NSE: BUILDPRO · BSE: 544517
SHANKARA BUILDPRO LIMITED
Distributes and markets building materials through a network of fulfilment centres, primarily for construction and infrastructure customers. Steel is the lead category, with FY26 volumes of 10.16 lakh tonnes spanning steel products and steel tubes & pipes (7 lakh tonnes in FY26), sold to contractors, infrastructure developers, and retailers. The non-steel portfolio covers tiles, plastic pipes (CPVC/PVC/UPVC), electrical, paints, and plumbing/fittings/sanitaryware, which ran at just under 10% of FY26 revenue and is targeted at ₹750 crore in FY27. Distribution is being expanded through new fulfilment centres—three opened in Vasai, Trichur, and Bangalore—with 7-10 more planned for FY27 at ₹15-20 crore in capex. E-commerce revenue grew to ₹22 crore in FY26 and is targeted at ₹35 crore in FY27. The disclosed cost structure shows employee cost at 0.8% of revenue, other operating expenses at 1.3%, and capex at 0.1% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Steel (steel products and steel tubes & pipes), Non-steel building materials (10%), E-commerce. Asset-light, low-margin building materials distribution; cyclical exposure to construction and infrastructure spending
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 6,826 |
| EBITDA (ex other income) | 224 |
| margin % | 3.3 |
| Owners' profit | 128 |
| EPS, as reported (₹) | 52.77 |
| ROE % · ROCE % | 23.4 · 39.6 |
| Debt / equity (x) | 0.11 |
| Cash from operations | 50 |
| Capex | (9) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue | 1,595 | 1,666 | 1,996 | 1,890 |
| Profit before tax | 39 | 38 | 55 | 48 |
| Net profit | 29 | 25 | 42 | 36 |
| EPS (₹) | 12.12 | 10.31 | 17.12 | 14.76 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 4.0 | 13.9 | 19 of 130 | 86% |
| P/B | 1.0 | 0.9 | 77 of 150 | 49% |
| ROCE | 31.8 | 2.1 | 5 of 177 | 98% |
| ROE | 23.4 | 2.3 | 6 of 158 | 97% |
| Debt / Equity | 0.1 | 0.1 | 86 of 154 | 44% |
| EBITDA margin | 3.3 | 4.5 | 79 of 137 | 43% |
| Market cap | 528 | 21 | 9 of 179 | 96% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 15 Oct 2026 · CRISIL upgrades Shankara Buildpro credit rating | credit debt | medium | — | — |
| 13 Oct 2026 · Quarterly demat/remat certificate filed with BSE | compliance | minimal | — | — |
| 7 Oct 2026 · Record date fixed for 1:5 stock split on Oct 8 2026 | corporate actions | medium | — | — |
| 2 Oct 2026 · New ISIN activated for 1:5 stock split, record date Oct 8, 2026 | corporate actions | medium | — | — |
| 28 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 12 Sept 2026 · Shankara Buildpro sets Oct 8, 2026 as record date for 1:5 stock split | corporate actions | high | — | — |
| 11 Sept 2026 · Postal Ballot passed: Equity share face value split from Rs 10 to Rs 2 | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Newspaper ads confirming Postal Ballot Notice dispatch | compliance | minimal | — | — |
| 11 Aug 2026 · Postal Ballot: Sub-division of Equity Shares from Rs. 10 to Rs. 2 face value | 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.