Trading · Founded 2007 · www.sunretail.in · BSE 542025 · · ISIN INE206Z01020
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Business
Sun Retail Ltd. operates in the trading sector in India. As a trading company, its core business involves buying various goods or commodities from producers or wholesalers and selling them to other businesses (B2B) or sometimes directly to consumers (B2C), often at a margin. The company's business model relies on efficient sourcing, logistics, and distribution to capitalize on price differences or demand-supply gaps within specific product categories or geographies. It generates revenue from the markup applied to the goods traded.
Revenue Mix
Specific details on Sun Retail Ltd.'s major business segments or a detailed revenue mix are not publicly available from the provided information. Typically, a trading company might deal in a range of products, which could include agricultural commodities, industrial goods, consumer durables, or other raw materials. Without specific data, it can be inferred that its revenue primarily comes from the single segment of trading operations.
Industry
The trading industry in India is generally highly fragmented and competitive, characterized by a large number of unorganized players alongside some larger, more specialized entities. Barriers to entry can be relatively low, especially for smaller-scale operations. Sun Retail Ltd., based on its ticker and sector, likely operates as a smaller to mid-sized player within this competitive landscape, focusing on specific niches or geographies rather than commanding significant market share across broad categories. Its positioning would depend heavily on its network of suppliers and buyers, operational efficiency, and capital access.
MOAT
For a company operating purely in the trading sector, durable competitive advantages (moats) are generally difficult to establish and maintain. Sun Retail Ltd. is unlikely to possess strong moats such as proprietary technology, a dominant brand, significant network effects, or high switching costs for its customers or suppliers. Any competitive edge it might have could stem from strong relationships with specific suppliers or customers, efficient logistics, deep market knowledge in niche segments, or cost advantages through scale in its specific trading activities. However, these are often tactical advantages rather than structural moats.
Growth Drivers
Key factors that could drive growth for Sun Retail Ltd. over the next 3-5 years include:
Economic Growth: A robust Indian economy leading to increased demand for goods and services across various sectors.
Expansion into New Product Categories: Diversifying its trading portfolio to include higher-margin or faster-growing products.
Geographical Expansion: Expanding its reach into new regions within India or potentially cross-border if suitable opportunities arise.
Enhanced Sourcing & Distribution Networks: Strengthening its supply chain for better pricing and faster delivery.
Digital Adoption: Leveraging technology to improve operational efficiency, market reach, and inventory management.
Risks
Sun Retail Ltd. faces several business risks:
Commodity Price Volatility: Fluctuations in the prices of goods it trades can significantly impact margins and inventory values.
Competition: Intense competition from numerous organized and unorganized players can squeeze margins.
Supply Chain Disruptions: Issues with sourcing, logistics, or transportation can halt operations and lead to losses.
Credit Risk: Exposure to counterparty risk from buyers defaulting on payments or suppliers failing to deliver.
Economic Slowdown: A downturn in the economy can reduce demand for goods, impacting sales volumes and profitability.
Regulatory Changes: Changes in trade policies, import/export duties, or taxation could affect operations.
Management & Ownership
For many smaller Indian companies like Sun Retail Ltd., ownership often resides primarily with the promoter family or group. The management structure is typically promoter-driven, with key decisions influenced by the founding family. Without specific information, it is difficult to assess the quality of management; however, continuity and long-term vision are often linked to promoter-led entities. Ownership structure would likely show a significant stake held by the promoters, with the remaining shares held by public shareholders.
