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Swing Capital

Signet Industries Ltd

NSE: SIGIND BSE: 512131

Incorporated in 1985, Signet Industries Ltd does Merchant Trading of Polymers & Other Products and Manufacturing of Micro Irrigation System, Sprinkler Pipe / PVC Pipe & Agro fittings and its Allied Products, and all type of House Hold & Plastic Moulded Furniture[1]

₹50.5
52W: ₹40 — ₹81.8
PE 7.08 · Book ₹80.3 · -37% vs book
Market Cap₹149 Cr
Stock P/E7.08Price to Earnings
ROCE13.7%Return on Capital
ROE6.88%Return on Equity
Div. Yield1%Face Value ₹10

Strengths

  • +Stock is trading at 0.60 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 5.96% over past five years.
  • −Company has a low return on equity of 6.87% over last 3 years.

Shareholding Pattern

Promoters73.3%
FIIs0%
DIIs0%
Public26.7%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters72.57%72.78%▲0.272.78%72.78%72.78%72.89%▲0.172.89%73.3%▲0.4
FIIs0%0%0%0%0%0%0%0%
DIIs0%0%0%0%0%0%0%0%
Public27.43%27.22%▼0.227.22%27.22%27.22%27.11%▼0.127.11%26.7%▼0.4

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales268.78311.31344.13252.64257.65303.98364.82259.52306.51390.15
Expenses248.98286.44322.92238.33236.86281.8334.16234.76285.06365.82
Operating Profit19.824.8721.2114.3120.7922.1830.6624.7621.4524.33
OPM %7.37%7.99%6.16%5.66%8.07%7.3%8.4%9.54%7%6.24%
Net Profit3.415.43.440.493.224.527.410.693.475.16
EPS ₹1.161.831.170.171.091.542.520.231.181.75

AI Insights

Revenue Trend

TTM revenue at ₹1,321Cr, up 12% YoY. OPM at 8%.

Debt Position

Borrowings at ₹411Cr. Debt-to-equity ratio: 1.99x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹2Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 73.3%.

Margin & Efficiency

ROCE declining from 19% (Mar 2014) to 14% (Mar 2025). Working capital days: 51.

Valuation

PE 7.08x with 13.7% ROCE. Price is -37% above book value of ₹80.3. Dividend yield: 1%.

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