Rubber Products · Founded 2000 · www.somiconveyor.com · BSE 533001 · NSE SOMICONVEY · ISIN INE323J01019
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Business
Somi Conveyor Beltings Ltd. is engaged in the manufacturing and sale of rubber products, specifically conveyor belts. Its core business model revolves around producing various types of conveyor belts, likely used for material handling across diverse industrial applications such as mining, construction, power, cement, and agriculture. The company generates revenue by selling these industrial-grade rubber conveyor belts to business-to-business (B2B) clients in India.
Revenue Mix
Specific information regarding key business segments or a detailed revenue mix is not available. Given the company name, its primary focus is likely on various categories of conveyor belts (e.g., heavy-duty, light-duty, heat-resistant, oil-resistant, flame-retardant) serving different industrial requirements.
Industry
The company operates within the Indian rubber products industry, with a specialization in conveyor belt manufacturing. This industry is an ancillary to various core sectors like manufacturing, infrastructure, and mining. The market for conveyor belts in India typically consists of both organized national players and a fragmented unorganized segment. Without specific market share data, it's difficult to ascertain Somi Conveyor Beltings' precise positioning, but it would compete with other domestic manufacturers and potentially importers of conveyor belt solutions.
MOAT
Specific information on proprietary competitive advantages (moats) for Somi Conveyor Beltings Ltd. is not provided. In the conveyor belting industry, potential moats could include strong product quality and durability, a robust distribution and service network, long-standing customer relationships, cost leadership due to economies of scale, or specialized R&D capabilities for niche applications. However, without further data, it cannot be confirmed if the company possesses any of these durable advantages.
Growth Drivers
Key factors that could drive growth for Somi Conveyor Beltings Ltd. over the next 3-5 years include:
Infrastructure Development: Continued government spending and private investment in infrastructure projects (roads, ports, power plants) in India.
Industrial Growth: Expansion and modernization of manufacturing, mining, cement, and other core industrial sectors that rely heavily on material handling systems.
Replacement Demand: The wear-and-tear nature of conveyor belts ensures a consistent demand for replacements and maintenance in existing industrial setups.
Technological Advancements: Potential for growth through developing specialized belts for emerging industrial needs or improving product performance and efficiency.
Risks
Economic Downturns: Demand for industrial products like conveyor belts is cyclical and highly dependent on the overall health and investment cycles of core industries (mining, manufacturing, construction).
Raw Material Price Volatility: Fluctuations in the prices of key raw materials like natural rubber, synthetic rubber, chemicals, and fabric can impact production costs and profit margins.
Competition: Intense competition from domestic and international players can lead to pricing pressures and affect market share.
Technological Obsolescence: While less common in this sector, significant technological advancements or new material developments could disrupt existing product lines.
Regulatory Changes: Environmental regulations or industrial safety standards could necessitate changes in manufacturing processes or product specifications.
Management & Ownership
Somi Conveyor Beltings Ltd. is a publicly listed company in India. In many Indian companies, promoters (founding families or individuals) typically hold significant stakes and are actively involved in management. The company's ownership structure would consist of these promoters, institutional investors, and public shareholders. Specific details about the current management team's quality or the precise ownership breakdown are not available from the given information.
Outlook
Somi Conveyor Beltings operates in a fundamental industrial support sector in India, suggesting a long-term demand base fueled by the nation's ongoing industrialization and infrastructure growth.
Bull Case: A strong rebound in industrial capital expenditure, sustained growth in mining and construction, and effective management of raw material costs could position the company for steady demand and profitability. A focus on product quality, customization, or expanding its service network could provide an edge.
Bear Case: The company remains vulnerable to cyclical downturns in its client industries, significant increases in raw material prices, and intense competition which could suppress margins. The absence of clearly articulated competitive advantages could limit its ability to outperform peers or withstand adverse market conditions.
Overall, the company's performance will largely depend on its operational efficiency, market penetration strategies, and ability to navigate the inherent cyclicality and input cost volatility of the industrial rubber products sector.
