NSE: SILINV · BSE: 521194
SIL INVESTMENTS LIMITED
Holds equity investments and lends to promoter-group companies as a listed investment company. In FY26, total income was Rs 62.78 crore and consolidated profit after tax was Rs 38.21 crore against total assets of Rs 2,857.22 crore. The bulk of the balance sheet is in equity investments classified as FVOCI, whose mark-to-market movements flow through other comprehensive income rather than the P&L — in FY26 those mark-to-market losses drove other comprehensive income to Rs (62,442) lakhs, against positive Rs 93,242 lakhs in FY25. The company also lends to related parties: the Board proposed unsecured loans of up to Rs 225 crore to six group companies including Sutlej Textiles, Avadh Sugar & Energy, Magadh Sugar & Energy, Palash Securities, Cinnatolliah Tea and Morton Foods, subject to shareholder approval at the 92nd AGM. The cost base is light, with no material input cost, employee cost at 4.4% of revenue and other operating expenses at 12.5%. The Board recommended a dividend of Rs 2.50 per equity share (25% on Rs 10 face value) for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Investment income. Investment holding company with equity portfolio and related-party lending
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 49 | 44 | 51 | 55 | 63 |
| EBITDA (ex other income) | 42 | 37 | 40 | 43 | 52 |
| margin % | 86.1 | 84.7 | 78.9 | 78.3 | 83.0 |
| Owners' profit | 33 | 28 | 29 | 31 | 38 |
| EPS, as reported (₹) | 31.16 | 26.50 | 27.76 | 29.19 | 35.69 |
| ROE % · ROCE % | 1.4 · — | 1.6 · — | 1.3 · — | 1.0 · — | 1.5 · — |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 10 | 100 | 16 | 10 | 48 |
| Capex | 0 | 0 | (18) | (1) | (1) |
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 | 25 | 22 | 1 | 14 | 29 | 27 | (6) | 24 |
| Profit before tax | 22 | 18 | (2) | 10 | 26 | 24 | (9) | 21 |
| Net profit | 17 | 14 | (3) | 8 | 20 | 20 | (9) | 21 |
| EPS (₹) | 15.41 | 13.03 | (2.54) | 7.47 | 18.44 | 18.37 | (8.59) | 19.09 |
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. % |
|---|---|---|---|---|---|---|---|---|
| JIO FIN SERVICES LTD | 1,35,496 | 63.7 | 1.01 | — | 1.2 | — | — | 70.7 |
| ADITYA BIRLA CAPITAL LTD. | 97,598 | 22.8 | 2.65 | — | 10.5 | — | 18.8 | 40.8 |
| L&T FINANCE LIMITED | 61,858 | 19.4 | 2.21 | — | 10.6 | — | 5.5 | 62.3 |
| TATA INVESTMENT CORP LTD | 28,442 | 66.0 | 0.97 | — | 1.5 | — | 19.5 | 92.6 |
| CHOLAMANDALAM FIN HOL LTD | 24,545 | 9.2 | 0.72 | — | 16.2 | — | 23.0 | 58.4 |
| TVS HOLDINGS LIMITED | 23,883 | 12.1 | 1.85 | — | 26.3 | — | 23.4 | 16.4 |
| MAHARASHTRA SCOOTERS LTD | 13,373 | 48.0 | 0.48 | — | 1.1 | — | — | 84.1 |
| JSW HOLDINGS LIMITED | 12,440 | 90.6 | 0.38 | — | 0.4 | — | 14.1 | 84.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.0 | 19.9 | 13 of 51 | 76% |
| P/B | 0.2 | 0.6 | 8 of 63 | 86% |
| ROE | 1.4 | 1.3 | 32 of 65 | 52% |
| EBITDA margin | 90.7 | 61.6 | 21 of 62 | 67% |
| Revenue growth | 73.7 | 13.6 | 14 of 56 | 76% |
| Profit growth | 150.8 | 10.7 | 12 of 66 | 83% |
| Market cap | 450 | 273 | 30 of 68 | 57% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Board meeting on 30 Oct 2026 to consider Q2 FY26-27 results | results | low | — | — |
| 9 Oct 2026 · RTA submits quarterly dematerialisation certificate to exchanges | compliance | minimal | — | — |
| 30 Sept 2026 · Trading window closed for Q2 results from October 1, 2026 | compliance | minimal | — | — |
| 24 Sept 2026 · Newspaper notice on special window for physical share dematerialisation | compliance | minimal | — | — |
| 14 Aug 2026 · Newspaper publication of Q1 FY27 financial results | compliance | minimal | — | — |
| 13 Aug 2026 · Q1 FY27 standalone PAT up 160% YoY to Rs 12.47 cr on fair value gains | results | high | — | — |
| 13 Aug 2026 · SIL Investments Q1 FY27 PAT jumps 160% YoY on fair value gains | results | high | — | — |
| 3 Aug 2026 · Board meeting on 13 Aug 2026 to consider Q1 FY27 results | results | low | — | — |
| 2 Aug 2026 · Independent Director Abhrajit Dutta completes tenure | management changes | medium | — | — |
| 1 Aug 2026 · 92nd AGM voting results: all 5 resolutions passed | board shareholder meetings | 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.