WEBSITE BSE:538563 NSE: SMTEL Inc. Year: 1984 Industry: Trading My Bucket: Add Stock
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SMT Engineering Ltd (formerly Adarsh Mercantile Ltd) is a small-cap Indian company based in Kolkata. The company operates in a diversified manner, combining trading and investments with manufacturing through its subsidiary, mainly in plastic-processing machinery. In June 2025, the company changed its name to SMT Engineering Ltd, signaling a shift toward engineering and manufacturing. Recent financials (Q2 FY25‑26) show a sharp rise in revenue and profit, indicating business growth or operational changes. Promoters hold a majority stake (~74...Read More
SMT Engineering Ltd (formerly Adarsh Mercantile Ltd) is a small-cap Indian company based in Kolkata. The company operates in a diversified manner, combining trading and investments with manufacturing through its subsidiary, mainly in plastic-processing machinery. In June 2025, the company changed its name to SMT Engineering Ltd, signaling a shift toward engineering and manufacturing. Recent financials (Q2 FY25‑26) show a sharp rise in revenue and profit, indicating business growth or operational changes. Promoters hold a majority stake (~74%), and the company remains listed on the Bombay Stock Exchange. Being a small-cap with low trading volumes, it is relatively high-risk but could offer high returns if the growth sustains. Key points: Diversified operations: trading, investments, manufacturing. Recent name change reflecting business shift. Sharp revenue and profit growth in 2025. Small-cap, majority promoter-owned, high-risk investment. ...Read Less
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Market Cap ₹773 Cr.
Stock P/E 329.8
P/B 7.1
Current Price ₹428.1
Book Value ₹ 60.2
Face Value 10
52W High ₹494.9
Dividend Yield 0%
52W Low ₹ 12.4
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 3 | 0 | 0 | 0 | 20 | 27 | 34 | 27 |
| Other Income | 0 | 0 | -2 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 1 | 0 | 0 | 0 | 20 | 27 | 34 | 27 |
| Total Expenditure | 0 | -0 | 5 | 0 | 0 | 0 | 17 | 23 | 25 | 21 |
| Operating Profit | 0 | 0 | -4 | 0 | 0 | 0 | 3 | 4 | 10 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | -4 | 0 | 0 | 0 | 3 | 3 | 9 | 4 |
| Provision for Tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit After Tax | 0 | 0 | -4 | 0 | 0 | 0 | 3 | 2 | 6 | 2 |
| Adjustments | 0 | 0 | -1 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | 0 | -5 | 0 | 0 | 0 | 3 | 2 | 6 | 2 |
| Adjusted Earnings Per Share | 1.4 | 1.1 | -12.7 | 0.3 | 0.4 | 0.1 | 1.6 | 1.4 | 3.8 | 1.4 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 0 | 3 | 21 | 108 |
| Other Income | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Total Income | 2 | 0 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 3 | 21 | 108 |
| Total Expenditure | 2 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 5 | 18 | 86 |
| Operating Profit | 0 | 0 | 0 | 1 | 0 | -0 | 0 | 0 | 0 | -2 | 3 | 23 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | -0 | 1 | 0 | -0 | -0 | -0 | -0 | -2 | 3 | 19 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 5 |
| Profit After Tax | 0 | 0 | -0 | 1 | -0 | -0 | -0 | -0 | -0 | -2 | 2 | 13 |
| Adjustments | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | -0 | 1 | -0 | -0 | -0 | 0 | -0 | -2 | 2 | 13 |
| Adjusted Earnings Per Share | 0.1 | 0 | -0 | 1.7 | -0 | -0.7 | -0.6 | 0.1 | -0.7 | -4.6 | 1.5 | 8.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 600% | 176% | 0% | 36% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 3518% | NA% | 135% | 58% |
| ROE Average | 7% | -7% | -5% | -2% |
| ROCE Average | 5% | -4% | -2% | 0% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 6 | 6 | 7 | 8 | 7 | 6 | 7 | 7 | 7 | 8 | 63 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Total Current Liabilities | 1 | 1 | 2 | 1 | 3 | 4 | 4 | 4 | 4 | 0 | 88 |
| Total Liabilities | 6 | 7 | 9 | 9 | 11 | 10 | 11 | 11 | 12 | 8 | 168 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18 |
| Other Non-Current Assets | 4 | 4 | 6 | 8 | 8 | 9 | 9 | 9 | 10 | 4 | 10 |
