WEBSITE BSE:531191 NSE: FILTRON ENG. Inc. Year: 1982 Industry: Engineering - Industrial Equipments My Bucket: Add Stock
Last updated: 10:23
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1. Business Overview
Filtron Engineers Ltd. operates in the industrial equipment sector, specializing in engineering solutions. As suggested by its name, the company likely designs, manufactures, supplies, and services industrial filtration systems and related process equipment. Their core business model revolves around providing customized engineering solutions and products to various industrial clients. They make money through the sale of their manufactured equipment, spare parts, and potentially through project execution, installation, and after-sales service contracts for their industrial clientele.
2. Key Segments / Revenue Mix
Specific segment breakdown and revenue contribution are not publicly available from the given information. However, based on its industry and name, potential key segments could include:
Filtration & Separation Systems: Design and manufacturing of various filters, strainers, separators for different industrial applications.
Process Equipment: Other related industrial equipment for material handling, fluid management, or specific process stages.
Aftermarket & Services: Revenue from spare parts, maintenance, upgrades, and technical support.
Their revenue mix likely leans towards project-based sales of equipment to industries requiring specific process solutions.
3. Industry & Positioning
The Indian Engineering - Industrial Equipments sector is diverse, often characterized by a mix of large integrated players, mid-sized specialists, and numerous small-scale manufacturers. It is generally competitive, driven by industrial capital expenditure cycles, infrastructure development, and manufacturing growth. Filtron Engineers Ltd. likely positions itself as a specialized provider, potentially focusing on niche applications within filtration or specific industries. Its positioning would depend on its technical expertise, product quality, client relationships, and ability to offer tailored solutions compared to more generalized or international competitors.
4. Competitive Advantage (Moat)
Filtron Engineers Ltd. may possess competitive advantages through:
Specialized Expertise: Deep technical knowledge in specific industrial processes, particularly filtration, allowing them to offer customized and efficient solutions.
Established Client Relationships: Long-term relationships with industrial clients built on reliability and performance.
Switching Costs: Once integrated into a client's critical process, replacing specialized equipment and suppliers can be costly and disruptive, creating a degree of stickiness.
Quality & Reliability: A reputation for manufacturing robust and reliable industrial equipment can be a significant advantage in a sector where downtime is costly.
5. Growth Drivers
Key factors that can drive growth for Filtron Engineers Ltd. over the next 3-5 years include:
Industrial Capital Expenditure (Capex): Increased investment across manufacturing, infrastructure, and processing industries in India will drive demand for industrial equipment.
"Make in India" Initiative: Government focus on boosting domestic manufacturing could lead to higher demand for locally produced industrial equipment.
Environmental Regulations: Stricter environmental norms for industrial emissions and waste treatment often necessitate advanced filtration and separation technologies.
Process Optimization & Efficiency: Industries continuously seek to improve efficiency and reduce operational costs, driving demand for modern, energy-efficient equipment.
Sector Diversification: Expansion into new industrial sectors or geographical regions within India.
6. Risks
Key business risks for Filtron Engineers Ltd. include:
Economic Cyclicality: The industrial equipment sector is highly sensitive to economic cycles and industrial capital expenditure, which can be volatile.
Intense Competition: The presence of both domestic and international players can lead to pricing pressures and margin erosion.
Raw Material Price Volatility: Fluctuations in steel, metals, and other commodity prices can impact manufacturing costs and profitability.
Project Execution Risk: Delays or cost overruns in large projects can negatively impact financials and reputation.
Technological Obsolescence: Failure to innovate or keep pace with evolving industrial technologies and efficiency standards could impact competitiveness.
Dependency on Key Clients/Sectors: Over-reliance on a few large clients or specific industrial sectors can pose concentration risk.
7. Management & Ownership
Filtron Engineers Ltd., being an Indian company with a ticker, is likely publicly listed but often promoter-driven. In many Indian companies, the promoter group (founding family or individuals) holds a significant stake and plays a crucial role in management and strategic direction. The quality of management would depend on their experience in the engineering sector, ability to innovate, manage projects efficiently, and navigate market cycles. Ownership structure typically involves the promoter group, institutional investors, and public shareholders.
8. Outlook
Filtron Engineers Ltd. operates in an essential segment of the industrial economy. The bull case for the company hinges on India's continued industrialization, increased capital expenditure across various manufacturing sectors, and potentially stricter environmental regulations driving demand for specialized filtration and process equipment. Its niche expertise and established client base could allow it to capture a share of this growth. However, the bear case involves the cyclical nature of industrial demand, intense competition from larger domestic and international players, and potential challenges in raw material price management or project execution. The company's ability to maintain technological relevance, diversify its client base, and efficiently manage its order book will be crucial for sustained performance.
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Market Cap ₹571 Cr.
