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Swing Capital

Shri Bajrang Alliance Ltd

NSE: SHBAJRG BSE: 526981FMCG

Incorproated in 1990, Shri Bajrang Alliance Ltd manufactures Structural Steel and also Ready To Eat frozen food products and extraction of Oils & Oleoresin essential oils[1]

₹165
52W: ₹130 — ₹250
PE 12.6 · Book ₹96.2 · +72% vs book
Market Cap₹148 Cr
Stock P/E12.6Price to Earnings
ROCE4.34%Return on Capital
ROE6.71%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Debtor days have improved from 31.2 to 19.6 days.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Tax rate seems low
  • −Company has a low return on equity of 7.41% over last 3 years.
  • −Contingent liabilities of Rs.370 Cr.
  • −Company might be capitalizing the interest cost
  • −Earnings include an other income of Rs.12.8 Cr.

Shareholding Pattern

Promoters63.96%
FIIs0%
DIIs0%
Public36.04%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters63.96%63.97%▲0.063.97%63.97%63.96%▼0.063.96%63.96%63.96%
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public36.04%36.03%▼0.036.02%▼0.036.03%▲0.036.03%36.03%36.02%▼0.036.04%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales68.16124.19226.54130.4980.21107.2380.4389.3487.446.96
Expenses68.19126.39224.45129.8379.19106.3378.8886.8684.2949.45
Operating Profit-0.03-2.22.090.661.020.91.552.483.11-2.49
OPM %-0.04%-1.77%0.92%0.51%1.27%0.84%1.93%2.78%3.56%-5.3%
Net Profit-0.62-2.13.760.350.450.353.512.493.81.96
EPS ₹-0.69-2.334.180.390.50.393.92.774.222.18

AI Insights

Revenue Trend

TTM revenue at ₹304Cr, down 23.6% YoY. OPM at 2%.

Debt Position

Borrowings at ₹81Cr. Debt-to-equity ratio: 1.04x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹4Cr (10% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 63.96%.

Margin & Efficiency

ROCE declining from 7% (Mar 2014) to 4% (Mar 2025). Working capital days: 7.

Valuation

PE 12.6x with 4.34% ROCE. Price is 72% above book value of ₹96.2. Dividend yield: 0%.

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