Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Stovec Inds.
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 44.40 | 57.25 | 47.64 | 57.97 | 59.96 | 61.20 | 57.39 | 56.02 | 49.06 | 56.75 | 40.88 | 51.42 | 46.69 |
| Expenses + | 41.06 | 54.60 | 45.97 | 52.19 | 53.10 | 55.23 | 52.88 | 52.67 | 45.33 | 53.10 | 39.02 | 50.89 | 44.03 |
| Operating Profit | 3.34 | 2.65 | 1.67 | 5.78 | 6.86 | 5.97 | 4.51 | 3.35 | 3.73 | 3.65 | 1.86 | 0.53 | 2.66 |
| OPM % | 7.52% | 4.63% | 3.51% | 9.97% | 11.44% | 9.75% | 7.86% | 5.98% | 7.60% | 6.43% | 4.55% | 1.03% | 5.70% |
| Other Income + | 1.37 | 1.47 | 0.60 | 0.99 | 1.15 | 0.47 | 1.12 | 0.67 | 1.27 | 1.75 | 1.14 | 1.00 | 0.72 |
| Interest | 0.00 | 0.00 | 0.09 | 0.00 | 0.00 | 0.00 | 0.06 | 0.02 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 |
| Depreciation | 1.51 | 1.48 | 1.49 | 1.89 | 1.68 | 1.68 | 1.58 | 1.64 | 1.55 | 1.47 | 1.39 | 1.35 | 1.32 |
| Profit before tax | 3.20 | 2.64 | 0.69 | 4.88 | 6.33 | 4.76 | 3.99 | 2.36 | 3.45 | 3.93 | 1.61 | 0.16 | 2.06 |
| Tax % | 23.44% | 23.48% | 18.84% | 18.03% | 24.96% | 24.37% | 22.81% | 35.59% | 25.22% | 24.68% | 26.09% | -6.25% | 18.93% |
| Net Profit + | 2.45 | 2.02 | 0.57 | 4.01 | 4.75 | 3.59 | 3.09 | 1.53 | 2.58 | 2.96 | 1.20 | 0.16 | 1.66 |
| EPS in Rs | 11.73 | 9.67 | 2.73 | 19.20 | 22.75 | 17.19 | 14.80 | 7.33 | 12.36 | 14.18 | 5.75 | 0.77 | 7.95 |
Financials of Stovec Inds.
Annual income statement trend
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 95 | 157 | 189 | 210 | 193 | 194 | 151 | 233 | 236 | 207 | 235 | 198 | 196 |
| Expenses + | 79 | 124 | 153 | 168 | 153 | 158 | 135 | 196 | 210 | 194 | 214 | 188 | 187 |
| Operating Profit | 16 | 33 | 35 | 42 | 40 | 36 | 16 | 37 | 26 | 13 | 21 | 10 | 9 |
| OPM % | 17% | 21% | 19% | 20% | 21% | 19% | 11% | 16% | 11% | 6% | 9% | 5% | 4% |
| Other Income + | 3 | 4 | 4 | 4 | 20 | 5 | 6 | 7 | 12 | 4 | 3 | 5 | 5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 3 | 5 | 5 | 6 | 5 | 4 | 5 | 5 | 6 | 6 | 7 | 6 | 6 |
| Profit before tax | 17 | 31 | 34 | 39 | 54 | 37 | 17 | 39 | 32 | 11 | 17 | 9 | 8 |
| Tax % | 33% | 34% | 34% | 35% | 29% | 25% | 22% | 24% | 24% | 21% | 26% | 25% | |
| Net Profit + | 11 | 21 | 22 | 26 | 39 | 28 | 13 | 30 | 25 | 9 | 13 | 7 | 6 |
| EPS in Rs | 53.16 | 98.37 | 107.23 | 123.04 | 185.44 | 133.81 | 64.46 | 141.95 | 118.63 | 43.30 | 62.07 | 33.05 | 28.65 |
| Dividend Payout % | 29% | 30% | 29% | 29% | 30% | 45% | 34% | 40% | 40% | 402% | 185% | 36% |
Financials of Stovec Inds.
Capital structure and asset base
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 56 | 69 | 83 | 109 | 119 | 133 | 133 | 159 | 172 | 138 | 123 | 130 |
| Borrowings + | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities + | 30 | 47 | 57 | 37 | 55 | 43 | 45 | 40 | 41 | 48 | 36 | 36 |
| Total Liabilities | 88 | 118 | 142 | 148 | 177 | 178 | 181 | 201 | 214 | 188 | 160 | 168 |
| Fixed Assets + | 25 | 25 | 23 | 37 | 29 | 26 | 30 | 36 | 34 | 35 | 32 | 27 |
| CWIP | 0 | 0 | 6 | 0 | 0 | 5 | 0 | 0 | 0 | 1 | 0 | 3 |
| Investments | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Other Assets + | 63 | 92 | 112 | 109 | 146 | 147 | 150 | 164 | 179 | 152 | 128 | 138 |
| Total Assets | 88 | 118 | 142 | 148 | 177 | 178 | 181 | 201 | 214 | 188 | 160 | 168 |
Financials of Stovec Inds.
Operating, investing and financing cash movement
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 5 | 18 | 25 | 20 | 41 | 21 | 22 | 4 | 24 | 13 | 16 | -2 |
| Cash from Investing Activity + | -11 | -13 | -19 | -7 | -36 | 16 | -27 | 2 | -5 | 28 | 6 | 14 |
| Cash from Financing Activity + | -4 | -4 | -8 | -8 | -9 | -14 | -12 | -5 | -12 | -43 | -28 | -0 |
| Net Cash Flow | -10 | 1 | -1 | 5 | -5 | 23 | -18 | 2 | 8 | -2 | -5 | 12 |
| Free Cash Flow | -10 | 12 | 18 | 4 | 47 | 16 | 18 | -5 | 18 | 5 | 13 | -4 |
| CFO/OP | 64% | 83% | 108% | 81% | 142% | 84% | 179% | 42% | 121% | 107% | 101% | 12% |
Financials of Stovec Inds.
Working capital efficiency and return ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 76 | 70 | 50 | 60 | 52 | 59 | 59 | 49 | 36 | 55 | 55 | 65 |
| Inventory Days | 136 | 114 | 127 | 101 | 94 | 127 | 142 | 113 | 151 | 169 | 114 | 182 |
| Days Payable | 94 | 80 | 89 | 87 | 90 | 82 | 92 | 44 | 60 | 80 | 39 | 48 |
| Cash Conversion Cycle | 118 | 104 | 88 | 74 | 55 | 104 | 109 | 118 | 127 | 144 | 130 | 199 |
| Working Capital Days | 78 | 44 | 31 | 59 | 3 | 47 | 39 | 121 | 86 | 76 | 91 | 111 |
| ROCE % | 31% | 49% | 44% | 40% | 35% | 29% | 13% | 25% | 15% | 7% | 13% | 8% |
Profit After Tax showed strong YoY growth (141.94% in Q1FY27), indicating robust profitability momentum. Key concall takeaways from Aaron Industries Ltd's Q1…
New order book at best-ever levels (INR 985 crores), indicating robust future demand. Key concall takeaways from The Anup Engineering Ltd's Q1 FY27 earnings…
Long-term ambition to become a ₹1 billion revenue company within 4-5 years supported by expansion into propulsion systems, trainsets, and international…
Plan to reach a run rate of 40 propulsion systems per month, translating roughly to ₹700+ crores annual revenue in subsequent years. Key concall takeaways from…