Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹1004 Cr.
Stock P/E
50.6
P/B
0.6
Current Price
₹544
Book Value
₹ 872
Face Value
10
52W High
₹748.8
52W Low
₹ 342
Dividend Yield
0%

STEL Holdings Overview

Business

STEL Holdings Ltd. is an Indian investment company. Its core business involves investing in a portfolio of shares, securities, bonds, mutual funds, and other financial instruments. The company operates as an investment holding company, primarily generating income through dividends, interest, and capital gains from the appreciation and sale of its investment assets. It does not engage in operational business activities but rather manages its investment portfolio.

Revenue Mix

As an investment holding company, STEL Holdings primarily operates within a single segment: investment activities. Its revenue mix is predominantly derived from:

Dividend Income: From its equity holdings.

Interest Income: From debt instruments or other interest-bearing investments.

Capital Gains: From the sale of appreciated investments.

A significant portion of its asset base and potential returns is often tied to its major strategic investments, such as its substantial stake in Tata Coffee Ltd.

Industry

STEL Holdings operates within the broader Finance - Investment industry in India. This sector is highly diverse, encompassing mutual funds, alternative investment funds (AIFs), non-banking financial companies (NBFCs), and other investment vehicles. STEL positions itself more as a strategic investment holding company rather than a fund manager or a direct competitor to retail investment products. It typically holds long-term stakes in companies, often with a strategic intent or as part of a promoter group's overall investment structure. Compared to large institutional investors or diversified financial services conglomerates, STEL is a focused player whose performance is largely tied to the value and income generated by its specific investment portfolio.

MOAT

As a pure investment holding company, STEL Holdings does not possess traditional moats like brand recognition, network effects, or switching costs in the operational sense. Its "moat," if any, would stem from:

Strategic Long-Term Holdings: The value derived from holding significant, strategic stakes in well-established and potentially high-performing underlying companies (e.g., Tata Coffee).

Efficient Capital Allocation: The management's capability to identify and invest in undervalued or high-growth opportunities.

Promoter Group Affiliation: Potential synergies, access to capital, or investment insights stemming from its association with a larger business group.

However, its success is primarily dependent on market conditions and the judiciousness of its investment decisions.

Growth Drivers

Performance of Underlying Investments: Appreciation in market value and consistent dividend payouts from its portfolio companies will directly drive STEL's asset value and income.

Effective Capital Allocation: The management's ability to identify and invest in new, high-growth investment opportunities that outperform the broader market.

Favorable Economic and Market Conditions: A buoyant equity market in India generally boosts the value of its listed equity holdings.

Diversification and New Strategic Investments: Expanding its investment portfolio into promising sectors or companies could provide new avenues for growth.

Risks

Market Volatility: Fluctuations in the Indian equity and debt markets directly impact the valuation of its investment portfolio and potential capital gains.

Concentration Risk: If the portfolio is heavily concentrated in a few investments (e.g., a large stake in Tata Coffee), underperformance or adverse events affecting those specific companies can significantly impact STEL.

Investment Performance Risk: Poor investment decisions or sub-optimal portfolio management by the company's leadership could lead to capital losses.

Regulatory Changes: Changes in tax laws related to dividends, capital gains, or investment regulations could impact profitability.

Liquidity Risk: Difficulty in monetizing large strategic stakes without affecting market prices, especially in less liquid investments.

Management & Ownership

STEL Holdings Ltd. is a publicly listed company, but it typically has a distinct promoter group that holds a significant stake, influencing strategic decisions. The promoter group consists of entities like M/s. B&I Investment (P) Ltd., M/s. Standard Commercial Company Ltd., and M/s. Standard Holding Company Ltd., which are largely investment vehicles of the founding/controlling families. Management quality, in this context, is primarily assessed by their track record of capital allocation, portfolio management, and ability to generate returns from investments. The ownership structure generally includes the promoter group, public shareholders, and sometimes institutional investors.

