BSE: 544506
SHARVAYA METALS LIMITED
Trades and processes aluminium, copper and zinc products, with materials accounting for 93.9% of FY26 revenue, indicating a metal-buying and resale or conversion business. The company is expanding into aluminium extrusion with a planned 8,000 MTPA capacity, financed largely through its September 2025 IPO of Rs 58.80 crore on the BSE SME platform. Revenue more than doubled year-on-year, from Rs 11,252 lakh in FY25 to Rs 22,983 lakh in FY26, while profit after tax declined slightly to Rs 1,167 lakh from Rs 1,251 lakh. Employee costs are unusually low at 0.4% of revenue, consistent with a trading-heavy model rather than a labour-intensive manufacturing one. The company is based in Ahilyanagar, Maharashtra, and is led by Managing Director Shreyans Katari. Operating cash flow turned negative in FY26, driven by build-ups in inventory and trade receivables tied to the revenue surge. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aluminium, copper and zinc products. Cyclical, raw-material-heavy metals trading and processing business with a new extrusion build-out.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 230 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 13.11 |
| ROE % · ROCE % | — · 22.4 |
| Debt / equity (x) | — |
| Cash from operations | (34) |
| Capex | (3) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 90 | 140 |
| Profit before tax | 13 | 3 |
| Net profit | — | — |
| EPS (₹) | 9.36 | 2.57 |
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. % |
|---|---|---|---|---|---|---|---|---|
| BELDING INDIA LIMITED | 1,197 | 348.9 | 1.14 | 241.7 | (0.3) | 0.1 | — | 19761.8 |
| PARMESHWAR METAL LIMITED | 393 | 9.8 | — | — | — | 42.2 | — | — |
| SHARVAYA METALS LIMITED ◆ | 200 | 16.8 | — | — | — | 20.2 | — | — |
| BARODA EXTRUSION LTD. | 189 | 18.6 | 7.56 | — | 29.4 | 36.5 | — | 7.7 |
| SHILP GRAVURES LTD. | 82 | 11.8 | 0.77 | 5.6 | 6.5 | 7.6 | 7.0 | 7.1 |
| AMCO INDIA LTD. | 27 | 18.9 | 0.71 | — | 0.9 | 1.3 | — | 5.4 |
| SAMPAT ALUMINIUM LIMITED | 27 | 4.3 | — | — | — | 11.4 | — | — |
| OM METALLOGIC LIMITED | 23 | 4.4 | — | — | — | 16.4 | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.8 | 11.8 | 6 of 9 | 38% |
| ROCE | 20.2 | 16.4 | 3 of 9 | 75% |
| Market cap | 200 | 82 | 3 of 9 | 75% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · EGM corrigendum updates preferential issue and warrant disclosures | fund raising | medium | — | — |
| 23 Oct 2026 · Sharvaya Metals EGM on capital increase, share swap and warrants | compliance | minimal | — | — |
| 15 Oct 2026 · EGM Nov 6: share swap to acquire Success Electronics, warrants issue | corporate actions | medium | — | — |
| 14 Oct 2026 · RTA certificate under SEBI Reg 74(5) for quarter ended Sept 30, 2026 | compliance | minimal | — | — |
| 14 Oct 2026 · Board okays warrants issue and share swap to acquire Success Electronics | fund raising | high | — | — |
| 14 Oct 2026 · Board approves warrants issue and share swap to acquire Success Electronics | fund raising | high | — | — |
| 14 Oct 2026 · Sharvaya Metals to issue warrants and acquire Success Electronics via share swap | fund raising | high | — | — |
| 14 Oct 2026 · Sharvaya Metals board approves acquiring Success Electronics via share swap | strategic transactions | high | — | — |
| 14 Oct 2026 · Board clears Success Electronics acquisition and INR 11.68 cr warrants issue | board shareholder meetings | low | — | — |
| 11 Oct 2026 · Board to consider fund raise, capital hike, acquisition on Oct 14 | fund raising | medium | — | — |
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.