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Swing Capital

Shilchar Technologies Ltd

NSE: SHILCTECH BSE: 531201Energy

Shilchar Technologies is engaged in the business of manufacturing Electronics & Telecom and Power & Distribution transformers. The company has recently ventured into the manufacturing of Ferrite transformers. [1]

₹3,950
52W: ₹2851 — ₹6125
PE 28.6 · Book ₹429 · +821% vs book
Market Cap₹4,518 Cr
Stock P/E28.6Price to Earnings
ROCE50.7%Return on Capital
ROE37.8%Return on Equity
Div. Yield0.31%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 95.6% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 46.1%
  • +Company's median sales growth is 38.4% of last 10 years

Weaknesses

  • −Stock is trading at 9.16 times its book value
  • −Promoter holding has decreased over last 3 years: -3.73%
  • −Working capital days have increased from 131 days to 204 days

Shareholding Pattern

Promoters62.12%
FIIs2.55%
DIIs1.91%
Public33.43%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters64.01%64.01%64.01%64.01%64.01%64.01%62.12%▼1.962.12%
FIIs3.08%3.22%▲0.12.29%▼0.92.05%▼0.22.12%▲0.12.73%▲0.62.75%▲0.02.55%▼0.2
DIIs0.02%0.03%▲0.00.11%▲0.10.11%0.13%▲0.00.33%▲0.21.49%▲1.21.91%▲0.4
Public32.37%32.22%▼0.133.06%▲0.833.3%▲0.233.73%▲0.432.92%▼0.833.65%▲0.733.43%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales118105107131154232159171170152
Expenses86747890111161106118118120
Operating Profit32312941437152545232
OPM %27%30%28%31%28%31%33%31%31%21%
Net Profit26252433355541464228
EPS ₹22.8921.9521.0428.7130.548.5636.2740.1637.0124.82

AI Insights

Revenue Trend

Mar 2026 revenue at ₹652Cr, up 4.7% YoY. OPM at 29%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹6Cr (9% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.91% (+1.91pp change). FIIs: 2.55% (+1.96pp change). Promoters hold 62.12%.

Margin & Efficiency

ROCE improving from 24% (Mar 2015) to 51% (Mar 2026). Working capital days: 204.

Valuation

PE 28.6x with 50.7% ROCE. Price is 821% above book value of ₹429. Dividend yield: 0.31%.

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