BSE: 540727
Poojawestern Metaliks Limited
Manufactures and sells brass and metal products, including plumbing fittings, both directly and through a subsidiary that exports these fittings internationally. In FY26, the standalone business contributed Rs 5,477 lakh of revenue (up 6.5%) and exports flowed through subsidiary Sierra Metal Industries, taking consolidated revenue to Rs 7,456.55 lakh, a 48% rise year-on-year. Despite that revenue jump, consolidated net profit rose only 2.75% because raw materials account for 88.6% of revenue and EBITDA margins are around 6.9%. The standalone business saw a 43% drop in profit, and Q4 FY26 ended in a small consolidated loss of Rs 22.54 lakh. Another wholly owned subsidiary, Brasscraft Engineering, has not yet started operations. Long-term borrowings nearly tripled during the year, and the board has approved acquiring up to 51% in Singapore-based Saffron Feathers Pte Ltd to widen overseas reach. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Standalone operations, Sierra Metal Industries (subsidiary). Thin-margin, raw-material-intensive brass and metal products manufacturer with export exposure
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 21 | 31 | 61 | 50 | 75 |
| EBITDA (ex other income) | 2 | 3 | 4 | 4 | 4 |
| margin % | 9.2 | 10.0 | 6.7 | 7.1 | 5.1 |
| Owners' profit | 0 | 1 | 2 | 2 | 0 |
| EPS, as reported (₹) | 0.76 | 1.05 | 1.72 | 1.53 | 1.57 |
| ROE % · ROCE % | 6.9 · 10.9 | 8.7 · 16.6 | 13.4 · 25.2 | 11.5 · 24.6 | 10.5 · 20.8 |
| Debt / equity (x) | 1.12 | 1.16 | 1.32 | 1.55 | 1.51 |
| Cash from operations | 1 | 1 | (2) | 1 | 3 |
| Capex | (4) | (1) | (1) | (1) | (3) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 14 | 15 | 15 | 11 | 16 | 25 | 23 |
| Profit before tax | 0 | 1 | 0 | 1 | 1 | 1 | 1 | (0) |
| Net profit | 0 | 0 | 0 | 1 | — | 1 | 0 | (0) |
| EPS (₹) | 0.28 | 0.35 | 0.35 | 0.54 | 0.47 | 0.81 | 0.37 | 0.22 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| HBL ENGINEERING LTD | 22,455 | 24.3 | 10.14 | 19.3 | 36.8 | 45.3 | 29.4 | 26.2 |
| INOX INDIA LIMITED | 17,354 | 68.1 | 15.53 | 45.2 | 23.1 | 30.0 | — | 23.4 |
| ESAB INDIA LTD | 8,153 | 36.8 | 18.99 | — | 48.1 | 60.4 | — | 19.2 |
| HARSHA ENGINEERS INT LTD | 3,887 | 25.1 | 2.77 | 15.2 | 11.1 | 13.2 | — | 15.9 |
| W P I L LTD. | 3,868 | 24.5 | 1.97 | 11.1 | 10.2 | 13.1 | 13.3 | 17.7 |
| SUBROS LIMITED | 3,834 | 23.1 | 3.08 | 10.9 | 13.3 | 16.0 | 15.9 | 8.4 |
| ADOR WELDING LTD | 2,370 | 20.9 | 4.28 | 17.0 | 14.8 | 19.9 | 20.6 | 13.8 |
| DIFFUSION ENGINEERS LTD | 1,505 | 27.4 | 3.71 | 20.1 | 12.4 | 15.2 | — | 16.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.1 | 19.3 | 7 of 27 | 77% |
| P/B | 1.0 | 2.5 | 3 of 24 | 91% |
| ROCE | 12.6 | 12.3 | 14 of 31 | 57% |
| ROE | 10.5 | 10.3 | 12 of 24 | 52% |
| Debt / Equity | 1.5 | 0.2 | 22 of 24 | 9% |
| EBITDA margin | 1.8 | 10.8 | 21 of 23 | 9% |
| Revenue growth | 52.8 | (5.5) | 2 of 23 | 96% |
| Profit growth | (140.9) | (5.0) | 21 of 23 | 9% |
| Market cap | 15 | 103 | 30 of 31 | 3% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Reg 74(5) compliance certificate filed for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closure from Oct 1 for Q2/Half year results | compliance | minimal | — | — |
| 16 Sept 2026 · AGM approves new auditor and re-appoints two independent directors | management changes | medium | — | — |
| 16 Sept 2026 · Poojawestern Metaliks approves new auditor, re-appoints two independent directors | management changes | medium | — | — |
| 16 Sept 2026 · Poojawestern Metaliks 10th AGM: All 5 resolutions passed | compliance | minimal | — | — |
| 12 Sept 2026 · Poojawestern Metaliks 10th AGM proceedings held on September 12, 2026 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Annual Report 2025-26 link and 10th AGM schedule | compliance | low | — | — |
| 24 Aug 2026 · AGM notice and annual report dispatched for FY2025-26 | compliance | minimal | — | — |
| 20 Aug 2026 · Annual Report FY25-26 filed; AGM on Sept 12, 2026 | results | high | — | — |
| 20 Aug 2026 · 10th AGM on Sep 12, 2026 with 5 business items including auditor change | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.