SG Mart Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹10,900 Cr
- P/E
- 87.67
- ROE
- 7.92%
- Price to sales
- 1.69
- Debt to equity
- 0.17
- 52W high / low
- ₹865 / ₹319
- EBITDA margin
- 2.46%
- Net profit margin
- 1.76%
- Promoter holding
- 57.88%
- Sales (last year)
- ₹6,480 Cr
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]
Guidance scorecard · Q2 FY27 call
What SG Mart's management guided
and where it ranks in Metals & Minerals Trading
Metals & Minerals Trading
RevenueQ2 FY27 call
20–40%- SG Mart aims to aggressively expand its network to 25-plus service centers by 2030, potentially increasing to 30-35 centers earlier due to better-than-expected ramp-up.
- Service centers typically take 6-9 months to fully ramp up; volumes at existing centers show positive momentum (e.g., Q2 volume up 16% QoQ).
- Profiles manufacturing capacity stands at 0.5 million tons with an annual run rate target of 160,000 tons; expected strong volume ramp-up ahead.
- The company expects volume growth in processed steel, profiles, and accessories, complementing sales and profitability.
- Online sales platform to launch within 6 months, enhancing digital channel contribution.
2 more points from SG Mart's call on revenue
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MarginsQ2 FY27 call
Up 0–2%See what SG Mart said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- INR 250 crores capex done in H1 FY27 on land acquisition, plant and equipment for service centers, and Raipur plant.
- Additional INR 250-300 crores expected for rest of FY27, plus another INR 1,500 crores over next 2-3 years to complete service centers and Raipur manufacturing plant.
- Service center investment per location: INR 70-80 crores (INR 50 crore land + INR 5 crore plant/machinery + INR 10 crore shed).
- Backward integration plant in Raipur for coated steel to start in 9-12 months, expected to enhance margins and same-store sales.
2 more points from SG Mart's call on capex
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FundraisingQ2 FY27 call
None plannedSee what SG Mart said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Rising- SG Mart's solar order book stands at more than 50,000 tons, providing about 1-year visibility.
- The company’s quarterly solar run rate is approximately 11,000 tons, translating to an annual 50,000 tons.
- Recent stability in steel prices and resolution of land acquisition delays for independent power producers have facilitated new order bookings, especially in October.
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 Metals & Minerals Trading
on management's own guidance
- Nupur RecyclersGood growth2
- 1
- Adani Enterp.Moderate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Metals & Minerals Trading companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | SG MartThis stock | 20–40% | Up 0–2% | ₹10,124 Cr | 81.4 |
| 2 | Nupur Recyclers | 20–40% | Flat | ₹1,167 Cr | 68.0 |
| 3 | Adani Enterp. | 10–20% | — | ₹3.64L Cr | 153.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Metals & Minerals Trading rankingFinancials of SG Mart
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
SG Mart
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 53.79% | 52.69% | 40.97% | 40.78% | 40.71% | 40.66% | 36.27% | 36.27% | 36.27% | 36.27% | 57.90% | 57.88% |
| FIIs + | 0.04% | 3.65% | 5.62% | 5.34% | 6.21% | 6.51% | 0.91% | 1.16% | 1.26% | 1.86% | 1.90% | 3.94% |
| DIIs + | 4.16% | 0.54% | 0.54% | 1.61% | 1.60% | 1.07% | 5.70% | 4.74% | 4.97% | 5.27% | 4.11% | 3.93% |
| Public + | 42.01% | 43.11% | 52.88% | 52.27% | 51.47% | 51.75% | 57.13% | 57.84% | 57.50% | 56.60% | 36.09% | 34.24% |
| No. of Shareholders | 1,472 | 10,737 | 12,769 | 22,908 | 33,344 | 32,528 | 31,450 | 30,248 | 27,322 | 22,031 | 20,309 | 22,915 |
Financials of SG Mart
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 506 | 748 | 1,278 | 1,134 | 1,793 | 1,335 | 1,595 | 1,144 | 1,704 | 1,644 | 1,823 | 1,309 | 1,562 |
| Expenses + | 495 | 731 | 1,246 | 1,109 | 1,778 | 1,313 | 1,558 | 1,108 | 1,676 | 1,628 | 1,767 | 1,250 | 1,490 |