Outlook
Sun Retail Ltd. operates in the fundamental yet highly competitive trading sector in India. The company's future prospects are tied to the overall health of the Indian economy and its ability to navigate the inherent volatility and low-margin nature of trading. The bull case suggests that efficient operations, strategic niche focus, and leveraging economic growth could allow it to expand its scale and profitability. However, the bear case highlights the lack of significant competitive moats, intense competition, and exposure to commodity price fluctuations and supply chain risks, which could constrain growth and pressure margins. Its success will largely depend on management's agility in sourcing, managing inventory, and controlling operational costs in a dynamic market.
| #(Fig in Cr.) |
|---|
| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(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 | 23 | 25 | 68 | 65 | 44 | 2 | 3 | 2 | 13 | 97 | 40 | |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 5 | 4 | |
| Total Income | 23 | 26 | 68 | 65 | 44 | 2 | 3 | 2 | 15 | 102 | 43 | |
| Total Expenditure | 23 | 26 | 68 | 65 | 45 | 2 | 3 | 2 | 16 | 104 | 43 | |
| Operating Profit | 0 | -0 | 0 | 0 | -0 | -0 | -0 | -0 | -1 | -2 | 0 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | |
| Profit Before Tax | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -1 | 1 | 0 | |
| Provision for Tax | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | |
| Profit After Tax | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -1 | 1 | 0 | |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Profit After Adjustments | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | -1 | 1 | 0 | |
| Adjusted Earnings Per Share | 0 | 0 | 0.1 | 0 | -0 | -0 | -0 | -0 | -0.1 | 0.1 | 0 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -59% | 171% | 82% | 6% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | -100% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -22% | -12% | -12% | NA% |
| ROE Average | 1% | 0% | -0% | 2% |
| ROCE Average | 1% | 0% | -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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 1 | 1 | 1 | 7 | 17 | 17 | 17 | 17 | 15 | 16 | 17 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 4 | 4 | 5 | 4 | 3 | 2 | 1 | 1 | 7 | 2 | 2 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 1 | 1 | 5 | 2 | 3 | 4 | 4 | 5 | 11 | 28 | 15 |
| Total Liabilities | 6 | 6 | 11 | 13 | 23 | 22 | 23 | 22 | 33 | 46 | 34 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2 | 4 | 3 | 7 | 7 | 10 | 11 | 17 | 22 | 25 | 0 |
| Total Current Assets | 4 | 2 | 8 | 5 | 15 | 12 | 12 | 5 | 11 | 21 | 34 |
| Total Assets | 6 | 6 | 11 | 13 | 23 | 22 | 23 | 22 | 33 | 46 | 34 |
| #(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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | 0 | 2 | -2 | -0 | -9 | 3 | 1 | 7 | -1 | 8 | -0 |
| Cash Flow from Investing Activities | -0 | 0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Cash Flow from Financing Activities | -1 | -2 | 2 | 0 | 9 | -4 | -1 | -7 | 1 | -8 | 1 |
| Net Cash Inflow / Outflow | -0 | 0 | 0 | -0 | 0 | -0 | -0 | 0 | -0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 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) | 0.01 | 0.02 | 0.12 | 0.04 | -0.03 | -0.01 | -0 | -0.01 | -0.08 | 0.07 | 0.01 |
| CEPS(Rs) | 0.03 | 0.04 | 0.13 | 0.04 | -0.02 | -0 | -0 | -0.01 | -0.08 | 0.07 | 0.01 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0.61 | 0.63 | 0.75 | 0.84 | 1.08 | 1.08 | 1.08 | 1.07 | 0.99 | 1.06 | 1.07 |
