WEBSITE BSE:526117 NSE: SHERVANI IND Inc. Year: 1948 Industry: Construction - Real Estate My Bucket: Add Stock
Last updated: 11:21
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1. Business Overview
Shervani Industrial Syndicate Ltd. operates in the Construction - Real Estate sector in India. Based on its industry classification, the company is primarily involved in activities related to property development, construction, and possibly infrastructure projects. This typically includes acquiring land, planning and designing properties (residential, commercial, or mixed-use), constructing buildings, and then selling or leasing these developed properties to generate revenue. Its core business model likely revolves around project-based development and sales, and potentially rental income from owned properties.
2. Key Segments / Revenue Mix
Specific details regarding the company's key business segments or revenue mix are not publicly available from the provided information. However, typical segments for companies in the Construction - Real Estate industry in India often include residential development, commercial development (offices, retail), and sometimes land bank monetization or infrastructure construction. Shervani Industrial Syndicate's specific revenue contribution from these potential segments is not disclosed.
3. Industry & Positioning
The Indian real estate and construction industry is large, fragmented, and highly competitive, characterized by numerous regional and national players. It is also cyclical, influenced by macroeconomic factors like interest rates, government policies, and consumer sentiment. Without specific market share or project details, Shervani Industrial Syndicate Ltd. is likely positioned as a smaller to mid-sized player within this competitive landscape, possibly focusing on specific regions or niche segments within India. Its positioning relative to larger, more diversified national developers would typically be as a localized or specialized entity.
4. Competitive Advantage (Moat)
For a company of this nature, strong, broad-based competitive advantages (moats) like powerful brands, proprietary technology, or extensive network effects are uncommon. Any potential advantages for Shervani Industrial Syndicate Ltd. would likely be localized, such as a strong understanding of specific regional markets, an established reputation with local customers or authorities, a valuable land bank in desirable locations, or efficient project execution capabilities. However, these are often not considered durable, wide moats in the traditional sense and are subject to intense competition.
5. Growth Drivers
Key factors that could drive growth for Shervani Industrial Syndicate Ltd. over the next 3-5 years include:
Urbanization and Population Growth: Continued migration to urban centers drives demand for housing and commercial spaces.
Government Infrastructure Spending: Public investment in infrastructure often stimulates real estate development.
Affordability & Favorable Interest Rates: Improved affordability and lower home loan interest rates can boost property sales.
Economic Growth: A growing Indian economy generally translates to increased disposable income and investment in real estate.
Regulatory Reforms: Policy support, such as RERA implementation bringing transparency, can improve buyer confidence.
6. Risks
Key business risks for the company include:
Cyclicality of Real Estate: The industry is prone to boom-bust cycles, impacting demand and pricing.
Interest Rate Sensitivity: Higher interest rates can increase borrowing costs for the company and reduce affordability for buyers.
Regulatory and Environmental Risks: Changes in land acquisition laws, building codes, or environmental regulations can cause project delays or cost overruns.
Funding and Liquidity Risks: Access to capital and timely project financing are crucial; any tight liquidity environment can be challenging.
Project Execution Risks: Delays in obtaining approvals, construction delays, or cost overruns can impact profitability.
Intense Competition: The fragmented nature of the industry leads to significant competition, potentially impacting margins.
7. Management & Ownership
Specific details regarding the promoters, management quality, or ownership structure are not provided. However, many Indian companies, especially those not among the very largest, are promoter-driven, where the founding family or individuals hold a significant stake and play an active role in management. Without further information, it is not possible to assess management quality, experience, or corporate governance practices.
8. Outlook
Shervani Industrial Syndicate Ltd. operates in a sector with significant long-term growth potential in India, driven by demographic trends and economic expansion. The ongoing urbanization and demand for quality infrastructure and housing provide a favorable macro environment. However, the real estate industry is inherently cyclical, capital-intensive, and susceptible to various risks, including economic downturns, rising interest rates, and regulatory uncertainties. The company's future performance will depend heavily on its ability to effectively acquire land, execute projects efficiently, manage its debt, and navigate the competitive and regulatory landscape, particularly within its specific operational focus areas.