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 | 19 | 38 | 15 | 34 | 28 | 24 | 26 | 20 | 37 | 17 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 19 | 38 | 15 | 34 | 28 | 24 | 27 | 20 | 38 | 17 |
| Total Expenditure | 17 | 35 | 14 | 30 | 25 | 22 | 24 | 18 | 34 | 15 |
| Operating Profit | 2 | 3 | 2 | 4 | 3 | 2 | 2 | 2 | 4 | 2 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 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 | 1 | 3 | 1 | 3 | 2 | 1 | 2 | 1 | 3 | 1 |
| Provision for Tax | 0 | 1 | 0 | 1 | 1 | 1 | 0 | 0 | 1 | 1 |
| Profit After Tax | 1 | 2 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 1 |
| Adjustments | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Profit After Adjustments | 1 | 2 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 1 |
| Adjusted Earnings Per Share | 0.6 | 1.6 | 0.6 | 2 | 1.3 | 0.8 | 1 | 0.7 | 2 | 0.5 |
| #(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 | 75 | 58 | 62 | 64 | 61 | 46 | 47 | 57 | 94 | 102 | 101 | 100 |
| Other Income | 1 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 76 | 60 | 62 | 65 | 61 | 47 | 47 | 58 | 94 | 102 | 102 | 102 |
| Total Expenditure | 63 | 45 | 53 | 55 | 52 | 39 | 40 | 51 | 86 | 93 | 91 | 91 |
| Operating Profit | 14 | 14 | 10 | 10 | 9 | 8 | 7 | 7 | 8 | 9 | 11 | 10 |
| Interest | 3 | 4 | 3 | 4 | 4 | 3 | 4 | 3 | 3 | 2 | 2 | 1 |
| Depreciation | 5 | 7 | 6 | 5 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 6 | 4 | 1 | 1 | 2 | 3 | 2 | 3 | 4 | 6 | 8 | 7 |
| Provision for Tax | 2 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit After Tax | 4 | 2 | 0 | 1 | 2 | 2 | 2 | 2 | 3 | 5 | 5 | 5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 4 | 2 | 0 | 1 | 2 | 2 | 2 | 2 | 3 | 5 | 5 | 5 |
| Adjusted Earnings Per Share | 3.6 | 1.9 | 0.3 | 0.9 | 1.3 | 2.1 | 1.5 | 1.5 | 2.9 | 3.9 | 4.7 | 4.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -1% | 21% | 17% | 3% |
| Operating Profit CAGR | 22% | 16% | 7% | -2% |
| PAT CAGR | 0% | 36% | 20% | 2% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -46% | 29% | 16% | 9% |
| ROE Average | 7% | 6% | 5% | 4% |
| ROCE Average | 10% | 9% | 8% | 8% |
| #(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 | 56 | 57 | 56 | 57 | 58 | 61 | 63 | 64 | 66 | 71 | 77 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 12 | 7 | 0 | 1 | 6 | 3 | 6 | 5 | 3 | 1 | 1 |
| Other Non-Current Liabilities | 1 | 1 | -0 | -1 | -1 | -1 | -0 | -0 | 0 | 0 | 0 |
| Total Current Liabilities | 34 | 41 | 43 | 44 | 37 | 29 | 32 | 38 | 33 | 38 | 44 |
| Total Liabilities | 102 | 106 | 99 | 102 | 99 | 92 | 100 | 107 | 103 | 110 | 122 |
| Fixed Assets | 45 | 39 | 34 | 31 | 27 | 27 | 27 | 26 | 26 | 26 | 26 |
| Other Non-Current Assets | 2 | 5 | 4 | 2 | 3 | 3 | 2 | 6 | 5 | 4 | 7 |
| Total Current Assets | 55 | 62 | 61 | 69 | 70 | 62 | 72 | 75 | 71 | 80 | 89 |
| Total Assets | 102 | 106 | 99 | 102 | 99 | 92 | 100 | 107 | 103 | 110 | 122 |
| #(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 | 6 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 2 | 4 |
| Cash Flow from Operating Activities | 5 | 4 | 6 | 3 | 4 | 5 | 4 | -2 | 16 | 6 | -8 |
| Cash Flow from Investing Activities | -12 | 2 | -0 | -1 | 0 | -0 | -0 | -2 | -1 | -1 | -1 |
| Cash Flow from Financing Activities | 14 | -5 | -6 | -3 | -4 | -4 | -4 | 4 | -13 | -4 | 5 |
| Net Cash Inflow / Outflow | 7 | -0 | -0 | 0 | 0 | 0 | -0 | -0 | 2 | 1 | -4 |
| Closing Cash & Cash Equivalent | 13 | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 2 | 4 | 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) | 3.63 | 1.94 | 0.34 | 0.86 | 1.31 | 2.06 | 1.5 | 1.46 | 2.94 | 3.86 | 4.66 |
| CEPS(Rs) | 7.99 | 7.71 | 5.16 | 4.98 | 4.24 | 3.01 | 2.36 | 2.29 | 3.8 | 4.86 | 5.78 |
