BSE: 504959
STOVEC INDUSTRIES LTD.
Manufactures rotary and digital printing machines, engravers, and consumables for textile and graphic industries from a base in Ahmedabad. The company is a subsidiary of Netherlands-based SPGPrints B.V., which holds 71.06% of the equity, and has been designated the lead entity for the SPGPrints Group's global textile business. Two segments report revenue: Textile Machinery and Consumables, which contributed 94.6% of Q4 FY26 segment revenue at ₹44.16 crore, supplies printing machines, engravers, and consumables to textile manufacturers and printers; Graphics Consumables, which contributed 5.4% at ₹2.53 crore, supplies consumables to the graphics and printing industry. For FY25, total revenue from operations was ₹1,981.11 million with exports making up 27.44% of turnover. The company employs 104 permanent staff and 175 workers, holds ISO 9001:2015 certification, and flagged higher material costs as a drag on Q4 FY26 margins. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textile Machinery and Consumables (95%), Graphics Consumables (5%). Capital-goods manufacturing for the textile and graphics printing industries, with a consumables annuity on installed machines.
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q3 FY19 |
|---|---|
| Revenue | 0 |
| Profit before tax | 0 |
| Net profit | 0 |
| EPS (₹) | 0.00 |
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. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.9 | 3.1 | 42 of 112 | 63% |
| ROCE | 33.9 | 11.3 | 7 of 142 | 96% |
| ROE | 23.4 | 9.8 | 8 of 113 | 94% |
| Debt / Equity | 0.0 | 0.2 | 1 of 113 | 80% |
| Market cap | 272 | 273 | 72 of 141 | 49% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve September 2026 unaudited results on November 3 | results | low | — | — |
| 9 Oct 2026 · RTA confirms dematerialisation compliance for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · Postal Ballot Notice Published for Two Director Appointments | compliance | minimal | — | — |
| 30 Sept 2026 · Postal ballot to appoint two parent company directors | management changes | medium | — | — |
| 29 Sept 2026 · Trading Window Closure from Oct 1, 2026 for Q2 Results | compliance | minimal | — | — |
| 25 Sept 2026 · Parent firm SPGPrints CFO Kortekaas joins Stovec board as Additional Director | management changes | medium | — | — |
| 25 Sept 2026 · Stovec board appoints SPGPrints CFO Kortekaas as Additional Director | management changes | medium | — | — |
| 15 Sept 2026 · Promoter encumbrance of 71.06% stake disclosed under SEBI Takeover Regulations | ownership changes | medium | — | — |
| 24 Aug 2026 · Non-Executive Director Mr. Garrett Forde resigns effective 24 Aug 2026 | management changes | medium | — | — |
| 10 Aug 2026 · Promoter group discloses shareholder agreement at Dutch parent level | ownership changes | 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.