Operates a metals platform built on five pillars — manufacturing, branding, distribution, service-centre processing and an online marketplace. Distribution remains the largest revenue source, trading steel (~90% of mix) and non-steel commodities at 1-3% margins across SKUs. The service-centre vertical processes steel into cut-to-size products through 7 operational centres, each sized for 100,000 tons of throughput; the network is targeted to expand to 25 centres by 2029. Manufacturing now spans steel profiles and solar mounting structures, each backed by 200,000 tons of installed capacity, with EBITDA per ton currently at INR3,000-4,000 and targeted to rise to INR5,000-7,000 once backward integration into coated steel at Raipur commissions in roughly 18 months. The renewable-structures (solar) vertical carries an order book of INR285 crore plus a INR250 crore pipeline, and management is targeting INR550-600 crore of FY26 revenue from it. FY27 capex of INR400-500 crore sits within an INR1,500 crore envelope over 2-3 years, funded entirely from INR690 crore of net cash on the books with no equity dilution; annualised ROCE stands at about 23%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Distribution, Service-centre processing, Steel profiles manufacturing, Renewable (solar) structures. Trading-to-manufacturing transition with an asset-light distribution backbone and a service-centre-plus-solar-structure manufacturing build-out.
| ₹ crore · consolidated | FY19 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 3 | 2,683 | 5,856 | 6,315 |
| EBITDA (ex other income) | 0 | 62 | 103 | 137 |
| margin % | 4.8 | 2.3 | 1.8 | 2.2 |
| Owners' profit | 0 | 61 | 103 | 0 |
| EPS, as reported (₹) | 8.94 | 8.19 | 9.23 | 8.96 |
| ROE % · ROCE % | 7.3 · (3.1) | 5.6 · 8.5 | 8.6 · 14.6 | 7.0 · 11.9 |
| Debt / equity (x) | 0.00 | 0.17 | 0.57 | 0.14 |
| Cash from operations | — | (14) | (391) | 258 |
| Capex | — | (59) | (158) | (232) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,816 | 1,345 | 1,595 | 1,144 | 1,704 | 1,644 | 1,823 | 1,309 |
| Profit before tax | 22 | 37 | 42 | 43 | 33 | 14 | 54 | 58 |
| Net profit | 16 | 28 | 33 | 32 | 27 | 11 | 41 | 46 |
| EPS (₹) | 1.42 | 2.50 | 2.95 | 2.74 | 2.11 | 0.85 | 3.29 | 3.62 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LLOYDS ENTERPRISES LTD | 10,671 | 34.8 | 1.96 | 20.5 | 7.7 | 7.5 | 365.3 | 23.2 |
| SG MART LIMITED ◆ | 9,460 | 76.1 | 5.93 | 44.6 | 7.0 | 8.7 | — | 5.2 |
| NUPUR RECYCLERS LIMITED | 925 | 54.0 | 6.29 | 34.3 | 11.2 | 12.4 | — | 16.2 |
| BMW VENTURES LIMITED | 472 | 11.1 | 1.07 | — | 8.5 | 11.1 | — | 3.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 27 Aug 2026 · AGM Notice Dispatch Completed, Newspaper Advertisement Published | compliance | minimal | — | — |
| 25 Aug 2026 · SG Mart files BRSR for FY 2025-26 | general | low | — | — |
| 25 Aug 2026 · SG Mart Annual Report FY26: Revenue up 8%, EBITDA up 33% | results | high | — | — |
| 25 Aug 2026 · SG Mart 41st AGM on Sep 19, 2026 to consider board changes and auditor pay | board shareholder meetings | low | — | — |
| 25 Aug 2026 · AGM Notice Published - 41st AGM Scheduled for September 19 2026 | compliance | minimal | — | — |
| 28 Jul 2026 · Notice to shareholders on transfer of unclaimed shares to IEPF | compliance | minimal | — | — |
| 27 Jul 2026 · SG Mart begins commercial production at new Jaipur Unit | business updates | medium | — | — |
| 22 Jul 2026 · Transcript of Q1 FY27 earnings conference call | investor communications | medium | — | — |
| 21 Jul 2026 · SG Mart files newspaper ads of Q1 FY27 results | compliance | minimal | — | — |
| 20 Jul 2026 · Audio recording link of Q1 FY27 earnings conference call | investor communications | low | — | — |
| 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 |
| EMERGENT INDUSTRIAL SOLUTIONS |
| 183 |
| 80.7 |
| 6.30 |
| 53.5 |
| 4.4 |
| 5.8 |
| (3.4) |
| 1.8 |
| La Tim Metal & Industries Limi | 143 | 17.8 | 1.82 | 9.0 | 10.4 | 11.7 | (0.3) | 4.9 |
| BONLON INDUSTRIES LIMITED | 66 | 8.1 | 0.66 | 12.7 | 2.6 | 3.0 | 32.7 | 2.6 |
| ASHOKA METCAST LIMITED | 43 | 2.5 | 0.32 | 6.2 | 8.1 | 7.8 | (12.6) | 95.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 76.1 | 17.8 | 8 of 9 | 13% |
| P/B | 5.9 | 1.9 | 7 of 10 | 33% |
| ROCE | 8.8 | 7.7 | 4 of 10 | 67% |
| ROE | 7.0 | 7.3 | 6 of 10 | 44% |
| Debt / Equity | 0.1 | 0.3 | 4 of 10 | 67% |
| EBITDA margin | 5.2 | 4.7 | 4 of 10 | 67% |
| Revenue growth | 14.4 | 20.0 | 6 of 10 | 44% |
| Profit growth | 41.1 | 61.8 | 6 of 10 | 44% |
| Market cap | 9460 | 163 | 2 of 10 | 89% |
| 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.
