BSE: 507998
SIMMONDS MARSHALL LTD.
Manufactures specialised fasteners and precision components from its base in Pune, supplying to automotive original equipment manufacturers (OEMs) in India including Honda Motorcycle & Scooter India, Royal Enfield and Bajaj Auto. Top five customers account for around 51% of revenue, leaving the business exposed to a small customer base. Consolidated revenue for FY26 was ₹238.07 crore with profit after tax of ₹14.79 crore and an EBITDA margin of 13.44%. The cost structure is dominated by raw materials at 40.1% of revenue, followed by employee costs at 20.4% and other operating expenses at 26.4%, with depreciation at 3.0% and capex at 1.1% of revenue. Operating cash flow for FY26 came in at ₹3,131.98 lakhs, almost double the ₹1,618.37 lakhs generated in FY25. Credit ratings stand at CARE BBB (Stable) on long-term bank facilities of ₹23.50 crore and CARE A3+ on short-term facilities of ₹1.50 crore. The business is cyclical and tied to the production schedules of its automotive OEM customers. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Specialised fasteners and precision components. Cyclical auto-component supplier dependent on two-wheeler and automotive OEM production schedules
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 157 | 186 | 192 | 208 | 238 |
| EBITDA (ex other income) | 10 | 12 | 19 | 25 | 31 |
| margin % | 6.6 | 6.2 | 9.6 | 11.9 | 13.0 |
| Owners' profit | (5) | (3) | 3 | 9 | 15 |
| EPS, as reported (₹) | (4.29) | (2.42) | 2.91 | 8.00 | 13.20 |
| ROE % · ROCE % | (13.8) · 4.1 | (8.3) · 7.2 | 9.1 · 13.3 | 20.3 · 17.3 | 25.3 · 21.8 |
| Debt / equity (x) | 1.48 | 1.45 | 1.33 | 1.06 | 0.48 |
| Cash from operations | 14 | 13 | 17 | 16 | 32 |
| Capex | (5) | (2) | (10) | (8) | (3) |
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 | 57 | 49 | 54 | 54 | 59 | 60 | 66 | 65 |
| Profit before tax | 4 | 1 | 3 | 2 | 4 | 4 | 6 | 5 |
| Net profit | 4 | 1 | 3 | 2 | 4 | 4 | 4 | 4 |
| EPS (₹) | 3.13 | 1.18 | 2.60 | 2.00 | 3.38 | 3.87 | 3.95 | 3.42 |
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. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,61,567 | 36.9 | 3.70 | 14.4 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,27,307 | 53.9 | 8.58 | 31.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 85,615 | 121.2 | 8.96 | 30.9 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 62,653 | 52.0 | 8.63 | 28.8 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 58,417 | 46.7 | 9.50 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 49,327 | 70.8 | 8.04 | 42.9 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 43,386 | 71.5 | 3.05 | 16.8 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 34,124 | 35.2 | 4.99 | 16.7 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.4 | 26.7 | 26 of 119 | 79% |
| P/B | 4.3 | 3.3 | 75 of 117 | 36% |
| ROCE | 14.4 | 12.6 | 51 of 125 | 60% |
| ROE | 25.3 | 11.7 | 8 of 117 | 94% |
| Debt / Equity | 0.5 | 0.3 | 75 of 117 | 36% |
| EBITDA margin | 13.3 | 12.2 | 50 of 118 | 58% |
| Revenue growth | 20.8 | 20.2 | 55 of 113 | 52% |
| Profit growth | 71.6 | 24.4 | 29 of 115 | 75% |
| Market cap | 253 | 1569 | 93 of 126 | 26% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 23 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 22 Sept 2026 · Simmonds Marshall 66th AGM concluded; dividend declared on equity shares | board shareholder meetings | low | — | — |
| 31 Aug 2026 · AGM notice and e-voting details published in newspapers | compliance | minimal | — | — |
| 28 Aug 2026 · Simmonds Marshall sets Sept 15, 2026 record date for Rs 0.80 dividend | corporate actions | medium | — | — |
| 28 Aug 2026 · Record date Sept 15, 2026 for Rs. 0.80 per share dividend | corporate actions | high | — | — |
| 28 Aug 2026 · Annual Report FY26 web link sent to shareholders; 66th AGM on Sep 22, 2026 | compliance | minimal | — | — |
| 28 Aug 2026 · Simmonds Marshall files FY 2025-26 Annual Report; Rs 0.80 dividend proposed | compliance | low | — | — |
| 28 Aug 2026 · Notice of 66th AGM on Sept 22, 2026 with dividend of Rs 0.80 per share | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Simmonds Marshall 66th AGM set for September 22 via video conference | compliance | minimal | — | — |
| 11 Aug 2026 · Simmonds Marshall Q1 FY27: net profit up 82% YoY to about Rs 3.67 crore | compliance | minimal | — | — |
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.