Manufactures telecom towers and engineering steel structures at its units in Hapur, Uttar Pradesh, and also executes engineering, procurement and construction (EPC) projects. The Steel Structures segment, which makes up 65.7% of segment revenue at Rs 974.12 crore (FY26), is the larger contributor and also the more profitable, with segment EBIT of Rs 105.44 crore. The EPC Projects segment contributes the remaining 34.3% at Rs 509.35 crore in revenue and Rs 30.91 crore in EBIT, and has shown more variability across recent quarters including a loss in one quarter. The business runs on a raw-material-heavy cost base: materials account for 84.6% of revenue, employee costs 4.6%, other operating expenses 7.1%, and depreciation 1.7%. Capex runs at 4.5% of revenue. Operations have been affected by restricted LPG supply linked to the Middle East conflict, which has disrupted production, material deliveries, EPC business and exports to the Gulf region. Two amalgamation schemes are in process — EMC Limited has received NCLT approval to merge into the company, while Hill View Infrabuild Limited is awaiting shareholder and creditor approval through NCLT-convened meetings. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Steel Structures (66%), EPC Projects (34%). Cyclical, materials-heavy industrial manufacturing and EPC execution
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 719 | 1,005 | 1,208 | 1,447 | 1,503 |
| EBITDA (ex other income) | 69 | 91 | 122 | 104 | 112 |
| margin % | 9.6 | 9.1 | 10.1 | 7.2 | 7.5 |
| Owners' profit | 31 | 40 | 53 | 19 | 17 |
| EPS, as reported (₹) | 11.01 | 1.33 | 0.34 | 0.11 | 0.10 |
| ROE % · ROCE % | 11.1 · 19.2 | 10.0 · 19.0 | 11.7 · 23.0 | 2.4 · 11.0 | 2.1 · 10.9 |
| Debt / equity (x) | 0.88 | 0.68 | 0.77 | 0.40 | 0.50 |
| Cash from operations | 1 | (0) | 52 | (5) | 161 |
| Capex | (26) | 0 | (56) | (12) | (68) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 281 | 375 | 483 | 300 | 427 | 331 | 445 | 296 |
| Profit before tax | 12 | 16 | 5 | 12 | 24 | 8 | (3) | 4 |
| Net profit | 10 | 12 | (5) | 9 | 16 | 7 | (14) | 5 |
| EPS (₹) | 0.06 | 0.07 | (0.03) | 0.05 | 0.09 | 0.04 | (0.08) | 0.03 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Steel Structures | 974 | 63.8 |
| EPC Projects | 553 | 36.2 |
| Total, before eliminations | 1,527 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Notice of 25th AGM on September 30, 2026 via Video Conferencing | compliance | minimal | — | — |
| 7 Sept 2026 · Salasar Techno Engineering - 25th AGM notice published in newspapers | compliance | minimal | — | — |
| 5 Sept 2026 · Web link letter sent to shareholders for 25th AGM notice and FY26 annual report | compliance | minimal | — | — |
| 5 Sept 2026 · Salasar board re-appoints MD and WTDs, adds 2 independent directors | management changes | medium | — | — |
| 5 Sept 2026 · Annual Report FY 2025-26 submitted to exchanges | compliance | medium | — | — |
| 5 Sept 2026 · Salasar Techno files BRSR for FY26 | compliance | low | — | — |
| 5 Sept 2026 · Book closure Sep 24 to 30 for 25th AGM on Sep 30, 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 25th AGM on Sept 30, 2026 via video conferencing; e-voting Sept 26-29 | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 unaudited results | compliance | minimal | — | — |
| 13 Aug 2026 · Salasar Techno Q1 FY27 PAT slumps 42% YoY; EMC merger effective | results | high | — | — |
| 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 |
| 53.5 |
| 11.3 |
| 13.4 |
| — |
| 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 22,490 | 69.9 | 11.24 | 39.7 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 62.9 | 26.9 | 106 of 138 | 23% |
| P/B | 1.1 | 3.5 | 14 of 111 | 87% |
| ROCE | 4.6 | 11.3 | 108 of 144 | 25% |
| ROE | 2.1 | 9.5 | 98 of 117 | 16% |
| Debt / Equity | 0.5 | 0.2 | 88 of 117 | 25% |
| EBITDA margin | 8.6 | 12.4 | 77 of 110 | 30% |
| Revenue growth | (1.5) | 20.6 | 84 of 114 | 27% |
| Profit growth | (41.5) | 17.1 | 85 of 109 | 21% |
| Market cap | 879 | 356 | 46 of 140 | 68% |
| 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 |
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.