| DPS(Rs) | 0 | 1 | 0 | 0.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 42.92 | 43.65 | 47.18 | 48.08 | 48.83 | 51.63 | 53.06 | 54.52 | 56.45 | 60.32 | 64.97 |
| Core EBITDA Margin(%) | 14.75 | 19.96 | 13.3 | 14.45 | 14.5 | 15.17 | 14.43 | 11.14 | 8.34 | 8.57 | 10.28 |
| EBIT Margin(%) | 10.16 | 11.56 | 5.77 | 7.84 | 9.4 | 14.21 | 12.57 | 10.01 | 7.47 | 7.73 | 9.41 |
| Pre Tax Margin(%) | 7.07 | 5.79 | 0.99 | 2.18 | 3.59 | 7.04 | 5.02 | 4.49 | 4.56 | 5.97 | 7.54 |
| PAT Margin (%) | 5.15 | 3.59 | 0.59 | 1.55 | 2.55 | 5.24 | 3.76 | 3 | 3.7 | 4.46 | 5.42 |
| Cash Profit Margin (%) | 11.33 | 14.26 | 9.04 | 9 | 8.23 | 7.65 | 5.94 | 4.71 | 4.78 | 5.6 | 6.73 |
| ROA(%) | 4.63 | 2.19 | 0.39 | 1.01 | 1.54 | 2.54 | 1.84 | 1.66 | 3.31 | 4.28 | 4.73 |
| ROE(%) | 8.83 | 4.49 | 0.74 | 1.8 | 2.71 | 4.1 | 2.86 | 2.71 | 5.31 | 6.62 | 7.43 |
| ROCE(%) | 11.8 | 8.92 | 4.73 | 6.19 | 6.88 | 7.88 | 6.97 | 6.46 | 7.92 | 9.27 | 10.35 |
| Receivable days | 84.18 | 137.8 | 114.69 | 104.41 | 120.83 | 141.59 | 173.49 | 166.77 | 101.48 | 125.39 | 142.23 |
| Inventory Days | 62.76 | 111.18 | 165.93 | 218.51 | 242.09 | 310.42 | 291.58 | 253.41 | 147.44 | 103.51 | 116.25 |
| Payable days | 40.69 | 81.18 | 75.23 | 86.37 | 99.45 | 106.05 | 95.63 | 94.51 | 56.95 | 65.9 | 85.35 |
| PER(x) | 13.5 | 21.62 | 167.41 | 55.57 | 18.74 | 5.1 | 21 | 22.76 | 12.26 | 34.35 | 38.31 |
| Price/Book(x) | 1.14 | 0.96 | 1.19 | 0.99 | 0.5 | 0.2 | 0.59 | 0.61 | 0.64 | 2.2 | 2.75 |
| Dividend Yield(%) | 0 | 2.38 | 0 | 1.05 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.04 | 1.21 | 1.46 | 1.24 | 0.84 | 0.71 | 1.2 | 1.12 | 0.58 | 1.6 | 2.23 |
| EV/Core EBITDA(x) | 5.74 | 4.98 | 9.42 | 7.99 | 5.58 | 4.29 | 8.14 | 9.51 | 6.79 | 18 | 20.77 |
| Net Sales Growth(%) | 14.11 | -22.33 | 6.32 | 3.72 | -5.26 | -23.71 | 1.28 | 22.1 | 63.77 | 8.94 | -0.85 |
| EBIT Growth(%) | 14.26 | -12.77 | -47.34 | 31.82 | 11.56 | 15.39 | -10.41 | -2.82 | 22.17 | 12.83 | 20.71 |
| PAT Growth(%) | 18.69 | -46.5 | -82.67 | 155.01 | 52.92 | 56.99 | -27.45 | -2.58 | 102.13 | 31.27 | 20.51 |
| EPS Growth(%) | 18.69 | -46.5 | -82.67 | 154.99 | 52.93 | 56.99 | -27.45 | -2.58 | 102.12 | 31.27 | 20.51 |
| Debt/Equity(x) | 0.65 | 0.59 | 0.48 | 0.47 | 0.43 | 0.39 | 0.36 | 0.44 | 0.26 | 0.21 | 0.28 |
| Current Ratio(x) | 1.62 | 1.51 | 1.42 | 1.57 | 1.87 | 2.13 | 2.27 | 1.99 | 2.19 | 2.12 | 2.04 |
| Quick Ratio(x) | 1.19 | 0.92 | 0.56 | 0.64 | 0.82 | 0.78 | 1.14 | 0.82 | 1.22 | 1.43 | 1.16 |
| Interest Cover(x) | 3.28 | 2 | 1.21 | 1.38 | 1.62 | 1.98 | 1.67 | 1.82 | 2.57 | 4.4 | 5.02 |
| Total Debt/Mcap(x) | 0.57 | 0.61 | 0.4 | 0.47 | 0.86 | 1.91 | 0.6 | 0.73 | 0.41 | 0.1 | 0.1 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 |
| FII | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0.09 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 40.9 | 40.91 | 40.91 | 40.91 | 40.91 | 40.9 | 40.91 | 40.81 | 40.91 | 40.91 |
| 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 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -1% | +21% | +17% | +3% |
| Operating Profit CAGR | +22% | +16% | +7% | -2% |
| PAT CAGR | 0% | +36% | +20% | +2% |
| Share Price CAGR | -46% | +29% | +16% | +9% |
| ROE Average | +7% | +6% | +5% | +4% |
| ROCE Average | +10% | +9% | +8% | +8% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 | 59.09 |
| FII | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0.09 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 40.91 | 40.91 | 40.91 | 40.91 | 40.91 | 40.91 | 40.91 | 40.91 | 40.91 | 40.91 |
| 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 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 | 1.18 |
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