Arthneeti

Sarthak Metals Q1 FY27 Share Price & Earnings Call Analysis

₹70.08-0.41% today
Market cap
₹96 Cr
P/E
19.67
ROE
3.77%
PEG
-0.43
Price to sales
0.48
Debt to equity
0.04
52W high / low
₹111 / ₹57.4
Sales growth (5Y)
-2.81%
EBITDA margin
3.88%
Net profit margin
2.40%
Promoter holding
68.81%
Sales (last year)
₹201 Cr

Incorporated in 1995, Sarthak Metals Ltd manufactures and sells cored wires, ferro alloys, aluminium wire and related items[1]

Guidance scorecard · Q1 FY27 call

What Sarthak Metals's management guided
and where it ranks in Industrial Products

Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookFlat

RevenueQ2 FY26 call

10–20%
  • Welding division targets ₹25 crore sales revenue in the next 2 years, with current growth trajectory supporting this confidence.
  • Plans to expand welding SKUs from 5 to 10 within 12-24 months.
  • Biotech revenue expected to start very soon, with positive industry discussions underway.
  • Core business volumes declined 14% YoY in Q2 FY26 due to monsoon and competition but viewed as temporary setback; focus on regaining market share through service quality.
  • Company aims for diversified growth with three pillars: core cored wire and aluminum wires, welding consumables, and biotechnology.
  • Biotech market size estimated over ₹1,000 crore with huge opportunity due to government biofuel policies.

2 more points from Sarthak Metals's call on revenue

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Full Q2 FY26 analysis

MarginsQ2 FY26 call

Flat

See what Sarthak Metals said on margins — free account, 30 seconds.

Full Q2 FY26 analysis

CapexQ2 FY26 call

Planned
  • The steel sector is undergoing CapEx cycles with major steel plants like JSPL and JSW continuing their investments, though the urgency to complete these projects quickly has decreased.
  • Sarthak Metals is not currently focusing on government grants or incentives for its biotech division but is actively seeking external partnerships with established players to share technology.
  • The company made a strategic decision to temporarily step back from the aluminium flipping coil segment to protect profitability amid unethical competition, with plans to resume full capacity when market conditions stabilize.

2 more points from Sarthak Metals's call on capex

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Full Q2 FY26 analysis

FundraisingQ2 FY26 call

See what Sarthak Metals said on fundraising — free account, 30 seconds.

Full Q2 FY26 analysis

Order bookQ2 FY26 call

Flat
  • The demand for steel and related products remains robust with order books at fabrication and construction houses filled.
  • Despite a 14% YoY decline in Q2 volumes in the cored wire segment due to monsoon and intensified competition, the company retains existing orders and focuses on ethical execution to regain market trust.
  • The company is closely watching market conditions, prepared to scale production when feasible, especially in the aluminium flipping coil segment.
  • Overall, the company is confident of growth and anticipates continued order inflows driven by infrastructure projects and government initiatives.
Full Q2 FY26 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Sarthak Metals rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of Sarthak Metals

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Sarthak Metals

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +80.8281.8077.4275.3070.6540.6145.7244.0048.0846.2236.3147.7361.99
Expenses +72.9874.2470.2272.8568.0038.9943.7941.9546.7144.4634.6745.6359.48
Operating Profit7.847.567.202.452.651.621.932.051.371.761.642.102.51
OPM %9.70%9.24%9.30%3.25%3.75%3.99%4.22%4.66%2.85%3.81%4.52%4.40%4.05%
Other Income +0.620.240.460.690.540.590.740.470.900.620.170.490.65
Interest0.200.110.100.330.250.120.180.090.250.120.070.050.25
Depreciation0.440.430.440.540.630.530.610.790.810.690.720.750.75
Profit before tax7.827.267.122.272.311.561.881.641.211.571.021.792.16
Tax %26.09%26.17%22.61%24.23%25.11%10.26%55.85%25.61%43.80%31.85%25.49%27.37%31.02%
Net Profit +5.785.355.511.731.731.400.831.220.671.060.761.301.49
EPS in Rs4.223.914.021.261.261.020.610.890.490.770.560.951.09

Financials of Sarthak Metals

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +151128152171189214222457408305178192
Expenses +144119143161177203206419368285171184
Operating Profit7991012111638402078
OPM %5%7%6%6%6%5%7%8%10%6%4%4%
Other Income +112221043232
Interest334344341110
Depreciation111122222233
Profit before tax4567861136401967
Tax %32%34%34%32%28%28%26%23%26%27%34%29%
Net Profit +344565827301445
EPS in Rs2.372.952.893.484.213.375.8420.0721.7410.103.013.37
Dividend Payout %0%0%17%0%12%15%17%10%9%10%17%0%

Financials of Sarthak Metals

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital121214141414141414141414
Reserves81219232932396491102107111
Borrowings +24242726362332220007
Other Liabilities +3133576165446
Total Liabilities47496365847691116110120124137
Fixed Assets +67791415141111151917
CWIP212100002000
Investments111111110000
Other Assets +3940535569617710497105104119
Total Assets47496365847691116110120124137

Financials of Sarthak Metals

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +2540117-1163527-0-33
Cash from Investing Activity +-3-1-20-6-3-13-2-3-6-2
Cash from Financing Activity +2-3607-174-15-26-3-06
Net Cash Flow-00702-224720-6-29
Free Cash Flow-1320-514-2193222-7-33
CFO/OP22%77%66%0%28%167%14%66%113%160%27%-388%

Financials of Sarthak Metals

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days6071716245486345474887108
Inventory Days293629396045602716286894
Days Payable4012881101024
Cash Conversion Cycle85106100999785122636376152198
Working Capital Days28413557515065486879148173
ROCE %17%19%18%17%17%14%18%40%41%18%6%6%

Guidance history

How Sarthak Metals's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q2 FY26 call →10–20%FlatPlanned—Flat
Q1 FY25 call →10–20%FlatPlannedPlanned—
Q4 FY24 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Continue your research

What Sarthak Metals's management said in earlier quarters

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