Standard Engineering Technology Ltd.

•

standardengtech.comBSE: 544333NSE: SETL

Market Cap₹ 8,894 Cr.

Current Price

High / Low₹ 446 / 105

Stock P/E104.0

Book Value₹ 41

Price to Book2.67

Dividend Yield0.00 %

ROCE15.3 %

ROE11.1 %

Face Value₹ 10

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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 GENERATED

Capital Goods

Buy

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.

Confidence

72%

View full sector analysis →

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 6.6

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BHEL	432.00	61.84	150425.14	0.32	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1005.45	93.18	49717.58	0.59	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3641.75	73.13	43393.75	0.55	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34123.10	54.75	30170.02	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	1004.05	70.98	22834.42	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2295.95	81.91	20875.34	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2773.25	128.87	17910.13	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	561.25	53.05	17842.05	0.76	511.00	693.48	4427.00	1092.30	35.95	11.59
9.	TEGA	1721.30	612.04	12931.73	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	80.63	55.91	12506.03	0.31	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KENNAMET	4998.95	93.82	10986.81	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	SETL	445.85	104.00	8894.34	0.00	26.75	26.56	247.69	43.12	15.32	15.99

Detailed Comparison with:

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

Shareholding Pattern

Numbers in percentages

	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.41	60.41	60.41	60.47	60.47	60.47
	2.63	2.45	2.72	2.54	2.43	2.78
	2.21	0.98	1.10	0.77	0.35	0.20
Government	0.00	0.00	0.00	0.00	0.00	0.00
	34.75	36.15	35.78	36.24	36.75	36.56

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-26

Copy of Newspaper Publication

2026-08-26 - Standard Engineering Technology Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-25

General Updates

2026-08-25 - Standard Engineering Technology Limited has informed the Exchange about General Updates

2026-08-24

Shareholders meeting

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

Copy of Newspaper Publication

2026-08-23 - Standard Engineering Technology Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - Standard Engineering Technology Limited has informed the Exchange about Transcript

2026-08-10

Shareholders meeting

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

Shareholders meeting

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

Corrigendum

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

Copy of Newspaper Publication

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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Standard Engineering Technology Ltd.

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Free 5nance Account

Name

BHEL

432.00

61.84

150425.14

0.32

376.71

182.70

7697.72

40.29

9.24

6.69

INDOMIM

1005.45

93.18

49717.58

0.59

2401.22

—

12187.42

—

24.48

33.36

THERMAX

3641.75

73.13

43393.75

0.55

21.79

-85.61

2302.73

7.09

15.85

2.98

HONAUT

34123.10

54.75

30170.02

0.32

150.70

20.95

1204.40

1.80

17.04

14.32

JYOTICNC

1004.05

70.98

22834.42

0.00

57.14

-19.99

508.47

23.97

21.34

21.40

INOXINDIA

2295.95

81.91

20875.34

0.09

58.07

-4.98

370.79

9.18

33.54

20.46

AZAD

2773.25

128.87

17910.13

0.00

35.16

19.46

172.60

25.90

12.04

37.29

TRITURBINE

561.25

53.05

17842.05

0.76

511.00

693.48

4427.00

1092.30

35.95

11.59

TEGA

1721.30

612.04

12931.73

0.12

-108.25

-406.36

1723.44

383.99

8.37

3.27

LLOYDSENGG

80.63

55.91

12506.03

0.31

68.23

-77.28

527.15

142.92

17.99

15.04

KENNAMET

4998.95

93.82

10986.81

0.00

31.50

11.31

267.30

12.55

18.99

17.51

SETL

445.85

104.00

8894.34

0.00

26.75

26.56

247.69

43.12

15.32

15.99

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

OPM %

16.53%

15.66%

16.90%

20.46%

18.54%

14.21%

17.08%

15.65%

15.27%

13.91%

12.73%

Interest

Depreciation

Profit before Tax

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

0.67

1.34

0.82

1.07

0.82

0.76

1.05

1.01

0.96

0.99

1.32

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

107

119

121

OPM %

16.85%

17.24%

17.46%

17.39%

15.37%

14.25%

Interest

Depreciation

Profit before Tax

111

119

Tax %

25.54%

25.65%

24.80%

26.61%

25.33%

25.35%

Net Profit

EPS

2.22

3.49

32.14

3.23

4.01

—

Dividend Payout %

0.00%

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

199

Minority Interest

140

389

507

589

123

Trade Payables

108

195

106

179

Total Liabilities

305

362

665

958

1,254

136

183

Capital Work in Progress

126

143

225

279

438

155

214

256

Cash & Bank

122

115

127

135

133

199

236

Total Assets

305

362

665

958

1,254

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-65

Cash from Investing

-30

-29

-157

-160

-38

Cash from Financing

232

141

-2

-14

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

60.41

60.47

2.63

2.45

2.72

2.54

2.43

2.78

2.21

0.98

1.10

0.77

0.35

0.20

Government

0.00

34.75

36.15

35.78

36.24

36.75

36.56

Standard Engineering Technology Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Standard Engineering Technology Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI