Sika Interplant Systems Ltd

Sika Interplant Systems Ltd

₹ 932 -5.06%
12 May - close price
About

Sika Interplant Systems Ltd is an engineering driven company focused on providing products, systems and services to Aerospace, Defence & Space and Automotive sectors in India.[1]

Key Points

Business Overview
SIKA is an engineering driven company focused on the Aerospace, Defence & Space (A&D) and Automotive sectors in India. Its main lines of business comprise: engineered projects & systems; interconnect solutions & electrical module integration, maintenance, repair & overhaul (MRO); and value-added distribution. It is also a qualified Indian Offset Partner with a license for defence production from the Government of India. [1]

  • Market Cap 1,975 Cr.
  • Current Price 932
  • High / Low 1,625 / 720
  • Stock P/E 54.1
  • Book Value 73.6
  • Dividend Yield 0.26 %
  • ROCE 35.2 %
  • ROE 26.0 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 25.6% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.6%
  • Debtor days have improved from 45.8 to 18.3 days.
  • Company's working capital requirements have reduced from 23.4 days to 12.6 days

Cons

  • Stock is trading at 12.7 times its book value

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
18.84 24.62 18.26 26.00 37.16 30.42 33.24 37.98 43.92 68.01 51.58 50.31 41.33
16.17 20.55 14.40 20.62 30.52 24.27 26.36 30.13 35.30 55.50 40.94 38.72 30.89
Operating Profit 2.67 4.07 3.86 5.38 6.64 6.15 6.88 7.85 8.62 12.51 10.64 11.59 10.44
OPM % 14.17% 16.53% 21.14% 20.69% 17.87% 20.22% 20.70% 20.67% 19.63% 18.39% 20.63% 23.04% 25.26%
0.80 0.98 3.03 1.28 1.24 1.15 1.30 1.30 1.84 1.73 1.45 1.43 0.47
Interest 0.05 0.04 0.02 0.08 0.02 0.04 0.05 0.02 0.07 0.14 0.13 0.09 0.13
Depreciation 0.18 0.21 0.14 0.22 0.25 0.19 0.22 0.27 0.30 0.23 0.23 0.24 0.26
Profit before tax 3.24 4.80 6.73 6.36 7.61 7.07 7.91 8.86 10.09 13.87 11.73 12.69 10.52
Tax % 32.72% 25.21% 25.11% 25.16% 19.84% 25.18% 23.77% 25.17% 18.43% 25.16% 25.15% 25.14% 25.10%
2.17 3.59 5.03 4.76 6.10 5.29 6.02 6.63 8.22 10.38 8.78 9.50 7.88
EPS in Rs 1.02 1.69 2.37 2.25 2.88 2.50 2.84 3.13 3.88 4.90 4.14 4.48 3.72
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
30 41 34 22 46 63 80 98 60 106 146 211
27 38 31 20 39 54 65 78 50 86 116 166
Operating Profit 2 3 3 2 6 9 15 20 10 20 30 45
OPM % 8% 8% 8% 10% 13% 14% 18% 20% 17% 19% 20% 21%
1 1 1 1 1 1 2 3 3 7 5 5
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 0 1 1 1 1 1 1 1 1 1 1
Profit before tax 2 3 3 2 6 9 16 22 12 26 33 49
Tax % 33% 33% 36% 25% 28% 23% 25% 26% 28% 24% 23% 25%
2 2 2 1 4 7 12 17 9 20 26 37
EPS in Rs 0.74 0.90 0.83 0.68 2.05 3.39 5.63 7.86 4.21 9.22 12.14 17.23
Dividend Payout % 22% 18% 19% 23% 8% 6% 14% 10% 19% 22% 20% 20%
Compounded Sales Growth
10 Years: 18%
5 Years: 22%
3 Years: 52%
TTM: 45%
Compounded Profit Growth
10 Years: 34%
5 Years: 26%
3 Years: 61%
TTM: 44%
Stock Price CAGR
10 Years: 44%
5 Years: 74%
3 Years: 102%
1 Year: 27%
Return on Equity
10 Years: 18%
5 Years: 21%
3 Years: 23%
Last Year: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 4 4 4 4 4 4 4 4 4 4 4 4
Reserves 35 36 38 39 42 48 60 74 81 99 120 152
3 3 2 3 1 0 0 0 0 0 0 0
2 11 4 3 15 16 15 19 17 18 29 20
Total Liabilities 44 54 49 49 63 69 80 98 103 122 153 176
34 35 37 36 36 36 35 35 35 42 44 43
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 2 2 5 4 10 20 3 11 22 32 40 83
8 17 7 8 17 12 41 52 46 47 69 50
Total Assets 44 54 49 49 63 69 80 98 103 122 153 176

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1 3 5 -0 10 12 8 16 -3 20 5 47
-1 -1 -5 0 -6 -11 -8 -14 5 -18 -1 -40
-1 -1 0 -1 -1 -1 -1 -2 -2 -2 -4 -6
Net Cash Flow -2 1 1 -1 2 0 -1 0 -0 -0 0 1
Free Cash Flow -0 2 3 -0 9 11 8 16 -4 13 3 47
CFO/OP 59% 122% 224% 15% 183% 153% 84% 110% 1% 130% 46% 131%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 19 94 15 51 81 9 25 25 76 37 82 18
Inventory Days 25 11 22 46 10 35 3 22 71 12 29 3
Days Payable 8 95 16 21 67 20 40 37 85 43 72 16
Cash Conversion Cycle 36 11 21 76 25 24 -12 10 62 7 39 6
Working Capital Days -6 -10 -10 22 -21 -47 -18 -14 38 9 48 13
ROCE % 6% 8% 7% 5% 14% 20% 27% 32% 15% 26% 29% 35%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
R&D Expenditure
INR Lakhs

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Year-end Headcount (Permanent Employees)
number
Closing Order Book
INR Lakhs
Fresh Orders Received during the year
INR Lakhs
Design Approvals Held
status

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
71.72% 71.72% 71.72% 71.72% 71.72% 71.72% 71.72% 71.72% 71.72% 71.72% 71.72% 71.72%
1.58% 2.42% 2.60% 2.64% 2.77% 2.77% 2.77% 3.11% 3.11% 3.14% 3.14% 3.21%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.04% 0.04%
26.69% 25.85% 25.68% 25.64% 25.50% 25.51% 25.51% 25.15% 25.15% 25.13% 25.10% 25.04%
No. of Shareholders 6,3896,4046,9077,50210,81314,55214,92815,73325,53426,74226,17125,730

* 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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