BSE: 544607
SHINING TOOLS LIMITED
Manufactures carbide precision tools, including brazed carbide anvils, for industrial customers. Listed on the BSE SME platform on 14 November 2025 after a fixed price IPO that raised Rs.17.10 crores, the company has been deploying fresh capital into production capacity — Rs.8.89 crores into plant and machinery specifically for Carbide Precision Tools, Rs.3.85 crores into working capital, and Rs.2.48 crores for general corporate purposes. Revenue from operations reached Rs.1,829.49 lakhs in FY26, with profit after tax of Rs.389.03 lakhs and an EBITDA margin of 38.7%. The product line was underscored by a recent order from domestic buyer Chandan Process for 50 quintals of Brazed Carbide Anvils valued at Rs.2,00,60,000 (inclusive of 18% GST), payable 100% on delivery within 6 months. Raw materials are the largest input cost at 55.7% of revenue, followed by depreciation at 9.1% and employee costs at 9.7%. Capex ran at 44.5% of revenue in FY26, consistent with an active capacity build-out phase. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Carbide precision tools (including brazed carbide anvils). Recently-listed, asset-heavy, single-product-line precision tooling manufacturer
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 18 |
| EBITDA (ex other income) | 7 |
| margin % | 36.5 |
| Owners' profit | 4 |
| EPS, as reported (₹) | 8.23 |
| ROE % · ROCE % | 15.0 · 19.5 |
| Debt / equity (x) | 0.24 |
| Cash from operations | 1 |
| Capex | (8) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 8 | 10 |
| Profit before tax | 3 | 2 |
| Net profit | 2 | 2 |
| EPS (₹) | 4.42 | 3.87 |
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. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 41,226 | 85.6 | 21.97 | 71.1 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 32,878 | 88.7 | 10.73 | 57.2 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 30,567 | 55.7 | 6.85 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 25,263 | 78.6 | 12.62 | 44.4 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 24,468 | 70.7 | 5.14 | 34.6 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 18,474 | 105.7 | 6.44 | 59.9 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 16,022 | 562.7 | 4.70 | 48.5 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,553 | 49.3 | 7.46 | 51.2 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 18.1 | 26.8 | 45 of 138 | 68% |
| P/B | 3.3 | 3.3 | 55 of 111 | 51% |
| ROCE | 16.5 | 11.3 | 45 of 144 | 69% |
| ROE | 15.0 | 9.5 | 28 of 117 | 77% |
| Debt / Equity | 0.2 | 0.2 | 76 of 117 | 35% |
| EBITDA margin | 33.6 | 12.4 | 9 of 110 | 93% |
| Market cap | 85 | 348 | 103 of 140 | 27% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 19 Sept 2026 · Clarification on recent share price movement, no undisclosed info | compliance | minimal | — | — |
| 18 Sept 2026 · BSE seeks clarification on significant price movement | regulatory legal | high | — | — |
| 10 Sept 2026 · Shining Tools incorporates 55 percent subsidiary Shinvi Tools Limited | strategic transactions | medium | — | — |
| 9 Sept 2026 · Newspaper notice published for 13th AGM on 30 September 2026 | compliance | minimal | — | — |
| 8 Sept 2026 · Shining Tools 13th AGM on 30 Sep 2026 via video conferencing; annual report filed | board shareholder meetings | low | — | — |
| 8 Sept 2026 · 13th AGM on 30 Sep 2026 via VC; adopts FY25-26 results, RPT up to Rs 10 Cr | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Board approves Director's Report, sets 13th AGM on September 30 | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Board meeting outcomes: Director's Report approved, 13th AGM set for 30 Sep 2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Appointment of Secretarial Auditor for FY 2025-26 | management changes | low | — | — |
| 24 Aug 2026 · Shining Tools bags first export order worth USD 95,292 from China | business updates | high | — | — |
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.