Systematic Industries Ltd

₹ 235 -3.29%

13 Nov - close price

systematicindustries.com BSE - SME: 544541

About

Incorporated in March 2000, Systematic Industries Limited operates in the steel wire industry, manufacturing and supplying steel wires and cables for power transmission, infrastructure, telecommunications, and agro-based sectors.^[1]

Key Points

Product Portfolio
a) Steel Wires^[1]^[2]
- Carbon Steel Wire (MS Wire)
- High Carbon Wire (HC Wire)
- Galvanised Iron (GI) Wire
- Cable Armour Wire
- Aluminium Conductor Steel-Reinforced (ACSR Core) Wire
- Aluminium Clad Steel (ACS) Wire
- Zinc-Aluminium Alloy coated wires (Galvasys Wires)

Website BSE

Market Cap ₹ 559 Cr.
Current Price ₹ 235
High / Low ₹ 299 / 125
Stock P/E 22.8
Book Value ₹ 95.9
Dividend Yield 0.00 %
ROCE 17.4 %
ROE 14.9 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has delivered good profit growth of 48.6% CAGR over last 5 years

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -0.53%
Company might be capitalizing the interest cost
Working capital days have increased from 51.4 days to 88.9 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

Industrials Capital Goods Industrial Products Cables - Electricals

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Detailed Comparison with:

Half Yearly Results

Figures in Rs. Crores

	Sep 2024	Mar 2025	Jun 2025	Sep 2025	Mar 2026	Jun 2026	Sep 2026
	165	282	282	254	299	299	311
YoY Sales growth				+54%	+6%	+6%	+23%
	151	261	261	236	280	280	290
Operating Profit	14	21	21	18	19	19	21
OPM %	8%	7%	7%	7%	6%	6%	7%
	1	2	2	2	2	2	1
Interest	4	4	4	5	1	1	2
Depreciation	1	3	3	3	3	3	3
Profit before tax	9	15	15	12	16	16	17
Tax %	27%	26%	26%	25%	25%	25%	25%
	7	11	11	9	12	12	13
EPS in Rs	4.05	6.70	6.70	4.16	5.25	5.25	5.71
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Profit & Loss

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	213	175	234	320	370	447	553	610
Sales growth		-18%	+34%	+37%	+16%	+21%	+24%	+10%
	204	169	225	307	346	412	516	570
Operating Profit	9	6	9	13	24	34	37	40
OPM %	4.3%	3.4%	3.8%	4.2%	7%	8%	7%	7%
	0	2	2	1	2	3	4	3
Interest	2	2	4	4	7	8	6	3
Depreciation	2	2	2	2	3	4	6	7
Profit before tax	5	4	5	8	17	24	28	33
Tax %	26%	25%	26%	25%	25%	26%	25%
	4	3	4	6	12	18	21	24
EPS in Rs	3.57	2.59	3.47	5.63	7.39	10.75	9.41	10.96
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	26%
3 Years:	20%
TTM:	24%

Compounded Profit Growth
10 Years:	%
5 Years:	49%
3 Years:	49%
TTM:	16%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	%
1 Year:	8%

Return on Equity
10 Years:	%
5 Years:	17%
3 Years:	19%
Last Year:	15%

Balance Sheet

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	0.66	0.66	0.66	0.66	0.99	17	22	22
Reserves	36	39	43	49	61	64	179	192
	25	29	36	62	79	99	10	64
	10	8	9	18	20	20	24	28
Total Liabilities	73	77	89	130	162	200	235	307
	10	13	11	27	26	61	58	74
CWIP	0	0	0	0	21	1	2	4
Investments	0	0	0	0	0	0	0	0
	63	65	78	104	115	139	175	229
Total Assets	73	77	89	130	162	200	235	307

Cash Flows

Figures in Rs. Crores

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-2	2	-1	-7	15	9	6
	-0	-4	-2	-15	-24	-19	-2
	3	1	3	22	10	13	5
Net Cash Flow	0	-0	0	0	0	2	8
Free Cash Flow	-4	-2	-1	-24	-8	-10	1
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-6%	54%	7%	-42%	72%	47%	36%

Ratios

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	62	65	62	66	51	65	51
Inventory Days	21	38	30	36	43	41	45
Days Payable	14	15	12	18	17	14	11
Cash Conversion Cycle	69	88	80	85	78	92	85
Working Capital Days	52	72	62	43	31	34	89
ROCE %		9%	12%	13%	19%	20%	17%

Insights

In beta

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Export Revenue Share
% of total sales

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		xx

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Infrastructure Revenue Share
% of total sales

Power and Transmission Revenue Share
% of total sales

Steel Wire Actual Production
MT

Steel Wire Capacity Utilization
%

Steel Wire Installed Capacity
MT

Top 10 Customer Revenue Concentration
% of total sales

Number of Export Countries
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2025	Mar 2026	Sep 2026	Nov 2026
	73.41%	73.42%	73.42%	72.89%
	2.55%	1.02%	0.81%	0.76%
	11.39%	8.97%	6.22%	6.12%
	12.65%	16.60%	19.54%	20.24%
No. of Shareholders	2,152	1,262	1,407	1,340

	Mar 2026	Nov 2026
	73.42%	72.89%
	1.02%	0.76%
	8.97%	6.12%
	16.60%	20.24%
No. of Shareholders	1,262	1,340

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

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Annual reports

DRHP

Concalls

Sep 2026

Transcript

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