| Core EBITDA Margin(%) | 1.11 | -0.76 | 0.42 | 0.35 | -0.81 | -2.66 | -0.89 | -6.47 | -30.57 | -6.91 | -9.1 |
| EBIT Margin(%) | 0.95 | 0.14 | 0.4 | 0.66 | -0.9 | -4.19 | -0.72 | -3.37 | -10.02 | 1.15 | 0.47 |
| Pre Tax Margin(%) | 0.04 | 0.14 | 0.39 | 0.66 | -0.94 | -4.21 | -0.95 | -4.07 | -10.02 | 1.15 | 0.44 |
| PAT Margin (%) | 0.04 | 0.14 | 0.28 | 0.49 | -0.94 | -4.16 | -1.07 | -4.07 | -10.02 | 1.15 | 0.43 |
| Cash Profit Margin (%) | 0.24 | 0.27 | 0.31 | 0.53 | -0.84 | -2.63 | -0.53 | -4.07 | -10.02 | 1.15 | 0.43 |
| ROA(%) | 0.1 | 0.61 | 2.25 | 2.69 | -2.36 | -0.41 | -0.13 | -0.37 | -4.57 | 2.82 | 0.42 |
| ROE(%) | 0.97 | 3.63 | 17.01 | 7.63 | -3.49 | -0.56 | -0.17 | -0.49 | -7.86 | 7.02 | 1.02 |
| ROCE(%) | 4.7 | 0.71 | 4.9 | 5.08 | -2.61 | -0.49 | -0.11 | -0.38 | -6.4 | 5.52 | 0.93 |
| Receivable days | 73.97 | 5.72 | 19.6 | 29.23 | 76.24 | 2140.8 | 1491.2 | 1203.95 | 174.75 | 49.13 | 83.05 |
| Inventory Days | 15.44 | 13.74 | 5.73 | 7.17 | 5.78 | 3.66 | 66.99 | 176.36 | 28.93 | 4.45 | 6.84 |
| Payable days | 83.07 | 10.51 | 15.04 | 18.1 | 18.46 | 0 | 429.6 | 652.54 | 167.05 | 57.69 | 103.33 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.44 | 49.54 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 2.65 | 1.02 | 1.62 | 1.1 | 0.74 | 0.64 | 0.5 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.23 | 0.2 | 0.08 | 0.14 | 1.06 | 8.42 | 10.58 | 9.44 | 1.42 | 0.13 | 0.34 |
| EV/Core EBITDA(x) | 19.79 | -131.53 | 18.94 | 19.89 | -133.98 | -316.58 | -5933.04 | -279.83 | -14.19 | -8.14 | 99.46 |
| Net Sales Growth(%) | 41.25 | 10.33 | 167.1 | -4.34 | -31.84 | -94.93 | 19.5 | -25.44 | 525.99 | 673.79 | -59.04 |
| EBIT Growth(%) | -35.45 | -83.25 | 638.29 | 58.91 | -192.79 | 76.38 | 79.5 | -250.3 | -1758.43 | 188.91 | -83.18 |
| PAT Growth(%) | 3166.67 | 266.33 | 422.22 | 68.99 | -231.63 | 77.58 | 69.23 | -183.63 | -1439.58 | 188.91 | -84.85 |
| EPS Growth(%) | 3166.67 | 266.33 | 422.22 | -68.08 | -171.93 | 77.7 | 68.33 | -178.95 | -1428.3 | 188.89 | -84.86 |
| Debt/Equity(x) | 4.38 | 4.07 | 3.95 | 0.54 | 0.16 | 0.12 | 0.08 | 0.04 | 0.43 | 0.13 | 0.31 |
| Current Ratio(x) | 4.68 | 2.69 | 1.62 | 3.21 | 4.91 | 3.28 | 2.63 | 1.15 | 1.03 | 0.76 | 2.2 |
| Quick Ratio(x) | 3.52 | 1.2 | 1.39 | 2.38 | 4.91 | 3.27 | 2.42 | 0.94 | 0.94 | 0.71 | 2.19 |
| Interest Cover(x) | 1.05 | 52.29 | 120.54 | 280.24 | -19.39 | -168.99 | -3.11 | -4.83 | 0 | 0 | 13.05 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0.06 | 0.11 | 0.05 | 0.04 | 0.58 | 0.2 | 0.62 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 54.64 | 0.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 45.36 | 99.1 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 8.48 | 0.14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 7.04 | 15.38 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -59% | +171% | +82% | +6% |
| Operating Profit CAGR | — | — | — | — |
| PAT CAGR | -100% | — | — | — |
| Share Price CAGR | -22% | -12% | -12% | — |
| ROE Average | +1% | 0% | 0% | +2% |
| ROCE Average | +1% | 0% | 0% | +1% |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 54.64 | 0.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 45.36 | 99.1 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 8.48 | 0.14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 7.04 | 15.38 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 | 15.52 |
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