-07-10AppointmentAppointment of Mrs Mrs. Ushasree Bhagavatula as Non- Executive Independent Director of the company w.e.f. July 10, 2026.
2026-06-22Disclosure under SEBI TakeovKishore Kumar Bansal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substant...
2026-06-22Disclosure under SEBI TakeovAnoop Kumar Bansal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantia...
2026-06-15Disclosure under SEBI TakeovManoj Kumar Bansal has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantia...
2026-06-05Disclosure under SEBI TakeovSanjay Shah has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acqui...
2026-05-23Investor PresentationInvestor Presentation
2026-05-22General UpdatesAnnual Secretarial Compliance Report for Financial Year 2025-26
2026-05-22General UpdatesGeneral Updates
2026-05-22General UpdatesGeneral Updates
2026-05-22Board meeting outcomeSarthak Metals Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-02-11Investor PresentationInvestor Presentation
2026-02-10Board meeting outcomeSarthak Metals Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2025-12-15Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2025-12-15Shareholder meetingSarthak Metals Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
2025-11-14Concall / analyst meetTranscript
2025-11-13Concall / analyst meetLink of Recording
2025-11-13Investor PresentationInvestor Presentation
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 Sarthak Metals Ltd?

Sarthak Metals Ltd (SMLT) has a market capitalisation of Rs 81.6 Cr. at the 2026-10-01 close.

What is the P/E ratio of Sarthak Metals Ltd?

Sarthak Metals Ltd trades at a P/E of 16.7 on trailing twelve-month profit, at the 2026-10-01 close.

What were Sarthak Metals Ltd's latest quarterly results?

In the Jun 2026 quarter, Sarthak Metals Ltd sales was Rs 55 Cr (+19.5% vs Jun 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Sarthak Metals Ltd?

The 52-week high is Rs 121.00 and the 52-week low is Rs 56.61.

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