BSE: 543782
Sealmatic India Limited
Manufactures mechanical seals — primarily API 682 oil & gas seals and critical-application seals for nuclear, marine and high-pressure/high-temperature equipment. Sells through OEM/projects (52% of H1 FY26 revenue), legacy distribution (41%) and direct to end-users (7%); major customers include ADNOC, KSB, Sulzer, Sundyne, Ebara and Indian defense and BHEL. FY26 turnover was Rs. 103.07 crore versus Rs. 101.14 crore in FY25, while H1 FY26 revenue grew 23.4% year-on-year to Rs. 53.63 crore. Has cumulatively placed 490+ API seals across the GCC (UAE, Kuwait, Saudi Arabia, Oman, Iraq), with management guiding Rs. 15-25 crore of replacement revenue annually from FY27 over the 35-year equipment lifetime. Is building an Abu Dhabi JV service center (SealTech) targeted operational by Dec 2025; similar centers in Oman, Kuwait and Qatar are under discussion. Materials are the largest cost at 42.9% of FY26 revenue, followed by employees at 18.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. OEM/Projects (52%), Legacy distribution (41%), End user (7%). Small-cap industrial seal manufacturer, long-cycle qualified-supplier business with project subsidisation and a 35-year replacement annuity tail
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 103 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 8.85 |
| ROE % · ROCE % | — · 12.1 |
| Debt / equity (x) | — |
| Cash from operations | (1) |
| Capex | (5) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 54 | 49 |
| Profit before tax | 8 | 5 |
| Net profit | — | — |
| EPS (₹) | 6.61 | 3.35 |
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) | 42.1 | 19.3 | 24 of 27 | 12% |
| ROCE | 11.7 | 12.3 | 17 of 31 | 47% |
| Market cap | 456 | 103 | 11 of 31 | 67% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve half-year results on 30 October 2026 | results | low | — | — |
| 27 Oct 2026 · Board approves Rs 15.01 crore preferential issue at Rs 415 per share | fund raising | high | — | — |
| 21 Oct 2026 · Board to consider preferential fund raising on Oct 27 | board shareholder meetings | low | — | — |
| 21 Oct 2026 · Board meeting on Oct 27 to consider preferential fund raise | board shareholder meetings | low | — | — |
| 21 Oct 2026 · Board to consider preferential share issuance on Oct 27 | board shareholder meetings | low | — | — |
| 3 Oct 2026 · Quarterly compliance certificate for dematerialization of securities filed | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 ahead of half year results | compliance | minimal | — | — |
| 3 Aug 2026 · Video recording link of 17th AGM held on 24 July 2026 shared with BSE | investor communications | low | — | — |
| 24 Jul 2026 · New statutory auditor appointed for five-year term | management changes | medium | — | — |
| 24 Jul 2026 · Sealmatic India 17th AGM: All 5 resolutions passed, Rs 1.10 dividend approved | compliance | minimal | — | — |
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.