Standard Engineering Technology Ltd

NSE: SETL BSE: 544333Pharma

Incorporated in September 2012, Standard Engineering Technology is a manufacturer of engineering equipment for the pharmaceutical and chemical sectors in India.[1]

₹137

52W: ₹105 — ₹204

PE 66.7 · Book ₹32 · +328% vs book

Market Cap₹2,740 Cr

Stock P/E66.7Price to Earnings

ROCE8.68%Return on Capital

ROE6.66%Return on Equity

Div. Yield0%Face Value ₹10

Strengths

+Company is almost debt free.
+Company is expected to give good quarter
+Company has delivered good profit growth of 32.8% CAGR over last 5 years

Weaknesses

−Stock is trading at 4.13 times its book value
−Though the company is reporting repeated profits, it is not paying out dividend
−Company has a low return on equity of 7.36% over last 3 years.
−Earnings include an other income of Rs.30.1 Cr.
−Debtor days have increased from 116 to 148 days.

Shareholding Pattern

Promoters60.47%

FIIs2.43%

DIIs0.35%

Public36.76%

Category	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	60.41%	60.41%	60.41%	60.47%▲0.1	60.47%
FIIs	2.63%	2.45%▼0.2	2.72%▲0.3	2.54%▼0.2	2.43%▼0.1
DIIs	2.21%	0.98%▼1.2	1.1%▲0.1	0.77%▼0.3	0.35%▼0.4
Public	34.76%	36.16%▲1.4	35.79%▼0.4	36.24%▲0.5	36.76%▲0.5

Financial Statements

Metric	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	51.86	65.4	40.76	59.59	40.2	55.75	67.38	52.65	60.42	78.22
Expenses	41.79	55.59	33.8	50.77	34.16	47.17	53.66	46.59	54.35	71.54
Operating Profit	10.07	9.81	6.96	8.82	6.04	8.58	13.72	6.06	6.07	6.68
OPM %	19.42%	15%	17.08%	14.8%	15.02%	15.39%	20.36%	11.51%	10.05%	8.54%
Net Profit	6.09	9.56	4.86	8	5.46	10.32	14.76	8.69	8.78	8.87
EPS ₹	3.38	5.26	0.27	0.44	0.3	0.52	0.74	0.44	0.44	0.44

AI Insights

Revenue Trend

Mar 2026 revenue at ₹259Cr, up 32.1% YoY. OPM at 13%.

Debt Position

Borrowings at ₹35Cr. Debt-to-equity ratio: 0.08x. Healthy balance sheet.

Capex Cycle

CWIP at ₹15Cr (24% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.35% (-1.86pp change). FIIs: 2.43% (-0.20pp change). Promoters hold 60.47%.

Margin & Efficiency

ROCE improving from 0% (Mar 2020) to 9% (Mar 2026). Working capital days: 312.

Valuation

PE 66.7x with 8.68% ROCE. Price is 328% above book value of ₹32. Dividend yield: 0%.