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Swing Capital

SG Mart Ltd

NSE: SGMART BSE: 512329Metal

SG Mart offers a wide range of products with 27+ product categories, and 2500+ SKUs. These categories include steel construction products like TMT Rebars, HR Sheet, Welding rod, Binding wire, mesh net, tapping screw and barbed wire, tiles, cement, bath fittings, laminates and paints. [1]

₹586
52W: ₹313 — ₹618
PE 85.1 · Book ₹122 · +380% vs book
Market Cap₹7,389 Cr
Stock P/E85.1Price to Earnings
ROCE9.36%Return on Capital
ROE6.34%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has delivered good profit growth of 211% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 4.74 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 7.89% over last 3 years.
  • −Earnings include an other income of Rs.71.9 Cr.
  • −Company's cost of borrowing seems high
  • −Promoter holding has decreased over last 3 years: -38.7%

Shareholding Pattern

Promoters36.27%
FIIs1.86%
DIIs5.27%
Public56.6%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters40.97%40.78%▼0.240.71%▼0.140.66%▼0.136.27%▼4.436.27%36.27%36.27%
FIIs5.62%5.34%▼0.36.21%▲0.96.51%▲0.30.91%▼5.61.16%▲0.21.26%▲0.11.86%▲0.6
DIIs0.54%1.61%▲1.11.6%▼0.01.07%▼0.55.7%▲4.64.74%▼1.04.97%▲0.25.27%▲0.3
Public52.88%52.27%▼0.651.47%▼0.851.75%▲0.357.13%▲5.457.84%▲0.757.5%▼0.356.6%▼0.9

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales7481,2781,1371,7641,2711,3501,0371,5081,4071,588
Expenses7311,2461,1121,7491,2511,3261,0071,4931,3991,544
Operating Profit1732241420253015844
OPM %2%2%2%1%2%2%3%1%1%3%
Net Profit1734271728222917734
EPS ₹1.533.022.441.492.461.982.331.330.532.7

AI Insights

Revenue Trend

Mar 2026 revenue at ₹5,540Cr, up 0.5% YoY. OPM at 2%.

Debt Position

Borrowings at ₹16Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹19Cr (7% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 5.27% (+5.27pp change). FIIs: 1.86% (+1.86pp change). Promoters hold 36.27%.

Margin & Efficiency

ROCE improving from -1% (Mar 2015) to 9% (Mar 2026). Working capital days: 0.

Valuation

PE 85.1x with 9.36% ROCE. Price is 380% above book value of ₹122. Dividend yield: 0%.

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