Sarup Industries Ltd
Incorporated in 1979, Sarup Industries Ltd is a manufacturer of footwear including shoes and shoe uppers.
- Market Cap ₹ 54.5 Cr.
- Current Price ₹ 168
- High / Low ₹ 174 / 47.8
- Stock P/E 67.3
- Book Value ₹ -8.64
- Dividend Yield 0.00 %
- ROCE 5.25 %
- ROE %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -5.02% over past five years.
- Promoters have pledged or encumbered 28.9% of their holding.
- Company has high debtors of 218 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Footwear
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 59.39 | 69.52 | 49.12 | 49.66 | 43.90 | 19.66 | 20.66 | 9.94 | 12.13 | 9.14 | 11.57 | 15.97 | 17.76 | |
| 54.66 | 63.32 | 47.91 | 46.79 | 44.20 | 25.52 | 22.26 | 10.35 | 11.34 | 9.03 | 10.39 | 13.70 | 15.64 | |
| Operating Profit | 4.73 | 6.20 | 1.21 | 2.87 | -0.30 | -5.86 | -1.60 | -0.41 | 0.79 | 0.11 | 1.18 | 2.27 | 2.12 |
| OPM % | 7.96% | 8.92% | 2.46% | 5.78% | -0.68% | -29.81% | -7.74% | -4.12% | 6.51% | 1.20% | 10.20% | 14.21% | 11.94% |
| 0.09 | 0.25 | 0.14 | 1.46 | 1.34 | 0.42 | 0.11 | 0.07 | 0.13 | 0.56 | 0.04 | 4.19 | 0.02 | |
| Interest | 1.88 | 2.09 | 2.13 | 2.06 | 2.43 | 2.61 | 2.84 | 2.96 | 2.16 | 2.26 | 2.06 | 1.36 | 1.02 |
| Depreciation | 1.21 | 1.82 | 1.75 | 1.73 | 1.90 | 1.61 | 1.26 | 1.03 | 0.87 | 0.82 | 0.74 | 0.51 | 0.52 |
| Profit before tax | 1.73 | 2.54 | -2.53 | 0.54 | -3.29 | -9.66 | -5.59 | -4.33 | -2.11 | -2.41 | -1.58 | 4.59 | 0.60 |
| Tax % | 20.23% | 20.08% | -7.11% | 0.00% | -4.56% | -5.28% | -0.72% | 0.46% | 2.37% | 3.73% | 7.59% | -4.36% | |
| 1.38 | 2.03 | -2.36 | 0.54 | -3.13 | -9.15 | -5.55 | -4.35 | -2.17 | -2.50 | -1.70 | 4.79 | 0.81 | |
| EPS in Rs | 4.24 | 6.24 | -7.26 | 1.66 | -9.62 | -28.13 | -17.06 | -13.37 | -6.67 | -7.69 | -5.23 | 14.73 | 2.49 |
| Dividend Payout % | 42.39% | 28.82% | 0.00% | 60.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -14% |
| 5 Years: | -5% |
| 3 Years: | 10% |
| TTM: | 18% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -11% |
| 5 Years: | 16% |
| 3 Years: | 32% |
| TTM: | 224% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 53% |
| 3 Years: | 86% |
| 1 Year: | 234% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | % |
Balance Sheet
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 | 3.25 |
| Reserves | 24.36 | 21.51 | 19.07 | 19.19 | 15.75 | 6.60 | 0.01 | -4.34 | -6.51 | -9.00 | -11.03 | -6.26 | -6.06 |
| 12.90 | 16.59 | 30.06 | 34.73 | 37.67 | 39.24 | 38.17 | 42.14 | 39.08 | 39.46 | 42.98 | 36.78 | 39.07 | |
| 16.95 | 22.87 | 21.76 | 20.79 | 17.80 | 26.04 | 30.68 | 29.97 | 29.84 | 30.31 | 30.25 | 31.93 | 30.45 | |
| Total Liabilities | 57.46 | 64.22 | 74.14 | 77.96 | 74.47 | 75.13 | 72.11 | 71.02 | 65.66 | 64.02 | 65.45 | 65.70 | 66.71 |
| 12.46 | 17.09 | 15.05 | 15.07 | 13.39 | 11.86 | 10.74 | 9.74 | 9.15 | 8.33 | 7.02 | 4.66 | 5.34 | |