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Market Cap ₹81 Cr.
Stock P/E 21.3
P/B 0.7
Current Price ₹316.1
Book Value ₹ 426
Face Value 10
52W High ₹569.9
Dividend Yield 0.95%
52W Low ₹ 297.4
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 | 30 | 13 | 26 | 11 | 20 | 12 | 6 | 9 | 3 | 7 |
| Other Income | 0 | 3 | 1 | 0 | 1 | 0 | 4 | 1 | 1 | 1 |
| Total Income | 31 | 16 | 26 | 11 | 20 | 12 | 10 | 10 | 4 | 8 |
| Total Expenditure | 23 | 11 | 26 | 10 | 18 | 11 | 7 | 9 | 4 | 6 |
| Operating Profit | 8 | 5 | 1 | 0 | 3 | 1 | 3 | 1 | 0 | 2 |
| 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 | 7 | 5 | 0 | -0 | 2 | 1 | 3 | 0 | -0 | 1 |
| Provision for Tax | 0 | 0 | 3 | 0 | 0 | 0 | 0 | 0 | -0 | 1 |
| Profit After Tax | 7 | 5 | -3 | -0 | 2 | 1 | 2 | 0 | -0 | 0 |
| Adjustments | -0 | 0 | -0 | 0 | -1 | -0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 7 | 5 | -3 | 0 | 1 | 1 | 2 | 0 | -0 | 0 |
| Adjusted Earnings Per Share | 26.4 | 18.5 | -10.2 | 0.6 | 4.5 | 2 | 7.8 | 1.3 | -1 | 0.1 |
| #(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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4 | 32 | 46 | 91 | 79 | 92 | 32 | 9 | 27 | 143 | 48 | 25 |
| Other Income | 2 | 1 | 2 | 2 | 3 | 1 | 2 | 1 | 1 | 4 | 5 | 7 |
| Total Income | 6 | 33 | 48 | 93 | 82 | 94 | 34 | 10 | 28 | 147 | 53 | 32 |
| Total Expenditure | 6 | 31 | 35 | 58 | 36 | 67 | 27 | 12 | 23 | 113 | 46 | 26 |
| Operating Profit | 0 | 2 | 13 | 35 | 46 | 26 | 7 | -2 | 5 | 34 | 7 | 6 |
| Interest | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 0 |
| Exceptional Income / Expenses | 0 | 1 | 4 | 0 | -3 | 0 | -1 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -1 | 2 | 16 | 34 | 42 | 25 | 5 | -3 | 24 | 34 | 5 | 4 |
| Provision for Tax | 0 | 0 | -0 | 9 | 8 | 5 | -2 | -0 | 1 | 3 | 1 | 1 |
| Profit After Tax | -1 | 1 | 16 | 25 | 34 | 20 | 7 | -3 | 24 | 31 | 4 | 2 |
| Adjustments | -1 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -2 | 2 | 16 | 25 | 34 | 20 | 7 | -3 | 24 | 31 | 4 | 2 |
| Adjusted Earnings Per Share | -5.1 | 5.4 | 48.7 | 80.8 | 109.3 | 73.8 | 24.7 | -10.3 | 87.5 | 119.9 | 14.9 | 8.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -66% | 75% | -12% | 28% |
| Operating Profit CAGR | -79% | 0% | -23% | 0% |
| PAT CAGR | -87% | 0% | -28% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -23% | -8% | 7% | 9% |
| ROE Average | 3% | 21% | 14% | 21% |
