Price
Financials
Standalone, Rs crore| Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 282 | 327 | 313 | 398 | 363 | 366 | 367 | 380 | 240 | 146 |
| Expenses | 269 | 314 | 305 | 379 | 346 | 354 | 351 | 377 | 252 | 202 |
| Operating Profit | 13 | 13 | 8 | 19 | 17 | 12 | 15 | 4 | -11 | -56 |
| OPM % | 4.6% | 3.9% | 2.6% | 4.8% | 4.7% | 3.2% | 4.2% | 0.9% | -4.7% | -38% |
| Other Income | 1 | 18 | 3 | 3 | 0 | 1 | 0 | 1 | 11 | 5 |
| Interest | 9 | 10 | 8 | 8 | 9 | 8 | 10 | 13 | 13 | 8 |
| Depreciation | 2 | 2 | 2 | 2 | 3 | 3 | 2 | 3 | 3 | 3 |
| Profit before tax | 2 | 19 | 1 | 12 | 6 | 1 | 3 | -13 | -16 | -63 |
| Tax % | -108% | -19% | 29% | 25% | 25% | 27% | 25% | -24% | -38% | -23% |
| Net Profit | 5 | 23 | 0 | 9 | 4 | 1 | 2 | -10 | -10 | -48 |
| EPS in Rs | 38.00 | 13.55 | 0.27 | 3.71 | 1.76 | 0.44 | 0.99 | -4.09 | -4.17 | -20.61 |
| Mar 2008 | Mar 2009 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 444 | 504 | 721 | 653 | 519 | 607 | 709 | 728 | 728 | 386 |
| Expenses | 426 | 483 | 691 | 644 | 491 | 581 | 682 | 699 | 713 | 453 |
| Operating Profit | 18 | 20 | 30 | 10 | 28 | 26 | 27 | 29 | 14 | -67 |
| OPM % | 4.1% | 4.0% | 4.1% | 1.5% | 5% | 4.2% | 3.9% | 4.0% | 2.0% | -17% |
| Other Income | 1 | 4 | 5 | 3 | 2 | 19 | 6 | 1 | 5 | 16 |
| Interest | 12 | 15 | 25 | 29 | 23 | 19 | 16 | 18 | 24 | 21 |
| Depreciation | 2 | 2 | 4 | 4 | 4 | 4 | 5 | 5 | 6 | 6 |
| Profit before tax | 6 | 7 | 6 | -21 | 2 | 22 | 12 | 7 | -9 | -78 |
| Tax % | 34% | 38% | 26% | -33% | 35% | 6% | 26% | 26% | -24% | -26% |
| Net Profit | 4 | 4 | 5 | -14 | 1 | 20 | 9 | 5 | -7 | -58 |
| EPS in Rs | 49.58 | 54.39 | 50.86 | -150.96 | 16.19 | 12.02 | 3.90 | 2.21 | -3.11 | -24.78 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | -6% | -18% | -47% | ||
| Compounded Profit Growth | % | % | % | -812% | ||
| Stock Price CAGR | % | % | -42% | -35% | ||
| Return on Equity | % | -6% | -11% | -37% |
| Mar 2008 | Mar 2009 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 9 | 9 | 9 | 17 | 23 | 23 | 23 | 23 |
| Reserves | 30 | 34 | 84 | 71 | 72 | 125 | 185 | 190 | 183 | 125 |
| Borrowings | 73 | 85 | 200 | 197 | 196 | 114 | 111 | 113 | 126 | 152 |
| Other Liabilities | 43 | 40 | 62 | 60 | 59 | 86 | 77 | 121 | 193 | 45 |
| Total Liabilities | 155 | 168 | 356 | 337 | 336 | 341 | 396 | 447 | 525 | 346 |
| Fixed Assets | 27 | 31 | 73 | 73 | 71 | 68 | 71 | 80 | 85 | 86 |
| CWIP | 3 | 3 | 0 | 0 | 0 | 2 | 3 | 4 | 2 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 125 | 134 | 283 | 263 | 265 | 272 | 322 | 363 | 438 | 258 |
| Total Assets | 155 | 168 | 356 | 337 | 336 | 341 | 396 | 447 | 525 | 346 |
| Mar 2008 | Mar 2009 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -23 | 36 | 25 | 47 | -22 | 26 | 24 | -21 | ||
| Cash from Investing Activity | -2 | -4 | -2 | 14 | -8 | -15 | -8 | 4 | ||
| Cash from Financing Activity | 8 | -32 | -24 | -61 | 38 | -16 | -10 | 5 | ||
