Sika Interplant Systems Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2012 • Engineering Products, Projects & Services: 100.0%
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 has delivered good profit growth of 25.2% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 31.0%
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.0%
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 21.5% CAGR over last 5 years
CONS
- Stock is trading at 11.0x its book value
- Recurring exceptional / one-off items are inflating headline profit
- Rich enterprise valuation - EV/EBITDA of 33.1x
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HAL | 4955.00 | 35.55 | 331378.01 | 0.91 | 1589.66 | 14.88 | 5515.17 | 14.45 | 31.99 | 27.89 |
| BEL | 403.00 | 47.93 | 294584.09 | 0.62 | 1054.53 | 8.82 | 5546.98 | 24.94 | 36.68 | 25.22 |
| BDL | 1191.00 | 83.83 | 43657.59 | 0.41 | 118.79 | 547.36 | 572.24 | 147.63 | 13.91 | 14.52 |
| DATAPATTNS | 4774.10 | 3475.01 | 26727.31 | 0.21 | 220.60 | 765.10 | 1160.30 | 1068.13 | 23.18 | 27.04 |
| ASTRAMICRO | 1694.95 | 85.13 | 16092.70 | 0.14 | 12.35 | -24.12 | 176.66 | -11.55 | 20.29 | 20.40 |
| ZENTEC | 1749.35 | 87.67 | 15795.39 | 0.06 | 31.85 | -39.99 | 141.64 | -10.48 | 16.83 | 27.13 |
| AEQUS | 230.10 | 309.89 | 15432.02 | 0.00 | -532.28 | -6067.26 | 3955.45 | 1486.69 | 1.50 | 4.47 |
| APOLLO | 412.90 | 126.47 | 15343.34 | 0.06 | 252.16 | 1325.84 | 2512.93 | 1781.17 | 14.52 | 21.38 |
| PARAS | 1451.10 | 123.81 | 11694.03 | 0.07 | 20.74 | 45.34 | 127.91 | 37.26 | 18.68 | 24.95 |
| UNIMECH | 1570.20 | 110.97 | 7992.63 | 0.00 | 27.86 | 45.70 | 107.62 | 70.85 | 12.10 | 36.35 |
| AXISCADES | 1868.35 | 218.70 | 7946.74 | 0.00 | -14.76 | -170.76 | 183.35 | -24.77 | 14.56 | 4.73 |
| SIKA | 1026.20 | 62.78 | 2175.63 | 0.34 | 8.40 | -18.84 | 42.86 | -36.98 | 35.58 | 19.48 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 | 18 | 26 | 37 | 30 | 33 | 38 | 46 | 68 | 52 | 50 | 41 | 43 | |
| 21 | 14 | 21 | 31 | 24 | 26 | 30 | 38 | 56 | 41 | 39 | 31 | 35 | |
| Operating Profit | 4 | 4 | 5 | 7 | 6 | 7 | 8 | 8 | 13 | 11 | 12 | 10 | 8 |
| OPM % | 16.53% | 21.19% | 20.69% | 17.73% | 20.22% | 20.70% | 20.62% | 17.32% | 18.38% | 20.63% | 23.04% | 25.21% | 18.24% |
| 1 | 3 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 1 | 0 | 3 | |
| Interest | 0 | 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 | 0 |
| Profit before Tax | 5 | 7 | 6 | 8 | 7 | 8 | 9 | 10 | 14 | 12 | 13 | 10 | 10 |
| Tax % | 25.31% | 25.19% | 25.28% | 20.11% | 25.28% | 21.45% | 19.12% | 19.06% | 25.22% | 23.79% | 25.24% | 25.31% | 18.70% |
| Net Profit | 0 | 0 | 0 | 0 | 5 | 6 | 7 | 8 | 10 | 9 | 9 | 8 | 8 |
| 8.42 | 11.83 | 11.15 | 2.85 | 2.48 | 2.92 | 3.37 | 3.73 | 4.88 | 4.22 | 4.48 | 3.69 | 3.96 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 34 | 22 | 46 | 63 | 80 | 98 | 60 | 106 | 148 | 211 | 186 | |
| 32 | 20 | 39 | 54 | 64 | 78 | 50 | 86 | 118 | 166 | 146 | |
| Operating Profit | 3 | 2 | 6 | 9 | 15 | 20 | 10 | 20 | 29 | 46 | 40 |
| OPM % | 7.78% | 9.64% | 13.52% | 14.35% | 19.19% | 20.65% | 17.36% | 19.28% | 19.83% | 21.60% | 21.75% |
| 1 | 1 | 1 | 1 | 3 | 3 | 3 | 7 | 6 | 5 | 6 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 3 | 2 | 6 | 9 | 16 | 22 | 12 | 25 | 33 | 49 | 45 |
| Tax % | 34.21% | 24.17% | 28.79% | 23.44% | 24.74% | 25.70% | 27.66% | 23.70% | 23.42% | 25.21% | 23.38% |
| Net Profit | 2 | 1 | 4 | 7 | 12 | 17 | 9 | 19 | 25 | 36 | 35 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 27.93 | 39.01 | 20.73 | 45.90 | 11.74 | 17.32 | — |
| Dividend Payout % | 16.90% | 22.93% | 7.94% | 6.61% | 14.26% | 10.98% | 18.75% | 21.79% | 20.44% | 20.21% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 18%
- 5 Years:
- 22%
- 3 Years:
- 52%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 36%
- 5 Years:
- 25%
- 3 Years:
- 60%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 21%
- 3 Years:
- 23%
- Last Year:
- 26%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Minority Interest | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 |
| 38 | 39 | 42 | 48 | 60 | 74 | 81 | 99 | 120 | 151 | |
| 2 | 3 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 1 | 1 | 6 | 3 | 6 | 7 | 9 | 9 | 20 | 6 |
| 4 | 2 | 9 | 13 | 9 | 13 | 9 | 10 | 8 | 12 | |
| Total Liabilities | 50 | 50 | 64 | 70 | 81 | 98 | 103 | 122 | 152 | 174 |
| 37 | 37 | 37 | 37 | 37 | 36 | 36 | 43 | 45 | 44 | |
| Capital Work in Progress | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 3 | 3 | 8 | 19 | 2 | 9 | 20 | 30 | 38 | 81 | |
| 1 | 2 | 3 | 7 | 3 | 7 | 10 | 5 | 8 | 1 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11 | 32 | 11 | |
| Cash & Bank | 4 | 2 | 4 | 4 | 30 | 38 | 24 | 24 | 25 | 28 |
| 2 | 4 | 11 | 3 | 9 | 8 | 14 | 8 | 4 | 10 | |
| Total Assets | 50 | 50 | 64 | 70 | 81 | 98 | 103 | 122 | 152 | 174 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 1 | 10 | 13 | 12 | 22 | 0 | 20 | 8 | 47 | |
| Cash from Investing | -5 | 0 | -4 | -10 | -8 | -14 | 5 | -18 | -3 | -40 |
| Cash from Financing | 1 | -2 | -1 | -1 | -1 | -2 | -2 | -2 | -4 | -6 |
| 0 | -1 | 2 | 0 | -1 | 0 | -0 | -0 | 0 | 2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for SIKA
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