Outlook

STEL Holdings' outlook is intrinsically linked to the performance of its underlying investment portfolio and the broader economic and market conditions in India.

Bull Case: A positive outlook would depend on the continued strong performance and growth of its key strategic holdings (such as Tata Coffee), coupled with astute capital allocation by management to identify new profitable investment avenues. A generally robust Indian equity market would also provide a tailwind, leading to capital appreciation and steady dividend income.

Bear Case: The company faces risks from market downturns, underperformance of its major concentrated holdings, or sub-optimal investment decisions. Any adverse regulatory changes affecting investment income or capital gains could also dampen its financial performance. Its pure investment nature means it lacks operational diversification to cushion against market shocks, making it highly susceptible to investment-specific and systemic market risks.

STEL Holdings Share Price

Live · BSE / NSE · Inception: 1990
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

STEL Holdings Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 13 0 8 0 13 1 9 17 0 0
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 13 0 8 0 13 1 9 17 0 0
Total Expenditure 0 0 0 0 0 0 0 0 0 0
Operating Profit 13 0 8 0 13 0 9 17 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 13 0 8 0 13 0 9 17 0 -0
Provision for Tax 3 0 2 0 3 0 2 4 -0 0
Profit After Tax 10 0 6 0 10 0 7 13 1 -0
Adjustments 0 0 0 -0 0 0 0 0 0 -0
Profit After Adjustments 10 0 6 0 10 0 7 13 1 -0
Adjusted Earnings Per Share 5.4 0 3.1 0 5.4 0.2 3.6 6.8 0.3 -0.1

STEL Holdings Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 0 0 7 10 16 12 20 17 18 22 27 26
Other Income 10 4 0 0 0 0 0 0 0 0 0 0
Total Income 10 4 7 10 16 12 20 17 18 22 27 26
Total Expenditure 13 1 1 1 1 1 1 1 1 1 1 0
Operating Profit -4 3 6 9 16 12 19 16 18 21 27 26
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 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -4 3 6 9 15 12 19 16 18 21 27 26
Provision for Tax 0 1 0 0 0 3 5 4 4 5 7 6
Profit After Tax -4 1 6 9 15 9 15 12 13 16 20 21
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -4 1 6 9 15 9 15 12 13 16 20 21
Adjusted Earnings Per Share -2.2 0.7 3.1 4.9 8.2 4.7 7.9 6.6 7.2 8.6 10.8 10.6

STEL Holdings Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 117 601 754 661 453 778 739 814 1504 1753 1609
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 0
Other Non-Current Liabilities 0 0 0 0 0 5 3 4 96 134 104
Total Current Liabilities 0 1 0 0 0 0 0 0 0 25 0
Total Liabilities 117 603 754 661 453 783 742 819 1600 1913 1713
Fixed Assets 1 1 1 1 1 1 1 1 1 1 1
Other Non-Current Assets 98 581 727 636 417 687 714 781 1566 1884 1710
Total Current Assets 18 21 25 25 35 94 27 36 32 28 3
Total Assets 117 603 754 661 453 783 742 819 1600 1913 1713

STEL Holdings Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 4 9 10 14 14 30 92 1 0 0 0
Cash Flow from Operating Activities -4 -3 -2 -1 21 -10 15 14 12 43 -6
Cash Flow from Investing Activities 10 4 7 0 -5 72 -82 -14 -12 -43 6
Cash Flow from Financing Activities 0 -1 0 0 0 0 0 0 0 0 0
Net Cash Inflow / Outflow 5 0 5 -1 16 62 -67 -0 -0 0 -0
Closing Cash & Cash Equivalent 9 10 14 14 30 92 25 0 0 0 0

