WEBSITE BSE:526137 NSE: SHETRON LTD Inc. Year: 1980 Industry: Engineering - Industrial Equipments My Bucket: Add Stock
Last updated: 10:40
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1. Business Overview
Shetron Ltd. operates within the Engineering - Industrial Equipments sector in India. Its core business likely involves the design, manufacturing, supply, and potentially installation and servicing of various industrial equipment, machinery, components, or systems. The company's business model is primarily B2B (business-to-business), catering to other industries such as manufacturing, infrastructure, energy, and processing sectors that require specialized machinery and equipment for their operations. Shetron Ltd. makes money through the sale of its manufactured products, spare parts, and potentially through after-sales services, maintenance contracts, or project-based engineering solutions.
2. Key Segments / Revenue Mix
Without specific company data, the major business segments are not available. Typically, companies in the industrial equipment sector may categorize their revenue by different product lines (e.g., heavy machinery, precision components, process equipment), end-user industries served (e.g., automotive, power, metals & mining), or by service offerings (e.g., equipment sales, AMC/spares, project execution). A detailed breakdown of revenue contribution by these potential segments for Shetron Ltd. is not publicly specified in the given context.
3. Industry & Positioning
The Indian Engineering - Industrial Equipments industry is characterized by a mix of organized and unorganized players, including large global conglomerates, established domestic manufacturers, and numerous smaller enterprises often specializing in specific niches. The industry's growth is closely tied to overall industrial capital expenditure (CAPEX), government infrastructure spending, and manufacturing sector growth. Shetron Ltd. is positioned as a domestic player within this competitive landscape, likely contending for market share based on its product quality, engineering capabilities, cost-effectiveness, and customer relationships. Its specific standing relative to peers (e.g., market share, product leadership) would depend on its product portfolio and target markets.
4. Competitive Advantage (Moat)
For a company like Shetron Ltd., potential competitive advantages could include:
Specialized Engineering Expertise: Proprietary design, manufacturing processes, or technical know-how in specific equipment types.
Customer Relationships: Long-standing relationships and trust built with industrial clients through reliable product delivery and service.
Cost Efficiency: Optimized manufacturing processes or supply chain management leading to competitive pricing.
After-Sales Service Network: A robust service and spare parts network can create switching costs for customers and ensure equipment uptime.
Brand Reputation: A reputation for quality, durability, and reliability in its specific product categories.
However, without specific details, the existence and strength of these moats for Shetron Ltd. cannot be definitively confirmed.
5. Growth Drivers
Key factors that can drive Shetron Ltd.'s growth over the next 3-5 years include:
Increased Industrial CAPEX: A general uptick in capital expenditure by various industries in India, driven by economic growth and expansion.
Government Initiatives: Policies like 'Make in India,' Production Linked Incentive (PLI) schemes, and increased public spending on infrastructure projects (e.g., roads, railways, ports, energy).
Modernization & Automation: Demand for more efficient and automated industrial equipment as industries adopt advanced manufacturing technologies.
Sector-Specific Demand: Growth in particular end-user industries that Shetron Ltd. serves, such as renewable energy, automotive, construction, or process industries.
Export Opportunities: Leveraging competitive manufacturing costs and engineering capabilities to tap into international markets.
6. Risks
Shetron Ltd. faces several business risks:
Cyclicality of Demand: The industrial equipment sector is highly cyclical, sensitive to economic slowdowns and changes in industrial CAPEX budgets.
Raw Material Price Volatility: Fluctuations in prices of key inputs (e.g., steel, other metals, energy) can impact profit margins.
Intense Competition: Competition from both domestic players and international giants can put pressure on pricing and market share.
Technological Obsolescence: Rapid advancements in manufacturing technology could render existing equipment designs or production methods less competitive.
Dependency on End-User Industries: Over-reliance on a few specific customer industries makes the company vulnerable to downturns in those sectors.
Supply Chain Disruptions: Global or domestic supply chain issues can delay production and delivery.