| CWIP | 0.26 | 0.35 | 10.41 | 13.09 | 13.09 | 15.71 | 16.00 | 16.03 | 16.03 | 16.03 | 0.00 | 0.00 | 0.00 |
| Investments | 0.43 | 0.43 | 0.43 | 0.71 | 0.71 | 0.40 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| 44.31 | 46.35 | 48.25 | 49.09 | 47.28 | 47.16 | 45.08 | 44.96 | 40.19 | 39.37 | 58.14 | 60.75 | 61.08 | |
| Total Assets | 57.46 | 64.22 | 74.14 | 77.96 | 74.47 | 75.13 | 72.11 | 71.02 | 65.66 | 64.02 | 65.45 | 65.70 | 66.71 |
Cash Flows
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1.02 | 5.30 | -1.70 | 1.43 | 4.59 | 5.13 | -2.65 | -1.15 | 5.45 | 1.65 | 15.03 | -2.28 | |
| -1.21 | -5.99 | -9.65 | -4.67 | -0.34 | -2.71 | -1.26 | -0.06 | -0.28 | 0.00 | -16.23 | 4.14 | |
| -3.08 | 1.17 | 10.97 | 2.85 | -4.06 | -2.44 | -2.68 | 1.10 | -5.12 | -1.84 | 1.55 | -1.37 | |
| Net Cash Flow | -3.27 | 0.47 | -0.39 | -0.38 | 0.19 | -0.02 | -6.59 | -0.11 | 0.04 | -0.19 | 0.35 | 0.49 |
Ratios
Figures in Rs. Crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 65.76 | 64.79 | 83.22 | 98.86 | 92.12 | 168.95 | 166.95 | 365.73 | 269.61 | 382.97 | 298.75 | 218.50 |
| Inventory Days | 331.27 | 272.88 | 361.44 | 403.35 | 525.59 | 866.98 | 842.29 | 1,694.02 | 1,208.62 | 1,745.00 | 2,839.33 | 2,294.94 |
| Days Payable | 125.76 | 83.26 | 131.29 | 152.95 | 136.33 | 314.02 | 397.16 | 791.71 | 670.35 | 1,097.14 | 1,013.67 | 870.27 |
| Cash Conversion Cycle | 271.27 | 254.41 | 313.37 | 349.25 | 481.39 | 721.91 | 612.08 | 1,268.05 | 807.88 | 1,030.83 | 2,124.41 | 1,643.17 |
| Working Capital Days | 101.04 | 74.82 | 99.35 | 231.60 | 133.11 | 146.48 | 34.45 | 307.35 | 123.07 | 92.25 | 688.04 | 637.89 |
| ROCE % | 8.87% | 11.31% | -0.85% | 4.73% | -1.95% | -13.33% | -6.08% | -3.32% | 0.13% | -0.43% | 1.39% | 5.25% |
Documents
Announcements
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Un-Audited Financial Reuslts For Quarter And Half Year Ended On 30.09.2025.
13 Nov - Board approved unaudited Q2 and H1 results; H1 net profit Rs24.21 lakh (30/09/2025).
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Board Meeting Outcome for Approved And Took On Record The
13 Nov - Board approved unaudited Q2/H1 results ended 30 Sep 2025; H1 net profit Rs24.21 lakh.
-
Board Meeting Intimation for Notice Of Board Meeting
6 Nov - Board meeting on Nov 13, 2025 to approve Q2/H1 Sep 30, 2025 results; trading window closed Oct 1–Nov 15, 2025.
-
Reply To Clarification On Price Movement Sought By BSE Limited
6 Nov - Company tells BSE price movement market-driven; reiterates compliance with SEBI LODR Regulation 30, dated 06.11.2025.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 30 Oct
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1]
Company is in the business of leather, tanneries and developing new products with wide range of uppers, soles, tanneries and complete shoes. Company manufactures export quality shoes in Northern India and also a supplier of international brands.