BSE: 513496
SIZEMASTERS TECHNOLOGY LIMITED
Manufactures and trades precision gauging equipment from its facility in Pune, Maharashtra. The product range covers thread gauges, plain gauges, taper gauges, spline gauges, PCD gauges, multi-gauging equipment and relation gauges. Two operating subsidiaries — Aurum Turnkey Services LLP and Sizemasters Calibration Services LLP — sit alongside the parent. In February 2026, a new subsidiary, Sizemasters Mould-Tech Private Limited, was incorporated with a 60% parent stake (Rs 1.5 crore cash for 15 lakh shares) to manufacture plastic and polymer products using injection moulding and extrusion, a new vertical that has not yet started operations. FY26 revenue was Rs 35.99 crore and EBITDA margin stood at 16.97%, with no outstanding borrowings reported in the FY26 audit. Cost structure is dominated by raw materials, which jumped from Rs 134.56 lakh to Rs 767.35 lakh year-on-year in Q2 FY26, alongside employee costs at 7.9% of revenue and other operating expenses at 9.0%. The company is listed on BSE and the Calcutta Stock Exchange and is led by Managing Director Gopal Ramchandra Zanwar; it was formerly known as Mewat Zinc Ltd. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing and trading of precision gauges, Subsidiary operations, Plastic and polymer moulding (not yet operational). Small-cap, low-debt precision engineering manufacturer; transitioning from legacy non-ferrous metals identity to gauge-making and, more recently, plastics moulding.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 13 | 17 | 36 |
| EBITDA (ex other income) | 2 | 3 | 6 |
| margin % | 16.6 | 16.5 | 15.5 |
| Owners' profit | 2 | 2 | 4 |
| EPS, as reported (₹) | 1.79 | 2.43 | 40.69 |
| ROE % · ROCE % | 13.9 · 20.9 | 16.8 · 24.1 | 22.4 · 26.5 |
| Debt / equity (x) | 1.07 | 0.95 | 0.16 |
| Cash from operations | (0) | 0 | 9 |
| Capex | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 3 | 5 | 6 | 6 | 13 | 7 | 10 |
| Profit before tax | 1 | 1 | 0 | 1 | 1 | 2 | 1 | 1 |
| Net profit | 1 | 1 | (0) | 1 | 1 | 1 | 1 | 1 |
| EPS (₹) | 0.51 | 1.02 | 0.21 | 0.69 | 1.22 | 1.47 | 0.93 | 0.86 |
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. % |
|---|---|---|---|---|---|---|---|---|
| HINDUSTAN ZINC LIMITED | 2,14,968 | 12.6 | 9.50 | 9.6 | 61.1 | 59.5 | — | 60.9 |
| SIZEMASTERS TECHNOLOGY LIMITED ◆ | 398 | 88.8 | 20.52 | 65.0 | 22.4 | 25.9 | — | 13.9 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 88.8 | 15.9 | 21 of 22 | 5% |
| P/B | 20.5 | 2.7 | 19 of 20 | 5% |
| ROCE | 25.9 | 7.8 | 7 of 24 | 74% |
| ROE | 22.4 | 7.6 | 6 of 20 | 74% |
| Debt / Equity | 0.2 | 0.4 | 8 of 20 | 63% |
| EBITDA margin | 13.9 | 6.8 | 5 of 19 | 78% |
| Revenue growth | 75.7 | 13.6 | 7 of 21 | 70% |
| Profit growth | (13.8) | 55.9 | 16 of 20 | 21% |
| Market cap | 398 | 198 | 10 of 24 | 61% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Compliance Certificate for Share Dematerialization - Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closed for Q2 FY27 Results | compliance | minimal | — | — |
| 18 Sept 2026 · 33rd AGM results: all 5 resolutions passed including 3 related party deals | compliance | minimal | — | — |
| 16 Sept 2026 · 33rd AGM of Sizemasters Technology held via video conferencing | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Sizemasters Tech 33rd AGM on Sep 16, 2026; book closure Sep 4 to Sep 16 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · 33rd AGM scheduled on September 16, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Sizemasters Technology 33rd AGM notice set for September 16, 2026 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Notice of 33rd AGM on September 16, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Newspaper clippings of Q1 FY26 results filed with BSE | compliance | minimal | — | — |
| 6 Aug 2026 · Board meeting on August 12, 2026 to approve Q1 FY27 results | results | 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.