Shetron Ltd.

•

shetron.comBSE: -NSE: SHETRON

Market Cap₹ 90 Cr.

Current Price

High / Low—

Stock P/E21.1

Book Value₹ 71

Price to Book1.34

Dividend Yield1.00 %

ROCE12.8 %

ROE6.6 %

Face Value₹ 10

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ABOUT

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

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.44x)
Company generates healthy free cash flow
Working capital cycle has improved - days down from 36 to 29
Company converts assets efficiently - asset turnover of 1.6x

CONS

Company has a low return on equity of 8.1% over last 3 years
Interest coverage is weak at 1.9x - earnings barely cover interest
Company has delivered a poor sales growth of 7.6% over past five years

* 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	430.60	61.64	149937.65	0.33	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1018.90	94.43	50382.66	0.58	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3680.25	73.91	43852.50	0.54	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34514.05	55.37	30515.68	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	987.95	69.84	22468.26	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2245.75	80.12	20418.91	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2846.00	132.25	18379.96	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	569.10	53.80	18091.60	0.75	51.10	-20.65	442.70	19.23	35.95	11.59
9.	TEGA	1731.10	615.52	13005.36	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	82.72	57.36	12830.19	0.30	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KRN	1595.75	107.75	10445.54	0.00	32.90	164.84	252.32	118.87	16.06	19.44
12.	SHETRON	100.15	74.52	90.17	1.00	18.90	1066.67	863.70	1155.56	12.77	6.62

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	79	60	50	52	65	58	52	55	69	60	56	61	86
	72	54	44	47	59	53	48	51	64	57	52	56	84
Operating Profit	7	5	6	5	5	5	4	4	5	4	4	5	3
OPM %	8.92%	9.17%	12.17%	9.12%	8.39%	8.08%	7.79%	7.28%	7.44%	6.44%	6.93%	8.75%	3.00%
	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	3	2	2	2	2	2	2	2	2	1	2	2	2
Depreciation	2	1	2	2	1	2	2	2	1	1	2	2	2
Profit before Tax	3	2	3	2	2	1	1	1	2	1	1	2	3
Tax %	27.08%	28.51%	29.88%	30.86%	20.31%	15.38%	69.23%	60.32%	30.77%	21.05%	59.78%	37.66%	32.26%
Net Profit	2	2	2	1	2	1	0	0	2	1	0	1	2
	2.24	1.81	1.96	1.24	1.70	1.22	0.22	0.28	1.80	1.17	0.41	1.07	2.10

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	149	168	165	162	171	226	245	240	229	246	264
	126	147	146	147	158	205	222	217	211	228	248
Operating Profit	22	21	19	16	12	21	22	23	18	18	16
OPM %	14.99%	12.36%	11.42%	9.69%	7.18%	9.37%	9.16%	9.62%	7.66%	7.41%	5.96%
	2	1	2	3	1	2	2	1	2	1	1
Interest	14	12	11	12	10	11	10	9	8	7	7
Depreciation	8	7	6	6	5	6	5	6	6	6	6
Profit before Tax	3	3	3	1	-2	7	9	9	5	6	7
Tax %	29.55%	33.09%	33.53%	22.12%	-10.61%	23.81%	30.23%	28.87%	34.61%	34.75%	35.11%
Net Profit	2	2	2	1	-2	5	6	7	3	4	4
EPS	0.00	0.00	0.00	0.00	-2.42	5.47	6.67	7.26	3.42	4.44	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.00%	13.78%	29.22%	22.50%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 8%
3 Years:: 0%

COMPOUNDED PROFIT GROWTH

10 Years:: 10%
5 Years:: —
3 Years:: -13%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 10%
3 Years:: 8%
Last Year:: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	9	9	9	9	9	9	9
	28	30	32	33	31	36	41	47	50	53
	73	74	76	78	76	65	68	61	42	38
Trade Payables	31	37	29	25	26	36	27	31	40	47
	23	10	9	5	5	7	5	9	11	11
Total Liabilities	165	159	155	150	147	153	150	157	151	157
	52	49	47	47	43	41	46	47	48	51
Capital Work in Progress	4	3	0	0	0	0	1	0	0	0
	4	4	4	0	0	0	0	0	0	0
	35	40	47	43	48	56	48	53	50	57
	0	0	0	0	0	0	0	31	32	31
Cash & Bank	11	5	5	6	7	6	6	6	6	5
	58	58	52	54	49	50	50	20	14	13
Total Assets	165	159	155	150	147	153	150	157	151	157

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17	24	-1	15	10	20	24	20	30	20
Cash from Investing	-4	1	-1	-1	-2	-3	-11	-7	-7	-9
Cash from Financing	-11	-19	14	-2	2	-5	1	-5	-15	-4
	2	-6	0	-0	0	-1	0	0	-0	-0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	64.18	64.18	64.18	64.18	64.18	64.22	64.64	64.78	64.82
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	35.82	35.82	35.82	35.82	35.82	35.78	35.35	35.22	35.18

Documents

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

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