SMLT

Sarthak Metals Limited

Steelmaking and welding consumables and industrial enzymes producer

Industrials›Capital Goods›Industrial Products›Iron & Steel Products

sarthakmetals.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹75.10
Market cap
103 Cr
Stock P/E
21.1
P/B
0.83
Dividend yield
0.7%
ROE (FY26)
3.7%
ROCE (FY26)
5.4%
Operating margin (FY26)
2.6%
Debt / equity (FY26)
0.05
OCF / EBITDA (FY26)
-412.1%
OCF / EBITDA (3Y)
-17.1%

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

Sarthak Metals (SMLT) makes cored wires, aluminium flipping coils and flux-cored welding wire, selling to steel plants, fabrication units and foundries.

Company snapshot

61stBy market cap

Ranked among 64 companies in Iron & Steel Products.

What we see

Positives
  • ✓Debt-to-equity of 0.05x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is very thin at 2.4% — little room for error if costs rise.
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Statement tables · Standalone

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

Standalone only

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
Sales77 Cr75 Cr71 Cr41 Cr46 Cr44 Cr48 Cr46 Cr36 Cr48 Cr62 Cr55 Cr
Operating expenses (approx.)70 Cr73 Cr68 Cr39 Cr44 Cr42 Cr47 Cr44 Cr35 Cr46 Cr59 Cr54 Cr
EBITDA7 Cr2 Cr3 Cr2 Cr2 Cr2 Cr1 Cr2 Cr2 Cr2 Cr3 Cr2 Cr
OPM %9.3%3.3%3.7%4.0%4.2%4.7%2.8%3.8%4.5%4.4%4.0%2.8%
Other income0.46 Cr0.69 Cr0.54 Cr0.59 Cr0.74 Cr0.47 Cr0.90 Cr0.62 Cr0.17 Cr0.49 Cr0.65 Cr1 Cr
Interest0.10 Cr0.33 Cr0.24 Cr0.12 Cr0.18 Cr0.09 Cr0.25 Cr0.12 Cr0.07 Cr0.05 Cr0.25 Cr0.26 Cr
Depreciation0.44 Cr0.54 Cr0.63 Cr0.53 Cr0.61 Cr0.79 Cr0.81 Cr0.69 Cr0.72 Cr0.75 Cr0.75 Cr0.62 Cr
Profit before tax7 Cr2 Cr2 Cr2 Cr2 Cr2 Cr1 Cr2 Cr1 Cr2 Cr2 Cr2 Cr
Tax %22.6%24.0%25.1%10.0%56.0%25.7%44.3%32.2%26.0%27.6%31.0%35.9%
Net profit6 Cr2 Cr2 Cr1 Cr0.83 Cr1 Cr0.67 Cr1 Cr0.76 Cr1 Cr1 Cr1 Cr
EPS (₹)₹4.05₹1.27₹1.28₹0.99₹0.61₹0.92₹0.49₹0.77₹0.57₹0.95₹1.09₹0.97

Profit & loss (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales152 Cr171 Cr189 Cr214 Cr222 Cr457 Cr408 Cr305 Cr178 Cr192 CrSign in free for the trailing twelve months
Operating expenses (approx.)144 Cr161 Cr178 Cr203 Cr206 Cr419 Cr368 Cr285 Cr171 Cr184 CrSign in free for the trailing twelve months
EBITDA9 Cr10 Cr12 Cr11 Cr16 Cr38 Cr40 Cr20 Cr7 Cr8 CrSign in free for the trailing twelve months
OPM %5.6%6.0%6.1%5.2%7.1%8.3%9.8%6.5%3.9%4.1%Sign in free for the trailing twelve months
Other income2 Cr2 Cr2 Cr1 Cr0.52 Cr0.96 Cr4 Cr2 Cr3 Cr2 CrSign in free for the trailing twelve months
Interest3 Cr3 Cr3 Cr4 Cr3 Cr4 Cr1 Cr0.78 Cr0.64 Cr0.49 CrSign in free for the trailing twelve months
Depreciation1 Cr1 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr3 Cr3 CrSign in free for the trailing twelve months
Profit before tax6 Cr7 Cr8 Cr6 Cr11 Cr36 Cr40 Cr19 Cr6 Cr7 CrSign in free for the trailing twelve months
Tax %33.6%32.3%28.4%27.9%25.8%23.3%26.0%27.1%34.4%29.6%Sign in free for the trailing twelve months
Net profit4 Cr5 Cr6 Cr5 Cr8 Cr27 Cr30 Cr14 Cr4 Cr5 CrSign in free for the trailing twelve months
EPS (₹)₹2.89₹3.47₹4.21₹3.38₹5.82₹20.03₹21.74₹10.10₹3.01₹3.37Sign in free for the trailing twelve months
Dividend payout %————8.6%10.0%9.2%19.8%0.0%14.8%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 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr
Reserves19 Cr23 Cr29 Cr32 Cr40 Cr64 Cr91 Cr102 Cr107 Cr111 Cr
Borrowings27 Cr26 Cr———22 Cr———7 Cr
Other liabilities3 Cr3 Cr41 Cr30 Cr38 Cr16 Cr5 Cr4 Cr4 Cr6 Cr
Total liabilities63 Cr65 Cr84 Cr76 Cr91 Cr116 Cr110 Cr120 Cr124 Cr137 Cr
Fixed assets (net)7 Cr9 Cr14 Cr15 Cr14 Cr11 Cr11 Cr15 Cr19 Cr17 Cr
CWIP2 Cr0.57 Cr————2 Cr0.18 Cr0.33 Cr0.47 Cr
Investments0.75 Cr0.75 Cr0.75 Cr0.75 Cr0.75 Cr0.75 Cr0 Cr0 Cr0 Cr0 Cr
Inventories10 Cr16 Cr26 Cr22 Cr30 Cr28 Cr15 Cr20 Cr27 Cr39 Cr
Trade receivables30 Cr29 Cr23 Cr28 Cr38 Cr57 Cr53 Cr40 Cr42 Cr57 Cr
Cash & bank9 Cr2 Cr4 Cr1 Cr3 Cr6 Cr7 Cr16 Cr2 Cr0.07 Cr
Other assets4 Cr9 Cr16 Cr10 Cr5 Cr13 Cr22 Cr28 Cr32 Cr23 Cr
Total assets63 Cr65 Cr84 Cr76 Cr91 Cr116 Cr110 Cr120 Cr124 Cr137 Cr

Cash flows

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity4 Cr0.04 Cr1 Cr17 Cr-0.56 Cr16 Cr35 Cr27 Cr-0.19 Cr-33 Cr
Cash from investing-2 Cr-2 Cr-6 Cr-3 Cr-1 Cr3 Cr-2 Cr-3 Cr-6 Cr-2 Cr
Cash from financing5 Cr-6 Cr7 Cr-17 Cr4 Cr-15 Cr-26 Cr-3 Cr-0.40 Cr6 Cr
Net cash flow7 Cr-7 Cr2 Cr-2 Cr2 Cr4 Cr7 Cr20 Cr-6 Cr-29 Cr
Free cash flow (OCF − Capex)2 Cr-2 Cr-10 Cr14 Cr-2 Cr15 Cr32 Cr22 Cr-7 Cr-33 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %15.6%16.8%27.2%21.7%26.3%39.7%39.6%17.0%5.8%5.4%
ROE %12.1%13.0%13.6%10.0%14.9%35.3%28.3%11.9%3.4%3.7%
Debtor days716245486345474887108
Inventory days29395845572716286895
Days payable12———101024
Cash conversion cycle999810293120626375152199
OCF / EBITDA %47.9%0.4%9.9%153.1%-3.6%43.4%87.2%135.0%-2.8%-412.1%
OCF / EBITDA % (3 years)——17.4%55.4%46.2%51.0%54.3%79.9%92.0%-17.1%
Debt / equity0.830.710.00710.00500.00580.29———0.05
Current ratio——1.792.102.472.9523.7339.9238.609.21
Net debt / EBITDA2.142.35-0.31-0.11-0.220.42-0.18-0.82-0.340.83