| Total Current Assets | 2 | 3 | 2 | 1 | 3 | 2 | 2 | 2 | 2 | 3 | 139 |
| Total Assets | 6 | 7 | 9 | 9 | 11 | 10 | 11 | 11 | 12 | 8 | 168 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 3 |
| Cash Flow from Operating Activities | -1 | -0 | -0 | -0 | -1 | -0 | 1 | -0 | -0 | -8 | -31 |
| Cash Flow from Investing Activities | 1 | -0 | 0 | 1 | -1 | 0 | -1 | -0 | 0 | 13 | 0 |
| Cash Flow from Financing Activities | -0 | 1 | -0 | -1 | 2 | 0 | -0 | 0 | -0 | -4 | 53 |
| Net Cash Inflow / Outflow | 0 | -0 | 0 | -0 | -0 | 0 | 0 | -0 | -0 | 1 | 22 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 1 | 25 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.11 | 0 | -0.04 | 1.72 | -0.03 | -0.69 | -0.59 | 0.12 | -0.75 | -4.57 | 1.49 |
| CEPS(Rs) | 0.03 | 0.01 | -0.07 | 1.45 | -0.07 | -0.61 | -0.35 | -0.25 | -0.8 | -4.66 | 1.42 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 15.48 | 15.48 | 19.12 | 20.94 | 19.81 | 17.47 | 18.6 | 19.66 | 19.62 | 20.61 | 38.03 |
| Core EBITDA Margin(%) | -48.56 | -20.08 | -36.33 | -1.32 | -35.59 | -70.03 | -17.64 | -3.77 | -82.53 | -86.15 | 12.13 |
| EBIT Margin(%) | 8.4 | 22.34 | 26.57 | 70.81 | 33.94 | -7.11 | -1.65 | 9.14 | 5.45 | -63.24 | 13.12 |
| Pre Tax Margin(%) | 0.77 | 2.46 | -2.29 | 59.13 | 0.21 | -49.58 | -24.83 | -16.13 | -84.41 | -72.42 | 12.86 |
| PAT Margin (%) | 0.72 | 0.89 | -4.51 | 48.12 | -4.72 | -49.58 | -24.96 | -16.17 | -128.96 | -67.78 | 11.16 |
| Cash Profit Margin (%) | 0.72 | 0.89 | -4.51 | 48.12 | -4.72 | -49.58 | -13.58 | -10.59 | -111.16 | -66.86 | 11.17 |
| ROA(%) | 0.15 | 0.05 | -0.32 | 6.05 | -0.25 | -2.16 | -2.24 | -1.26 | -3.01 | -17.92 | 2.67 |
| ROE(%) | 0.16 | 0.05 | -0.4 | 7.24 | -0.33 | -3.26 | -3.55 | -1.97 | -4.72 | -23.5 | 6.66 |
| ROCE(%) | 1.75 | 1.18 | 1.94 | 9.19 | 1.85 | -0.32 | -0.16 | 0.75 | 0.13 | -17.58 | 4.55 |
| Receivable days | 0 | 0.06 | 4.28 | 9.01 | 86.27 | 173.8 | 214.47 | 0 | 363.63 | 182.81 | 205.7 |
| Inventory Days | 42.27 | 146.46 | 87.99 | 88.14 | 268.88 | 229.64 | 101.24 | 157.25 | 534.48 | 26.14 | 583.59 |
| Payable days | 0 | 0 | 0 | 18.06 | 83.53 | 126.6 | 252.85 | 0 | 300.83 | 163.36 | 258.87 |
| PER(x) | 0 | 0 | 0 | 3.12 | 0 | 0 | 0 | 0 | 0 | 0 | 6.85 |
| Price/Book(x) | 0 | 0 | 0 | 0.26 | 0 | 0 | 0 | 0 | 0 | 0.34 | 0.27 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 3.2 | 14.37 | 8.78 | 2.66 | 12.95 | 15.2 | 7.16 | 8.53 | 27.67 | 0.6 | 2.03 |
| EV/Core EBITDA(x) | 38.05 | 64.32 | 33.05 | 3.75 | 38.14 | -213.84 | 73.57 | 57.95 | 119.05 | -0.97 | 15.69 |
| Net Sales Growth(%) | 0 | -72.86 | 60.85 | 96.54 | -53.11 | -13.1 | 109.27 | -9.06 | -69.24 | 870.38 | 720.23 |
| EBIT Growth(%) | 0 | -27.8 | 91.35 | 423.69 | -77.52 | -118.21 | 51.39 | 603.27 | -81.66 | 0 | 270.18 |
| PAT Growth(%) | 0 | -66.41 | -914.27 | 2196.38 | -104.6 | -813.62 | -5.35 | 41.08 | -145.33 | -410.04 | 235.02 |
| EPS Growth(%) | 0 | -98.35 | -1973.68 | 4932.87 | -101.58 | -2426.84 | 13.92 | 121.03 | -702.41 | -509.59 | 132.68 |
| Debt/Equity(x) | 0.09 | 0.24 | 0.19 | 0.13 | 0.42 | 0.52 | 0.46 | 0.51 | 0.51 | 0 | 0.81 |
| Current Ratio(x) | 3.63 | 2.2 | 1.6 | 1.06 | 0.76 | 0.43 | 0.52 | 0.48 | 0.48 | 12.01 | 1.58 |
| Quick Ratio(x) | 3.4 | 2.11 | 1.51 | 0.77 | 0.65 | 0.38 | 0.44 | 0.37 | 0.39 | 11.98 | 0.82 |
| Interest Cover(x) | 1.1 | 1.12 | 0.92 | 6.06 | 1.01 | -0.17 | -0.07 | 0.36 | 0.06 | -6.89 | 49.6 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0.51 | 0 | 0 | 0 | 0 | 0 | 0 | 13.54 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.86 | 74.86 | 74.86 | 74.86 | 74.86 | 0.37 | 73.77 | 73.77 | 73.77 | 67.44 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.14 | 25.14 | 25.14 | 25.14 | 25.14 | 99.63 | 26.23 | 26.23 | 26.23 | 32.56 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.01 | 1.22 | 1.22 | 1.22 | 1.22 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 1.65 | 0.43 | 0.43 | 0.43 | 0.59 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 1.65 | 1.65 | 1.65 | 1.65 | 1.81 |
* The pros and cons are machine generated.
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