String Metaverse Ltd

String Metaverse Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

String Metaverse Ltd

₹ 10.2 -4.78%
10 Jun 2:04 p.m.
stringmetaverse.com BSE: 534535
About

Incorporated in 1994, String Metaverse Ltd provides software development services related to gaming industry.[1]

Key Points

Business Overview:[1][2]
SML has transitioned from paper manufacturing into a next-generation global digital infrastructure and technology enterprise. It now focuses on integrated Web 3.0, online gaming, blockchain, and fintech solutions, enabling a decentralized, interoperable, and immersive digital ecosystem.

Website BSE
  • Market Cap ₹ 1,183 Cr.
  • Current Price ₹ 10.2
  • High / Low ₹ 32.4 / 7.20
  • Stock P/E 387
  • Book Value ₹ 1.41
  • Dividend Yield 0.00 %
  • ROCE 3.08 %
  • ROE 2.21 %
  • Face Value ₹ 1.00
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Pros

  • Company is almost debt free.
  • Debtor days have improved from 79.4 to 55.3 days.

Cons

  • Stock is trading at 7.22 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 1.46% over last 3 years.
  • Earnings include an other income of Rs.7.13 Cr.
  • Working capital days have increased from 148 days to 237 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Mar 2023 Jun 2023 Sep 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
0.00 0.00 0.00 0.00 0.00 2.45 2.56 3.24 4.10 2.58 3.13 3.35 3.88
0.10 0.06 0.67 0.00 0.00 0.83 3.75 3.19 2.88 1.54 2.19 2.13 4.91
Operating Profit -0.10 -0.06 -0.67 0.00 0.00 1.62 -1.19 0.05 1.22 1.04 0.94 1.22 -1.03
OPM % 66.12% -46.48% 1.54% 29.76% 40.31% 30.03% 36.42% -26.55%
0.00 0.00 0.00 0.00 0.00 0.01 0.09 0.55 0.20 0.21 0.60 0.31 6.02
Interest 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.30
Depreciation 0.14 0.14 0.08 0.08 0.08 0.46 0.46 0.63 0.67 0.96 1.01 1.39 1.61
Profit before tax -0.24 -0.20 -0.75 -0.08 -0.08 1.16 -1.57 -0.03 0.75 0.29 0.53 0.14 3.08
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 31.82%
-0.24 -0.20 -0.75 -0.08 -0.08 1.17 -1.56 -0.03 0.75 0.29 0.53 0.13 2.10
EPS in Rs -0.01 -0.00 -0.02 -0.00 -0.00 0.01 -0.01 -0.00 0.00 0.00 0.00 0.00 0.02
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6.14 3.80 2.75 0.43 0.23 1.66 1.26 0.00 0.00 4.38 12.35 12.94
4.93 2.88 1.86 1.06 2.14 2.01 1.40 3.01 0.84 2.69 10.63 10.75
Operating Profit 1.21 0.92 0.89 -0.63 -1.91 -0.35 -0.14 -3.01 -0.84 1.69 1.72 2.19
OPM % 19.71% 24.21% 32.36% -146.51% -830.43% -21.08% -11.11% 38.58% 13.93% 16.92%
0.00 0.00 0.00 0.00 0.00 0.94 0.11 0.00 0.00 0.19 0.85 7.13
Interest 0.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.04 0.31
Depreciation 0.89 0.89 0.88 0.88 0.88 0.60 0.60 0.59 0.58 1.18 2.21 4.97
Profit before tax 0.05 0.03 0.01 -1.51 -2.79 -0.01 -0.63 -3.60 -1.42 0.66 0.32 4.04
Tax % 0.00% 33.33% 0.00% 0.00% -4.30% -400.00% -9.52% -1.94% -3.52% 0.00% 0.00% 24.26%
0.04 0.02 0.01 -1.51 -2.66 0.03 -0.57 -3.53 -1.36 0.66 0.32 3.06
EPS in Rs 0.00 0.00 0.00 -0.10 -0.18 0.00 -0.01 -0.08 -0.03 0.01 0.00 0.03
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 17%
5 Years: %
3 Years: %
TTM: 5%
Compounded Profit Growth
10 Years: 77%
5 Years: 23%
3 Years: 62%
TTM: 856%
Stock Price CAGR
10 Years: 60%
5 Years: 115%
3 Years: %
1 Year: -35%
Return on Equity
10 Years: %
5 Years: %
3 Years: 1%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 8.00 8.00 8.00 8.00 8.00 25.82 25.82 25.82 25.82 96.96 106.96 116.43
Reserves 32.45 32.47 29.08 27.57 21.72 21.75 21.18 17.65 10.30 0.66 4.77 48.31
4.28 4.39 4.39 4.39 3.08 2.00 3.37 3.31 3.88 0.31 0.20 6.03
2.50 2.33 3.12 3.35 2.14 2.21 2.18 1.89 2.32 4.74 1.79 2.13
Total Liabilities 47.23 47.19 44.59 43.31 34.94 51.78 52.55 48.67 42.32 102.67 113.72 172.90
17.21 16.32 15.47 14.59 13.80 13.21 12.61 12.02 10.86 40.67 47.97 58.95
CWIP 9.15 10.69 10.69 10.69 10.69 10.69 10.69 10.56 10.56 0.00 4.28 0.54
Investments 2.49 2.49 2.49 2.49 0.00 17.81 17.81 17.81 17.81 36.03 41.79 101.59
18.38 17.69 15.94 15.54 10.45 10.07 11.44 8.28 3.09 25.97 19.68 11.82
Total Assets 47.23 47.19 44.59 43.31 34.94 51.78 52.55 48.67 42.32 102.67 113.72 172.90