Stock P/E -1907
P/B 10.1
Current Price ₹89.9
Book Value ₹ 8.9
Face Value 10
52W High ₹106.4
Dividend Yield 0%
52W Low ₹ 7
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 | -0 | -0 | -0 | -0 | -0 | 0 | -0 | -0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 | -0 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | -0 | -0 |
| Adjusted Earnings Per Share | -1.2 | -0.3 | -0.3 | -0.8 | -0.4 | -0.8 | -0 | 0.2 | -0.3 | -0.4 |
| #(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 | 3 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 1 | 0 | 0 | 2 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Total Income | 4 | 1 | 0 | 2 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Total Expenditure | 4 | 2 | 1 | 2 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 |
| Operating Profit | 0 | -1 | -1 | -0 | 1 | -0 | -0 | 1 | -1 | -0 | -0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | -1 | -1 | -1 | 1 | -0 | -0 | 0 | -1 | -0 | -0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Tax | -1 | -1 | -1 | -1 | 1 | -0 | -0 | 0 | -1 | -0 | -0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -1 | -1 | -1 | -1 | 1 | -0 | -0 | 0 | -1 | -0 | -0 | 0 |
| Adjusted Earnings Per Share | -4 | -5 | -4.8 | -3.4 | 2.5 | -0.7 | -1 | 1.9 | -1.9 | -1.3 | -1.1 | -0.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | -100% |
| Operating Profit CAGR | 0% | -100% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | 30% |
| ROE Average | 0% | 0% | 0% | -19% |
| ROCE Average | 0% | 0% | 0% | -23% |
| #(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 | 5 | 4 | 3 | -4 | -3 | -3 | -3 | -3 | -3 | -4 | -4 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 1 | 1 | 1 | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 6 | 5 | 6 | 6 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Total Liabilities | 12 | 10 | 10 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
| Fixed Assets | 6 | 5 | 5 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
| Other Non-Current Assets | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 5 | 4 | 4 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Total Assets | 12 | 10 | 10 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 |
| #(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 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -0 | 1 | -0 | -1 | 1 | -0 | -0 | -0 | -1 | -0 | -1 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Cash Flow from Financing Activities | 0 | -1 | 0 | 0 | -1 | -0 | 0 | 0 | 1 | 0 | 1 |
| Net Cash Inflow / Outflow | 0 | -1 | 0 | -0 | -0 | 0 | -0 | 0 | -0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | 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) | -4.03 | -4.98 | -4.76 | -3.36 | 2.55 | -0.71 | -0.98 | 1.85 | -1.95 | -1.33 | -1.14 |
| CEPS(Rs) | -3.19 | -4.15 | -4.05 | -2.59 | 3.23 | -0.03 | -0.29 | 2.36 | -1.45 | -0.84 | -0.65 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 5.67 | 0.68 | -4.08 | -13.73 | -11.18 | -11.9 | -12.87 | -11.02 | -12.97 | -14.3 | -15.44 |
| Core EBITDA Margin(%) | -18.06 | -93.98 | -3310.8 | -1065.25 | 0 | 0 | 0 | 0 | 0 | 0 | -158.97 |
| EBIT Margin(%) | -17.01 | -115.92 | -3873.7 | -328.51 | 0 | 0 | 0 | 0 | 0 | 0 | -119.78 |
| Pre Tax Margin(%) | -27.94 | -140.85 | -3978.13 | -330.53 | 0 | 0 | 0 | 0 | 0 | 0 | -119.83 |
| PAT Margin (%) | -27.94 | -140.85 | -3978.13 | -430.06 | 0 | 0 | 0 | 0 | 0 | 0 | -119.83 |
| Cash Profit Margin (%) | -22.13 | -117.3 | -3386.08 | -332.2 | 0 | 0 | 0 | 0 | 0 | 0 | -68.41 |
| ROA(%) | -10.18 | -11.8 | -12.49 | -14.49 | 30.02 | -9.18 | -13.57 | 28.22 | -34.7 | -27.82 | -25.41 |
| ROE(%) | -51.51 | -157.07 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | -13.11 | -29.45 | -60.59 | -147.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivable days | 221.7 | 893.44 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | 83.74 | 367.86 | 0 | 1210.92 | 0 | 0 | 0 | 0 | 0 | 0 | 322.86 |
| Payable days | 459.56 | 2213.16 | 0 | 1754.21 | 0 | 0 | 0 | 0 | 1795.2 | 0 | 0 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 1.78 | 9.43 | -2.32 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.45 | 4.55 | 154.16 | 27.61 | 0 | 0 | 0 | 0 | 0 | 0 | 25.99 |
| EV/Core EBITDA(x) | 52.69 | -4.48 | -4.7 | -11.97 | 5.82 | -760.43 | -65.43 | 8.06 | -10.97 | -26.85 | -38.01 |
| Net Sales Growth(%) | -50.08 | -75.9 | -96.28 | 551.63 | -100 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT Growth(%) | -252.62 | -67.36 | -13.07 | 44.74 | 199.35 | -127.97 | -37.13 | 294.01 | -229.03 | 45.66 | 13.87 |
| PAT Growth(%) | 0 | -23.81 | 4.43 | 29.56 | 175.89 | -128.03 | -36.85 | 289.45 | -205.12 | 31.66 | 13.89 |
| EPS Growth(%) | 0 | -23.81 | 4.43 | 29.56 | 175.89 | -128.03 | -36.85 | 289.45 | -205.12 | 31.66 | 13.89 |
| Debt/Equity(x) | 1.83 | 5.71 | -2.7 | -0.84 | -0.79 | -0.74 | -0.69 | -0.85 | -0.88 | -0.87 | -0.96 |
| Current Ratio(x) | 0.86 | 0.68 | 0.63 | 0.09 | 0.15 | 0.16 | 0.16 | 0.19 | 0.1 | 0.1 | 0.11 |
| Quick Ratio(x) | 0.7 | 0.51 | 0.47 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.02 | 0.03 | 0.04 |
| Interest Cover(x) | -1.56 | -4.65 | -37.09 | -162.63 | 0 | -466.89 | -7099.5 | 42.78 | -1390.87 | -1704.35 | -2474.79 |
| Total Debt/Mcap(x) | 1.17 | 1.28 | 0.95 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 61.25 | 61.25 | 61.25 | 61.25 | 61.25 | 61.25 | 61.25 | 61.21 | 2.51 | 2.29 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 38.75 | 38.75 | 38.75 | 38.75 | 38.75 | 38.75 | 38.75 | 38.79 | 97.49 | 97.71 |
| 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 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.15 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 6.19 | 6.21 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 6.35 | 6.35 |
* The pros and cons are machine generated.
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