| Net Cash Flow | -17 | -0 | -0 | -0 | 8 | -5 | 6 | -12 | ||
| Free Cash Flow | -25 | 31 | 23 | 61 | -31 | 10 | 15 | -18 | ||
| CFO/OP | -71% | 374% | 92% | 183% | -80% | 86% | 169% | 29% |
| Mar 2008 | Mar 2009 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 27 | 35 | 65 | 69 | 104 | 88 | 84 | 83 | 91 | 107 |
| Inventory Days | 75 | 53 | 58 | 57 | 56 | 47 | 46 | 60 | 71 | 47 |
| Days Payable | 30 | 25 | 26 | 29 | 39 | 49 | 37 | 58 | 98 | 34 |
| Cash Conversion Cycle | 72 | 63 | 98 | 97 | 121 | 87 | 94 | 85 | 65 | 121 |
| Working Capital Days | 68 | 67 | 40 | 29 | 54 | 57 | 82 | 76 | 63 | 29 |
| ROCE % | 19% | 3% | 9% | 9% | 10% | 8% | 4% | -21% |
| Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Promoters | 64.51% | 64.51% | 64.51% | 64.51% | 64.51% | 64.51% | 64.51% |
| FIIs | 0.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs | 0.00% | 0.36% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 35.15% | 35.13% | 35.33% | 35.49% | 35.49% | 35.49% | 35.49% |
| No. of Shareholders | 1,227 | 941 | 1,228 | 1,403 | 1,361 | 1,391 | 1,319 |
Fundamentals
Market Cap₹ 45.9 Cr.
Current Price₹ 19.8
Book Value₹ 64.0
ROCE-20.8 %
ROE-37.2 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-47%
Compounded Profit Growth (TTM)-812%
Standalone figures.
Valuation
Market capRs 44 Cr
Enterprise valueRs 192 Cr
Price to book0.30x
Price to sales0.11x
EV / sales0.50x
Earnings yield-130.40%
P/E, 3-year average32.79x
P/B, 3-year average0.49x
P/E, 5-year average26.56x
P/B, 5-year average0.59x
Profitability
Operating margin (excl. other income)-17.46%
Operating margin (incl. other income)-13.35%
EBITDA margin-13.35%
Pre-tax margin-20.26%
Net profit margin-14.92%
ROE-32.44%
ROCE-18.09%
ROA-13.22%
ROE, 3-year average-11.15%
ROCE, 3-year average-2.08%
ROA, 3-year average-4.49%
ROE, 5-year average-1.99%
ROCE, 5-year average3.79%
ROA, 5-year average-1.00%
ROIC (approx.)-14.24%
Tax rate26.35%
Other income / net worth10.67%
Growth
Sales growth (latest year)-46.99%
Sales CAGR, 3 years-18.37%
Sales CAGR, 5 years-5.74%
Per share
EPS (TTM)Rs -24.78
EPS (latest year)Rs -24.78
EPS, 3-year averageRs -8.56
EPS, 5-year averageRs -1.95
Book value per shareRs 64.00
Sales per shareRs 166.07
Cash flow per shareRs -8.83
Free cash flow per shareRs -7.75
Efficiency
Asset turnover1.12x
Fixed asset turnover4.48x
Inventory turnover8.17x
Inventory days45 days
Debtor days107 days
Debtors turnover3.41x
Creditor days34 days
Cash conversion cycle121 days
Working capital days29 days
Leverage
Total debtRs 152 Cr
Cash and bankRs 5 Cr
Net debtRs 148 Cr
Debt to equity1.02x
Interest coverage-2.75x
Owners' fund to total sources43.00%
Debt to assets44.08%
Cash flow
Cash from Operating Activity (latest year)Rs -21 Cr
Cash from Investing Activity (latest year)Rs 4 Cr
Cash from Financing Activity (latest year)Rs 5 Cr
Net Cash Flow (latest year)Rs -12 Cr