| Operating Profit | 11 | 17 | 32 | 25 | 15 | 22 | 37 | 36 | 28 | 17 | 56 | 59 | 72 |
| OPM % | 2.2% | 2.3% | 2.5% | 2.2% | 0.8% | 1.6% | 2.3% | 3.1% | 1.6% | 1.0% | 3.1% | 4.5% | 4.6% |
| Other Income + | 1 | 10 | 21 | 19 | 20 | 26 | 20 | 20 | 19 | 18 | 12 | 10 | 9 |
| Interest | 0 | 3 | 8 | 8 | 13 | 10 | 14 | 12 | 12 | 17 | 10 | 6 | 7 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 4 | 4 | 4 | 4 |
| Profit before tax | 12 | 23 | 44 | 36 | 22 | 37 | 42 | 43 | 33 | 14 | 54 | 58 | 69 |
| Tax % | 25% | 26% | 25% | 27% | 26% | 25% | 21% | 24% | 20% | 21% | 23% | 22% | 22% |
| Net Profit + | 9 | 17 | 34 | 26 | 16 | 28 | 33 | 32 | 27 | 11 | 41 | 46 | 54 |
| EPS in Rs | 1.12 | 1.53 | 3.01 | 2.36 | 1.42 | 2.50 | 2.95 | 2.56 | 2.11 | 0.85 | 3.29 | 3.62 | 4.28 |
Financials of SG Mart
Profit & Loss
Annual income statement trend
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 1 | 9 | 5 | 3 | 2,683 | 5,856 | 6,315 | 6,338 |
| Expenses + | 0 | 1 | 1 | 1 | 2,621 | 5,753 | 6,179 | 6,134 |
| Operating Profit | 1 | 8 | 3 | 2 | 62 | 103 | 137 | 204 |
| OPM % | 54% | 89% | 70% | 56% | 2.3% | 1.8% | 2.2% | 3.2% |
| Other Income + | 0 | 0 | 0 | -1 | 32 | 80 | 69 | 48 |
| Interest | 0 | 2 | 1 | 0 | 12 | 44 | 51 | 41 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 2 | 12 | 16 |
| Profit before tax | -0 | 5 | 1 | -1 | 81 | 137 | 143 | 195 |
| Tax % | -700% | 4% | 31% | -225% | 25% | 25% | 22% | |
| Net Profit + | 0 | 5 | 1 | 1 | 61 | 103 | 111 | 152 |
| EPS in Rs | 0.06 | 2.56 | 0.30 | 0.44 | 5.46 | 9.20 | 8.81 | 12.04 |
| Dividend Payout % | 38% | 2% | 16% | 11% | 0% | 0% | 0% |
Financials of SG Mart
Balance Sheet
Capital structure and asset base
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 11 | 11 | 13 | 13 |
| Reserves | 5 | 10 | 10 | 11 | 1,076 | 1,197 | 1,584 | 1,691 |
| Borrowings + | 18 | 15 | 11 | 0 | 182 | 722 | 268 | 53 |
| Other Liabilities + | 3 | 4 | 4 | 0 | 218 | 368 | 385 | 315 |
| Total Liabilities | 27 | 30 | 26 | 12 | 1,487 | 2,298 | 2,250 | 2,072 |
| Fixed Assets + | 25 | 24 | 23 | 1 | 39 | 216 | 385 | 510 |
| CWIP | 0 | 0 | 0 | 0 | 17 | 76 | 20 | 17 |
| Investments | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 |
| Other Assets + | 2 | 6 | 4 | 8 | 1,431 | 2,006 | 1,845 | 1,545 |
| Total Assets | 27 | 30 | 26 | 12 | 1,487 | 2,298 | 2,250 | 2,072 |
Financials of SG Mart
Cash Flows
Operating, investing and financing cash movement
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | 5 | 6 | 1 | 30 | -391 | 258 |
| Cash from Investing Activity + | 0 | 0 | -0 | 16 | -1,104 | -87 | 404 |
| Cash from Financing Activity + | 0 | -5 | -5 | -12 | 1,186 | 479 | -266 |
| Net Cash Flow | 0 | 0 | 0 | 5 | 111 | 1 | 396 |
| Free Cash Flow | 0 | 5 | 6 | 20 | -75 | -549 | 27 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 0% | 76% | 168% | 79% | 72% | -345% | 211% |
Financials of SG Mart
Ratios
Working capital efficiency and return ratios
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 207 | 117 | 30 | 27 | 12 | 20 | 15 |
| Inventory Days | 10 | 16 | 18 | ||||
| Days Payable | 28 | 21 | 24 | ||||
| Cash Conversion Cycle | 207 | 117 | 30 | 27 | -6 | 15 | 10 |
| Working Capital Days | -1,216 | 41 | -685 | 278 | -20 | -13 | 7 |
| ROCE % | 28% | 9% | 8% | 11% | 10% |
Guidance history
How SG Mart's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 20–40% | Up 0–2% | Planned | None planned | Rising |
| Q1 FY27 call → | 40%+ | Flat | Planned | None planned | Rising |
| Q4 FY26 call → | 40%+ | Flat | Planned | None planned | — |
| Q3 FY26 call → | 40%+ | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
92 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +133.9% | 96% |
| Last 6 months | +51.4% | 89% |
| Last 3 months | +24.9% | 89% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For SG Mart: 0.4 × 96 + 0.4 × 89 + 0.2 × 89 = 92.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What SG Mart's management said in earlier quarters
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