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, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q2 FY27 |
|---|---|
| Revenue | 18 |
| Profit before tax | 5 |
| Net profit | — |
| EPS (₹) | 6.56 |
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 | 50,928 | 82.6 | 13.88 | 89.9 | 8.9 | 11.6 | — | 17.4 |
| SYRMA SGS TECHNOLOGY LTD | 28,107 | 66.7 | 8.54 | 51.9 | 7.0 | 8.8 | — | 9.7 |
| HONEYWELL AUTOMATION IND | 26,567 | 47.2 | 5.70 | — | 6.1 | 8.0 | — | 12.7 |
| JYOTI CNC AUTOMATION LTD | 23,195 | 72.1 | 11.59 | 45.5 | 16.8 | 19.2 | — | 21.4 |
| KAYNES TECHNOLOGY IND LTD | 21,672 | 62.6 | 4.55 | 39.1 | 7.6 | 9.8 | — | 15.6 |
| LMW LIMITED | 18,156 | 88.5 | 5.97 | 105.0 | 4.2 | 5.2 | 13.2 | 9.0 |
| LLOYDS ENGG WORK LIMITED | 12,923 | 49.1 | 4.30 | 66.7 | 4.2 | 3.9 | — | 11.0 |
| TEGA INDUSTRIES LIMITED | 12,688 | 445.6 | 3.72 | 51.2 | 4.2 | 5.4 | — | 3.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 34.1 | 25.6 | 80 of 130 | 39% |
| EBITDA margin | 30.7 | 11.0 | 6 of 137 | 96% |
| Market cap | 126 | 278 | 93 of 143 | 35% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Shining Tools appoints BlueChariot as investor relations adviser | general | low | — | — |
| 5 Nov 2026 · BSE fine over annual report submission; company seeks waiver | regulatory legal | medium | — | — |
| 5 Nov 2026 · IPO funds nearly fully deployed by September 2026 | compliance | minimal | — | — |
| 5 Nov 2026 · Standalone Sep 2026 half-year profit after tax Rs 371.04 lakh; operations consume cash | results | high | — | — |
| 5 Nov 2026 · Board approves standalone half-year results; operating cash outflow Rs 738.24 lakh | results | high | — | — |
| 2 Nov 2026 · Board meeting set for 5 November to approve September half-year results | results | low | — | — |
| 2 Nov 2026 · BSE fine for delayed submission of FY2026 annual report | regulatory legal | high | — | — |
| 30 Oct 2026 · Keyur Dhirubhai Sakhiya appointed Chief Financial Officer | management changes | high | — | — |
| 12 Oct 2026 · Compliance certificate for demat processing filed with BSE | compliance | minimal | — | — |
| 1 Oct 2026 · 13th AGM: All 3 resolutions passed unanimously; results filed | 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.