7. Management & Ownership
Shetron Ltd. is an Indian company, and like many firms in India, it is likely promoter-led. The ownership structure would typically involve the promoter group holding a significant stake, alongside institutional investors (if applicable) and public shareholders. While the specific quality of management or corporate governance practices cannot be assessed without detailed reports, these are critical factors for long-term company performance. Promoter-led companies often benefit from strong vision and long-term commitment but may also present risks related to succession planning or related-party transactions if not governed effectively.
8. Outlook
Shetron Ltd., as an industrial equipment manufacturer, stands to benefit from India's projected economic growth and government focus on boosting domestic manufacturing and infrastructure development. The 'Make in India' initiative and infrastructure spending provide a supportive environment for increased industrial CAPEX, which is a direct demand driver for the company's products. However, the company operates in a cyclical and competitive industry. Its performance will be significantly influenced by its ability to manage raw material costs, adapt to technological changes, diversify its customer base, and maintain efficient operations. A slowdown in industrial activity or intensified competition could pressure its revenues and profitability. Its success hinges on strategic execution, innovation, and prudent financial management.
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Market Cap ₹95 Cr.
Stock P/E 31
P/B 1.5
Current Price ₹105.9
Book Value ₹ 68.6
Face Value 10
52W High ₹164.5
Dividend Yield 0.94%
52W Low ₹ 83.8
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 50 | 52 | 65 | 58 | 52 | 55 | 69 | 60 | 56 | 61 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 50 | 52 | 65 | 58 | 52 | 55 | 69 | 61 | 56 | 62 |
| Total Expenditure | 44 | 47 | 59 | 53 | 48 | 51 | 64 | 57 | 52 | 56 |
| Operating Profit | 6 | 5 | 6 | 5 | 4 | 4 | 5 | 4 | 4 | 6 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 2 | 2 |
| Depreciation | 2 | 2 | 1 | 2 | 2 | 2 | 1 | 1 | 2 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 3 | 2 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 2 |
| Provision for Tax | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 |
| Profit After Tax | 2 | 1 | 2 | 1 | 0 | 0 | 2 | 1 | 0 | 1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 2 | 1 | 2 | 1 | 0 | 0 | 2 | 1 | 0 | 1 |
| Adjusted Earnings Per Share | 2 | 1.2 | 1.7 | 1.2 | 0.2 | 0.3 | 1.8 | 1.2 | 0.4 | 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 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 161 | 158 | 149 | 168 | 165 | 162 | 171 | 226 | 245 | 240 | 229 | 246 |
| Other Income | 1 | 1 | 2 | 1 | 2 | 3 | 1 | 2 | 2 | 1 | 2 | 0 |
| Total Income | 162 | 158 | 150 | 169 | 167 | 165 | 172 | 228 | 246 | 241 | 230 | 248 |