Free cash flow (latest year)Rs -18 Cr
FCFE (approx.: FCF + change in debt)Rs 8 Cr
Statement figures
Net sales (TTM)Rs 386 Cr
Net sales (latest year)Rs 386 Cr
Operating profit excl. other income (latest year)Rs -67 Cr
Other income (TTM)Rs 16 Cr
EBITDA (TTM)Rs -52 Cr
PBDT (TTM)Rs -72 Cr
Profit before tax (TTM)Rs -78 Cr
Tax (latest year)Rs -21 Cr
Net profit (TTM)Rs -58 Cr
Net profit (latest year)Rs -58 Cr
Depreciation (TTM)Rs 6 Cr
Interest (TTM)Rs 21 Cr
Cost of goods sold (latest year)Rs 391 Cr
Total expenditure (latest year)Rs 453 Cr
Total income (latest year)Rs 402 Cr
Share capitalRs 23 Cr
ReservesRs 125 Cr
Shareholders' fundsRs 149 Cr
Total assetsRs 346 Cr
Net blockRs 86 Cr
Capital work in progressRs 1 Cr
ReceivablesRs 113 Cr
InventoryRs 48 Cr
Other liabilitiesRs 45 Cr
Shares outstanding (crore)2.32
Ownership
Promoter holding64.51% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/B 0.30 is at the 16th percentile (median 0.64).
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 | SWASTIK | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +7.0% | -2.8% | +9.8 pts |
| 1 month | +0.0% | -6.8% | +6.8 pts |
| 3 months | -12.8% | -7.6% | -5.2 pts |
| 6 months | +0.0% | +0.4% | -0.4 pts |
| 1 year | -43.2% | -9.9% | -33.3 pts |
| 2 years | -72.9% | -13.6% | -59.4 pts |
| 3 years | -81.2% | +14.2% | -95.3 pts |
Red flags
F-score 2 of 8| look | Repeated 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
Mar 2026Sales ₹146 Cr -60.1% vs Mar 2024.
Net loss ₹48 Cr.
Against our estimate for Mar 2026: sales -54.6%, profit -1166.1% big miss.
Activity
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|---|---|---|---|
| Welspun Corp Ltd | 74,969 | 32.5 | 22.9 % |
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| Jindal Saw Ltd | 17,759 | 27.2 | 10.4 % |
| Usha Martin Ltd | 15,204 | 27.9 | 19.5 % |
| Godawari Power & Ispat Ltd | 14,902 | 18.2 | 20.5 % |
| Gallantt Ispat Ltd. | 13,007 | 29.8 | 18.2 % |
| Maharashtra Seamless Ltd | 9,672 | 13.1 | 14.3 % |
| Jayaswal Neco Industries Ltd | 8,997 | 15.7 | 20.7 % |
| Sunflag Iron & Steel Company Ltd | 8,368 | 39.4 | 4.07 % |
| Man Industries (India) Ltd | 7,198 | 35.2 | 16.2 % |
| Aeroflex Industries Ltd | 7,141 | 106 | 18.9 % |
| Technocraft Industries (India) Ltd | 6,635 | 19.5 | 16.3 % |
| Shivalik Bimetal Controls Ltd | 6,402 | 60.1 | 26.6 % |
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.
EPS in the scrip is zero (4 trailing quarters)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 Swastik Pipe Ltd?
Swastik Pipe Ltd (SWASTIK) has a market capitalisation of Rs 45.9 Cr. at the 2026-10-01 close.
What were Swastik Pipe Ltd's latest quarterly results?
In the Mar 2026 quarter, Swastik Pipe Ltd sales was Rs 146 Cr (-60.1% vs Mar 2024) with a net loss of Rs 48 Cr.
What is the 52-week high and low of Swastik Pipe Ltd?
The 52-week high is Rs 32.40 and the 52-week low is Rs 12.50.