Sterling Tools Ltd
Established in 1979, STL manufactures and markets high tensile cold forged fasteners, primarily for the automobile industry. STL was founded by the first generation entrepreneur, Mr. Manohar Lal Aggarwal, and has thereafter been managed by his two sons, Mr. Anil Aggarwal and Mr. Atul Aggarwal.
- Market Cap ₹ 1,153 Cr.
- Current Price ₹ 319
- High / Low ₹ 744 / 265
- Stock P/E 19.8
- Book Value ₹ 138
- Dividend Yield 0.63 %
- ROCE 14.2 %
- ROE 12.3 %
- Face Value ₹ 2.00
Pros
- Debtor days have improved from 32.3 to 23.3 days.
Cons
- Company has a low return on equity of 12.4% over last 3 years.
* 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
Sector: Castings, Forgings & Fastners Industry: Fasteners
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
372 | 371 | 453 | 512 | 364 | 355 | 510 | 772 | 932 | 1,026 | |
311 | 295 | 362 | 426 | 304 | 293 | 444 | 674 | 824 | 917 | |
Operating Profit | 61 | 76 | 91 | 86 | 60 | 62 | 66 | 98 | 108 | 110 |
OPM % | 16% | 20% | 20% | 17% | 17% | 17% | 13% | 13% | 12% | 11% |
1 | 7 | 6 | 7 | 6 | 2 | 3 | 6 | 7 | 12 | |
Interest | 6 | 6 | 4 | 4 | 6 | 8 | 7 | 9 | 9 | 10 |
Depreciation | 13 | 17 | 18 | 19 | 24 | 26 | 27 | 32 | 33 | 35 |
Profit before tax | 43 | 60 | 75 | 70 | 36 | 30 | 35 | 63 | 72 | 77 |
Tax % | 35% | 35% | 35% | 35% | 15% | 23% | 27% | 24% | 23% | 24% |
28 | 39 | 49 | 45 | 30 | 24 | 26 | 48 | 55 | 58 | |
EPS in Rs | 8.20 | 11.43 | 13.62 | 12.52 | 8.47 | 6.53 | 7.09 | 13.29 | 15.37 | 16.11 |
Dividend Payout % | 37% | 17% | 7% | 16% | 24% | 15% | 14% | 15% | 13% | 16% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 23% |
3 Years: | 26% |
TTM: | 10% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 14% |
3 Years: | 33% |
TTM: | 7% |
Stock Price CAGR | |
---|---|
10 Years: | 18% |
5 Years: | 23% |
3 Years: | 22% |
1 Year: | -11% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 11% |
3 Years: | 12% |
Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
Reserves | 122 | 153 | 237 | 273 | 299 | 324 | 349 | 393 | 440 | 492 |
69 | 40 | 34 | 99 | 75 | 105 | 126 | 133 | 118 | 155 | |
48 | 67 | 72 | 78 | 63 | 79 | 83 | 122 | 145 | 136 | |
Total Liabilities | 246 | 267 | 351 | 458 | 444 | 516 | 565 | 656 | 710 | 791 |
139 | 165 | 159 | 192 | 263 | 257 | 280 | 275 | 278 | 325 | |
CWIP | 1 | 0 | 10 | 47 | 1 | 0 | 1 | 11 | 7 | 7 |
Investments | 0 | 1 | 56 | 56 | 17 | 26 | 23 | 20 | 12 | 15 |
107 | 101 | 126 | 163 | 163 | 233 | 260 | 349 | 414 | 444 | |
Total Assets | 246 | 267 | 351 | 458 | 444 | 516 | 565 | 656 | 710 | 791 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
56 | 59 | 47 | 43 | 53 | 16 | 25 | 63 | 102 | 124 | |
-26 | -25 | -75 | -92 | 2 | -49 | -39 | -53 | -49 | -125 | |
-21 | -42 | 26 | 52 | -42 | 23 | 10 | -6 | -33 | 0 | |
Net Cash Flow | 9 | -8 | -1 | 3 | 12 | -11 | -4 | 4 | 20 | -1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 36 | 34 | 37 | 29 | 28 | 43 | 45 | 38 | 35 | 23 |
Inventory Days | 105 | 125 | 118 | 146 | 158 | 330 | 189 | 153 | 133 | 124 |
Days Payable | 69 | 78 | 79 | 58 | 56 | 92 | 52 | 55 | 56 | 44 |
Cash Conversion Cycle | 72 | 81 | 76 | 117 | 130 | 281 | 182 | 137 | 112 | 103 |
Working Capital Days | 43 | 43 | 51 | 62 | 83 | 147 | 125 | 91 | 73 | 67 |
ROCE % | 31% | 32% | 22% | 11% | 9% | 9% | 13% | 15% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
16h - Sterling Tools reports INR1,038 Cr revenue FY25, capex INR59 Cr, net debt-free, diversifies into EV components and power electronics.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 May - Audio recording of Q4 FY25 earnings call made available on company website.
- Copies Of Newspaper Publication Of Extracts Of Standalone And Consolidated Audited Financial Results For The Fourth Quarter And Financial Year Ended 31 March 2025 14 May
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Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
13 May - Sterling Tools' subsidiary licensed UK tech to make magnet-free EV traction motors in India.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
13 May - Sterling Tools signs tech license with UK firm for magnet-free EV motors, boosting local EV supply chain.
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
from nse
Concalls
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT REC
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May 2024Transcript PPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
Market Position
The company is India's 2nd largest automotive fastener manufacturer. Its WoS Sterling Gtake E-Mobility Ltd (SGEM) is the largest Motor Control Unit (MCU) manufacturer for the Electric Vehicle industry in India. [1] [2] In the high-speed scooter segment, SGEM commands a market share of ~50%. Overall, SGEM captures ~26% of the MCU market. [3]