| Total Expenditure | 136 | 132 | 126 | 147 | 146 | 147 | 158 | 205 | 222 | 217 | 211 | 229 |
| Operating Profit | 26 | 26 | 24 | 21 | 21 | 19 | 14 | 23 | 24 | 24 | 19 | 19 |
| Interest | 17 | 16 | 14 | 12 | 11 | 12 | 10 | 11 | 10 | 9 | 8 | 7 |
| Depreciation | 8 | 8 | 8 | 7 | 6 | 6 | 5 | 6 | 5 | 6 | 6 | 6 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 1 | 2 | 3 | 3 | 3 | 1 | -2 | 7 | 9 | 9 | 5 | 6 |
| Provision for Tax | 0 | 1 | 1 | 1 | 1 | 0 | 0 | 2 | 3 | 3 | 2 | 3 |
| Profit After Tax | 1 | 2 | 2 | 2 | 2 | 1 | -2 | 5 | 6 | 7 | 3 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -1 | 0 |
| Profit After Adjustments | 1 | 2 | 2 | 2 | 2 | 1 | -2 | 5 | 6 | 6 | 2 | 4 |
| Adjusted Earnings Per Share | 0.8 | 1.7 | 2.1 | 2 | 2.4 | 1 | -2.2 | 5.7 | 6.7 | 7.3 | 3.4 | 4.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -5% | 0% | 7% | 4% |
| Operating Profit CAGR | -21% | -6% | 0% | -3% |
| PAT CAGR | -57% | -16% | 25% | 12% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -22% | 17% | 35% | 14% |
| ROE Average | 5% | 10% | 7% | 5% |
| ROCE Average | 11% | 14% | 13% | 13% |
| #(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 | 40 | 42 | 37 | 39 | 41 | 42 | 40 | 45 | 50 | 56 | 59 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 62 | 51 | 40 | 21 | 36 | 34 | 36 | 31 | 32 | 28 | 14 |
| Other Non-Current Liabilities | 5 | 5 | 5 | 5 | 6 | 1 | 1 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 76 | 74 | 83 | 94 | 73 | 73 | 71 | 77 | 68 | 73 | 79 |
| Total Liabilities | 183 | 172 | 165 | 159 | 155 | 150 | 147 | 153 | 150 | 157 | 151 |
| Fixed Assets | 67 | 60 | 52 | 49 | 47 | 47 | 43 | 41 | 46 | 47 | 48 |
| Other Non-Current Assets | 22 | 27 | 9 | 9 | 5 | 1 | 3 | 3 | 4 | 3 | 2 |
| Total Current Assets | 94 | 85 | 103 | 102 | 102 | 102 | 100 | 110 | 101 | 107 | 101 |
| Total Assets | 183 | 172 | 165 | 159 | 155 | 150 | 147 | 153 | 150 | 157 | 151 |
| #(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 | 9 | 7 | 9 | 6 | 0 | 1 | 0 | 1 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 9 | 17 | 16 | 11 | -13 | 2 | -0 | 7 | 11 | 12 | 22 |
| Cash Flow from Investing Activities | -1 | -4 | -4 | 1 | -1 | -1 | -2 | -3 | -11 | -7 | -7 |
| Cash Flow from Financing Activities | -10 | -11 | -11 | -19 | 14 | -2 | 2 | -5 | 1 | -5 | -15 |
| Net Cash Inflow / Outflow | -2 | 3 | 2 | -6 | 0 | -0 | 0 | -1 | 0 | 0 | -0 |
| Closing Cash & Cash Equivalent | 7 | 9 | 11 | 0 | 1 | 0 | 1 | 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) | 0.82 | 1.68 | 2.07 | 2.02 | 2.44 | 0.98 | -2.2 | 5.69 | 6.67 | 7.26 | 3.42 |
| CEPS(Rs) | 9.27 | 10.02 | 10.43 | 9.68 | 9.03 | 7.18 | 3.88 | 11.8 | 12.69 | 14.03 | 10.31 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Book NAV/Share(Rs) | 44.5 | 46.14 | 41.36 | 43.17 | 45.38 | 46.73 | 44.33 | 49.8 | 55.96 | 62.71 | 65.13 |
| Core EBITDA Margin(%) | 14.52 | 14.89 | 13.88 | 12.09 | 11.42 | 9.69 | 7.18 | 9.37 | 9.16 | 9.62 | 7.66 |
