Shigan Quantum Technologies Ltd
Incorporated in 2008, Shigan Quantum Technologies Ltd is in the business of manufacturing and providing services
of Alternate Fuel System Components
for CNG and LPG, mainly used by OEM
suppliers to auto industries[1]
- Market Cap ₹ 106 Cr.
- Current Price ₹ 52.2
- High / Low ₹ 129 / 52.0
- Stock P/E 15.6
- Book Value ₹ 46.8
- Dividend Yield 0.38 %
- ROCE 13.6 %
- ROE 10.4 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.11 times its book value
Cons
- Company has a low return on equity of 9.05% over last 3 years.
- Debtor days have increased from 43.8 to 67.8 days.
- Promoter holding has decreased over last 3 years: -3.89%
* 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.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 69 | 69 | 73 | 96 | 242 | 164 | 152 | 211 | 214 | |
| 64 | 63 | 67 | 89 | 225 | 153 | 139 | 191 | 196 | |
| Operating Profit | 5 | 6 | 6 | 7 | 17 | 10 | 13 | 20 | 18 |
| OPM % | 7% | 8% | 8% | 7% | 7% | 6% | 8% | 10% | 8% |
| 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 1 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 3 | 5 | 6 | 7 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 3 | 3 |
| Profit before tax | 4 | 4 | 4 | 5 | 13 | 5 | 7 | 11 | 9 |
| Tax % | 27% | 29% | 26% | 25% | 25% | 27% | 26% | 26% | |
| 3 | 3 | 3 | 4 | 10 | 4 | 5 | 8 | 7 | |
| EPS in Rs | 13.80 | 13.30 | 11.52 | 14.48 | 5.73 | 2.24 | 2.97 | 4.18 | 3.35 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% | -0% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | -5% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | -5% |
| TTM: | -13% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -15% |
| 1 Year: | -55% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 9% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 3 | 3 | 17 | 17 | 18 | 20 | 20 |
| Reserves | 4 | 6 | 11 | 15 | 32 | 36 | 53 | 73 | 75 |
| 7 | 7 | 7 | 9 | 22 | 35 | 45 | 54 | 58 | |
| 8 | 7 | 5 | 20 | 67 | 38 | 36 | 31 | 24 | |
| Total Liabilities | 21 | 22 | 25 | 46 | 138 | 127 | 152 | 177 | 177 |
| 2 | 2 | 2 | 3 | 7 | 15 | 17 | 16 | 17 | |
| CWIP | -0 | -0 | 3 | 3 | -0 | -0 | -0 | -0 | -0 |
| Investments | -0 | -0 | -0 | -0 | -0 | 5 | 5 | 6 | 6 |
| 19 | 20 | 19 | 40 | 132 | 106 | 129 | 154 | 154 | |
| Total Assets | 21 | 22 | 25 | 46 | 138 | 127 | 152 | 177 | 177 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 2 | 2 | 3 | 2 | -8 | 2 | -12 | -12 | |
| -1 | -0 | -5 | -1 | -2 | -16 | -5 | -3 | |
| -1 | -1 | 1 | 1 | 34 | 10 | 17 | 16 | |
| Net Cash Flow | 0 | 0 | 0 | 2 | 24 | -4 | -0 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 26 | 22 | 43 | 52 | 13 | 51 | 68 |
| Inventory Days | 53 | 112 | 93 | 69 | 110 | 178 | 186 | 128 |
| Days Payable | 38 | 43 | 19 | 85 | 87 | 90 | 103 | 65 |
| Cash Conversion Cycle | 58 | 95 | 95 | 26 | 76 | 101 | 133 | 132 |
| Working Capital Days | 22 | 35 | 40 | 40 | 27 | 67 | 110 | 98 |
| ROCE % | 38% | 28% | 27% | 32% | 11% | 12% | 14% |
Documents
Announcements
-
Analysts/Institutional Investor Meet/Con. Call Updates
27 November 2025 - Virtual analyst/investor meeting scheduled 2 December 2025 at 3:30 PM IST.
-
Change in Company Secretary/Compliance Officer
13 November 2025 - Board approved H1 (ended 30 Sep 2025) results: standalone revenue ₹10,856.49 lakh, PAT ₹258.05 lakh; new CS Sachin Dagar effective 14 Nov 2025.
-
Outcome of Board Meeting
13 November 2025 - Approved H1 (Sep 30, 2025) results: Revenue ₹108.74 crore, PAT ₹2.58 crore; new Company Secretary effective 14 Nov 2025.
-
General Updates
11 October 2025 - On 11-Oct-2025, subscribed Rs12 crore for 79,26,024 shares in Shigan Electronics.
-
Structural Digital Database
11 October 2025 - SDD compliance certificate for quarter ended September 30, 2025; no UPSI captured, no non-compliance.
Business Overview:[1]
SQTL is an alternative fuel system solution provider for automotive, locomotive and stationary engine applications. It is the only company in India which has completely indigenised BS-VI + OBD-II CNG fuel system to provide advanced technology, for Indian Automotive OE customers, through multipoint gas injection (MPGI) technology