Sat Industries Ltd

₹ 89.2 3.00%

06 Jun - close price

About

Incorporated in 1985, Aeroflex Enterprises Ltd,
is in the business of general trading of merchandise, manufacturing of goods, leasing of assets, and financing^[1]

Key Points

Business Overview:^[1]^[2]^[3]^[4]
The company operates as a holding entity with interests across Manufacturing, Leasing, Finance, Investments, Domestic Trading, and Import & Export through its group companies. It also directly deals in stainless steel products via a contract manufacturing model, converting recyclable pellets into customizable SS wire rods for diverse industrial applications. It operates 10 subsidiaries, 6 business verticals, and investments across 35+ sectors—including stakes in over 160 startups—the company has built a broad and diversified business portfolio.

Website BSE NSE

Market Cap ₹ 1,009 Cr.
Current Price ₹ 89.2
High / Low ₹ 152 / 70.1
Stock P/E 98.3
Book Value ₹ 31.5
Dividend Yield 0.34 %
ROCE 4.41 %
ROE 2.92 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 180% CAGR over last 5 years

Cons

Stock is trading at 2.83 times its book value
The company has delivered a poor sales growth of -27.1% over past five years.
Company has a low return on equity of 3.89% over last 3 years.
Earnings include an other income of Rs.17.6 Cr.
Company has high debtors of 910 days.
Working capital days have increased from 1,346 days to 3,440 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 Iron & Steel Products

Part of BSE SmallCap BSE Allcap BSE Industrials

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	11.87	21.12	28.84	27.55	31.43	22.77	25.15	17.76	1.64	1.43	0.95	0.91	0.99
	11.26	19.66	27.61	24.81	30.20	20.49	24.55	16.84	1.53	0.90	0.99	2.23	1.22
Operating Profit	0.61	1.46	1.23	2.74	1.23	2.28	0.60	0.92	0.11	0.53	-0.04	-1.32	-0.23
OPM %	5.14%	6.91%	4.26%	9.95%	3.91%	10.01%	2.39%	5.18%	6.71%	37.06%	-4.21%	-145.05%	-23.23%
	2.24	0.32	4.03	1.87	0.31	71.45	187.05	6.00	5.12	4.78	6.99	2.92	2.95
Interest	0.01	0.44	0.52	1.41	0.51	0.00	0.54	0.61	0.53	0.18	0.42	0.09	0.02
Depreciation	0.09	0.14	0.14	0.24	0.14	0.13	0.13	0.12	0.12	0.16	0.16	-0.01	0.10
Profit before tax	2.75	1.20	4.60	2.96	0.89	73.60	186.98	6.19	4.58	4.97	6.37	1.52	2.60
Tax %	15.64%	42.50%	13.26%	13.51%	8.99%	21.70%	11.87%	30.21%	27.07%	24.95%	25.43%	-11.84%	96.54%
	2.31	0.69	3.99	2.56	0.81	57.62	164.78	4.33	3.35	3.73	4.75	1.70	0.09
EPS in Rs	0.20	0.06	0.35	0.23	0.07	5.10	14.57	0.38	0.30	0.33	0.42	0.15	0.01
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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 2022	Mar 2023	Mar 2024	Mar 2025
	14	9	48	48	52	34	21	6	19	107	67	4
	17	12	48	46	46	29	20	4	15	102	63	5
Operating Profit	-3	-3	0	2	6	5	0	2	4	5	4	-1
OPM %	-18%	-28%	1%	5%	11%	15%	2%	30%	19%	5%	6%	-25%
	0	-11	-0	12	0	0	1	0	4	6	270	18
Interest	0	0	0	0	0	0	0	0	1	2	2	1
Depreciation	0	0	0	0	0	0	0	0	1	1	1	0
Profit before tax	-2	-14	0	14	6	4	1	1	6	9	271	15
Tax %	-34%	0%	171%	1%	19%	25%	40%	35%	17%	16%	15%	34%
	-1	-14	-0	14	4	3	1	1	5	7	230	10
EPS in Rs	-0.38	-2.99	-0.05	1.39	0.42	0.31	0.05	0.08	0.45	0.66	20.34	0.91
Dividend Payout %	0%	0%	0%	0%	24%	32%	0%	129%	34%	30%	1%	0%

Compounded Sales Growth
10 Years:	-7%
5 Years:	-27%
3 Years:	-39%
TTM:	-94%

Compounded Profit Growth
10 Years:	21%
5 Years:	180%
3 Years:	79%
TTM:	-21%

Stock Price CAGR
10 Years:	36%
5 Years:	38%
3 Years:	34%
1 Year:	-4%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	4%
Last Year:	3%

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 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	8	9	11	20	22	22	23	23	23	23	23	23
Reserves	11	-4	1	56	69	70	84	85	93	98	325	334
	1	3	18	0	1	1	1	0	29	35	29	0
	0	0	35	22	14	9	10	4	65	10	8	3
Total Liabilities	20	8	64	98	104	102	118	113	209	165	385	359
	0	0	2	2	4	6	6	6	8	6	8	7
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	12	0	22	39	39	38	53	54	53	55	64	123
	8	8	40	57	61	58	59	53	149	103	313	229
Total Assets	20	8	64	98	104	102	118	113	209	165	385	359

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 2022	Mar 2023	Mar 2024	Mar 2025
	-1	-1	16	-27	-12	2	-1	5	0	15	-268	20
	1	-0	-23	-6	-2	-2	-14	-1	1	5	256	12
	0	4	7	36	13	-2	15	-0	-3	-5	-5	-32
Net Cash Flow	0	3	-0	3	-1	-1	-1	4	-1	15	-18	0

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 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	57	15	265	160	56	62	81	60	67	29	65	910
Inventory Days	0	0	0	0	0	0	0	3	113	15	0
Days Payable								75	134	29
Cash Conversion Cycle	57	15	265	160	56	62	81	-12	47	14	65	910
Working Capital Days	117	133	13	147	294	467	726	2,588	320	212	385	3,440
ROCE %	-13%	-16%	2%	4%	6%	5%	0%	1%	3%	5%	7%	4%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%
	0.00%	0.00%	0.89%	0.88%	1.97%	2.29%	0.75%	0.75%	1.11%	0.60%	0.56%	0.50%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.21%	0.21%	0.00%	0.00%	0.04%
	48.41%	48.42%	47.53%	47.52%	46.44%	46.12%	47.66%	47.45%	47.11%	47.81%	47.84%	47.88%
No. of Shareholders	3,361	3,457	5,085	5,822	6,958	16,588	24,970	28,519	33,216	42,081	43,125	43,045

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	49.32%	54.01%	54.01%	51.59%	51.59%	51.59%	51.59%	51.59%	51.59%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.88%	0.75%	0.50%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.21%	0.04%
	50.68%	45.99%	45.99%	48.41%	48.41%	48.41%	47.52%	47.45%	47.88%
No. of Shareholders	1,846	1,655	1,585	1,545	1,580	3,365	5,822	28,519	43,045

* 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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