| EBIT Margin(%) | 10.44 | 10.86 | 10.2 | 8.45 | 8.95 | 8.04 | 4.83 | 7.91 | 7.63 | 7.51 | 5.66 |
| Pre Tax Margin(%) | 0.65 | 1.32 | 1.64 | 1.58 | 2.01 | 0.7 | -1.05 | 2.98 | 3.52 | 3.83 | 2.06 |
| PAT Margin (%) | 0.43 | 0.88 | 1.16 | 1.06 | 1.34 | 0.54 | -1.16 | 2.27 | 2.45 | 2.72 | 1.35 |
| Cash Profit Margin (%) | 4.84 | 5.27 | 5.84 | 5.06 | 4.93 | 3.98 | 2.05 | 4.7 | 4.67 | 5.27 | 4.06 |
| ROA(%) | 0.41 | 0.85 | 1.1 | 1.13 | 1.4 | 0.58 | -1.33 | 3.41 | 3.96 | 4.25 | 1.99 |
| ROE(%) | 1.87 | 3.7 | 4.72 | 4.79 | 5.52 | 2.12 | -4.83 | 12.09 | 12.61 | 12.23 | 5.35 |
| ROCE(%) | 12.37 | 13.02 | 12.5 | 12.3 | 12.89 | 11.06 | 7 | 15.83 | 16.33 | 15.04 | 11.47 |
| Receivable days | 67.12 | 69.07 | 69.63 | 72.94 | 72.28 | 65.05 | 59.51 | 44.75 | 41.83 | 44.23 | 50.23 |
| Inventory Days | 68.05 | 70.67 | 77.06 | 80.21 | 96.27 | 100.67 | 96.93 | 84.05 | 77.68 | 76.91 | 82.68 |
| Payable days | 89.63 | 93.97 | 103.8 | 105.45 | 106.21 | 88.74 | 76.77 | 68.83 | 64.88 | 62.04 | 79.94 |
| PER(x) | 18.12 | 18.95 | 20.78 | 27.03 | 12.56 | 14.88 | 0 | 8.09 | 7.97 | 14.08 | 38.75 |
| Price/Book(x) | 0.33 | 0.69 | 1.04 | 1.27 | 0.68 | 0.31 | 0.45 | 0.92 | 0.95 | 1.63 | 2.04 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.88 | 0.98 | 0.75 |
| EV/Net Sales(x) | 0.71 | 0.74 | 0.77 | 0.7 | 0.59 | 0.52 | 0.51 | 0.45 | 0.45 | 0.63 | 0.7 |
| EV/Core EBITDA(x) | 4.44 | 4.45 | 4.78 | 5.5 | 4.73 | 4.53 | 6.32 | 4.3 | 4.57 | 6.26 | 8.33 |
| Net Sales Growth(%) | 21.75 | -1.97 | -5.74 | 13.12 | -2.08 | -1.45 | 5.03 | 32.36 | 8.35 | -1.91 | -4.6 |
| EBIT Growth(%) | 19.63 | 3.34 | -11.79 | -11.29 | 1.44 | -11.53 | -36.93 | 116.89 | 4.48 | -3.38 | -28.14 |
| PAT Growth(%) | 174 | 104.05 | 23.18 | -2.15 | 20.88 | -60 | -325 | 358.59 | 17.19 | 8.83 | -52.83 |
| EPS Growth(%) | 174 | 104.05 | 23.18 | -2.15 | 20.88 | -60 | -324.99 | 358.59 | 17.19 | 8.83 | -52.83 |
| Debt/Equity(x) | 2.67 | 2.33 | 2.33 | 1.9 | 1.85 | 1.84 | 1.9 | 1.45 | 1.35 | 1.15 | 0.79 |
| Current Ratio(x) | 1.24 | 1.15 | 1.25 | 1.09 | 1.4 | 1.39 | 1.42 | 1.42 | 1.49 | 1.47 | 1.29 |
| Quick Ratio(x) | 0.79 | 0.71 | 0.82 | 0.66 | 0.77 | 0.81 | 0.74 | 0.69 | 0.78 | 0.74 | 0.65 |
| Interest Cover(x) | 1.07 | 1.14 | 1.19 | 1.23 | 1.29 | 1.09 | 0.82 | 1.6 | 1.86 | 2.04 | 1.57 |
| Total Debt/Mcap(x) | 7.97 | 3.38 | 2.24 | 1.5 | 2.74 | 5.92 | 4.25 | 1.57 | 1.42 | 0.7 | 0.39 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 64.18 | 64.18 | 64.18 | 64.18 | 64.18 | 64.18 | 64.18 | 64.22 | 64.64 | 64.78 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 35.82 | 35.82 | 35.82 | 35.82 | 35.82 | 35.82 | 35.82 | 35.78 | 35.35 | 35.22 |
| 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 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 | 0.58 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
* The pros and cons are machine generated.
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