NSE: SIGIND · BSE: 512131
SIGNET INDUSTRIES LIMITED
Operates through three business segments — Trading, Manufacturing, and Windmill — that together produced Rs 1,346.79 crore of revenue in FY2026. Trading is the largest line at Rs 906.82 crore (67.3% of segment revenue) but operates on thin margins, with EBIT of just Rs 18.56 crore. Manufacturing generated Rs 439.05 crore (32.6% of segment revenue) at a materially higher EBIT of Rs 74.47 crore, indicating it is the more profitable line. The Windmill segment is negligible at Rs 0.92 crore (0.1% of segment revenue) and slightly loss-making. The manufacturing base is located at a plant in Pithampur, Dhar, which suffered a fire in April 2025 that destroyed Rs 4.99 crore of inventory, booked as an exceptional loss. Materials account for 14.8% of revenue, employee costs 2.7%, and other operating expenses 5.8%; finance costs of Rs 62.41 crore remain a heavy burden relative to operating profit. The company holds bank facilities of Rs 390 crore across UCO Bank, Union Bank of India, and Punjab National Bank, with a credit rating of IVR BBB/Stable reaffirmed in July 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading (67%), Manufacturing (33%), Windmill (0%). Trading-led services business with a higher-margin manufacturing arm and a marginal wind-energy line
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 877 | 1,018 | 1,213 | 1,179 | 1,347 |
| EBITDA (ex other income) | 62 | 69 | 84 | 88 | 93 |
| margin % | 7.0 | 6.8 | 6.9 | 7.5 | 6.9 |
| Owners' profit | 8 | 13 | 15 | 16 | 16 |
| EPS, as reported (₹) | 2.68 | 4.31 | 5.12 | 5.19 | 5.36 |
| ROE % · ROCE % | 4.2 · 19.1 | 6.3 · 22.5 | 7.0 · 28.7 | 6.7 · 29.1 | 6.5 · 29.9 |
| Debt / equity (x) | 1.57 | 1.50 | 1.52 | 1.66 | 1.86 |
| Cash from operations | 34 | 51 | 30 | 16 | 16 |
| Capex | (9) | (7) | (7) | (4) | (29) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 258 | 304 | 365 | 260 | 307 | 390 | 391 | 306 |
| Profit before tax | 4 | 6 | 11 | 1 | 5 | 7 | 11 | 11 |
| Net profit | 3 | 5 | 7 | 1 | 3 | 5 | 7 | 8 |
| EPS (₹) | 0.97 | 1.41 | 2.39 | 0.11 | 1.05 | 1.63 | 2.20 | 2.61 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufacturing | 439 | 32.6 |
| Windmill | 1 | 0.1 |
| Trading | 907 | 67.3 |
| Total, before eliminations | 1,347 | 100.0 |
Exhibit 4: 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 | 25,680 | 13.8 | 2.36 | 12.2 | 8.0 | 10.8 | 15.9 | 2.0 |
| MMTC LIMITED | 8,018 | 17.9 | 3.78 | — | 18.3 | 21.6 | (83.7) | (2969.1) |
| MSTC LIMITED | 4,160 | 17.8 | 4.60 | 16.7 | 24.2 | 31.8 | (13.9) | 61.3 |
| CREATIVE NEWTECH LIMITED | 1,993 | 28.0 | 4.64 | 26.8 | 9.2 | 10.3 | — | 5.0 |
| Pervasive Commodities Limited | 1,182 | 77.2 | 13.13 | — | 0.0 | 0.0 | — | 1.9 |
| The Yamuna Syndicate Ltd | 774 | 8.5 | 0.60 | 508.1 | 4.0 | 0.3 | 4.8 | 3.4 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 54.1 | 6.0 | 6.9 | — | 4.7 |
| THE STATE TRADING CORPN | 624 | 0.9 | — | — | — | — | — | — |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.1 | 14.7 | 37 of 132 | 73% |
| P/B | 0.7 | 0.9 | 63 of 151 | 59% |
| ROCE | 8.2 | 1.6 | 40 of 175 | 78% |
| ROE | 6.5 | 2.0 | 46 of 158 | 71% |
| Debt / Equity | 1.9 | 0.1 | 141 of 156 | 10% |
| EBITDA margin | 9.1 | 2.3 | 31 of 146 | 79% |
| Revenue growth | 17.9 | (8.6) | 41 of 135 | 70% |
| Profit growth | 1072.1 | 1.7 | 8 of 160 | 96% |
| Market cap | 179 | 21 | 25 of 178 | 86% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Board to approve September 2026 standalone results on November 14 | results | low | — | — |
| 8 Oct 2026 · Signet Industries explains delay in AGM proceedings submission to BSE | compliance | low | — | — |
| 6 Oct 2026 · RTA confirms no demat or remat requests in Q2 FY26 | compliance | minimal | — | — |
| 3 Oct 2026 · 41st AGM Results: All 6 Resolutions Passed Including Rs 0.50 Dividend | board shareholder meetings | low | — | — |
| 1 Oct 2026 · Signet Industries appoints Secretarial Auditor for five years | management changes | medium | — | — |
| 1 Oct 2026 · Signet Industries 41st AGM outcome: dividend of Re. 0.50 declared, 6 resolutions passed | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 22 Sept 2026 · Promoter Mukesh Sangla buys 10,948 shares of Signet Industries | ownership changes | medium | — | — |
| 21 Sept 2026 · Promoter Mukesh Sangla buys 10,747 shares via open market | ownership changes | low | — | — |
| 15 Sept 2026 · Promoter Mukesh Sangla buys 5,989 shares of Signet Industries from open market | ownership changes | 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.