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024 Mar 2025 Mar 2026
3.33 1.17 0.00 -0.35 -1.05 0.02 -0.03 -0.07 0.00 3.48 -8.97 12.48
-0.74 1.53 0.00 0.00 2.40 -17.83 0.00 0.12 0.00 -32.12 -18.79 -65.60
-2.59 -2.70 0.00 0.35 -1.31 17.81 0.00 -0.05 0.00 50.35 12.37 48.77
Net Cash Flow 0.00 0.00 0.00 0.00 0.04 0.01 -0.03 0.00 0.00 21.71 -15.40 -4.35
Free Cash Flow 2.59 2.70 0.00 -0.35 -1.13 0.01 -0.03 0.05 0.00 -4.77 -22.76 6.28
CFO/OP 275% 127% 0% 56% 55% -6% 21% 2% 0% 206% -522% 570%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 447.63 732.88 799.02 5,483.49 5,173.48 875.12 1,517.94 138.33 44.63 55.29
Inventory Days 780.22 949.34 1,544.01 1,722.96 574.18 607.13 3,242.06 3,248.50
Days Payable 0.00 0.00 0.00 0.00 2.13 0.00 0.00 219.00
Cash Conversion Cycle 1,227.85 1,682.22 2,343.03 7,206.45 5,745.53 875.12 2,125.07 138.33 44.63 55.29
Working Capital Days 646.18 978.78 1,007.40 5,823.02 9,299.57 1,453.40 1,981.43 -143.33 349.93 237.22
ROCE % 0.72% 0.07% 0.02% -3.71% -7.67% -2.31% -1.26% -7.41% 2.07% 0.34% 3.08%

Insights

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Mar 2020 Mar 2024 Aug 2025
Number of Permanent Employees
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Monthly Active Users (MAU)
Number
Total Gaming User Base
Number
Trade Receivables Turnover Ratio
Ratio
Active Product User Bases - Idlemine
Number
Active Product User Bases - String Arc8
Number
Active Product User Bases - String Drive
Number
Active Product User Bases - String Esports
Number
Active Product User Bases - String Games Portal
Number
Active Product User Bases - String Spin & Win
Number

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Shareholding Pattern

Numbers in percentages

Sep 2020Dec 2020Mar 2021Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Apr 2026
25.57% 25.57% 25.57% 25.57% 88.99% 89.02% 89.03% 81.79% 81.79% 81.79% 81.79% 78.52%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02% 0.00% 0.00% 0.00%
74.43% 74.43% 74.43% 74.43% 11.01% 10.97% 10.97% 18.20% 18.21% 18.21% 18.20% 21.48%
No. of Shareholders 2,3642,4002,4002,6052,4572,0222,2632,5203,6194,3505,0367,621

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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