Smartlink Holdings Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2024 • Networking Products: 93.8% • Investment: 6.2%
AI Sector View
AI GENERATEDInformation Technology
IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.
PROS
- Company is almost debt free
- Latest quarter profit grew 157.8% YoY, showing strong momentum
- Company has delivered good sales growth of 30.8% CAGR over last 5 years
- Company has consistently been profitable over the last 5 years
- Company generates healthy free cash flow
- Stock looks reasonably valued - P/E of 13.8 is below its historical median
CONS
- A large part of profit comes from other income (60.0% of PBT)
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 5.9%
- Company has a low return on equity of 4.6% over last 3 years
- Company has delivered a poor profit growth of 5.1% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLINKINDIA | 433.95 | 14.36 | 1540.73 | 7.72 | 27.61 | 13.26 | 456.96 | 30.50 | 28.82 | 7.61 |
| SMARTLINK | 229.30 | 13.80 | 228.73 | 0.87 | 5.61 | 157.79 | 65.28 | 76.32 | 9.12 | 7.07 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 38 | 52 | 38 | 76 | 40 | 0 | 54 | 65 | 37 | 0 | 63 | 99 | 65 | |
| 39 | 49 | 41 | 67 | 42 | 56 | 53 | 65 | 36 | 69 | 62 | 91 | 62 | |
| Operating Profit | -0 | 3 | -3 | 9 | -2 | -1 | 1 | 1 | 1 | 2 | 1 | 9 | 5 |
| OPM % | -0.73% | 5.12% | -7.98% | 11.69% | -3.92% | — | 1.10% | 0.89% | 1.57% | — | 1.75% | 8.74% | 7.07% |
| Other Income | 0 | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 2 | 4 |
| Interest | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| -1 | 1 | -2 | 10 | -0 | 1 | 2 | 2 | 3 | 3 | 3 | 9 | 7 | |
| Tax % | 16.22% | 33.33% | 21.94% | 17.25% | -158.82% | 48.85% | -40.33% | -60.92% | 23.78% | 31.37% | 19.78% | 25.97% | 24.67% |
| Net Profit | 0 | 0 | 0 | 0 | -0 | 1 | 3 | 4 | 2 | 2 | 2 | 7 | 6 |
| -1 | 1 | -1 | 9 | -0 | 1 | 3 | 4 | 2 | 2 | 2 | 7 | 1 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 104 | 97 | 107 | 77 | 70 | 80 | 163 | 209 | 215 | 269 | 227 | |
| 108 | 96 | 104 | 83 | 60 | 70 | 158 | 195 | 216 | 257 | 283 | |
| Operating Profit | -5 | 1 | 3 | -6 | 11 | 10 | 5 | 14 | -1 | 12 | -56 |
| OPM % | -4.36% | 1.34% | 2.65% | -7.19% | 15.11% | 12.16% | 3.32% | 6.60% | -0.52% | 4.49% | -24.47% |
| 2 | 1 | 2 | -4 | 3 | 1 | 22 | 1 | 12 | 11 | 11 | |
| Interest | 0 | 0 | 2 | 3 | 1 | 1 | 2 | 2 | 2 | 1 | 1 |
| Depreciation | 2 | 2 | 3 | 3 | 3 | 2 | 3 | 3 | 4 | 4 | 4 |
| Profit before Tax | -5 | 0 | 0 | -15 | 9 | 7 | 23 | 9 | 5 | 18 | 22 |
| Tax % | -102.83% | 1356.10% | 1615.85% | 3.41% | -12.49% | -39.68% | 15.42% | 18.84% | -23.88% | 25.47% | 25.42% |
| Net Profit | -10 | -3 | -3 | -14 | 10 | 10 | 19 | 7 | 7 | 13 | 17 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 7.80 | 9.90 | 19.29 | 7.08 | 6.62 | 13.18 | — |
| Dividend Payout % | -46.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 15.18% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 6%
- 5 Years:
- 31%
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- 5%
- 3 Years:
- -12%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 15%
- 3 Years:
- 11%
- 1 Year:
- 53%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 6%
- 3 Years:
- 5%
- Last Year:
- 6%
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 | 5 | 5 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 2 |
| Minority Interest | 0 | 1 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| 320 | 312 | 252 | 180 | 191 | 163 | 182 | 188 | 194 | 208 | |
| 1 | 4 | 24 | 27 | 24 | 25 | 34 | 32 | 3 | 2 | |
| Trade Payables | 13 | 15 | 14 | 11 | 8 | 12 | 37 | 39 | 36 | 73 |
| 24 | 25 | 7 | 8 | 23 | 23 | 5 | 5 | 16 | 21 | |
| Total Liabilities | 363 | 361 | 300 | 229 | 248 | 225 | 259 | 265 | 252 | 306 |
| 22 | 21 | 25 | 34 | 18 | 19 | 22 | 16 | 16 | 17 | |
| Capital Work in Progress | 0 | 0 | 0 | 2 | 2 | 2 | 0 | 0 | 0 | 1 |
| 259 | 273 | 225 | 161 | 165 | 110 | 123 | 130 | 105 | 114 | |
| 29 | 15 | 17 | 10 | 7 | 14 | 33 | 22 | 30 | 34 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 57 | 57 | 89 | |
| Cash & Bank | 14 | 6 | 11 | 6 | 11 | 21 | 14 | 9 | 4 | 12 |
| 39 | 46 | 23 | 16 | 45 | 59 | 67 | 30 | 41 | 39 | |
| Total Assets | 363 | 361 | 300 | 229 | 248 | 225 | 259 | 265 | 252 | 306 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -34 | -5 | 59 | 76 | 3 | 43 | -22 | 7 | -6 | 15 | |
| Cash from Investing | 115 | 14 | -5 | -17 | -0 | -4 | 21 | -3 | 36 | -13 |
| Cash from Financing | -81 | -2 | -54 | -58 | -3 | -38 | 5 | -4 | -29 | -2 |
| -0 | 3 | -3 | -1 | 0 | 0 | -0 | 0 | 0 | -0 |
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
2026-08-05 - Smartlink Holdings Limited has informed the Exchange about Retirement of Mr. Pradeep Anant Rane (DIN 01446215) as Independent Director of the Company
2026-08-03 - Smartlink Holdings Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-01 - Smartlink Holdings Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 01, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-01 - Smartlink Holdings Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 01, 2026
2026-07-31 - Smartlink Holdings Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-11 - Smartlink Holdings Limited has informed the Exchange about Letters sent to shareholders
2026-07-09 - Smartlink Holdings Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-07-08 - Smartlink Holdings Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-07 - Smartlink Holdings Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 01, 2026
News
Recent coverage and analyst commentary for SMARTLINK
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