STEL Holdings Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) -2.19 0.73 3.11 4.87 8.22 4.69 7.92 6.64 7.19 8.6 10.76
CEPS(Rs) -2.15 0.77 3.15 4.9 8.24 4.72 7.94 6.67 7.23 8.63 10.78
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 63.38 325.83 408.32 358.18 245.29 421.42 400.51 441.17 814.79 949.94 872.1
Core EBITDA Margin(%) 0 0 86.54 94.26 95.55 95.92 97.04 95.95 96.44 97.08 97.28
EBIT Margin(%) 0 0 85.65 93.71 95.26 95.53 96.87 95.64 96.08 96.82 97.11
Pre Tax Margin(%) 0 0 85.65 93.71 95.26 95.53 96.87 95.64 96.08 96.82 97.11
PAT Margin (%) 0 0 83.05 91.63 93.31 70.55 72.82 71.43 71.89 72.43 72.38
Cash Profit Margin (%) 0 0 83.93 92.17 93.6 70.94 73.04 71.75 72.25 72.69 72.55
ROA(%) -3.39 0.38 0.85 1.27 2.72 1.4 1.92 1.57 1.1 0.9 1.1
ROE(%) -3.39 0.38 0.85 1.27 2.72 1.41 1.93 1.58 1.15 0.97 1.18
ROCE(%) -3.2 0.77 0.87 1.3 2.78 1.9 2.56 2.11 1.53 1.3 1.58
Receivable days 0 0 0 0 0 0 0 0 0 0 0
Inventory Days 0 0 0 0 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 0 92.6 31.65 20.67 4.7 17.66 14.51 21.77 44.49 45.03 39.59
Price/Book(x) 0.4 0.21 0.24 0.28 0.16 0.2 0.29 0.33 0.39 0.41 0.49
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0 0 24.2 17.54 2.53 4.93 9.31 13.48 30.35 31.37 28.57
EV/Core EBITDA(x) -10.1 41.12 27.97 18.6 2.65 5.14 9.59 14.05 31.47 32.31 29.37
Net Sales Growth(%) 0 0 0 41.71 65.77 -24.54 63.53 -14.45 7.59 18.65 25.22
EBIT Growth(%) -200.6 172.1 115.63 55.04 68.5 -24.32 65.82 -15.54 8.08 19.57 25.59
PAT Growth(%) -207.33 133.5 325.02 56.35 68.81 -42.94 68.79 -16.08 8.27 19.55 25.12
EPS Growth(%) -207.33 133.5 325.02 56.35 68.81 -42.94 68.79 -16.08 8.27 19.55 25.12
Debt/Equity(x) 0 0 0 0 0 0 0 0 0 0 0
Current Ratio(x) 112.09 14.78 461.73 506.42 691.09 2213.15 295.13 433.46 630.29 1.09 25.51
Quick Ratio(x) 112.09 14.78 461.73 506.42 691.09 2213.15 295.13 433.46 630.29 1.09 26.01
Interest Cover(x) 0 0 0 0 0 0 0 0 0 0 0
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +23% +17% +18% —
Operating Profit CAGR +29% +19% +18% —
PAT CAGR +25% +19% +17% —
Share Price CAGR +28% +36% +27% +24%
ROE Average +1% +1% +1% +1%
ROCE Average +2% +1% +2% +1%

STEL Holdings Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 72.39 %
FII 0.02 %
DII (MF + Insurance) 0.05 %
Public (retail) 27.53 %
Others 0.01 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 67.4769.1569.1569.4769.4770.8371.3371.6672.0672.39
FII 0.110.130.080.0200.0100.010.010.02
DII 0.170.170.170.170.170.170.150.130.070.05
Public 32.2530.5630.630.3430.3628.9928.5128.2127.8727.53
Others 0000000000
Total 100100100100100100100100100100

STEL Holdings Peer Comparison

Finance - Investment Edit Columns

STEL Holdings Quarterly Price

10-year quarterly close · BSE
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News & Updates

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STEL Holdings Pros & Cons

Pros

  • Stock is trading at 0.6 times its book value
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 1% over the last 3 years.
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