| ROCE Average | 3% | 20% | 13% | 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 | 188 | 190 | 197 | 174 | 153 | 133 | 133 | 129 | 145 | 153 | 150 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 1 | 19 | 50 |
| Other Non-Current Liabilities | 0 | 0 | -1 | -0 | 0 | 1 | 1 | 1 | 1 | -2 | -2 |
| Total Current Liabilities | 20 | 15 | 13 | 56 | 77 | 35 | 50 | 88 | 117 | 62 | 57 |
| Total Liabilities | 209 | 205 | 209 | 230 | 231 | 170 | 185 | 220 | 264 | 232 | 256 |
| Fixed Assets | 14 | 13 | 12 | 14 | 16 | 16 | 18 | 18 | 17 | 21 | 19 |
| Other Non-Current Assets | 4 | 4 | 7 | 7 | 6 | 6 | 4 | 6 | 27 | 31 | 53 |
| Total Current Assets | 191 | 188 | 190 | 209 | 209 | 148 | 163 | 196 | 220 | 179 | 183 |
| Total Assets | 209 | 205 | 209 | 230 | 231 | 170 | 185 | 220 | 264 | 232 | 256 |
| #(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 | 13 | 18 | 5 | 9 | 10 | 12 | 2 | 4 | 5 | 1 | 4 |
| Cash Flow from Operating Activities | -2 | 2 | 16 | 26 | 25 | -13 | 5 | 1 | 7 | -9 | 14 |
| Cash Flow from Investing Activities | 3 | 1 | -5 | -26 | 7 | 26 | -2 | -5 | -0 | -10 | -26 |
| Cash Flow from Financing Activities | 4 | -3 | -7 | 1 | -31 | -22 | -2 | 6 | -11 | 22 | 10 |
| Net Cash Inflow / Outflow | 5 | 0 | 4 | 1 | 2 | -9 | 1 | 2 | -4 | 3 | -2 |
| Closing Cash & Cash Equivalent | 18 | 18 | 9 | 10 | 12 | 2 | 4 | 5 | 1 | 4 | 3 |
| # | 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) | -5.08 | 5.35 | 48.66 | 80.85 | 109.3 | 73.78 | 24.67 | -10.27 | 87.5 | 119.89 | 14.87 |
| CEPS(Rs) | -1.27 | 5.62 | 49.46 | 82.39 | 110.58 | 76.4 | 27.42 | -6.98 | 90.94 | 123.71 | 20.74 |
| DPS(Rs) | 0 | 0 | 0 | 85 | 0 | 2.5 | 2.5 | 2 | 2.5 | 20 | 3 |
| Book NAV/Share(Rs) | 111.37 | 118.73 | 156.66 | 197.27 | 208.42 | 234.64 | 260.43 | 250.51 | 336.18 | 434.58 | 429.42 |
| Core EBITDA Margin(%) | -48.75 | 1.56 | 23.62 | 36.38 | 54.78 | 26.97 | 15.61 | -30.97 | 13.64 | 20.95 | 4.96 |
| EBIT Margin(%) | -12.18 | 6.45 | 34.28 | 37.83 | 54.07 | 27.64 | 15.59 | -30.36 | 92.18 | 23.75 | 10.75 |
| Pre Tax Margin(%) | -25.23 | 4.85 | 33.85 | 37.73 | 53.82 | 27.3 | 14.34 | -33.37 | 91.46 | 23.64 | 10 |
| PAT Margin (%) | -25.55 | 4.43 | 34.07 | 27.63 | 43.06 | 21.58 | 20.89 | -31.29 | 88.47 | 21.62 | 7.9 |
| Cash Profit Margin (%) | -10.98 | 5.78 | 34.99 | 28.16 | 43.88 | 22.35 | 23.22 | -21.29 | 91.96 | 22.31 | 11.03 |
| ROA(%) | -0.47 | 0.68 | 7.57 | 11.46 | 14.66 | 9.93 | 3.75 | -1.37 | 9.77 | 12.44 | 1.57 |
| ROE(%) | -2.59 | 3.75 | 34.97 | 44.77 | 53.5 | 31.06 | 9.97 | -4.02 | 29.83 | 30.45 | 3.44 |
