SINDHUTRAD

Sindhu Trade Links Limited

Multi-segment conglomerate with logistics, oil trading and drilling businesses

Energy›Oil, Gas & Consumable Fuels›Consumable Fuels›Coal

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Key metrics

Price as of 2026-10-16

Stock price
₹20.66
Market cap
3,806 Cr
Stock P/E
41.2
P/B
1.82
ROE (FY26)
2.5%
ROCE (FY26)
4.3%
Operating margin (FY26)
1.2%
Debt / equity (FY26)
0.26
OCF / EBITDA (FY26)
224.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Sindhu Trade Links is a diversified Indian group whose biggest reported activity is transportation, logistics, mining and construction services, alongside oil and lubricant trading, electricity generation, financing, oil drilling and overseas coal mining and trading.

Company snapshot

4thBy market cap

Ranked among 4 companies in Coal.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 73.7% of revenue

SegmentRevenue shareRevenuePBTAssets
FINANCE OPERATIONS
0.0%
0.28 Cr-7 Cr—
GENERATION AND SUPPLY OF ELECTRICITY
3.0%
43 Cr1 Cr—
OIL DRILLING OPERATIONS
2.3%
33 Cr2 Cr—
OTHER INCOME
19.6%
282 Cr282 Cr—
OVERSEAS COAL MINING AND TRADING
73.7%
1,057 Cr-74 Cr—
TRADING OF OIL LUBRICANTS AND SPARES
1.4%
20 Cr0.22 Cr—
TRANSPORTATION LOGISTICS AND MINING AND CONSTRCUTION
19.6%
282 Cr55 Cr—

Shares add up to 120% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.26x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Interest coverage of 0.1x — earnings barely cover interest payments, which is a warning sign.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales397 Cr416 Cr446 Cr554 Cr370 Cr511 Cr297 Cr165 Cr124 Cr119 Cr115 Cr129 Cr
Operating expenses (approx.)377 Cr350 Cr471 Cr414 Cr462 Cr454 Cr627 Cr152 Cr126 Cr116 Cr110 Cr108 Cr
EBITDA19 Cr66 Cr-26 Cr140 Cr-93 Cr57 Cr-329 Cr13 Cr-2 Cr3 Cr5 Cr21 Cr
OPM %4.9%15.8%-5.8%25.3%-25.1%11.2%-110.8%8.0%-1.6%2.5%4.5%16.5%
Other income79 Cr58 Cr-4 Cr7 Cr266 Cr9 Cr279 Cr9 Cr25 Cr8 Cr13 Cr5 Cr
Interest42 Cr14 Cr43 Cr32 Cr37 Cr38 Cr14 Cr10 Cr12 Cr11 Cr17 Cr12 Cr
Depreciation0.89 Cr14 Cr47 Cr14 Cr8 Cr28 Cr4 Cr3 Cr3 Cr3 Cr3 Cr8 Cr
Profit before tax56 Cr96 Cr-120 Cr102 Cr128 Cr-0.83 Cr-63 Cr23 Cr12 Cr15 Cr16 Cr44 Cr
Tax %9.6%2.9%14.8%29.7%9.3%-799.9%6.4%17.3%12.3%9.1%12.9%11.9%
Net profit50 Cr93 Cr-102 Cr71 Cr117 Cr-7 Cr-59 Cr19 Cr11 Cr14 Cr14 Cr39 Cr
EPS (₹)₹0.21₹0.42₹-0.66₹0.13₹0.42₹-0.03₹-0.35₹0.08₹0.05₹0.06₹0.08₹0.17

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales893 Cr1,007 Cr1,177 Cr1,686 Cr1,731 Cr524 CrSign in free for the trailing twelve months
Operating expenses (approx.)853 Cr892 Cr1,126 Cr1,549 Cr1,957 Cr505 CrSign in free for the trailing twelve months
EBITDA40 Cr115 Cr51 Cr137 Cr-225 Cr19 CrSign in free for the trailing twelve months
OPM %4.5%11.4%4.3%8.1%-13.0%3.7%Sign in free for the trailing twelve months
Other income68 Cr45 Cr158 Cr150 Cr562 Cr56 CrSign in free for the trailing twelve months
Interest152 Cr169 Cr161 Cr143 Cr121 Cr50 CrSign in free for the trailing twelve months
Depreciation36 Cr32 Cr31 Cr68 Cr55 Cr13 CrSign in free for the trailing twelve months
Profit before tax-67 Cr-39 Cr17 Cr77 Cr166 Cr66 CrSign in free for the trailing twelve months
Tax %-22.5%-36.2%120.9%7.6%26.9%13.4%Sign in free for the trailing twelve months
Net profit-82 Cr-53 Cr-3 Cr71 Cr122 Cr57 CrSign in free for the trailing twelve months
EPS (₹)₹-15.98₹-1.03₹-0.02₹0.37₹0.17₹0.27Sign in free for the trailing twelve months
Dividend payout %———0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital51 Cr51 Cr154 Cr154 Cr154 Cr154 Cr
Reserves1,134 Cr1,131 Cr1,178 Cr1,342 Cr1,454 Cr1,599 Cr
Borrowings1,191 Cr1,284 Cr1,637 Cr1,016 Cr371 Cr458 Cr
Other liabilities1,664 Cr1,694 Cr1,501 Cr1,466 Cr212 Cr166 Cr
Total liabilities4,504 Cr4,621 Cr4,992 Cr4,657 Cr2,730 Cr2,884 Cr
Fixed assets (net)3,073 Cr3,147 Cr3,426 Cr3,458 Cr56 Cr48 Cr
CWIP0 Cr1 Cr0.0089 Cr0 Cr0.49 Cr1 Cr
Investments292 Cr242 Cr183 Cr197 Cr1,928 Cr2,011 Cr
Loans & advances65 Cr84 Cr173 Cr191 Cr273 Cr335 Cr
Inventories40 Cr48 Cr60 Cr74 Cr8 Cr13 Cr
Trade receivables298 Cr373 Cr390 Cr348 Cr345 Cr330 Cr
Cash & bank24 Cr17 Cr38 Cr106 Cr22 Cr9 Cr
Other assets712 Cr709 Cr722 Cr283 Cr97 Cr136 Cr
Total assets4,504 Cr4,621 Cr4,992 Cr4,657 Cr2,730 Cr2,884 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-51 Cr129 Cr-108 Cr685 Cr-51 Cr43 Cr
Cash from investing12 Cr-9 Cr152 Cr73 Cr473 Cr-64 Cr
Cash from financing36 Cr-127 Cr-23 Cr-688 Cr-408 Cr8 Cr
Net cash flow-4 Cr-7 Cr21 Cr69 Cr15 Cr-13 Cr
Free cash flow (OCF − Capex)-75 Cr95 Cr-159 Cr685 Cr-80 Cr37 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %3.0%4.5%5.1%6.9%11.4%4.3%
ROE %-5.0%-3.2%-0.2%3.3%5.7%2.5%
Debtor days1211351217573229
Inventory days24272827315
Days payable528163801831
Cash conversion cycle9381862358213
OCF / EBITDA %-128.0%112.8%-213.1%499.2%—224.0%
OCF / EBITDA % (3 years)——-14.6%233.5%——
Debt / equity1.001.091.230.680.230.26
Current ratio0.690.760.661.262.184.84
Net debt / EBITDA29.0311.0531.556.63—23.20