NSE: SONAMLTD
SONAM LIMITED
Manufactures and sells clocks — wall clocks, premium designer clocks, digital calendar clocks, night-glow models and decorative and modern lifestyle clocks — from a base in Morbi, Gujarat. Q1 FY27 revenue from operations was Rs. 6,656.96 lakhs, up 75.65% year-on-year, and management has guided to 25-30% growth for full-year FY27, with Q2 FY27 revenue expected at a minimum of Rs. 40-50 crores. Distribution is split between domestic channels — including a recently opened B2C presence on Flipkart and Amazon — and exports to 13 countries, with Iraq the single largest export market at 37.86% of international revenue. Production is currently running at 60-70% capacity utilization, which management says leaves headroom for growth without major capex, and growth is being funded entirely through internal accruals with no borrowings required. The product strategy emphasises premiumisation, with plans to launch clocks in the Rs. 5,000-10,000 price band by FY28, while a 12-month advance raw material purchase plan is used to smooth input price volatility. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Domestic clock sales, Export clock sales. Manufacturing-led consumer durables (clocks) with in-house design, domestic plus export exposure.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 87 | 83 | 88 | 104 | 171 |
| EBITDA (ex other income) | 8 | 9 | 12 | 12 | 14 |
| margin % | 9.4 | 10.7 | 13.8 | 11.6 | 8.4 |
| Owners' profit | 3 | 4 | 6 | 6 | 7 |
| EPS, as reported (₹) | 3.39 | 2.00 | 2.76 | 1.58 | 1.83 |
| ROE % · ROCE % | — · — | 7.7 · 11.7 | 9.7 · 16.1 | 10.1 · 15.8 | 10.2 · 15.5 |
| Debt / equity (x) | — | 0.49 | 0.39 | 0.29 | 0.30 |
| Cash from operations | 10 | 8 | 7 | 10 | 6 |
| Capex | (9) | (2) | (1) | (2) | (2) |
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 | 24 | 25 | 32 | 38 | 31 | 38 | 64 | 67 |
| Profit before tax | 2 | 3 | 2 | 2 | 1 | 3 | 4 | 4 |
| Net profit | 1 | 2 | 2 | 1 | 1 | 2 | 3 | 3 |
| EPS (₹) | 0.34 | 0.53 | 0.42 | 0.33 | 0.23 | 0.55 | 0.72 | 0.75 |
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. % |
|---|---|---|---|---|---|---|---|---|
| DIXON TECHNO (INDIA) LTD | 77,292 | 36.8 | 14.35 | 29.9 | 30.5 | 31.7 | 49.9 | 6.4 |
| HAVELLS INDIA LIMITED | 64,247 | 39.3 | 6.79 | 23.9 | 17.8 | 21.5 | 16.6 | 8.0 |
| PG ELECTROPLAST LTD | 14,582 | 70.8 | 4.78 | 34.3 | 6.4 | 7.5 | 49.7 | 7.7 |
| IKIO TECHNOLOGIES LIMITED | 1,396 | 28.6 | 2.29 | 15.4 | 6.8 | 8.3 | — | 15.5 |
| CWD Limited | 635 | 14.9 | — | — | — | 13.8 | — | — |
| FOCUS LIGHTG & FIXTRS LTD | 369 | 63.7 | 2.52 | 20.2 | 3.5 | 4.8 | — | 14.9 |
| SONAM LIMITED ◆ | 280 | 31.1 | 3.92 | — | 10.2 | 12.9 | — | 8.1 |
| VETO SWITCHGEAR CABLE LTD | 256 | 9.4 | 0.88 | 7.0 | 8.5 | 11.2 | 16.4 | 11.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 31.1 | 31.1 | 6 of 11 | 50% |
| P/B | 3.9 | 2.5 | 7 of 11 | 40% |
| ROCE | 12.9 | 8.3 | 5 of 13 | 67% |
| ROE | 10.2 | 6.5 | 3 of 11 | 80% |
| Debt / Equity | 0.3 | 0.1 | 9 of 11 | 20% |
| EBITDA margin | 8.1 | 8.0 | 5 of 11 | 60% |
| Revenue growth | 75.7 | 33.3 | 3 of 13 | 83% |
| Profit growth | 127.0 | 32.9 | 4 of 11 | 70% |
| Market cap | 280 | 268 | 7 of 14 | 54% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 29 Sept 2026 · Trading window closed ahead of Q2 financial results | compliance | minimal | — | — |
| 23 Jul 2026 · Sonam Limited declares Re 0.30 interim dividend; record date 4 Aug 2026 | corporate actions | high | — | — |
| 23 Jul 2026 · Sonam Limited declares Rs 0.30 interim dividend, record date Aug 4 | corporate actions | high | — | — |
| 22 Jul 2026 · Sonam Q1 FY27 earnings call - 75% revenue growth, 25-30% full year guidance | investor communications | medium | — | — |
| 21 Jul 2026 · SONAM LIMITED has informed the Exchange about Link of Recording | investor communications | low | — | — |
| 20 Jul 2026 · Sonam Q1 FY27 Investor Presentation: Revenue up 75.65%, PAT up 126.99% | investor communications | medium | — | — |
| 16 Jul 2026 · Sonam Limited Q1 FY27 Results Published in Newspapers | compliance | minimal | — | — |
| 15 Jul 2026 · Sonam Limited Q1 FY27 results: revenue up 76%, PAT up 127% YoY | results | medium | — | — |
| 15 Jul 2026 · Sonam Limited: Regulation 74(5) certificate filed for Q1 FY27 | compliance | minimal | — | — |
| 15 Jul 2026 · Sonam Limited Q1FY27 earnings call scheduled for July 20, 2026 | 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.