| ROCE(%) | -1.01 | 4.37 | 32 | 57.28 | 60.45 | 36.07 | 6.87 | -3.48 | 28.67 | 28.75 | 3.41 |
| Receivable days | 25.48 | 69 | 141.18 | 48.6 | 7.65 | 6.94 | 14.46 | 80.4 | 34.01 | 6.17 | 11.59 |
| Inventory Days | 0 | 1819.61 | 1131 | 563.54 | 696.33 | 558.74 | 1558.74 | 6393.12 | 2487.37 | 433.46 | 1087.2 |
| Payable days | 0 | 33.59 | 4 | 3.65 | 19.07 | 10.81 | 23.59 | 164.22 | 36.13 | 9.99 | 23.93 |
| PER(x) | 0 | 26.36 | 3 | 6.71 | 5.55 | 2.89 | 9.15 | 0 | 4.06 | 4.38 | 23.36 |
| Price/Book(x) | 0.84 | 1.19 | 0.93 | 2.75 | 2.91 | 0.91 | 0.87 | 0.89 | 1.06 | 1.21 | 0.81 |
| Dividend Yield(%) | 0 | 0 | 0 | 15.66 | 0 | 1.17 | 1.11 | 0.9 | 0.7 | 3.81 | 0.86 |
| EV/Net Sales(x) | 6.06 | 1.12 | 0.6 | 1.43 | 1.99 | 0.54 | 1.57 | 6.1 | 3.06 | 1.06 | 2.3 |
| EV/Core EBITDA(x) | 253.04 | 21.1 | 2.17 | 3.74 | 3.37 | 1.91 | 7.33 | -32.27 | 16.24 | 4.44 | 15.51 |
| Net Sales Growth(%) | -2.05 | 740.68 | 45.28 | 97.82 | -13.86 | 17.58 | -65.46 | -72.22 | 201.46 | 434.2 | -66.09 |
| EBIT Growth(%) | -38.06 | 545.24 | 671.86 | 118.3 | 23.5 | -39.9 | -80.51 | -154.1 | 1015.38 | 37.62 | -84.65 |
| PAT Growth(%) | -99.74 | 245.79 | 1016.95 | 60.46 | 34.8 | -41.07 | -66.56 | -141.62 | 952.26 | 30.53 | -87.6 |
| EPS Growth(%) | -243.3 | 205.32 | 809.03 | 66.13 | 35.19 | -32.5 | -66.56 | -141.62 | 952.25 | 37.02 | -87.6 |
| Debt/Equity(x) | 0.29 | 0.2 | 0.02 | 0.11 | 0.11 | 0.09 | 0.07 | 0.17 | 0.02 | 0.28 | 0.46 |
| Current Ratio(x) | 9.5 | 12.41 | 14.63 | 3.75 | 2.73 | 4.26 | 3.27 | 2.23 | 1.88 | 2.9 | 3.22 |
| Quick Ratio(x) | 1.3 | 2.39 | 4.3 | 1.1 | 0.75 | 0.51 | 0.43 | 0.31 | 0.21 | 0.58 | 0.68 |
| Interest Cover(x) | -0.93 | 4.03 | 79.45 | 379.4 | 215.09 | 81.16 | 12.45 | -10.07 | 128.12 | 224.87 | 14.34 |
| Total Debt/Mcap(x) | 0.35 | 0.17 | 0.02 | 0.04 | 0.04 | 0.1 | 0.08 | 0.19 | 0.02 | 0.23 | 0.57 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 62.1 | 60.22 | 62.07 | 62.07 | 62.07 | 62.07 | 62.07 | 62.07 | 62.07 | 62.07 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.01 |
| Public | 37.9 | 39.78 | 37.93 | 37.93 | 37.93 | 37.93 | 37.93 | 37.93 | 37.92 | 37.92 |
| 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 | 0.17 | 0.15 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| 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 | 0.1 | 0.1 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.27 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 | 0.26 |
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