Standard Engineering Technology Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Metal Equipment & Pumps: 63.5% • Glass Lined Equipment: 32.4% • PTFE Lined Equipment: 4.1%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company is almost debt free
- Company has consistently been profitable over the last 5 years
- Latest quarter profit grew 26.6% YoY, showing strong momentum
- Company comfortably covers its interest (11.3x coverage)
- Working capital cycle has improved - days down from 345 to 280
CONS
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.07x)
- Equity base is being diluted - shares outstanding up 1163.8%
- Total debt has risen sharply - up 46.9% year on year
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Expensive relative to growth - PEG of 6.9
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHEL | 430.60 | 61.64 | 149937.65 | 0.33 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| INDOMIM | 1018.90 | 94.43 | 50382.66 | 0.58 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| THERMAX | 3680.25 | 73.91 | 43852.50 | 0.54 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| HONAUT | 34514.05 | 55.37 | 30515.68 | 0.32 | 150.70 | 20.95 | 1204.40 | 1.80 | 17.04 | 14.32 |
| JYOTICNC | 987.95 | 69.84 | 22468.26 | 0.00 | 57.14 | -19.99 | 508.47 | 23.97 | 21.34 | 21.40 |
| INOXINDIA | 2245.75 | 80.12 | 20418.91 | 0.09 | 58.07 | -4.98 | 370.79 | 9.18 | 33.54 | 20.46 |
| AZAD | 2846.00 | 132.25 | 18379.96 | 0.00 | 35.16 | 19.46 | 172.60 | 25.90 | 12.04 | 37.29 |
| TRITURBINE | 569.10 | 53.80 | 18091.60 | 0.75 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| TEGA | 1731.10 | 615.52 | 13005.36 | 0.12 | -108.25 | -406.36 | 1723.44 | 383.99 | 8.37 | 3.27 |
| LLOYDSENGG | 82.72 | 57.36 | 12830.19 | 0.30 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| KRN | 1595.75 | 107.75 | 10445.54 | 0.00 | 32.90 | 164.84 | 252.32 | 118.87 | 16.06 | 19.44 |
| SETL | 468.10 | 109.19 | 9338.20 | 0.00 | 26.75 | 26.56 | 247.69 | 43.12 | 15.32 | 15.99 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 138 | 201 | 142 | 165 | 140 | 166 | 173 | 183 | 192 | 227 | 248 | |
| 115 | 170 | 118 | 132 | 114 | 143 | 144 | 154 | 162 | 195 | 216 | |
| Operating Profit | 23 | 32 | 24 | 34 | 26 | 24 | 30 | 29 | 29 | 32 | 32 |
| OPM % | 16.53% | 15.66% | 16.90% | 20.46% | 18.54% | 14.21% | 17.08% | 15.65% | 15.27% | 13.91% | 12.73% |
| 0 | 5 | 2 | 3 | 3 | 5 | 5 | 5 | 4 | 4 | 4 | |
| Interest | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 2 | 3 | 3 | 3 |
| Depreciation | 3 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 5 |
| Profit before Tax | 17 | 31 | 20 | 29 | 22 | 22 | 28 | 28 | 26 | 29 | 36 |
| Tax % | 26.73% | 22.01% | 24.66% | 28.77% | 26.33% | 25.87% | 25.77% | 26.23% | 22.97% | 26.17% | 25.77% |
| Net Profit | 0 | 0 | 0 | 0 | 16 | 16 | 21 | 20 | 20 | 21 | 27 |
| 0.67 | 1.34 | 0.82 | 1.07 | 0.82 | 0.76 | 1.05 | 1.01 | 0.96 | 0.99 | 1.32 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 240 | 498 | 544 | 614 | 774 | 849 | |
| 200 | 412 | 449 | 507 | 655 | 728 | |
| Operating Profit | 40 | 86 | 95 | 107 | 119 | 121 |
| OPM % | 16.85% | 17.24% | 17.46% | 17.39% | 15.37% | 14.25% |
| 1 | 2 | 6 | 13 | 19 | 18 | |
| Interest | 4 | 9 | 12 | 15 | 11 | 11 |
| Depreciation | 4 | 8 | 9 | 11 | 16 | 17 |
| Profit before Tax | 34 | 72 | 80 | 94 | 111 | 119 |
| Tax % | 25.54% | 25.65% | 24.80% | 26.61% | 25.33% | 25.35% |
| Net Profit | 25 | 53 | 60 | 69 | 83 | 89 |
| EPS | 2.22 | 3.49 | 32.14 | 3.23 | 4.01 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 14%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 26%
- 3 Years:
- 15%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 15 | 16 | 18 | 199 | 199 |
| Minority Interest | 0 | 0 | 2 | 6 | 9 |
| 54 | 140 | 389 | 507 | 589 | |
| 67 | 79 | 123 | 61 | 82 | |
| Trade Payables | 62 | 75 | 89 | 108 | 195 |
| 106 | 53 | 45 | 76 | 179 | |
| Total Liabilities | 305 | 362 | 665 | 958 | 1,254 |
| 52 | 75 | 96 | 136 | 183 | |
| Capital Work in Progress | 1 | 3 | 4 | 8 | 27 |
| 126 | 143 | 225 | 279 | 438 | |
| 0 | 0 | 155 | 214 | 256 | |
| Cash & Bank | 0 | 5 | 52 | 122 | 115 |
| 127 | 135 | 133 | 199 | 236 | |
| Total Assets | 305 | 362 | 665 | 958 | 1,254 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 1 | 22 | -65 | 5 | 45 | |
| Cash from Investing | -30 | -29 | -157 | -160 | -38 |
| Cash from Financing | 37 | 33 | 232 | 141 | -2 |
| 0 | 5 | 10 | -14 | 6 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-26 - Standard Engineering Technology Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-25 - Standard Engineering Technology Limited has informed the Exchange about General Updates
2026-08-24 - Standard Engineering Technology Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 18, 2026
2026-08-23 - Standard Engineering Technology Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-10 - Standard Engineering Technology Limited has informed the Exchange about Transcript
2026-08-10 - Standard Engineering Technology Limited has submitted the Exchange a copy Srutinizers report of Extraordinary General Meeting held on August 10, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-10 - Standard Engineering Technology Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on August 10, 2026
2026-08-07 - Standard Engineering Technology Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on August 10, 2026
2026-08-07 - Standard Engineering Technology Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for SETL
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